FKI head congratulates Biden, calls for 'restoration of open trade'

Huh Chang-soo

The head of a major business lobby group called for closer cooperation in trade and commerce between Korea and the United States in a congratulatory message sent to U.S. President-elect Joe Biden on Tuesday.

Huh Chang-soo, chairman at the Federation of Korean Industries (FKI), celebrated the inauguration of the incoming U.S. president in the letter, saying that he hoped for improved bilateral relations.

“Under your new leadership, I look forward to a restoration of open trade, multilateralism, reciprocity and adherence to the principles of the free market that will serve as a win-win ground in promoting our economic dialogue and exchanges,” Huh said in the statement.

More specifically, the chairman raised the need to restore trade policies, presumably referring to tariff restrictions imposed under the Donald Trump administration.

“Through it all, I seek improvements to trade policies that undermine the investments of 1,200 Korean and American companies operating in one another’s countries, that are an essential center of our two nations’ job creation, economic cooperation and innovation,” he said.

Huh hopes to visit the United States this year to discuss trade issues with business leaders and politicians in Washington.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]