A Message from the Chairman

Dear Members,

It is with my great pleasure to announce the publication of 2016 KOCHAM Annual Review. Since 1997, the KOCHAM Annual Review has been published yearly in order to outline our organization’s key endeavors and achievements of the year. This year’s KOCHAM Annual Review also contains a summary of KOCHAM’s major accomplishments in 2016. It is our hope that you, the executive and staff members of our esteemed member corporations, be able to use the review as an opportunity to widen your understanding of KOCHAM. In 2016, KOCHAM collaborated with Korean traders associations throughout the to establish ourselves as a true government negotiating agency akin to AMCHAM Korea in Korea. In keeping with our founding principles, we have been hard at work expanding our activities advocating the interests of Korean corporations, as well as supporting negotiations between the governments of Korea and the United States. As part of these efforts, and as a follow up to our 2015 issue, KOCHAM has released the ‘2015-2016 White Paper on Trade”, outlining the difficulties faced by Korean trade and commerce companies. As in 2015, in 2016 we invited executive and staff members of the esteemed member corporations of KOCHAM to the New York Stock Exchange, demonstrating Korea’s status in the U.S. Other efforts made to support the hard work of our member corporations amidst difficult circumstances included hosting various seminars, providing helpful information through publications, supplying data on economic and industrial trends, and expanding the information exchange and networks of the executive and staff members of our member companies through KOCHAM’s annual sports gatherings and dinners. KOCHAM also helped raise funds for less fortunate members of the Korean community in the United States. The ‘Hope-sharing’ fund, begun in 2014 to help those in need in the expatriate community, has continued to grow; and the summer internship program at KOCHAM, now in its 12th year, has been expanded each year. All of KOCHAM’s aforementioned endeavors were made possible by the enthusiastic cooperation and support of our member corporations. Again, we extend our sincerest thanks to each and every one of the executive and staff members of our member corporations, and ask for your continued enthusiasm and support in the coming year. Thank you.

January 2017 Won Ki Kim Chairman Table of Contents

1. About KOCHAM 2. General Assembly 3. Business Issues for members 4. National Networking 5. Special Events 6. Corporate Seminars 7. Speeches at the Executive Committee 8. Support for the Korean-American Community 9. Summer Internship Program 10. KOCHAM Member Services 11. Publications 12. KOCHAM Korean Educational Institute 13. Board of Directors 14. Sub-Committees 15. List of KOCHAM Members 16. Membership 04 2016 Annual Review

About KOCHAM

KOCHAM, the Korean Chamber of Commerce and Industry in the U.S.A., is a private national nonprofit organization in New York City. Founded in June 1992, KOCHAM serves and represents Korean business entities doing business throughout the United States. Our membership includes major Korean corporations, financial institutions, and non-profit organizations operating in a wide range of sectors. There are also special members, such as locally-based law firms, accounting firms and other professional service providers with a Korean client base or who have other business interests in Korea. In the USA, it has regional chapters in major states such as Michigan, Georgia and Washington, etc.

As the most prominent representative of U.S. based Korean subsidiary firms, KOCHAM fulfills a multi-faceted aim. KOCHAM supports locally-based Korean executives to provide their employees and families with practical and valuable information. Moreover, KOCHAM provides an important venue to promote friendly relations among its members. KOCHAM is also active in the development of “corporate diplomacy” initiatives to build economic cooperation and to further promote closer relations between the general public and the business communities of Korea and the United States.

We represent and relay the opinions of the Korean Business community to the U.S. government. We are active in a range of corporate diplomacy initiatives to build greater awareness and goodwill between our members and the U.S. government by promoting friendship and communication among our members and U.S. corporations, as well as local governments and public organizations. Furthermore, we at times request the U.S. government and its agencies to help us overcome any business difficulties that our members may encounter while conducting businesses in the U.S.

We provide valuable direct services to our constituents. We have promoted various events such as monthly seminars and business workshops with prominent guest speakers in specialized fields to assist member companies in adapting effectively to the continuously changing business environment in the U.S. We have also provided our member companies with diverse economic information via e-mail and the web. Furthermore, we have continued to host our annual Golf Tournament and Annual KOCHAM Dinner Party to encourage our members, governmental agencies, and media representatives to socialize and network with one another.

We contribute resources for Korean-American Community through several means We have also been operating the Weekend Korean School, which is designed to educate the children of our member executives as well as their Korean-American peers. Additionally, we have provided an annual Internship Program for college students of second generation Koreans in the community in order to foster close cooperation within the Korean community. 2016 Annual Review 05

Affiliation

KOCHAM welcomes corporations, partnerships, associations and individuals interested in promoting business and trade links between and the U.S. Regarding KOCHAM’s affiliations, it maintains ongoing relationships with a wide range of business organizations which has a relationship with South Korea. This includes the Korea International Trade Association(KITA), the Korea Trade-Investment Promotion Agency(KOTRA), the U.S. Chamber of Commerce, Korea Society, the U.S.-Korea Business Council, and the American Chamber of Commerce in Korea(AMCHAM). KOCHAM also interacts with local, state, national and international businesses, economic development agencies, private corporations, academics, think-tanks, non-profit and cultural organizations, and the media. We have regional chapters in Michigan, Georgia and Washington.

