Asia

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…

  With the recent retirement by Yi So-yeon, South Korea’s remaining astronaut, many have turned attention to Korea, wondering whether there is a future for its space program. According to Daniel Pinkston of the…

      Since the famine of the 1990s, North Korea has continued to face periods of chronic food shortages. However, the humanitarian needs of the people in North Korea…

    North Korea has engaged in various forms of economic reforms and marketization attempts such as establishing Special Economic Zones and obtaining Foreign Direct Investment. Yet, many of North…

    In this episode, we talk with Dr. Yiagadeesen Samy of Carleton University on income inequality in South Korea and its affect on Korea’s economy. Dr. Samy is an economist…

The debate over sovereign artificial intelligence (AI) highlights the need and desire for nations to develop their own AI systems, including large language models (LLMs), tailored to their unique cultural and historical contexts. This idea has gained traction in Seoul, where US LLMs like ChatGPT have often fallen short in addressing questions that require a…

Contributors (last name alphabetical): Je Heon (James) Kim, Joo Young Kim This timeline is a second part of a series that covers “major events” in the aftermath of South Korean President Yoon Suk Yeol’s declaration of martial law on December 3, 2024. This part covers the events from Prime Minister Han Duck-soo’s assumption of the Acting Presidency until his impeachment. The timeline will periodically update in reverse…

Both North Korea and South Korea sought to redefine their relationship in 2024. In the past, both countries have publicly affirmed that the unification of the two Koreas is a national priority, but the two governments have engaged in low-level hostilities and high-level denunciations, while little concrete effort has been made to bring the two…

South Korea faced the prospect of political paralysis and a protracted constitutional crisis resulting from the declaration of martial law by President Yoon Suk Yeol and its dismissal hours later by a National Assembly resolution. On December 3, Yoon announced at 22:25 his intent to impose martial law “to eradicate pro-North Korea forces and protect…