"Amid Intensifying US-China Conflict, Ukraine Reconstruction Presents New Opportunity for Korea"

Intensifying US-China Trade Conflict
Expanding Possibilities for Korea-EU Cooperation
Postwar Reconstruction in Ukraine
New Economic Opportunities for Korea
Defense, Energy, Nuclear Power, Smart Infrastructure
Korean Companies Expected to Play a Key Role

Amid escalating tensions between the US and China, an analysis has emerged suggesting that the European market, including Ukraine, could serve as a breakthrough for the South Korean economy.

The Korea Economic Research Institute (KERI), under the Korea Economic Association, held a global business roundtable on the 20th at the FKI Tower Conference Center in Yeouido, Seoul, together with the Korea-Europe think tank 'KEY' (Korea-Europe＆You), under the theme "Trump's Second Term: Opportunities and Risks for Korea-Europe."

Shin Won-kyu, a visiting researcher at KERI, stated, "If the US imposes tariffs on China and this leads to Chinese retaliation, the European Union (EU) is likely to reduce trade with both the US and China and expand trade with Korea," predicting increased cooperation between Korea and the EU.

He particularly analyzed that the end of the war in Ukraine, combined with the Trump administration's policy of reducing aid projects, could provide new opportunities.

The Korea Economic Research Institute and the Korea-Europe think tank 'KEY (Korea-Europe & You)' held a global business roundtable on the 20th at the FKI Tower Conference Center under the theme "Prospects for Opportunities and Risks between Korea and Europe." Korea Economic Association

Shin said, "The United States Agency for International Development (USAID) had been spending over $40 billion annually but was recently closed. International development aid was no exception to the policy of putting one's own country first," adding, "As reconstruction efforts in Ukraine gain momentum, economic cooperation between Korea and the EU could attract more attention."

He continued, "Korea can play a significant role in meeting Ukraine's development needs in defense, energy, nuclear power, smart infrastructure, and construction sectors," and added, "Our companies, which have experience in rapid growth and post-war recovery, can expect synergistic effects through support from neighboring Eastern European countries and triangular cooperative partnerships."

He also forecasted that global public-private cooperation using the EU infrastructure project 'Global Gateway' and Korea's Economic Development Cooperation Fund (EDCF) in the form of impact funds would be promising.

Kang Yoo-duk, director of the EU Research Institute at Hankuk University of Foreign Studies, said, "Europe will strengthen cooperation with Korea to secure industrial capabilities and enhance defense power," and predicted, "Korea's exports to Europe are likely to increase, and requests for cooperation from Europe will also expand." However, he assessed, "Since Europe aims to independently expand semiconductor and battery production, Korea's position may be short-term."

Park Young-sook, president of the communication consulting firm FleishmanHillard Korea, advised that it is time for Korean companies to seek new opportunities in Europe, moving away from dependence on the US and China.

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