Fellow Koreans, business leaders and workers as well as distinguished guests joining us here today,

Good evening,

On December 5, we finally ushered in the era of US$1 trillion in trade.

Following such countries as the United States, Germany, China and Japan, Korea has now become the ninth country to do so. It is a remarkable feat that Korea achieved in the six decades following the founding of the nation.

We have quickly emerged as a global trading powerhouse setting a major milestone in the history of the Korean economy and world trade.

It is truly overwhelming. I am deeply grateful to all the Korean people who have carved out the Republic of Korea of today with their sweat and tears.

Fellow citizens,

The $1 trillion mark in trade is a historic accomplishment that all Koreans achieved with one heart and one mind.

It is all the more meaningful because we pulled off this achievement amidst shrinking world trade caused by the global economic crisis.

What makes us even more proud is the fact that we struck a balance in trade with $500 billion in exports and $500 billion in imports.

Illustrating an exemplary case around the world, the Republic of Korea has now become a country that contributes to global economic progress as well.

Korea will continue to stay on a path toward an open trading powerhouse.

This also constitutes the strong, sustainable and balanced way toward prosperity for all that the world is envisioning.

We should march together toward a world where everyone can become better off. Only then will global efforts toward free trade be further strengthened.

The Republic of Korea will take the lead on that path.

Fellow Koreans,

In 1893, Korea participated in a world fair for the first time in its history. The only exhibits on display in the Korean pavilion at the Chicago World’s Fair were traditional costumes, folding screens, bows and arrows.

Korea was once the most impoverished country in the world. It was turned into ashes as a result of colonial rule and war, and we had no resources, technology, knowhow or capital whatsoever.

Paving the roads and building factories from scratch, we took on challenges over and over again with a single conviction: “We can do it.”

Turning the impossible into the possible, we have written new chapters of miracles in history

Now, Korean-made semiconductors, automobiles and cutting-edge IT products can be found in almost every nook and cranny around the world.

At this overwhelming moment today, what comes to my mind is the image of our mothers and sisters who had to cut and sell their hair in a time of severe poverty.

The wigs made from their hair and the clothing that young female factory workers produced late into the night at their sewing machines served as the seeds for nation building through trade and helped shape today’s Republic of Korea.

Seong Jeong-sun, 53, who has been a textile worker since she was young, said “At that time, we thought that was the only way for us and for our country to survive.”

She worked two shifts, 12 hours a day and sent all her wages to her home in the countryside. Thanks to that money, all of her five younger siblings were able to complete their education and even get married.

Our fathers who went to construction sites in the Middle East labored hard sweating in the searing desert.

Looking back, Lee Cheol-hwa, 76, who was a construction site manager in Iran in the 1970s, said “I was only grateful for being able to work.”

It is truly amazing that they yearned for a brighter future for the nation while working day and night under difficult conditions.

Nurses and miners who were dispatched to Germany as well as workers who sweated in deserts in the Middle East—they all must have been wishing for a prosperous future for the country while they worked.

Such a spirit has been handed down to each generation of workers until now, which finally helped the nation attain the monumental achievement of topping the $1 trillion mark in trade.

In pulling off such a feat, many technical experts played a significant part by devoting their lives to technological development on industrial sites.

Many scientists who buried themselves in research burning the midnight oil and public officials who worked even on weekends are also an integral part of this splendid achievement.

Thanks to the family members’ dedicated support and love, we all could crisscross the world as the main pillars of our nation’s industry and exports.

In celebrating the feat today, we cannot forget many professionals from other nations who passed on advanced technologies and know-how to Korea, which was no more than an industrial wasteland at that time.

In the 1970s, William John Duncan of the United Kingdom came to Korea to consult with a Korean shipbuilding company. He is the one who helped lay a solid foundation for shipbuilding in the country.

When POSCO was first launched, Toshihiko Ariga, an auditor of Nippon Steel, came to Korea and provided technology for the construction of a steel mill and managerial skills.

Together with big conglomerates, many small and medium-sized enterprises that squarely competed in the international arena with unmatched technical prowess served as stepping stones in reaching the $1 trillion mark in trade.

One enterprise conquered the world’s markets for helmets, and another company emerged as a leading global mobile computer manufacturer on the strength of its technological competiveness.

Now, many countries in the world see the Republic of Korea in a different light. Samsung, Hyundai and LG have now become familiar names with many people across the globe.

The G20 Seoul Summit and Hallyu, which is now sweeping the world, have contributed to significantly boosting the brand value of Korea.

Korea Discount has given way to Korea Premium. “Made in Korea” is no longer a weak point, but a strong point.

With indomitable spirit to take on new challenges, all Koreans have helped to write a new chapter in the history of the Republic of Korea. Up until now, in each position assigned, you all have lived your lives to the full and worked very hard.

I am truly grateful for that.

Your sweat and tears will be remembered forever in the history of the Republic of Korea.

Fellow Koreans,

The reality we face today is not easy to deal with, however.

Global economic difficulties do not seem to be temporary, but tend to signal the beginning of an age of continuing uncertainty and contracting economic growth.

This is a great threat to Korea that is heavily dependent on international trade.

But, we have never succumbed to any crisis but used it as an opportunity to take a leap.

As we accomplished the goal of $1 trillion in international trade, we certainly can and will go on to open the age of $2 trillion by 2020.

In order to do that, we have to emulate Germany and Japan and other trading leaders that have nurtured many small but strong SMEs.

Korea does have a number of hidden champions that have ventured into niche markets, developed high value-added new technology products and made inroads into the global market.

In fact, representatives of many such companies are present here today.

The Government’s World Class 300 Project aims at fostering 300 such SMEs by 2020.

At the same time, I urge big businesses to develop overseas markets jointly with SMEs.

Korea also needs to find new engines for exports in the field of culture, arts, agriculture and the service industries, among other sectors.

The Korean Wave is reaching out to global audience, going beyond Asia.

The farmers in Gimje, North Jeolla Province, have been growing bell peppers using thorough quality control and have succeeded in exporting them to Japan. They herald the age of $30 billion in the export of agricultural products by 2020.

We have to aggressively enter into the US and EU markets taking advantage of the bilateral FTAs. We should also go into Southeast Asia and Africa as well as Central and South American markets that are leading the global economic growth today.

Entrepreneurs and workers, citizens in arts and cultural fields, farmers, young people and fellow citizens,

The protagonists in the dramatic achievement of $1 trillion in trade are none other than all the citizens of the Republic of Korea.

International trade has made Korea what it is today. Trade has been the engine of the country’s economic miracle as well as the source of jobs and daily meals.

Trade served as the crucial force that enabled us to rise again whenever we encountered an economic crisis.

Now is the time to renew ourselves as we start toward the age of $2 trillion in trade.

The stars of this movement are the young G20 generation. Our young people are already venturing onto the global stage without any reservation.

Figure skater Kim Yu-na amazed the world. K-pop singers are attracting enthusiastic crowds of young people around the world. The nation’s technologists grabbed the WorldSkills championship as many as 17 times. The talented young scientists are pioneering uncharted territory.

I am fully confident in the future of the country that will be carved out by our young men and women.

I am truly proud of being Korean.

Let us all march together toward the five oceans and six continents.

Let us make the Republic of Korea a great, open trading nation where everyone can lead a decent life.

Thank you very much.