In this way, the global economy also has much riding on Kim's success. Until 1997, much was going right in here. After the crisis, most things that could go wrong did. Now, South Korea's back on track and poised to grow 5 percent this year.
If South Korea stays the course and living standards continue rising, pro-globalization forces will have their argument to keep markets open. If not, the trends toward market opening could slow down. That's not because protesters and activists want them to, but because leaders of key nations may be forced to close their economies, making them less vulnerable to the whims of markets.
The good news is that Kim's government remains committed to the global economy. If ever there were a time for South Korea's emergence on the world stage, this is it. South Korea, more than ever, is thinking about its role in the world and what it can do to contribute to Asia and the global economy.
This is hardly the first time South Korea has grappled with such questions. But tectonic shifts reshaping Asia also are forcing the issue. Japan is in perpetual recession. China, meanwhile, will be a dominant player someday, but for now it's a communist nation without an international currency. South Korea's importance is rising, both economically and geopolitically.
It's happening slowly, but it's occurring. South Korea's rise has much to do with its economy.
"It seems to me Korea is now struggling with the world's advanced economies," says Eric Berthelemy, chief executive officer of Societe Generale in Seoul. In other words, South Korea is no longer a developing economy.
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