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As K-pop’s popularity expands beyond South Korea, industry leaders are expanding to the American market by joining hands with large American record labels – HYBE, the entertainment company that manages the popular band BTS, announced a partnership with Universal Music Group. Meanwhile, another major South Korean entertainment company SM signed a similar agreement with MGM. These partnerships hope…

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Region: Asia

July 22, 2021

What Happened Last week, South Korea’s top policymakers discussed plans for dealing with the country’s low birth rate and the falling size of the country’s working-age population. One proposed measure calls for extending after-school childcare services to encourage mothers to focus more on work. However, parents and teachers’ groups are criticizing the government’s plan saying what is really needed…

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Region: Asia

July 21, 2021

What Happened Shipping terminals in Busan are struggling to find cargo space for their clients because global carriers are prioritizing goods from China’s factory belt over those from South Korea. The trade disruption caused by the pandemic led to a reduction in the number of available shipping containers in Asia. The lack of shipping containers is especially hitting smaller…

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Region: Asia

July 20, 2021

What Happened With increased financial digitization, Korean banks are shutting down their brick and mortar stores around the country. Throughout the pandemic, the elderly have struggled to access basic items such as masks using digital tools. More recently, their inability to quickly claim leftover vaccines through an online system left them at a disadvantage compared to the younger, tech-savvy population. Implications:…

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Region: Asia

July 19, 2021