This combination of photos shows Vice President Kamala Harris, left, on Aug. 7, and Republican presidential candidate former President Donald Trump, July 31. AP-Yonhap

Regardless of who wins the U.S. presidential election, the outcome is expected to significantly impact South Korea's national interests, particularly the U.S.-South Korea alliance and East Asian security, according to political analysts on Thursday.

At a forum titled "The U.S. Presidential Election, the Restoration of the Russia-North Korea Alliance and South Korea's Nuclear Strategy," hosted by The Sejong Institute, a Seoul-based think tank, U.S. and South Korean experts discussed how the change in U.S. administration could see it shift its policies regarding the Indo-Pacific region and affect its alliance with South Korea.

Two U.S. experts assessed how the outcome of the U.S. presidential race could change the United States' commitment to the alliance and the Indo-Pacific region.

Jennifer M. Lind, professor of government at Dartmouth College, said a Kamala Harris victory would reassure South Koreans that the U.S. would continue to station military forces on the Korean Peninsula.

"If elected, Harris is expected to follow the Biden administration's policy with respect to the U.S. alliance with South Korea and its nuclear umbrella against North Korea's nuclear and missile threats. She would oppose South Korea developing its independent nuclear arsenal," Lind said, adding that the Biden administration has engaged in bilateral diplomacy with President Yoon Suk Yeol, notably at the 2022 summit in Washington, to dispel concerns over whether the U.S. nuclear umbrella remains a credible deterrent.

However, she argued that the shift in the global balance of power from U.S.-dominated unipolarity to bipolarity, along with the enduring appeal of the anti-globalization backlash in the U.S., could pose challenges to South Korea's future foreign policy direction.

"South Korean hedging vis-a-vis China and North Korea's growing ability to strike the U.S. with nuclear weapons has significantly raised the risks of the alliance to the U.S.," Lind said.

Daryl G. Press, professor of government at Dartmouth College, said a second Donald Trump presidency wouldn't disrupt the U.S.-South Korea alliance because the two have substantial shared interests on every issue — the economy, international governance, markets and peace and stability on the Korean Peninsula.

"Trump will say things like burden-sharing that will frustrate South Korea, but the foundation of the alliance will remain strong," Press said.

Press, however, pointed out two sources of tension for U.S.-South Korea relations. "The first is the asymmetry at the core of the U.S.-South Korea alliance. The reliability of U.S. promises on nuclear assurance comes into question as North Korea's nuclear arsenal matures and begins to hold the U.S. mainland at risk," he added.

He noted that the Washington Declaration failed to fix the problem of deterrence. Instead, it was aimed at reassuring its allies of the U.S.' extended deterrence and increasing visibility.

"If Trump is reelected, his administration will likely make (an) adjustment to the U.S. nuclear posture. The U.S. arsenal size would likely grow, and some modernization efforts would move forward. South Korea could provide the additional security its partner needs as it stands out among U.S. allies in actual military capabilities," he said.

Daryl G. Press, professor of government at Dartmouth College, second from left, speaks at a forum titled "The U.S. Presidential Election, the Restoration of the Russia-North Korea Alliance and South Korea's Nuclear Strategy" in Seoul, Thursday. Courtesy of The Sejong Institute

South Korean experts discussed the necessity of South Korea's nuclear armament.

"Nuclear-armed South Korea can effectively deter North Korea's attack more than the U.S. extended deterrence. The balance of terror between the two Koreas can contribute to peace and stability to the peninsula. By removing the need to deploy strategic assets, it is likely to relieve the financial burden for the U.S.," Kim Min-hyung, professor of political science at Kyung Hee University, said.

He also shared the cons of South Korea's nuclear armament, saying, "It could reduce the possibility of a nuclear war but increase low-intensity conflicts and result in regional instability. It could also weaken the role of the U.S.-South Korea alliance in security."

Lee Jeong-kyu, former South Korean ambassador to Sweden and another advocate of the country's own nuclear armament, argued the Washington-Seoul alliance would presumably be upgraded to a "nuclear alliance."