REMARK BY H.E. GONG RO-MYUNG 
AT 
THE DINNER IN HONOUR OF H.E. HALLDOR ASGRIMSSON 
MINISTER FOR FOREIGN AFFAIRS AND EXTERNAL TRADE OF ICELAND

Seoul, Aug. 28, 1996 

Minister Halldor Asgimmson, Distingushed guests,

It is a great pleasure for me to have you with us at my residence this evening. I would like to extend my 
warmest welcome to Your Excellency and members of your delegation, who have travelled a long way to visit 
Korea. 


Your visit this time, accompanied by many businessmen, attests to the great potential of ever-deepening 
friendly ties and cooperation between our two countries, as both economies continue to grow. Iceland is well 
known to Koreans as an island of magnificent and scapes with sparkling glaciers, beautiful waterfalls and 
lakes, last springs just to name a few. 


Reykjavik is a well-known place of the world and your people are proud of the historic role you played during 
Summit in 1986. We also know well that Iceland, the second largest island in Europe, has been a stepping 
stone connecting the old world and the new one. 


Despite the geographical distance that seperates Korea and Iceland, I think our two countries have much in 
common : Both countries, located at strategic points in Northeast Asia and the North Atlantic respectively, 
share democracy and a market-oriented economy. We both take great pride in our people characterized by 
diligence, optimism, and a zeal for education. I am sure that these common characteristics and sttitudes 
bode well for the future of our bilateral relations.

Mr. Minister, 

We have maintained a close relationship since the establishment of diplomatic relations in 1962. Bilateral 
trade volume between Korea and Iceland has recorded a 23% average annual increase over the last five 
years, from $9.3 million in 1992 to $14.9 million in 1995. Though the volume is yet marginal considering our 
respective foreign trade, it is encouraging to see steady growth. 


I am happy to note that we had this morning a fruitful exchange of views on various issues of mutual 
interest. I think that there is much room for us to cultivate cooperative ties not only on a bilateral level but 
also within regional and international fora. Our two countries are dynamic economies in the far north of 
Europe and in the Far East of Asia. 


Iceland is also well known for its most efficient fisheries, the highest level of mobile cell phone ownership in 
the world and the highest number of Internet connections in the world. We have plans to invest a great 
established a new ministry, which integrates maritime affairs and fisheries into a unified command. 


It is expected that this restructuring will contribute to coping with fisheries and maritime activities more 
efficiently in this time of dramatic change at sea.

Mr. Minister,

You will be witness to the last remnants of the Cold War when you visit Panmunjom, the truce village dividing 
North and South Korea. The division still remains and unbearable tragdey for our people and causes 
tension on the peninsula and Northeast Asia in general. 


I hope North Korea will come forward in our proposal for the Four Party Talks. It is indeed a forthcoming and 
realistic proposal, promising genuine conciliation and cooperation between North and South Korea. It is 
also our earnest hope that North Korea will outlive its econovic hardship, food and energy shortages, and 
political insecurity, by opening itself to the outside and finding a wayout through reform of its society.

Mr. Minister,

I am sure that your visit to Korea will provide you with a unique opportunity to gain a better understanding 
of Korea and its people. Short as it may be, I hope your stay in Korea will be enjoyable and rewarding. 


Distinguished Guests, 

Please join me in a toast to the good health and wellbeing of His Excellency Halldor Asgrimsson and to the 
everlasting friendship between the Republic of Korea and the Republic of Iceland. 

Thank you.