KITA News and Reports
  • KITA Sends Trade Delegation to Washington D.C. for 4 Days from April 14
    2018-04-12

     

    KITA Sends Trade Delegation to Washington D.C. for 4 Days from April 14

     

    -     Samsung Electronics, POSCO, Steep Association, Semiconductor Association, etc. will Participate in will convey concerns about protectionism -

     

     

    The Korea International Trade Association (Chairman, Kim Young-joo) announced that it was going to send a trade delegation, consisting of the representatives of the conglomerates as well as industry groups in automobile, steel, IT, solar light power, energy, etc., to Washington, D.C. from April 15 to 18. 

     

    In this delegation, not only the conglomerates such as Samsung Electronics, Hyundai Motor, POSCO, POSCO Daewoo, SeAH Steel, Hyosung, Hanwha Q Cells, and SK Gas, but also the exporters to the United States, including Mando and Iljin Global, and industry groups such as the Steel Association and the Semiconductor Association will participate and discuss the impact of import regulations and cooperative issues on each industry.

     

    The Korea International Trade Association said, "In spite of the agreement on the negotiation for amendment of the Korea-US free trade agreement, the uncertainties between the two countries have not been resolved due to President Trump’s remark that it could be delayed. The organization stressed, We will convey our industries’ concerns about the United States’ stricter import regulations and emphasize the importance of future-oriented economic cooperation between the two countries by organizing the delegation centering on automobiles, steel, and solar light energy industries that the import regulations are focused and IT and energy industries that are likely to have economic cooperation in the future.

     

     

    KITA’s delegation will hold a "Korea-US Industrial Solidarity Forum" jointly with the US Chamber of Commerce during their stay in the United States and share the mutual benefits of the Korea-US FTA and the bilateral cooperation cases in the major fields such as steel and solar light energy areas. In particular, American companies that purchase Korean steel will attend the forum and explain the win-win performance of the companies in the two countries. Also, Door-knock, the talk among the current congress people who are the members of ‘Congressional Study Group on Korea’ in the U.S. congress, which was established last February, and a number of Senators and the members of the House of Representatives, is scheduled. In a joint reception with the U.S. Congress, networking opportunities between Korean businessmen and American opinion leaders will be provided.

     

    An official at the Korea International Trade Association said, Although the Korea-US FTA and the steel tariff issues under Section 232 have been agreed on in a large framework, trade disputes and protectionist trends are unlikely to be easily resolved. Through this delegation, we will convey the concerns of the Korean economic community to the Congress, the government, and the business community of the United States. At the same time, we plan to actively seek ways to enhance mutual competitiveness in technology, industry and energy areas and cooperative measures for the future.

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