This is a critical review of Hyug Baeg Im s book titled Democratization and Democracy in Korea, 1960-Present. After briefly summarizing the outline of the book, the reviewer presents a detailed critique respectively on Im s analyses of the three main subjects: (1) the Yushin authoritarianism in relation to Park Chung Hee s role; (2) the democratic transition; and (3) the democratic consolidation and the state of Korean democracy. The reviewer argues that Im s evaluation somewhat downplays Park s part with the Yushin regime and that his game-theoretic examination of the transition may obscure a complete picture because of its depreciation of critical structural conditions. While Im was optimistic a decade ago about Korea s future in developing democracy, the reviewer finds the current situation of Korean democracy degenerating. The reviewer proposes that more attention to institutional factors will complement Im s approach on actors and structures and help thwart the retrogression of Korean democracy.