U.S. Chamber Welcomes Korean President Roh on First U.S. Visit

U.S. Chamber Welcomes Korean President Roh on First U.S. Visit
Says U.S.-Korea Relationship Strong

WASHINGTON, D.C. - The United States Chamber of Commerce along with the U.S.-Korea Business Council today welcomed Korean President Roh Moo-hyun, who outlined key economic and political developments and measures to improve commercial ties between the two countries.

"President Roh delivered a clear message about his desire for strong U.S.-Korea economic and political relations," said Thomas Donohue, Chamber President and CEO. "Investors are watching developments on the Korean peninsula closely and progress in reducing tensions is in both countries' economic and security interests."

Korea is currently the 6th largest market for U.S. exports and the United States is the top contributor of foreign direct investment in Korea. The Chamber and U.S.-Korea Business Council hope to see the U.S.-Korea Bilateral Investment Treaty concluded at the earliest possible opportunity and have also called for increased flexibility in Korea's labor market, strengthened intellectual property protection, and enhanced regulatory transparency, which would bring benefits across industry sectors.

"We are working hard to promote a more open business environment in Korea, which will not only help U.S. companies, but also help Korea move more quickly toward its own economic goals," Donohue remarked.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organization.

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