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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

South Korea organizes its first summit with Pacific island leaders.

President Yoon Suk Yeol Photo Credit: Jin Kyoung.Chang President Yoon Suk Yeol Photo Credit: Jin Kyoung.Chang
President Yoon Suk Yeol Photo Credit: Jin Kyoung.Chang President Yoon Suk Yeol Photo Credit: Jin Kyoung.Chang

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On Monday, South Korean President Yoon Suk Yeol begins his first summit with Pacific island leaders to enhance Seoul’s influence in an area of strong geopolitical conflict.

Last year, Yoon introduced his Indo-Pacific plan to promote a “free, peaceful, and prosperous” region based on a rules-based order amid concerns over China’s security ambitions over refreshing waters and economic leverage among small island states.
The South Korean president met with Kiribati President Taneti Maamau and Papua New Guinean Prime Minister James Marape over the weekend.

“The president discussed expanding reciprocal cooperation in development, marine and fisheries as well as building health infrastructure and responding to climate change in bilateral meetings with each of the Pacific islands,” Yoon’s office said Sunday.

South Korea’s Indo-Pacific strategy encourages trilateral collaboration with the U.S. and Australia on supply chains, vital minerals, and climate change.
“South Korea must still move cautiously between the two great power rivals given Seoul’s larger economic and geopolitical stakes in China relative to other U.S. allies,” said Brookings Institution Senior Fellow Andrew Yeo.

On Saturday, his office announced that Australian Defence Minister Richard Marles would attend the Korea-Pacific Islands Summit to demonstrate cooperation between the 18 Pacific Island Forum members and South Korea for regional security.

Australia and New Zealand lead the forum, a group of primarily tiny island nations at risk from rising sea levels due to climate change and dependent on development funding.

The bloc handles important powers collectively.
Last week visited PNG, Indian Prime Minister Narendra Modi promised additional trade and economic aid to a dozen Pacific island governments. After a Pacific meeting, U.S. Secretary of State Antony Blinken signed a defense deal with PNG.

Yoon’s office reported a cyclone kept Micronesia from the Seoul summit.


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