ed How Park Geun-hye will be remembered

By Lee Chang-sup

President-elect Park Geun-hye has already broken several records — the first woman president, the president with the highest number of eligible votes, the first unmarried president and the first who has served previously as a first lady. Now, people want to know how she will lead the country. Many wonder how Park will be remembered later.

In a meeting with her advisors this weekend, Park gave Koreans a glimpse of her political agenda, conveying her intention to micromanage the economy. First, she mentioned her plans for fostering small-and medium-sized companies, including reducing vendor fees imposed by department stores, creating tax-incentive deposits for workers at small companies and establishing a database for recruiting workers for small firms.

Additionally, she laid out her plans for taxes and welfare. For one, she vowed to phase out $30 billion in tax exemptions and deductions. She also urged lenders to stop demanding joint guarantees from multiple borrowers. She pledged to create an $18 billion fund to support the financially troubled. Further, she promised to increase welfare for the elderly and write off half of overdue student loans.

Despite her lengthy agenda, however, Park failed to mention other important things she needs to take care of as incoming president. For instance, she didn’t mention how Korea could compete in the global economy, something that many Koreans worry about. When her father was in office in the 1960s and 1970s, the economy grew by three to four times the world average each year. During this period, a seven percent growth was considered a recession. Today, however, it seems the formerly strong economy has lost momentum. For instance, for the past five years, the economy grew by only 2.9 percent annually, well below the emerging market average.

Similarly, Park has yet to mention her take on foreign policy, particularly how she plans to handle North Korea. Although the United States has imposed extensive sanctions and has taken a hard stance on North Korea, its focus has shifted as it attempts to rebuild its own economy after a recession. At this point, Park needs to decide how South Korea will treat its neighbors to the north.

Park hasn’t outlined a plan for domestic issues like human rights, freedom of expression and unity either. Many believe Korea’s human rights have regressed over the years. Freedom of expression is also a lingering problem in the country. During Park’s campaign, she repeatedly said her administration would unite the people. Now, people want to know how she plans to make that campaign pledge a reality.

There is no question Korea is divided economically, ideologically and politically. On each crucial issue, conservatives and liberals are unable to compromise. Park has a difficult task of bringing political leaders together. Equally serious is the economic polarization between the rich and the poor, large and small firms, and regular workers and irregular workers. She runs the risk of getting buried under a number of divisive issues, but to lead, she must outline her plans and look to her ministers for help in carrying out her initiatives.

With so many daunting tasks ahead, it’s likely Park will look to her father’s success and failures for guidance. Many Koreans remember her father’s grand dream and philosophies, which he propelled Korea out of poverty. However, Korea is much different from it was when her father was in charge. In 1962, when Park Chung-hee took office, the per-capita GDP was $87. Now it is more than $22,000. GDP was $63 billion in 1979 when he died. Now GDP exceeded $1 trillion. Companies like Samsung, LG, SK and other conglomerates have multiplied in size, creating a business landscape that is vastly different from that of the 1960s and 1970s.

Park will take the reins of power fom President Lee, who was criticized for his lack of governing philosophy. While many Koreans saw Lee as a workaholic, the public also felt Lee changed key policies on a whim. Right now, Koreans are looking for direction. They aren’t looking for specific details on every issue, but they want to hear about Park’s vision for the country. Thus, micromanaging the economy or the country is not the answer.

In the book, “The Korean Presidents: Leadership for Nation Building,” author Kim Choong-nam described what each of Korea’s past presidents was known for. He named Syngman Rhee as the founder of the nation; Park Chung-hee as the architect of modern Korea; Chun Doo-hwan as the one who pushed Korea toward the First World; Roh Tae-woo as the president of democratic transition; Kim Young-sam as the president of democratic reform; Kim Dae-jung as the advocate for reunification; and Roh Moo-hyun as the leader who attempted a social revolution.

As Park gets ready to take the oath of office on Feb. 25, she needs to think about not only how she will lead but also how she will be remembered. Will she forge her own path to rebuild Korea ? Will she be the first president to create a unified Korea or will this be an unobtainable goal?

As she is sworn into office, Koreans will look to her to lead by example, unite the people and face the country’s economic and political struggles with careful planning and action.

Lee Chang-sup is the exeutive managing director of The Korea Times. Contact him at editorial@koreatimes.co.kr.