S. Korean president calls Korea, U.S. FTA revision talks "job well done"
Arirang News
2018-04-03
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Calling it a job well done, President Moon Jae-in showed appreciation on Monday for his trade officials' accomplishments with regards to the recently concluded FTA negotiations between Seoul and Washington.
Our chief Cheongwadae correspondent Moon Connyoung reports. South Korean President Moon Jae-in is relieved that any potential conflict between Seoul and Washington have been settled... by concluding negotiations on the six-year-old Korea, U.S. free trade agreement.
Speaking at a weekly meeting of his top aides on Monday, the South Korean leader gave credit to his trade officials who spent weeks hotel-hopping in Washington as they raced to overcome major trade hurdles with their U.S. ally ahead of high-stakes nuclear discussions with North Korea.
"As trade protectionism turns into a dominant trend around the world, removing external uncertainties by swiftly wrapping up talks for the Korea, U.S. FTA amendment is a huge accomplishment."
The trade officials' efforts culminated in a revised pact the two countries announced last week that gives U.S. automakers and pharmaceuticals more access to the South Korean market... while lifting the threat of a 25 percent U.S. tariff on South Korean steel in exchange for quotas that will cut imports of Korean steel by about 30 percent.
The president, however, still asked his government to carefully review possible impacts of the revised free trade deal and draw up necessary measures to make sure local industries aren't negatively affected.
"It's also a job well done in that it has removed potential conflicts between the two countries when close cooperation between South Korea and the U.S. is absolutely criticial for the establishment of peace on the Korean Peninsula and resolving North Korea's nuclear issue."
"By securing a new approach to bilateral trade, the presidential Blue House believes... South Korea and the U.S. can focus on the road ahead... and keep all of their attention on the high politics of peace and security... with the South Korean president set to meet North Korean leader Kim Jong-un at the end of this month and the first-ever North Korea, U.S. summit expected to take place by May.
Moon Connyoung, Arirang News, the Blue House."
Our chief Cheongwadae correspondent Moon Connyoung reports. South Korean President Moon Jae-in is relieved that any potential conflict between Seoul and Washington have been settled... by concluding negotiations on the six-year-old Korea, U.S. free trade agreement.
Speaking at a weekly meeting of his top aides on Monday, the South Korean leader gave credit to his trade officials who spent weeks hotel-hopping in Washington as they raced to overcome major trade hurdles with their U.S. ally ahead of high-stakes nuclear discussions with North Korea.
"As trade protectionism turns into a dominant trend around the world, removing external uncertainties by swiftly wrapping up talks for the Korea, U.S. FTA amendment is a huge accomplishment."
The trade officials' efforts culminated in a revised pact the two countries announced last week that gives U.S. automakers and pharmaceuticals more access to the South Korean market... while lifting the threat of a 25 percent U.S. tariff on South Korean steel in exchange for quotas that will cut imports of Korean steel by about 30 percent.
The president, however, still asked his government to carefully review possible impacts of the revised free trade deal and draw up necessary measures to make sure local industries aren't negatively affected.
"It's also a job well done in that it has removed potential conflicts between the two countries when close cooperation between South Korea and the U.S. is absolutely criticial for the establishment of peace on the Korean Peninsula and resolving North Korea's nuclear issue."
"By securing a new approach to bilateral trade, the presidential Blue House believes... South Korea and the U.S. can focus on the road ahead... and keep all of their attention on the high politics of peace and security... with the South Korean president set to meet North Korean leader Kim Jong-un at the end of this month and the first-ever North Korea, U.S. summit expected to take place by May.
Moon Connyoung, Arirang News, the Blue House."
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