Foreign Affairs Outlook for 2021

Political Affairs in Central Asia and the ROK-Central Asia Relations

Dr. BAIK Joohyeon

Senior Advisor, Shin & Kim LLC

jhbaik@shinkim.com

English Abstract

Central Asian countries expect the Biden administration to tighten its control over the U.S. shale production so that international oil prices will rise above the current levels. Rising oil prices will provide room for Central Asian countries to push for industrial diversification.

Expectations are also high for the U.S. to improve relations with Russia. This is because Central Asian countries are involved in an Eurasian economic community and are maintaining close economic cooperation with Russia.

After the COVID-19, South Korea and Central Asian countries will pursue economic cooperation based on their experiences in coping with and overcoming the COVID-19. This is because South Korean companies are likely to become major partners in industrialization of Central Asian countries as awareness of the Korean medical industry has increased.