By Diplomacy Journal Lee Kap-soo

The American Chamber of Commerce in Korea (AMCHAM) and the Korea Trade-Investment Promotion Agency (KOTRA) signed a Memorandum of Understanding (MOU) on May 15 at KOTRA headquarters to establish a strategic partnership aimed at enhancing the trade and investment environment for foreign-invested companies in Korea.

Through this agreement, AMCHAM and KOTRA will work closely together to promote regulatory reform and support initiatives that advance the U.S.-Korea economic partnership.

To facilitate this collaboration, the two organizations will establish a joint working-level committee to identify and recommend regulatory improvements based on AMCHAM’s annual reports and feedback from member companies. AMCHAM and KOTRA also plan to co-host briefings, roundtables, exhibitions, and export consultations, while continuing to explore new avenues for advancing bilateral trade and investment.

In April, AMCHAM published the 2025 AMCHAM Business Environment Insight Report: APEC Special Edition, identifying approximately 70 unresolved or newly emerged regulatory challenges across 12 major industries ranging from aerospace and automotive to pharmaceuticals, energy, and the digital economy.

The report outlines recommendations focused on aligning Korea’s regulatory framework with global standards, eliminating duplicative policies, and improving market access for U.S. companies.

“Today’s MOU lays important groundwork for enabling strategic economic collaboration between Korea and the United States. It represents a key step forward in reducing non-tariff barriers, strengthening Korea’s position as a premier regional business hub, and ensuring the success of APEC 2025,” said James Kim, Chairman and CEO of AMCHAM. “We look forward to working closely with KOTRA to advance regulatory reform, expand investment incentives, and improve the overall business environment for global companies in Korea.”

He added, “Tomorrow, I will be meeting with the U.S. Trade Representative Jamieson Greer in Jeju, on the sidelines of the 2025 APEC Ministers Responsible for Trade Meeting. I look forward to highlighting today’s MOU as a significant milestone in our collective efforts to reduce non-tariff barriers and improve market access.”

Kang Kyung-sung, President and CEO of KOTRA, said, “We hope this partnership with AMCHAM will serve as a valuable bridge for Korean SMEs and mid-sized companies seeking to enter the U.S. market. Going forward, KOTRA will continue to expand efforts that foster mutual growth and deeper collaboration between businesses in both countries.”

This partnership underscores the growing importance of public-private collaboration in shaping a transparent, efficient, and globally competitive business environment in Korea, particularly as both countries deepen economic ties amid a rapidly evolving global landscape.