By Kim Sang-woo
The first summit between President Yoon Suk-yeol and President Joe Biden went unbelievably well.
For alliance managers, the first meeting is all about establishing personal rapport between the two leaders. Apart from their love of dogs and cats, they also are passionate believers in liberal democracy and everything it represents.
In particular, Presidents Yoon and Biden place the core of the alliance on universal values, such as liberal democracy and human rights, calling for the solidarity of democracies against authoritarian dictatorships. President Biden said a vibrant democracy is the driver of global innovations, and President Yoon responded by saying that the high-tech industry can flourish only in a free democracy.
South Korea and the United States agreed Friday to launch a dialogue channel between their presidential offices to coordinate policy on cutting-edge technologies and supply chains just hours before Biden's arrival.
The launch of the new dialogue channel demonstrates the two sides' commitment to closely coordinate policy and jointly respond to key issues affecting their "technology alliance," including semiconductors, batteries, artificial intelligence and the establishment of a supply chain.
The two leaders' message for a deeper engagement on economic and technological matters started upon Biden's arrival Friday. His three day trip to South Korea began with the tour, together with Yoon, of Samsung Electronics key semiconductor facility in Pyeongtaek, 70 kilometers south of Seoul.
The main theme of the first summit between the two presidents was the expansion of the countries' military alliance to a "Global Comprehensive Strategic Alliance: Beyond the Korean Peninsula," covering everything from semiconductors, batteries, climate change, the COVID-19 pandemic to a united front against Russia's invasion of Ukraine.
South Korean officials also hope that the summit will be the first step toward the country's emergence as a global pivotal state, a vision that sees South Korea playing an active role in addressing regional and global challenges.
"We achieved a South Korea-U.S. alliance that contributes not only to the Indo-Pacific region but to global security and prosperity through universal values, such as freedom and human rights," Kim Sung-han, the presidential National Security Office director told reporters.
The summit also addressed the two countries' push to strengthen cooperation on economic security with a focus on establishing stable supply chains in semiconductors, batteries and other critical materials.
The announcement to join the Indo-Pacific Economic Framework (IPEF) is expected to help South Korea lead global discussions on critical sectors, such as the digital economy, carbon neutrality and clean energy.
South Korea will invite other countries to join the initiative and realize its national interest through the IPEF.
The leaders announced agreements on nuclear energy cooperation at the summit. They agreed to pursue cooperation in joint developments of small modular reactors (SMRs) and resume meetings of their High Level Bilateral Commission (HLBC), a consultative body on strategic nuclear energy cooperation.
The two sides announced an agreement to pursue joint nuclear reactor export projects in the global market.
The joint statement also notes that Biden and Yoon recognized the "growing potential for South Korea-U.S. cooperation in the defense industry and agreed to "strengthen partnerships in areas such as the defense sector supply chain, joint development and manufacturing, including beginning discussions on a Reciprocal Defense Procurement agreement."
"Things are changing so rapidly," Biden said. "I think you're seeing that ― what you're going to see more of is the competition between democracies and autocracies."
Liu Xiaoming, the Chinese envoy for Korean affairs tweeted that the U.S. "should join efforts to foster an open and inclusive 'circle of friends' in Asia-Pacific instead of putting together a closed and exclusive 'clique'." He added, "It should do more to contribute to peace and development in the Asia-Pacific instead of creating turbulence and chaos in the region."
"The Indo-Pacific region is crucial both for South Korea and the U.S.," President Yoon said in a joint press conference following his summit with Biden. "The two countries will work together to build a rules-based new order in the region, and the first step is for the two countries to work together to develop the Indo-Pacific Economic Framework (IPEF)."
"There is a pandemic induced paradigm shift in the global trade environment, with the focus moving to resilience and away from effectiveness," the Ministry of Trade, Industry and Energy said in a statement, adding that the focus has expanded beyond market access and tariff cuts.
South Korea's joining of the IPEF is expected to diversify its "trade partners and reduce trade and economic dependence on a few particular countries."
Last year, South Korea's logistic industry almost came to a halt amid a chronic shortage of urea solution, used to cut diesel car emissions, following China's export curbs.
The ongoing chip shortage, which has hurt the production of cars and consumer appliances around the world, seems to support the idea of Biden's new supply chain initiative.
Washington has doubled down on its efforts to address the global supply crunch of key materials since last year and to counter China's growing influence on the global tech industry.
Nevertheless, aligning with the U.S. for the regional supply chain network and security assurances could run the risk of provoking Beijing to mount retaliatory acts against South Korea and its companies.
Seoul's participation in IPEF could mark a departure from its foreign policy of so-called "strategic ambiguity," balancing between security ally Washington and its biggest trade partner, Beijing.
"We need to wake up from the wishful thinking that we can enjoy the benefits from both countries," said James Kim, chairman of the American Chamber of Commerce in Seoul.
Are we at a turning point in history? Or are we according to the historian A.J.P Taylor: "at a turning point in history where history failed to turn."
Kim Sang-woo (swkim54@hotmail.com) is a former lawmaker and is currently chairman of the East Asia Cultural Project. He is also a member of the board of directors at the Kim Dae-jung Peace Foundation.
