This panel discussion examined South Korea's economic and security policies from a variety of perspectives; including the domestic and external economic and security factors that South Korea must take into account in order to achieve its goals of long-term economic growth, security and regional integration. The panelists were: Yong Soon Yim, dean of the Graduate School, Sungkyunkwan University; David C. Kang, associate professor of government, Dartmouth College; Joseph A.B. Winder, then president of the Korea Economic Institute; Thomas J. Byrne, vice president and senior credit officer, Moody's Financial Institutions and Sovereign Risk Group; and David Rocks, senior news editor-Asia, Business Week. The presenters concurred in the view that South Korea currently faces a number of contrary signals regarding its economy and security. Although the South Korean economic outlook is stable, economic growth is below what is necessary to provide jobs for everyone entering the labor market. Although Seoul seeks to maintain close economic and security ties with Washington, skyrocketing trade with China, slowly expanding relations with North Korea, and policy differences with the Bush administration over North Korean nuclear and human rights issues are putting strains on the U.S.-ROK alliance. If President Roh Moo-hyun's Peace and Prosperity Policy is to be successful-including the related goal of establishing South Korea as a financial hub in Northeast Asia-the presenters agreed that the Roh administration must somehow find a way to increase growth and minimize the strains with the U.S. while building a closer economic and political relationship with China and continuing to improve its contacts with North Korea.

with

Yong Soon Yim
Dean, The Graduate School, Sungkyunkwan University

David C. Kang
Associate Professor of Government, Dartmouth College

Joseph A.B. Winder
President, Korea Economic Institute

Thomas J. Byrne
Vice President and Senior Credit Officer, Moody's Financial Institutions and Sovereign Risk Group

David Rocks
Senior news editor-Asia, Business Week

Thursday, March 3, 2005