Korea, US work as a team to thwart North Korean threats: Yoon

Principal Deputy National Security Advisor Kim Tae-hyo reads President Yoon Suk-yeol's message during The Korea Times Forum, themed "New Challenges for Korea-U.S. Alliance," at the Korea Chamber of Commerce and Industry in Seoul, Wednesday. Korea Times photo by Choi Won-suk

At Korea Times Forum, president says US commitment to extended deterrence to protect South Korea is rock solid

By Nam Hyun-woo

President Yoon Suk-yeol said on Wednesday that South Korea and the United States will work as a team, like a living organism, to respond to growing threats from North Korea.

"South Korea and the U.S. will mobilize every available measure for an overwhelming and resolved response to all types of North Korea's nuclear or missile threats, and during that process they will work as a team to actively and swiftly thwart North Korean threats," he said in a speech at The Korea Times forum, "New Challenges for Korea-U.S. Alliance," held at the Korea Chamber of Commerce and Industry building in Seoul.

Principal Deputy National Security Advisor Kim Tae-hyo read the speech on behalf of the president,

Yoon said that he and U.S. President Joe Biden have discussed the enhanced combined defense capability between the two countries as one of the most important agendas during several meetings they had, noting that the U.S. promised to provide extended deterrence to protect South Korea from North Korean threats.

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"The Korea-US alliance's deterrence of North Korea will be further strengthened, which in turn will help protect the lives and safety of our citizens and serve as a linchpin for peace and prosperity," he said.

Yoon made the remarks amid heightened threats from North Korea as the reclusive state launched artillery rounds and conducted air drills and nuclear-capable missile tests.

Regarding the global supply chain disruptions, Yoon said cooperation among countries based on mutual trust will help stabilize the supply chain and ensure sustainable prosperity.

Yoon said the South Korea-U.S. alliance goes beyond a bilateral alliance, noting that it can be a platform for global peace and prosperity. The president also pledged that Seoul will live up to its commitment to the international community by expanding development assistance.

Korea Times Chairman Seung Myung-ho delivers his opening remarks during The Korea Times Forum, themed "New Challenges for Korea-U.S. Alliance," at the Korea Chamber of Commerce and Industry in Seoul, Wednesday. Korea Times photo by Choi Won-suk

During the forum, Korea Times Chairman Seung Myung-ho noted that the global geopolitical risks are growing and aggravating the economic circumstances facing South Korea.

"Consumer prices and interest rates are rising, and the global supply chain is facing challenges in every corner of the world, aggravating the circumstances for businesses," Seung said. "With tensions ever increasing on the Korean Peninsula and uncertainties amplifying in and outside of the country, the Korea-U.S. alliance has become more important than ever before."

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said in his keynote speech that the alliance has been upgraded to an economic security alliance because the focus of the global supply chain has moved from efficiency and international distribution to stability and economic security, in the wake of rising geopolitical risks and reductions in international liquidity.

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho delivers his keynote speech during The Korea Times Forum, themed "New Challenges for Korea-U.S. Alliance," at the Korea Chamber of Commerce and Industry in Seoul, Wednesday. Korea Times photo by Choi Won-suk

The Korea Times forum explored issues related to economic security and the Korea-U.S. alliance.

In Session 1, experts presented their ideas about Korea-U.S. tech cooperation in the areas of semi-conductors and the auto industry and possible risks and opportunities. Moderated by James Kim, president of the American Chamber of Commerce in Korea, Institute of Foreign Affairs and National Security Professor Lee Hyo-young, Chung-Ang University Professor Lee Seung-joo and Yulchon LLC Attorney Shin Tong-chan shared their views on the impact of economic security.

In Session 2, moderated by RAND Corporation policy analyst Soo Kim, former U.S. special envoy to the six party talks, Joseph DeTrani, former Korean envoy to the six party talks, Wi Sung-lac, and Pusan National University Professor Robert Kelly exchanged their views on North Korea's provocations and their impact on the Korea-U.S. alliance.

Over 100 participants, including foreign diplomats based in Seoul, think tank experts, chief executives of financial companies and businesses attended the forum.