{"id":2203395,"date":"2024-01-11T08:00:00","date_gmt":"2024-01-10T23:00:00","guid":{"rendered":"https:\/\/koreapro.org\/?p=2203395"},"modified":"2024-08-20T14:47:08","modified_gmt":"2024-08-20T05:47:08","slug":"yoons-new-economic-security-adviser-appointment-emphasizes-trade-with-china","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/01\/yoons-new-economic-security-adviser-appointment-emphasizes-trade-with-china\/","title":{"rendered":"Yoon&#8217;s new economic security adviser appointment emphasizes trade with China"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean President Yoon Suk-yeol <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20240110006700315?section=national\/politics\"><span style=\"font-weight: 400;\">appointed<\/span><\/a><span style=\"font-weight: 400;\"> Wang Yun-jong as the third deputy national security adviser \u2014 a newly established position \u2014 and Yu Chul-hwan as the head of the Anti-Corruption and Civil Rights Commission. The reshuffle also included the replacement of one presidential secretary and the reassignment of four vice-ministerial positions. Wang, previously the presidential secretary for economic security, assumes the new position focusing on economic security and other \u201cemerging\u201d issues such as cyber and advanced technology.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The reshuffle extends to Kang In-sun, appointed as the second vice foreign minister, following her roles in international public relations and as a spokesperson for the foreign press. Within the Ministry of Industry, Kang Kyung-sung advances to first vice minister, Choe Nam-ho is named second vice minister and Cheong In-kyo is appointed as minister for trade.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Yoon\u2019s appointment of Wang Yun-jong as the third deputy national security adviser comes amid growing trade tensions between South Korea and China, exacerbated by U.S. trade policies such as the <\/span><a href=\"https:\/\/koreapro.org\/2023\/03\/why-south-korea-is-grumbling-about-new-us-chip-restrictions-on-china\/\"><span style=\"font-weight: 400;\">CHIPS and Science Act<\/span><\/a><span style=\"font-weight: 400;\"> and the <\/span><a href=\"https:\/\/koreapro.org\/2022\/08\/friends-without-benefits-how-a-new-us-law-penalizes-south-korean-carmakers\/\"><span style=\"font-weight: 400;\">Inflation Reduction Act<\/span><\/a><span style=\"font-weight: 400;\">. For instance, the U.S. outlined strict \u201c<\/span><a href=\"https:\/\/www.commerce.gov\/news\/press-releases\/2023\/09\/biden-harris-administration-announces-final-national-security\"><span style=\"font-weight: 400;\">guardrails<\/span><\/a><span style=\"font-weight: 400;\">\u201d for recipients of the U.S. CHIPS and Science Act funding, which states that beneficiaries must not materially expand their semiconductor manufacturing capacity in designated \u201cforeign countries of concern\u201d for 10 years from the award date. Wang\u2019s role will likely involve devising strategies to mitigate the impact of these U.S. policies on South Korea\u2019s semiconductor industry while Seoul focuses on <\/span><a href=\"https:\/\/koreapro.org\/2024\/01\/south-koreas-foreign-minister-nominee-eyes-balanced-diplomacy-amid-tensions\/\"><span style=\"font-weight: 400;\">building trust<\/span><\/a><span style=\"font-weight: 400;\"> with China.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wang is a renowned China expert, formerly a macro-financial analyst and the director of the SK China Economic Research Institute. Such experience will be crucial considering the <\/span><a href=\"https:\/\/koreapro.org\/2024\/01\/from-evs-to-rare-earths-south-koreas-biggest-economic-successes-of-2023\/\"><span style=\"font-weight: 400;\">waivers<\/span><\/a><span style=\"font-weight: 400;\"> the U.S. granted to Samsung and SK Hynix to supply their Chinese factories with chip equipment, and the retaliatory measures by China, including the <\/span><a href=\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\"><span style=\"font-weight: 400;\">export restrictions<\/span><\/a><span style=\"font-weight: 400;\"> of key raw materials. Wang\u2019s appointment signifies the pressure the Yoon administration is under to manage its foreign policy and economic security amid the intensifying U.S.-China tech rivalry and global semiconductor competition.<\/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\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korean President Yoon Suk-yeol appointed Wang Yun-jong as the third deputy national security adviser \u2014 a newly established position \u2014 and Yu Chul-hwan as the head of the Anti-Corruption and Civil Rights Commission. The reshuffle also included the replacement of one presidential secretary and the reassignment of four vice-ministerial positions. Wang, previously the presidential [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2203396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,27],"class_list":["post-2203395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-domestic-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yoon&#039;s new economic security adviser appointment emphasizes trade with China - 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\/2024\/01\/yoons-new-economic-security-adviser-appointment-emphasizes-trade-with-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yoon&#039;s new economic security adviser appointment emphasizes trade with China - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korean President Yoon Suk-yeol appointed Wang Yun-jong as the third deputy national security adviser \u2014 a newly established position \u2014 and Yu Chul-hwan as the head of the Anti-Corruption and Civil Rights Commission. 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