The U.S.-Korea Business Council (USKBC) is the premier business advocacy organization representing America’s top companies engaged with Korea. It is made up of senior-level executives of U.S. companies from every business sector that are major investors in Korea and are actively committed to the Korean market.
The USKBC was established in 1987 with a mission to foster better business ties between the United States and Korea, as well as to promote the bilateral economic and political relationship in order to expand trade and investment between the two countries. In 2002, the U.S. Chamber of Commerce became secretariat of the council.
- Enhance two-way trade and investment between the United States and Korea and promote the bilateral economic and business relationship at the highest levels of leadership in both countries.
- Provide members access to senior U.S. and Korean government and business leaders, deliver timely information, and facilitate member input in policy formation.
Goals and Policy Priorities
- Promote trade and regulatory policies in Korea that will ensure an open and competitive business environment.
- Ensure full implementation of the U.S.-Korea free trade agreement, and enforcement of its provision by both countries.
- Enhance labor market flexibility in Korea.
- Advance opportunities for U.S.-Korea business and economic cooperation in key sectors, both bilaterally and globally.
Each year, USKBC members gather at an annual plenary session and interim joint meeting with their counterparts on the Korea-U.S. Business Council (KUSBC). The KUSBC and the U.S.-Korea Business Council were both established in 1987 for the same purpose of advancing better business ties between the two countries. The KUSBC is administered by the Federation of Korean Industries, the leading group of Korea’s top companies.
These meetings, which are held in both Korea and the United States, enable members to exchange views on policy priorities and discuss strategies to advance shared goals in Korea and the United States. These high-profile, business-to-business dialogues also present opportunities to interact with senior-level government officials from both countries. In the past, these joint meetings have included opportunities to meet with the president of the Republic of Korea and Cabinet-level officials from both countries.
Forums with Government and Business Leaders
The USKBC organizes business forums and events with senior-level Korean and U.S. government officials, business executives, and policy experts throughout the year. The U.S. Chamber and the USKBC hosted President Park Geun-hye for a CEO roundtable and luncheon during her first trip to Washington as president in May 2013.
Through the USKBC, members engage regularly with the Embassy of the Republic of Korea in Washington, D.C., including roundtable discussions with the Ambassador to the United States. Past programs have also included meetings with numerous high-level Korean delegations to Washington, including Korean National Assembly Members, Trade Minister for the Republic of Korea, and presidential delegations.
The USKBC co-hosts an annual U.S.-Korea Investment and Trade Cooperation Forum with business groups in Korea, including the Korea Chamber of Commerce & Industry and the Korea Trade Investment Promotion Agency.
The USKBC offers a robust program focused on policy advocacy. This involves sharing timely and insightful information affecting member companies, facilitating a unified response to issues of concern, and collaborating with government and business stakeholders on policy recommendations.
The USKBC has published policy recommendation papers for distribution to members of Congress and congressional staffers, the administration in the United States and Korea, and key government and business leaders.
The USKBC operates issue-led working groups that serve as forums for members to address key topics and recommend strategic actions for the council to take in advancing policy priorities. Working group members coordinate with their Korean counterparts in the KUSBC to discuss issues of mutual interest and to develop joint council action plans and strategies. Active working groups include energy, financial services, life sciences innovation, and the digital economy/innovation.
To view the full version of USKBC brochure, please click here.