“Yoon’s victory in the Presidential election heralds start of big changes in businesses”
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“Yoon’s victory in the Presidential election heralds start of big changes in businesses”
  • Lee Kap-soo
  • 승인 2022.03.25 09:30
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KOTRA, AMCHAM jointly hold the first Business+ Forum to support foreign firms’ business performance in Korea

KOTRA, led by President Yu Jeoung-yeol, and AMCHAM jointly held the first Business + Forum at the Grand Intercontinental Hotel in Seoul on March 24.

Based on the MOU for educational cooperation signed early December last year by KOTRA and 15 foreign chambers of commerce in Korea, KOTRA and the American Chamber of Commerce in Korea (AMCHAM) jointly hosted the forum with participation of 17 other foreign chambers of commerce in Korea.

Ryu Jae-won, head of KOTRA's trade and investment data division, delivers a welcoming speech at the first Business+ Forum held at Grand Intercontinental Hotel in Seoul on March 24.
Ryu Jae-won, head of KOTRA's trade and investment data division, delivers a welcoming speech at the first Business+ Forum held at Grand Intercontinental Hotel in Seoul on March 24.

About 70 executives and employees of foreign companies and institutions in Korea attended the forum, which was held under the theme of "Business Guide for Foreign Companies in 2022.”

Among the participants were CEO Bruce In of GLS Korea, CEO Kim Ju-a of Rosy Heart, Director Kim Hye-sun of HP Printing Korea, Economic Specialist Jeong Eun-young of the U.S. Embassy in Seoul, Manager Hong Seung-il of NanoLayr, and General Manager Kang Suk-ho of Del Monte Fresh Produce Korea.

Project Manager Kang Seung-koo of Daegu-Gyeongbuk Free Economic Zone Authority, Senior Executive Luna Soo Yeoun Kim of Delta Air Lines, COO Joy Choi of Cook Medical Korea, Manager Son Jung-min of the British Chamber of Commerce in Korea, and General Manager Kim Youn-hee of Galderma Korea, also attended the event.

In particular, the forum is meaningful in that it proposed measures to minimize the management risks of foreign companies doing business in Korea in a rapidly changing economic environment such as the COVID-19 pandemic and a war between Russia and Ukraine. To this end, lectures were given on new laws and market trends that were introduced or changed this year, and future business environment changes.

Ryu Jae-won, head of KOTRA's trade and investment data division, stressed in a welcoming speech at the forum, "The purpose of the forum is to maximize business performance by providing timely information to foreign companies doing business in Korea and helping them reduce management risks."

Meanwhile, Joseph J. H. Chung delivered a lecture titled the “2022 guidelines for foreign businesses in Korea –New laws and regulations impacting market trend, corporate environment changes and business opportunities.

In the lecture, Chung stressed, ”The Presidential election 2022 that Yoon Suk-yeol of the People Power Party (PPP) won by the smallest margin of 0.73 percent means the start of big changes.

“The Yoon administration’s inclusion of civic-government consultative committee in its office means significant opportunity to shape policy and regulatory conditions favorable to industry and market. It will also help policymakers make informed decision on regulations by sector.”

Celebrating its 60th anniversary this year, KOTRA will actively support domestic business activities of foreign companies in Korea by inviting leading domestic instructors and dealing with various topics, including the latest economic and industrial trends.


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