The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Sat, May 21, 2022 | 08:28
Korean reunification to cost over $3 trillion
Posted : 2010-09-14 14:03
Updated : 2010-09-14 14:03
Print Preview
Font Size Up
Font Size Down
Local economic experts believe the country needs to immediately start saving up for unification with impoverished North Korea that will cost at least 3,500 trillion won ($3 trillion), a recent survey of experts released Tuesday showed.

Most of the experts also said the divided Koreas will likely be reunified within the next 30 years, according to the survey conducted by the Federation of Korean Industries (FKI), the largest business interest group in the nation.

The questions raised by the FKI came after President Lee Myung-bak proposed introducing a new "unification tax," which he said will help lessen the financial burden of reuniting with the communist North.

Sixty-three percent of the 20 experts surveyed said the reunification of the Korean Peninsula will cost more than that of Germany, about $3 trillion. The amount includes the initial costs of stabilizing the nation following a reunification, but also the costs of eradicating any economic and social disparities between the two Koreas.

Half of the respondents said the country needed to begin discussing ways to pay such enormous costs of reunification, while 20 percent said such discussions must begin immediately.

"It also showed every respondent saw the need for such discussions as no one answered such discussions were unnecessary," FKI said in a press release.

None of the respondents said the reunification will take place within the next five years, but 95 percent, or 19 out of the people surveyed, said the two Koreas will likely be unified before 2040.
 
  • Pro-, anti-Biden demonstrations to be held in front of Hyatt hotel
  • Biden arrives in South Korea for first summit with Yoon
  • S-Oil CEO apologizes for deadly refinery explosion in Ulsan
  • Samsung, LG expand into appliances with pet care features
  • Gov't extends mandatory quarantine for COVID-19 patients for 4 more weeks
  • South Korea-Japan relations in the shadow of Ukraine
  • Baseball, dogs: What Yoon, Biden have in common
  • Yoon, Biden to discuss Korea-US tech alliance in nuclear energy
  • South Korea's new COVID-19 cases drop for 3rd day
  • Summit could pave way for currency swap: analysts
  • Kim Sae-ron apologizes for her alleged DUI incident Kim Sae-ron apologizes for her alleged DUI incident
  • Reality shows raise concerns by zooming in on private lives of people Reality shows raise concerns by zooming in on private lives of people
  • TvN drama 'Rose Mansion' criticized for animal abuse scene TvN drama 'Rose Mansion' criticized for animal abuse scene
  • Former GFriend member Yerin makes solo debut with 'Aria' Former GFriend member Yerin makes solo debut with 'Aria'
  • 'The Roundup' off to record-setting start at box office 'The Roundup' off to record-setting start at box office
DARKROOM
  • People in North Korea trapped in famine and pandemic

    People in North Korea trapped in famine and pandemic

  • 2022 Pulitzer Prize: Bearing witness to history

    2022 Pulitzer Prize: Bearing witness to history

  • Worsening drought puts millions at risk

    Worsening drought puts millions at risk

  • Our children deserve the best

    Our children deserve the best

  • End of mask mandates

    End of mask mandates

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group