Korea is one of the United States? largest trading partners. Currently, it is our sixth largest export market, bigger than those of Australia, Brazil, China, France, or Italy. It is our second fastest growing market for high-tech exports, and it is our fourth largest market for food products. U.S. exports to Korea are increasing and will continue showing double-digit growth in the months ahead. However, it would be a mistake for corporate America to become complacent about this market. This huge export opportunity has not gone unnoticed by our EU and Asia-Pacific competitors. Their direct investments in Korea are steadily expanding and the EU has displaced the U.S. as Korea?s largest investor. We predict that the months ahead will see extreme competition as both foreign and domestic firms vie for positions of leadership in this lucrative and growing market. These opportunities notwithstanding, Korea also has been described as one of the toughest markets in the world for...

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