KOCHAM’S Succession of Chairman

Term Name Took office Left office 1st Yung Duk Kim (Hyundai Corp., USA) 1992 1994 2nd Yung Duk Kim (Hyundai Corp., USA) 1995 1996 3rd Young Man Kim (Sunkyong America, Inc.) 1997 1998 4th Young Man Kim (Sunkyong America, Inc.) 1999 2000 5th Hong Taek Chung (Anam USA, Inc.) 2001 2002 6th Yeun Ho Suk ( America, Inc.) 2003 2004 7th Yeun Ho Suk (Hyosung America, Inc.) 2005 2007 8th Young Nam Ma (Daewoo International America Corp.) 2008 2008 9th Myeong Kyu Ahn (LG Electronics North America) 2009 2010 10th Chang Soo Choi ( Electronics America, Inc.) 2010 2011 11th Jong Wan Yoo (POSCO America Corp.) 2011 2012 12th Yang Kyu Kim ( America, Inc.) 2012 2013 13 th Seok Hwan Yoon (Daewoo International America Corp.) 2013 2014 14th Kiryong Ha (Doosan Heavy Industries America LLC.) 2014 2015 15th Kiryong Ha (Doosan Heavy Industries America LLC.) 2015 2016 16th Won Ki Kim (POSCO America Corp.) 2016 - 06 2016 Annual Review

General Assembly

Date & Place Major Decision Thursday, May 5th 2016 Palisadium, New Jersey 1) Approval of 2015 KOCHAM Projects *Sign cooperative partnership agreements with traders Election associations within the United States *Establish an external advisor system; increase cooperation Mr. Won Ki Kim (President of POSCO America) was elected as with foreign chambers of commerce the 16th Chairman of KOCHAM by the majority of the *Admit eight(8) new member companies attendees. 15th Chairman of KOCHAM, Mr. Kiryong *Government lobbying for issues relating to Korean-U.S. Ha(President of Doosan Heavy Industries America) was commerce and difficulties faced by member corporations approved as the Honorary Chairman. *Support networking and ventures amongst executives and employees of KOCHAM member corporations returning to New Senior Vice Chairmen were appointed as follows: Korea *Mr. Jae Lin Ko (POSCO Daewoo America Corp.) *Increase business networking and cooperation; expand information services for member corporations Senior Vice Chairmen were appointed for consecutive terms *Host economic/business experts at monthly seminars as follows : *Make efforts toward internal organizational improvements; *Mr. Hyun Chul Kim (Korea International Trade Association support and cooperate with the expatriate community New York Center) *Mr. Joo Wan Cho (LG Electronics U.S.A. Inc.) 2) Approval of 2016 KOCHAM projects *Mr. Jong Suk Lee (Samsung Electronics America, Inc.) *Sign cooperative partnership agreements with traders *Mr. Soo Hee Han (Samsung C&T America, Inc.) associations within the United States *Code of regulations for the KOCHAM secretariat completed New Vice Chairmen were appointed as follows: and published *Mr. Sang Chan Kim (Asiana Airlines) *Host business networking receptions; quarterly invitational *Mr. Soon Jae Hong (Woori New York Agency) lectures hosted by the Board of Directors with VIP speakers *Government lobbying for issues relating to Korean-U.S. Vice Chairmen were appointed for consecutive terms as commerce and difficulties faced by member corporations follows : *Support networking and ventures amongst executives and *Mr. Jung Hoon Woo (Korea Health Industry Development employees of KOCHAM member corporations returning to Institute USA) Korea *Mr. Nak Joo Seong (Korea Development Bank) *Host economic/business experts at monthly seminars; *Mr. Hee Se Ahn ( America Corp.) establish an annual economics symposium *Mr. Jong Woo Seo (Korean Air) *Distribute annual economic information reports to member corporations; annual economic symposiums Auditor were appointed for consecutive terms as follows : *Support and cooperate with the expatriate community *Mr. Kyung Taek Shin (The Export-Import Bank of Korea ) through summer internship programs and the KOCHAM column *Pursue improvement of Korean Weekend Schools 2016 Annual Review 07

Business Issues for Members

Between July and October, KOCHAM surveyed its member companies and regional traders associations on the various difficulties they faced when conducting business in the United States. The respondents were found to have experienced the following difficulties. KOCHAM details the challenges faced by Korean businesses in the ‘2016-2017 KOCHAM White Paper on Trade.’

1. General customs (security checks, quarantine inspections for agricultural/livestock and fisheries products, post-inspections following tariff payment declarations, port maintenance fees) 2. Customs under preferential tariffs pursuant to the Korea-U.S. FTA (different customs classifications for country of origin, issue of proof of country of origin for preferential tariffs) 3. Visas (duration of stay for E-2 visas, qualifications for issuing E-1 visas, Korean quotas for employment-related visas) 4. Anti-dumping measures for steel, washing machines, and chemical products. 5. Agricultural, livestock and fisheries products; food products

National Networking

Cooperation with Korean Chambers in the U.S. Since its establishment in 1992, KOCHAM has been actively engaged in various areas in an effort to boost exports and increase cooperation. It has worked closely with various financial institutions, regional traders associations, and Korean Chambers throughout the U.S. to lobby Congress and federal agencies to address the difficulties faced when exporting to the United States. With the Korean government actively engaged in forming a Korean Business Association in the United States and Overseas Korean Business Associations elsewhere abroad this year, KOCHAM has signed MOUs with the Korean Companies Association in Michigan, the Korean Chamber of Commerce and Industry in Georgia, and the Korea Trade Association in the Pacific Northwest. The Chamber is engaging in efforts to admit the Korean Company Association of Houston and the Korean Investors & Traders Association of California into a new council of Korean businesses in the United States.

