ADRN

Lecture 5

East Asia Institute (EAI) and Korea Foundation co-hosted on the KF-EAI Korea Friendship event, a series of educational and networking program, for international students residing in South Korea. There are 7 consecutive lectures on Korea and 1 field trip on Korean history.

Nam Chung Mo, the CEO of Sejung Customs Service Inc., gave a lecture on the prospect of Korean economy in the midst of Trump administration’s withdrawal from TPP and desire to renegotiate NAFTA and ROK-US alliance terms. The U.S. government has questioned the bilateral partnership with South Korea.

In addition, the United Kingdom’s Brexit referendum held in last year and the declaration to withdraw from the Paris Climate Accord reflect that ideologies of isolationism, nationalism and protectionism are gaining traction. The lecturer suggested that the U.S. financial crisis in 2008 and the recent European financial crisis are products of the ideologies.

Therefore, Moon Jae-in administration needs to swiftly respond with export-oriented strategies to the rise of protectionism in certain countries, especially in the export-oriented industries in which South Korean conglomerates have been heavily depended on. In addition, he emphasized that Moon Jae-in administration should help South Korean companies in new industries to be progressing in line with the onset of the Fourth Industrial Revolution. The lecturer talked in depth about KORUS free trade agreement and how it is beneficial for South Korea and America.