In this week’s episode of The Korea Pro Podcast, co-hosts Jeongmin and John discuss a range of developments in South Korea and beyond. First, Jeongmin and John delve into President Yoon Suk-yeol’s surprise announcement regarding potentially vast oil and gas reserves off the country’s east coast. They analyze the government-commissioned study by U.S. firm Act-Geo, the many unknowns surrounding the reserves and the potential economic and market implications of the news. Next, the duo examines the recent election of South Korea’s National Assembly Speaker, Woo Won-sik, and the jockeying among lawmakers to lead various committees in the 22nd National Assembly. They then turn to the ongoing tensions between South Korea and Japan, discussing the recent agreement to put aside differences over the 2018 radar lock-on dispute and the divergent narratives in South Korean and Japanese media regarding Japan’s withdrawn request for South Korea to accept the use of the “rising sun” flag by the Japanese Maritime Self-Defense Force. The conversation shifts to South Korea’s role as chair of the U.N. Security Council for a month, with Jeongmin and John exploring the largely symbolic nature of the position, the potential pressure on South Korea to speak out on global affairs and the likelihood of the country using the opportunity to highlight North Korea’s sanctions violations and human rights abuses. Finally, the co-hosts wrap up by discussing the recently concluded Korea-Africa summit, the agreements reached on trade, business cooperation and sustainable resource development and the challenges South Korea faces in competing with established players in the African market. About the podcast: The Korea Pro Podcast is a weekly 15-minute conversation hosted by Editorial Director Jeongmin Kim (@jeongminnkim) and Editor John Lee (@koreanforeigner), diving deep into the most pressing stories shaping South Korea — and dissecting the most complicated ones for professionals monitoring ROK politics, diplomacy, culture, society and technology. Uploaded every Friday. This episode was recorded on June 5, 2024  Audio edited by Joe Smith