YONHAP NEWS AGENCY | Song Kyungjin head of the Seoul-based Innovative Economy Forum
2022.05.21
South Korean companies could find themselves attempting a precarious balance between Washington and Beijing, as Seoul announced its decision to join a new U.S.-led regional economic initiative that does not include China.
President Yoon Suk-yeol said Saturday that South Korea and the United States will work together to develop the Indo-Pacific Economic Framework (IPEF).
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South Korea's joining of the IPEF is expected to diversify its "trade partners, and reduce trade and economic dependence on a few particular countries," said Kyungjin Song, head of the Seoul-based Innovative Economy Forum.
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