國際社會中國家面對崛起強權，在權力平衡結構下為求生存，除加強自身實力或尋求盟友外，通常採取「避險戰略」。中小型國家避險在於不加入任何一方主導的國際秩序，目的在同時改善雙邊關係，以獲取經濟利益並削減威脅。本文分析南韓前總統文在寅為解決朝鮮半島問題，在美、中之間採取「避險戰略」，文在寅繼承金大中、盧武鉉時期的「陽光政策」，希望能透過和平談判，解決南、北韓長久以來對峙；對美國方面，文在寅調整李明博時期標榜親美外交政策，與美國保持適當距離；對中國方面，因朴槿惠卸任前同意美國在星洲部署薩德飛彈系統，導致韓、中關係陷入僵局，上任後積極修復與中國關係。換言之，文在寅在美、中之間採用「雙邊下注」而非傳統上應對大國的壓力。因此，採取「避險戰略」將可開創更大的外交空間，在不過於依賴美國或中國下解決北韓問題。

Facing the rising powers in the international community, especially under the structure of balance of power, most medium and small-sized states adopt “hedging strategy” in addition to strengthening their own power or seeking allies with other countries for survival. Hence, “hedging strategy” means that states do not join the international order dominated by any party in the world. The main purpose of this strategy is to improve bilateral relations in order to obtain economic benefits and reduce threats. This article analyzed the reasons why South Korean former president Moon Jae-in adopted hedging strategy between China and the U.S. to resolve the Korean Peninsula issues. Moon Jae-in inherited the “Sunshine Policy” implemented under Kim Dae-jung and Roh Moo-hyun in the past. This policy was the way to resolve the long-term standoff between States in the Peninsula through peaceful negotiations. The main finding of the current study was that Moon Jae-in's policy toward the United States was to maintain an appropriate distance from the U.S., which was different from the foreign policy of Lee Myung-bak's period. Moon Jae-in's policy toward China was to actively mend fences with it because former president Park Geun-hye agreed to deploy the THAAD in Sin Chew and led to a stalemate in relations between the two states. In other words, Moon Jae-in employed the “hedging bets” between the United States and China to address the conflict between South and North Korea. Therefore, adopting the “hedging strategy” could create greater diplomatic space to address the North Korea issue without leaning too much on the U.S. or China.