Return to stability and pragmatism

From 31 October to 1 November, South Korea hosted this year's Asia Pacific Economic Cooperation (APEC) summit in Gyeongju, the former capital of its Silla Dynasty. This was Korea's first international, multipolar stage under the new presidency of Lee Jae-myung and thus the first opportunity to polish up Korea's image after it had been severely damaged by former president Yoon Suk-yeol's martial law declaration at the end of last year and his protracted impeachment proceedings that lasted until April 2025. Uncertainty and concerns surrounded the preparations for the event in the country – not least because the real spotlight was on the bilateral meetings on the sidelines of APEC. But avoiding any major divergences with the US or with China, and between the US and China, is Lee Jae-myung's quiet success: a sign of a more stable, pragmatic Korea.