Remembering the Korean War and the U.S.-Korea Free Trade Agreement

REMEMBERING THE KOREAN WAR AND THE U.S.-KOREA FREE TRADE AGREEMENT -- (Extensions of Remarks - June 25, 2008)

SPEECH OF
HON. VITO FOSSELLA
OF NEW YORK
IN THE HOUSE OF REPRESENTATIVES
WEDNESDAY, JUNE 25, 2008

* Mr. FOSSELLA. Madam Speaker. Today marked the 58th anniversary of the outbreak of the Korean War. Five years after the Second World War ended in the Pacific, a new conflict erupted, the first major engagement of the forces of communism and the forces of freedom in the Cold War period.

* By the time the armistice was signed almost 3 years later, millions of Koreans had been killed, wounded or displaced from their homes, whole towns and villages had been destroyed, and the entire peninsula was plunged into poverty. More than 36,000 American soldiers, sailors, Marines, and airmen who served in the Korean War lost their lives.

* It has been my privilege to represent hundreds of Korean War veterans who live in my district in Brooklyn and Staten Island. I have come to know personally many of these brave and heroic constituents.

* Although many of these Korean War veterans are reaching old age, they live vibrant lives, contributing to our community in countless ways. The sacrifices they made across an ocean helped form their characters, which guided them through college and careers, as they raised their families and built their businesses, indeed, as many of them became political and community leaders themselves.

* In the years since the Korean War came to a close, South Korean soldiers have fought alongside Americans not only in Korea but in Vietnam, Afghanistan, and Iraq. In fact, South Korea sent the third-largest contingent of armed forces to Iraq among all the countries that have participated in that conflict.

* Korea has often been described as an ``economic miracle.'' Fifty years ago, South Korea was an impoverished, Third World country perceived as having few prospects for survival, much less potential for affluence. Today it has the world's 11th-largest economy, known for its high-technology industries. It is the 7th-largest trading partner of the United States.

* It is no wonder, therefore, that almost exactly a year ago, on June 30, 2007, negotiators for the United States and the Republic of Korea concluded a Free Trade Agreement that now awaits approval by Congress and the South Korean National Assembly before it is fully implemented.

* In a recent report, the U.S. International Trade Commission has forecast that the elimination of tariffs on U.S. goods under the U.S.-Korea Free Trade Agreement would increase the Gross Domestic Product (GDP) of the United States by over $10 billion annually. The agreement will also eliminate regulatory and other non-tariff barriers that have historically restricted access by American farmers, manufacturers, and service providers to the South Korean market.

* In the past week, the United States and South Korea signed a protocol regarding the importation of U.S.-originating beef to Korean markets. As anyone who reads the newspaper knows, this issue has been politically volatile in South Korea. U.S. and South Korean trade negotiators deserve a great deal of credit for their delicate handling of this situation. It is my understanding that American beef exports to Korea will recommence within the next few days.

* While the beef import issue seemed to be an obstacle to approval of the Free Trade Agreement, the overall advantages to both our countries that will ensue from the agreement have prevailed. And this is a good thing, a healthy thing for American workers and American consumers, and for Koreans, too.

* With growing uncertainty about the health of our economy, it is critically important that we make every effort to spur U.S. economic growth and create new American jobs through securing access to markets in which U.S. farmers and businesses can compete and succeed. The proposed U.S.-Korea Free Trade Agreement stands to further increase U.S. exports to Korea and will generate new jobs for Americans.

* Madam Speaker, it has been nearly six decades since the outbreak of the Korean War and we must ``never forget'' the sacrifices of our Korean War veterans. As we commemorate this somber occasion, let us look forward to the opportunities the future will bring as the U.S.-Korean friendship and economic partnership is broadened, deepened, and strengthened. The U.S.-Korea relationship deserves to be celebrated, and I ask my colleagues to join in offering their own expressions of support.

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