Seoul: The American Chamber of Commerce in Korea (AMCHAM) has urged South Korea to enhance its regulatory framework in light of increasing trade tensions, highlighted by a proposed 25 percent tariff on Korean goods by the United States. This call to action was detailed in a report released Tuesday.
According to Yonhap News Agency, the 2025 Business Environment Insight Report issued by AMCHAM delineates significant regulatory challenges while offering policy recommendations to create a more transparent and internationally competitive business environment for U.S. companies 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," stated James Kim, AMCHAM chairman and CEO.
The proposed U.S. tariffs, expected to be implemented on Wednesday (U.S. time), add a layer of uncertainty to the trade environment between the two nations. AMCHAM emphasized the urgency for South Korea to proactively improve its regulatory competitiveness, secure supply chain resilience, and ensure fair competition for international businesses.
The report highlights approximately 70 regulatory issues across 12 sectors, including aerospace, pharmaceuticals, automotive, and the digital economy. AMCHAM has called on Seoul to eliminate redundant regulations, improve market access for foreign businesses, and align local policies with global standards.