Leading up to the official launch of the U.S.-led Indo-Pacific Economic Framework (IPEF) on May 23, many were surprised at the level of enthusiasm that South Korea showed, as it previously eschewed U.S.-led trade groups and networks.

South Korea’s Yoon Suk-yeol government apparently sees the IPEF as in the “national interest,” but the real appeal may be the ambiguity and toothlessness of the deal, which doesn’t force Seoul’s economic planners to commit to anything.

While the U.S. sees IPEF as a way to regain its footing in the regional economy after former President Donald Trump torpedoed the