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.

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.

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.

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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.