KITA Congressional Networking Meeting In an effort to promote and improve the image of Korean corporations in the House of Representatives and the Senate, representatives of KOCHAM and its member corporations located in the New York area (POSCO America, Samsung SDS America, Korea Trade Insurance Corp.) participated in a networking event hosted by the Korea International Trade Association’s Washington branch office on September 21st, 2016 in Washington D.C. The event was held in the Rayburn HOB foyer, and most of the House and Senate attendees were representatives of states with Korean businesses based in the United States. Also present were staffers and members of Congress affiliated with relevant congressional committees for commerce, energy, industry, etc. 08 2016 Annual Review

Special Events

New Year’s congratulatory ceremony among KOCHAM member Companies

Date: Tuesday, January 5th, 2016 Place: Korea International Trade Association, Manhattan

KOCHAM hosted the 2016 KOCHAM New Year’s Congratulatory Ceremony on January 5th at 5PM at KITA, Manhattan. Present at the ceremony were 40 executives and staff members from KOCHAM’s member corporations, Consul General of New York, Gheewhan Kim, and other key relevant personnel. Consul General Gheewhan Kim congratulated KOCHAM member corporations for their hard work and requested their continued commitment. KOCHAM Chairman Kiryong Ha announced his plans for the new year: “This year, KOCHAM will strive to protect the interests of Korean corporations conducting or planning to conduct business in the United States, and aim to provide tangible benefits.” The more than 30 employees and executives of KOCHAM member corporations who participated in the event commented that they looked forward to seeing KOCHAM take another great leap forward in the new year.

Round Table conference on Anti-dumping

Date: Wednesday, August 24th, 2016 Place: SBC USA, New Jersey Topic(s) - What steps to take in order to avoid dumping and CVD cases in the future, such as?monitoring imports, pricing and commercial practices, assessing possible exposure based on current pricing. - What steps they can consider in order to reduce or limit the company’s liability now that investigations have been initiated or orders have been issued, such as pricing and sourcing decisions. Speaker - Mr. Joel D. Kaufman, Partner, Steptoe & Johnson, LLP - Mr. Thomas J. Trendl, Partner, Steptoe & Johnson, LLP 2016 Annual Review 09

2016 Economic Forum at NYSE

Date: Tuesday, October 18th, 2016 Place: New York Stock Exchange, New York Topic(s) - The prescription on U.S. & World economies - My life in the U.S. and innovative direction of 3M Speaker - Dr. Paul Sheard, Chief Economist and Executive Vice President, S&P Global - Mr. Hak-Cheol Shin, Executive Vice President, International operations at 3M

KOCHAM hosted its fifth economic forum through the mutual cooperation of NYSE. For the attendees of our companies, two speakers explained the forecast for the United States economy and innovative direction of 3M, And then, the attendees visited the trade floors to experience the active transactions of the floor. 10 2016 Annual Review

Corporate Seminars

Guideline on Contracts for the International At a seminar jointly hosted by KOCHAM and KITA, Dr. David Sale of Goods Mericle of Goldman Sachs predicted that the West Texas Intermediate(WTI) price will not rise above 40 dollars a barrel Date: January 21st, 2016 between this year and next. The next speaker, Dr. Robert Place: Korean Community Center, New Jersey Mellman of J.P. Morgan, said that although the U.S. economy Topic(s) is trending toward stable growth the growth of the financial - Sale of goods related International trade dispute, type, cases sector is in relative decline, and predicted that Korea’s - Contracts for the International Sale of Goods (CISG) economy will maintain a growth rate of nearly 3% this year and next. - Matters to be cautious when make the Sale of goods Contract Speaker Trends in U.S. Export Restrictions/Sanctions - Mr. Kyle Choi, Esq., Bluestone Law Ltd. and the Foreign Corrupt Practices Act

Kyle Choi, an attorney with Bluetone Law, a law firm based in Date: March 8th, 2016 Washington, DC, examined through actual cases trade Place: Marriott Teaneck at Glenpointe, New Jersey disputes, types thereof, and how to prepare contracts at a Topic(s) seminar on international commodities trading. It is advisable - U.S. export restrictions/sanctions (Current status of Iran, for both importers and exporters, he said, to use the North Korea, Cuba, and Russia sanctions and business) transaction agreement utilizing the United Nations Convention on Contracts for the International Sale of Goods (CISG), which - Trends and notable matters in enforcement of the has been adopted by most nations. Foreign Corrupt Practices Act (FCPA) Speakers - Mr. Alexandra López-Casera, Nixon Peabody US/World Economy and financial/Energy - Mr. Jason Gonzalez market’s prospects At a seminar jointly hosted by KOCHAM and KOTRA, attorneys Date: February 18th, 2016 from the law firm Nixon Peabody spoke on the current status Place: Hankook Center Conference Room, New York of sanctions on Iran, Russia, and Cuba, and what measures Topic(s) Korean companies can take in response. -2016 US/World Economy’s prospects - Financial and Energy market’s prospects Speaker - Dr. Robert Mellman, Senior Economist, JP Morgan - Dr. David Mericle, Senior Economist, Goldman Sachs 2016 Annual Review 11

Guidance on Notable Matters related to participated in the seminar and provided a good networking Employment/Labor and Health Insurance opportunity. Services

