Search

Begin New Search Political Geography South Korea Content Type Working Paper Publication Year within 3 Years

1. Strengthening Regional Value Chain between India and South Korea: Emerging Opportunities for Trade and Investment Cooperation

Author:
Durairaj Kumarasamy
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
The changing dynamics of supply chains and their impact on shaping international relations in East Asia have become crucial issues for scholars and policymakers. Asia’s two major economies, India and South Korea, are reassessing their strategy on the changing dynamics of the supply chain. India is to redesign its developmental strategy to establish India-centric supply chains in key industries. India has stressed its endeavour to become a self-reliant economy by introducing a highly ambitious Production-Linked Incentive (PLI) scheme to attract FDI in strengthening and establishing the supply chain linkages in India, whereas South Korea has adopted a strategy to mitigate supply chain-related risk through greater emphasis on developing strong self-reliance and promoting economic diversification by enhancing its economic ties with India. In addition, the pandemic-induced supply chain disruptions further reinforced South Korea toward diversification and resilience of its supply chain. South Korea’s development experience and deep investment relations with India can explore the untapped potential of bilateral trade and investment linkages. To ensure supply chain resilience both India and South Korea focus on critical sectors such as semi-conductors, steels, secondary batteries and chemicals, along with new technology areas like AI, 6G, Digital Infrastructure and renewable energy for cooperation. In this regard, the study explores the trade and investment relationship between India and South Korea and identifies the potential sectors to engage in the sustainable value chain between them.
Topic:
Investment, Trade, Economic Cooperation, Supply Chains, and Value Chains
Political Geography:
South Asia, India, Asia, and South Korea

2. South Korea and IPEF: Rationale, Objectives and the Implications for Partners and Neighbors

Author:
Jaewoo Choo
Publication Date:
02-2023
Content Type:
Working Paper
Institution:
Institut français des relations internationales (IFRI)
Abstract:
As a key manufacturer of high-end technology components critical to the sustainability of the Fourth Industrial Revolution, South Korea is essential in any effort to rebuild a resilient global supply chain but also to the promotion of a clean economy. South Korea can thus contribute to two of the pillars of IPEF (Indo-Pacific Economic Framework), specially to pillars II and III (supply-chain resilience and a clean economy). However, as the US executive and legislative branches intensify their hawkish approaches to China, they have not given much consideration to the possible damage they will inflict on the strategic interests of some of their allies. In particular, they have not fully considered Korean factors when legislating on bills such as the Inflation Reduction Act (IRA). This paper argues that allies such as South Korea and France must make the White House and US legislature aware of the external consequences of their decisions and behavior, and that they must cooperate within the confines of US-led strategic initiatives.
Topic:
Science and Technology, Economy, Supply Chains, and Semiconductors
Political Geography:
China, Asia, South Korea, and United States of America

3. Reshuffling Value Chains - South Korea as a Case Study

Author:
Françoise Nicolas
Publication Date:
04-2023
Content Type:
Working Paper
Institution:
Institut français des relations internationales (IFRI)
Abstract:
Despite all the talks about the reshuffling of value-chains and the trend to a form of industrial “Desinicization” (or decoupling/disengagement from China), the example of South Korea does not vindicate such assertions. The expansion of Korean direct investment in neighboring countries such as China and the Association of Southeast Asian Nations (ASEAN) remains a reality and it has not changed in any fundamental way over the past two decades. South Korean companies’ decisions to locate in one country rather than another are still very much based on cost factors, even if security considerations are increasingly factored in. Similarly, reshoring, which has been high on the South Korean government’s agenda for a long time, remains a marginal phenomenon for South Korean companies, despite the incentives provided. Rather than the relocation of production (in the form of reshoring or nearshoring) South Korean companies have turned to more unexpected options, such as the development of complementarity-based partnerships or vertically-integrated production networks with commodity suppliers, as in the case of the production of rare earth-based magnets. Such a strategy is likely to become more popular in the future, as it nicely combines economic and security considerations. Without a doubt, due to the highly politicized nature of the technology involved, the semiconductor industry is the one undergoing the most significant changes. In a context of rising Sino-US rivalry, the US has ramped up pressures on China with far-reaching consequences, leading South Korean semiconductor companies (with the support of the government) to engage in a strategy combining relocation to the US and onshoring in South Korea. While the economic logic is likely to prevail in most sectors thus limiting the scope for supply chain reshuffling, the examples of the semiconductor and rare earth-based magnets suggest that important changes can still be expected in the future in industries that are deemed strategic.
Topic:
Foreign Direct Investment, Supply Chains, Value Chains, and Semiconductors
Political Geography:
China, South Korea, North America, and United States of America

