Ministry of Foreign Affairs of the Republic of Korea

11/29/2023 | Press release | Distributed by Public on 11/28/2023 23:16

Minister of Foreign Affairs Park Jin Attends Special Luncheon on Korea-U.S. Economic Partnership

1. On Tuesday, November 28, 2023, Minister of Foreign Affairs Park Jin attended the "Special Luncheon on Korea-U.S. Economic Partnership," jointly organized by the Ministry of Foreign Affairs, the American Chamber of Commerce in Korea, and the U.S. Embassy in Korea. The event, attended by over 100 participants including Korean and American business leaders as well as members of the diplomatic corps in Korea, took the form of a dialogue between Minister Park and Ambassador Goldberg, focusing on the theme of "Enhancing Economic Partnership between Korea and the U.S. in Commemoration of the 70th Anniversary of the Alliance and the Establishment of the American Chamber of Commerce in Korea."

2. In his keynote speech, Minister Park extended his congratulations on the convening of this luncheon at the conclusion of the year that witnessed a significant leap forward in the ROK-U.S. alliance on the occasion of its 70th anniversary. He noted that the bilateral relationship is closer and more dynamic than ever, as evidenced by the four visits of the Korean President to the U.S. in a single year. Minister Park also emphasized that the cooperation between the two countries goes beyond trade and investment, constituting a robust economic and technological alliance that extends to space. He highlighted the increasing two-way investments in high-tech industries such as electric vehicles, batteries, and semiconductors. Minister Park also highly appreciated the ongoing communication and efforts between the two governments in addressing issues such as the U.S. Inflation Reduction Act (IRA) based on mutual trust and reciprocity.

3. Following the keynote speech, Minister Park and Ambassador Goldberg exchanged views on the 70th anniversary of the ROK-U.S. Alliance, ROK-U.S.-Japan trilateral cooperation, the Indo-Pacific Economic Framework for Prosperity (IPEF), and cooperation on climate change response. Minister Park characterized the ROK-U.S. Alliance as the most successful foreign policy in Korean history, highlighting the renewed leap in bilateral relations through events such as the President's state visit in April. He stressed the importance of the trilateral cooperation between the ROK, U.S. and Japan in addressing unprecedented polycrises, expressing confidence in the enduring spirit of Camp David. Minister Park also commended the progress made in the IPEF negotiations within just a year and a half, attributing it to U.S. leadership and active Korean participation. Additionally, he expressed expectations for continued cooperation between the two countries on climate change response and sustainable growth, including the Carbon Free Alliance. Concerning the imminent decision on the host city of the 2030 World Expo, Minister Park called for full U.S. support for the Busan World Expo which will be an expo of solidarity that shares Korea's development experiences and visions for the future.