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Korea Herald
03-08-2025
- Business
- Korea Herald
[Editorial] Resetting the alliance
Lee, Trump prepare for summit that may redefine Korea-US alliance President Lee Jae Myung's summit with US President Donald Trump this month is expected to mark a turning point in the Korea-US alliance. It will be their first in-person meeting since Trump returned to the White House in January, and it follows Seoul's hard-won tariff deal that secured trade terms on par with those for Japan. But economic parity is only part of the story. As security threats multiply and US foreign policy grows increasingly transactional, the summit presents an opportunity for South Korea to reanchor the alliance in predictability before global volatility intensifies. Lee, a progressive leader with no personal ties to Trump, is engaging a counterpart known for breaking diplomatic conventions and questioning traditional alliances. But Lee's emphasis on pragmatism — not flattery or defiance — is appropriate. His administration's goal is to reset the terms of engagement on clearer, firmer ground with a White House that demands more and guarantees less. At the top of the agenda is defense cost-sharing. During his first term, Trump demanded a fivefold increase in South Korea's contribution to the costs for hosting US troops on the peninsula. While a 2021 agreement put the issue on pause, concerns remain that Trump may revive the demand. Lee's team is preparing to resist sharp hikes and reframe the discussion around mutual benefits, not transactional arithmetic. South Korea's strategic importance cannot be reduced to dollars and cents. Its position between China and US-led alliances, combined with advanced defense and technological capabilities, makes it a regional linchpin. Hosting key military assets and conducting joint exercises strengthens collective readiness and reinforces the US presence in Northeast Asia. Nuclear deterrence is another critical issue. With North Korea expanding its arsenal and deepening ties with Russia, Lee is expected to push for renewed clarity on the US nuclear umbrella. A credible extended deterrence framework remains essential to South Korea's security, especially as Pyongyang shows no sign of restraint. Another priority is trilateral coordination with Japan. The Camp David process in August 2023, under the previous Joe Biden administration, strengthened Korea-US-Japan cooperation on missile tracking and early warning systems. Trump has yet to indicate whether he supports this framework or sees it merely as a holdover. Seoul will press for assurance that trilateral security cooperation is not undermined by a return to one-on-one bargaining. The recent tariff agreement offers a useful model. After months of low-profile negotiations, South Korea secured exemptions from certain US tariffs — a parity Japan already enjoyed. This outcome is viewed in Seoul as proof that diplomacy remains possible under Trump, if grounded in shared interests and quiet persistence. The challenge now is to apply that approach to defense, where uncertainty can be more damaging. Some critics argue that Trump's approach to alliances remains too mercurial. The broader question is how to 'modernize the alliance' — Washington's term for pressing allies to shoulder more of the defense burden and align with its strategy to keep China at bay. Whether Trump will engage Seoul in a serious, forward-looking conversation or pursue headline-driven concessions remains unclear. It is also uncertain whether the Trump administration, absorbed in domestic politics, fully appreciates the risks of strategic drift in East Asia, where tensions could escalate without warning. For Lee, the summit can be seen as a credibility test. His domestic critics are watching for signs of miscalculation or overreach. But if he returns with a firmer security road map, renewed deterrence commitments and no unpleasant surprises, he will have shown that South Korea can chart its course even amid unpredictable leadership in Washington. The talks are unlikely to smooth every wrinkle, yet they could mark a step toward a more grounded and resilient alliance — one shaped by the demands of a volatile era.
Korea Herald
30-03-2025
- Business
- Korea Herald
Hyosung marks first anniversary of late honorary chair
Hyosung Group announced Sunday that it held a memorial ceremony to commemorate the first anniversary of the passing of Honorary Chair Cho Suck-rai, remembering the man whose spirit of challenge remains central to the group's identity. The 40-minute ceremony took place Saturday at Hyosung's headquarters in Seoul, with family members and company executives in attendance. During the memorial, current Chair Cho Hyun-joon paid tribute to his father's enduring legacy and unyielding drive. 'My father always reminded me that crises can strike at any time and that a company must be able to turn them into opportunities,' Cho said. 'We live in a time of growing uncertainty both at home and abroad,' he continued. 'I will carry on his legacy and ensure that Hyosung becomes a future-ready company — one that transforms crisis into opportunity and quickly adapts to global changes." He also pledged to work closely with HS Hyosung Vice Chair Cho Hyun-sang to 'do our utmost to contribute to the Korea-US-Japan economic and security alliance.' Born in 1935 as the eldest son of Hyosung founder Cho Hong-jai, the late honorary chair passed away on March 29 last year at the age of 89. He led Hyosung for over half a century before stepping down in 2017 due to age and health issues. Beginning in 1970 with his leadership at Tongyang Nylon — later rebranded Hyosung T&C — Cho went on to lead Hyosung's expansion across key sectors including textiles, heavy industries and chemical materials. Appointed as the group's second chairman in 1982, he steered Hyosung's push into global markets. Beyond Hyosung, he also played a significant role in Korea's business diplomacy. He served as chair of the Federation of Korean Industries from 2007 to 2011, led the Korea-US Economic Council from 2000 to 2009 and headed the Korea-Japan Economic Association from 2005 to 2014.
