By Jung Sung-ki
Staff Reporter
President Lee Myung-bak said that he supported U.S. President-elect Barack Obama's proposal to help the struggling U.S. auto industry, saying reviving it would help South Korean exporters.
The remarks made by Lee in Washington, D.C. Sunday were construed as his intention to soothe concerns by auto labor unions there that signing a free trade agreement with South Korea (KORUS FTA) would victimize American carmakers.
Obama is also reportedly negative about the FTA, which has yet to be ratified by both legislatures in Seoul and Washington, citing an imbalance in auto trade between the two countries.
``Reviving the U.S. auto industry will be beneficial to South Korea too,'' the President told reporters. ``That will allow South Korea room for exports of automobiles and related parts.''
In Washington, Lee attended the first economic summit of the world's 20 biggest economies. The G-20 meeting dealt with global cooperation to resolve the ongoing financial crisis.
Lee said his government would make efforts for the early ratification of the landmark trade deal by the National Assembly, expressing hope that the U.S. Congress would approve it as soon as possible too.
Later in the day, Lee met with Thomas J. Donohue, president of the U.S. Chamber of Commerce, to discuss ways of resolving the global financial crisis as well as the KORUS FTA ratification.
``We need to ratify the FTA at an early date to develop bilateral trade and investment and strategic economic cooperation,'' Lee was quoted by an aide as saying.
The President also called for more U.S. direct investment in South Korea, introducing his government's policy to reduce corporate taxes, regulations and promote labor flexibility.
In response, Donohue reiterated U.S. businesses' firm support for the trade pact and pledged efforts to persuade Congressmen to ratify the deal upon the inauguration of the Obama administration in January, according to the aide.
Donohue made it clear that he opposed any move toward protectionism, he said.
Meanwhile, Lee reaffirmed his support for a possible meeting between Obama and North Korean Kim Jong-il to seek a breakthrough in the denuclearization of the North.
He also dismissed concerns that the meeting would further sour inter-Korean ties and alienate Seoul in international talks on the North Korea nuclear issue.
Lee said when he spoke with Obama over the phone days after the U.S. presidential election, the President-elect promised to consult with South Korea before taking any major action on North Korea.
``We have a perfect relationship with the United States so you don't have to worry about it,'' he said.
Liberal-minded Obama's victory has triggered speculation here that Lee would have some difficulty cooperating with the new U.S. government on some issues, such as North Korean affairs.
During the campaign, Obama of the Democratic Party said he would meet without preconditions during his four-year term with leaders of several countries whose governments have been at odds with the United States, including North Korea.