US ambassador urges fair treatment for American firms in Korea
U.S. Ambassador to Korea Michelle Steel, center, speaks during a fireside chat with AMCHAM Chairman James Kim, left, and Gen. Xavier Brunson, commander of U.S. Forces Korea, in Seoul, Wednesday. Courtesy of AMCHAM
AMCHAM hosts US ambassador, USFK chief for alliance talks
U.S. Ambassador to Korea Michelle Steel on Wednesday called on Seoul to ensure that American companies operating in Korea can compete on a level playing field, amid U.S. concerns over regulations affecting firms such as Coupang.
"American companies in Korea deserve to compete on a level playing field, fairly and without discrimination," Steel said in her opening remarks at a special luncheon hosted by the American Chamber of Commerce in Korea (AMCHAM) in Seoul. The event also featured Gen. Xavier Brunson, commander of U.S. Forces Korea (USFK).
Coupang, a U.S.-listed e-commerce firm that is active primarily in Korea, disclosed a data breach affecting over 33.6 million customers late last year, leading to an investigation and sanctions. In response, 50 U.S. Republican politicians signed a letter accusing Seoul of “targeted and discriminatory actions” against American companies, citing the Coupang case. Seoul has rejected the claims of discriminatory treatment, insisting that the investigation has been carried out in accordance with domestic law.
The ambassador, addressing concerns over digital regulations, said American companies faces difficulties operating in the Korean market, citing search-and-seizure investigations and audits targeting businesses.
"They have raided these companies, and they have audited these companies," she said during a fireside conversation moderated by AMCHAM Chairman James Kim.
"Hopefully, it is getting better; I heard it was getting better since we signed the joint fact sheet."
The joint fact sheet outlines the agreement reached at a Korea-U.S. summit last year, and Steel emphasized it calls for fair treatment of American companies in Korea.
Steel expressed hope that the two governments would maintain communication and address each other's concerns over business conditions.
The ambassador added that Korea has grown into an economic power and no longer needs U.S. protection, saying it is time for the two countries to take a leading role together in the Indo-Pacific region.
The event in Seoul commemorated the 250th anniversary of the United States and drew about 200 participants, including representatives from AMCHAM member companies and other Korean and international businesses.
Under the theme “The U.S.-ROK Alliance in a Changing World: Strengthening Security, Prosperity & Partnership,” the luncheon explored the alliance’s evolving role and ways to deepen security and economic cooperation.
“It is a tremendous honor to host two of America’s most important leaders in Korea, representing the military and diplomatic pillars of our alliance,” Kim said.
“The U.S.-Korea alliance is stronger, broader and more important than ever. Our alliance is built on a strong foundation of security. Today, that partnership extends far beyond defense — connecting our economies, our industries and our people,” he said.
Kim highlighted cooperation in shipbuilding, semiconductors, batteries, aerospace and defense, saying the two countries are developing industries critical to economic and national security.
“Economic security and national security now go hand in hand. And at AMCHAM, we are committed to strengthening both,” he said.
Kim reaffirmed AMCHAM’s commitment to turning dialogue into practical outcomes and serving as a bridge between the governments and business communities of the two countries.
The luncheon came as security and economic issues have become increasingly interconnected, underscoring the importance of closer cooperation between Korea and the U.S. across the defense, energy and strategic industries.