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    Secretary Locke and Congressional Delegation Conclude Productive South Korea Meetings

    Fri, 04/29/2011 - 09:00 EDT - US Department of Commerce Blog
    • Korea CODEL
    • Korean Free Trade Agreement
    • KORUS FTA
    • Office of the Secretary
    • RDF10
    • Secretary of Commerce Gary Locke
    • U.S.-Korea trade agreement

    Today Secretary Gary Locke and the congressional delegation concluded
    their three-day trip to Seoul with a visit to the Demilitarized Zone – the
    border between South and North Korea – and a lunch with U.S troops and their
    families at Yongsan Garrison to thank them for their service. The group also
    met with leaders of South Korea’s Democratic Party and Grand National Party at
    Korea’s National Assembly to discuss the U.S.-South Korea Trade Agreement
    (KORUS).

    “Over the last few days we have had the
    opportunity to see first-hand the benefits that KORUS will bring to the
    economies of both the U.S. and Korea,” Locke said. “There is great demand for
    U.S. products -- from made-in-America cell phone components to life-saving
    medical equipment. This agreement will increase mutually beneficial trade,
    strengthen our economies and create jobs in both of our countries.”

    Locke also visited Seoul National University Hospital for a
    demonstration of Varian Medical Systems’ (Palo Alto, Calif.) advanced
    radiotherapy technology.  Varian is the world leader in this life-saving,
    cancer treatment technology with approximately $34 million worth of annual
    sales to South Korea.  Their equipment is manufactured in California and
    Utah and exported globally. Under the U.S.-South Korea trade agreement, the
    tariff on Varian’s products would be eliminated, making the company more
    competitive in the Korean market. 

    During
    the trip, Locke and the congressional delegation met with South Korea’s key
    political leaders, including President Lee Myung-Bak,
    the Minister of Knowledge Economy, the Minister of Trade, the Minister of
    Foreign Affairs, as well as American and South Korean business leaders, and
    university students. They stressed the importance of the U.S.-South Korea
    agreement to strengthening the countries’ economies and the bilateral relationship. 
    Locke also visited Pantech’s manufacturing facility to see assembly of cell
    phones using high-tech U.S.-made components.

    “As
    a Korean War veteran, I couldn't have been more proud to witness today's
    'Dynamic Korea.' Seoul's skyscrapers, booming businesses and rising apartment
    buildings are a testament to the resiliency and determination of the Korean
    people,” U.S. Rep. Charlie Rangel (D-N.Y.) said. “I remain optimistic that the
    U.S. Congress will soon ratify the pending free trade agreement between our two
    nations.”

    “It
    has been a successful trip and we understand the importance of and the depth of
    feeling South Koreans have about concluding KORUS," U.S. Rep. Jim
    McDermott (D-Wash.) said. "We have been friends with South Korea for a
    long time, and they want us to recognize them for what they are – an economic
    powerhouse. The Korean government has made it clear this trade deal is a
    priority, and they were willing to show flexibility to ensure it is a win for
    both countries."

    "In
    today's world we need strong allies like South Korea more than ever,” U.S. Rep.
    Joseph Crowley (D-N.Y.) said.  “Expanding our trade relationship is the
    right thing to do for America's national security as well as for growing our
    exports and maintaining U.S. competitiveness.  I look forward to working
    to secure Congressional approval of KORUS upon our return to the U.S.  And
    I want to thank South Korea for the warm welcome and hospitality they've shown
    to us throughout our visit." 

    "This
    trip has been an unforgettable experience. I appreciate the invitation from
    Secretary Locke, and I thank the people of Korea for their hospitality,"
    U.S. Rep. Dave Reichert (R-Wash.) said. "This visit has served to
    reinforce the economic benefits of the KORUS FTA to both the United States and
    to Korea. I look forward to sharing what I have learned on this trip as I
    continue working with my colleagues to promote the benefits of this
    agreement."