Date: March 24th, 2016 Outlook on IT/Communication Convergence Place: Double Tree Hotel, New Jersey Technology and Multimedia for Utilization in Topic(s) Business - Status of Obamacare implementation and notable matters concerning U.S. based business owners and Date: April 21st, 2016 Place: Double Tree Hotel, New Jersey employers in 2016 Topic(s) - How to use and ensure Korean healthcare services utilizing - Future IT/Communications Converged Service the network of a large insurance company in the U.S. - Current and Future Multimedia Technologies & Services, - Flexibility in manpower utilization and notable personnel and Application to Business /labor-related matters Speaker - Prohibition of discrimination against employees when - Dr. Nak Joong Choi, Researcher, Bell Labs hiring and firing - Dr. Kyung Ho Yang, Stevens Institute of Technology Speaker

- Mr. Christopher Sentmier, Broker Sales Representative, At a seminar entitled “Outlook on IT/Communication BenefitMall Convergence Technology and Multimedia for Utilization in - Mr. Jeffrey Walsh, Cigna Senior New Business Manager, Business,” held at the Double Tree Hotel in Fort Lee, Dr. Nak Cigna Global Joong Choi and Dr. Kyung Ho Yang delivered lectures on “The - Mr. Young Choi & Ms. Yookyung Hwang, Ms. Sandra Steiner Future of IT/Communication Convergence Technology and - Ms. Hillary Raimondi, Traub Lieberman Straus & Strews berry Services” and “Current State and Outlook of Multimedia - Mr. Jonathan Harwood, Traub Lieberman Straus & Technology, and Utilization in Business” respectively. Strewsberry

At this seminar, entitled “Guidance on Notable Matters Guidelines on Resident Employee, related to Employment/Labor and Health Insurance Commercial, and Employment-based Services,” the speakers explained how to use and ensure Immigrant Visas Korean healthcare services utilizing the network of a large insurance company. In addition to a presentation on Date: May 26th, 2016 personnel/labor, information was also provided on medical Place: Korean Community Center, New Jersey insurance services through KHIDI. In particular, Korean Topic(s) American investigators from the U.S. Department of Labor - L-1, E2 Employee visa, H1B, J1 12 2016 Annual Review

Corporate Seminars

- B1, B2 VISA What opportunities and threats are posed by - EB1, EB2, EB3 AI(Artificial Intelligence)? Speaker - Ms. Jihi Oh, Esq., THE CHOI LAW GROUP, LLC Date: July 20th, 2016 - Mr. Hyeong Sik Kim, YEONKANG Law Group Place: Teaneck Marriott Hotel, New Jersey Topics(s) At this seminar, attorneys Ms. Jihi Oh and and Mr. Hyeong Sik - How far has artificial intelligence come? Kim, who are members of the American Immigration Lawyers - How should corporations prepare? Association(AILA), delivered talks to explain in detail non- - How should individuals prepare? immigrant visas including the L visa, B visa and H-1B visa, and Speaker employment-based visas for the purpose of acquiring - Mr. Sanghoon Han, Vice President, Nomura Research permanent residence. Institute

The speaker for this seminar, Mr. Han of Nomura Research Outlook for the U.S. Economy and Monetary Institute, explained the rapid trend toward utilization of Policy, Oil Prices, and Household Debt in the artificial intelligence, and how corporations and individuals Second Half should prepare.

Date: June 24th, 2016 Place: Korea Trade Association, New York Guide to Effective Customs Import Strategies Topics(s) and Up date Guide on Preferential Tariff - Outlook for the U.S. economy and monetary policy and oil under the Korea-US FTA prices in the second half of 2016 - The economic and debt situation for U.S. households Date: September 29th, 2016 Speaker Place: Double Tree Hotel, New Jersey - Dr. Anthony Chan, Chief Economist, JP Morgan Chase Topics(s) - Dr. Donghoon Lee, New York FRB - Effective customs import strategies - Up dated US Customs and Border Protection guidelines Guest speakers at this seminar were Anthony Chan, the Chief on Korea-US FTA after 4 years Economist for JP Morgan Chase, and Dr. Dong Hoon Lee, a Speaker research officer at FRB, who spoke on the outlook for the U.S. - Mr. Daniel Gluck, Simon Gluck and Kane LLP economy, the FRB’s monetary policy, and international oil - Ms. Mariana del Rio Kostenwein, Simon Gluck and Kane LLP prices in the second half, and explained the issue of U.S. - Mr. Myles Harmon, Commercial and Trade Facilitation Division, household credit and debt. Regulations and Rulings of Office of International Trade 2016 Annual Review 13

