Korea's Reliance on US for Security, China for Economy 'Lost Validity,' Says President Lee

South Korean President Lee Jae Myung has declared that the long-standing foreign policy framework of balancing economic ties with China and security dependence on the United States has become obsolete. During a state visit to Italy, Lee articulated a new approach centered on South Korea's national interests in a rapidly evolving geopolitical landscape.

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The basic framework of Korea’s foreign policy has been to rely on China for economic matters and on the US for our security. But given recent changes in the geopolitical environment, I believe that that binary approach has lost its validity.

"The basic framework of Korea’s foreign policy has been to rely on China for economic matters and on the US for our security. But given recent changes in the geopolitical environment, I believe that that binary approach has lost its validity," Lee stated in an interview with Italian newspaper Corriere della Sera. He outlined his intention to "chart a new course based on Korea’s national interests and informed by a nuanced understanding of multiple factors, including cooperation, competition, and emerging challenges," rather than attempting to maintain a delicate balance between the two global powers.

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Rather than attempting to maintain balance between the US and China, I intend to chart a new course based on Korea’s national interests and informed by a nuanced understanding of multiple factors, including cooperation, competition, and emerging challenges.

Lee acknowledged China's significance as South Korea's largest trading partner and a crucial player in supply chains. However, he also pointed to intensifying competition driven by China's growing industrial and technological prowess. Conversely, he suggested that deepening economic cooperation with the US in cutting-edge fields would enhance South Korea's industrial competitiveness and economic development.

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China is Korea’s biggest trading partner and an essential partner in supply chains. But from another perspective, it’s also true that competition has intensified between our two countries, and that’s because Chinese industry has grown more competitive and technologically advanced.

While reaffirming the alliance with the United States as the "cornerstone of Korea’s foreign policy," President Lee stressed that South Korea aims to be a capable partner, not merely a dependent ally. He emphasized the pursuit of a strategy that bolsters the nation's own defense capabilities and strengthens ties with a diverse range of countries. This includes the government's goal to recover wartime operational control (OPCON) over its armed forces and increase defense spending, with the aim of completing the OPCON handover by 2027. Lee believes this approach aligns with the evolving expectations of the US for the alliance.

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While our alliance with the US remains the cornerstone of Korea’s foreign policy, we’re pursuing a strategy of bolstering our own capabilities and strengthening ties with a variety of countries as we develop and expand the US alliance according to the needs of our era.