Asia Balancing Strategy by the GCC Countries and Policy Implications for the ROK

Munsu Kang ()
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Munsu Kang: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, https://www.kiep.go.kr/eng/

No 25-1, World Economy Brief from Korea Institute for International Economic Policy

Abstract: The paper examines how GCC-Asia relations have evolved from basic energy trade following the 1973 oil embargo to complex strategic partnerships today. This transformation was driven by GCC states' need for economic diversification and reduced dependence on U.S. security guarantees, alongside Asia's growing economic influence. The analysis highlights how major Asian powers have developed distinct approaches: China leads with state-driven initiatives in advanced technologies, Japan leverages trading companies and long-term technical cooperation, India utilizes its geographical proximity and diaspora networks, while South Korea excels in specific sectors like nuclear power and shipbuilding but lacks strong local networks. For South Korea to strengthen its position, the paper recommends developing multilateral cooperation with other Asian powers, establishing research platforms, deepening supply chain integration, and strengthening government support for systematic market entry. This strategy is particularly timely given South Korea's recent conclusion of the Korea-GCC FTA, making it only the second Asian country after Singapore to establish such an agreement with the Gulf region.

Keywords: asia; balancing; strateg; GCC; ROK (search for similar items in EconPapers)
Pages: 6 pages
Date: 2025-01-09
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