(SEOUL, South Korea) — President Obama made a pitch for greater investment in the U.S. markets Friday during a meeting with top Korean and American business leaders, including the heads of Electronics giants LG and Samsung, Hyundai Motors and Hankook Tire.
“I just want to remind companies around the world that if you are looking for a great place to set up shop come to the United States,” he said drawing chuckles in the room. “We’ve got outstanding workers, great universities, incredible productivity, great energy sources, and a pretty big consumer market, the last I checked.”
Obama said many of the leaders have already been in discussions with U.S. Trade Representative Michael Froman and senior economic advisor Carolyn Attkisson about how to promote trade and create jobs in both countries.
“Under the US-Korea free trade agreement, our trade has increased. These business leaders know concretely what this means,” Obama said of the 2012 trade deal. “American companies are exporting more to Korea. Korean companies are exporting more to the United States. So it’s a win-win for both countries.”
“We also know that we still have some more work to do to fully implement the trade agreement and make sure that we’re maximinzing it’s benefits,” he added, “that our companies can compete fairly in areas like autos and IT and organic foods.”
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Madison Park, Keith Allen and Andreas Preuss, CNN