South Korea

Displaying all content tagged with the category South Korea.
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Korea’s real GDP grew 6.6% (seasonally-adjusted annual rate) in the first quarter of 2021, bringing it back to its pre-pandemic peak level (Figure 1). The May OECD Economic Outlook projects that it will increase 3.8% in 2021, significantly faster than its March outlook of 3.3%. The new projection is consistent with forecasts by the Bank…

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Region: Asia

June 10, 2021

What Happened On May 13, the South Korean government announced it will provide tax incentives and subsidies to encourage growth and investment in the domestic chip market. On May 25, the government announced additional plans to provide financial incentives and support to domestic makers of automotive chips and other key car components. The government also sent requests to foreign automotive chip…

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Region: Asia

June 8, 2021

Despite differences in political ideology, South Korea’s relationship with Vietnam has deepened and evolved since formal diplomatic relations were established in 1992. Trade and economic investment have grown substantially, and the two countries have upgraded their bilateral relationship from a “dialogue partnership” to a “strategic partnership.” Next year’s 30th anniversary of South Korea’s diplomatic relations…

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Region: Asia

June 7, 2021

At the end of May, President Moon Jae-in of South Korea held his first in-person meeting with President Joe Biden at the White House. The joint statement released by the U.S. indicates that the leaders discussed a wide range of areas to deepen cooperation between the U.S. and South Korea, from climate change and COVID-19,…

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Region: Asia

June 4, 2021