Moon eyes ASEAN over US, China's protectionism, isolationism

The Korea Times

The Korea Times

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Sun, December 10, 2023 | 08:55

Foreign Affairs

Moon eyes ASEAN over US, China's protectionism, isolationism

Posted : 2019-11-27 17:21

Updated : 2019-11-28 19:00

President Moon Jae-in speaks during the Association of South East Asian Nations-Republic of Korea Commemorative Summit conference at BEXCO in Busan, Tuesday. / Courtesy of Ministry of Foreign Affairs

By Jhoo Dong-chan

One of the key outcomes of the summit between President Moon and leaders of the ASEAN bloc was that they agreed to resist all forms of protectionism as a counter to the deepening trade friction between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.

In a joint press conference with Thai Prime Minister Prayut Chan-ocha, after closing the Busan summit, President Moon said he and the ASEAN leaders agreed to further boost "free trade" as a core measure to bring co-prosperity. Also, he made it clear that his administration won't support protectionism.

More precisely, China has yet to ease administrative regulations it applied to South Korean companies as an apparent retaliatory action after Seoul agreed to the deployment of a U.S. Terminal High Altitude Area Defense (THAAD) anti-missile system in the southern county of Sangju. Without providing clear reasons, Beijing imposed a unanimous travel ban on South Korea for group tours, hitting the country's tourism industry.

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President Moon's backing of free trade was also due to Washington's apparent pressure on Seoul over the issues of defense cost-sharing and the backing of the U.S. its Indo-Pacific Strategy.

Trump has said he wants South Korea to pay more than 5 trillion won next year to maintain U.S. troops here, which senior South Korean officials immediately refused to accept. Lawmakers and civic groups said the U.S. request was against "fair and mutually acceptable principles" and undermined the South Korea-United States security partnership.

In response to pressure from the world's two largest economies, Moon clarified that he will embrace ASEAN member nations as Seoul's new geopolitical partners.

Recognizing growing challenges coming from Washington and Beijing, South Korean firms have ridden on Moon's signature New Southern Policy.

During the two-day event, Hyundai Motor Group signed an MOU with Indonesian President Joko Widodo to invest $1.55 billion by 2030 to build a plant capable of assembling 250,000 vehicles a year in Deltamas industrial town in the city of Bekasi.

Seoul's approach to the region was also attributed to America's isolationist stance.

"It's still too early to say, but the Moon administration's New Southern Policy could develop into a collective security structure in the long run if the current awkward situation between the U.S. and China prolongs," a domestic expert said on condition of anonymity.

"Vietnam and the Philippines are experiencing a dispute over the South China Sea. The U.S. promised to provide patrols for them in the disputed area. This could be a start."

jhoo@koreatimes.co.kr