At this seminar, an attorney from Simon Gluck & Kane, a law Outlook for New Renewable Energy in the U.S. firm specializing in Customs and International Trade Law, and the Energy Policy of the Trump delivered a lecture on the utilization of changes in tariff codes Administration and cost cutting. The next speaker, Myles Harmon, a director at CBP, explained the up dated Korea-US FTA guidelines. Date: December 8th, 2016 Place: Double Tree Hotel, New Jersey Topic(s) Outlook for Ocean Container Shipping in 2017 - Key trends in US renewable energy and future energy and Guide to Effective Logistics Operations policy of new US Gov. - Outlook on ‘Eenergy storage’ in US market Date: November 17th, 2016 Speaker Place: Double Tree Hotel, New Jersey - Ms. Amy Grace, Head of North America Research, Topics(s) Bloomberg New Energy Finance - 2017 Container Shipping Outlook: Analyzing a Market in - Ms. Yayoi Sekine, Leader of the Americas energy strategy Turmoil research team, Bloomberg New Energy Finance - System-based global logistics operations strategies Speaker This seminar, entitled “Outlook for the New Renewable - Mr. Mario O. Moreno, Senior Economist, IHS Maritime & Energy Market and the Energy Policy of the New Trump Trade Administration,” was jointly hosted with the Korean Consulate - Mr. Jinha Kim, Samsung SDS General in New York and held at the Double Tree Hotel in Fort Lee. Over 60 participants attended the seminar from US Guest speaker Mario Moreno, Senior Economist at HIS subsidiaries of Korean companies, financial institutions, and Maritime & Trade, predicted that the cargo volume from Asia Korean American businesses. to the Americas next year will be 5.1%. Jinha Kim, the North American Zone director for Samsung SDS, said, “Innovation is also needed in logistical services in the age of the New Normal,” and presented Amazon, which is expanding its hegemony beyond its online presence into the offline arena, as a model of logistical innovation. 14 2016 Annual Review

Speeches at the Executive Committee

Invitational Roundtable of the February Meeting of the Board of Directors

Date: February 16th, 2016 Place: PoongLim, New Jersey

At the meeting of the Board of Directors, a farewell party was held for KOCHAM directors who have worked hard for KOCHAM°Øs progress who are returning to their posts in Korea.

Invitational Roundtable of the June Meeting of the Board of Directors

Date: June 23rd, 2016 Place: Hankook Center Conference Room, New York Topic(s) - Brief guidelines of Museum of Modern Art Speaker - Ms. Iris Moon, Director/Curator

At this meeting of the Board of Directors, a curator from MoMA gave an introductory lecture on the museum’s history, artworks, and how to view the artworks, and the meeting was followed by a visit to MoMA to view the artworks with the curator providing a guided tour.

Invitational Roundtable of the October Meeting of the Board of Directors

Date: October 13th, 2016 Place: Hankook Center Conference Room, New York Topic(s) - Brief guidelines of Metropolitan Museum Speaker - Ms. Iris Moon, Director/Curator

At this meeting of the Board of Directors, a curator from the Metropolitan Museum gave an introductory lecture on the museum’s 2016 Annual Review 15

history, artworks, and how to view the artworks, and the meeting was followed by a visit to the Metropolitan Museum to view the artworks with the curator providing a guided tour.

Invitational Roundtable of the November Meeting of the Board of Directors

Date: November 19th, 2016 Place: Haworth Country Club, New Jersey

A total of 22 people attended the meeting, which was followed by an athletic competition.

Support for the Korean American Community

KOCHAM supports the 36th Annual Korean Parade

The Korean Parade was hosted by the Korean Association of Greater New York and the Korea Times. It has become an annual tradition, offering New Yorkers the opportunity to observe and share the culture of Korea. KOCHAM has been supporting this event every year.

KOCHAM Hope Sharing Fund

Funds raised through the sales of raffle tickets are distributed to those in need after the KOCHAM Board of Directors determines who the recipients will be $9,166 was contributed to the “KOCHAM Hope Sharing Fund” in 2016 through KOCHAM’s annual sports events and dinners. 16 2016 Annual Review

Summer Internship Program

Purpose : The internship program, implemented for its 12th year in 2016, gave young Korean-Americans, college students, college graduates and graduate students throughout the U.S., diverse opportunities to gain work experiences through KOCHAM member companies operating in a wide range of sectors.

Period : June 6th ? August 12th(10weeks) Initial Orientation : June 3rd Closing Ceremony : August 12th Number of Participating Interns : 120 Participating Companies (Including companies located in other states): 20

Asiana Airlines, aT Center New York, Hana Bank New York Agency, KHIDI USA, KB Kookmin Bank New York Branch, Nomura Research Institute America, Plus career, Woori America Bank, Woori Bank New York Agency, Dongbu Tour, InsightLab Pacific, CESNA Group, Inc., CJ Korea express U.S.A., Energy Progress LLC, H Mart, HRCap, Inc., LG Electronics USA Inc, Daewoo International America, Samsung C&T America, Inc., Samsung Electronics America, Inc.,

This year we introduced a new system where we invited HR personnel from the participating companies and conducted a group interview. Additionally, we held a closing ceremony to congratulate the interns who completed the 10-week internship program. 120 students attended the ceremony and 2 students were awarded for excellence performance during the internship, 3 students were awarded for best essays and 1 student was awarded for best internship evaluation. For this award ceremony, Samsung Electronics America generously sponsored five Samsung galaxy tablets. 2016 Annual Review 17

KOCHAM Member Services

KOCHAM Annual Golf Tournament

Date: Saturday, August 13th, 2016 Place: New York Country Club, New York Number of Attendees : 129

This annual event provided KOCHAM members and friends the opportunity to become better acquainted in a relaxed and informal setting while playing a challenging round of golf. Around 130 members and friends attended this popular event at New York Country Club. The event helped create new friendships and maintain old ones. This event was made possible through generous donations of KOCHAM member companies. In this year’s golf tournament, we used the New Perio method for the third time since the year before last which allows for more opportunity for players to win the tournament.

