US, S. Korean biz groups urge cooperation in trade, tech between governments

American and South Korean business groups called for the promotion of a global rules-based trading system and Industries while urging government cooperation in 5G mobile networks, artificial intelligence, other emerging technologies, and digital economies.

The US-Korea Business Council and the Federation of Korean Industries also asked the US to eliminate national security tariffs on steel, aluminum, and other products.

The two business councils said the regulatory approaches to emerging technologies should be coordinated and 5G should be deployed to promote industry leadership in standards, intellectual property, and patents.

The groups said that there is no place for untrusted, high-risk vendors in 5G networks while calling for their governments to work with other allies and partners to improve security and foster trust.

They did not mention Chinese telecom equipment vendors Huawei, which the Trump administration has sought to ban Huawei from the 5G networks of the US and its allies.

The groups also urged the governments to work with the private sector to strengthen and diversify supply chains and to incorporate digital technologies in dealing with crises, such as the COVID 19 pandemic.