South Korean President Yoon Suk-yeol has made strengthening the alliance relationship with the United States a key part of his foreign policy positions. At the same time, South Korea continues to maintain a decent relationship with China, pursuing a precarious position to decide its role in the context of the growing US–China rivalry. The US has made the trilateral cooperation and close coordination among the US, South Korea, and Japan the centerpiece of its Indo-Pacific strategy, while South Korea and Japan have maintained their contentious relationship. The articles in this special issue address the challenges that South Korea faces today, focusing on two major themes in the contemporary era: first, how the US–China rivalry and power competition affect South Korea’s security and economic foreign policies, and second, how the bilateral tensions between South Korea and Japan affect regional security and alliance capabilities.