Social Abstracts

Japan, South Korea explore free trade Political differences once in existence between Japan and South Korea once hindered the import and export industries of both companies. Now, with S. Korea's economic recession and Japan's economy staggering, there has been much conversation over the possibility of a free trade zone consisting of the two countries. This meaning the free movement of good, capital and people as President Kim Dae-jung of South Korea conveyed his government's position …

…and South Korea. The program came second to the already agreed upon $42 billion Japan provided the International Monetary Fund's bailout package to Asian countries with a currency crisis. There is a possibility that the economy will not be able to return to growth in fiscal 1999 despite the government's prediction for a 0.5% growth. Should this growth not occur, Japan would suffer from economic doldrums leading to its nation further into self-doubt and a loss of direction.