Global Agenda Council on Korea 2012-2014
Building on its success in achieving remarkable growth over past decades, South Korea is seeking to maintain its economic vibrancy and competitive edge. While the country has gained worldwide recognition for its talent and innovation in manufacturing, it faces potential challenges in the diversification of sectors and in identifying new momentum for growth. The change in leadership draws global attention to South Korea’s position in its engagement with North Korea and its relationship with other countries. The World Economic Forum’s Global Competitiveness Report 2012-2013 ranked South Korea 19th, a significant improvement over previous years; yet it also noted ongoing weaknesses in its institutions, labour-market efficiency and financial-market development.
What the Council is doing about it
The Global Agenda Council on Korea has thus far focused on addressing key challenges surrounding geopolitical issues, the country’s continued economic development, and its relationship with Japan and China. In the first 12 months, the Council convened a series of discussions to structure a concrete framework to establish an internal advisory board on North Korea. The purpose of the advisory board is to facilitate dialogue and to rebuild trust between North Korea and those with an interest in engaging with the country. Council Members identified key voices that should be incorporated into the effort, and maintained close observations on the turbulent situation in the peninsula. As a second focus area, the Council has launched preparations to hold a series of dialogues on “Reinventing Korea Inc.”, which it hopes will create synergies with the new government’s emphasis on a “creative economy”. Finally, at the Annual Meeting 2013, the Chairs of the Councils on Korea, Japan and China convened in an informal meeting, during which they agreed to continued dialogue on trilateral collaboration through commonly faced issues.
Looking ahead, the Council will maintain its course on addressing internal economic issues, the dynamics of change in terms of relations with North Korea, and also the trilateral relationship with China and Japan.
“While the country has gained worldwide recognition for its talent and innovation in manufacturing, it faces potential challenges in the diversification of sectors and in identifying new momentum for growth.”
At the Annual Meeting of the New Champions 2013, the Council will work with the Councils on Japan and China to facilitate a discussion on fostering closer collaboration among the three countries, and will engage with the wider Network of Global Agenda Councils on inputs to address key common issues facing China, Japan and South Korea. The Council will begin with the meeting of the North Korean Advisory Board and will convene dialogues to provide advice on various aspects of engagement with North Korea.
To get involved please contact
Research Analyst: Karen Wong, Global Agenda Councils, firstname.lastname@example.org
Council Manager: Joo-Ok Lee, Senior Community Manager, Asia, email@example.com
Forum Lead: Sushant Palakurthi Rao, Senior Director, Head of Asia, firstname.lastname@example.org