    See
    Congressman Jim McDermott’s guest blog post,
    CEO of Varian Medical Systems Timothy E. Guertin’s guest blog post,
    and updated photos from
    today’s events. 

    • Original article
    • Login or register to post comments
     

    Related

    • Secretary Locke and Members of Congress Tour Pantech and Meet with U.S. Businesses in Korea

      On the second day of the CODEL trip to Korea, Secretary Locke and the congressional delegation visited Pantech, one of the largest mobile phone makers in South Korea, to see firsthand how the U.S.-South Korea Trade Agreement will help American and South Korean businesses and workers in today’s global manufacturing and supply chain.  Currently, Pantech imports about half a billion dollars worth of U.S. products annually, including chipsets from Qualcomm (San Diego, Calif.) and Gorilla Glass from Corning Inc. (Corning, New York).  Gorilla Glass is manufactured in Harrodsburg, Kentucky and is exported around the world for use in smart phones, tablets and other mobile devices and has applications across a large range of industries.  In addition, nearly 60 percent of Pantech’s production equipment is made by U.S. companies. With the approval and implementation of the U.S.-South Korea agreement, Pantech is expected to quadruple its purchase of U.S. products by 2015, while Corning will see existing tariffs on Gorilla Glass eliminated immediately upon implementation of the agreement. Corning, utilizing these benefits, will gain market share in South Korea’s growing mobile-device market by enhancing its competitiveness vis-à-vis other manufacturers in the region.  Corning is also investing $180 million to expand its factory in Harrodsburg in order to meet the growing demands of its customers in Asia, including South Korea.  Earlier in the day, Locke met with his South Korean counterpart, the Minister of Knowledge Economy Choi Joong-Kyung, to discuss KORUS and the cooperative relationship between the U.S. Department of Commerce and the Ministry of Knowledge Economy.

    • Secretary Locke and Congressional Delegation Met With Korean President Lee to Discuss U.S.-Korea Commercial Relationship

      Today, Secretary Gary Locke and members of Congress met with the President of the Republic of Korea Lee Myung-Bak at the Blue House. Locke, who is leading a bipartisan congressional delegation to build support for the passage of the U.S.-Korea Trade Agreement (KORUS), reinforced the importance of the bilateral commercial relationship as part of the two countries’ historic alliance and emphasized the importance of KORUS in spurring economic growth in both the U.S. and Korea. “Korea is a vital ally, a strong friend, and an important economic partner,” Commerce Secretary Gary Locke said. “KORUS is a win-win for both the U.S. and Korea. This agreement will strengthen our partnership and take it to the next level, by lowering tariffs and creating a more level playing field for businesses in both countries.” The congressional delegation consists of four members from the U.S. House of Representatives – Reps. Charles Rangel (D-NY), Jim McDermott (D-WA), Joseph Crowley (D-NY) and David Reichert (R-WA). Locke and the delegation discussed the benefits of KORUS for both the U.S. and Korea in productive bilateral meetings with Minister of Foreign Affairs and Trade Kim Sung-Hwan and Trade Minister Kim Jong-Hoon. Earlier in the day, they met with the Board of Governors of the American Chamber of Commerce in Korea, as well as top Korean business executives.  Locke and the delegation also met with a diverse group of Korean university students over afternoon tea where they had an in-depth discussion about the youth perspective on KORUS and how various elements of the agreement will benefit the economic future of both countries.  They talked about Korea’s impressive economic growth and its emerging economic leadership in the region and the world.

    • Secretary Locke Kicks Off CODEL to Korea

      Guest blog post by Secretary of Commerce, Gary Locke.This week, I’m visiting the Republic of Korea, one of the United States’ closest allies in the world, and one of our most important trading partners.  Last December, President Obama signed a landmark trade deal with Korea that could boost annual exports of American goods to Korea by up to $11 billion, supporting at least 70,000 U.S. jobs. But the deal still needs to pass Congress, which is why this week, I’m leading four Members of Congress on a fact-finding mission that will demonstrate firsthand how this trade deal will lead directly to more sales of American goods and services abroad and more American jobs here at home. Korean and U.S. businesses are already collaborating, innovating and trading together like never before.  This week, members of our delegation – which includes Representatives Dave Reichert and Jim McDermott from my home state of Washington and Representatives Joseph Crowley and Charles Rangel from New York – are getting to see this up close. Tomorrow, we visit Pantech, one of Korea’s largest mobile phone makers, and a major buyer of U.S. technology. 

