Economics

This article was published on The Korea Times on August 16, 2023. For much of the past year there has been a focus on how the CHIPS and Science Act…

This article was published in The Korea Times on June 14, 2023. The decision by the Cyberspace Administration of China to ban Micron Technology’s semiconductors in Chinese infrastructure has put…

President Yoon Suk Yeol announced on July 5 that South Korea will expand its nuclear energy production to more than 30% of total electricity creation by 2030 from the current level of 27.4%. This is part of a broader plan to use nuclear, hydrogen, and renewable sources of energy to decrease fossil fuels as a…

On June 20, 2022, the Korean Intellectual Property Office (KIPO) began recruiting Small and Medium Enterprises (SMEs) for a new program designed to bolster SMEs’ preparation against international patent disputes. This reflected Korea’s recognition of SMEs as a leader in the country’s technological advancement. According to the KIPO, the total number of patent applications in…

As of June, South Korea’s gasoline prices increased 31% from last year. The country’s complete dependence on imports means that it is not only extremely sensitive to global shocks in supply but also shifts in the South Korean won’s (KRW) exchange rate. Foremost, Russia’s invasion of Ukraine negatively affected the global supply of energy. Russian…

On May 3, the Yoon Suk-yeol administration announced its 6 broad visions that will guide its policymaking over the next five years. These include (1) policy and legal reforms, (2) economic growth, (3) welfare, (4) education and innovation, (5) security, and (6) regional developments. Digging into their subcomponents, there are several continuities between Yoon's vision…