{"id":2202524,"date":"2023-10-20T08:00:14","date_gmt":"2023-10-19T23:00:14","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202524"},"modified":"2023-10-19T16:54:19","modified_gmt":"2023-10-19T07:54:19","slug":"yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/","title":{"rendered":"Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean President Yoon Suk-yeol is scheduled for <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20231019006900315?section=national\/diplomacy\"><span style=\"font-weight: 400;\">state visits<\/span><\/a><span style=\"font-weight: 400;\"> to Saudi Arabia and Qatar from Oct. 21 to Oct. 26, during which he plans to discuss the security situation pertaining to the ongoing <\/span><a href=\"https:\/\/koreapro.org\/2023\/10\/south-korea-responds-to-israel-hamas-conflict-with-caution\/\"><span style=\"font-weight: 400;\">conflict between Israel and Hamas<\/span><\/a><span style=\"font-weight: 400;\">. Kim Tae-hyo, the first deputy director of the National Security Office expressed the government\u2019s deep concern over the surge in civilian casualties and conveyed its readiness to actively support refugee-related issues as necessary. The official highlighted the significant roles both Saudi Arabia and Qatar have played in regional security and mediation, indicating that Yoon\u2019s discussions will seek cooperative measures to enhance South Korea\u2019s security through his Middle East diplomatic tour.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The presidential office <\/span><a href=\"https:\/\/biz.chosun.com\/policy\/politics\/2023\/10\/19\/UE6723QZZNDORE3L777L2575S4\/?outputType=amp\"><span style=\"font-weight: 400;\">clarified<\/span><\/a><span style=\"font-weight: 400;\"> that the upcoming summit with Saudi Arabia would not involve discussions about the <\/span><a href=\"https:\/\/koreapro.org\/2023\/06\/how-busan-hopes-to-overcome-riyadhs-bid-for-the-world-expo-2030\/\"><span style=\"font-weight: 400;\">2030 World Expo<\/span><\/a><span style=\"font-weight: 400;\">, for which Riyadh and Busan are competing host cities. Instead, both nations anticipate a competition rooted in mutual respect and goodwill, committing to graciously accept the final decision due at the end of November.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">South Korea\u2019s economic landscape faces multiple challenges, with the Bank of Korea <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20231018009152320?section=economy-finance\/economy\"><span style=\"font-weight: 400;\">maintaining a 3.5% policy rate<\/span><\/a><span style=\"font-weight: 400;\"> amid domestic financial pressures and global uncertainties, including those stemming from the Israel-Hamas conflict and volatile oil prices. These challenges are compounded by <\/span><a href=\"https:\/\/koreapro.org\/2023\/10\/south-korea-faces-economic-inflection-point-as-debt-and-monetary-challenges-loom\/\"><span style=\"font-weight: 400;\">highly indebted households<\/span><\/a><span style=\"font-weight: 400;\">, creating a delicate balance for the economy, especially with the added variable of <\/span><a href=\"https:\/\/koreapro.org\/2023\/03\/south-koreas-trade-with-china-goes-from-record-surplus-to-record-deficit\/\"><span style=\"font-weight: 400;\">slowing growth in China<\/span><\/a><span style=\"font-weight: 400;\">. The <\/span><a href=\"https:\/\/koreapro.org\/2023\/10\/navigating-south-koreas-export-decline-opportunities-amid-economic-pressures\/\"><span style=\"font-weight: 400;\">stagnation in export growth<\/span><\/a><span style=\"font-weight: 400;\"> underscores the importance of stable international relations and economic policies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yoon\u2019s diplomatic visit to the Middle East, particularly Saudi Arabia, is pivotal given South Korea\u2019s significant involvement in <\/span><a href=\"https:\/\/www.koreaherald.com\/view.php?ud=20231003000130\"><span style=\"font-weight: 400;\">regional infrastructure projects<\/span><\/a><span style=\"font-weight: 400;\">. Stability in the Middle East directly affects South Korea\u2019s economic interests and uncertainties could pose risks to ongoing and future investments. This visit is a strategic move to safeguard South Korean interests by potentially mitigating geopolitical risks in the Middle East, emphasizing the necessity of stable environments for international projects and investments amid global and domestic economic complexities.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korean President Yoon Suk-yeol is scheduled for state visits to Saudi Arabia and Qatar from Oct. 21 to Oct. 26, during which he plans to discuss the security situation pertaining to the ongoing conflict between Israel and Hamas. Kim Tae-hyo, the first deputy director of the National Security Office expressed the government\u2019s deep concern [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2202525,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2202524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korean President Yoon Suk-yeol is scheduled for state visits to Saudi Arabia and Qatar from Oct. 21 to Oct. 26, during which he plans to discuss the security situation pertaining to the ongoing conflict between Israel and Hamas. Kim Tae-hyo, the first deputy director of the National Security Office expressed the government\u2019s deep concern [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-19T23:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-19T07:54:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/10\/eb-15.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles\",\"datePublished\":\"2023-10-19T23:00:14+00:00\",\"dateModified\":\"2023-10-19T07:54:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\"},\"wordCount\":335,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/10\/eb-15.png\",\"keywords\":[\"Business &amp; Economy\",\"Inter-Korean &amp; Foreign Relations\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\",\"url\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\",\"name\":\"Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/10\/eb-15.png\",\"datePublished\":\"2023-10-19T23:00:14+00:00\",\"dateModified\":\"2023-10-19T07:54:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/10\/eb-15.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/10\/eb-15.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/10\/yoon-eyes-middle-east-stability-to-navigate-south-koreas-economic-hurdles\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Yoon eyes Middle East stability to navigate South Korea\u2019s economic hurdles\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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