South Korea is unwilling to be a regional country, so it chooses to serve as a bridge in Asia to increase its importance in the world. Although it is the second most advanced industrial country in Asia and the 11th most developed country in the world, its limited diplomatic range and low political position in the world make it beholden to great powers in political, economic and security fields. The Lee administration is eager to change the current situation and give South Korea its own voice in the world. The initiative reflects this desire.

Lee believes South Korea has an advantage over China and Japan when dealing with other Asian countries. Historical experience with China and Japan has made some Asian countries suspicious, because the two countries are powers in the world. South Korea approaches Southeast Asia not as a power but more as an equal. Lee thus believes Southeast Asian countries can easily relate to South Korea.

The way South Korea develops its economic and political structures can also serve as a reference for other Asian states. Since World War II, South Korea has grown from a small and poor colony to a developed country. It can share its experience and develop trade and economic cooperation with small and medium-sized Asian countries based on the similarities between them.

The new diplomatic policy could also help the Lee administration regain domestic support. Lee once made a promise known as "747." He promised that during his term the country's economy would grow 7 percent each year, per-capita gross domestic product would reach $40,000, and the country would become the seventh biggest economy in the world. After a year, none of his promises has become reality, and the economy is starting to see negative growth as unemployment climbs. In domestic politics, Lee is criticized for cronyism and elbowing out other parties. Moreover, relations between South Korea and North Korea have grown tense. Lee's approval ratings have dropped as low as 20 percent over the past year. By proposing the initiative, Lee demonstrates his administrative ability to the public and the opposition, deflects attention from domestic conflicts, passes through the crisis of trust and cements his position as president.

Uncertain future

South Korea has been developing its relations with Southeast Asia and the South Pacific since 1989, when it began dialogue with ASEAN. Over the past 20 years, the two sides have conducted cooperation in the areas of politics, trade, investment, tourism, culture, and science and technology under the 10+3 and 10+1 frameworks. Last year, South Korea and ASEAN began implementing a free trade agreement. During Lee's visit to Australia and New Zealand, the two countries were very receptive to his suggestion of signing free trade agreements. Indonesia also promised to offer South Korea 200,000 hectares of forestland to explore clean energy. South Korea will host a special 10+1 summit in June. The summit will test Lee's "New Asia Initiative," and it also might become a landmark in the initiative's implementation.

Lee paid visits to Uzbekistan and Kazakhstan from May 10 to 14, his first Central Asian trip since assuming the presidency. Lee signed more than 20 agreements and memorandums with his two counterparts concerning different areas such as mining, oil, gas, telecommunications and agriculture. As the first step in carrying out the initiative, his visits made considerable achievements. South Korea's original plan was to open new material suppliers and markets. But as these agreements with Uzbekistan and Kazakhstan combine South Korea's capital and advanced technology together with the two countries' resources, they also create a win-win result. In the future, South Korea will continue to push forward its relationships with Central Asian countries. This could be effective to develop the country's economy and raise its position in the world.

South Korea's "New Asia Initiative" has special significance against the backdrop of the global financial crisis. By implementing the initiative, South Korea will hopefully find new economic growth points and increase the country's importance in the world. The initiative could also stir active efforts to revive Asia's economy and promote regional integration and stability.

But South Korea is not a big country, so its ability remains limited. It is still doubtful how effective the initiative will be. South Korea's technological level is lower than that of Japan, and its market capability and development potential can't compete with China. Its economic scale and influence cannot even be mentioned in the same breath with China and Japan. Moreover, there are U.S. economic and political influences everywhere in Asia. South Korea has a tradition of relying on big countries. Therefore, it has a long way to go to reach the goals set in its initiative.

The author is with the Division for Korean Peninsula Studies, China Institutes of Contemporary International Relations