About 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 about issues that affect the relationship overall and Korea in general. While KEI covers all aspects of the relationship, about half of all of our programming and publications are economic-related. 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). One of the more exciting developments at KEI was the launching of our podcast series, Korean Kontext, during the last quarter of 2010. I encourage you to subscribe to it. You will be treated to fascinating interviews on a wide range of topics. Korean Kontext former host, Martha Legocki, was the first to interview James Church, author of the Inspector O novels. Meanwhile, the new host, Chad O'Carroll is bringing his own unique style and whole new line up guests to interview including Daniel Dae Kim, actor and star of Lost and Hawaii 5-0.
2010 marked the 60th anniversary of the start 
of the Korean War. Unfortunately, we were reminded on two tragic instances that tensions can flair without warning. On March 26, 2010 North Korea sank the South Korean Corvette, Cheonan, killing 46 sailors. Then again on November 23, 2010, North Korean artillery fired upon the South Korean island, Yeonpyeong, killing 4. South Korea and the United States stood together in those troubling times just as they have since the Armistice was signed in 1953. It was an important reminder that 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. Last year Korea proved several hundred troops for the reconstruction of Afghanistan. With the death of the North Korean leader in late 2011 and the uncertainty of the permanence of the transition of power, the U.S.-Korea security relationship will take center stage in 2012.
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. During the G20 meeting in Toronto in June 2010, both President Obama and President Lee reiterated the significance of the agreement and pledged to move forward on ratification. This led to a final agreement on minor adjustments to the original FTA in December 2010 that resulted in formal ratification by both the United States Congress and the Korean National Assembly in latter part of 2011.
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 two presidents have demonstrated a genuine respect and friendship for each other. This has been manifest in the many meetings between the two whenever the opportunity arises. The effort by both governments to improve the relationship has been deliberate and has already begun to pay dividends. Seoul successfully hosted the G-20 Summit in November 2010 and is host to the 2012 Nuclear Secuirty Summit. 2012 may bring a number of changes throughout the region as the Korean National Assembly holds elections in April and the Korean presidential election will be held in December. The U.S. congressional and presidential elections are 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. 
We set a new record in early December 2010 when KEI hosted Dr. Sigfried Hecker following his most recent trip to North Korea. There were over 130 people and 19 TV crews in attendance. Many of our events are video-taped and available for viewing on our website, for those of you who cannot make a particular program. Check out our schedule of upcoming events as some of the programs will be live-streamed. We are particularly pleased with the success of our Academic Paper Series. The first five 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 was translated into Korean last year and updated with the addition of 
two new chapters by ambassadors who were not able to contribute to the first edition. A second English edition is planned for late 2013. In 2011 we expanded our popular Korea’s Economy by adding commentary sections where senior experts and officials like former Federal Reserve Chair Paul Volcker, Dr. Fred Bergsten, Dr. Sakong Il and Former Prime Minister Han, Seung-soo can provide short perspectives on global issues and rebrand the journal with a new look.
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.
