Beyond New Markets: BRICs and Korean Diplomacy1

Jae-Seung Lee

International Area Studies Review, 2006, vol. 9, issue 2, 0-18

Abstract: This paper addresses the political significance of Brazil, Russia, India and China (BRICs) and the implications of this increasingly important group for Korean diplomacy. Beyond their importance as new growing markets, BRICs countries hold strategic significance in their status as a regional hub and a leader of developing countries. BRICs diplomacy is also crucial in dealing with the globalization-related agenda and issues of energy security. However, political and economic instability are inherent in BRICs countries, and these instabilities are subject to increasing stresses with the rapid growth being experienced. The future cohesiveness of intra-BRICs cooperation therefore remains doubtful. A focus on BRICs is inevitable for Korea's future-oriented diplomatic diversification but their importance remains conditional and relative. BRICs are more likely to play a supplementary role in addition to Korea's traditional diplomatic partners.

Keywords: BRICs; Korea; diplomacy; diversification; regional hub; developing countries (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:intare:v:9:y:2006:i:2:p:0-18

DOI: 10.1177/223386590600900202

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