4. EU-South Korea Extend Cooperation Beyond the Economy

Author:
Oskar Pietrewicz
Publication Date:
06-2023
Content Type:
Working Paper
Institution:
The Polish Institute of International Affairs
Abstract:
The 10th EU-Republic of Korea Summit, held on 22 May in Seoul, reaffirmed the importance of South Korea as a critical Asian partner of the Union. The meeting also signalled the growing importance of security issues in bilateral relations. South Korea shares the EU’s assessment of Russian aggression against Ukraine and intends to continue to support the invaded country, but not with supplies of military equipment for now. The announcement of a “green” partnership indicates both sides’ willingness to engage in other areas of cooperation, which also will benefit the development of Polish-South Korean relations.
Topic:
Security, International Cooperation, Bilateral Relations, and European Union
Political Geography:
Europe, South Korea, and Poland

5. The Pathway to an Effective ETS and Power Market Interaction: The Case of the Korean ETS

Author:
Alistair Ritchie
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
Asia Society
Abstract:
The power sector is one of the most important areas to cover in any emissions trading system (ETS), due to the scale and abatement potential of greenhouse gas (GHG) emissions in that sector. However, some critical challenges need to be overcome before an ETS can fulfil its emissions-reduction potential by driving fuel switching away from coal and toward renewables and low-carbon fuels. This is one of the most important topics for ETS development in Asia given the tight controls on power markets. The case of the Korean ETS (K-ETS) provides valuable insights for the pathway to an effective interaction between an ETS and the power market to support power sector decarbonization, based on recent developments and potential next steps. The Pathway to an Effective ETS and Power Market Interaction: The Case of the Korean ETS describes the details of recent developments in Korea's power market and the emission trading system to address insufficient emission reductions in the power sector, key future developments required, and learning points for ETSs in other Asian jurisdictions.
Topic:
Energy Policy, Markets, Carbon Emissions, and Decarbonization
Political Geography:
Asia and South Korea

6. ROK-US Alliance: Linchpin for a Free and Open Indo-Pacific

Author:
Rob York, Chloe Clougher, Julian Gluck, Jaeeun Ha, and Lindsay Horikoshi
Publication Date:
06-2023
Content Type:
Working Paper
Institution:
Pacific Forum
Abstract:
The US-ROK alliance in 2023 celebrates its 70th anniversary, and in both countries remains broadly popular. Previous doubts that both countries have had about the other’s commitment have largely given way to a sense of shared opportunities, and shared challenges. Not only is there an ever-more belligerent North Korea, with its growing nuclear and missile arsenals, but the People’s Republic of China uses both military and economic means to coerce other countries and Russia has demonstrated a willingness to upend norms, redraw borders, and dare former partners (including Seoul) to risk its ire. This is also an era of the minilateral, as the US seeks to move past its previous hub-and-spokes alliance system in Asia and draw its partners into closer cooperation. South Korea, especially under its current administration, demonstrates increased interest in becoming a regional player, with its recent gestures toward old frenemy Japan representing a key test: historical differences between the US’ two closest partners have prevented a “normal” relationship from emerging despite many similarities in political systems, values, and interests, and Korean public opinion remains skeptical of the Seoul-Tokyo rapprochement. Furthermore, there is always a chance that issues complicating US-ROK relations in the past—conduct by US military personnel in Korea, trade disputes, environmental concerns related to US bases—could resurface. All of these issues present challenges for the alliance that will require addressing. In that light, the Pacific Forum, with the generous support of the Korea Foundation, has launched the “ROK-US Next Generation Leaders Initiative” program, bringing together young burgeoning scholars and analysts from both countries to discuss pressing issues in the alliance the way forward. This edited volume contains edited papers on pressing topics—extended deterrence, North Korea, China, Russia, Japan, and much more—by rising scholars we expect to see addressing these issues in the years to come. Their active engagement, we believe, will help the alliance endure another 70 years, will providing for the security and prosperity of both countries.
Topic:
Foreign Policy, Bilateral Relations, Alliance, and Regional Security
Political Geography:
South Korea, North America, United States of America, and Indo-Pacific

