Trend Compound economic and new security threats weaken multilateralism and global governance

Summary

Economic security and new security threats are becoming more complex, and the report expects multilateralism to weaken as a result. Economic security risks are compounding through competition to secure technologies and supply chains. New security threats are becoming multilayered, including cyber security, cognitive warfare, AI deepfakes and hybrid warfare. Strategic competition between the US and China is dividing the world into blocs, while national self-interest grows and international organisations weaken. Together these trends are ushering in a crisis of global governance. The report accordingly frames Korea's economic security policy as integrated management of external risk and early response to new security threats.