South Korea is considered one of the US’s most important economic partners in Asia with the USA and South Korea being allies since the 1950s. This is mainly due to the US intervention at the Korean peninsula and consequently fought the North Koreans – over 3 years 33,000 US troops were killed with approximately 100,000 killed. Under the military alliance the US is forced to help the South Korean’s defend themselves in case of any war and hence the US has 28,500 troops situated in South Korea. South Korea is the US’s 7th largest trading partner while the US is the South’s 3rd largest trading partner. The common issue of North Korea and dealing with them remains a prominent issue in the USA – South Korea relationship and the new election of President Park whose calls for a toughness and flexibility towards the North will cause challenges for the US – South Korean policies. The “ Strategic Alliance 2015 “ revealed by Washington and Seoul which aims at relocating US troops onto the Korean peninsula and to help improve the South’s defensive capabilities. On April 24, 2013 USA and South Korea agreed on a two – year extension of bilateral nuclear cooperation agreement with new President Park making statement regarding North Korea, that a nuclear North Korea will not be tolerated and that building trust will be impossible if the capital of North Korea, Pyongyang doesn’t abide by the polices set by South Korea and other countries and that they will no longer tolerate Northern Korean military attacks and such attacks will be met with immediate South Korean response. In response the firm stance of the South Koreans, the US have demonstrated their commitment to defend the South through the use of B-52 bombers, F – 22 fighters etc. The US – South Korea alliance has had an overall deepening of defensive ties and coordination due to the provocations by North Korea. (Emma Chanlett-Avery, 2013)
The 5 main factors which drive the relations between US and South Korea are:
- Challenges posed by North mainly due to its weapons of mass destruction and fears revolving around Kim Jong – Un’s new regime
- Growing desire of the South Korean leaders to play a larger role in the world
- Influence of China in North East Asia
- The transformation of South Korea into one of the world’s leading economies
- Democratisation of South Korea
The 5 main factors which drive the relations between US and South Korea are:
- Challenges posed by North mainly due to its weapons of mass destruction and fears revolving around Kim Jong – Un’s new regime
- Growing desire of the South Korean leaders to play a larger role in the world
- Influence of China in North East Asia
- The transformation of South Korea into one of the world’s leading economies
- Democratisation of South Korea
Figure 3.4: Table showing the Annual US - South Korea Mechandise TradeSource: http://www.fas.org/sgp/crs/row/R41481.pdf
In terms of economics, South Korea and USA are major economic partners with trade in 2012 between the two countries totaling approximately around $100 b. Figure 2, a data table, on the left shows that total trade grew by 1.6% from 2011 to 2012 and during the period of recovery following the economic downturn US exports declined by 2.8% and US imports increased by 4.1% with the two way goods trades amounting to roughly $88 bn in 2010. These statistics highlight the gradual increase in the economic relations between the two countries, symbolic of their improving alliance. (Revere, 2013)
In terms of economics, South Korea and USA are major economic partners with trade in 2012 between the two countries totaling approximately around $100 b. Figure 2, a data table, on the left shows that total trade grew by 1.6% from 2011 to 2012 and during the period of recovery following the economic downturn US exports declined by 2.8% and US imports increased by 4.1% with the two way goods trades amounting to roughly $88 bn in 2010. These statistics highlight the gradual increase in the economic relations between the two countries, symbolic of their improving alliance. (Revere, 2013)