Prime Minister Han Seongsook: "No Discrimination Against Companies Based on Nationality... Will Resolve AI-Related Regulations and Attract Global Headquarters"

AMCHAM Dialogue
Three Key Strategies for Digital Regulation and Attracting Foreign Investment

Prime Minister Han Seong-sook emphasized that “the government of the Republic of Korea does not discriminate against companies based on nationality,” vowing to expand the attraction of global corporate investment by establishing a fair market order and actively rationalizing regulations.

During a dialogue with James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM), at a special luncheon hosted by AMCHAM at the Shilla Hotel in Seoul on September 11, Prime Minister Han addressed recent concerns raised by U.S. digital companies regarding regulations and the possibility of discrimination in the Korean market, dismissing such worries.

Prime Minister Han Sung-sook is having a conversation with James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AmCham), at a special luncheon meeting hosted by AmCham on the 11th at the Shilla Hotel in Seoul. AmCham

Prime Minister Han specifically cited her own experience during her tenure at Naver, when the company faced a Fair Trade Commission investigation and was fined after being reported by the U.S.-affiliated company eBay Korea, as well as the recent case of the Korean conglomerate SK Telecom being sanctioned for a personal data breach.

“Both corporate activities and government objectives clearly require their respective efforts,” Han explained. “The Fair Trade Commission exists to ensure fair transactions between businesses, and as shown in the SK Telecom case, even major domestic conglomerates are subject to investigation and sanctions according to the law.”

Han stressed, “I can state very clearly that the government absolutely does not discriminate against companies based on nationality or such factors. If companies face any discrimination or difficulties, I encourage AMCHAM or Chairman Kim to inform me further and I will actively convey these concerns and work to resolve them.”

Regarding digital regulations and the environment for emerging industries, Prime Minister Han presented solutions such as “regulatory analysis using artificial intelligence (AI)” and the “Presidential Commission on Regulatory Reform.” She acknowledged, “It is true that regulatory authorities have concerns straddling the understanding of new industries and the rules of traditional sectors. In new industries, if there is no law, the approach is to allow it by default, and we must ensure both proactive administration by public officials and rationalization of regulations work together in tandem.”

Prime Minister Hansung Sook is having a conversation with James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM), during a special luncheon meeting hosted by AMCHAM at the Shilla Hotel in Seoul on the 11th. AMCHAM

Citing recent examples where the government utilized AI technology to comprehensively review regulations across ministries, Han evaluated, “Each ministry’s regulations may be valid from their own perspective, but from the standpoint of the companies that must comply, conflicting requirements have become more frequent.” Han pledged that, as the Presidential Commission on Regulatory Reform continues to work with private-sector experts to resolve regulations, the government will make clear which key regulations requested by AMCHAM and economic associations have been eased and which remain difficult to address in practice.

Han also presented concrete policy directions for attracting global companies’ regional headquarters to Korea. She expressed agreement with the observation that Korea’s regional headquarter numbers lag behind those of Singapore or Hong Kong and provided three key areas for improvement:

“First, expand opportunities for investment in Korea’s mega-projects; second, provide differentiated incentives, including in the tax system; and third, create a comfortable living environment for foreigners residing in Korea,” Han stated. “We will proactively research and promote an environment conducive to attracting more headquarters across these three areas.”

Regarding the commitment of strategic investment with the U.S., valued at $350 billion, Han explained, “Close discussions are under way to ensure tangible benefits, business rationality, and profitability for both countries. If the first project produces a successful model, the subsequent process will accelerate further.”

Han added, “Whereas it took around 30 years for the age of platforms like Naver to become established, today—thanks to AI—we are in an era where over 50% of the population are users in just five years. I hope that the dynamism and appeal of Korea, combined with America’s advanced technology and sizable capital, create even greater opportunities than before.”

Prime Minister Han Seong-sook is taking a commemorative photo with James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM), at a special luncheon meeting held at the Shilla Hotel in Seoul on the 11th, hosted by AMCHAM. Photo by AMCHAM

After the public dialogue, a closed-door luncheon attended by major AMCHAM member company representatives took place. Participants exchanged views on the Korean government’s policies and initiatives for expanding foreign investment, improving the corporate business environment, and promoting Korea-U.S. industrial cooperation. Company leaders shared difficulties encountered while operating in Korea and suggested ways to rationalize regulations and improve systems to support long-term investment and innovation.

James Kim, Chairman and CEO of AMCHAM, commented, “Korea’s competitiveness in the semiconductor, battery, and advanced manufacturing sectors has provided a strong foundation for the U.S. and Korea to grow as key economic and strategic partners. As the Korea-U.S. partnership expands, now is a critical time for Korea to further solidify its position as Asia’s leading business and investment hub. We will work closely with Prime Minister Han Seong-sook and the Korean government to ensure that today’s discussions yield concrete results.”

This content was produced with the assistance of AI translation services.