WASHINGTON _ South Korea proposed Tuesday a senior-level bilateral consultation with the U.S. to enhance cooperation in technology, in addition to the multi-million U.S. dollars already allotted for such a program.
Kim Young-ju, South Korean minister for commerce, industry and energy, said his U.S. counterpart, Commerce Secretary Carlos Gutierrez, responded positively to the proposal.
"He suggested that we have further discussions on the details," Kim told reporters.
Kim arrived in the U.S. on Monday on a five-day trip taking him to Washington, New York and San Francisco. His focus is on promoting U.S. ratification of a bilateral free trade agreement (FTA) and discussing follow-up projects such as the proposed technological cooperation. He also hopes to boost foreign investment in South Korea.
South Korea and the U.S. signed the FTA in June and are awaiting legislative approval. Seoul already submitted the deal to the National Assembly in September, while Washington is expected to present it to the Congress sometime in the spring.
Kim explained that South Korea already set aside 6 billion won (about $6.5 million) in next year's budget for the "KORUS Tech" program, a project he emphasized in his speech to a business forum.
"The FTA's main selling point is the tremendous economic benefits from trade and investment," the minister said.
"On top of this, the deal will be a catalyst for the robust exchange of people, ideas and technology," said Kim. "We are already seeing promising advances in technology cooperation."
"An FTA with us means you would gain a strategic platform into the region. It would be a severe blow to both our countries if we were to miss this golden opportunity."
Officials here see a hard battle ahead in getting the Congress to nod, given majority-wielding Democrats' demands to amend the auto sector agreement and criticism against South Korea's restricted market to U.S. beef.
"It is clear that the beef issue is an important element to U.S. ratification of the FTA," Kim said, characterizing his meetingswith officials in Washington.
South Korea last year partially lifted a U.S. beef import ban imposed after a case of mad cow disease at an American cattle farm. But it suspended imports after repeated discoveries of bone-in meat in violation of an agreement that Seoul would buy only boneless parts.
(Yonhap)