PART 01 [SDF2023] Research Findings1: A Shifting Global Order: From an Age of Globalization to the Age of Economic Security 2023.11.02 All Videos

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PARK Jong hee Institute for Future Strategy, Economic Security Cluster, Data Analysis Team Leader, Professor of Political Science and International Relations, Seoul National University

#grandquest #economicsecurity #regulatoryreform

Economic security has become an important keyword in international politics, influencing not only economic relations between countries but also security and diplomatic relations. A key concept in economic security is supply chain dominance. Supply chain dominance can be defined as (1) the ability of a country to control or influence global supply chains on the back of the dominant position of its exporting companies or exported products and (2) the ability of a country to protect its economy from disruptions in global supply chains. From an overall cross-industry supply chain dominance standpoint, Korea is in a greatly vulnerable position. In new industry competition, on the other hand, Korea has decidedly competitive exporting power. If the current rivalry between the United States and China for new industries and new technologies continues, Korea is well-positioned to play a significant role - one that is proactive and through which we exercise our agency - within such dynamics. Korea is no longer playing catch up but has come into its own as a major economic power. What must change if we are to ensure our economic security through a soft power befitting our hard power and play a leading role in shaping this new era?

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