A very good ally, Messrs. Hyun and Gregg agree, in a detail-filled conversation

that goes on to examine the current texture of that alliance. Mr. Gregg: "The Koreans

have had a magnificent economic success by a formula which is quite interesting, which

is strong governmental control from the top, and free enterprise working very vigorously

from the bottom.... People like Paul Volcker ... think it is now time for Korea to really

free the market,... but like a parent trying to teach a child to ride a two-wheel bicycle, the government is a little reluctant to let go of the back of the seat." ... Mr. Hyun had

been in Los Angeles just after the Rodney King riots, in which Korean storekeepers were

hit especially hard. WFB: "When you spoke to Korean victims of that lunacy that lasted

three days, did they feel that America has betrayed them?" HCH: "Actually there are

three kinds of conflicting emotions now prevailing . . . Some of them would like to come

back to Korea, the American dream soured; some of them would like to move to a safer

place to do business, the suburban areas. But the majority of the people there would like

to stay there and to rebuild."