7. Peninsula Plus: Enhancing U.S.–South Korea Alliance Cooperation on China, Multilateralism, and Military and Security Technologies

Author:
Jacob Stokes and Joshua Fitt
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
Center for a New American Security (CNAS)
Abstract:
The United States–Republic of Korea (ROK or South Korea) alliance has entered a critical phase. In 2023, the two countries will commemorate the 70th anniversary of signing their bilateral mutual defense treaty. This year also marks the first full year under national leaders President Joe Biden and President Yoon Suk Yeol. After several challenging years in the two countries’ relationship, ties are improving. Better alliance relations have, unfortunately, coincided with a deterioration in the regional and global security environment, specifically due to threats from North Korea, China, and Russia. This report examines the U.S.-ROK alliance as it adapts to the new regional context by exploring how the United States and South Korea can sustain and deepen their relationship in three vital policy areas: coordination on China, alignment in minilateral and multilateral settings, and defense technology collaboration. Perhaps the biggest shift in alliance priorities in recent years has been the growing importance of the China challenge. During Chinese Communist Party General Secretary Xi Jinping’s decade in power, Beijing has adopted a more muscular foreign policy. Both the United States and South Korea have reshaped their approaches toward China in response. ROK concerns about China have grown as Beijing shields Pyongyang and acts aggressively elsewhere in the region, including toward Taiwan. But South Korea’s approach to China will continue to differ from that of the United States. The allies have divergent preferences regarding the speed, manner, and degree of partial decoupling with China. Moreover, South Korea’s deep trade ties with China will continue to make it vulnerable to Chinese political and economic coercion.
Topic:
Security, Science and Technology, Alliance, Multilateralism, Cooperation, and Military
Political Geography:
China, Asia, South Korea, and United States of America

8. COVID-19 and the Health of Banking Sector in Japan and South Korea: A Comparative Study

Author:
Munim Kumar Barai
Publication Date:
07-2022
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
The economies of Japan and South Korea are dominated by banks. Both countries have created a complex financial structure, including a well-established banking industry at their heart that supports economic operations. However, both countries’ banking sectors have previously faced crises such as the Asian Financial Crisis (mostly in South Korea), the Japanese economic slowdown, and the financial crisis of 2007-08 (both). While the Bank of Japan (BOJ) approved the quantitative easing (QE) monetary policy and lowered interest rates to manage the crises, the Bank of Korea (BOK) pursued interest and financial restructuring as well as banking system digitization to overcome the crises. Covid-19 has disrupted the normal operation of banks, and the central banks and governments of both countries have implemented a variety of monetary and other measures to mitigate its economic and financial consequences. This study aims to identify and assess the health of domestic banks in Japan and South Korea for the Covid-19 ex-ante and interim periods. Several important variables, i.e., portfolios of assets and liabilities, asset productivity, stockholders' equity, profitability, and operating efficiency, have been included to evaluate the health of their banks. This compari-son of health metrics for 2010 to 2020 could help identify changes or shifts in the banking sector of Japan and Korea. The study has used ex-ploratory and descriptive methodologies to undertake qualitative and quantitative evaluations of important bank health indicators in the ex-ante and interim periods of Covid-19. It also used a hybrid method to produce research goals and arguments, including a framework based on what was already known in the field.
Topic:
Financial Crisis, Economy, COVID-19, and Banking
Political Geography:
Japan, Asia, and South Korea

