WELCOME TO KEI...

Welcome to the Korea Economic Institute (KEI).
One of KEI's most important missions is to broaden and deepen understanding among Americans about developments in Korea and the value of the U.S.-Korea relationship. Through its publications, outreach programs, and website, KEI offers access to current information and analysis. By exploring our ever changing website, you will become acquainted with the essence and mission of our unique organization and learn more about the significance of the U.S.-Korea partnership. You can now follow KEI via Twitter and Facebook (see our website for details).

This year marks the 60th anniversary of the start of the Korean War. It is important to note because the modern U.S.-Korea relationship was forged as a result of a common commitment to preserve freedom that was threatened by the Korean War. The security relationship that developed as a result has served our two nations well. During the Vietnam War, South Korea provided military support to the United States and has time and again risen to the occasion in support of our common goals throughout the world. During the Iraq war, Korea provided the third largest contingent to the multinational efforts in Iraq. This year Korea will prove several hundred troops for the reconstruction of Afghanistan. Over this same period of time, South Korea has risen from the devastation of the Korean War to become one of the United States' most important economic partners. South Korea's economy has grown rapidly and is now one of the largest in the world, with a GDP approaching $1 trillion. It is the United States' 7th largest export market.

On February 2, 2006 the United States and South Korea announced their intention to negotiate a Free Trade Agreement (FTA) before the U.S. president’s Trade Promotion Authority expired in mid-2007. Through very tough negotiations and determination by both sides, an agreement was reached in early April 2007 and then signed in Washington on June 30, 2007. Ratification is required by both the U.S. Congress and the ROK National Assembly. During their Summit meeting in Seoul at the end of 2009, both President Obama and President Lee pledged to move forward on ratification of the KORUS FTA.

South Korea’s president, Lee Myung-bak, was inaugurated on February 25, 2008 and will continue in office concurrent with the term of President Barack Obama. The Obama administration renewed America’s presence and commitment to Asia in 2009. Secretary Hillary Clinton’s first overseas trip was to Asia with South Korea as one her stops. President Obama met with President Lee on several occasions in London, Pittsburg, Washington, Singapore and Seoul. The effort by both governments to improve the relationship was deliberate and has already begun to pay dividends. Both countries will focus on economic recovery in 2010 with Seoul hosting the G-20 Summit in November.

In August 2008 KEI moved to new and larger facilities. These new facilities have allowed us to accommodate even larger programs as we strive to bring you the most interesting and informative programs on U.S.-Korea relations. Many of our events are video-taped and available for viewing on our website, for those of you who cannot make a particular program. We are particularly pleased with the success of our Academic Paper Series. The first three volumes of On Korea, the compilation of the Academic papers we commissioned by authors throughout the world, have a diverse and somewhat unique set of topics you will find quite interesting. On Korea is rapidly becoming required reading in many university programs. Another special project that I commend to you is our recently published book, Ambassadors’ Memoir: “U.S.-Korea Relations through the eyes of the Ambassadors.” Eleven U.S. and Korean Ambassadors serving in Seoul and Washington recorded their thoughts about the issues they faced during their tenure. It is a unique snapshot on U.S.-Korea relations from an ambassador’s perspective. It is being translated into Korean this year and updated with the addition of at least two new chapters by ambassadors who were not able to contribute to the first edition. A second English edition is planned for 2011.

KEI is a not-for-profit, educational organization affiliated with the Korea Institute for International Economic Policy (KIEP), a public policy research institute located in Seoul and funded by the South Korean government. KEI focuses its efforts on all aspects of the U.S.-Korea relationship. KEI does not lobby; it welcomes a diversity of views.

Charles L. (Jack) Pritchard
President