Presidential Office on Two-Week Schedule Including Overseas Visits: "A Time to Reflect on Freedom and Solidarity"

Senior Secretary Kim Eun-hye Conveys "Strengthened National Interest and Alliance Confirmed" via Written Briefing
Self-assesses "Increased Likelihood of Addressing Immediate Issues Such as IRA Response, Liquidity Supply, and Extended Deterrence Against North Korea"

On the 16th, one day before President Yoon Suk-yeol's 100th day in office, the Presidential Office building in Yongsan-gu, Seoul is shown. President Yoon, emphasizing the elimination of authoritarianism, moved the seat of government from the former Blue House to Yongsan. With the president's office relocated to Yongsan, the Blue House has been fully opened to the public. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ki-min Lee] On the 2nd, the Presidential Office stated regarding the past two weeks' schedule, including visits to the UK, the US, and Canada, that it was "a time to reaffirm freedom and solidarity, confirming strengthened national interests and alliances."

President Yoon Suk-yeol clearly declared South Korea's diplomatic direction through his visits to New York (UN) and Canada, as well as US Vice President Kamala Harris's visit to Korea, explained Kim Eun-hye, Chief of Public Relations, in a written briefing released to the press on the same day.

Chief Kim added, "We have increased the possibility of resolving pressing issues such as responding to the Inflation Reduction Act (IRA), liquidity supply for financial stability, and extended deterrence against North Korea."

Regarding the UN General Assembly keynote speech, he emphasized that freedom and solidarity were central. Chief Kim said, "South Korea is a country that rose to become one of the world's top 10 economies through the support of the free world, making it the most successful example of freedom and solidarity in the 20th century," and added, "Through the UN speech, it declared that it will now demonstrate its role as a responsible nation protecting freedom for global citizens from poverty, war, human rights violations, and weapons of mass destruction."

He continued, "If freedom and solidarity are the goals of our diplomacy, our experience in achieving these goals is the ROK-US alliance," and stated, "In New York, meetings with US diplomatic and security leaders such as President Joe Biden, former New York Mayor Michael Bloomberg, and former Secretary of State Henry Kissinger reaffirmed the strengthening of the ROK-US alliance, which shares the values of liberal democracy and market economy."

He further explained that during Vice President Harris's visit to Korea on the 29th, where she met President Yoon, concerns about the IRA and the strengthening of the ROK-US alliance were reaffirmed. Chief Kim said, "Considering President Yoon's 'bilateral relations in line with the spirit of the ROK-US FTA,' which was already agreed upon with US President Joe Biden in New York, consultations are underway between the two countries regarding the 'creative solutions' reconfirmed by Vice President Harris," and recalled, "Additionally, a bill to amend the IRA, including a three-year tax credit suspension, has been proposed in the US Senate."

Chief Kim also shared, "Vice President Harris and we shared serious concerns about North Korea's recent ballistic missile launches and the legalization of its nuclear weapons policy," emphasizing, "We reaffirmed the US's firm defense commitment to Korea and evaluated discussions on a comprehensive extended deterrence response package against North Korea. We promised to strengthen the ROK-US combined defense posture and agreed to immediately implement joint response measures in case of serious provocations by North Korea, such as a seventh nuclear test."

Regarding the liquidity supply mechanism, which has become necessary due to high exchange rates, high interest rates, and high inflation, he explained, "It is being established through the May ROK-US summit, US Treasury Secretary Janet Yellen's visit to President Yoon in July, and the meeting between President Yoon and President Biden in September," adding, "It is an issue on which both countries have reached consensus as a measure for a stable financial market."

As an example, he mentioned the phone call on the 20th between Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho and US Treasury Secretary Janet Yellen, saying, "Following the discussions between the two heads of state, we reaffirmed cooperation to implement liquidity supply mechanisms such as currency swaps when necessary to stabilize the financial market, recognizing that Korea maintains solid external soundness."

Regarding global supply chain stability, he said, "Currently, to build a stable and resilient supply chain in advanced industries such as semiconductors and electric vehicles, expanding allied countries for the stable supply of critical minerals is essential," and promised, "We will deepen and develop the 'rediscovery of allies' shown by Canadian Prime Minister Justin Trudeau."

He also mentioned, "President Yoon expressed condolences on the passing of Queen Elizabeth II, a symbol of freedom and democracy, and in response, the UK government expressed gratitude to us through the visit of Foreign Secretary James Spencer Cleverly, pledging not to forget the spirit of solidarity and respect between Korea and the UK."

Furthermore, regarding the successful attraction of a total investment of $1.15 billion (approximately 1.6 trillion KRW) from seven global companies in the advanced industry sector during the recent visits, he emphasized again, "This is the highest amount ever attracted during a presidential visit since 2002," and added, "There were also achievements in sales diplomacy such as the Memorandum of Understanding (MOU) on the formation of the ROK-US Global Venture Fund and four MOUs on critical mineral cooperation between Korean and Canadian companies and institutions."

Chief Kim said, "Diplomacy is more important than ever. For us, diplomacy is like walking on a fence that determines whether we leap forward or fall behind," and concluded, "We will protect the people and national interests for the future of South Korea. Now that the Yoon Suk-yeol administration has completed its diplomatic schedule, it will refocus on the livelihood of the people."