KOCHAM Annual Dinner Party

Date: Tuesday, December 6th, 2016 Place : Teaneck Marriott, New Jersey Number of Attendees : 199

KOCHAM invited members and supports to this annual event which is the year’s largest KOCHAM annual friendship event. About 200 members and supporters attended this annual party. This event was supported by the many members of KOCHAM. To begin the dinner party, Chairman Won Ki Kim expressed his gratitude to every member company for their continuous support and regard for KOCHAM’s activities throughout the year. Additionally, he expressed his sincere appreciation of those who made KOCHAM in its present form and asked for more support to expand KOCHAM’s mission and activities. 18 2016 Annual Review

Publications

2016-2017 KOCHAM White Paper on Trade This publication, a very meaningful starting point for systematic activities by KOCHAM, provides an overview of the economic situation of the United States, the current status of Korea-United States commerce, the business difficulties faced by Korean corporations active in the United States, the corporate social responsibility activities of Korean corporations in the United States, and the Korean trading and investment firms located throughout the United States.

2015 Annual Review KOCHAM Annual Review provided a comprehensive report on the activities of KOCHAM throughout the year of 2015. The review is categorized into several sections containing summaries of various KOCHAM events and news such as general assembly meeting, corporate seminars, internship programs, special events, member services, and Korean Educational Institute, as well as various other supportive activities for the Korean-American community.

KOCHAM Annual Golf Tournament program book An annual golf tournament is being hosted to promote friendship and exchange of information among member corporations. This booklet provides an overview and summary of the proceedings of the event, as well as the systematic organization of the event programs.

KOCHAM Annual Dinner Program Book For the second time, KOCHAM published a program book for the Annual Dinner. This book contains Chairman Won Ki Kim’s greeting, program contents, introduction of the invited singer, and list of sponsors and prizes. Mainly, this book was published in appreciation for the member and non-member companies who participated in holding a successful dinner party.

KOCHAM Brochure The brochure includes an overview of the KOCHAM, our mission, history and benefits for member companies.

KOCHAM Column published in Korea Daily News bi-weekly Since 2008, KOCHAM has published a column in the Korea Daily newspaper every Wednesday bi- weekly as to share ideas and thoughts of business leaders for the members of KOCHAM and the Korean community. These articles were from executives and representatives of the KOCHAM member companies. This year we have published 25 articles. 2016 Annual Review 19 KOCHAM Korean Educational Institute

Korean Educational Institute of KOCHAM operates the Weekend Korean School program.

Purpose This weekend program is designed to meet the educational needs of our members°Ø children as well as their Korean-American peers. In particular, through this program, children are prepared to successfully adapt to the Korean educational system in the event they visit or return to Korea.

Organization Korean Educational Institute (KEI) is formed of teachers, the parent-teacher association (PTA) and the KEI committee. There are 20 teachers who are dedicated to teaching Korean and Korean-American students how to follow the Korean educational system. The PTA is a major supporter of the KEI. The PTA is comprised of different groups, each group working on different issues such as safety, meals and school buses, to manage the smooth operation of the Saturday school program. Each week, there are approximately 20 parents involved in these activities. Lastly, the KEI committee is KEI°Øs biggest supporter. The KOCHAM directors participate in planning, managing, and operating the school. The current Chairman of the KEI committee is Mr. Jung Hoon Woo from Korea Health Industry Development Institute USA.

Program The KEI program is offered for two(2) semesters per year with fifteen(15) weeks in each semester. Students study for approximately seven(7) hours every Saturday. Nearly 200 students from Kindergarten to 9th grade meet on Saturdays to learn major subjects. Elementary-level classes offer Korean, Mathematics, Social studies, Music and Athletics. Middle school-level classes offer Korean, Mathematics, Social studies, Korean history, and Science. In addition to these subjects, the school offers courtesy education, life education, civic education and Chinese language. The Korean Educational Institute has provided its students with new digital educational formats and interactive learning programs by incorporating a variety of internet technology and programs from Korea. 20 2016 Annual Review

Board of Directors (As of December, 2016)

Chairman Hong, Young Hyundai Marine & Fire Insurance Co., Ltd Kim, Won Ki POSCO America Hwang, Alan AMOREPACIFIC U.S. Inc. Kang, Hee Sung KOLON USA Senior Vice Chairmen Kim, Byeong Ki Lotte International America Corp. Cho, Joo Wan LG Electronics U.S.A. Inc. Kim, Jin Won SK USA, Inc. Han, Soo Hee Samsung C&T America, Inc. Kim, Jinho Hyundai Corp.(U.S.A.) Ko, Jae Lin POSCO Daewoo International America Kim, Samuel CJ America, Inc. Corp. Lee, Jin Whan Samsung SDS America, Inc. Lee, Jong Suk Samsung Electronics America, Inc Lee, Jungsun Co. Ltd. Kim, Hyun Chul Korea International Trade Association New Lee, Koung Rae Korea Trade Insurance Corp. York Center Lee, Won Kyu NH Investment & Securities America, Inc. Park, Jong Tae Hanwha Holdings(USA) Inc. Vice Chairmen Chun, Byung Woo Small & medium Business Corporation Ahn, Hee Se Hankook Tire America Corp. Yoo, Young Jun Kookmin Bank Hong, Soon Jae Woori Bank New York Agency Kim, Sang Chan Asiana Airlines Consultant Seo, Jong Woo Korean Air Kim, Jong Choon Korea Trade Investment Promotion Agency Seong, Nak Joo Korea Development Bank Oh, Hong Sog Financial Supervisory Service New York Rep. Office Woo, Jung Hoon Korea Health Industry Development Ryoo, Sang Dai The Bank of Korea New York Rep. Office Institute USA Honorary Chairman Auditor Ha, Kiryong Doosan Heavy Industries America LLC. Shin, Kyung Taek The Export-Import Bank of Korea New York Rep. Office Advisors Kim, Yung Duk 1st&2nd Chairman of KOCHAM Board Directors Kim, Young Man 3rd&4th Chairman of KOCHAM Bae, Jin Soo Shinhan Bank New York Branch Chung, Hong Taek 5th Chairman of KOCHAM Baek, Jong Deuk KEB Hana Bank, New York Agency Suk, Yeun Ho 6th&7th Chairman of KOCHAM Cha, Jae Young Industrial Bank of Korea Ahn, Myeong Kyu 9th Chairman of KOCHAM Cho, Yong Won Hyundai Merchant Marine America Eom, Eul Yong Nong Hyup Bank New York Branch Hong, Kuk Chul CJ Korea Express U.S.A. Inc. 2016 Annual Review 21

