ABSTRACT
Expanding economic ti es have distinguished the U.S.-Republic of Korea (ROK) alliance over the past decade. Friction was apparent in earlier transitions from Korea's aid dependence, to rapid economic growth, and then to interdependence. The changes continue today, with no consensus as yet in South Korea on the benefits of the new global economic partnership with the United States. Indeed, efforts to reorient the Korean economy from a highly nationalistic state-business alliance to the AngloSaxon model of a more liberal, open economy draw fierce opposition, prompting strong anti-American sentiments. The fact that foreigners hold 36 percent of publicly traded stocks in South Korea causes widespread concern. 1 Foreign domination of the Korean liquor market and the impending sale of the venerable Jimo Liquor firm to foreign interests have been widely publicized.
