The Cohen Group: News: Archives: 2001: Interview with Former Secretary of Defense Cohen Who Established a Consulting Firm


	Archives
		2004
		2003
		2002
		2001
	Op-eds

News

Interview with Former Secretary of Defense Cohen Who Established a Consulting Firm

(translated from Korean from article written By Mr. Hyun Duck Sohn, Maeil Business Newspaper, July 6, 2001)

Talk of the town is that William Cohen who was once a Republican and who served for Democratic President Bill Clinton's cabinet as a Secretary of Defense for four years, has turned into a private consultant. After becoming Secretary of Defense, serving in the Congress and Senate for almost 24 years, the former Secretary threw himself fully into the commercial sector. In addition, he is assessing his value in the marketplace.

I met former Secretary Cohen and listened to his account of transforming into a "high-level knowledge provider."

Mr. Sohn: What was the motivation for starting the consulting firm, The Cohen Group, in Washington after serving as a Secretary of Defense?

Secretary Cohen: I wanted to thoroughly gauge the value of myself in the marketplace, and I had confidence in that aspect. I think my last 28 years of Washington experience was a good foundation for the new beginning. Especially, my Secretary of Defense experience for the last four years provided extraordinary opportunity for the new beginning. I traveled throughout most of the globe, broadened my insight on political and economic affairs, and gained knowledge in interpreting global economic trends and geopolitical dynamics.

Mr. Sohn: I believe you only have four staffers in the firm.

Secretary Cohen: Yes, though quantity is not important. Teamwork is more meaningful. We are the team who worked together harmoniously in the Pentagon. And more important than the teamwork is the ability to observe the world with insight and analytical accuracy. There are 75 years of experience including myself and the three team members.

Mr. Sohn: Do you have any dealings with Korean enterprise?

Secretary Cohen: Our focus is twofold. First is consulting U.S. firms doing global business. Next is advising firms outside of U.S. wishing to conduct business within the U.S. Incidentally, we are providing consultation to one Korean enterprise.

Mr. Sohn: What do you think of the practice of the so-called "revolving door?"

Secretary Cohen: Looking from the point of view of personal value, I believe it is a worthwhile practice. Through this one can sharpen competitiveness in both the bureaucratic system and the private sector. If one remains in the bureaucratic environment, I believe one's intellectual range would be limiting. Once government changes hand and a former official is being evaluated on one's worth in the harsh marketplace, one's competitiveness is heightened. It is the same in the private sector. Although the compensation is normally higher in the private sector, it is known that serving in the government enhances one's value.

Mr. Sohn: I understand that you will be participating in the Silicon Valley World Technology Conference. What is your view of the future technology trends?

Secretary Cohen: Not being a scientist, it is not for me to comment on the technological developments. However, having experience in the information field, it is important to nurture future technology. Preserving and nurturing technology itself is a skill. As globalization and information technology advances, demand for protection of intellectual property will increase. Because, above all intellectual property is most valuable asset.

Mr. Sohn: During the foreign exchange crisis in Korea at the end of 1997, there were debates within U.S. agencies regarding financial aid to Korea. At that time, is it true that you personally persuaded the Treasury Department and IMF to provide the aid?

Secretary Cohen: Yes, I did.

Mr. Sohn: For this purpose, a national security meeting was held. Did you directly explain to President Clinton the regional security implications of Korea's economic difficulty?

Secretary Cohen: During the course of the Korean economic adversity, I attended a Congressional banking committee hearing. I am probably the first Secretary of Defense to attend such a meeting. I emphasized to the committee members that the decision should not be solely based on economic impact, but should be also viewed in the light of national security linkage to our national interest. I attended the banking committee hearing and emphasized the intimate nature of the Korean-American security linkage.

Top