[Economy · Trade] [송경진 회원/Song Kyungjin] News Focus: S. Korean firms in delicate balancing act over U.S. economic framework (YONHAP NEWS AGENCY 2022.05.21)

Date: 2022-05-25

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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Source: https://en.yna.co.kr/view/AEN20220520008400320

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