South Korea’s incoming president Yoon Suk-yeol and foreign policy
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South Korea’s president-elect Yoon Suk Yeol, of the opposition People Power Party gestures at his supporters while he receives a congratulation outside the headquarters of the party in Seoul on March 10, 2022.
Jung Yeon-je | Afp | Getty Images
Analysts said that South Korea’s new president Yoon Suk-yeol will likely take a more conservative approach to foreign policy, which could impact relations between the United States and China.
According to Tom Rafferty (Asia regional director, The Economist Intelligence Unit), relations with North Korea and the U.S. will be particularly important.
Yoon indicated that he will seek closer relations with America. Karl Friedhoff of the Chicago Council on Global Affairs, a fellow in Asia policy and public opinion, suggested that this could be done by purchasing another THAAD missile defence system to counter North Korea.
Rafferty said that Seoul could be affected by a more friendly relationship with the U.S., as China is South Korea’s biggest export market.
Yoon might try to be more aggressive in dealing with China but Friedhoff is more likely. The economic implications would cause the president to be less tolerant, he said.
Friedhoff still spoke to CNBC. “Squawk Box Asia”He stated Wednesday that Yoon expects the “alliance management to be smoother under Yoon”, as opposed with Lee Jaemyung (opposing candidate) of The Democratic Party.
Are there economic tradeoffs?
Friedhoff stated that South Korea had historically supported democracy and social causes, but the country is now facing new economic challenges in order to maintain those positions.
According to him, Seoul could have been made vulnerable by Moscow’s retaliation through joining the international sanctions as a response to Russia’s invasion of Ukraine.
He said that the biggest challenge will be South Korea’s imports from Russia. “About 60% of these imports are crude oil or refined petroleum.”
Russia may try to punish South Korea by turning around [joining international sanctions]Friedhoff suggested that we should start to reduce some of these exports.”
Domestic issues
Darcie Dardt, postdoctoral fellow at George Washington University Institute for Korean Studies, stated that Yoon’s win was a sign of the nation being divided.
Yoon, the leader conservative opposition candidate claimed victory 48.6% of the voteLee was beaten by Lee by less that one percent point.
“There was only a tepid response.” [Yoon and Lee]Yoon and his fellow candidates were initially ineligible, so Yoon will have to work hard, Draudt explained to CNBC. “Street Signs Asia”On Thursday.
Gi-Wook Shin from Stanford University, who agreed with the statement, said that domestic politics would be filled in tensions and fighting over time.
Yoon, who was South Korea’s former top prosecutor before he became a political novice, has now been removed.
Shin stated that the combination of Shin and the opposition party controlling the legislature would make it difficult to tackle domestic problems. Rafferty of EIU predicted that the result would be similar. “Given liberal control, the legislature provides significant checks and balances to the president’s powers.”
Shin expressed hope that Yoon could unify Korean society. But, Shin also said he was skeptical of whether or not the conservative will succeed.
“He might get frustrated.” [that the opposition controls the National Assembly]Shin said that they may not be able work with them on Thursday.
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