As the specter of a second Donald Trump presidency looms large, the world scrambles to brace for his possible return to the White House. South Korea is no exception as it too must prepare for Trump 2.0.

Since its inauguration in May 2022, the Yoon Suk Yeol administration has been concentrating its efforts on strengthening its alliance with the United States and its extended deterrence and via trilateral cooperation, which, of course, includes Japan.

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However, Trump, an overwhelming favorite to secure the Republican nomination for the 2024 race, continues to advance his America First policy. However, this approach does not respect the alliance and does not place much importance on the ROK-U.S. alliance or Korea-U.S.-Japan cooperation — unlike his successor Joe Biden who seeks to revitalize alliances and partnerships to address current and future challenges — therefore, a possible second term for Trump may cause great confusion for Seoul.

Trump 2.0 could see an escalating rivalry with China amid continuing tensions over maritime security, technological leadership and trade among others as he did during his first term in office.

The Biden administration has adopted a "de-risking" drive, aiming to reduce risks associated with economic and trade dependency on China, rather than a decoupling strategy, which would entail a complete separation from China in key industrial supply chains.

However, should Trump win the White House again in November, decoupling from China could be back on the cards amid intensifying hegemonic competition. This would undoubtedly raise concerns that South Korea may face a dilemma once again because the U.S. is a long-time security ally, while China is its top trading partner.

Taking a closer look at regional security, the move to strengthen extended deterrence against escalating North Korean nuclear and missile threats may lose steam, which could spark concerns here about the credibility of the U.S.' extended deterrence for its ally South Korea.

During Trump's tenure from 2017 to 2021, he often criticized South Korea for getting a free ride because it is protected by the U.S. military. In addition, he unilaterally suspended U.S. military exercises with South Korea after his historic meeting with North Korean leader Kim Jong-un in June 2018.

Such worries concerning the maintenance of stronger extended deterrence may be dealt a fatal blow, causing extreme consternation for the Yoon administration, which has emphasized that the ROK-US alliance has been upgraded to a nuclear-based alliance, thereby reigniting calls for Seoul to possess its own nuclear weapons.

This was further indicated by First Deputy Director of National Security Kim Tae-hyo who said in December that South Korea and the U.S. will build a fleshed-out nuclear extended deterrence system around June this year. Many believe that his remark was aimed at maintaining the credibility of the U.S.' extended deterrence even if Trump wins the presidency.

In addition, given that a Trump presidency is expected to resume dialogue between the U.S. and North Korea, the Yoon administration — with its hardline stance on Pyongyang — may find itself in an awkward position. Worse still, should Trump, who is often careless with allies, and Kim, who recently characterized inter-Korean relations as those of two hostile countries, discuss North Korea's nuclear issue without South Korea, it will cause additional suffering and annoyance for the Yoon administration.

As a matter of fact, Politico, a U.S. media outlet, reported in December that Trump was considering a plan where he might be interested in negotiating an arms control agreement with the North that would allow it to keep some of its nuclear weapons as well as offering the regime financial incentives to stop making new bombs.

In addition, Trump is hinting at imposing a new 10-percent tariff on all imported goods, while abolishing environmentally minded policies, a blow to the Korean battery industry.

Amid concerns of a second Trump presidency, other countries, including Japan, are starting to prepare for his possible return.

According to Japan's Asahi Shimbun, former Prime Minister Taro Aso tried to meet Trump during his recent trip to the U.S. in order to build a relationship with the Trump Team.

Who will win the White House has been one of the most important issues – if not the most — to South Korea as the implications of U.S. policies on South Korea's security, diplomacy and economy are significant.

In that sense, the South Korean government needs to fully activate its diplomatic channels to gear up for Trump's possible return and other possible outcomes from this fall's U.S. presidential election to effectively deal with the possible fallout of Trump 2.0.

The writer is the politics desk editor.