Presidential Office Criticizes Opposition, Self-assesses "President Yoon's Overseas Visits Resolve Issues with US, Japan, etc."

Press Release on Key Achievements of UK, US, and Canada Tour
High Evaluation of Major Outcomes Including Diplomatic Investment Attraction Amid Opposition Criticism

[Asia Economy Reporter Yoo In-ho] The Presidential Office evaluated that President Yoon Seok-yeol's tour of the United Kingdom, the United States, and Canada from the 18th to the 24th successfully communicated a foreign policy centered on ‘freedom and solidarity’ to the international community and resolved key issues with the United States, Japan, and Canada.

[Image source=Yonhap News]

The Presidential Office stated this in a press reference material titled ‘Key Achievements of the UK, US, and Canada Tour’ released on the 25th, the day after President Yoon’s return.

The tour’s achievements were introduced in five categories: ▲ imprinting the core foreign policy principle of ‘strengthening international solidarity for freedom’ ▲ resolving key issues and fostering trust through consultations with the leaders of the US, Japan, and Germany ▲ full-scale ‘sales diplomacy’ and attracting investments in advanced industries and startups ▲ strengthening supply chains for critical minerals and semiconductors in advanced industries ▲ and establishing a cooperative foundation for science, technology, and future growth industries.

Regarding the theory of freedom and solidarity, it was noted that through the keynote speech at the 77th United Nations General Assembly held in New York, President Yoon proposed freedom and solidarity as solutions to transitional international issues and expressed Korea’s active willingness to contribute to resolving major international problems.

Concerning the first schedule, paying respects to Queen Elizabeth II of the United Kingdom, it was explained, “By attending the state funeral and having talks with King Charles III and a meeting with Prime Minister Liz Truss, the determination to strengthen solidarity with the free world was reaffirmed,” and “the UK side expressed gratitude several times for President Yoon’s attendance at the state funeral.”

This is interpreted as a counter-opinion against the opposition parties’ continued criticism of ‘canceling the condolence visit’ citing the failure of the memorial schedule.

Regarding the summit with Canada, the last country visited, a high evaluation was given. “The relationship was elevated to a ‘comprehensive strategic partnership,’ marking a milestone in bilateral relations,” and “the Canadian side provided the highest honors, including a friendly luncheon and talks with the Governor General,” it emphasized.

Particularly, it highlighted that the countries visited were the three major participants in the Korean War, emphasizing that the solidarity and cooperation foundation with these key allies was further strengthened.

The Presidential Office introduced the three meetings with US President Joe Biden during this tour as ‘Korea-US summits,’ stating, “We confirmed the willingness for cooperation at the presidential level regarding the US Inflation Reduction Act (IRA), financial stabilization cooperation (including liquidity supply facilities), and extended deterrence related to North Korea.”

There was also a positive self-assessment regarding the Korea-Japan summit. “After 2 years and 9 months, a summit was held with Japan, creating a turning point for improving relations,” and “both Korea and Japan agreed to accelerate consultations between diplomatic authorities and maintain continuous communication at the presidential level.”

The achievements of the Korea-Germany summit included agreements to expand economic security cooperation such as supply chains and to strengthen cooperation on regional and global issues including the Korean Peninsula and Ukraine.

The Presidential Office also emphasized ‘sales diplomacy.’ It attracted a total investment of $1.15 billion (approximately 1.6 trillion KRW) from seven global companies, highlighting that “this is the largest amount of new investment attracted during a presidential tour since 2002.”

It also stressed the agreement on cooperation to implement liquidity supply facilities for financial stability between Korea and the US. Regarding strengthening supply chains for critical minerals and semiconductors, it cited attracting investment from AMAT, the world’s number one semiconductor equipment company, as a top achievement. “We have completed the supply chain of the global Big 4 semiconductor equipment companies within Korea,” it explained.

The Presidential Office stated that AMAT had already signed an investment agreement last June, seemingly addressing criticism from an opposition party accusing the administration of exaggerating achievements, by explaining, “AMAT signed a memorandum of understanding (MOU) on investment intentions with the Ministry of Industry and Gyeonggi Province in July, and this tour resulted in actual investment declarations.”