Minister: KORUS FTA Contributes to Diplomacy, Security

Write : 2017-10-12 18:22:05 Update : 2017-10-12 18:25:58

Minister: KORUS FTA Contributes to Diplomacy, Security

Finance Minister Kim Dong-yeon has stressed the South Korea-U.S. free trade agreement(FTA) contributes not only to the economy but also to a stronger bilateral alliance. 

On Thursday, the minister met with Adam Posen, president of the U.S. Peterson Institute for International Economics, during his visit to Washington to attend the annual meetings of the World Bank Group and the International Monetary Fund.

Regarding the renegotiation of the Korea-U.S. trade deal, the Peterson Institute said there may be challenges but expressed hope for progress based on the fundamental principle of trade of mutual reciprocity.

Posen said Korea's macroeconomic fundamentals are strong enough to respond to overseas risks. 

Minister Kim said that in view of South Korea's solid fundamentals, the impact of North Korea-related risks is limited. He said the Seoul government was responding actively to induce change in North Korea's attitude, including through its firm alliance with the United States. 

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