Following an invitation from King Charles III, President Yoon Suk Yeol’s state visit will lead South Korea and the United Kingdom to elevate their relationship to a Global Strategic Partnership. The two leaders have arrived at the Downing Street Accord, which encompasses strategic cooperation in defense, security, economy, advanced science and technology, sustainable development, and human exchange within this relationship.
◇Yoon: “Blood allies, nothing we can’t do”
President Yoon and UK Prime Minister Rishi Sunak agreed on this during a summit held at 10 Downing Street, the UK Prime Minister’s official residence, on November 22 (local time).
The nickname of the Prime Minister’s official residence, 10 Downing Street, where the Korea-UK summit took place, lends its name to the Downing Street Accord adopted this time. It contains 45 action plan tasks in three major areas: security (8), economy (26), and sustainable future (11), in line with the elevated Global Strategic Partnership, marking the 140th anniversary of the establishment of diplomatic relations.
President Yoon said during the meeting, “Today, Korea and the UK are signing the Downing Street Accord,” and “I believe there’s nothing we can’t do in terms of economic cooperation and scientific and technological cooperation as true blood allies.”
Prime Minister Sunak assessed, “(The two countries) are already deeply cooperating in various fields such as defense industry, security, technology, and science.” He added, “(President Yoon’s) state visit will further strengthen cooperation at the private level, and we will reinforce this private sector cooperation through renegotiation to improve the FTA (Free Trade Agreement). Korean companies will invest about 20 billion pounds in the UK.”
President Yoon said, “Cooperation between countries that share values is more important than ever in the face of global complex crises,” expressing his will to continuously strengthen cooperation with the Group of Seven (G7) and asking for the UK’s support to promote cooperation with the G7.
The Downing Street Accord focuses on future growth industries. It sets up an institutional foundation to create jobs for the people of both countries and stimulate economic growth by leveraging the potential for innovation in areas such as artificial intelligence (AI), quantum technology, and semiconductors.
Strengthening AI and quantum technology cooperation also has military-strategic implications. Kim Tae-hyo, the First Deputy Director of the National Security Office, explained, “Converting AI and digital technology into quantum military technology can thwart enemy missile launch attempts, cause malfunctions in the propulsion and separation process of missile warheads, or affect the missile’s trajectory to neutralize the planned target.”
◇45 Tasks in Security, Economy, Sustainable Future
In terms of fields, first, the Diplomatic and Defense 2+2 Ministerial Meeting was established to strengthen cooperation in the defense and security sectors. This is the third time South Korea has regularized the Foreign and Security Ministers Meeting following the United States and Australia. The two countries also agreed to cooperate for joint market entry through Strategic Cyber Partnership and Defense Joint Export Memorandum of Understanding (MOU).
Based on the Digital Partnership, Semiconductor Cooperation Framework, and Space Cooperation MOU, the two countries will further expand their cooperation in science and technology fields such as quantum technology, synthetic biology, neuroscience, and AI-based new drug development.
Moreover, in the field of sustainable future, they agreed to cooperate in responding to climate change through initiatives such as zero-carbon energy, the conclusion of a clean energy partnership between the two countries, and contributions to the Global Green Growth Institute (GGGI).
Regarding trade and investment, negotiations for improving the Korea-UK FTA have begun. The presidential office expects this will be an opportunity to create a foundation for our companies to smoothly enter the UK market, reorganizing its supply chain after Brexit (the UK’s withdrawal from the EU). The two leaders hoped to establish trade norms in the new digital, supply chain, and energy areas and emerge as strategic trade partners.
The Downing Street Accord also contains the countries’ joint positions and cooperation intentions on global regional politics, including the Korean Peninsula, Ukraine, Indo-Pacific, and the Middle East. The two countries condemned North Korea’s nuclear and missile programs, clearly opposed the transfer of weapons and military cooperation between Russia and North Korea, and urged North Korea to immediately stop actions that exacerbate instability in and outside the region.
Starting next year, the revision will raise the upper age limit for working holiday participants from 30 to 35 and increase the number of participants from 1,000 to 5,000.
By. Kim Bo Seon
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