FT News Briefing South Korea plots a post-coup future
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Jun 2, 2025 The podcast delves into South Korea’s political landscape following a recent coup, spotlighting the surge of left-wing challenger Lee Jae-myung. It highlights the impact of Trump’s tariffs on private equity dealmaking around the globe. Moreover, it discusses diplomatic ramifications for U.S.-South Korea relations regarding trade and North Korea. Lastly, the decline in UK office construction and potential disruptions from a new U.S. tax policy affecting foreign investment are examined, stirring concerns on Wall Street.
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South Korea's Political Turmoil Explained
- South Korea's political turmoil started when conservative president Yoon Suk-yeol declared martial law unexpectedly six months ago.
- His impeachment and removal caused a leadership vacuum amid demonstrations and a slowing economy.
Lee Jae-myung's Possible Policy Shift
- The left-wing leader Lee Jae-myung might pursue tougher US trade negotiations and a more autonomous foreign policy balancing US, Japan, China, and Russia.
- This shift could change South Korea's economic and security relationships significantly.
Complex Geopolitical Balancing Act
- South Korea's new president may align with Donald Trump better on North Korea diplomacy but diverge on trade and China relations.
- These interlinked issues make South Korea's future policies complex and tricky to navigate.