S. Korea’s trade lobby signs MOU with Arkansas

March 11, 2024

The Korea International Trade Association (KITA) on Monday signed a memorandum of understanding (MOU) with the U.S. state of Arkansas to foster mutual investments and trade.

The MOU was signed between KITA Chairman Yoon Jin-sik and Arkansas Gov. Sarah Huckabee Sanders at a general meeting of the South Korea-U.S. Economic Council in southern Seoul.

Sanders, former White House press secretary during the Donald Trump administration, visited Seoul as part of a two-nation trade mission to South Korea and Japan.

During the meeting, Yoon asked for the governor’s support to address South Korean businesses’ concerns over possible changes in major U.S. trade policies and laws following the American presidential election in November.

In particular, Yoon pointed out that there were difficulties for South Korean workers obtaining visas to work in the U.S. and asked for the governor’s support on the matter.

Sanders said her mission in Seoul was centered on “selling our state to some of the best countries anywhere in the world” and stressed Arkansas was “open to business” for South Korean companies.

The governor, meanwhile, sidestepped a question by Yonhap News Agency on how the current state of the U.S. Inflation Reduction Act (IRA) purportedly acts as a detriment to South Korean businesses operating in America.

“Our goal here is to strengthen the relationship and the partnership between our state and Korea in business here. And this has been a great first visit,” she said.

Asked whether Trump could seek a revision to the IRA if reelected as president, Sanders said he would “have to work with Congress, but I think he would definitely make a better president than the one we have.”