The Word on Arirang
Economic implications of 'Brexit' On-set interview Prof. Yang Jun-sok from Catholic University of Korea
The economic tremors following Britain’s decision to leave the European Union have already spread across the globe as financial markets all across the globe took a punch today.
Of course, much more economic ramifications still to come.
Joining me live in the studio is Dr. Yang Junsok, Professor of Economics at the Catholic University of Korea.
Professor Yang, thanks for joining us.
Now, let's start with the impact of Britain's decision on the UK economy.
Economists had predicted that a vote to leave the bloc could do substantial damage to the British economy.
Is that a fair forecast?
Now, the UK is the first of the European Union's 28 members what will this mean for the EU economy?
UK contributes roughly 19 billion U.S. dollars per year as annual contribution to the central EU budget. Not only that, it makes up a huge portion of the EU economy.
What about its impact on other parts of the world? For instance, Korea. Do we expect Korean firms trading with UK partners to feel immediate impact? Also, Korea has an FTA with the European Union. What's going to have to happen on that front?
Yang Junsok, Professor of Economics at the Catholic University of Korea, Thank you indeed for joining us tonight.
Updated: 2016-06-24 20:19:35 KST
