Senior Economic Dialogue (SED) talks begin between US, South Korea
US Under Secretary for Economic Growth, Energy and the Environment, Jose Hernandez, will host the Eighth Senior Economic Dialogue (SED) in South Korea today.
This round of discussions follows the reaffirmation of Lee Do-hoon, Seoul’s second Vice Foreign Minister and Hernandez to continue their discussions on the impacts of the US Inflation Reduction Act (IRA). More broadly, the trip will underscore continued bilateral trade and economic partnership between Korea and the US, focusing on areas like critical minerals, semiconductors, and energy security.
These talks come shortly after China and North Korea met earlier last week to strengthen their tactical cooperation and defend common interests. North Korea has bolstered ties with Russia and China as it begins to ramp development of tactical and strategic weapons.
The US and South Korea are likely to continue to firm their economic and strategic ties in the short-term, whilst looking to engage support from nearby allies (e.g., Vietnam, Philippines) in response to similar actions by China, DKPR, and Russia. In the medium-to-long term, the US and South Korea may look to establish a NATO-like alliance that would encompass effective economic and strategic governance in the region that could effectively counter China, Russia, and North Korea’s movements as tensions continue to flare.
