Eye on Korea

Tami Overby, Senior Counselor at DGA-Albright Stonebridge Group, analyzes the outcomes of the Trump-Lee meeting on the sidelines of APEC, and the long-awaited investment deal and what it signals about the next phase of the U.S.-Korea relationship. She explains how Washington’s green light for South Korean nuclear-powered submarine development fits into alliance strategy and how it may complement U.S. shipbuilding priorities at a moment when industrial capacity and defense production are becoming central to national security planning.
The conversation also examines Trump’s meeting with Xi Jinping and why Tami believes that the semiconductor export controls and purchase agreements could hold at least through next year. She discusses the unknowns that still surround the U.S.-Korea trade agreement, including how tariffs and investment incentives will be implemented, and what further clarity businesses are looking for as capital begins to move.
The discussion also explores the growing importance of critical minerals to U.S. and Korean defense industries, and what Korea’s path as next year’s APEC host suggests about its long-term position in the Indo-Pacific.
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Matthew P. Goodman, Distinguished Fellow for Geoeconomic Studies at the Council on Foreign Relations (CFR), joins Eye on Korea to discuss this year’s APEC Summit in South Korea and why expectations should be modest. 
Goodman outlines the three tiers of APEC and how this year’s policy agenda fits within its broader framework. He also highlights the importance of working-level meetings that quietly sustain regional cooperation throughout the yearlong buildup to the event.
The conversation explores how APEC’s long-standing mission of reducing trade barriers increasingly clashes with the U.S. shift toward tariffs and industrial policy, and how the geopolitics of tariffs are reshaping regional dynamics, including the U.S.–Japan investment deal and prospects for a U.S.–Korea trade agreement. Goodman also assesses whether Presidents Trump and Xi were ever on track for a trade breakthrough—and why that momentum stalled before APEC.
Korea, Japan, and Australia continue to have huge stakes in the U.S. security alliance and market access, Goodman argues, making decoupling very unlikely. Instead, allies may increasingly hedge by deepening participation in parallel trade arrangements such as the CPTPP, which remains an attractive vehicle for Indo-Pacific economies seeking stable and rules-based trade integration.
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Wendy Cutler, Vice President at the Asia Society Policy Institute and a former U.S. trade negotiator, joins KEI President & CEO Scott Snyder to break down the state of U.S.–Korea trade talks — and why a long-awaited deal remains elusive.
We examine the sticking points at the heart of negotiations, including Washington’s push for a $350 billion Korean investment fund, Seoul’s concerns over U.S. demands, and how the recent U.S.–Japan trade agreement has complicated Korea’s bargaining position. Wendy also unpacks the continued fallout from the Hyundai immigration raid, how visa bottlenecks are slowing new investment, and why both sides may need to abandon a “take it or leave it” posture to reach an agreement.The conversation also explores what message Seoul might deliver directly to Donald Trump at the APEC summit, which tariff concessions matter most for autos, semiconductors, and steel, and how the 2026 USMCA review could reshape trade dynamics across the Indo-Pacific.
Finally, we discuss how shifting public opinion and growing emphasis on economic security and supply chains are redefining the U.S.–Korea alliance for a new era.
Like and subscribe to the Korea Economic Institute of America on YouTube for more U.S.-South Korea news, analysis, politics and more! Social Links:Website: https://keia.org/LinkedIn: https://www.linkedin.com/company/korea-economic-institute-of-america/Facebook: https://www.facebook.com/KoreaEconInstitute/Instagram: https://www.instagram.com/koreaeconinst/Twitter/X: https://x.com/koreaeconinst [KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Jeff Schott, Senior Fellow at the Peterson Institute for International Economics, joins KEI President & CEO Scott Snyder to break down the challenges and opportunities in U.S.–Korea trade relations. We discuss how U.S. tariff policy under the Trump administration has reshaped Korea’s auto exports and the U.S. Korea free trade agreement (KORUS FTA), the fallout from the Hyundai raid in Georgia, and what it means for South Korean investment in the United States. Jeff also explores opportunities for deeper cooperation in shipbuilding and LNG, Korea’s balancing act between Washington and Beijing, and how Seoul is weighing the benefits of joining the CPTPP alongside partners in the Asia-Pacific and Europe. Finally, we look at what’s at stake for the future of U.S.–Korea economic ties and explain why durable, coordinated trade and investment policy is critical for both countries.
Like and subscribe to the Korea Economic Institute of America on YouTube for more U.S.-South Korea news, analysis, politics and more! Social Links:Website: https://keia.org/LinkedIn: https://www.linkedin.com/company/korea-economic-institute-of-america/Facebook: https://www.facebook.com/KoreaEconInstitute/Instagram: https://www.instagram.com/koreaeconinst/Twitter/X: https://x.com/koreaeconinst [KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Rachel Minyoung Lee, Senior Fellow at the Stimson Center’s Korea Program and 38 North, unpacks Kim Jong Un’s high-profile visit to Beijing in early September. This was Kim’s first multilateral gathering, aimed at showing the world he is a leader—not just a player—in an emerging Cold War dynamic between China, Russia, and North Korea on one side, and the U.S. and its allies on the other.
We discuss how Kim sought propaganda wins ahead of a major political event in Pyongyang, his strengthening long-term relationship with Vladimir Putin, and the growing defense and munitions cooperation between North Korea and Russia. We also look at the quieter but more ambiguous ties between Kim and Xi Jinping, with their latest summit producing the vaguest readout yet.
Rachel also breaks down North Korea’s effort to balance Beijing and Moscow for its own gain, Pyongyang’s role in the war in Ukraine, and why the future of inter-Korean relations looks increasingly bleak. Finally, we explore what to expect from the upcoming 9th Party Congress, how North Korea sets its long-term agenda, and why Pyongyang remains firmly anti-U.S.—but not necessarily anti-Trump.
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[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Zack Cooper, senior fellow at the American Enterprise Institute, unpacks the Trump administration’s national security priorities, which he groups into homeland defense and the Indo-Pacific. He weighs in on why he’s impressed with South Korea’s early moves under the Lee administration, but warns that Seoul may be overly optimistic about Washington’s expectations.
Dr. Cooper also discusses Trump’s demands of allies to increase defense spending, the possibility of U.S. troop withdrawals from South Korea as leverage, and how extended deterrence guarantees could gradually weaken until Seoul offers more. The conversation also explores where North Korea sits on the U.S.-ROK priority list, how China factors into the Trump-Lee summit, and the future of OP-CON and strategic flexibility.
Looking ahead at the summit in DC on August 25, Dr. Cooper explains why shipbuilding is a smart bet for President Lee to keep Washington engaged and invested in South Korea’s defense.
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[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Dr. Hyo-young Lee, Associate Professor at the Korea National Diplomatic Academy and an expert in international trade and diplomacy, joins KEI President & CEO Scott Snyder for a detailed discussion of the recently announced U.S.–South Korea trade deal. Our conversation explores how Korean negotiators navigated the pressure of earlier U.S. trade deals with Japan and the EU, and how Seoul secured a 15 percent reciprocal tariff agreement while protecting red-line sectors such as rice and beef. Dr. Lee also explains the significance of Korea’s $350 billion investment pledge, including the distinctive “Make America Shipbuilding Great Again” initiative, and what it reveals about Korea’s evolving economic strategy toward the United States. We also discuss the sidelining of the KORUS FTA, the growing role of Korean conglomerates, emerging frictions over digital trade, and the risks of closely linking trade and security. With an upcoming summit between President Trump and President Lee expected in Washington, Dr. Lee offers insight into which issues are likely to be addressed by the two leaders and which should remain the focus of working-level discussions. Like and subscribe to the Korea Economic Institute of America on YouTube for more content on U.S.–South Korea news, analysis, politics, and more. Social Links:Website: https://keia.org/LinkedIn: https://www.linkedin.com/company/korea-economic-institute-of-america/Facebook: https://www.facebook.com/KoreaEconInstitute/Instagram: https://www.instagram.com/koreaeconinst/Twitter/X: https://x.com/koreaeconinst
[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Michael Beeman, former Assistant U.S. Trade Representative for Japan, Korea, and APEC, joins KEI President and CEO Scott Snyder to unpack what’s really driving U.S.–South Korea trade negotiations under President Donald Trump’s second term.
Drawing from his time at USTR and insights from his book Walking Out: America’s New Trade Policy in the Asia-Pacific and Beyond, Dr. Beeman explains Trump’s 25% tariff rate threat on South Korea, why economic security and non-tariff measures dominate the White House agenda, and why he thinks South Korea is unlikely to escape a double-digit tariff rate—even after negotiations and even if newly elected President Lee Jae-myung holds a successful summit in Washington.
The conversation touches on the growing use of Section 232 tariffs, the challenges of sectoral tariffs on autos, steel, semiconductors, and pharmaceuticals, and what early trade deals with the UK and Vietnam signal for Korea. President Snyder and Dr. Beeman also discuss digital trade, country of origin rules, and how transshipment through China fits into the bigger picture.
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You can find Dr. Beeman’s book, Walking Out: America’s New Trade Policy in the Asia-Pacific and Beyond, here: https://www.amazon.com/Walking-Out-Americas-Policy-Asia-Pacific/dp/1931368740
https://www.sup.org/books/politics/walking-out
A recording of KEI’s November 2024 event with Dr. Beeman is available here: https://www.youtube.com/live/8LTrlsvBuTo?si=elMGFBk7F4XtYhGM
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[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]

