AmCham suggests president-elect lift regulations for foreign investment

American Chamber of Commerce in Korea suggested lifting regulations to make Korea an attractive investment destination for global companies to the new incoming Yoon Suk-yeol administration Friday.

The AmCham Board of Governors sent a letter signed by its 34 members to the Transition Committee with some policy recommendations.

They include the need to improve the flexibility of employment conditions, mitigate CEO risk, restore the flat tax rate for foreign residents and improve the regulatory environment to ensure proactive communication in support of making Korea the most preferred destination for regional business headquarters in the Indo Pacific region.

“AmCham is committed to being a trusted resource to deepen the enduring bilateral partnership to make Korea the best business destination for global companies in Asia,” said AmCham Chairman and CEO James Kim.

“President-elect Yoon Suk-yeol and his team can count on having our enthusiastic support of the new administration and we pledge all of our efforts to promote the plan to grow the Korean economy, ensure a plentiful supply of jobs and improve the transparency and fairness of the Korean economy.”

By Hong Yoo (yoohong@heraldcorp.com)