The 2025 Yushan Forum, the theme of which was New Southbound Policy+: Taiwan, the Indo-Pacific, and a New World, concluded on March 18. The forum was attended by key political figures, industrial leaders, and experts from New Southbound Policy partner countries and other like-minded nations worldwide, including Denmark, Slovenia, the United States, Japan, the Czech Republic, Poland, Lithuania, Canada, New Zealand, the Philippines, Thailand, Singapore, and India.[1] On the morning of March 17, President Lai Ching-te attended the opening of the forum, and stated that the New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. [2]Also, he highlighted the importance of New Southbound Policy+ (NSP+) by stating that the Yushan Forum has become more than just an important platform for the New Southbound Policy.

Since 2016, former president Tsai Ing-wen’s New Southbound Policy (NSP) has served as Taiwan’s regional strategy for Asia. Over the past years, the NSP has highlighted Taiwan’s contribution to the region in various sectors—including economic and industrial connections, education, public health and medical care, and agriculture. These fields have been played by flagship programs led by the public sector, strengthened by Taiwanese business/production networks in the region (private sector), and promoted through collaboration among civil society organizations/NGOs (people sector).[3]

In addition, in May of 2024, President Lai Ching-te has constantly emphasized the significance of “value-based diplomacy” for Taiwan, summarizing its core elements with the acronym D-P-P (Democracy, Peace and Prosperity). It has highlighted cooperation with like-minded countries, such as the United States, Japan, Europe, Southeast Asia, South Asia, Australia and New Zealand, based on shared values and common interests. The key missions of the NSP+ include: securing high-tech supply chains and providing innovative digital solutions, enhancing medical and public health cooperation, and leveraging economic and technology diplomacy. Therefore, key topics of the 2025 Yushan Forum included smart solutions, technology and economic cooperation.

Between Taiwan`s NSP+, and South Korea`s Indo-Pacific Strategy[4], there are a lot of similarities. South Korea’s Indo-Pacific Strategy, remarked by President Yoon in 2022, is a comprehensive strategy that encompasses the economic and security realms of Indo-Pacific nations. The geographical scope of South Korea`s Indo-Pacific Strategy focuses on further developing our network of strategic partnerships tailored to the Indo-Pacific region, including Southeast Asia, South Asia, Oceania, and the African Coast of the Indian Ocean. It has three visions: freedom, reinforcing the rules-based international order, peace, preventing disputes and armed conflicts based on established rules, and prosperity, building an open and fair economic order for shared prosperity. Taiwan`s NSP+ and South Korea’s Indo-Pacific Strategy aim to diversify the economic and security partners for reducing reliance on China.

Historically similar to Taiwan’s NSP which was introduced in September 2016 under former President Tsai Ing-wen, South Korea announced the launch of the New Southern Policy in 2017. The overall goal of this policy is to substantially enhance the partnership between ASEAN and the ROK based on the 3Ps (people, prosperity, and peace), which correspond with the three pillars of the ASEAN Community.[5] China had imposed economic retaliation against South Korea after President Park Geun-hye agreed to the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) anti-missile system on its territory in 2016. [6]This resulted in huge economic losses in the fields of entertainment, consumer products, and tourism.[7] However, nowadays, Taiwan and South Korea should prepare for the Trump’s ‘America First’ foreign policy. For reducing our reliance on specific countries, it is essential to diversify and enhance the partnership among like-minded partners.

Despite these similarities, it is indicated that the greatest difference forward between the policies adopted by Taiwan and South Korea is that the latter was able to adopt presidential diplomacy.[8] For example, former president Moon Jae-in actively visited ASEAN for negotiations and bilateral cooperation with these countries. South Korea’s New Southern Policy is relatively easier for enforcing the government-to-government foreign policy that is being implemented through various summit meetings and related ministerial-level talks. This includes the president’s travel diplomacy to 10 ASEAN countries, a summit with the Indian prime minister, The Korea-ASEAN summit, and the Mekong-Republic of Korea Cooperation with a Mekong-ROK Senior Officials’ Meeting. Contrary to presidential diplomacy in South Korea, there are a lack of official diplomatic channels between Taiwan and other states in South and Southeast Asia. Therefore, Taiwan could only establish informal ties and social connectivity through non-government sectors such as NGOs and business sectors.

