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Korea, U.K. to strengthen cooperation in economy, culture

President Park Geun-hye held summit talks with Prime Minister David Cameron of the United Kingdom on November 6 in London to discuss measures to extend Korea-U.K. cooperation.

The two leaders said that President Park’s U.K. state visit holds great significance as this year marks the 130th anniversary of establishing Korea-U.K. diplomatic relations and is the 60th anniversary of the armistice ending the Korean War (1950-1953). They also discussed ways to strengthen bilateral cooperation and exchanged opinions on a wide range of issues, including how to cooperate on joint responses to regional and global issues.

The two leaders reaffirmed that both countries are good partners for shared growth as each of them push forward to realize their visions for the creative industries and cultural enrichment. They also agreed that the two countries have developed a comprehensive, creative partnership by extending the level of bilateral cooperation to a regional and global level.

President Park Geun-hye (left) and Prime Minister David Cameron of the United Kingdom pose for photos on November 6 in London. (Photo: Cheong Wa Dae)

President Park Geun-hye (left) and Prime Minister David Cameron of the United Kingdom pose for photos on November 6 in London. (Photo: Cheong Wa Dae)


President Park Geun-hye (left) and Prime Minister David Cameron of the United Kingdom hold summit talks on November 6 in London. (Photo: Cheong Wa Dae)

President Park Geun-hye (left) and Prime Minister David Cameron of the United Kingdom hold summit talks on November 6 in London. (Photo: Cheong Wa Dae)


After the Korea-U.K. summit, they adopted the Republic of Korea-United Kingdom Joint Statement to show their shared vision and will to strengthen bilateral cooperation. In the joint statement, the two leaders reconfirmed the broad and creative partnership for peace and prosperity, and agreed to raise the ROK-UK Strategic Dialogue to a ministerial level dialogue. This, they said, would further strengthen cooperation and allow them to address key global issues and cooperate in the creative industries, including culture, IT, science and technology, and to cooperate in the economic and financial sectors. The statement also contains London’s support for Seoul’s stance on Pyongyang, including the denuclearization of North Korea, the Korean Peninsula trust-building process and the Northeast Asian peace visions, and Korea-U.K. cooperation on global issues including climate change, human rights, the international economy, cyber security and development.

Korea, U.K. to boost economic cooperation

Both leaders positively valued the contribution the Korea-EU FTA has made to the amount of trade and investment between Korea and the United Kingdom. They agreed to double both the volume of bilateral trade and the volume of bilateral foreign direct investment by 2020. To achieve this goal, they agreed to carry out joint cooperation projects such as investing in infrastructure.

The two leaders agreed that both Korea and the United Kingdom are the best partners with whom to pursue cooperation in the creative economy and to share growth. In this regard, the two countries agreed to bolster cooperation in a substantial and mutually beneficial manner. The joint statement said, “The ROK and the UK agree to work closely in order to realise a common vision of developing the creative economy by combining science and technology with IT and promoting convergence between different industries as well as between industry and culture.”

President Park hailed the signing of a series of memoranda of understanding (MOUs) involving financial authorities, state-run organizations and private financial institutions of the two countries, saying that the United Kingdom is considered the heart of the financial world. The president said the signed MOUs would lay the groundwork for cooperation between financial firms of the two countries. She hoped that the two countries could strengthen their financial cooperation in both Korea and the U.K. as well as in third markets.

Seoul, London to strengthen cooperation in culture, science

The president and the UK prime minister welcomed the signing of MOUs between the two countries on cooperation in culture and the creative industries, basic sciences, energy technology, information and communication technology (ICT) and nuclear energy, including nuclear energy research and development and nuclear plant construction. The two leaders agreed to continue their “win-win cooperation” by cooperating on a wide range of sectors.

London supports Korean Peninsula trust-building process, Northeast Asian peace vision

In regard to North Korean issues, both leaders shared a common understanding that Pyongyang’s possession of nuclear weapons is unacceptable under any circumstances since it is a grave threat to not only the Korean Peninsula but also to the peace and stability of the international community. They reaffirmed that the North should faithfully keep its obligations and promises, including the United Nations Security Council resolutions and the September 19 joint statement for denuclearization. They also expressed concern about the seriousness of human rights conditions in North Korea and agreed to cooperate to improve human rights in the North.

Prime Minister Cameron expressed his support and willingness to help with the Korean Peninsula trust-building process and the Northeast Asian peace vision, saying that Britain will continue to play a leading role in the international community to help lead Pyongyang to make the right choice and follow down the path toward true change.

The president praised the United Kingdom’s lead role in dealing with global issues, as the country is one of permanent members of the UN Security Council and a key member of the G8 and G20. She proposed that she and her British counterpart form a global partnership to work together closely to jointly respond to global issues such as human rights, conflicts, sexual violence, development, climate change, cyber security and issues in the Middle East. The president welcomed the adoption of a joint statement on climate change and told the British leader to actively respond to climate change issues by focusing on green buildings and on Korea’s Emissions Trading Scheme, and carbon capture and storage plan.

The British prime minister welcomed Korea’s bigger role on the global stage and the strengthened cooperation between Korea and the United Kingdom. He also expressed his hope that the two countries could closely cooperate on issues in the Middle East and on development cooperation.

By Yoon Sojung
Korea.net Staff Writer
arete@korea.kr

President Park Geun-hye (right) is greeted by Prime Minister David Cameron of the United Kingdom on November 6 in London. (Photo: Cheong Wa Dae)

President Park Geun-hye (right) is greeted by Prime Minister David Cameron of the United Kingdom on November 6 in London. (Photo: Cheong Wa Dae)


President Park Geun-hye (right) and Prime Minister David Cameron of the United Kingdom pose for photos prior to the Korea-U.K. summit talks on November 6 in London. (Photo: Cheong Wa Dae)

President Park Geun-hye (right) and Prime Minister David Cameron of the United Kingdom pose for photos prior to the Korea-U.K. summit talks on November 6 in London. (Photo: Cheong Wa Dae)

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