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Looking for New Trade Policies for Economic Security in the Era of Great Transformation

  • Date2022/01/21
  • Hit2448

Looking for New Trade Policies for Economic Security in the Era of Great Transformation 1

Looking for New Trade Policies for Economic Security in the Era of Great Transformation 2

Looking for New Trade Policies for Economic Security in the Era of Great Transformation 3

Looking for New Trade Policies for Economic Security in the Era of Great Transformation 4

The Korea Institute for International Economic Policy (KIEP) held a seminar on January 21 (Friday) at the Seoul Press Center, under the theme of “Great Transformation and Economic Security: Major Countries Economic Security Policies and Korea's Response.”

Due to the recent deepening of nation-centrism and intensifying strategic competition between the U.S. and China, the concept of economic security has gained importance as competition among countries intensifies. Korea also needs to establish policy directions and find key tasks to respond actively.

This seminar was meaningful in that it introduced and predicted the direction of new trade policies during the global paradigm and sought directions and tasks to respond to economic security issues by analyzing major countries' economic and security policies.

Co-hosted with the Seoul National University Institute for Japanese Studies, the seminar was held across two sessions, with various experts seeking economic and security policy directions. 

In a congratulatory speech, Ki-jung Kim, President of the Institute for National Security Strategy, stressed the necessity of economic security as Korea's future strategy in changing international politics.

In the first session, President Heungchong Kim of KIEP gave a presentation under the theme of “Economic Security in the Era of the Global Transformation.” Director Hyun-Chul Kim of the Institute for Japanese Studies then presented his views on how we should respond to economic security issues around the world.

President Heungchong Kim of KIEP defined the global transition as digital transformation, green transformation, and the retreat of globalization. President Kim also suggested the 4Cs of Creativity, Coexistence, Connectivity, and Coherence as the primary direction of new trade policy in this era of global transformation. In addition, digital trade, carbon neutrality, and U.S.-China strategic competition were mentioned as important new trade issues from the perspective of economic security.

In the first session, Director-General Jonghwa Lee for the Development Finance Bureau of MOEF, Director-General Miyon Lee for Bilateral Economic Affairs of MOFA and other participating experts comprehensively reviewed the strategies of the Korean government, where the paradigm of economic security is expanding from a focus on economic stability and securing resources (Security for the Economy) to security using the economy (Security by the Economy).

In the second session, President Yul Sohn of the East Asia Institute (EAI), Dr. Jaichul Heo of KIEP, and Dr. Wonho Yeon, Chair of the Economic Security TF Team of KIEP, presented the current status and prospects of economic security policies in Japan, China, and the United States, respectively.

- Title: Great Transformation and Economic Security: Major Countries Economic Security Policies and Korea's Response
- Date & Time: January 21st, 2022
- Venue: Seoul Press Center
- Host: Korea Institute for International Economic Policy (KIEP), Seoul National University Institute for Japanese Studies