Abstract. The election in the spring of 2022 of the representative of the opposition conservative party «The Power of the People» Yoon Suk-yeol as the new president of the Republic of Korea led to a significant adjustment of the priorities of domestic development and foreign policy. The new South Korean administration had to take additional measures to overcome the consequences of the coronavirus pandemic, including allocating budget funds to support small and medium-sized businesses. At the same time, changes were made to the strategy for the development of innovative industries. Among other things, tasks were set to ensure the growth of microelectronics and certain branches of mechanical engineering. At the same time, the country's leadership intends to strengthen the reorientation of the focus of foreign policy from the problems of establishing relations with the DPRK and resolving the situation on the Korean peninsula to the participation of South Korea in solving urgent security and development issues in the Indo-Pacific region and at the global level. Difficulties are associated with an attempt to link closer military-political ties with the United States with the preservation of partnership economic relations with China.