Sub-committees (As of December, 2016)

Development Committee

Chairman Cho, Joo Wan LG Electronics U.S.A. Inc. Members Han, Soo Hee Samsung C&T America, Inc. Kim, Hyun Chul Korea International Trade Association New York Center Lee, Jong Seok Samsung Electronics America, Inc. Ko, Jae Lin Daewoo International America Corp. Seong, Nak Joo Korea Development Bank

Trade Committee

Chairman Kim, Hyun Chul Korea International Trade Association New York Center Members Ahn, Hee Se Hankook Tire America Corp. Chun, Byung Woo Small & medium Business Corp. Kim, Jin Ho Hyundai Corp.(U.S.A.) Shin, Hyun Gon aT Center New York

Seminar & Workshop Committee

Chairman Hong, Soon Jae Woori Bank New York Agency Members Cho, Yong Won Hyundai Merchant Marine America(HMMA) Hong, Young Hyundai Marine & Fire Insurance Co., Ltd. Kim, Byeong Ki Lotte International America Corp. Lee, Jin Whan Samsung SDS America, Inc. Park, Jong Tae Hanwha Holdings(USA) Inc. 22 2016 Annual Review

Sub-committees (As of December, 2016)

Publication Committee

Chairman Kim, Sang Chan Asiana Airlines Members Lee, Won Kyu Woori Investment & Securities America Inc. Kim, Samuel CJ America, Inc. Cha, Jae Young Industrial Bank of Korea Yoo, Young Jun Kookmin Bank

Korean Educational Institute Committee

Chairman Woo, Jung Hoon Korea Health Industry Development Institute USA Members Baek, Jong Deuk KEB Hana Bank, New York Agency Lee, Koung Rae Korean Trade Insurance Corp. Hong, Kuk Chul Korea Express USA, Inc. Kang, Hee Sung KOLON USA Shin, Kyung Taek The Export-Import Bank of Korea New York Rep. Office

Events Committee

Chairman Seo, Jong Woo Korean Air Lines, Co., Ltd. Members Bae, Jin Soo Shinhan Bank New York Branch Eom, Eul Yong NH Bank New York Representative Office Kim, Jin Won SK USA, Inc Lee, Jungsun Samsung Life Insurance Co. Ltd. 2016 Annual Review 23

List of KOCHAM Members (As of December, 2016)

AMOREPACIFIC U.S. Inc. Hyundai Marine & Fire Insurance Co., Ltd Asiana Airlines Hyundai Merchant Marine America aT Center New York Hyundai Motor America Baker Tilly Virchow Krause, LLP Hyundai Securities (America) Inc. Bank of Hope Industrial Bank of Korea Best Home Fashion Inc. KB Insurance Co. Ltd. US Branch CESNA GROUP INC. KEB Hana Bank, New York Agency Cheil USA Inc. Motors America, Inc. Choi & Park, LLC Kiswire Trading, Inc. Choi, Kim & Park, LLP KLC Architects, PC CJ America, Inc. KOLON USA CJ Korea Express U.S.A. Inc. Kookmin Bank Daesang America, Inc. Korea Development Bank Daewoo Securities (America) Inc. Korea Electric Power Corp. Deloitte Touche LLP Korea Health Industry Development Institute USA DOOSAN HEAVY INDUSTRIES AMERICA LLC Korea Hydro & Nuclear Power Co., Ltd (New York Office) Econo Agency Korea International Trade Association EPL LED KOREA INVESTMENT CORPORATION Ernst & Young Korea Tourism Organization New York Office Financial Supervisory Service Korea Trade Insurance Corp. Gyeongbuk Provincial Government, New York Office Korea Trade- Investment Promotion Agency Co., Ltd Korean Air Hankook Tire America Corp. Korean Reinsurance Company New York Liaison Office Hansol America, Inc KPMG LLP/Korean Practice Hanssem Corp. KYOBO Life New York Representative Office Hanwha Holdings(USA) Inc. Lewis Brisbois Bisgaard & Smith LLP Hanwha Life New York Representative Office LG CNS America Inc. Hiossen, Inc. LG Electronics U.S.A. Inc. HONORS HAVEN RESORT & SPA Lotte International America Corp. HR Cap, Inc. Lotte New York Palace Hotel HS Ad America Maynard Cooper & Gale Hyundai Corp. New York Country Club 24 2016 Annual Review

