US rep­re­sen­ta­tives meet ex­ec­u­tives

The Korea Times - - BUSINESS - By Park Jae-hyuk jae­hyuk@ktimes.com

Mem­bers of the U.S. House of Rep­re­sen­ta­tives are on a visit to Korea to meet busi­ness­peo­ple here.

The Korea In­ter­na­tional Trade As­so­ci­a­tion (KITA) said Wed­nes­day it invited Rep. Ed Royce, chair­man of the House Com­mit­tee on For­eign Af­fairs, and other rep­re­sen­ta­tives to a re­cep­tion held Tues­day at the Grand In­ter­Con­ti­nen­tal Seoul.

In­clud­ing Rep. Shim Jae-kwon of the Demo­cratic Party of Korea, who is also a chair­man of the Na­tional Assem­bly For­eign Af­fairs and Uni­fi­ca­tion Com­mit­tee, the re­cep­tion was at­tended by 90 Korean ex­ec­u­tives from Korean Air, Hyundai Mo­tor, POSCO, SK, SeAH and Hyosung.

The U.S. at­ten­dees in­cluded Co-chair of Con­gres­sional Cau­cus on Korea Ami Bera, Chair­man of the Sub­com­mit­tee on Asia and the Pa­cific Ted Yoho, Com­mit­tee on For­eign Af­fairs mem­ber Brad Sch­nei­der and Res­i­dent Com­mis­sioner of Puerto Rico Jennifer Gon­za­lez.

The at­ten­dees at the re­cep­tion dis­cussed pend­ing is­sues, in­clud­ing the amend­ment of the Korea-U.S. Free Trade Agree­ment (KORUS FTA) and se­cu­rity on the Korean Penin­sula.

The Korean ex­ec­u­tives were given a chance to in­tro­duce each of their com­pa­nies’ busi­nesses in the United States and talked about their dif­fi­cul- ties to those who are in charge of the su­per­power’s do­mes­tic and for­eign poli­cies on pol­i­tics and eco­nom­ics.

Rep. Royce and Rep. Bera es­pe­cially showed keen in­ter­est in Korean com­pa­nies in­vest­ing in the U.S., vis­it­ing the head of­fices of CJ and SPC, both of which have in­vested in Cal­i­for­nia, the con­gres­sional district of the two politi­cians.

Dur­ing the re­cep­tion, Rep. Royce and KITA CEO Kim In-ho an­nounced a joint state­ment on the pro­mo­tion of eco­nomic growth and pros­per­ity be­tween Korea and the U.S.

They vowed to hold friendly dis­cus­sions on strength­en­ing the two coun­tries’ bi­lat­eral re­la­tion­ship, the im­por­tance of for­eign di­rect in­vest­ment in the U.S. and the mu­tual ben­e­fits of the KORUS FTA, with the aim of fos­ter­ing greater co­op­er­a­tion in busi­ness, trade and in­vest­ment be­tween the two.

“The eco­nomic ties be­tween Korea and the U.S. have mu­tu­ally ben­e­fited the two,” Kim said. “The KORUS FTA is a sym­bol of the suc­cess­ful eco­nomic co­op­er­a­tion that has al­lowed prac­ti­cal ben­e­fits and faster growth for both coun­tries over the past five years.”

Rep. Royce also ad­mit­ted that the two coun­tries’ al­liance has con­tin­ued to be­come stronger, as busi­ness­peo­ple in the two coun­tries have spared no ef­forts for this.

Yon­hap

Korea In­ter­na­tional Trade As­so­ci­a­tion CEO Kim In-ho, right, shakes hands with Rep. Ed Royce, chair- man of the U.S. House Com­mit­tee on For­eign Af­fairs, dur­ing a re­cep­tion at the Grand In­ter­Con­ti­nen­tal Seoul, Tues­day. They an­nounced a joint state­ment on the pro­mo­tion of eco­nomic growth and pros­per­ity be­tween Korea and the U.S.

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