1. Minister of Foreign Affairs and Trade Yu Myung-hwan met with the President of the U.S. Chamber of 
Commerce Thomas Donohue on March 26 and exchanged views on the promotion of the ratification of 
Korea-US FTA, Korea’s participation in the US Visa Waiver Program and bilateral cooperation in the field of 
energy.

2. Minister Yu asked the U.S. business circle for their active support in the early ratification of the Korea-U.S. 
FTA. In response, President Donohue said that he agreed on the view that the Korea-U.S. FTA will greatly 
benefit the bilateral economic relations and expressed his support in the bilateral trade agreement. 
President Donohue also noted that for the FTA to get ratified, the problems surrounding the import of 
the U.S. beef to Korea need to be resolved.

3. Minister Yu also requested the U.S. businesses to actively support in expediting Korea’s participation in 
the U.S. Visa Waiver Program, and President Donohue replied by saying he will make extra efforts to gain 
support from the U.S. economic circle.

4. In addition, Minister Yu stressed that concerted efforts are required to deal with the surge in the 
international price of oil and raw materials. He also expressed his expectations on strengthening 
cooperation between the private sectors of the two countries in the area of energy. Moreover, he requested 
supports for Daegu’s bid to host the 22nd Executive Assembly of the World Energy Council in 2013. 

                                                              Spokesperson of MOFAT

* unofficial translation