South Korea joined the U.S.-led Indo–Pacific Economic Framework (IPEF) that aims to counter the Chinese Communist Party, a move which could increase the country’s GDP in the long-term despite a reduced economic dependence on China, economists said.
In May, South Korea became a member of the IPEF, joining 12 other nations including Japan, Australia, New Zealand, and India. The other nations are Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
Together, these nations share a third of the world’s population and 40.9 percent of its GDP, according to South Korea’s Ministry of Industry, Trade, and Resources….