Korea Chair Monitor | Vol 3 Issue 7
April 10, 2015
The Korea Chair team takes a biweekly look back at events of interest in Washington, Seoul, and the region from March 26 - April 8, 2015.
U.S.-ROK RELATIONS | Secretary of Defense Ashton Carter’s Trip to Asia
Secretary of Defense Ashton Carter began his trip to Asia on April 6, which is his first bilateral trip abroad since he took office in February 2015. Secretary Carter visited Japan from April 7 to 9 and will vist the ROK from April 9 to 11. In Seoul, he will meet with Minister of National Defense Han Min-koo to discuss the U.S.-ROK alliance. He will also visit the ROK Navy’s 2nd Fleet Command to pay tribute to soldiers who died during the 2010 Cheonan sinking. Officials have said Terminal High-Altitude Area Defense (THAAD) missile defense system discussions are not on the agenda.
ECONOMICS AND TRADE | South Korea Joins the AIIB
On March 27 South Korea applied to join the Asian Infrastructure Investment Bank (AIIB) as a prospective founding member. The deadline to apply was March 31. It is anticipated that South Korean manufacturing and construction companies will benefit from the country’s participation. Negotiations have yet to occur regarding countries’ percentage shares of the AIIB, but according to the AIIB’s official website, the Articles of Agreement will be finalized and prepared for founding members’ signatures in June 2015.