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This article argues that there is potential to establish a considerably more comprehensive relationship than has previously existed between the United States and South Korea. Compared to the trans-Atlantic relationship or even the U.S.- Japan alliance, cooperation between the United States and its allies in South Korea is under-institutionalized, does not benefit from the same broad array of cultural programs and policy interaction, and remains quite narrow in its vision and practical application to modern-day global challenges. The broadening of institutional cooperation on the basis of common values and interests is a critical task if meaningful standards are to be established for the future development of multilateral security institutions in Northeast Asia. There is an opportunity to transform the U.S.-ROK alliance relation-ship so as to fully realize its contributions to regional and global stability and prosperity while simultaneously bolstering the respective national interests of both countries in Asia and around the world. A policy agenda designed to achieve these objectives would promote the expansion of U.S.-ROK bilateral cooperation in global, regional, and nontraditional security and economic areas as well as address changes in the traditional core areas of the bilateral relationship.