Submission of Opinion on Restrictions on Large Chinese Investments,
Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry,
, ‘[Seoul Economy]’,
,
, ‘The Korea Chamber of Commerce and Industry has submitted a letter expressing concerns regarding the restrictions on Chinese investments being implemented by the U.S. to the U.S. government. It is the first time that a domestic economic organization has formally voiced its opinion on the U.S.-led sanctions against China.’,
,
, ‘According to industry sources on the 16th, the Korea Chamber of Commerce and Industry sent a statement to the U.S. Department of the Treasury expressing that the regulations are excessively ambiguous in terms of the targets of regulation in the proposed regulations announced in June.’,
,
, ‘The U.S.-led restrictions on China encompass prohibiting Americans or U.S. companies from investing in advanced semiconductor, artificial intelligence (AI), and quantum technology in China.’,
,
, “The issue lies in the excessively ambiguous definition of ‘American or U.S. corporation.’ The proposed regulations restrict Chinese investments if △ Americans (or corporations) indirectly or directly hold more than 50% of a company’s shares or voting rights △ Americans engage in investment management or management △ Americans provide investment advisory services for funds. Considering that global capital is interconnected like a spider’s web, in essence, it is targeting companies worldwide.”,
,
, “In response, the Korea Chamber of Commerce and Industry requested the U.S. Department of the Treasury to accurately define whether these regulations could also apply to non-Americans. They also proposed to define foreign corporations as those holding ‘more than 50% of voting rights.'”,
,
, ‘A Korea Chamber of Commerce and Industry official explained, “The U.S. government first requested a review of the regulations and then provided a response,”.’,
,