President Moon Promotes Economic Self Reliance After Japan Official Implements Trade Restrictions

The talk of economic self reliance from President Moon could be construed as “juche“, but he is really promoting bringing back production to Korea from overseas plants:

President Moon Jae-in said it was time for Korea to protect its economy on the day Japan officially removed Korea from its so-called white list of countries that receive preferential export treatment.  

“We have no choice but to protect our economy at a time when free and fair trade is being shaken by trade retaliation for political purposes,” Moon said on Wednesday while attending a groundbreaking ceremony for a new Hyundai Mobis plant in Ulsan. “What we need now is the will and confidence to protect our economy on our own.” 

Joong Ang Ilbo

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