대학신문방송국

Brexit

By Park Hyeon-su Chief Editor, Senior of English Language and Literature

  The European Union (EU) is a European political and economic community. It was established after the leaders of the 12 countries in the European Community (EC) agreed in December 1991 to form a European Union (Treaty on European Union). The purpose of the EU is promoting economic and monetary integration and political integration.  The treaty went into effect in November 1993 in Maastricht, Netherlands, after a ratification process by each country. The EU forms a national body with legislative, administrative, and judicial ministries. In other words, the European Parliament serves as the legislature, the executive committee as the administration, and the judicial tribunal as the judiciary. From such a well-organized EU, Britain carried out Brexit on Jan. 31, 2020. So what is Brexit? 

Brexit: A newly combined word from Britain and exit.

  In other words, it refers to the United Kingdom's exit from the EU. Politically and economically, the UK, one of the strongest countries in the EU, is expected to have a significant impact on the EU by withdrawing. The British Empire, once a superpower that ruled the world until the early 20th century, is still the world's seventh-largest economy as of 2020. Moreover, Brexit has developed into a global issue, as the UK is a powerful country that culturally affects the world, as well as it being a permanent member of the U.N. Security Council. 

  Brexit has many pros and cons in and out of the UK. Now, let's hear the opinions of those who wanted to stay in the UK and those who wanted to leave.

Remain support

J. K. Rowling, author of the Harry Potter series, was a representative EU “remainer.” Before the vote, she lashed out at those who pushed for Brexit, calling them monsters and villains. Shortly after the results of the referendum were finalized, she responded on Twitter with an extreme response of “Goodbye, UK,” and to her followers' request to "do something," saying, "I've never thought more earnestly that I need magic."

Withdrawal support

Michael Caine, currently living in the USA, was one of the few supporters of withdrawal from the British entertainment industry. Asked by The Guardian why he supported this withdrawal, he said, “It wasn’t about the racism, immigrants or anything, it was about freedom,” revealing that his choice was for a Britain free from the oppression of the EU and that he had no regrets about it. However, as the British economy has deteriorated due to Brexit and the U.S.-China trade war, Caine confessed his feelings, saying, “I'd rather be a poor master than a rich servant.”

So, what is the impact of Brexit on Korea?

  Although the UK voted to leave the EU in January 2020, there has been little immediate impact and they will maintain their previous relationship until December 31, 2020.

Last year, South Korea and the UK reached a bilateral free trade agreement in principle for fear of a "no deal Brexit," which is likely to cause much confusion.

  For Britain, South Korea is one of the key allies in the Asia-Pacific region, along with Japan, Singapore, Australia, and New Zealand. At present, Korea is one of few countries with a population of more than 50 million that maintains a high standard of living and economic strength. Right now, only Britain, France, Germany and Italy, which are G7 countries, have larger economies than Korea. KEPCO is said to be interested in Britain's Moorside nuclear power plant construction project, while the UK is also eyeing South Korea's nuclear power plant construction technology and possible future joint projects in South Korea and the UK.

As of January 2021, the UK will have a new relationship with the EU and will have to forge new global trade agreements. It will be interesting to see how the UK moves forward in the coming year, however, it will be a long time before we can determine whether Brexit was for the best or not.