The name would've been different if it had been founded in a different city, so actually calling it the Kalmar Union in-game doesn't really make much sense. Scandinavia works well.
But if the Kalmar Union exists from the start, as it did in 1444. Then Scandinavia should be called the Kalmar Union. All later attempts to re-unite Scandinavia by either Sweden or Denmark, are IRL referred to as attempts to restore the Kalmar Union
The english adjective would be Nordic, Norse or Scandinavian.
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