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758 GENERA^     ^0*SB_D_. C.RC_^ 7-0993
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KOREA ECONOMIC SOCIETY
1775 BROADWAY AT S7TH STREET
NEW YORK 19. N. Y. Secenrtor - 1944
To the Members of the Korea Economic Society
Gentlemen.*
Our Society was formed just one year ago this month, and I am glad to
take this opportunity of reviewing some of the activities of the Society—
most of which you may know already. But I am making this report mainly
"because, with it, I send you the personal greetings of our staff in New York
for this holiday season.
The Society, as you know, came into "being as the result of a meeting
held in the Korean Church and Institute in New York City on December 11,
1943—a meeting sponsored by such men as Chung Kei Won, K. Bernard Kim,
Pai Min Soo, John Starr Kim, and some members of the Student Federation.
At the time that the promotion meeting was held, no one person—and certainly
not myself-—had any idea of forming an organization, and certainly not an
economic society. But during the evening1s discussion as to the kind of work
we Koreans could do in this country, it was brought out:
1.  that we should do all-we could to contribute towards Korean participation in the present war against Japan,
2*  that, although tjhe three great powers are "determined to see that, in
due course, Korea shall become free and independent,tt it was necessary
that the Korean people show—through practical demonstration and future
planning—their capacity to administer that freedom and independence, and
3.  that in the postwar world, the new Korean nation will be launched with
very little preparation; hence it devolves upon the shoulders of the
Korean people abroad who are fortunate enough to have the facilities for
surveys, research and studies, to outline various plans, submit proposals,
and enter discussions and attend conferences as much as possible in order
to arrive at some understanding of the problems confronting the Korean
people and take such measures for the greatest benefit to the Korean
people as a whole as opportunity affords.
Further discussion on  thesd three topics brought out the fact that political maneuvers or plans for recognition of the Korean leaders, or an appeal
for military support and aid for Korean organizations not recognized by the
United Nations, seem to be of less importance than the factual appraisal of
Korea1s present situation. Ways and means to convert or alter them for use
by the new Korean nation would be something that the Koreans in this country
could undertake, and this is of paramount importance. Consideration of this
phase of the things that Koreans must do involved practical economics.
Therefore, it was unanimously voted by those present to organize a nonpolitical
and nonprofit society to be known as the Korea Economic Society.
There is no partisanship, no secrecy, no personal motive in any of the
activities of this Society. Its sole object is to carry out the three important tasks outlined abova.
It was early proposed that to carry out our work it would be necessary
to have a publication through which we could make our studies, surveys, and
the results of our research known to the proper persons—both among the
Koreans whom we could reach through the mails, and to those .American officials, industrialists, educators, professional people, and others who have
the interest of Korea either in an official or personal capacity.
Accordingly the KOREA ECONOMIC DIGEST was established and the first
number appeared in June, 1944. Due to the shortage of funds and consequent
leek-of personnel, considerable difficulty was experienced in securing
materials, manuscripts, paper and other necessary adjuncts to publication
work in war-times-. But through the untiring efforts of our members and
staff—some of whom have contributed funds month after month, when at first
it was intended that we should ask of them only one remittance per year—
we have completed our first yearfs work* Those on the actual publication
staff, as E. M. Royce and Jacob Kim, have given of their time as generously
as others have of their funds* They have worked nearly every night, holidays, and some Sundays, and all hours, as is evident they must have done in
order to bring out the publication with so few people helping.  These two
have read, condensed, re-wrote, corrected manuscripts, ran errands to the  ' ^
printer's, pasted and addressed labels, stuffed envelopes, and carried them »