James Kim, right, chairman of the U.S. business chamber, and San Francisco Mayor Daniel Lurie posing for a photo at an MOU signing ceremony held in Seoul, Wednesday. Courtesy of AMCHAM
The American Chamber of Commerce in Korea (AMCHAM) on Wednesday signed a memorandum of understanding (MOU) with San Francisco to expand business ties between Korea and the U.S. city.
Signed in Seoul by AMCHAM Chairman James Kim and San Francisco Mayor Daniel Lurie, the MOU establishes a framework to strengthen collaboration in areas such as investment and business connectivity in key industries, according to the chamber.
A signing ceremony brought together a delegation from San Francisco and representatives of companies serving both countries, including Korean Air Chief Executive Officer (CEO) Cho Won-tae and Patrick Storey, country manager of Visa International Korea.
The partnership builds on the 50th anniversary of the sister-city relationship between Seoul and San Francisco, and is aimed at expanding ties beyond cultural exchanges to include private sector-led economic cooperation.
"We look forward to leveraging this partnership to drive stronger business ties, expand two-way investment and deliver tangible outcomes for both markets," Kim said.
Lurie said he expects the agreement to "strengthen engagement between our cities' economies and expand opportunities for trade and investment."
Source: Korea Times News
