Kim's Revenge

It seemed that Japan and South Korea had the perfect relationship. The Koreans had an economy thirsty for investments, the Japanese had an excess of foreign currency built up by their booming export trade. Over the years Japanese have edged out Americans as Korea's No. 1 investor, with more than $326 million in private investments. Then came the mysterious kidnaping last month in Tokyo of South Korean Opposition Leader Dae Jung Kim. Although Kim was released in Seoul five days after being abducted, many Japanese are convinced that South Korean President Chung Hee Park's CIA masterminded and carried out the bizarre plot in violation of Japanese sovereignty. Now Japanese Premier Kakuei Tanaka has bowed to public pressure and dramatized his country's displeasure by postponing until mid-October the annual ministerial meeting between the two countries. It had been scheduled for next week.

The postponement--the first in seven years of talks--has left both governments clearly unhappy. South Korea planned to present Japan with an even larger shopping list for new loans. In turn, Japan depended on consultations with Seoul to protect its large investments. The South Koreans were embarrassed by Japan's action, which in its way was sweet revenge for Kim, a longstanding foe of Park. But that was small consolation: he is being retained in Seoul under house arrest.

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