AMCHAM Korea delegates to pitch KORUS FTA and new policy in Washington visit

2017.05.15 15:30:29 | 2017.05.15 17:31:47

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Delegates of the American Chamber of Commerce in Korea (AMCHAM) will visit Washington as part of its annual Door Knock trip from Monday to Thursday to advocate for the Korea-U.S. Free Trade Agreement (FTA) and brief economic policy direction of the Korean President Moon Jae-in.

The trip comes after a new president was inaugurated after a six-month-long vacuum in leadership in Seoul. Despite the traditional alliance of the two nations, Seoul has not been familiarized with U.S. President Donald Trump who recently demanded revisit to the five-year FTA. Unlike past visits, this year’s annual delegation includes a Korean member - Hyundai Motor Co.- for the first time.

During the trip, the AMCHAM delegates plan to argue on the mutual gains from the bilateral free trade deal since it took effect in 2012. “We will point out Korea-U.S. FTA’s economic benefits to officials in the Trump Administration that seeks to withdraw or renegotiate the trade pact, and explain the new Moon administration’s economic policies,” said an official from the AMCHAM.

Korean businesses expect the AMCHAM’s Door Knock trip would help the two countries resume active economic cooperation after a hiatus due to the leadership vacuum in Korea following former president Park Geun-hye’s impeachment over a corruption scandal.

The trip also comes at a time when Korea and the U.S. have begun discussing details for a summit next month. The delegates will attend more than 50 high-level meetings with senior officials and policy makers in the U.S. Administration and Congress.

AMCHAM Chairman James Kim said that the Door Knock trip would highlight the importance of the Korea-U.S. alliance to both countries under new leadership.

By Kang Young-woon

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