21. The Biden Administration’s Economic Security Policies and ROK-U.S. Relations
- Author:
- Wang Hwi Lee
- Publication Date:
- 11-2022
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- Wang Hwi Lee, Professor at Ajou University, claims that United States’ move to exclude China from global supply chains will likely benefit Korean semiconductor and secondary battery businesses as Beijing’s aggressive push to become a world leader in high-tech industries poses a systemic threat to Korea. However, it is difficult for South Korea to drastically lower its economic dependence on the Chinese market to the level that the U.S. government desires, and thus not to be eligible for subsidies that the U.S. government provides. In this regard, Professor Lee points out that Korean firms are about to lose their share and returns in both the American and Chinese markets in the short run. Yet, he also emphasizes that economic tension between Seoul and Washington must not affect their military alliance, given that the security threats from North Korea are getting intensified.
- Topic:
- International Relations, Foreign Policy, Supply Chains, Economic Security, and Semiconductors
- Political Geography:
- South Korea, North Korea, and United States of America