The restructuring of the global supply chain in manufacturing asks for the simultaneous reorganization of the financial service supply network to support more efficiently the newly emerging de-globalized Indo-Pacific economic system. Considering the reality that about 53% of cross-border assets on the global level are operated in OFCs, the role of OFCs is very significant in the global financial service supply chain. At the same time, the share of East Asian OFCs such as Singapore and Hong Kong in the global financial service supply chain is increasing all the more. However, considering that Hong Kong is actually the major channel for investment funds to mainland China, a new OFC in East Asia is necessary especially to support more efficiently the reorganized global supply chain in manufacturing and the de-globalized Indo-Pacific economy.
In this situation, the establishment of Jeju OFC is not a choice but a must for Korea, as Korea is now recognized not as an emerging economy but as a new axis of advanced economy in East Asia. It has a full potential to serve the continuous development of the newly emerging Indo-Pacific economy.