This study explores the impact of China's rise on the alliance between the Republic of Korea and the United States. It also helps to understand how third parties exert an influence on the alliance. The study examines four cases of four consecutive Korean governments: under Kim Young- Sam, Kim Dae-Jung, Roh Moo-Hyun and Lee Myung-Bak. It seeks to estimate the strength of the Korea-U.S. alliance, and asks how it has been affected by China's rise and what the theoretical implications of this are. The research sets as a key indicator to measure the solidarity of the Korea- U.S. alliance the treaty obligations various ROK governments were willing to assume. It found that the key factor affecting these obligations is not confined to the structural configuration of power. Domestic political trends and the consequent subjective perceptions about "who is the major threat" played a significant role in the formation/deformation of the alliance.