1.     The Korean government will be dispatching Jeong Chan-yong, Senior Secretary to the President for 
Personnel Affairs, to the presidential inauguration ceremony which will be held in the Republic of Panama 
on September 1, 2004.

2.     Mr. Jeong will participate in the inauguration ceremony to congratulate the new President of the 
Republic of Panama, Mr. Martin Torrijos Espino, and deliver a letter from President Roh Moo-hyun which 
expresses the desire to further develop friendly and cooperative relations between the two countries. Mr. 
Cheong will also hold discussions with President Torrijos and other leading figures of the Panamanian 
government on how to enhance bilateral relations.

3.     Panama is one of the ROK's three largest export markets in Latin America and the Caribbean.  The 
volume of ROK exports to Panama recorded $12.5 billion in 2003.

4.     Mr. Jeong will also visit Ecuador on his way to Panama, and will hold talks with President Gutierrez and 
high-level government officials.

                                                                  Spokesperson of MOFAT

* unofficial translation