In this episode of The Korea Pro Podcast, John and Joon Ha, Korea Pro’s junior correspondent, discuss South Korea’s recent diplomatic and economic initiatives in the Asia-Pacific region. The hosts begin by examining President Yoon Suk-yeol’s diplomatic tour through Southeast Asia, focusing on the president’s state visits to the Philippines and Singapore, exploring the implications of these strengthened bilateral ties for South Korea's regional influence. The conversation then turns to the newly established Comprehensive Strategic Partnership with ASEAN. John and Joon Ha discuss the significance of this agreement, particularly its emphasis on supply chain resilience, smart cities and green energy collaboration. The duo then delve into the recent defense talks between South Korea and Japan, considering how these discussions fit into the broader context of trilateral cooperation with the United States and the response to North Korea’s growing military ties with Russia. John and Joon Ha then shift gears to discuss South Korea's inclusion in the FTSE Russell World Government Bond Index (WGBI). They break down the importance of this development, discussing the potential for substantial foreign capital inflows and its implications for South Korea’s bond market and overall economy. They also explore the challenges that come with this inclusion, such as regulatory uncertainties and the potential for increased market volatility. 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 Oct. 10, 2024 Audio edited by Gaby Magnuson