South Korea: Staying on the Fast Track August 15th is Restoration of Light Day in South Korea, when the country celebrates its liberation from Japan's colonial rule. Every year, the President gives a speech on this day, usually devoted to South Korea's relations with Japan and North Korea.
This year, however, President Lee Myung-bak overturned tradition by speaking mostly about domestic issues, especially welfare and the economy. Why the change?
A key reason is the economy. South Korea's Gross Domestic Product had been expanding by 4 to 5 percent in recent years. Recovering quickly from the 2008 global slowdown, growth last year exceeded 6 percent. Observers say this has made the people confident, assured that South Korea has secured its place among industrialized countries. As a result, the national preoccupation with surrounding countries is abating.
But success brings new challenges for the country's leaders. Maintaining high growth has become a prerogative. In this program, we look at whether they are up to this challenge. President Lee has one-and-a-half years left to serve. Can he avoid becoming a lame duck? Who are his likely successors, and what policies will they be pursuing? We look for answers with input from an expert.
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