November 22, 2024

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James Kim, chairman and CEO of the American Chamber of Commerce in Korea, delivers a congratulatory speech at The Korea Herald HIT Forum. (Im Se-jun/The Korea Herald)

American Chamber of Commerce in Korea Chairman and CEO James Kim on Thursday stressed the importance of maintaining strong bilateral ties between South Korea and the US amid changing dynamics in global interactions.

“As we navigate this mega-election year globally, the importance of ‘business diplomacy’ has never been more critical,” Kim said, delivering a congratulatory speech at The Korea Herald HIT Forum held Thursday in central Seoul.

Kim, who has taken on top posts at US companies’ units here such as GM Korea, Microsoft Korea and Yahoo Korea, has been heading the US business lobby group in Korea as CEO since 2017.

“The US-Korea relations are at an all-time high. Both countries are key players in global trade and innovation, and the outcomes of the upcoming US presidential election may impact future economic strategies and international partnerships,” he said.

In recent years, more South Korean companies have upped their investments in the US, focusing on strategic industries such as semiconductors, electric vehicle batteries, and renewable energy. The US and China have been vying to take the spot as the top export destination for South Korea.

“Korea, with its cutting-edge technology and innovation in strategic industries, plays a pivotal role as a key ally and partner to the US,” he said. “The country is poised to play a significant role in the US government’s strategy for the Indo-Pacific region and global supply chain restructuring going forward.”

“As geopolitical dynamics evolve both regionally and globally, the US-Korea alliance and economic partnership may grow deeper to tackle global challenges more effectively.”

Kim highlighted that AmCham can create win-win opportunities between Korea and the US as a bridge between the two nations.

“AmCham is dedicated to working closely with both the US and Korean governments to foster a stable and favorable policy environment following this year’s elections,” he said. “Our goal is to ensure that our economic partnership continues to thrive amidst evolving global conditions.”

By Im Eun-byel (silverstar@heraldcorp.com)