New South Korea president Yoon Suk-yeol faces foreign policy hurdles
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Yoon Suk-yel, South Korea’s president-elect has not been given a “honeymoon period,” according to Kathleen Stephens (president and CEO of Korea Economic Institute of America) and ex-ambassador of the United States to South Korea.
He said what he believed was right about Korea’s desire to play an even greater role on the international stage. Stephens expressed confidence that Stephens understood the sentiment across all party lines. “He’s meant to address the problems of North Korea’s economy and North Korea,” he said.
“But I think no one in Korea and … others around the world are under the illusion about how difficult this is going to be.”
Interview on CNBC’s “Street Signs AsiaStephens spoke out about what Yoon can expect as his leadership changes after Yoon’s Tuesday inauguration.
“He is starting the office with what he has.” [been a]He had a historically low approval rating even before taking office. She added that he won the election by less than 1 percent.
Stephens described Yoon as a “political newbie” and stated that the challenge of local politics is “big.”
“He’s facing local elections happening on June 1, where his rival in the presidential election is running for the National Assembly seat … [which]The other side is dominant.”
Lee Jae-myung was Yoon’s opposition from the Democratic Party. Lee was defeated by Yoon. 48.6% of the vote.
How to navigate a geopolitical flux
Stephens said that Yoon lacks either foreign or political policy experience.
He has been a lawyer and a prosecutor all his life. What he has done is recruit a team … many of them worked for previous conservative president Lee Myung-bak,” she added.
“I think what we will see is a tougher rhetorical line on North Korea … a more robust effort to have things like military exercises to demonstrate deterrence against North Korea, to build up South Korean military capacity, to make sure the U.S. Korea security alliance is very, very strong.”
Stephens stated that Yoon would be seeking out opportunities to “open up space for dialogue with North Korea”, something Stephens previously said was true of conservative presidents.
Yoon will also have to deal with a “fractious” relationship with China while growing closer towards the United States.
CNBC had previously spoken with Tom Rafferty as Asia region director of The Economist Intelligence Unit. signaled he would pursue closer relations with theUnited States. This could have a negative impact on Seoul’s relationship with China, South Korea’s biggest export market.
Stephens stated that Yoon has little room to maneuver, given his “geopolitical flux”, especially because he is not “tested” as a leader.
However, “But at the exact same time there’s a strong bipartisan-based approach which has worked well.” [South]Korea since a very long time.”
Biden and Yoon meet for the first time
U.S. President Joe BidenYoon will meet him for the first-time in South Korea on May 21. Stephens described that as a “very graceful and gracious sign”.
“The American president recognizes this, as does the Washington establishment. [South]Korea is a democracy…and that the alliance transcends, hopefully, partisan divisions,” she said.
“This is our first opportunity to really see how President Yoon works in an international setting.”
Biden had previously expressed urgencyThe Bipartisan Innovation Act was passed, which represents a multi-billion dollar investment into the U.S. semiconductor sector. Stephens stated that this makes Stephens’ meeting even more crucial. that South Korea is a critical global playerThe industry.
She said, “I believe that will be an essential element of their discussions about how the United States of America and South Korea can work together to secure technology, secure supply chain,”
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