Moon express strong support for multilateral trade mechanism, saying it is duty for S. Korea…

Moon express strong support for multilateral trade mechanism, saying it is duty for S. Korea…

President Moon Jae-in is in Thailand, the
first leg of his three-nation tour to Southeast Asia. The South Korean leader delivered a keynote
speech at a business forum, touching on ways for the two countries to co-prosper through
innovative growth and new technologies. Moon also pressed on the importance of free
trade. Shin Se-min starts us off. President Moon Jae-in said a multilateral
trade mechanism is a duty of South Korea and Thailand. Such a remark comes as President Moon spoke
at a joint business forum in Bangkok as part of his state visit itinerary in Thailand. Expressing opposition to protectionist trade
measures,… the South Korean leader pressed on the importance of free-trade in reference
to the ongoing trade row between Seoul and Tokyo…which has caused bilateral relations
to plummet to the lowest ebb in years following Japan’s export restrictions on South Korea
in July. “Standing against protectionism, which raises
uncertainty over the global economy and gives rise to a ‘reduction balance’ is a duty of
South Korea and Thailand two nations that have been benefitting from free trade.” With that the South Korean leader said his
administration will cooperate with Thailand on expanding free and fair trade order. He added both Seoul and Bangkok will cooperate
for an early deal on the Regional Comprehensive Economic Partnership- also known as RCEP. Also making its global debut South Korea’s
“Brand K” a collaboration of around 40 small-sized domestic firms that market diverse products
ranging from K-beauty to daily supply goods. The companies under the “Brand K” umbrella
will be given the opportunity to expand their business abroad, by confirming “unlimited
potential” for economic cooperation. Pressing that Seoul will work with Bangkok
in the era of the Fourth Industrial Revolution Moon expected a great synergy effect between
the two should they combine their innovative capacities and technologies. Moon also pointed that permanent peace on
the Korean Peninsula can open new doors for business opportunities,.. saying that he believes
the two other major parties in the region, North Korea and the U.S., would remain steadfast
in their willingness to continue nuclear negotiations. The leaders of the two sides also agreed to
boost their security cooperation by clinching a General Security of Military Information
Agreement. And the South Korean leader stressed that
the deal will allow the two sides to coordinate closely on military and defense-related issues
and open a future of peace, co-existence and co-prosperity in East Asia. Shin Se-min, Arirang News.

Danny Hutson

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