ed Korea-US alliance

Action plans needed to forge closer partnership

President Lee Myung-bak’s visit to the United States this week has produced successful results as the two countries agreed to turn their defense and security alliance into a new economic partnership. The ratification of a Korea-U.S. free trade agreement (FTA) by Congress will serve as a stepping stone to upgrade the alliance.

We hope that Korea and the United States will work together more closely and on a more equal footing to open a new chapter in bilateral relations. It is worth attaching significance to Thursday’s summit between Lee and U.S. President Barack Obama, in which the two leaders committed to develop a better partnership for co-prosperity.

It is also important for Seoul and Washington to emerge as global partners to help solve different international issues such as an economic and financial crisis, climate change, poverty, terrorism and weapons of mass destruction. The new level of alliance between Korea and America will certainly contribute to promote peace and stability not only in Northeast Asia but also around the world.

Lee and Obama have pledged to join in efforts to cope with the ongoing global debt crisis. They have demonstrated their will to take measures to ensure currency stability. The two nations are likely to revive a currency swap deal that was introduced to provide foreign-exchange liquidity right after the 2008 global financial meltdown. Such a deal will help restore investor confidence in the market in times of crisis.

Also drawing attention is the two leaders’ decision to cooperate in establishing a democratic system in Libya and speeding up the reconstruction and rehabilitation of the war-torn North African state. Joint efforts for Libya are expected to help boost Korea’s international status and protect its economic interest in the region.

The two presidents also agreed to beef up collaboration in solving issues surrounding North Korea, including its development of nuclear weapons and its potential provocations against the South. Such collaboration is pivotal to getting rid of military threats from the world’s last Stalinist state and settling peace on the Korean Peninsula.

Now, we want to call on Seoul and Washington to take follow-up measures to faithfully implement all the agreements reached during the summit between Lee and Obama. The two governments are required to work out action plans to open a new page in the bilateral alliance. The one-time summitry cannot tackle all the pending issues of mutual concern.

First, Lee should exercise his political leadership to build national consensus on the Korea-U.S. free trade agreement (FTA) and persuade opposition lawmakers to go beyond partisan interests and approve the trade deal. Lee and his policymakers must also hammer out measures to support farming and other industrial sectors that will suffer damages from the FTA when it goes into effect.

The Lee administration needs to work hard to make sure that the stronger partnership with the United States will bring real benefits to the public. The FTA cannot be a success if large companies affiliated with family-controlled chaebol and a small number of rich people monopolize gains from free trade. It also has to take the initiative to bring North Korea back to dialogue to move toward denuclearization and national reconciliation.

The nation’s closer ties with America may cause concern for other neighbors, especially China, which has been trying to exercise more influence on regional and international matters with its growing economic and military power. Therefore, it is necessary for Seoul to maintain a balance in its diplomacy in order to have better future-oriented relations with other countries.