Seung-Whan Choi: How the South Korean president’s visit to the US affects democracy back home.
President Joe Biden hosted South Korean President Yoon Suk Yeol at the White House on Wednesday, marking the first state visit by a South Korean president in 12 years. This visit was intended to address South Korean concerns with American interests and for the leaders to revisit their commitment to mutual economic and military security.
Biden protected America’s interests without making more substantial commitments to South Korea. This diplomatic success for Biden may have negative consequences for South Korean democracy since Yoon returned to his country with nearly empty hands.
Yoon, whose 19% approval rating, due largely to disrespect for democratic values and principles, is a historical low for any Korean leader, is likely to rely on repressive measures to counter criticism of his poor handling of foreign affairs.
During the summit, Biden stood firm on initiatives related to high-tech and economic security. American consumers, who support the Inflation Reduction Act, are incentivized to buy electric cars from Tesla, General Motors, Ford Motor and Volkswagen for a full tax credit of $7,500. These companies meet sourcing guidelines that require a certain percentage of components and minerals in car batteries be purchased from the U.S. and its trading partners.
Biden did not grant an exemption for South Korean-made Hyundai and Kia cars.
Biden also implemented sweeping restrictions on semiconductor technology exports to China. The policy has negatively affected South Korean-based Samsung. The company’s chip manufacturing business, Samsung Foundry, has considerable investments in China.
Many South Koreans see these policies as an attempt to make their country a pawn in America’s trade war with China. The South Korean semiconductor industry accounts for more than 19% of total exports and has made a big dent in the trade imbalance since Yoon’s inauguration.
On the security front, Biden asked South Korea to provide military aid to Ukraine and laid the foundation for a triadic alliance with South Korea and Japan to counter the growing military and economic power of China and North Korea.
Yoon has shipped out a large quantity of artillery shells that are reportedly headed to Ukraine, reversing his previous stance that South Korea would provide only humanitarian and financial assistance.
Given that 53% of South Koreans rate Russia favorably and 35% hold an unfavorable view, Yoon’s unilateral policy change is not welcomed. Concerned citizens and the opposition party see Yoon’s policies as responsible for deteriorating relations with Russia.