Speech by President Lee Myung-bak of the Republic of Korea at the Gala Dinner of the U.S.-Korea Business Council
President Thomas Donohue,
Chairman William Rhodes,
Distinguished guests,
Ladies and gentlemen,
Thank you for your warm welcome.
It gives me great pleasure to be here with the leaders of the corporate America. Having once been a businessman myself, I know how challenging but also exciting and rewarding your role of entrepreneurship is in this world of globalization and IT revolution.
As a former businessman, but more importantly, as the President of a major trading nation, I salute you for the leadership that you take in pioneering new frontiers of economic growth, technological innovation, and corporate social responsibility.
I do not need to remind you of the importance of the United States Chamber of Commerce in not only global business but also the progress of history.
The business community has been one of the prime driving forces of progress for centuries, exploring novel ideas, fostering creativity, developing new talents and inculcating society with the bold and adventurous spirit of entrepreneurship. The business community has also engaged in philanthropy and social justice with a great spirit of corporate social responsibility.
As President, I will make every effort to help the business community to do what it is best fit to do: innovation, change, risk taking, and the creation of wealth for all nations and all peoples. In this personal journey to construct an open society based on the market, I have an invaluable partner: the United States and its dynamic business community.
Ladies and gentlemen,
This is not just my personal journey; it is the journey of Korea and its people, too. Until now our eyes focused on how to transform Korea into a modern industrial economy. Now we are reaching out to the world to share responsibilities and attain common goals.
Korea will evolve into a leading global player, assuming loftier goals and championing liberal values. This vision of reaching out to the world will be paralleled by domestic reform, too.
The new Korea will be a Global Korea, where talent is valued, the global standards are respected, and entrepreneurship flourishes. Global Korea will be a place where all enjoy the equality of opportunity and where the less fortunate are protected and empowered.
This requires not only institutional reform, but also cultural change and cognitive transformation. There shall develop the "open mind" capable of exploring new ideas, fostering creativity, and developing new talent. In today''s globalized economy, we will have a reliable partner, the United States business community, in mapping out our journey of progress.
Ladies and gentlemen,
As a strategic partner in the business world, Korea offers a multitude of advantages. Korea has a strong manufacturing base, a state-of-the-art IT infrastructure, a skilled workforce, and a geopolitically strategic location as a gateway to emerging markets in East Asia.
Already, many of your fellow American business leaders, from GM Daewoo to Citibank, have entered Korea in a big way, becoming an integral part of the Korean economy. Others like Prologis have recently decided to become a partner of Korea. We welcome their decision and hope that many more will follow.
There is a new kind of competitive edge on the rise in Korea that will make it an even more attractive site of investment: my government with the vision of Global Korea.
I am aware of your concerns. I know of your interests and passion. I share your vision of progress. The Lee Myung-bak government will work to establish a business-friendly environment. Rules and regulations that are not in line with global standards will be reformed and tax laws will be revised.
The financial industry will also undergo dramatic changes, with the goal of becoming a financial hub of East Asia. FTAs will be launched and ratified. The educational and medical system will be overhauled to provide quality education and healthcare to the foreign business community living in Korea.
The improvement of current labor relations is another policy priority area. I am very pleased to report to you that president of the Federation of Korean Trade Unions (FKTU), the largest labor federation in Korea, announced to support my call for constructive labor relations. FKTU President Jang Seok-chun is with us tonight to show in person the tides of change.
I am also determined to reach out to the business community. Upon my inauguration, I opened a personal hotline for business leaders to reach me directly. When I return home, I will do the same for foreign business leaders in Korea. I will listen to you and discuss with you about ways to improve the business environment.
Ladies and gentlemen,
Over the past fifty years, the Korea-United States alliance has served as the bedrock of peace and the guardian of freedom on the Korean peninsula. A total of 37,000 Americans gave their life in defending my country during the Korean War.
Today, 28,500 GIs stand side by side with my armed forces to deter war on the Korean peninsula and maintain stability in East Asia. I have never forgotten what the United States has done for Korea.
After the half century of military alliance, the two countries are ready to go beyond and develop our relationship into a comprehensive partnership on the basis of shared interests and common values. The new partnership should be aiming for deepening and widening cooperation in a wide range of issues, including global issues.
The ratification of theKorea-US Free Trade Agreement (KORUS FTA) constitutes an essential part of this transnational community building. The KORUS FTA signed in June 2007 is awaiting approval by our respective legislative bodies. The KORUS FTA will provide the United States business with an opportunity to establish a strong gateway to the East Asian markets, as well as share in the prosperity of Korea.
Moreover, the KORUS FTA is not a mere vehicle for mutualeconomic gains. The KORUS FTA will usher in a new era in our bilateral security relations, anchoring the military alliance on a firm social and economic basis. The KORUS FTA will bring our partnership to a new height, giving the alliance a wide, firm, deep support base in each of our two societies.
Korea and the United States have already become one integral network of people. Today,hundreds of thousands of young Koreans are studying in the United States. Many of the two million Korean-Americans are now leaders in their respective communities.
We should not be satisfied with this. On the contrary, we should encourage even more people-to-people exchange. The Visa Waiver Program (VWP) will be a catalyst in deepening and widening people-to-people exchange. I hope you will give your strong support to the launching of VWP for Korea. As more Koreans visit the United States, we will each have a better understanding of each other.
Ladies and gentlemen,
To me, life was a struggle. Born in a poor family, I attended night school because I had to work during the day. As a teenager, I was a street vendor, a trash collector, and a manual worker. Work was then not a choice it was a matter of survival.
Nonetheless, I was never ashamed of doing manual work. On the contrary, I was grateful that I had a job. Forty or some years have passed by, but I still cherish the value of hard work. Failure only strengthens my resolve and challenge only excites me. I consider it my destiny to work hard for my country, my people, and myself. I never lose faith and I never give up.
Now, the Korean people have put their faith in me. With humility, I carry their hope and their dream as mine. As I set out on this new journey of progress, I ask you to join me, as my friend and partner.
Some say we are plunging into an era of global economic instability. I say crisis is a time of opportunity. It is also during trying times that true friendship shines. Harboring doubt is for those who will trail behind. Let us move forward with hope and determination.
As Franklin D. Roosevelt said, the only limit to our realization of tomorrow will be our doubts of today. Let us move for ward with strong and active faith. Indeed, let us move forward together.
Thank you.
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