AMCHAM to speak for Korean firms in US
Korea Times, 3 May 2005
AMCHAM to Speak for Korean Firms in US
By Seo Jee-yeon
Staff Reporter
The American Chamber of Commerce in Korea (AMCHAM Korea), the largest interest group of American companies here, said Tuesday that it will bring issues affecting Korean member companies to the United States government.
During the 2005 Doorknock, we will request the U.S. customs house to closely monitor imports of Chinese goods as pirated Chinese products deal a blow to Korean member firms doing business in the U.S.,'' AMCHAM Korea chairman Wayne Chumley said in a press conference held at the Grand Hyatt Seoul.For example, Hyundai Mobis, Hyundai Motor’s auto parts company, estimates the U.S. market to be $800 million. However, pirated Chinese auto parts are stealing 50 percent of the market,’’ he said.
The conference was aimed at briefing the Korean press on the chamber’s Doorknock to Washington this year, which will be held May 9-12. During the annual trip to Washington, the AMCHAM Korea delegation will meet U.S. policy makers to discuss bilateral economic issues.
It is the first time we are using a major Korean company as an example for the U.S. government in asking them to make changes,'' AMCHAM president Tami Overby said.We want to show that we are supporting all of our members. Hyundai Motors is one of our good members. And if the company has problems in the U.S., we want to support them there as well.’’
Besides the customs issue, AMCHAM Korea said it will set visas and the Korea-U.S. free trade agreement (FTA) as key issues during the 2005 Doorknock.
When asked about the expected progress in efforts to list Korea on the U.S. visa waiver program, Overby said the U.S. government may move closer to allow a new country to join the program soon.
We want Korea to be the next country to enter the U.S. visa waiver program,'' she added.
However, she said Korea is not quite there yet as there are still a couple of problems standing in the way: the U.S. visa rejection rate above 3 percent a year and an increasing amount of lost U.S. passports.
When it comes to issues for Korea to hamper economic exchange and trade expansion between the two countries, AMCHAM said it will urge the Korean government to resolve the protracted screen quota issue during the Doorknock.
It will also ask the Korean government to lift the ban on U.S. beef imports before Japan, while pointing out the lack of flexibility in the labor market.
Regarding the labor issue,Korea still lacks true labor flexibility and needs to give companies the ability to adjust the level of work force based on changing market conditions,’’ Chumley stressed.
In the 2005 Doorknock, about six or seven AMCHAM executives, including Chumley and Ovrerby, will attend meetings with opinion leaders in Washington and hold a meeting with the financial community in New York, AMCHAM said.
``Our message for the U.S. is simple. We are optimistic about the Korean economy and urge U.S. businesses to consider Korea as an investment destination,” the AMCHAM chairman said.
