[Exclusive] Hanmi Strategic Forum Leaving the Presidential Office... Yoon's Economic Security Strategist Wang Yoonjong "Supply Chain Cooperation Essential"

-Korea-US Strategic Forum shifts agenda from 'military' to 'economic security'... Emphasizes 'supply chain' management at Presidential Office attendance

-Secretary Wang: "Supply chain management difficult due to export controls... Ultimately, cooperation with Korea-US and others is needed"

Wang Yunjong, Secretary for Economic Security, National Security Office / Presidential Office

[Asia Economy Reporter Baek Kyunghwan] Wang Yoonjong, the economic security secretary of the National Security Office and a key advisor on economic security to President Yoon Seok-yeol, plans to emphasize supply chain cooperation at the Korea-US Strategic Forum on the 6th. This is the first occasion to explore concrete cooperation measures following the emphasis on supply chain cooperation by the two heads of state at last month's Korea-US summit. The Korea-US Strategic Forum is a high-level annual dialogue channel involving policymakers and government and academic officials from both countries in major fields such as politics, diplomacy, security, defense, and economic trade. It is unusual for the Presidential Office to participate directly, and the addition of economic security as an agenda item indicates the expanded scope of issues between Korea and the US.

According to a summary of Asia Economy's coverage on the 3rd, Secretary Wang will attend the '2022 Korea-US Strategic Forum' held on the morning of the 6th (local time) via an online video conference from Washington DC, USA, and deliver a keynote speech on the significance of the Korea-US summit and economic security. In a phone interview with this publication, Secretary Wang said, "I will propose topics for discussion including the necessity of supply chain management discussed at the Korea-US summit and the difficulties in managing supply chains in the global market due to export controls," adding, "Ultimately, I will emphasize the need for cooperation among Korea, the US, and other major countries."

Secretary Wang views supply chains as a manageable domain. He stated, "Supply chain market shocks are occurring in a complex manner due to disruptions in logistics systems affecting production and geopolitical crises caused by the Russia-Ukraine conflict," and added, "It is an important era where the nation must manage supply chains and build capabilities at the national level to prevent disruptions to citizens' daily lives, such as food supply."

He indicated that the current supply chain crisis should not be left solely to companies but addressed at the national level. Through his keynote speech, he plans to emphasize the necessity of alliances to establish a stable procurement system within the tightly intertwined supply chain network. Secretary Wang said, "A kind of alliance system for supply chains is necessary," and added, "This is the emerging discussion and the core of economic security."

The Korea-US Strategic Forum is a 1.5-track annual meeting involving key policy officials from both countries. It is a venue where experts from both sides discuss government policy directions and mutual cooperation methods. Until now, the main agenda focused on Korea-US cooperation on North Korean issues such as denuclearization and peace settlement on the Korean Peninsula. However, this year, the core agenda shifted from military to economic security. Economic security has been the top domestic and international economic management issue consistently emphasized by President Yoon since his inauguration and emerged as a key agenda at the recent Korea-US summit.

Additionally, the forum plans a session to reassess the significance of the Korea-US summit. Former US Ambassador to Korea Mark Lippert, Robert Rapson, former Deputy Chief of Mission at the US Embassy and known as a Korea expert in the US, and former Foreign Minister Yoon Young-kwan will participate. Attention will also be given to a session where Korean and American officials discuss Korea-Japan relations. With the launch of the Yoon administration, the direction of newly established Korea-Japan relations and possible cooperation methods with the US will be on the agenda. Sheila Smith, a researcher who handled Japan at the Council on Foreign Relations (CFR), plans to evaluate the US government's efforts and policies to resolve Korea-Japan conflicts.

This content was produced with the assistance of AI translation services.