Two leaders hold summit on FTA, North Korea, Libya and alliance


WASHINGTON D.C. ― President Lee Myung-bak on Thursday celebrated the U.S. Congress ratification of the Korea-U.S. free trade agreement during summit talks with U.S. President Barack Obama.

The Senate approved the FTA bill on Wednesday by a vote of 83 to 15, hours after the House of Representatives approved it, passing the ball to the Korean National Assembly. The bilateral free trade pact was signed in June 2007 and revised in December last year.

“Today’s historic vote by the U.S. House of Representatives and the U.S. Senate to approve the KORUS FTA heralds a new era in the alliance. Our two countries will embark on a path of co-prosperity and strengthened relations,” Han Duk-soo, Korean ambassador to the U.S., said in a statement.

“We look forward to working with the U.S. administration and the U.S. business community to enable the people of both countries to reap the benefits of the agreement with implementation in early 2012.”

Referring to the ratification as the most epochal event between the two countries since their military alliance in 1953, Lee said protectionism should be rejected at all times.

“Korea and the U.S. have big roles to play regarding many global changes such as the democratization movements in the Middle East,” Lee said during a luncheon meeting with the chief executives and vice presidents of Korean and American businesses Wednesday.

“Our military alliance of the past 60 years will move on to an economic alliance.” 

During the summit on Thursday, Lee and Obama exchanged views on how to improve the deterrence of North Korea’s asymmetric threats and how to cooperate in assisting Libya. The Korean government announced that it would help Libya plan economic development, improve administrative capabilities, medical care and construction of infrastructure.

The two leaders also assessed their countries’ alliance and discussed ways to strengthen cooperation to tide over global economic jitters, expand the WEST program for Korean students to work, study and travel in the U.S. and exchanges of students, teachers and businessmen.

In a joint press statement issued after the summit, the two sides reaffirmed that the bilateral alliance was “the lynch-pin for security in the Pacific region,” to the U.S. and that they will further solidify the “Pacific Partnership for Peace and Prosperity.”

The two leaders expressed expectations that the FTA would upgrade Korea-U.S. relations, agreed to beef up cooperation on green growth, defense, North Korea policy and assistance of Libya in the seven-point statement.

Later Thursday, Lee delivered a speech to both the Senate and the House highlighting his vision for the bilateral alliance and Korea’s diplomatic policy direction.

On Wednesday, the second day of Lee’s five-day official state visit, Obama invited Lee to an unofficial dinner at a local Korean restaurant Woo Lae Oak.

The two leaders were joined by their interpreters and three aides each ― Foreign Minister Kim Sung-hwan, senior presidential secretary for foreign affairs and security Chun Young-woo, presidential secretary for external strategies Kim Tae-hyo, Secretary of State Hillary Clinton, White House National Security Council’s director for Japan, South Korea and North Korea Daniel Russell and Obama’s national security adviser Tom Donilon.

During the dinner which went on for nearly two hours, Obama saw the news through his Blackberry that the Senate passed the FTA, congratulated Lee and clapped with others, according to Lee’s spokesman Park Jeong-ha.

“President Lee attributed the ratification to President Obama’s leadership,” Park said.

Lee and Obama had bulgogi, while Clinton had bibimbap.

Ever since they adopted a “joint vision” for their countries’ alliance in June 2009, Lee and Obama have developed a strong partnership going beyond regional issues to a global level through cooperation for the G20 and nuclear security summits.

Seoul is scheduled to host the second Nuclear Security Summit next year, a meeting of some 50 world leaders initiated by Obama last year to enhance international cooperation to prevent nuclear terrorism.

Obama said in an interview with Dong-A Ilbo that the KORUS FTA will lead to the creation of jobs and economic opportunity for Americans and Koreans by eliminating barriers to the flow of goods, services, investment and intellectual property.

“It is a ‘win’ for both our countries, which will have greater access to each other’s markets, which will in turn mean more jobs on both sides of the Pacific,” Obama was quoted as saying in the article published Thursday.

“It is also a model for the kind of trade agreements we need in the 21st century with strong protections for workers and the environment. The agreement will also deepen the close ties between our two countries, and create an enduring economic pillar to our bilateral partnership.”

By Kim So-hyun, Korea Herald correspondent
(sophie@heraldcorp.com)