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Central banks have two responsibilities: (1) stabilize the value of the currency and (2) maintain public confidence in deposit money by limiting systemic risk. The first responsibility is primary, ongoing,…
In the unfolding process of the Korean financial crisis in 1997, an inefficient corporate bankruptcy system played a damaging role in the Korean economy. Before the crisis, in 1996 and…
Although Korea has seen its economic growth rates come down from the stratospheric heights of previous decades, it remains, by any advanced-country yardstick, a successful economic performer. Korea’s real GDP…
Korea’s economy in the year 2005 demonstrated that it is picking up significant positive momentum, although the full-year performance in 2005 showed mixed results. Korea’s real gross domestic product (GDP)…
Recently released data from the Department of Commerce confirmed that the United States achieved record-level export of services to South Korea in 2018 – $24.5 billion. Combined with the trade…
We imagine North Korea as a country that is carrying on not only a conflict left over from the Cold War, but also a decrepit legacy economy from the past.…
The second summit between President Donald Trump and North Korean leader Kim Jong-un on February 27 and 28 ended without an agreement. The key difference in the two leaders’ negotiating…
As the complex negotiations between North Korea, the United States, and South Korea continue, it is worthwhile to review what the current U.S. presence on the Korean Peninsula looks like.…
At the end of May, South Korean President Yoon Suk Yeol hosted a high-level summit with representatives from Japan and China. It was the first time Japanese Prime Minister Kishida Fumio traveled to South Korea this year and was also the first visit to South Korea by Chinese Premier Li Qiang since his appointment in…
Russian President Vladimir Putin has a very short list of countries on his list of available international travel destinations these days. He made a wise choice to travel to Pyongyang, where he could be feted as a fellow dictator and share relief from sanctions-imposed isolation. However, Putin’s decision to sign a comprehensive mutual defense pact…
MSCI, a New York-based international ratings provider, is soon to release its annual Market Classification Review. The findings will determine what next steps Korea needs to focus on to move from the index of emerging markets to that of a developed one. Once the latter occurs, it would allow Korea to be listed alongside other…
During the week from May 28 to June 2, North Korea released over 1,000 large balloons across the demilitarized zone (DMZ) into South Korea. The balloons carried payloads of manure, cigarette butts, used batteries, cloth and plastic fragments, and lots of scrap paper (including used toilet paper). One report said that even dirty diapers were…