In this study, the corpus analysis approach was used to examine the risk communication strategies of Taiwan government and risk framing of traditional and social media regarding the New Southbound Policy. A total of 46,125 risk framing–related texts were collected from 5,026 web pages between September 2016 and December 2017 for analysis. This study indicates that compared with natural risk events, additional variables, such as the public’s political identifications, should be considered when examining issues related to the public’s risk perception and risk framing regarding policy changes. This paper also presents the strategies of risk discourse adopted by governments, traditional media, and social media.