President Lee Jae Myung (right) shakes hands with Rep. Young Kim of the US Congress in New York on Monday. (Pool photo via Yonhap)
President Lee Jae Myung (right) shakes hands with Rep. Young Kim of the US Congress in New York on Monday. (Pool photo via Yonhap)

President addresses concerns over impact of trade deal on S. Korea's FX market, urges 'commercially reasonable' deal

NEW YORK — President Lee Jae Myung on Monday stressed that raids such as the one conducted on South Korean professionals in Georgia early this month should never repeat, drawing sympathy from US lawmakers over the need to improve visa policies, according to the presidential office.

The presidential office also noted that Lee — who met with four US lawmakers: Reps. Young Kim and Gregory Meeks, as well as Sens. Jeanne Shaheen and Chris Coons —anticipates that Seoul and Washington's joint efforts to resolve visa complications could build momentum towards the passage of the Partner with Korea Act.

The bill for the Partner with Korea Act dictates that 15,000 E-4 visas would be newly allotted for South Koreans with specialized education or expertise. No E-4 visa quota is currently distributed to South Koreans.

As the legislative progress of the bill remained stalled, US visa uncertainties for South Koreans have grown, particularly after the recent surprise immigration crackdown at a battery plant construction site in Georgia. The raid left 316 South Korean nationals detained for a week until they returned to Korea on Sept. 12.

Regarding the ongoing trade talks, Lee said he believed South Korea and the US could find a way to ensure the trade deal would be "commercially reasonable." However, concerns remain that the deal could significantly impact South Korea's foreign currency exchange market, depending on how the trade talks unfold, Lee added.


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