BUSINESS

KITA sets up advisory panel on trade in Washington

By Korea Herald
  • Published : May 16, 2019 - 15:39
  • Updated : May 16, 2019 - 15:39

The Korea International Trade Association announced Thursday that it has established an advisory panel comprising experts in Washington to help businesses deal with changing US economic policies and create a favorable sentiment toward South Korea.

The inauguration ceremony was attended by a delegation of 16 businesses including Posco, Seah Steel and Hyundai Motor, along with KITA Chairman Kim Young-ju. The attendees included Terry Miller, director of the Center for International Trade and Economics of the Heritage Foundation who will head the advisory panel, and Edward Royce, former chairman of the United States House Committee on Foreign Affairs. David Gossack, vice president for Asia at the US Chamber of Commerce, and Bruce Hirsh, former assistant US Trade representative, also participated.


Participants attend an inauguration ceremony of the trade advisory panel set up by the Korea International Trade Association in Washington, DC, Tuesday. Among those attending were former US Ambassador to Mexico James Jones (third from left, front row), KITA Chairman Kim Young-ju (fourth from left) and Edward Royce, former chairman of the United States House Committee on Foreign Affairs (third from right). KITA

The panel is comprised of 19 members, all of whom are either former government officials or experts from think tanks, legal and corporate sectors. The panel will be responsible for assuaging the trade environment of the US, advising on policies and creating favorable public opinions for Korean businesses, KITA said.

“The advisory panel will act as a bridge to encouraging views on the importance of Korea-US economic cooperation and to establish future-forward relations between both countries,” KITA Chairman Kim said in a meeting with the panel.

“It is hoped that the wisdom and advise from the panel will navigate the Korean businesses in the midst of radical changes in global commerce.”

In marking the inauguration of the panel, KITA arranged meetings between the Korean business delegation and US legislators, politicians and political aides.

Addison Graves Joe Wilson Sr., representative of South Carolina’s second congressional district, during one of the meetings, cited Samsung’s recent opening of a washing machine plant in the state as a symbol of the strong alliance between both countries.

Andrew N. Kim, the representative from New Jersey’s third congressional district and the first Democratic member of Congress of Korean descent, was quoted as saying that he felt responsibility to learn from South Korean businesses to figure out ways to strengthen the alliance between Korea and the US.

The Korean business delegation also participated in the door-knock program inviting US legislators and shared their concerns about trade issues hindering wider advances into the US market.

(khnews@heraldcorp.com)


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