Jung Da-hyun is a reporter at The Korea Times, covering social issues in Korea, including foreign residents, education, environment and politics. Driven by a deep interest in people’s stories, she focuses on investigative and feature reporting through direct interviews and field coverage. She received the Amnesty International Korea Media Award for her “Deepfake Crisis at Schools” series. Reach her at dahyun08@koreatimes.co.kr. Always open to hearing your stories.
Korea Times-Hankook Ilbo forum to seek new strategies amid realignment of global order
Brian Deese, former director of the National Economic Council (NEC) under the Joe Biden administration
By Jung Da-hyun
The Hankook Ilbo and its sister paper, The Korea Times, will co-host The Kor-Asia Forum 2023 in Seoul, Thursday, during which participants will discuss Korea's strategies in response to the reshuffling of the global economy.
The annual event, which will take place at the Seoul Dragon City Hotel starting from 9 a.m., will feature a range of renowned experts.
Brian Deese, former director of the National Economic Council (NEC) under the Joe Biden administration, and Kim Jong-hoon, former minister for trade, will discuss the restructuring of the global economic order from a U.S. perspective.
Kim Jong-hoon, former minister for trade
Wi Sung-rak, a former Korean ambassador to Russia, and Kang Seon-joo, a professor of international economy and trade studies at the Institute of Foreign Affairs and National Security, will analyze the future of the Korea-U.S. alliance in light of the U.S.-China hegemonic rivalry.
Trade Minister Ahn Duk-geun will present the government's response strategy to adapt to the changing economic order, while Jeon Byung-seo, head of the China Economic and Financial Research Institute, will propose refined tactics to respond to shifts in the Chinese market.
Maekawa Naoyuki, the director general of the Japan External Trade Organization (JETRO) in Seoul, and Jeong Oe-young, the head of KOTRA's innovative growth headquarters, will discuss a plan for economic cooperation between Korea and Japan.
The forum comes as the foundation of the global economic order has undergone a significant shift, transitioning from a focus on free trade to becoming more intertwined with security concerns.
With the increasing hegemonic competition between the United States and China, there is growing pressure on Korea to align with one side, preventing it from maintaining its current balanced approach of relying on the U.S. for security and China for economic interests.
Wi Sung-rak, former Korean ambassador to Russia
Furthermore, the world economy has grown increasingly unpredictable due to the prolonged war between Russia and Ukraine and the ongoing conflict between Israel and the Palestinian militant group Hamas.
Nonetheless, there are opportunities for addressing these crises. The Asia-Pacific Economic Cooperation (APEC) summit scheduled for this month is seen as a chance for Chinese President Xi Jinping to visit the U.S. and possibly have a summit with Biden.
The Yoon Suk Yeol administration is also demonstrating a strong commitment to organizing a trilateral summit involving Korea, China and Japan, in addition to the trilateral summit with the U.S. and Japan, which took place in August at Camp David, the U.S. presidential retreat in Maryland.
Yoon has recently held meetings with the leaders of India and ASEAN member countries individually, aiming to diversify Korea's global market presence.
Given these circumstances, the time has come for the country to formulate an economic strategy that ensures its survival and prosperity without being overly aligned with a specific country or ideology.
The forum will also include a session focused on developing a survival strategy for key industries in Korea.
The forum will be livestreamed on The Hankook Ilbo's official YouTube channel.