Daily Management Review

South Korea says it will participate in U.S. regional economic structure


South Korean President Yoon Suk-yeol announced the country's participation in the Indo-Pacific Economic Framework (IPEF) of the U.S.

Republic of Korea
Republic of Korea
The statement was made following talks with U.S. leader Joe Biden on Friday. 

Yoon Suk-yeol stressed the importance of the Indo-Pacific region to both Washington and Seoul. He said South Korea will now "responsibly and proactively fulfill the role expected of it by the international community." Participating in the IPEF will be a step toward building a "rules-based" order in the region, and South Korea will participate in this process with the United States, he added.

In addition, the countries intend to develop cooperation in nuclear energy, advanced reactors and small modular nuclear reactors.

As previously reported, the structure of IPEF was created at the initiative of U.S. President Joe Biden. It is believed that this economic alliance is aimed at deterring China. 

The official launch of the IPEF may be announced next week during a summit in Tokyo.

source: cnn.com