Us, Japan to Build ‘Indo-Pacific Framework’ with South Korea, ASEAN

Set micro network news, April 1, according to the Korean media ETNews reported that the United States and Japan will cooperate in the construction of a new framework for supply chains such as semiconductors, and plan to draw South Korea and ASEAN to participate.It is also seen as a measure to reduce economic dependence on China.The United States will establish an Indo-Pacific Economic Framework (IPEF) within this year to stabilize the supply of strategic goods, nikkei reported.The plan is to establish an economic circle between countries that share common values such as freedom and democracy and can trust each other, but details have not been disclosed yet.According to the report, the US government recently sent a draft document to Japanese authorities aimed at promoting ASEAN’s accession and initiated the adjustment of relevant wording.Given that there are not a few ASEAN countries with close ties to China, the wording to avoid over-stimulating China will be used to make it easier for countries to join the framework.Given the global economic turmoil caused by the Conflict between Russia and Ukraine and the COVID-19 pandemic, the United States will work with friendly countries such as Japan to rebuild supply chains and mitigate risks to economic security.Nikkei also predicted that the U.S. would appeal to South Korea for cooperation, but there are difficulties.According to a senior Japanese government official, the U.S. asked Japan and South Korea to set up a working group on securing semiconductors as soon as possible in 2021, and suggested that China’s Taiwan, where high-tech semiconductor manufacturer TSMC is located, could join the group.If Japan, The US and South Korea and China and Taiwan cooperate in semiconductors, they will capture more than 70 per cent of global production.Southeast Asia is also expected to become a future manufacturing base as semiconductor investment is increasing.Export restrictions imposed by the Japanese government on South Korea in 2019 will be an obstacle to attracting South Korea’s participation, the report said.However, it is expected that the U.S. will urge the new South Korean government to cooperate with Japan.(Proofreading/Stan)

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