U.S. Ambassador Nominee Michelle Steel Advocates for Equal Market Access for American Companies in Korea

Michelle Steel, U.S. Ambassador nominee [Photo=AP, Yonhap News]

Michelle Steel, the nominee for U.S. Ambassador to South Korea, stated that American companies operating in Korea should be guaranteed equal market access. Issues surrounding non-tariff barriers in Korea and regulations affecting U.S. tech companies have emerged as significant trade concerns for the next U.S. ambassador.
During her confirmation hearing before the Senate Foreign Relations Committee on May 20, Steel remarked, "American companies doing business in Korea deserve the same market access that Korean companies enjoy in the United States."
Her comments came amid discussions regarding the treatment of U.S. firms in Korea. Senator Bill Hagerty raised concerns about regulatory issues affecting U.S. tech companies, citing the case of Coupang. In response, Steel assured, "If confirmed, I will work to ensure that American companies are not treated unfairly in Korea."
The discussion extended beyond technology companies. Senator Pete Ricketts highlighted non-tariff barriers affecting U.S. agricultural products and the reduction of low-tariff quotas on U.S. soybeans. Steel stated, "I will discuss market access issues for agricultural products, including soybeans, with the Korean government."
The commitment of South Korea to invest $350 billion (approximately 525 trillion won) in the U.S. also became a point of contention. Steel expressed her intention to clarify the funding mechanisms for this investment, indicating a focus not only on the investment amount but also on its actual implementation.

* This article has been translated by AI.

AJP