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With the removal of President Yoon Suk Yeol from office, South Koreans head to the polls next week to pick his successor. The leading candidate is Lee Jae-myung of the Democratic Party, a progressive politician with a track record of being critical of Japan. In 2023, he engaged in a twenty-four-day hunger strike to protest…

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Region: Asia
May 30, 2025

Policy uncertainty in the United States has increased, which is influencing the long-term outlook for South Korean multinationals’ investment decisions. I use recent data to quantify the magnitude and drivers of this uncertainty, including trade, monetary, and fiscal policies. Then, I examine how firms may respond, such as aligning with U.S. policy initiatives, adopting a…

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May 29, 2025

Economic data for South Korea from recent months, analyzed by the Korea Economic Institute of America (KEI), offers an early indicator of how U.S.-imposed tariffs from April 2 might impact Korea’s economy and U.S.-Korea trade. Section 232 tariffs on steel and aluminum imports went into effect in February, followed by tariffs on autos on April…

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Region: Asia
May 28, 2025

Ellen Kim is director of academic affairs at KEI. Previously, she was deputy director and senior fellow with the Korea Chair at the Center for Strategic and International Studies (CSIS).…

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May 26, 2025

Amid all the talk of tariffs and investments in the United States, numerous reports and analyses have pointed to the benefits of deep socioeconomic linkages between the United States and South Korea. As President Donald Trump noted as early as 2019, “Hyundai, Samsung, CJ, Doosan, and SK Group… have created more than 50,000 brand new…

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May 22, 2025

South Korean officials proposed “support[ing] the revitalization of the U.S. shipbuilding industry” as an avenue for cooperation during the two-plus-two tariff negotiations between the United States and South Korea on April 24, 2025. Moving forward, future negotiations by the United States on trade will continue to involve partnerships in areas where allied countries such as…

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May 21, 2025

Voice of America (VOA) and Radio Free Asia (RFA) are two news agencies funded by the U.S. federal government that provide information to global audiences, especially those in countries without free and independent media. But in mid-March, President Donald Trump issued an executive order that targeted their funding. Their parent agency, the United States Agency…

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May 19, 2025

On May 8, President Donald Trump announced the first bilateral trade deal since unveiling the so-called “Liberation Day” tariffs on April 2. The agreement with the United Kingdom, labeled as an “Economic Prosperity Deal” rather than a free trade agreement (FTA), portends what future trade deals may look like, particularly for close allies and trading…

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May 16, 2025