The South Korea bill that was seen targeting American technology may disturb trade relations

President Donald Trump’s efforts to finish the touches on a comprehensive Trade Agreement With South Korean President Lee Jay Meong, he may be raised with the upcoming South Korean digital trade legislation, which is said to target American technology companies.

After his meeting on August 25 with Lee, Trump in fact announced that “it will return to the countries that attack the amazing American technology companies” while providing “a full pass to the largest technology companies in China.” Trump said the United States “will impose large additional definitions” if the two countries fail to remove “discriminatory measures”.

Politico mentioned This announcement followed me failed for me to sign a promise to stop the legislation that would affect the American technology companies operating in South Korea.

Trump issues the warning, and Tarrifs threatens taxes and digital regulations

The Korean embassy has not answered Fox’s business questions about whether Washington and Seoul had reached an understanding of the South Korean platform law proposed online, which experts warn of American companies.

“For several years, recently, we continued this week to express the Republic of Korea with the importance of reducing the regulatory burden and the non -carrier fires facing American digital companies. The President also announced on July 30, ROK is completely open to circulate with the United States with the United States, and we intend to raise the obligations of Korea in the future,” said a foreign ministry spokesman for Fox Business.

“Although we do not comment on potential legislation, the Ministry of Foreign Affairs is very concerned about the actions of foreign government that can create a discriminatory, incompatible burden, or designed to transfer important funds or intellectual property from American companies to the foreign government or for these favorite local measures.

The spokesperson’s statement concluded that “we are standing in front of the countries that attack our amazing American technology companies. The February 21 presidential memorandum of defending American companies and innovators abroad and unfair fines and penalties, and commercial, including the American government, including the ruling on the government of trade, including, specifically specifically, specifically, specifically, in particular, in the context,“ trade. ” And investment.

“The South Korean digital systems have suggested like The controversial digital market law in the European Union. Each of the proposed South Korea laws and European Union law aims to dominant American companies. Southern Korean organizers have Google, Apple, Amazon and Meta in their eyes. “

Tami Overbi, former Vice President of Asia and Chairman of the United States Business Council in the American Chamber of Commerce and government relations partner in the DGA group for Fox Business that the “real goal” of the proposed Korean legislation “is American companies.” Overby warned, “Whoever is not captured … are Chinese companies, TEMU, The Shein, The Aliexpress, Tiktok. They were not arrested in the way in which the law is written.”

Trump urged to confront South Korea on the technical regulations that target us, and to spare China

Zhang also echoed concerns about the proposed regulations that are not fairly targeting American companies. He said: “Chinese companies will escape the regulations in Korea because they did not reach the scope of the American giants,” claiming, “South Korean President Lee Jay Mong He is a supporter of religion and will be particularly reinforced in applying laws against Chinese companies. However, it is hostile to fighting America, so it will use any excuse to target the United States. “

The Computer and Communications Industry Association (CCIA) estimates that up to $ 109 billion in US market revenues can be affected by policies under consideration of the South Korean National Assembly. The affected sectors will include application stores, search engines, social networking services, operating systems and online ads.

“They have suffered from discrimination for several years,” Nigel Curie, a fellow of the National Office for Asian Research (NBR), who was closely followed by the Korean Fair Commerce Committee (KFTC) and separated them from American companies.

Among the issues, Curie says American companies working in South Korea The face is “the lack of legal procedures and procedural fairness” as well as “a very low strip for KFTC to launch investigations. Kuri said that the KFTC tactics “hostile and aggressive is unnecessary, with dawn raids, their offices, and how to meet the company’s employees, (and) the depth and breadth of the information they can request from the companies that they delivered.”

according to Naver NewsOn August 20, the Chairman of the KFTC Board of Directors, Joe Pyong Ki, said that with regard to the South Korean USA summit, he prefers not to budge in the proposed platform law online.

The report quoted him from saying, “It should be organized not only the gap between the upper and lower layers, but also monopolies such as the misuse of the market hegemony.”

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“The Koreans miss something really important here, and this is that online platform providers are basically not only the subject experts in the United States to reach 50-51 million Korean consumers, but also for small and medium Korean companies to reach their consumers,” Overbi said.