Exploring Joint Opportunities: Korea-U.S.-Japan Summit Meeting Agenda

U.S. Representative Ami Bera stated in a panel discussion on Thursday that he expects concrete economic outcomes from the upcoming Republic of Korea-U.S.-Japan summit on August 18 in Washington. He holds a prominent position as a ranking member of the House of Representatives Foreign Affairs Subcommittee on the Indo-Pacific.

Representative Bera, speaking in an online panel by the Center for Strategic and International Studies (CSIS), a notable U.S. think tank, revealed that the trilateral summit meeting at Camp David is scheduled in a few weeks. He highlighted the potential for tangible economic cooperation results for President Yoon Suk Yeol. Furthermore, he mentioned ongoing discussions about joint exploration in the East China Sea among the three nations, with U.S. energy companies exploring collaboration opportunities in areas shared by Korea and Japan for cooperative exploration.

Tracing back to a 1974 agreement between Korea and Japan on joint development of the continental shelf, the East China Sea's joint exploration might have been mentioned. With a focus on derisking mainly via reducing dependence on resources from China, the three countries consider a trilateral joint exploration in the East China Sea, where China doubles its expedition efforts. Korea and Japan initiated joint probe projects, including one in the 7th mining concession, which allegedly contained oil, but had to halt due to funding problems.

Regarding China's restrictions on domestic sales for U.S. chipmaker Micron Technology, the U.S. lawmaker emphasized the need for allied cooperation, warning that China can change its target for economic retaliation anytime. He also assured that the ROK-U.S. alliance remains solid without signs of a rift. The U.S. Congress has been pressuring Korean semiconductor companies against exploiting the Micron situation to expand their market shares in China. Rep. Bera's comments suggest they are, so far, not concerned about such attempts.

U.S. Representative Mike Gallagher, heading the House Select Committee on the Chinese Communist Party, highlighted the shared interest of Korea, the U.S., and Japan in creating a framework to counter Chinese economic pressure. He emphasized that the economic partnership is just as important as the military one and called for addressing responsive measures to Chinese economic retaliation during the trilateral summit meeting in August.


weappon@donga.com