1. Korea and the U.S. will be signing a Memorandum of Understanding (MOU) on Korea’s joining of the Visa 
Waiver Program (VWP) during President Lee Myung-bak’s visit to the U.S. in mid-April.

2. With the signing of the MOU, the possibilities for Korea’s entry to the VWP grew higher. The MOFAT will 
exert efforts for Korea to join the VWP by the end of this year, by signing the Implementing Arrangement on 
the VWP by August 2008 and expanding the issuance of the electronic passports to the whole Korean public 
by September 2008. The U.S. side is expected to establish relevant security system by September 2008, 
such as Electronic System of Travel Authorization and Exit-Controls, and complete the final evaluation on 
Korea’s entry to the VWP by November 2008 by sending its assessment team to Korea. 

3. When Korea joins the VWP, it is expected that there will be following effects in various areas including 
economy, society and foreign affairs: saving the cost for the Koreans to get the U.S. visa issued, of which 
estimates are minimum 100 billion won (about US$ 102,700,000); bringing greater convenience to the 
Koreans traveling to the U.S. ; expanding the range of business activities by promoting people-to-people 
exchanges between Korea and the U.S. and creating new jobs ; and upgrading the Korea-U.S. bilateral ties 
to a substantial partnership.

                                                                      Spokesperson of MOFAT

* unofficial translation