Ministry of Trade, Industry and Energy

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn attended the special meeting on August 29 held at the American Chamber of Commerce in Korea (AMCHAM Korea) to discuss measures to enhance Korea-U.S. trade cooperation and bolster Korea’s role as Asia’s business hub.

The meeting proceeded in the form of a Q&A session led by Minister Ahn and AMCHAM Korea Chairman James Kim, with the participation of AMCHAM board members and roughly 100 domestic and overseas business leaders operating in Korea.

 
In answering questions, Minister Ahn articulated that amid the intensifying emergence of economic blocs, supply chain realignment, and other structural changes worldwide, Korea can turn these challenges into opportunities to establish itself as the regional hub by promoting foreign investment, reinforcing manufacturing competitiveness with focus on advanced industries, and mitigating trade risks for Korea-based companies.

To the U.S. representatives of Korea-based businesses, Minister Ahn expressed appreciation for contributing to creating quality jobs and invigorating local economies in Korea, founded on their deep trust and investment in the Korean market. He added that the U.S. is Korea’s key ally and economic partner, conveying hope that the two countries’ economic cooperation strengthens going forward and asked for continued investment and interest in Korea.

Driven by the all-time high foreign direct investment (FDI) Korea attracted last year, the Ministry of Trade, Industry and Energy (MOTIE) is aiming to reach its FDI target of USD 35 billion in 2024.