South Korea has become an economic force in the Indo-Pacific region, exporting its goods to Asia and the world at G20-level volumes and thereby fueling the country’s growth over the past half-century. It has been a beneficiary of globalization and a vocal proponent for it on the global stage.

However, the COVID-19 pandemic pushed to the surface many issues related to international trade, converging geopolitics and economics in a way not seen before. A rising China, U.S.-China decoupling, the weaponization of tariffs and other trade restrictions as well as the spread of illiberalism all challenge the institutions that make South Korea a rich, prosperous country.