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Automakers Commend Korean President's Economic Reform Efforts

10 June 1998

Automakers Commend Korean President's Economic Reform Efforts

    WASHINGTON, June 10 -- The following is a statement by Andrew
H. Card, Jr., President & CEO of the American Automobile Manufacturers
Association (AAMA), regarding the U.S. visit of South Korean President Kim
Dae-jung:

    "The American Automobile Manufacturers Association welcomes Korean
President Kim Dae-jung, and strongly commends the efforts he has made to
restore the economic health of the Korean economy.
    AAMA particularly supports President Kim's plans to rebuild the Korean
economy through policies based on free-market principles and transparent
business and government practices.  Such reform would be welcome steps in the
right direction.
    Despite the progress made so far, AAMA and its member companies continue
to struggle with a series of policies and practices that severely restrict
access by U.S. and other foreign automakers to the Korean auto market.  We
understand that new negotiations between the two governments are now underway
and look forward to having those issues resolved.
    We encourage the Kim Dae-jung administration to continue to pursue an
economic reform path that both benefits U.S. industry and helps rebuild the
Korean economy."

    AAMA is the trade association whose members are Chrysler Corporation
, Ford Motor Company and General Motors Corporation
.  Visit the AAMA's site on the World Wide Web at
http://www.aama.com.