US representatives meet executives
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.
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.