► IPEF may not be a traditional trade agreement, but it has the potential to bring together a wider range of countries that share common interests in each of these areas, if not always the same positions. ► A successful IPEF, as currently envisioned in its announcement, could help to advance the interests of the United States and Korea.     Since the United States withdrawal from t...

▸ The IPEF as a multilateral economic negotiation is marked by distinctive characteristics in terms of its negotiation scope and procedures. The IPEF is slated to announce negotiation results at the Asia-Pacific Economic Cooperation Leaders’ Summit that the U.S. will host in November 2023.    ▸ In the face of the US and China conflict, the Covid-19 pandemic, and Russia’s invasion of Ukraine, t...

► The IPEF is not a traditional trade bloc that involves tariffs and market access, but it will be a new vehicle for the U.S. to set the rules for trade in the Indo-Pacific region. ► Although the U.S. holds the key to the participation of ASEAN members, Korea can play a bridge role between the U.S. and ASEAN counterparts in negotiation processes. ► As Korea seeks to enhance its standing in Indo-Pacific an...

►Indo-Pacific Economic Framework (IPEF), which consists of 14 member countries, is the centerpiece of the Biden Administration’s economic strategy in the region. IPEF is not a traditional trade agreement but a platform for discussion between the United States and partners in the region on shared economic concerns. Its agenda is organized into four pillars: trade, supply chain resilience, clean energy and infrastr...