The National Security Office has adopted a strategy of “pressing” China to open the technology market through free trade by strengthening the ROK-U.S. technology alliance.
Kim Tae-hyo, first deputy chief of security, formalized participation in the US-led Indo-Pacific Economic Framework (IPEF) on the 18th, saying, "In contrast to traditional trade agreements that aim to open markets for goods and services, IPEF focuses on new trade issues such as supply chain digital clean energy. It is to build a new economic and trade cooperation system," he said.
Deputy Director Kim said of China, "It is not rejecting China," adding, "There is a Korea-China free trade agreement (FTA), but we will discuss follow-up agreements with China. “There is,” he said, implying pressure to open the technology market to China.
"Korea will play a leading role, presenting a new standard of creation, inviting additional countries, and realizing our national interest in the IPEF," said Deputy Director Kim.
White House Security Adviser Sullivan Sullivan said at a briefing on a trip to Korea and Japan on the 19th that "President Biden will meet with the new president Yoon Seok-yeol in Korea." “President Biden will engage with South Korean technology and manufacturing leaders who are investing billions of dollars in America to create thousands of good jobs in the United States,” he said. described as an alliance.
On the 18th, Hyundai Motor Group removed 'hundreds of billions of dollars' of Kia's total investment in electric vehicles of 21 trillion won on the 18th, and plans to produce 100,000 units of purpose-based vehicles (PBV) in Hwaseong by 2030 in response to the controversy over the entire US investment in electric vehicles. announced.
The South China Morning Post (SCMP) reported on the 17th that Chinese Foreign Minister Wang Yi told South Korean Foreign Minister Park Jin in an official phone call to "reduce anti-China sentiment and try to avoid a new Cold War."
“Korea-China relations will face challenges as the Yun Seok-yeol administration seeks to play a larger role in Washington’s Indo-Pacific strategy and is poised to seek close ties with the United States and Japan,” said Sun Xingze, a Korea expert at Jilin University in China. “The new government of South Korea is highly likely to return to the ROK-U.S. alliance and improve relations with Japan to solidify the Korea-US-Japan trilateral alliance,” he said.