The significance of South Korean international economic and trade relations is accelerating amid supply chain disruptions due to the shock of the COVID-19 pandemic; the Russian invasion of Ukraine, which is causing a serious rethinking of Europe’s energy profile; and the trade conflict between China and the United States. Given the reshuffling of global value chains, South Korea confronts a unique opportunity to explore how it can deepen its economic and trade relationships with like-minded economies. One of the main drivers of Korea’s robust economic growth over the last 50 years has been its innovation-based, export-led growth policy. South Korea’s successful industrial policy included robust investments in education; science, innovation, and technology (STI); research and development (R&D); and export promotion.