Since those days three decades ago when young Koreans and Americans fought together in the cause of human freedom, the world has undergone swift and sometimes violent change. Yet the peace, economic progress, and freedom from foreign domination that have characterized modern Korea are testimony to their vigilance and their sacrifice.

We are resolved never to forget the dangers they so bravely resisted, nor abandon the struggle they so willingly joined. Today, in a tense time of peace, we stand together as we once did in time of war. Our purpose is the same, our resolve unshaken. We renew today our commitment to each other and to the cause of Korean and American freedom.

As we begin a second century of friendship between our peoples, Nancy and I are particularly happy to return to this beautiful country. We look forward to seeing old friends and making new ones. But our hope most of all is that our visit will bring the people of Korea and the United States even closer together, and that our mutual efforts in pursuit of peace will bear fruit, not just for the Korean and the American people but for all the peoples of the Earth.

We're grateful to the Korean people and the Government of Korea for this invitation. Let me assure you we bring with us the fondest hopes of the American people for continued peace and prosperity in this scenic ``Land of the Morning Calm.''

Thank you.

Note: The President spoke at 10:41 a.m. in the International Terminal at the airport in response to welcoming remarks by President Chun Doo Hwan of the Republic of Korea. Following the arrival ceremony, President and Mrs. Chun accompanied the President and Mrs. Reagan to the residence of Richard L. Walker, U.S. Ambassador to the Republic of Korea, where the Reagans stayed during their visit.