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For alliance managers, the first meeting is all about establishing personal rapport between the two leaders. Apart from their love of dogs and cats, they also are passionate believers in liberal democracy and everything it represents.
In particular, Presidents Yoon and Biden place the core of the alliance on universal values, such as liberal democracy and human rights, calling for the solidarity of democracies against authoritarian dictatorships. President Biden said a vibrant democracy is the driver of global innovations, and President Yoon responded by saying that the high-tech industry can flourish only in a free democracy.
South Korea and the United States agreed Friday to launch a dialogue channel between their presidential offices to coordinate policy on cutting-edge technologies and supply chains just hours before Biden's arrival.
The launch of the new dialogue channel demonstrates the two sides' commitment to closely coordinate policy and jointly respond to key issues affecting their "technology alliance," including semiconductors, batteries, artificial intelligence and the establishment of a supply chain.
The two leaders' message for a deeper engagement on economic and technological matters started upon Biden's arrival Friday. His three day trip to South Korea began with the tour, together with Yoon, of Samsung Electronics key semiconductor facility in Pyeongtaek, 70 kilometers south of Seoul.
The main theme of the first summit between the two presidents was the expansion of the countries' military alliance to a "Global Comprehensive Strategic Alliance: Beyond the Korean Peninsula," covering everything from semiconductors, batteries, climate change, the COVID-19 pandemic to a united front against Russia's invasion of Ukraine.
South Korean officials also hope that the summit will be the first step toward the country's emergence as a global pivotal state, a vision that sees South Korea playing an active role in addressing regional and global challenges.
"We achieved a South Korea-U.S. alliance that contributes not only to the Indo-Pacific region but to global security and prosperity through universal values, such as freedom and human rights," Kim Sung-han, the presidential National Security Office director told reporters.
The summit also addressed the two countries' push to strengthen cooperation on economic security with a focus on establishing stable supply chains in semiconductors, batteries and other critical materials.
The announcement to join the Indo-Pacific Economic Framework (IPEF) is expected to help South Korea lead global discussions on critical sectors, such as the digital economy, carbon neutrality and clean energy.
South Korea will invite other countries to join the initiative and realize its national interest through the IPEF.
The leaders announced agreements on nuclear energy cooperation at the summit. They agreed to pursue cooperation in joint developments of small modular reactors (SMRs) and resume meetings of their High Level Bilateral Commission (HLBC), a consultative body on strategic nuclear energy cooperation.
The two sides announced an agreement to pursue joint nuclear reactor export projects in the global market.
The joint statement also notes that Biden and Yoon recognized the "growing potential for South Korea-U.S. cooperation in the defense industry and agreed to "strengthen partnerships in areas such as the defense sector supply chain, joint development and manufacturing, including beginning discussions on a Reciprocal Defense Procurement agreement."
"Things are changing so rapidly," Biden said. "I think you're seeing that ― what you're going to see more of is the competition between democracies and autocracies."
Liu Xiaoming, the Chinese envoy for Korean affairs tweeted that the U.S. "should join efforts to foster an open and inclusive 'circle of friends' in Asia-Pacific instead of putting together a closed and exclusive 'clique'." He added, "It should do more to contribute to peace and development in the Asia-Pacific instead of creating turbulence and chaos in the region."
"The Indo-Pacific region is crucial both for South Korea and the U.S.," President Yoon said in a joint press conference following his summit with Biden. "The two countries will work together to build a rules-based new order in the region, and the first step is for the two countries to work together to develop the Indo-Pacific Economic Framework (IPEF)."
"There is a pandemic induced paradigm shift in the global trade environment, with the focus moving to resilience and away from effectiveness," the Ministry of Trade, Industry and Energy said in a statement, adding that the focus has expanded beyond market access and tariff cuts.
South Korea's joining of the IPEF is expected to diversify its "trade partners and reduce trade and economic dependence on a few particular countries."
Last year, South Korea's logistic industry almost came to a halt amid a chronic shortage of urea solution, used to cut diesel car emissions, following China's export curbs.
The ongoing chip shortage, which has hurt the production of cars and consumer appliances around the world, seems to support the idea of Biden's new supply chain initiative.
Washington has doubled down on its efforts to address the global supply crunch of key materials since last year and to counter China's growing influence on the global tech industry.
Nevertheless, aligning with the U.S. for the regional supply chain network and security assurances could run the risk of provoking Beijing to mount retaliatory acts against South Korea and its companies.
Seoul's participation in IPEF could mark a departure from its foreign policy of so-called "strategic ambiguity," balancing between security ally Washington and its biggest trade partner, Beijing.
"We need to wake up from the wishful thinking that we can enjoy the benefits from both countries," said James Kim, chairman of the American Chamber of Commerce in Seoul.
Are we at a turning point in history? Or are we according to the historian A.J.P Taylor: "at a turning point in history where history failed to turn."
Kim Sang-woo (swkim54@hotmail.com) is a former lawmaker and is currently chairman of the East Asia Cultural Project. He is also a member of the board of directors at the Kim Dae-jung Peace Foundation.
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