List of KOCHAM Members (As of December, 2016)

NH Investment & Securities America, Inc. Solomon Insurance Agency Nixon Peabody LLP Steptoe&Johnson LLP Nomura Research Institute America, Inc Sunny Marketing Systems, Inc. Nong Hyup Bank New York Branch The Bank of Korea Pantos US The Choi Law Group, LLC PLUS CAREER INC The Export-Import Bank of Korea POSCO America Transwestern Commercial Services POSCO DAEWOO AMERICA CORP. Traub, Lieberman, Straus and Strewsberry, LLP Samsung C&T America, Inc. Wicked Fashions, INC. Samsung Electronics America, Inc. Woori Bank New York Agency Samsung Fire & Marine Insurance Co., Ltd. Yoon & Kim LLP Samsung Life Insurance Co. Ltd. Samsung SDS America, Inc. Samsung Securities (America), Inc. New Members in 2016 Samyang Corporation NY Office AMOREPACIFIC U.S. Inc. Secur-All Insurance Agency EPL SGI New York Representative Office Gyeongbuk Provincial Government, New York Office Sheppard Mullin HS Ad America Shinhan Bank New York Branch Lewis Brisbois Bisgaard & Smith LLP Shinhan Investment America, Inc. Lotte New York Palace Hotel Simon Gluck & Kane LLP Maynard Cooper & Gale SK USA, Inc. Pantos US Small & medium Business Corp. Secur-All Insurance Agency Smart Space LLC Sheppard Mullin LLP Smith, Gambrell & Russell, LLP 2016 Annual Review 25

Membership

Overview & Mission KOCHAM is a non-profit private business organization, headquartered in New York City. Founded in June 1992, KOCHAM now serves over 300 U.S.-based Korean companies located across the United States. Our members include most of the major Korean corporations operating in the U.S., as well as locally based Korean financial institutions, attorneys, CPAs and other service professionals.

As the most prominent representative of U.S.-based Korean subsidiary firms, KOCHAM fulfills a multifaceted role. In addition to helping our members raise their management skills, KOCHAM is active in the development of °∞corporate diplomacy°± initiatives to build greater awareness and goodwill between the people and the business communities of Korea and the United States. KOCHAM is also dedicated to building closer relationships between Korea and U.S. firms.

Membership Categories KOCHAM offers Korean companies doing business in the U.S.A. and U.S.- based companies an opportunity to join our organization through two (2) membership categories.

General Membership U.S. based corporations, partnerships and associations that are owned or operated by Korean personnel and employees with parent company (HQ) located in Korea.

Special Associate Membership Local companies or organizations would be mutually beneficial to the company and KOCHAM member companies. The member shall receive all the rights and privileges of Member Companies except the rights to hold office or to vote. Prior to admission, all applications must be reviewed and approved by the President and Vice Presidents and the Executive Committee.

Application Form Please download Membership Application form and send it to us by Fax (212-644-9106) or Email ([email protected]).

Membership Application English http://kocham.org/membership Korean http://kocham.org/membership/become-a-member 26 2016 Annual Review

Membership

KOCHAM provides following services to its members:

1. Through the visits and official letters, we request U.S. Federal agencies to improve the difficulties that our members have faced while conducting businesses in U.S.

2. Hosts monthly business/economy seminars, special VIPs round table meetings and annual business workshops with the guest speakers from various business fields.

3. Provides the daily and weekly economic news and reports in Korean to member companies.

4. Publishes guidebooks that provide information related to business and corporate activities in U.S. for our members. We send to member companies the booklets that have been published such as “Securing Accounts Receivable”, “Corporate Taxes in the U.S.A.”, “Business Entity Formation in the USA”, “Guidebook for the American Life” and “KOCHAM White Paper on Trade”.

5. Posts the information on new member names and contact person on our website (www.kocham.org).

6. Organizes our Annual Golf Tournament, in which approximately 130 members are expected to participate usually every August, and Annual Dinner Party where 200 members attend in every December. The Golf Tournament of 2016 was held on Saturday, August 13th at New York Country Club, and the Annual Dinner Party of 2016 was held on Tuesday, December 6th at Teaneck Marriott Hotel. These events have been created to promote networking among our member companies.

7. Provides college/university students a 10-week summer internship program(early June-mid August) by dispatching them to our member companies. And operates Weekend Korean School, which is designed to educate children and prepare Korean- American peers adapt successfully into Korean educational system. Please visit www.woorischool.org for more information.

8. Offers membership discount plan; Hyundai Motors, UPS, FedEx, Dongbu Tour, Korea Express, Teaneck Marriot Hotel, etc.

9. Promotes friendly relations among the member companies and improve their businesses in the U.S.A. by the networks. We will provide the new members with the contact information of any of our member companies if the new members want to get. Copyright ⓒ2017 By Korean Chamber of Commerce and Industry in the U.S.A., Inc.

All rights reserved. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, without written permission from the publisher.

Publishing Date: February, 2017

Published by Korean Chamber of Commerce and Industry in the U.S.A., Inc. 460 Park Ave, Suite 410, New York, NY 10022 Tel: 212-644-0140 Fax: 212-644-9106

Edited by KOCHAM Publication Committee

Printed by HANARO Communications 82-2-2269-8136 | [email protected] Korean Chamber of Commerce and Industry in the USA, Inc