Hanjin Group, Amcham and New York City sign deal for future investments

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Hanjin Group, Amcham and New York City sign deal for future investments

From left: Hanjin Group CEO Walter Cho; New York City Mayor Eric Adams and Chairman and CEO of Amcham James Kim at a ceremony that saw the three organizations sign an MOU to assist SMEs and M/WBEs on Oct. 11 at New York City Hall. [KOREAN AIR]

From left: Hanjin Group CEO Walter Cho; New York City Mayor Eric Adams and Chairman and CEO of Amcham James Kim at a ceremony that saw the three organizations sign an MOU to assist SMEs and M/WBEs on Oct. 11 at New York City Hall. [KOREAN AIR]

 
New York City Mayor Eric Adams, Hanjin Group CEO Walter Cho, and Chairman of the American Chamber of Commerce in Korea (Amcham) James Kim, announced the signing of an agreement to bring new initiatives and investments to New York City.  
 
The news came after a meeting between the three leaders which occurred on Oct. 11 at City Hall in New York City. This new initiative will result in Korean Air increasing its work with Minority and Women-Owned Business Enterprises (M/WBE), which are minority business enterprises certified by the city. The collaboration also aims to increase the availability of internship programs at Korean Air’s offices in Seoul and New York. This agreement also works to create opportunities for M/WBEs to do business in Korea with the assistance of the American Chamber of Commerce in Korea.
 
“As we continue on the path to economic recovery, there is no better time than now for investing in New York City,” said New York City Mayor Eric Adams. “I’m thrilled that Korean Air and Amcham Korea have agreed to invest in New Yorkers and our M/WBEs. I look forward to the incredible economic impact this collaboration will generate across the five boroughs,” he added.
 
“New York City is a global city and the most ideal place for foreign investments. We are creating an ecosystem that allows people and businesses to thrive,” said Edward Mermelstein, commissioner of NYC Mayor's Office for International Affairs. “I express my gratitude to the commitments Korean Air and Amcham Korea have made because they will provide an opportunity for New Yorkers to strengthen their skills while also opening an outlet for M/WBEs to unleash their potential. This project can become a representative example of positive outcomes derived from international business collaborations. Our hopes for the future is that the five boroughs all flourish with optimal job opportunities and ignite a stream of agreements to forever promote economic development.  
 
“Korean Air is proud to be working with New York City and Amcham Korea to support New York based M/WBEs to enter the Korean market. We are also happy that our internships can provide citizens of both Korea and New York City enhanced opportunities. Korean Air understands that small opportunities can grow into important contributions, and we are looking forward to this historic project. We are glad to cooperate with a city of which we have served for more than 40 years and hope that this project signals further cooperative practices,” remarked Cho, CEO of Korean Air.
 
“This partnership will guarantee a win-win-win partnership and depict a scenario for championing numerous collaboration efforts among the three parties,” said Amcham Chairman and CEO James Kim. “One of Amcham’s top missions is to assist small- and middle-sized enterprises (SME) from Korea to doing business in the U.S. and vice versa. Amcham has established the American Business Center to assist U.S. based SMEs to find business opportunities in Korea. Thus, we will continue to encourage Korean companies to invest in New York City,” he added.
 

BY LEE HYEIN [lee.hyein@joongang.co.kr]
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