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Foreign Policy Analysis
President Park highlights new markets through economic diplomacy

President Park highlights new markets through economic diplomacy

Senior government officials and the heads
of Korea’s biggest business groups gathered at a forum in Seoul to share the results of
President Park Geun-hye’s recent trips to Mexico and Iran.
President Park said the lucrative agreements must function as momentum… to boost Korea’s
economic growth… and she suggested ways of fostering new growth engines.
Our Song Ji-sun has a recap of the president’s message.
29 MOUs with Mexico and 66 with Iran. That’s how many agreements were signed during
President Park Geun-hye’s recent summits with the two countries.
President Park, speaking at a forum held Wednesday to share the results of her recent overseas
trips, encouraged business leaders to explore the new markets now open to them. “Our efforts to break into new markets must
be further strengthened. As the old teaching goes, a path is made by
walking on it.” Going forward, the government will check on
the status of the MOUs… to make sure they are fulfilled.
President Park also made note of the free trade deals Korea has with the world’s major
economies,… saying that they, too, can boost exports,… which when coupled with Korea’s
brand value,… can appeal to Hallyu or Korean Wave fans.
The business leaders in attendance asked for more chances to meet with local buyers in
new markets. In line with her creative economy drive, President
Park also encouraged entrepreneurs to venture into markets both at home and abroad… using
innovative ideas that can appeal to consumers beyond borders. “If we develop outstanding products from new
ideas, products and services that cannot be matched by other competitors, then I believe
we could market the products so that they become very popular domestically and internationally.” “The Korean leader also called on smaller
companies and start-ups to actively participate in overseas business opportunities,… while
emphasizing the potential of new export items in the smart city, e-commerce and energy-related
sectors. Song Ji-sun, Arirang News.”

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