Following the recent U.S.-ROK summit, South Korea confirmed what many had anticipated: New President Yoon Suk-yeol is scrapping his predecessor’s signature New Southern Policy (NSP) focused on engaging Southeast Asia and India.

The two countries’ joint statement formally announced that the Yoon administration will move ahead with formulating its own “Indo-Pacific strategy framework,” which would complement the U.S. blueprint for the region.

While details are still in short supply, it’s likely that South Korea’s new strategy will repackage elements of Moon Jae-in’s NSP. But the Yoon administration’s approach appears aimed at reenvisioning cooperation with Southeast Asia and India within the context of closer U.S.-South Korea ties. 

While this provides Seoul with an opportunity to reconceive its role in the region, it will be important for South Korea to make sure its ASEAN partners are on board if the two sides are going to continue strengthening economic and diplomatic ties.

U.S. President Joe Biden and Yoon at a press conference after their summit talks in Seoul on May 21, 2022 | Image: South Korean Presidential Office

INDO-PACIFIC FRAMEWORKS

The overall objectives of South Korea’s Indo-Pacific strategy are not necessarily new compared with the Moon administration’s NSP, which had an overarching focus on economic cooperation. In fact, the initial push for launching the NSP in Nov. 2017 was Beijing’s economic retaliation against South Korea for deploying a U.S.-made THAAD missile interceptor system, as Seoul sought to reduce its economic dependence on China.

The Yoon administration’s new Indo-Pacific strategy also has strong economic implications. The U.S.-South Korea joint statement emphasized economic security, sealing South Korea’s participation in the U.S.-led Indo-Pacific Economic