So that begs the question.... what can South Korea do to lessen or even divert those risks?

The biggest risk the country's facing is the trade battle between the U.S. and China... and it should be considered as a constant variable... and South Korea needs to prepare for that.
Although a temporary truce has been forged... the tit-for-tat tariffs are viewed by some as merely being a cover for a fight for hegemony in the economic, technological and defense sectors... as China challenges the U.S.
One option is to have a united voice to empower the World Trade Organization in the face of rising trade disputes... which is in deadlock after Washington blocked appointments to its appeals chamber that settles disputes.
In response, the EU Commission has set forth proposals to reform the WTO so the multinational body can better deal with issues... such as industrial subsidies... and tariff threats,... especially those coming from the Trump administration.