The Three Economic Benefits of Reunification with North Korea

The Three Economic Benefits of Reunification with North Korea

  • Submitted By: ljh830515
  • Date Submitted: 11/29/2009 7:00 AM
  • Category: English
  • Words: 731
  • Page: 3
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Min Sung, Jung, So Eun

The Three Economic benefits of Reunification with North Korea

According to the survey, conducted by DAUM, which is one of the famous internet portal sites, 69.1% of young people disagree with reunification with North Korea. There is a fact that they don’t know about reunification. Reunification means not only an ethnic combination but also means an economic development. Since Korea is divided into two parts, South Korea isn’t able to grow financially anymore surrounded by ocean, blocked to the north and guarding against each other. Reunification allows economy of South Korea’s improvement through increased trade with Russia and China, Korean military system’s change and stabilized job market. Reunification with North Korea would bring significant economic benefits that 69.1% of young people can’t see.

Firstly, activated trade with Russia and China would engender productive commerce. Reunification allows even more trade with Russia and China than before, since trade using a land route through North Korea is possible instead of using a sea route, which has disadvantages of trade such as expensive shipping expenses and longer time. As trade gets activated with Russia and China, the price of three countries would be lowered. For instance, if Korea imports pens from both Russia and China, kinds of pens in Korea would be various and more number of pens would be circulated in Korean market. Since Korean consumers’ choice of pens would be widened and scarcity of pens in Korea would be decreased, overall price of pens in Korea would go down. This might happen in Russia and China too. Also North Korea’s enormous underground resources such as coals and gold would support Korea’s economy. Because of finite amount of natural resources, North Korea’s underground resources would be exported to Russia, China and etc at a high price.

Secondly, Korean military forces wouldn’t damage Korean economy anymore. Both South and...

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