No soon after I post an article speculating that South Korea is pursuing a policy of neutrality here comes President Moon’s trial balloon expert advocating for this exact policy:

South Korea should work together with Australia, Canada and Japan to form regional economic or security frameworks so as to create a new order free from the burden of choosing sides between the United States and China, an adviser to President Moon Jae-in said Friday.
Moon Chung-in, special foreign policy and security adviser, made the remarks during a virtual seminar, stressing that it is very unlikely the tensions between Washington and Beijing will get any better under the next U.S. administration of Joe Biden.
“The Biden administration will be using a softer tone, but the policy will be as tough as Trump’s. There will be a tougher American encirclement of China, although he might be more selective in terms of technology and economy,” he said in the seminar hosted by the Korean Association for Public Diplomacy.
“That will put us in an extremely difficult position. It will restore the old ‘bloc diplomacy’ … in the form of a new Cold War,” he said.
Moon added that a worsening of U.S.-China tensions will make it difficult to resolve the North Korea issue peacefully.
Yonhap
You can read more at the link, but the Cold War era strategy worked and served South Korea’s national interest very well.