    • The Unbelievable KORUS Collapse and the (Near)Death of US Trade Policy

      The US trade community, including your humble correspondent, was shocked to wake up this morning to the utterly insane and depressing news that President Obama and Korean President Lee Myun Bak have failed to reach a final agreement on the US-Korea FTA that would have cleared the way for the White House to send the agreement - completed and signed in 2007 - to congress for an up-or-down vote in 2011:

    • U.S.-Korea Trade Agreement Provides Opportunities for U.S. Export Businesses

    • Varian Medical Systems Could Save More Lives and Compete More Efficiently Under U.S.-Korea Trade Agreement

      Guest blog post by Timothy E. Guertin, President and CEO of Varian Medical Systems of Palo Alto, CA. Editor’s Note:  Varian Medical Systems focuses energy on saving lives. By partnering with customers and others, the people of Varian develop leading solutions for improving cancer treatment, X-ray imaging, and security. Varian Medical Systems is honored that Secretary Locke and an esteemed Congressional delegation devoted time to seeing our systems treating cancer patients at Seoul National University Hospital (SNUH), while on a trade mission to the Republic of Korea.  SNUH, a longtime partner of Varian, provides some of the most leading edge cancer treatments available to those stricken with this terrible disease.  The Varian linear accelerators that perform radiotherapy treatments at SNUH were manufactured in California and then installed and serviced by a team of technicians in Seoul, providing jobs on both sides of the Pacific. While visiting the radiation oncology department at SNUH, Secretary Locke was able to see firsthand the easy and painless process a cancer patient goes through when being treated with radiotherapy.  Radiotherapy is a non-invasive technique that targets tumors with high-energy photon beams that stop cancer cells from reproducing.   Treatments on Varian linear accelerators are tailored for each patient, focusing on breast, prostate, brain, lung and other types of cancers.    In the next several months, SNUH will be acquiring the new Varian TrueBeam system that will enable clinicians in Seoul to treat more complex cases, while at the same time reducing treatment times for patients.

    • KORUS Afterthoughts

      With a KORUS deal in the bag and both Presidents signalling strong support, here are a few more things - some big, some little - to consider since last Friday's original post on the new agreement.

    • Behold, the Amazing Disappearing House Opposition to KORUS!

      On Monday, Congressman Mike Michaud (D-ME) and 20 of his House colleagues joined with 35 members of South Korea's opposition party to pen a letter demanding broad revisions to the Korea-US Free Trade Agreement: A group of United States congressmen yesterday sent a letter drafted with their legislative counterparts in Korea to Presidents Barack Obama and Lee Myung-bak urging the renegotiation of the U.S.-Korea bilateral free trade agreement, according to a U.S. trade online magazine....

    • North Korea could spiral into an ‘uncontrollable situation’: UN Secretary-General

      ROME — UN Secretary-General Ban Ki-Moon warned Tuesday that even a slight miscalculation on the Korean peninsula could spiral into an “uncontrollable situation” as he urged North Korea to tone down its provocative rhetoric and ease the “very dangerous” level of tension.

    • "Success": Obama Administration Finalizes Already-Finished Free Trade Agreement by Making it Less Free

      At long last, the US-Korea FTA looks to be headed for the very-delayed finish line: The United States and South Korea have a reached a deal on auto issues that have blocked congressional approval of a free-trade agreement for three years, sources familiar with the talks said on Friday. As part of the deal, South Korea agreed to let the United States keep a 2.5 percent tariff on Korean-built cars for five more years, rather than cut it immediately, the sources said.

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