Suchergebnisse

Recent geopolitical crises and the Covid-19 pandemic have exposed weaknesses in global supply chains, leading to disruptions in the flow of goods and creating shortages. The semiconductor shortage crisis between 2020-2021 exacerbated these issues, particularly affecting industries reliant on chips. This crisis prompted governments and industries to prioritise resilience and independence in supply chains. This paper examines the causes, effects and implications of the supply chain crisis, focusing on the economic relations between the EU and South Korea. Both parties recognise the importance of addressing supply chain vulnerabilities and have initiated collaborative efforts to strengthen critical industries like batteries and semiconductors. Moving forward, strategic collaboration between the EU and South Korea will be crucial for effectively addressing the supply chain crisis. Measures such as enhancing supply chain resilience, investing in research and development and fostering technological cooperation are essential for ensuring economic stability and navigating future challenges.

Revised version of a paper presented at the conference on "New Convergences in EU-ROK Economic Security Relations", organised in Rome on 30 January 2024 by the Istituto Affari Internazionali (IAI).

Abstract Economic diplomacy receives growing interest in the field of international relations research ever since the end of the cold war. Despite the vast number of literature on economic diplomacy, there are not many studies measuring the effect of economic diplomacy quantitatively. The purpose of this paper is to propose a method to measure economic diplomacy using the event study method that observes the influence of specific events on stock prices. In this study, the summit talks between the EU and China are selected as specific events that are considered as a form of economic diplomacy, and Airbus stock price, the proxy of the reaction to the economic diplomacy, was observed to verify the influence of it. The study categorized the summit talks by the type of participants whether the top politicians were included or not. The result shows that, among all summit talks, the summit talks between top politicians between the EU and China influence the stock price of Airbus positively, and it is statistically significant.

Both the Republic of Korea (ROK) and the European Union, along with its member states, are confronting a complex, challenging, and increasingly insecure global security environment shaped by the aftermath of the Covid-19 pandemic, Russia's invasion of Ukraine, and great power competition between China and the United States. To withstand the pressure from significant economic and geopolitical shifts, liberal democratic middle powers have intensified their commitment to multilateralism and international cooperation with like-minded countries. It is at this historic juncture that the ROK and the EU have a crucial opportunity to enhance their security cooperation to counteract disruptive tendencies that threaten their economic stability and security. The four papers in this volume offer new insights on the strategic rationales for a ROK-EU alignment, as well as detailed assessment of the prospects for cooperation between the two sides in the defence industrial sector and in the semiconductor industry.