Readout of the President's Call with President Lee of Korea

The President spoke by phone this afternoon with Korean President Lee Myung-bak of Korea to welcome the entry into force of the U.S.-Korea Free Trade Agreement (KORUS) at midnight on March 15 in both countries.  The President noted that the agreement will begin boosting exports and creating jobs and growth immediately. The President thanked President Lee for Korea’s close cooperation in getting the agreement implemented, and noted this is a strong example of the accomplishments achieved in the U.S.-Korea partnership.  The two countries have made great strides in modernizing our alliance to promote security in the region and in promoting economic growth and trade in the Asia-Pacific.  The President also said he is looking forward to his upcoming March 25-27 trip to Korea and anticipates a successful Nuclear Security Summit.