Thank you, Dina, for that kind introduction.

President Seo, thank you for having us here today and for your leadership of this great university. To the students and faculty of Sungkyunkwan, thank you for such a warm welcome.

I'm honored to be here—one of the world's oldest, and most vibrant, universities. Your educational tradition reaches back to Confucius and extends to cutting-edge research in fields like nanotechnology and bioengineering.

Thanks to that tradition, the Republic of Korea has transformed from an agricultural society to a global leader in innovation... all in a single generation: yours!

Today, Korean companies like Samsung and Hyundai are pioneering new technologies from cell phones to silicon. You enjoy greater Internet access than almost any other place on Earth. You also have the world's most advanced video game culture, which I'm sure your parents could never have imagined when they were children!

Technological advances are redefining the knowledge and skills that students and workers need. More and more, this starts with a college education. Few understand this as well as the people of Korea. More than 80 percent of your high school graduates go to college... the highest percentage of any country in the world.

There's no question in my mind that pursuing higher education, whether at home or abroad, is the right decision for students in today's world.

I talk to CEOs of Fortune 500 companies all the time. They consistently tell me that to compete in the global marketplace they need college graduates who know math, science and foreign language and who have problem-solving skills. And these days, companies are following the talent—whether that talent is in Seattle or Seoul.

I've traveled here this week—International Education Week—with a distinguished group of University Presidents from the United States. This is the first time my government has put together such a delegation. And I'm convinced it won't be the last! They come from all different kinds of institutions—large, small, private, public, community colleges and research institutions. And they represent the very best that American higher education has to offer.

Every one of these Presidents recognizes the importance of two-way education exchange programs. In fact, many already have vibrant research and other partnerships with Korean universities. It's just one more way that institutions of higher education are building the critical human capital necessary to achieve success in our new century.

America's 4,000 higher education institutions remain prime destinations for those seeking opportunity in our highly competitive world. For decades, we have attracted more students from Korea than almost any other country in the world—including former president Kim Young-sam and the popular singer P.S.Y.

Today, we invite even more of you to join us. We also want to send more of our students here. I applaud your goal of increasing foreign exchange as part of your Vision 2010 initiative. Whether pursuing a short stay or multi-year degree program, an exchange will enrich students' overall education experience and help them create a network of new friends and future colleagues that will last a lifetime.

Before I left for this trip, I met with a group of students from Korea who are studying in America. They told me about the things they enjoy most about studying in my country. Among them: our diversity and creativity; our focus on critical thinking; and our unparalleled access to world-class research.

They also remarked on how open and welcoming they have found the U.S. to be.

We're committed to making sure these same opportunities are available to you and students like you. I'm pleased to report that foreign student enrollment at U.S. higher education institutions is on the rise. In the last year, the number of student and exchange visas issued reached an all-time high of more than 590,000. Student visas were up 15 percent. We've been working to make the visa process smoother, easier and more transparent. In fact more than 97% of qualified student applicants get their visas within a matter of days. And the recently released Open Doors report shows that Korea continues to be one of the leading countries that send students to the U.S.

Universities—like those here with me today—are promoting the value of international education on their own campuses. They're eager to have you be a part of their student communities. And they're encouraging their own students to study abroad. They're committing new and significant levels of funding to support these programs, as well as providing orientation to campus and city life for foreign students to help make their transition easier.

U.S. higher education institutions are also using more creative marketing tools to encourage their students to study abroad. Some are incorporating one- and two-week study programs to overseas destinations tailored to what their students are learning in the classroom. Others require international study as a requirement for graduation. Bottom line: they recognize the benefit of and whole-heartedly support their students studying abroad—if even for a short period of time.

Since our universities are at the heart of recruiting and nurturing talent, they must adapt to make sure a college education equips students to be competitive in today's global workforce. That's why I convened a group of higher education and business leaders and asked them to explore ways to strengthen higher education in America. We need to make it more affordable, accessible, and accountable and provide students with more and better information.

No matter what country we call home, we all share the same commitment to students. Education opens the doors of opportunity and is the foundation for a better life, a brighter future, and a stronger alliance between individuals and nations.

As you pursue your goals and our students pursue theirs, I implore you to consider doing an international exchange. The reason is simple. In bringing diversity to our campuses and fostering a greater understanding of our different cultures, we will create a more prosperous and peaceful world... one friendship at a time.

I promise... it's an experience that will change your life.

Thank you. I'd be happy to answer any questions you might have.

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