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Along with commercial banks, capital markets are an integral part of the financial systems in most capitalist economies, and their relative importance is constantly increasing. Countries around the world are…
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…
Despite being industrial powerhouses, Korea and Japan are both resource-poor nations with limited domestic sources of energy. Powering their economies required both to develop supply chains for fossil fuels, nuclear…
In 2023, KEI has set out on its “Rethinking Korea initiative,” which explores the evolution of U.S.-Korea relations, Korea’s place in the world, and rapid changes in Korean society itself.…
In 2023, KEI has set out on its “Rethinking Korea initiative,” which explores the evolution of U.S.-Korea relations, Korea’s place in the world, and rapid changes in Korean society itself.…
In 2023, KEI has set out on its “Rethinking Korea initiative,” which explores the evolution of U.S.-Korea relations, Korea’s place in the world, and rapid changes in Korean society itself.…
By Jenna Gibson and Chris Hurst The discovery of a unicorn lair, the execution of Kim Jong Un’s uncle by a pack of rabid dogs, and a decree that all North Korean men must copy Kim Jong Un’s haircut. All of these were stories that were widely covered in mainstream Western news outlets. And all…
By Travis Lindsay U.S.-ROK military exercises have been a key piece of the American presence on the Korean peninsula for more than half a century. Exercise “Chugi” kicked off in the autumn of 1955, and has since evolved into the well-known “Key Resolve”, “Foal Eagle”, and “Ulchi Freedom Guardian” exercises that take place in the…
By Mark Tokola The decision to deploy a Terminal High Altitude Area Defense (THAAD) anti-ballistic missile system in South Korea has been controversial in South Korea, and predictably has been condemned by North Korea, but, judging by headlines and official statements, seems to have upset the Chinese more than anyone else. China has been vociferous…
By Juni Kim North Korea’s submarine-launched ballistic missile (SLBM) test last week displayed a troubling advancement of North Korea’s missile technology. Despite close international attention and outcry, North Korea has made rapid advances in its SLBM capabilities since its first test last year. Although the details of some of the SLBM tests have been questioned,…