The United States and South Korea are realizing the benefits of enhanced trade and investment opportunities between the two countries.
“President Obama and South Korea’s President Lee agreed, on the margins of G-20 Summit, to put the US- Korea FTA (Free Trade Agreement) (also known as “KORUS”) on a path towards approval. Trade Ministers are now working to meet the deadline of resolving outstanding issues by the time President Obama visits Seoul in November. As President Obama said, “It’ the right thing to do for our country. It’s the right thing to do for Korea. It’ll strengthen our commercial ties and create enormous potential economic benefits and create jobs here in the United States, which’s my number one priority.” In Korea, there’s a similarly strong sentiment about the importance of KORUS for the Korean economy,” stated Microsoft.