Report

Institute for Future Strategy, Seoul National University — Global Korea Cluster
2024 Annual Report
“Great Power Strategies for Economic Prosperity: Integrating Industry, Culture, and Security”

This report provides a comprehensive analysis of the second-year outcomes of the Global Korea Cluster at the Institute for Future Strategy (IFS), examining how Korea can strengthen its global leadership through an integrated strategy encompassing industry, culture, and security. As a nation aspiring to become an “open-network great power,” Korea must advance its economic, cultural, and security capacities in a coordinated manner to sustain prosperity and influence in the international community.

In its industrial strategy, the report proposes expanding Korea’s economic reach through the creation of global innovation and production zones. Centered on the concept of the “Multiple Hub & Spoke” production base, this strategy seeks to promote economic prosperity through open networks that link Korea to key global production centers. Domestically, it emphasizes the establishment of innovation zones, while externally, it calls for stable supply chains built through international industrial linkages. This structure positions Korea as a central hub connecting diverse global production bases, forming the foundation for not only economic prosperity but also cultural vitality and national defense capability.

In its cultural strategy, the report calls for the establishment of a global popular culture platform built on differentiated digital-age competitiveness. By developing an open cultural ecosystem, Korea can lead the world’s popular culture market, enhance its soft power, and expand the universal value and global influence of Korean culture. This strategy contributes to both economic growth and diplomatic engagement while strengthening Korea’s negotiating power in international relations. The government’s role, the report notes, should be that of a coordinator and supporter rather than a regulator. Through an open and creative cultural platform, Korea can secure its position as a global leader in the popular culture industry.

The security strategy focuses on securing maritime routes and expanding military cooperation with the United States and other Indo-Pacific countries that uphold the values of free trade and international order. To anchor global innovation and production networks—as well as online and offline cultural ecosystems—around Korea, it is vital to reduce security risks through a comprehensive maritime strategy extending beyond the Korean Peninsula. Korea is now positioned to contribute to the provision of global public goods, such as the safety of maritime trade routes, in partnership with allies and friendly nations. To contribute to the reorganization of the 21st-century world order and expand its national interests, Korea must exercise leadership and responsibility commensurate with its elevated global standing. Furthermore, as an emerging great power, Korea should view space security as a new driver of national advancement. Developing a uniquely Korean approach to space security and exploring its future trajectory is a pressing national task. Together, maritime and space security form the strategic foundation for Korea’s economic prosperity and safeguard its future.

Keywords:
Open-network great power, Multiple Hub & Spoke production strategy, global innovation zone, supply chain stability, popular culture platform, soft power, maritime security, Indo-Pacific strategy, space security, national strategy