1988 was a crucial year for the Republic of Korea. On the one hand, the nation witnessed the first peaceful transfer of power in its history in February, when Chun Doo Hwan turned over the presidency to his successor. In September, Korea became the focal point of world interest during the Olympics. The important event gave Korea the opportunity to display the fruits of the significant economic and social developments of the past two decades. But problems accompany bright prospects. Korea's success has created trade friction with the U.S. Across the DMZ in Pyongyang, North Korea remains a bitterly hostile enemy. With these issues in mind, the Center for East Asian Studies invited experts to a special symposium. The insightful papers they presented comprise this volume. Co-published with the Center for East Asian Studies.