U.S. Congressmen Accuse South Korea Government of Targeting American Businesses in Favor of Chinese Businesses
This news shouldn’t be surprising considering President Lee’s track record of being welcoming to China:
Members of Congress blasted South Korean leadership over a “left-wing government closely aligned with China,” that they accused of “attacking” American companies and showing favoritism to Chinese-led businesses.
In a letter led by Rep. Darrell Issa, R-Calif., and Rep. Michael Baumgartner, R-Wash., more than 50 members of the House of Representatives expressed their concern to Republic of Korea (ROK) Ambassador to the United States Kyung-wha Kang over what they deemed to be “discriminatory” business practices from the ROK.
“Many American tech companies have faced a range of regulatory actions that seek to punish them while shielding Korean domestic competition,” the letter reads. “Recent research by think tank Competere shows such regulatory actions by the ROK government will cost $1 trillion in combined economic damage to the U.S. and Korean economies over the next 10 years, with the U.S. economy losing $525 billion and American households losing nearly $4,000 each.”
You can read more at the link.