9. Building a Quad-South Korea Partnership for Climate Action

Author:
Kristi Govella
Publication Date:
07-2022
Content Type:
Working Paper
Institution:
German Marshall Fund of the United States (GMFUS)
Abstract:
Climate change is a pressing global problem that requires action at the local, national, and international levels. While most policy has logically focused on creating international pacts to address and mitigate climate change, interest in regional or minilateral cooperation among smaller groups of countries has also grown in recent years. When the Quadrilateral Security Dialogue—more commonly known as the Quad—convened its first leader-level summit in March 2021, its member countries Australia, India, Japan, and the United States identified climate change as a priority for the grouping and for the Indo-Pacific. They established a Quad Climate Working Group to strengthen implementation of the Paris Agreement and to cooperate on climate mitigation, adaptation, resilience, technology, capacity building, and finance.1 Since then, the Quad has continued to expand its climate activities. In September 2021, the grouping added the formation of a green-shipping network and the establishment of a clean-hydrogen partnership to its goals.2 In May 2022, the four partners took the additional step of launching the Quad Climate Change Adaptation and Mitigation Package (Q-CHAMP).3 Why have the Quad countries decided to include climate change on their agenda? They share serious concerns about climate change, which poses a significant threat to themselves and to the Indo-Pacific as a whole. In recent years, climate change has risen in prominence on the domestic political agendas of the four Quad partners, and there are gains to be achieved through coordination and cooperation of their separate national efforts. At a time when many countries feel that international institutions simply are not working quickly or effectively enough, minilateral initiatives such as the Quad have gained appeal as a more flexible way to facilitate joint action.
Topic:
Foreign Policy, Climate Change, Partnerships, Quad Alliance, and Defense Cooperation
Political Geography:
Asia, South Korea, United States of America, and Indo-Pacific

10. Expanding Engagement among South Korea and the Quad Countries in the Indo-Pacific

Author:
Kristi Govella, Garima Mohan, and Bonnie S. Glaser
Publication Date:
06-2022
Content Type:
Working Paper
Institution:
German Marshall Fund of the United States (GMFUS)
Abstract:
Since its revival in 2017, the quadrilateral dialogue among Australia, India, Japan, and the United States known as the “Quad” has become a stronger, more institutionalized grouping with a broad and growing agenda. As a leading economy, a vibrant democracy, and a key US strategic ally, South Korea stands out as one of the most promising potential partners for the Quad. With a new administration in office in Seoul, the time is ripe for South Korea to expand its engagement with the Quad countries in the Indo-Pacific. Even without formally expanding the membership of the Quad, which is currently not under consideration by its members, there are pragmatic and effective ways for these five countries to pursue their shared interests and values through a flexible set of mechanisms across a wide variety of crucial issues. After a brief review of the debates about the Quad in South Korea, this paper presents a framework for the country to consult, coordinate, and cooperate with Quad members through distinct institutional pathways: bilateral mechanisms, sub-Quad minilateral mechanisms, issue-specific engagement to achieve a specific functional goal, and more formal Quad Plus engagement on a broad strategic level. The paper offers the following recommendations for South Korea and the Quad countries to deepen their engagement in eight areas that correspond with Quad working groups and activities: critical and emerging technologies, infrastructure, health, climate change, education and people-to-people exchange, maritime safety and security, cybersecurity, and outer space.
Topic:
Foreign Policy, Quad Alliance, and Defense Cooperation
Political Geography:
Asia, South Korea, and Indo-Pacific