by Wang Mian

    SEOUL, Nov. 4 (Xinhuanet) -- The US presidential election affected the nerve of South Korean government, political parties and business circles. On Thursday, they were evaluating possible aftermath after the incumbent US President George W. Bush had won the race.

    The South Korean National Security Council, directly led by President Roh Moo-hyun, held meeting Thursday afternoon to analyzea possible change in the US foreign policy.

    Seoul administrative departments were mulling to contact their US counterparts when Bush designates his new cabinet lineup, according to local media reports.

    Hours after South Korean President had sent congratulatory message to Bush, South Korean Foreign Minister Ban Ki-moon said Roh would hold one-on-one meeting with Bush on the sideline of the Asia-Pacific Economic Cooperation (APEC) forum which is to be convened later this month in Chile.

    The nuclear issue on the Korean Peninsula is expected to top the agenda of the summit meeting.

    Since the US presidential competition was over, the South Korean top diplomat also expressed views that there is a possibility of the Democratic People's Republic of Korea (DPRK) returning to dialogue if Washington pushes for an early resumptionof six-party talks.

    Week before the US presidential election, US Secretary of the State Colin Powell visited Japan, China and South Korea to hold discussions on the nuclear issue on the Korean Peninsula. Powell said his government hoped the six-party talks can be resumed at anearly date.

    The fourth round six-party nuclear talks failed to be held as scheduled in September.

    With Bush's winning another four-year term, South Korea's political parties are also stepping up efforts to cope with possible changes in the Seoul-Washington relationship.

    The ruling Uri Party and the biggest opposition Grand National Party both convened meetings on Thursday to evaluate situation after the US election.

    However, worries were still prevailing here that Bush will takemore hawkwish policy toward DPRK on the nuclear issue.

    "The US is expected to continue to pursue a Libya-type solution while applying pressure on North Korea (DPRK) through the six-party talks," said Jun Bong-geun, head of the Institute for Peace and Cooperation.

    Washington has called on Pyongyang to follow in Libya's footsteps and dismantle its nuclear program "completely, verifiably and irreversibly," saying the DPRK will receive many benefits for doing so.

    Moreover, with Bush's reelection, Washington is expected to push ahead with its plan to drastically scale back the US militarypresence in South Korea.

    The US and South Korea has agreed on a plan of withdrawing one-third of 37,500 US troops from South Korea by 2008.

    The US government said the troop cut is part of its global defense posture review (GPR) aimed at transforming the US army into more mobile, agile forces to better cope with new threats such as terrorism.

    Analysts also agree that the allies will push ahead with separate plans to reposition the US military headquarters in Seouland the 2nd US Infantry Division along the inter-Korean border to an expanded facility south of Seoul.

    On the economic front, local observers expressed mixed responses on Bush's winning.

    "With Bush reelected, current policies will continue without major changes," Kim Hyung-yeol, an analyst at Korea Investment Trust Management & Securities Co., said.

    But economic analysts also worried if Bush sticks to current "weak dollar" policy, South Korea's exports will suffer a lot.

    So far this year, the dollar has fallen more than 5 percent against the local currency. A strong won does not bode well for the South Korean economy, which counts on exports for economic expansion, because a relatively strong currency makes its productsless price-competitive in overseas markets.

    Anyway, South Korean president reaffirmed strong Seoul-Washington alliance on Thursday, saying "I am confident that the South Korea-US alliance will develop in an even more solid and future-oriented manner." Enditem