Tag - US- South Korea Business

Korea needs to cut reliance on US economy: think tank

South Korea should reduce its reliance on the US economy and push to galvanize domestic demand as the world’s No. 1 economy is expected to continue its slow growth down the road, a state think tank said Friday. In a report on the future of the US economy, the Korea Institute for International Economic Policy forecast its annualized average growth rate to hover below 2 percent until 2060 due mainly to its population aging and the slowing pace of technological [...]


Park, Trump reconfirm Korea-US alliance

President Park Geun-hye and US President-elect Donald Trump on Thursday reconfirmed the partnership between the two nations, jointly recognizing the need to maintain a powerful defense system on the peninsula against North Korea. In a telephone conversation which lasted for some 10 minutes, Trump repeatedly underlined that Washington is with Seoul “all the way,” according to Cheong Wa Dae. “The Korea-US alliance has built up trust over the past 60 years and laid the foundation of peace and prosperity in the [...]