The Korea Times

APEC China should revitalize Asia-Pacific economy

The Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, scheduled for Nov. 18-19, should serve as an event to revive the Asia-Pacific's economic dynamism and unlock the region's enormous potential. In the artificial intelligence (AI) era, regional economic security and supply-chain resilience will help determine global prosperity. High tariffs and technological rivalry make cooperation urgent. Korea should carry APEC Gyeongju's achievements forward to Vietnam's 2027 chairmanship. In 2024, APEC's 21 economies accounted for approximately 61 percent of global gross domestic products, 46 percent of trade in goods and commercial services and 37 percent of the world's population — nearly 3 billion people. Their strengths span technology, finance, manufacturing, consumer markets and natural resources. AI, robotics, clean energy and digital services offer growth opportunities that depend on resilient supplies of semiconductors, computing power, minerals and electricity. Diversified sourcing and predictable policies can strengthen resilience and expand market access for small

Nov 2, 2026By Park Jin

APEC China should revitalize Asia-Pacific economy

Nuclear phase-out policy should be reversed

By Park JinKorea possesses a highly developed nuclear industry with 24 nuclear reactors and four more under construction. The country depends substantially on nuclear energy which produces around 29 percent of its electricity supply. The decision by the Moon Jae-in government, however, to phase out nuclear power plants in favor of renewable energy due to environmental and safety concerns in 2017 invited greater risks of economic costs, power shortages, scientific and technological setbacks and, not the least, strong political opposition. Recently faced with electricity shortages, the Moon administration ordered the early restart of three nuclear reactors (Shin Wolsong 1, Shin Kori 4, Wolsong 3) that had been shut down for maintenance, in order to bring them online within July. The decision appears to have been reached in light of the muted effect of energy-saving measures such as cutting air conditioning at public agency offices during peak hours, and the recognition that these measures will not resolve the risk of an energy shortage.This decision illustrates how ill-conceived Korea'

Aug 2, 2021By Park Jin

Summit opens new chapter in alliance

By Park Jin The summit between Presidents Moon Jae-in and Joe Biden has reinvigorated and globalized the ROK-U.S. alliance on the security, economy, technology and health fronts, while both sides also agreed to pursue the inter-Korean “peace process” envisioned by Seoul. It's a surprising outcome that could transform the uneasy alliance into a global partnership.It is noteworthy that the two leaders mentioned peace and stability in the Taiwan Strait, for the first time in the history of the ROK-U.S. summit, despite China's concerns. The Washington summit also touched upon freedom of navigation and flight in the South China Sea, an issue that Seoul has been cautious to speak about, in order not to discomfort Beijing. The two presidents thus stood on the same side regarding sensitive regional security issues, in response to any coercive actions from China. The joint statement also stressed "open, transparent, and inclusive regional multilateralism," including the Quadrilateral Security Dialogue, also known as the Quad, a network of quadrilateral cooperation between countrie

Jun 10, 2021By Park Jin

Korea needs to consider joining Quad to make 'Penta'

By Park JinWith President Moon Jae-in having less than a year left in office, Korea is faced with mounting challenges in the areas of diplomacy, security and economy. The external challenges include discord in its alliance with the U.S., stagnating relations with Japan and the suspended trilateral cooperation among South Korea, the U.S. and Japan. On the security front, the Moon administration has dogmatically pursued its “Peace Process on the Korean Peninsula.”Nevertheless, inter-Korean relations have only regressed and North Korea's nuclear and missile threats have been noticeably augmented. In the economic area, Korea has been increasingly caught between the U.S. and China in the global competition to obtain semiconductors, electric batteries and rare-earth materials as well as in the contest for superiority in artificial intelligence and 5G technologies.In the meantime, the Quad, a quadrilateral consultative body made up of four democratic nations active in the Indo-Pacific region ― the U.S., Japan, Australia and India ― has been formed and upgraded. For the reasons o

Apr 4, 2021By Park Jin

Korea needs to consider joining Quad to make 'Penta'

Korea, US should promote 'vaccine partnership'

By Park JinThe resurging coronavirus is wreaking havoc on a global scale. The U.S. records spiraling new infection cases exceeding 250,000 a day. The Republic of Korea had managed to keep the coronavirus eruption largely under control until recently. Due to the cold weather and perhaps slack containment however, the daily outbreaks of COVID-19 have been surpassing 1,000 since mid-December.The resurgence of the COVID-19 pandemic has forced many countries to race for the acquisition of vaccines to prevent the unbridled spread of the potentially fatal disease. The Trump administration expedited the development of high-tech vaccines, spearheaded by leading companies such as Pfizer and Moderna. President-elect Joe Biden has already committed to ensuring that at least 100 million Americans get vaccine shots within 100 days of his inauguration. South Korea possesses competitive production capabilities for high-tech vaccine manufacturing, but has conspicuously fallen behind in securing vaccines. The country should upgrade its scientific and technological cooperation with the U.S. to forge a

Dec 23, 2020By Park Jin

Korea, US should promote 'vaccine partnership'

Revitalizing ROK-US alliance: challenges and opportunities

By Park JinThe dramatic U.S. presidential election that captured global attention has virtually finished. Former Vice President Joe Biden declared victory after acquiring the majority number of the electoral college votes. President Donald Trump has refused to admit his defeat and the orderly process of power transition has yet to occur. When it officially begins, the new Biden era will bring significant changes to American democracy and the global community, especially Korea, Japan and China. President-elect Biden is expected to implement foreign policies, based on the recovery of U.S. global leadership, strengthening cooperation with allies instead of extolling an “America-first” agenda.As President-elect Biden correctly described in his first telephone talk with South Korean President Moon Jae-in, the ROK-U.S. alliance serves as a “linchpin” for security and prosperity of the Indo-Pacific region. Here are tasks for the ROK-U.S. alliance to be addressed by the new Biden administration and the Moon government. First, the ROK-U.S. alliance should counteract th

Nov 22, 2020By Park Jin

Park Jin