On August 21, 2024, our researcher, Jeremy Chih-Cheng Chang, traveled to Seoul, South Korea. He represented the Technology, Democracy, and Society Research Center at a significant event. The forum celebrated the expansion and renaming of the Korea Trade Security Administration.
The Korea Trade Security Administration, formerly known as the Korean Security Agency of Trade and Industry, is South Korea’s key economic security think tank under the Ministry of Trade, Industry and Energy. It manages trade policies and export controls related to national and economic security. This includes monitoring trade security policies and sanctions trends globally, and assisting businesses in adhering to international trade standards to ensure the country’s trade and economic security.
Following the U.S.-China technology war, KOSTI’s directors were strategic staff for national and economic security under the South Korean president. Dr. Lee Eun-ho, who served from 2020 to 2023, is now the South Korean representative in Taiwan. Dr. Inkyo-Cheong, who succeeded Dr. Lee, was the chief negotiator for the Korea-U.S. Free Trade Agreement before becoming the chief trade negotiator for South Korea. After the institute’s expansion and renaming, Dr. Jeongmeen Suh became its first director. He is an expert in trade policy and economic diplomacy, representing the government in international negotiations related to free trade agreements, the World Trade Organization (WTO), and the Asia-Pacific Economic Cooperation (APEC).
Following its expansion, KOSTI not only handles trade management and export control related to national and economic security but has also expanded into financial sanctions. It integrates all information and policy tools for South Korea’s participation in the global geopolitical era. The institute’s staff increased from fifty to ninety people starting in 2019.
The investment screening forum was divided into two parts. In the session on “International Comparison of Investment Screening,” Chang spoke alongside Dr. Andrea Viski, Director of the Strategic Trade Research Institute and Editor-in-Chief of the Strategic Trade Review, and Professor Yeri Rye from Gyeong Sang National University, South Korea. They discussed the evolution and trends of investment review regulations in the U.S., Taiwan, and China amid U.S.-China geopolitical and technological competition.
Chang’s presentation focused on “Taiwan’s technology protection mechanism,” exploring Taiwan’s economic security framework, practical regulations, and the challenges Taiwan faces in its economic and trade structures as the U.S. and China move towards decoupling in critical technology supply chains. The session also featured senior scholars from Korea National Diplomatic Academy and Korea Institute for International Economic Policy, Kyung Hee University, and Korea Institute for Industrial Economics & Trade. They engaged in a broad and in-depth dialogue on the content and strategic thinking of investment review regulations under technological geopolitics.
In his presentation titled ‘Taiwan’s Technology Protection Mechanism,’ Chang explored Taiwan’s economic security framework, practical regulations, and the challenges Taiwan faces in its economic and trade structures as the U.S. and China move towards decoupling in critical technology supply chains. The session also included senior scholars from Korea National Diplomatic Academy(KNDA), Korea Institute for International Economic Policy(KIEP), Kyung Hee University, and Korea Institute for Industrial Economics & Trade(KIET). They engaged in extensive and in-depth discussions on the content and strategic thinking of investment review regulations under technological geopolitics.
In his speech, Chang expressed his honor that DSET was invited to the forum commemorating the expansion and renaming of KOSTI. He highlighted that amid the U.S.-China technology war and rising geopolitical tensions, South Korea is one of the most proactive countries in strategizing for economic security. South Korea’s legislative framework in critical core technologies serves as a valuable reference for Taiwan.
Chang also noted that Taiwan and South Korea are the only two countries with foreign investment review systems, adding significant value to their comparison of economic security policies. As the U.S. implements its investment review system against China for critical technologies like semiconductors this year, the European Union and Japan might follow suit. Taiwan and South Korea, being pioneers in such systems among democracies with similar values, have a crucial role in shaping new frameworks for economic security cooperation.
DSET focuses on emerging technologies and economic security policies. This forum offered a valuable opportunity to deepen think tank dialogue and cooperation between Taiwan and South Korea along the 1.5 track. In the future, DSET will continue to represent Taiwan in international discussions on economic security. It aims to foster deeper research cooperation and dialogue with think tanks in countries that share similar values.
