Changing Prospects for the KORUS FTA Ratification
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The next few months will be critical to securing the most commercially significant free-trade agreement for the U.S. in more than 15 years, says Tami Overby, president & CEO of the American Chamber of Commerce in Korea (AMCHAM Korea). Following the election of a new president in South Korea, and the emergence of free trade as a hot-button issue in the upcoming U.S. presidential election, the tone of the debate over the pending KORUS FTA is undergoing a significant shift.
Read more: Changing Prospects for the KORUS FTA Ratification
The ROK-US Relationship and the KORUS FTA in the 21st Century
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The relationship between the Republic of Korea and the United States, forged in the middle of the 20th century, has grown from a classic client state-superpower alliance to a broad political and economic partnership based on shared values. Now, as the 21st century dawns, the two countries are preparing to transform their ties further by putting a landmark free trade agreement in place.
Read more: The ROK-US Relationship and the KORUS FTA in the 21st Century
High-Level ROK Officials Discuss Investment Opportunities
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The Korea Society and Citigroup co-presented a business luncheon program at the New York Palace Hotel. The guests included analysts and representatives of major institutional investors. High-level officials from the Republic of Korea’s Ministry of Finance and Economy, the Ministry of Foreign Affairs and Trade and the Blue House offered their perspectives on the climate for foreign investment in Korea. The presentations were followed by lunch and an informal networking session.
A "Big Bang" in the Financial Sector?
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Korea's Capital Markets Consolidation Act
The Korean government has worked in recent years to establish Korea as a regional financial hub by boosting the country’s still nascent capital markets. In response to the ongoing changes in the global financial environment, the Korean government and the securities industry have promoted deregulation as a tool to drive the growth of the financial industry. The most notable and recent legislation is the Capital Markets Consolidation Act (CMCA). The Act was drafted with significant input from the Korea Securities Dealers’ Association (KSDA), and was passed by Korea’s National Assembly this past July.
Korea Investment Forum
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Korea is open for business and to let investors know just what opportunities the country has to offer, The Korea Society and KWR International, Inc. presented a special afternoon forum at the New York Palace Hotel. Dozens of attending analysts, investors and entrepreneurs were welcomed by Donald P. Gregg, president and chairman of The Korea Society. The Republic of Korea’s minister of Commerce, Industry and Energy Sye-Kyun Chung delivered the keynote address on his government’s FDI policy. His speech was followed by briefings from Yong-Deuk Lee, president of the Federation of Korean Trade Unions, and Tami Overby, president of the American Chamber of Commerce in Korea. A vigorous Q&A session followed and the forum was closed with an informal networking session.
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