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PACIFIC WATCH

South Korea

January 16, 1995| Times Staff and Wire Reports

Nation to Apply for Economic Membership: The South Korean government will apply for a membership in the Organization for Economic Cooperation and Development as early as this week, officials said. A Foreign Ministry official said his ministry is now waiting for final approval from President Kim Young Sam to submit the application to the Paris-based group of advanced economies. The South Korean government has said it would join the OECD by 1996 to become the 26th nation to do so. Mexico received the membership last year as the 25th nation. The official said there are no obstacles for South Korea to get the membership, given the country's economic strength. South Korea's gross national product is 12th largest in the world.

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