The Effects of Increased Trade with China and Vietnam on Workers’ Earnings and Job Security in Korea

The Ukrainian crisis and Russia-U.S. conflict can provide important policy implications for South Korea. This is especially true in that the external environments of Ukraine and the Korean Peninsula, which are located between great powers, share many similarities. In addition, and more importantly, this event will inevitably have a huge impact on the global economic and security order. This crisis is related to the continued geopolitical competition between the United States and Russia, the strengthening of the Atlantic alliance between the United States and the European Union, the increase in NATO’s future role and status in the European security order, Russia’s challenge to building the European security order, and the change in relations between Russia and the West. Considering the above, the policy implications for the Ukrainian crisis and Russia-U.S. conflict can be summarized as follows. First, there is a possibility that a so-called “new Cold War” confrontational structure will be formed on the Korean Peninsula. Second, the crisis in Ukraine could have a negative impact on North Korea’s denuclearization process. Third, the crisis in Ukraine and Russia-