Working paper developed from a lecture presented in Seoul about the role of Korea in the New World Order. Summarizes the historical background of the concept of a New World Order and its evolution after the Gulf War of 1990-91. Describes the fundamental issue behind the New World Order as whether the global diffusion of technological capacity in the late 20th century (and the associated spread of the capability to produce weapons of mass destruction) must lead to chaos, or can be organized in a stable peace. Asserts the important role of regional as well as global institutions in building a New World Order, citing historical successes and failures in Europe, the Middle East, the Americas, and the Pacific Basin. Discusses the importance of the Asia-Pacific Economic Cooperation (APEC) and the key role of the Republic of Korea in expanding and strengthening APEC in order to create peace and economic development throughout the Pacific Basin.