Monday, November 25, 2002

HUGE POLITICAL DEVELOPMENT IN THE ROK: Chung Mong-joon has agreed to withdraw from the presidential race. I didn't think this would happen but it appears that Chung and MDP candidate Roh Moo-hyun have learned from history: every past ROK president was elected with a plurality largely because opposing figures split the vote. ROK voters are now presented with a rather stark choice: front-runner Yi Hoi-chang (often rendered in English as Lee Hoi-chang) is older, more conservative, promises to be more lenient toward South Korea's huge chaebol conglomerates but harsher toward North Korea. Roh, a self-taught lawyer, promises to continue President Kim Dae Jung's "sunshine policy" towards the North, promises to continue to push for chaebol reform and workers' rights, and crusade against corruption. In terms of relations with the North, the ability of either candidate to maneuver will be sharply constrained by the policy-line coming from Washington. But there is some wiggle room in domestic issues. This is truly history-making stuff!

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