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SK’s Chey proposes South Korea-Japan economic bloc akin to EU

Korea Economic Daily LogoKorea Economic Daily2 mo ago

SK’s Chey proposes South Korea-Japan economic bloc akin to EU - Korea Economic Daily

Quick Summary:

Now it has become a strong competitor in various fields, including energy, semiconductors and electric car batteries.”The SK chairman said Korea and Japan face common issues such as an aging population, depopulation and low economic growth, making it difficult for the countries to maintain their economic status.“If the two countries form a close economic coalition, similar to the EU, they can solve many problems together,” he said.

The Korea-Japan economic bloc, if combined with their common ally, the US, would create a more powerful economic zone amounting to $30 trillion in value, he said at the Trans-Pacific Dialogue, a forum hosted by the Chey Institute for Advanced Studies, in Washington, D.C.on Monday.“Korea and Japan have benefited from a global economic system such as the WTO.But not anymore.

WASHINGTON, D.C.– South Korea and its closest neighbor Japan need to form an economic coalition, similar to the European Union (EU), to meet the changing dynamics in Asia, including the emergence of China as a strong rival, SK Group Chairman Chey Tae-won said.


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Article Details

Category: Economy

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-12-06 @ 11:32:31 (2 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 409 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 19154904

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Main Topics: Economy

Official Website: kedglobal.com

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Headquarters: South Korea

News Last Updated: 12 hours ago

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Publisher ID: #91

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