Experts say now is right time for S. Korea firms to make U.S. investments

SEOUL, Nov. 9 (Yonhap) -- Trade and legal experts have advised South Korean companies to make investments in the United States, citing the business-friendly government policies in the world's No. 1 economy, a local trade agency said Thursday.

In a seminar held in Seoul, lawyers and trade officials from South Korea and the U.S. said it is the right time for local companies to acquire U.S. businesses and increase their investments as Washington is keen on attracting an inflow of funds, the Korea International Trade Association (KITA) said in a statement.

Kim Yong-sang, representative of the U.S. law firm O'Melveny at their Seoul office, advised Korean companies "not to be concerned about the impact on their businesses of a revised free trade pact between Seoul and Washington but to advance to the U.S. seeking merger and acquisition (M&A) opportunities."

Some 100 Korean companies that have an investment plan in the U.S. and hope to open trade with U.S. firms attended the seminar jointly held by KITA and the Association of American State Offices in Korea (ASOK).

"As the U.S. has a huge domestic market, it is an attractive destination for multinational companies. Korean companies need to seek investment opportunities based on their value-added technologies in the era of the fourth industrial revolution," Austin Chang, director of the America's Department at KITA, said.

kyongae.choi@yna.co.kr
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