March 1995 No. 1
News Focus
Min. Park Emphasizes Evolving Korea-U.S. Partnership
In the United States, Park met with U.S. Trade Representative Mickey Kantor, Secretary of Commerce Ron Brown, Undersecretary of Commerce for Economic & Agricultural Affairs Joan Spero, and Deputy Assistant to the President for Economic Policy Bowman Cutter.
Korea and the United States also agreed to make joint efforts to expand bilateral industrial cooperation. Private-level bilateral consultative committees in nine individual sectors are to be formed and activated as soon as possible. The two sides also agreed to hold a private-sector committee meeting to discuss deepening industrial cooperation. In addition, the government-level Korea and U.S. Industrial Technology Cooperative Committee will be established. These issues will be examined again when Brown visits Korea.
On the basis of the balance in bilateral trade, Korea now expects a smooth trade relationship with the United States. Korea and the United States agreed to establish a close consultative channel between trade and commerce ministers to take pre-emptive action against any potential dispute. It is the Korean government's position, explained Park, to settle bilateral trade disputes through constructive dialogue.
NE Asia Undersea Fiber-Optic Cable Opened
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