U.S. President Joe Biden announced on Monday (Seoul time), that he will not seek reelection. In an official statement, Biden said he believes it is in the best interest of his party and the country to stand down and focus solely on fulfilling his presidential duties for the remainder of his term.

Biden cited his administration’s achievements, including economic growth, healthcare improvements and climate legislation. He plans to address the nation later in the week to provide more details about his decision. Biden endorsed U.S. Vice President Kamala Harris as the Democratic nominee for the upcoming presidential election, urging party unity to defeat former U.S. President Donald Trump.

WHY IT MATTERS

South Korean President Yoon Suk-yeol has cultivated a close relationship with Biden through multiple bilateral, trilateral and multilateral meetings. A potential Harris presidency would likely maintain policy continuity, particularly regarding the trilateral approach toward North Korea, as Harris has aligned with Biden’s traditional stance, unlike Trump’s personalized diplomacy with Kim Jong Un.

Harris and Yoon share a background as former prosecutors, which may facilitate rapport between the two leaders. Harris has endorsed Biden’s economic policies, including the Inflation Reduction Act and the CHIPS Act, and has supported the evolution of the U.S.-ROK alliance beyond mutual security to encompass economic and technological cooperation.

In their 2022 discussion, Harris and Yoon addressed China and Taiwan, with Harris emphasizing the importance of peace and stability across the Taiwan Strait for a free and open Indo-Pacific. Yoon has similarly linked potential Taiwan conflicts to the North Korean threat, viewing both as “global issues.” This alignment suggests continued cooperation on regional security matters under a potential Harris administration.