Dr. John Blaxland, Director of the Australian National University’s North America Liaison Office and an expert in international security and intelligence, joins KEI President & CEO Scott Snyder for a deep dive into the evolving Australia-South Korea relationship.
The conversation covers Dr. Blaxland’s forthcoming article in Korea Policy, highlighting how Australia and South Korea are increasingly engaging in bilateral and multilateral cooperation with greater independence from the U.S. We also examine the growing defense-industrial ties between the two countries, the impact of the AUKUS agreement and its Pillar 2 technology-sharing scheme, and the strategic opportunities for deeper Australia-South Korea collaboration. Dr. Blaxland adds perspectives on political alignment, trade resilience, and the challenges of navigating transactional U.S. foreign policy.
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[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]
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Eye on Korea is distributed under a CC BY-SA 4.0 License, which can be found at https://creativecommons.org/licenses/by-sa/4.0/

In this episode of Eye on Korea, KEI President Scott Snyder sits down with former U.S. Ambassador to South Korea Philip Goldberg for a wide-ranging conversation on South Korea's domestic political transformation with the election of new president Lee Jae-myung, and its implications for foreign policy and U.S.-ROK relations. Ambassador Goldberg reflects on the final months of his tenure in Seoul, including the declaration of martial law and impeachment proceedings of former president Yoon Suk Yeol.
Drawing on decades of diplomatic experience, Goldberg assesses the health of Korean democracy, the shifting dynamics of the U.S.-Korea alliance under new leadership in both countries, and the growing strategic tension between economic ties to China and security cooperation with the U.S. We discuss South Korea’s global rise in industries like semiconductors and EVs, the demographic and economic challenges ahead, and the evolving posture toward North Korea in the face of renewed ties between Pyongyang and Moscow.
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[KEI is registered under the FARA as an agent of the KIEP, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.]______Eye on Korea is distributed under a CC BY-SA 4.0 License, which can be found at https://creativecommons.org/licenses/by-sa/4.0/