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Economic Security in the Indo-Pacific Region: Domestic Political Dynamics of Key Countries and Korea’s Economic Security Strategy economic security, political economy

Author Jae Jeok Park, Wooyeal Paik, Jungkun Seo, Jaehyon Lee, Jaewoo Choo, Yoon Jung Choi, and Heesik Choi Series 23-01 Language Korean Date 2023.09.13

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As U.S.-China  geopolitical and geoeconomic competition  intensifies in the Indo-Pacific region, economic security has become an important issue. This study analyzes the Indo-Pacific strategies of key countries, particularly their economic security policies, focusing on domestic political factors. It also suggests considerations for Korea’s economic security strategy and policy in its bilateral relations with key countries and in the context of the Indo-Pacific region as a whole.

The study comprises ten chapters, including an introduction. Chapter 2 situates economic security in the context of the geopolitical and geoeconomic competition in the Indo-Pacific region and critically reviews existing studies on the concept and discourse of economic security. It then provides the theoretical context for the case studies that follow by discussing the interaction between domestic and international politics.

Chapters 3 through 7 are case studies. They examine the economic security policies of five countries facing different domestic political environments. All case studies are organized in the following order: (1) background and definition of the economic security discourse in Country X, (2) principles of economic security policy  of country X, (3) domestic political variables of country X that affect its economic security policy in the Indo-Pacific region, (4) two representative examples of how country X’s economic security policy has been influenced by domestic political variables, and (5) prediction of country X’s future economic security policy based on these domestic political factors. Chapter 8 examines China’s approach to the US-led  economic security in the Indo-Pacific.

Chapter 9 concludes the study by exploring the implications of the preceding discussions for Korea’s economic security strategy. The first part considers the bilateral dimension between Korea and country X, while the second part looks at the overall implications for Korea from an Indo-Pacific economic security perspective.

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