The European Union and the Korean Conundrum

From the distance of Europe, Korea is a comparatively unknown and apparently obscure part of Asia, especially when compared with its pow¬erful neighbours on the peninsula - China and Japan. Yet South Korea has become a major economic power in its own right, revitalized now after the setbacks of the Asian financial crisis, while the awkward and complex relationship between South and North Korea ensures that the peninsula remains one of the world's 'hot-spots' of geopolitical and strategic inter¬est. Consequently, the commercial successes and attractions of the South and the convoluted and at times fraught interactions between the two Koreas and the four major powers most heavily involved in the peace and security of the peninsula mean that Europeans cannot afford to ignore Korea. This chapter endeavours to outline the extent of the stake for Europeans, economically, politically, and strategically, in the Korean peninsula, analyze how recent trends are impacting on that involvement and discuss how the Europeans might be further involved. In addition, in the context of the continuing debate about the effectiveness and fea¬sibility of the European Union (EU) moving towards a common foreign and security policy (CFSP), the relevance of the Korean case will be discussed.