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| ▲ This image provided by the American Chamber of Commerce in Korea shows the cover of its 2025 Business Environment Insight Report. (PHOTO NOT FOR SALE) (Yonhap) |
US biz chamber-US tariffs
AMCHAM urges regulatory reform in S. Korea amid U.S. tariff concerns in new report
SEOUL, April 8 (Yonhap) -- The American Chamber of Commerce in Korea (AMCHAM) has called on South Korea to improve its regulatory environment in response to rising trade tensions, including a proposed 25 percent tariff on Korean goods by the United States, in a report released Tuesday.
The 2025 Business Environment Insight Report by AMCHAM outlines key regulatory barriers and offers policy recommendations to promote a more transparent and globally aligned business climate for U.S. firms operating in South Korea.
"While recent developments surrounding reciprocal tariffs have introduced new challenges to the bilateral trade environment, we remain confident in the strength and resilience of the U.S.-Korea economic partnership," James Kim, AMCHAM chairman and chief executive officer (CEO), said.
The chamber said the proposed U.S. tariffs, set to take effect Wednesday (U.S. time), introduce a new layer of uncertainty into the bilateral trade environment and underscore the critical need for South Korea to proactively enhance its regulatory competitiveness, protect supply chain resilience and foster a level playing field for international business.
The report identifies around 70 regulatory issues across 12 industries, including aerospace, pharmaceuticals, automotive and the digital economy. AMCHAM urged Seoul to streamline overlapping rules, enhance market access for foreign firms and better align local policies with international norms.
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