In spite of the absence of presidential diplomacy in Taiwan, private sectors between South Korea and Taiwan can cooperate in various fields such as energy and the semiconductor industry. In 2024, Vena Energy’s subsidiary, Taean Wind Power, selected South Korean company, LS Cable & System, as the preferred submarine cable supplier for the 504 MW Taenan offshore wind farm in South Korea. Representative Director of Taean Wind Power mentioned expertise and proven track record in subsea cable engineering align with their commitment to sustainability.[9] Also, SK Oceanplant has sealed a $286 million deal to supply fixed offshore wind turbine foundations to Taiwan. The Fengmiao 1 project aims to develop a 500-megawatt offshore wind power complex located 35 kilometers off the coast of Taichung City in western Taiwan. Construction is slated to begin in 2025 with operations expected to start in 2027. The Taiwanese government is proceeding to construct offshore wind power complexes generating 15 gigawatts in five Phases by 2035.[10] In case of the semiconductor industry, South Korea’s Samsung Electronics Co., the world’s largest memory chipmaker, is partnering with its foundry rival Taiwan Semiconductor Manufacturing Co. (TSMC) to jointly develop HBM4, an advanced type of memory. [11]

Through promoting cooperation among private sectors, think tanks, and NGOs in South Korea and Taiwan, these two regions can effectively secure high-tech supply chains and provide innovative digital solutions to the like-minded partners while conducting each NSP policy.  For this, the 2026 Yushan Forum should be the first step in advancing the partnerships between South Korea and Taiwan, with various fields of South Korean private sectors, think tanks, and NGOs invited”

Ms. Kie Kang is a PhD student in Graduate Schools for Law and Politics and Faculty of Law, University of Tokyo. She completed an M.A. in the Graduate School of Public Policy at the University of Tokyo. Previously, she was selected as an Asan Young Fellow in the Asan Academy, which was a special fellowship program to train future leaders of Korea with an understanding of humanities and knowledge across various disciplines run by Asan Institute for Policy Studies. Through this fellowship, she was an intern at Hudson Institute, focused on the trilateral relations among the U.S.-Japan-Republic of Korea. Prior to joining Hudson Institute and Asan Academy, she joined and focused on East Asian security as an intern at Asia Pacific Initiative, which is a Tokyo-based think-tank. Ms. Kang completed her B.A. in international politics at Keio University.

Photo: LS Marine Solution’s submarine cable laying vessel. Source: LS Marine Solution

[1] Global leaders attend eighth Yushan Forum in concrete show of support for Taiwan’s integrated diplomacy

[2] President Lai addresses opening of 2025 Yushan Forum-News releases-News & activities｜Office of the President Republic of China(Taiwan)

[3] Taiwan’s Approach to Materialize the Indo-Pacific Strategies: Building on the New Southbound Policy+ | Global Taiwan Institute

[4] Introducing the Indo-Pacific Strategy | Ministry of Foreign Affairs, Republic of Korea

[5] Overview | ASEAN Ministry of Foreign Affairs, Republic of Korea

[6] Ruling party vows to minimize damage from China’s THAAD revenge – The Korea Herald

[7] https://www.uscc.gov/sites/default/files/Research/Report_China’s%20Response%20to%20THAAD%20Deployment%20and%20its%20Implications.pdf

[8] Navigating the Politics of Soft Power: Taiwan and Korea’s Regional App

[9] New agreement to keep LS Cable & System busy offshore South Korea – Offshore Energy

[10] SK oceanplant seals $286M substructure deal for Taiwanese wind project

[11] Samsung Electronics, TSMC tie up for HBM4 AI chip development – KED Global