Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
INTERVIEW Korea advised to leverage importers' networks to mitigate US trade pressure
Korea Importers Association Chairwoman Youn Young-mi speaks during an interview with The Korea Times at her office in Seoul, July 29. Korea Times photo by Choi Won-suk
By Park Jae-hyuk
KOIMA chairwoman highlights importance of people-to-people diplomacy
The Donald Trump administration has urged its trade partners, including Korea, to import more from the United States.
Even after Seoul signed a tariff deal with Washington last month, the U.S. trade deficit with Korea has remained unresolved, which Trump has used to justify his request for Korea to keep exempting U.S. imports from tariffs while his administration levies 15 percent “reciprocal” tariffs on Korean products.
To counter ongoing trade pressures, Korea Importers Association (KOIMA) Chairwoman Youn Young-mi advised that the government consider using the personal networks of the association’s members and their buying power.
“Importers who think pragmatically can help Korea navigate the superpower that pursues practical diplomacy,” she said in a recent interview with The Korea Times. “Unlike government officials who rotate through departments every few years, businesspeople with longstanding, even family-to-family, ties to their U.S. partners can have deeper conversations.”
Just as conglomerate leaders contributed behind the scenes to the latest tariff deal, KOIMA has also played its part to mitigate U.S. trade pressure.
In June, Youn visited the American Chamber of Commerce in Korea (AMCHAM) to meet with its chairman, James Kim, and discuss ways to ease the trade imbalance between the two countries.
“The AMCHAM chairman lived up to his reputation as a pragmatic American,” Youn said. “As soon as I arrived at his office, he asked, ‘What can we do for you?’ and soon after, he moved the conversation to ‘Buy America.’”
The ongoing “Buy America” campaign aims for balanced trade between Korea and the U.S. through the increased purchase of U.S. strategic items such as agricultural products, automobiles and energy by Korean companies. AMCHAM has led the campaign this year as part of its efforts to address trade tensions between the two countries.
“Both organizations have acted as bridges between governments and businesses,” Youn said. “Given Korea’s heavy reliance on imported food products, I discussed with the chairman ways to increase the proportion of U.S. products in Korea’s food imports.”
Youn added that AMCHAM promised ongoing cooperation with KOIMA and support for a Korean importers’ delegation, should they visit the U.S. in the future.
Korea Importers Association (KOIMA) Chairwoman Youn Young-mi, left, poses with American Chamber of Commerce in Korea Chairman James Kim at the latter's office in Seoul, June 24. Courtesy of KOIMA
‘Patriotic’ imports
The relationship with the U.S., however, is not KOIMA’s only concern.
Serving as one of Korea’s diplomatic channels, the association has fostered friendly ties with a range of countries.
The 22nd Korea Import Fair, for example, attracted foreign envoys from nearly 60 countries last month, as well as more than 200 prominent global companies. China’s Alibaba.com also participated in the annual trade expo hosted by KOIMA, introducing a new global platform to Korean companies.
“Although our association is not well known among government officials or the public, we serve as virtually the only communication channel for many countries’ diplomatic offices in Korea,” Youn said. “That is why foreign envoys take a keen interest in our association.”
In March, when she was appointed KOIMA’s new head, diplomats from nearly 80 countries attended her inauguration ceremony. Lawmakers from rival parties and government officials also attended the event.
Describing both imports and exports as acts of patriotism, Youn called on the government to give as much policy support to imports as it does to exports. She also pledged to raise government awareness of the importance of imports, while working to support KOIMA’s members.
“In September, we will send an importers’ delegation to Japan for the first time to strengthen business ties with the country and keep up with global trends at Expo 2025 in Osaka,” she said. “In October, we will organize a delegation to Germany, the Czech Republic and Poland.”
Youn noted that Korea’s imports of food products from the Czech Republic and Poland would help facilitate Korea’s exports of defense systems and nuclear power plant technologies to those European countries.
Visitors crowd exhibition booths during the 22nd Korea Import Fair hosted by Korea Importers Association (KOIMA) at COEX in Seoul, July 7. Courtesy of KOIMA
1st woman leader
In KOIMA’s 55-year history, Youn is the first woman to lead the association.
Despite male dominance in the field, she proved herself by founding Highland Foods in 1999 and managing Korea’s leading meat importer, which now generates more than 1 trillion won ($724 million) in annual revenue.
“During my inauguration ceremony, Rep. Na Kyung-won compared my leadership to that of Korean mothers, who managed to feed their children even when Korea was one of the world’s poorest countries,” Youn said. “Her words resonated with me and many other women in attendance.”
While acknowledging differences between men and women, Youn said she would focus on strengths she brings as a woman and a mother.
Looking ahead to her next three years as KOIMA’s chief, she vowed to upgrade the association through steady, step-by-step efforts.