Experts: "Establishment of Korea-US-Japan Economic Security Dialogue... Alliance-Centered Global Supply Chain Changes"

Strengthening Cooperation... Pressure Message to China
Change in South Korea's 'Anmi Gyeongjung' Stance
China's Deterrence Against Taiwan Military Action
Concerns Over Acceleration of New Cold War

President Yoon Suk-yeol is speaking at the Korea-US-Japan summit held at a hotel in Phnom Penh, Cambodia, on the 13th (local time). [Image source=Yonhap News]

[Asia Economy reporters Inho Yoo and Heejun Jang] The joint statement released by the leaders of South Korea, the United States, and Japan on the 13th (local time) after their trilateral summit in Phnom Penh, Cambodia, is being evaluated as containing strong measures to counter North Korea's nuclear and missile threats while expressing a more open stance of containment toward China and Russia.

In particular, it is analyzed as formalizing trilateral cooperation across all areas as a core country in the Indo-Pacific strategy. The statement is said to contain a message aimed at strengthening cooperation in other fields such as economic security through the shared security link of North Korea's nuclear and missile threats and strongly pressuring China.

Experts focused on the significance of the newly established 'Economic Security Dialogue' even within discussions based on security cooperation. The South Korea-U.S.-Japan leaders explicitly mentioned semiconductors, supply chains, data, critical minerals, and artificial intelligence in the statement, stating, "The three countries will unite to enhance technological leadership for regional and global interests."

Professor Tae-yoon Sung of Yonsei University's Department of Economics said, "Given that global supply chains and economic networks are shifting toward alliance-centered structures, the establishment of the 'Economic Security Dialogue' is a meaningful point," adding, "It is significant that South Korea, which must strengthen networks and fundamental cooperation that emphasize free market economies, explicitly expressed this."

(From left) Sung Tae-yoon, Professor of Economics at Yonsei University, Yang Moo-jin, President of the University of North Korean Studies, Jung Young-tae, Distinguished Professor at Dongyang University, Kim Yong-hyun, Professor of North Korean Studies at Dongguk University

Above all, the fact that the newly established Economic Security Dialogue is aimed at China is interpreted as a change from South Korea's previous stance of 'Anmi-Gyeongjung' (security with the U.S., economy with China).

Furthermore, experts also paid attention to the mention of the trilateral shared perception of China and Russia. The South Korea-U.S.-Japan leaders stated, "We reaffirm the importance of maintaining peace and stability in the Taiwan Strait as an essential element for international security and prosperity." This is a joint voice with the U.S. and Japan on the Taiwan issue, which China is extremely wary of.

With Chinese President Xi Jinping repeatedly expressing his determination to unify Taiwan, the three countries appear to be aiming to deter China's use of force. Regarding Russia, they directly criticized by stating, "We confirm our commitment to stand with Ukraine against Russia's brutal and unjustifiable invasion war that shakes the foundation of the international order."

Yang Moo-jin, president of the University of North Korean Studies, said, "Through the South Korea-U.S.-Japan summit, trilateral cooperation is becoming stronger," adding, "Criticizing Russia's war in Ukraine and directly mentioning China's South China Sea issues go beyond previous positions."

President Yoon Suk-yeol is taking a commemorative photo with U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida at the trilateral summit held at a hotel in Phnom Penh, Cambodia, on the 13th (local time). [Image source=Yonhap News]

The agreement to strengthen extended deterrence including nuclear capabilities and to share North Korean missile warning information collected by the three countries in real time is also evaluated as significant. President Yang said, "The trilateral pressure cooperation through this meeting will act as a burden on China," predicting, "China is likely to unofficially induce North Korea to refrain from a seventh nuclear test."

Professor Young-tae Jung, distinguished professor at Dongyang University, said, "President Yoon's announcement of the 'Korean version of the Indo-Pacific strategy' before the summit signifies a move away from the previous administration's ambiguity strategy toward a more proactive role," adding, "It is meaningful that a consensus was formed on the need to improve GSOMIA and the Inflation Reduction Act (IRA) based on security cooperation."

However, some voices express concerns about the acceleration of a new Cold War system due to strengthened South Korea-U.S.-Japan cooperation.

Professor Yong-hyun Kim of Dongguk University said, "While strengthening the ROK-U.S. alliance based on security is desirable, cooperation with China is also essential in terms of North Korea issues and economic aspects," advising, "Rather than solidifying conflict by leaning toward one camp, diplomatic flexibility should be maintained while prioritizing national interests."

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