The South Korea of 2022 is a developed country, a strong democracy, and a cultural powerhouse. The old adage of South Korea being a ‘shrimp among whales’ is outdated and does not correspond to the reality of contemporary South Korea. There is a need, therefore, for a new paradigm in South Korea’s foreign policy that reflects the country’s new position as a global player. This new paradigm ought to be based on South Korea’s status as a developed country. As a developed country, South Korea has to move from a reactive to a proactive foreign policy. As the contributors to this report discuss in detail, embracing its role as a developed country will allow South Korea to become more recognised as a key foreign policy actor — but also to benefit itself from a more active role in international affairs.

This report, sponsored by KIEP, covers seven chapters on South Korea and global governance, climate change and new green deals, global health cooperation, global trade governance, South Korea's role in East Asia and Indo-Pacific Security, US-South Korea Alliance and its contributions to global security, and South Korea and the European Union as natural partners for multilateralism.