Faced with fast-changing regional geopolitical and trade dynamics and ongoing uncertainties for the future of inter-Korean relations, South Korea is also undergoing internal transformations in terms of its demographics (it is one of the fastest-ageing societies in the world), which in turn is affecting drastic value shifts and a generational divide. Other drivers affecting the country is the increasing level of hyperconnectivity, which has fuelled innovations in its ICT sector, but is also creating increasing vulnerability to cyberattacks.
As South Korea’s government continues to promote a “creative economy”, questions remain whether the country will be able to successfully restructure its economic model, which is dominated by and heavily dependent on it large enterprises, into one that allows for smaller and more innovative players to thrive and share the burden of its future growth.
The Global Agenda Council on Korea has continuously focused on addressing key challenges surrounding geopolitical issues, the country’s sustained economic development, and its relationship with neighbouring Japan and China. This term, the council aims to look into the creative economy agenda in more depth, and produce feasible policy recommendations that can also act as case studies for other emerging economies faced with similar challenges. On the geopolitical front, the council plans to facilitate linkages with necessary international expertise within the Network of Global Agenda Councils to support the re-engagement of North Korea into the global arena and help reduce risks within the Korean Peninsula.