The Korean government and American Chamber of Commerce (AMCHAM) in
Korea agreed on Wednesday to boost their cooperation, which will include joint
efforts to boost U.S. investment in Korea.
A memorandum of understanding
(MOU) to this end was signed between the Ministry of Knowledge Economy and
AMCHAM.
Under the agreement, the AMCHAM will take part in future
campaigns in the United States by the Korean ministry to attract U.S. investment
to the country while also encouraging its own members here to boost their
investment, the ministry said.
The ministry, in return, will work to
improve conditions for U.S. investment, holding annual meetings with AMCHAM
members here.
Despite the global economic slowdown sparked by the
eurozone debt woes, U.S. investment in South Korea has been on a steady rise,
especially since the countries enacted their bilateral free trade agreement in
March.
In the first six months of the year, U.S. investment in South
Korea reached US$1.26 billion, up 13.1 percent from the same period last year,
the ministry said earlier.