Higher interest rates will dampen the effectiveness of his promised stimulus package and, vis-à-vis a stronger dollar, make U.S. exports more expensive. While the latter will further complicate Korea’s relationship with Trump over the bilateral balance of trade, the biggest challenge to Korea stemming from the Fed rate rises will hit closer to home.
“Thank you, @Samsung! We would love to have you!” Donald Trump wrote on his personal Twitter account, linking to a story about a possible plan for the tech company to build a factory for home appliances in the United States.
South Korea faces a household debt crisis. Household debt reached more than 1,257 trillion won ($1.1 trillion) in the second quarter of this year, up 125.7 trillion won and 11.1 percent from a year ago. This marks the highest level for household debt since the government began compiling related data in 2002.
Any student of Korea policy knows “The Two Koreas,” by Don Oberdorfer. Famous both for its physical heft and its incredible detail, this book is regularly referenced as the go-to history book in Korea policy circles.
The Brexit decision marks a historic turning point that will have ramifications in expanding circles from inside the UK, to the EU, and to the rest of the world, including the United States and the Republic of Korea.
The runaway success of Kakao’s mobile messaging app can be easily seen by its near universal use in South Korea. From high school students to working professionals, three-quarters of South Korea’s 50 million residents use Kakao’s free messaging service monthly with an additional 10 million monthly users outside of South Korea.
September, 1961 was not a happy time in South Korea, and parallels to today’s North Korea are uncanny.