Today is the day when Korea’s April student revolution in 1960 against dictator Seungman Rhee and 자유당 toppled down the Rhee regime and the evidenced rigged election. Coincidentally Korea’s April 15 general election turned out a victory of leftist ruling party over democratic opposition party winning over 180 seats out of 300 congressional seats. Majority of votes could allow the ruling party to amend, revise and change the current rules and even constitution when they induced more votes from scattered small parties enough to make two thirds votes needed to pass the bill to change the constitution in favor of socialistic nationalization of private ownership of wealth. April 19 student revolution was an event to democratization movement from dictatorial rule, while April 15 General election was a victory of the ruling party over democratic market economy. In our historic perspective, democracy and socialism and communism have been a class struggle and 6.5 billion global population divided into 2 billion socialistic country while 4.5 billion democratic market economy. Communism and socialism are adopted by Russia, China, Cuba, North Korea and few nations in South America and Africa out of 218 countries in the world. In the global  hegemony of power of  between US and China, Korean peninsula has been a hot potato in our modern history. Korean War between the year 1950 and 1953 symbolized the conflict between communist China and freedom loving UN and USA. Countries including Britain, Germany, French, Spain and many other freedom loving nations have enjoyed capitalism and its economic growth since the birth of capitalism that was invented by a British economist Adam Smith with his Wealth of Nations pursuing an efficiency, productivity, advanced technology and economic prosperity, coexisting with polarization of income inequality between the rich and poor, between advanced and underdeveloped nations and between two distinctive class-bourgeois and proletariat. Because of the inevitable income disparity emanating from capital formation and concentration that capitalism generates, socialism and communism find justification for their differing ideology and perspectives.

Examining the drawback of capitalism in its distribution of factors of production and profits in favor of capitalist and bourgeois, German genius invented socialism and communism to check against capitalism by declaring the communist Manifesto in 1848, in which Karl Marx elaborated four different categories of socialism; 1)Christian Socialism, 2)Petit Bourgeois Socialism, 3) Conservative Socialism, 4) Critical Utopian Socialism. Republic of Korea that has been practicing democratic market economy since the birth of its republic in 1948 and overcome the miserable Korean War that invaded by North Korea communist supported by Russia and China  and  achieved a remarkable economic prosperity by applying market economy principles to its war-torn country and succeeded in realizing the 9th strongest industrial nation in the world and enjoying an economic prosperity today, along with freedom and democracy. The alarming outcome of the April General Election, unless it proves to be rigged, unjust and unfair election without any electronic vote counting manipulation, we have to humbly accept  the result of the election as the will of 55 million people. Gaining 180 congressional seats out of 300 empowered the current regime of Moon to carry out its agenda, even toward the nationalization of private ownership by amending, revising and changing the constitution by majority rule as long as its regime win two-third votes, which is now quite possible to induce 25 more votes from the scattered parties. Without knowing the legitimate position of United States over the current democratic system they fought and won after the Korean War, Korean people home and abroad are in the doldrums in the face of a victory of leftist government over general election. Many thoughtful Koreans began to suspect that South Korea is in the process of being communized by the scheme of China in conspiracy of North Kim Jong-Un and South Moon. The outcome of election looms large in devising the strategy to uphold the principle of conservative philosophy in consideration of past 75 year struggle against stemming communism from prevailing in the morning calm country. If socialism and communism as leftist government planned, will dominate the peninsula destroying the democratic system, China and North Korea won the war and the inventor of socialism, Karl Marx will crack a smile in the North Gate, London, while Adam Smith from the High Street, Edinburgh, Scotland, an author of Wealth of Nations, a  founder of capitalism  may turn over in his grave.

There might continuously be a horrible war between the two thoughts-capitalism and socialism. I may look at the face of Karl Marx in his epitaph in different way  from my observation I made a few years ago. The result of April General Election in South Korea is casting a meaningful doubt on a two different system, in which 6.5 billion global citizen live. International scholars on the study of the fate of Korean peninsula may have to lock horns with each other in the battlefield of China and America for global hegemony. As China and US are crossing swords in blaming the spread of pandemic coronavirus each other, the fierce battle between the two super powers in the fate of Korean peninsula remains to be seen in the time to come. The undying conflict of interests between democracy, capitalism and socialism is still looming large, as long as human beings continue to search for avarice and ambition, for the pursuit of wealth, of power, and pre-eminence as the welfare of common man. What is then our ultimate justification for all of our grubby scrabbling for wealth and glory?



Hubert Hojae Lee, Economist

President of Korean American Foundation USA(

A Member of Presidential Advisory Board

VP of KoreanWar Vet Assoc. Chapter 202, Orange County