American Chamber of Commerce in Korea Chairman James Kim, third from left, writes a memo during a meeting with Deputy Prime Minister and Finance Minister Choi Sang-mok, third from right, and Trade, Industry and Energy Minister Ahn Duk-geun, fourth from right, at the Korea Chamber of Commerce and Industry in Seoul, Friday. Courtesy of Ministry of Trade, Industry and Energy

It was revealed that American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim sent its members an email on Dec. 4 addressing the developments concerning the martial law declaration that President Yoon Suk Yeol had announced the previous night and lifted soon after.

In the letter, Kim assured members of Korea's resilience and urged them to maintain a positive outlook of the country's economy and security.

AMCHAM confirmed, Tuesday, that Kim issued the guidance letter hours after the martial law fiasco concluded. When asked last week by The Korea Times, the largest foreign chamber of commerce here only said that they were not making any specific moves about the situation.

In the letter, Kim assured members that the chamber was closely monitoring the situation and was in constant communication with the relevant authorities, adding that the organization is committed to providing its members with timely updates and guidance as the situation evolves.

He firstly advised the members to seek updates from reliable sources, adhere to the safety protocols issued by both countries' authorities, feel free to reach out to AMCHAM and stay connected with other members and share any helpful information.

Amid the growing concerns about the possibility of Korea's political turmoil thwarting AMCHAM's years of efforts to locate the Asia-Pacific headquarters of global companies in this country, the Korean American emphasized the importance of maintaining a positive outlook and strong leadership.

“South Korea has faced numerous challenges in the past, including the COVID-19 pandemic and the Asian financial crisis. Each time, the resilience and determination of the Korean people and businesses have led to recovery and growth,” he said in the letter.

“Korea remains a robust investment destination, both now and in the long term.”

Kim also asked its members to rest assured that AMCHAM is dedicated to ensuring the stability and security of its community, although it understands that the recent incidents can be unsettling.

President Yoon Suk Yeol shakes hands with American Chamber of Commerce in Korea Chairman James Kim during a luncheon at the Korea Chamber of Commerce and Industry in Seoul, Feb. 14. Newsis

Last Friday, he joined the heads of other foreign chambers of commerce here to attend a meeting with Deputy Prime Minister and Finance Minister Choi Sang-mok and Trade, Industry and Energy Minister Ahn Duk-geun.

According to a press release issued by the government, foreign businesspeople at the meeting mentioned the need for cooperation to remove economic uncertainties and make Korea a business hub in the Asia-Pacific region.

Choi and Ahn also vowed to stabilize the nation's business environment.

On Wednesday, the AMCHAM chairman will meet Trade Minister Cheong In-kyo on the occasion of the chamber's regular board meeting.

According to AMCHAM, the meeting was arranged before the martial law fiasco.

Although the government and U.S. companies in Korea had initially planned to discuss possible policy changes after U.S. President-elect Donald Trump takes office next January, it has become inevitable for them to address Korea's current political and economic situation.