March 18, 2026 Seattle Korean Daily

▶ Held March 14 in Bellevue… 15 participants discussed government contracting, finance, EVs, AI, and more
▶ “WEBS registration begins”… Step-by-step guidance on participating in Washington State contracts
▶ Emphasis on life insurance, trusts, and retirement planning… “Too many people don’t realize their importance”

The Korean American Chamber of Commerce of Washington State (KACCWA, President Myung Kyu Oh, Board Chair Eun Ji Yeon) held its March town hall meeting on March 14 at the Bellevue Chamber of Commerce conference room (1611 116th Ave NE). Fifteen participants attended, engaging in open discussions on key topics relevant to Korean American businesses, including Washington State government procurement, small business financial strategies, PSE electric vehicle rebates, and AI applications.

◈ “WEBS Registration Is the First Step”… Focus on Government Contracting

A central topic of the meeting was how to participate in Washington State procurement opportunities. President Myung Kyu Oh emphasized that the state government is the largest buyer of goods and services and encouraged Korean American small business owners to actively participate.

The first step is registering with WEBS (Washington Electronic Business Solution). Any business with a license, UBI number, and EIN can register. Once registered, businesses automatically receive bid opportunities via email.

Oh also shared his own successful contracting experience, stressing that “those who try are the ones who win contracts.” The Chamber plans to host a larger open-house seminar in May in collaboration with DES (Department of Enterprise Services), SCAN (State Contracting Assistance Network), and BDAC (Business Diversity Advisory Committee).

The EDGE program for minority-owned construction businesses was also introduced. This program targets small construction contracts under $300,000, offering training and real contract opportunities. Participant Sung Kye Park, with 29 years of experience in Washington State government, advised attendees not to overlook pilot programs, noting that “pilot phases offer flexibility and greater benefits.”

◈ Life Insurance, Trusts, Retirement Planning… “Too Many Regret Not Knowing Earlier”

Event moderator and Education Director Hye Ri Lee shared personal experiences to highlight the importance of financial planning. After facing costly medical treatment due to an eye condition, she realized the value of insurance.

“I canceled policies because $30, $50, or $120 felt expensive—but when I got sick, I realized how essential they were,” she said, urging families to secure basic financial protection.

Life insurance with living benefits was emphasized as a safety net not only for death but also for serious illness or disability. Insurance expert Mira Park noted, “I’ve seen families lose their homes because they couldn’t cover even a month of expenses after losing the primary breadwinner. Even a small policy can protect your family.”

Attorney Daniel Yoon highlighted the importance of proper trust planning. He warned about Medicaid’s claw-back provision, which allows the government to recover long-term care costs from a deceased recipient’s estate—often targeting the family home. Transferring assets directly to children can also be risky due to potential divorce or legal issues. “A properly structured trust ensures your assets are distributed according to your wishes,” he said.

Financial advisor Mi Kyung Cho shared retirement planning tips, including:

• Individuals age 55+ may withdraw from a 401(k) without penalty
• Company stock withdrawn before IRA rollover may be taxed at capital gains rates instead of ordinary income
• Social Security requires 40 credits (~10 years of work), and even a small shortfall can disqualify benefits

She also noted that Washington State plans to implement a mandatory retirement savings program for businesses with five or more employees starting in 2027. Participants proposed hosting a financial planning expo later this year with attorneys, financial advisors, and insurance professionals.

◈ PSE EV Rebates & Hyundai Partnership… Chamber Promotes EV Adoption

Vice President Michael Odle introduced an EV education program supported by Puget Sound Energy (PSE). The program offers rebates for EV purchases, incentives for charging infrastructure, and general EV education for businesses and households within the PSE service area.

Eligible vehicles must be manufactured in the U.S., excluding Tesla due to its proprietary charging network. The Chamber plans to collaborate with Hyundai, focusing on U.S.-produced models such as the IONIQ 5 and IONIQ 9.

Hyundai is offering up to $10,000 in cashback for the IONIQ 9. Additionally, EVs over 3,000 pounds used for business purposes may qualify for up to a 30% tax credit. Since this benefit applies during tax filing, consultation with an accountant is strongly recommended.

Participants also discussed how gas station owners could transition by integrating EV charging services. The Chamber plans to host a dedicated seminar with Hyundai representatives and tax experts to further explain EV incentives and strategies.

◈ “10 Free Apps Toolkit” to Boost Small Business Productivity

Special guest Shig Homsher introduced a toolkit of 10 free apps designed to improve productivity and marketing for small businesses. He operates a company supporting small businesses through these tools (website: wabusinesstoolkit.com) and has close ties to the Korean community.

◈ Strengthening Korean American Business Networks

The meeting concluded with discussions on the Chamber’s future direction. Participants agreed that the Chamber should act as a bridge connecting prime contractors with small Korean-owned businesses.

There was also discussion on AI adoption in business. Michael Odle shared that after implementing AI tools, his organization reduced staff while significantly increasing productivity, stating, “One employee can now do the work of six.”

The need for AI education—especially for seniors and digitally underserved groups—was emphasized, along with proposals for future seminars on business AI applications.

Fifteen participants attended, including Myung Kyu Oh, Han Woong, Michael Odle, Sujin Kang, Iku Lee, Mi Kyung Cho, Eun Sil Ha, Dong Man Kim, Shig Homsher, Sung Kye Park, Daniel Yoon, Bo Kyung Oh, Eun Ji Yeon, Hye Ri Lee, and Mira Park.

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