Seoul, 31 March 2023 (TDI): The United States (US) Trade Representative, Katherine Tai met with the President of the Republic of Korea, Yoon Suk Yeol, to discuss strengthening trade and economic ties between the two nations.
It was an honor to meet with @President_KR today ahead of his state visit to the U.S. next month. I updated him on our ongoing trade engagements with the Republic of Korea, including the Indo-Pacific Economic Framework. pic.twitter.com/3K6kGs04rN
— Ambassador Katherine Tai (@AmbassadorTai) March 30, 2023
During their meeting, Ambassador Tai and President Yoon reaffirmed their joint commitment to strengthening the relationship between the US and Korea.
Above all, they discussed the upcoming state visit by President Yoon to Washington DC on April 26, which they both view as a unique opportunity to celebrate the strong alliance between the two countries.
Furthermore, Ambassador Tai expressed her appreciation for Korea’s active participation in the negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF).
Also, she welcomed President Yoon’s insights on Korea’s evolving role in the region and its pursuit of becoming a global pivotal state.
Moreover, Ambassador Tai emphasized that the US values Korea’s contributions to the region and looks forward to further cooperation.
Additionally, Ambassador Tai thanked President Yoon and the Korean people for the hearty and cordial reception she received as head of the US delegation to the Indo-Pacific Regional Meeting of the second Summit for Democracy.
Likewise, she commended Korea for its active participation in the summit and its dedication to promoting democratic values and principles.
타이 무역대표부 대표는 또한 다음 달 미국 국빈방문을 앞두고 윤석열 대통령 @President_KR 만나게 되어 영광이라며, 인도-태평양 경제 프레임워크를 포함해 한국과의 지속적인 무역 협정에 대한 진행 상황에 대해 이야기했다고 밝혔습니다. https://t.co/FiATWG1vuz
— 주한미국대사관 U.S. Embassy Seoul (@USEmbassySeoul) March 31, 2023
US-Korea Economic ties
The US and Korea have a long-standing and mutually beneficial trade relationship. The two countries have made significant progress in recent years, particularly with the ratification of the US-Korea Free Trade Agreement in 2012.
Since then, bilateral trade has grown steadily, with the United States exporting over $72 billion worth of goods and services to Korea in 2021 alone.
Apart from that, Ambassador Tai and President Yoon also discussed opportunities for further economic cooperation, particularly in the areas of clean energy and technology.
They recognized the importance of collaboration in these fields to address shared global challenges, such as climate change.
Also Read: South Korea, Japan reach historic agreement on bilateral relations
In a nutshell, this meeting reflects the strong and enduring alliance between the US and Korea. Both countries remain committed to strengthening their economic and trade ties, promoting democratic values & addressing global challenges through cooperation.
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