Obama invites Lee Myung-bak to visit Detroit to promote U.S. car to enter Korea

According to Automotive News, two U.S. administration officials revealed on October 14 that U.S. President Barack Obama and South Korean President Lee Myung-bak will visit the Detroit Auto City and negotiate the promotion of automobile trade between the two countries.

The officials said that Lee Myung-bak will arrive in the United States next week. After the White House dinner on the 13th, the next day will be accompanied by Obama to visit the American automotive industry center Detroit. However, it did not disclose whether Li Mingbo will visit the auto manufacturing plant, but also refused to give a specific site for the trip. One of the officials said that the US-South Korea free trade agreement will become the core of both parties' negotiations. The key content is to win more favorable trade terms with Ford Motor, break the long-term trade barriers in the Korean auto market, and increase the level of US car exports to the Korean market. .

The U.S. and South Korea’s auto trade in recent years have been uneven: Hyundai’s Kia Motors continues to refresh its sales record in the United States, while U.S. cars are experiencing difficulties in the South Korean market. In November 2010, Ford published advertisements in newspapers complaining about the inequality of the US and South Korean auto trade. He pointed out that every time South Korea exports 52 vehicles to the United States, the United States can only export one car to South Korea.

At present, only General Motors has established a place in the Korean automotive market by establishing a joint venture subsidiary in South Korea. In 2010, the company sold and exported 1.84 million vehicles in South Korea, mainly GM Chevrolet models.