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Vol 5 · Issue 9 · September 2016     
Photo Credit: Jack Baldwin, The Lead South Australia
Message from the Embassy
Ambassador Ahn Ho-young returned from his trip to Missouri where he met with students, government and business leaders of the region. During his lecture at Westminster College, the Ambassador underscored how Churchill's historic "Iron Curtain" speech in Fulton benefitted Korea from falling victim to communist expansion and contributed to the U.S. decision to engage with Korea. Missouri's special ties with Korea have now evolved into an even stronger bilateral economic partnership under the Korea-U.S. Free Trade Agreement (KORUS FTA). Home to America's leading aerospace manufacturing businesses, aerospace products and parts, and motor vehicle parts are the top trade items Missouri trades with Korea. This month's newsletter sheds light on the U.S. manufacturing industry and jobs under the KORUS FTA. 
Ambassador Ahn's Remarks on the Iron Curtain Speech of Winston Churchill at Fulton, Missouri 


Manufacturing Economic Growth through Exports

Global trade powers the U.S manufacturing industry and free trade agreements like the Korea-U.S. Free Trade Agreement (KORUS FTA) deliver a competitive advantage to the more than 300,000 U.S. companies that export their products. U.S. Department of Commerce data reveals that U.S. manufactured goods exports have grown 300 percent since 1990. The impact of free trade agreements cannot be understated as free trade agreement partners comprised 10 percent of the global gross domestic product. In 2015, $634.6 billion in U.S. manufactured goods were exported to FTA partner countries, which created a $12.7 billion trade surplus and accounted for 48.2 percent of all manufacturing exports. These solid numbers for trade with free trade partners shows no signs of abating. In five of the last six years, the share of U.S. goods exports to free trade partners has increased. Read more about the impact of exports on U.S. manufacturing on the Seoul Source Blog.
Fast Facts about U.S. Manufacturing Exports
Recent News
 
Fulton Sun, September 21, 2016

GE Power receives US $800m orders in Asia-Pacific

The Korea Herald, September 20, 2016

The Hill,
September 7, 2016
Upcoming Events
 
Business Council for International Understanding
Luncheon Discussion in DC with His Excellency Ahn Ho-Young, Ambassador of the Republic of Korea to the United States

Tuesday, October 11, 2016
12:00 pm - 2:00 pm

More information available here.
The U.S.-Korea Free Trade Agreement (KORUS FTA) is an international partnership designed to promote the free flow of products and services between the United States and Korea. This economic relationship spurs business growth, creates jobs, generates new markets for U.S. goods and services, and strengthens an important strategic alliance. 
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