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…

Spanning nearly a century and multiple generations, Min Jin Lee's 2017 novel Pachinko tells the story of a Korean family struggling to find their place in Japan before, during, and after…

A woman in hanbok joyfully rises above Mt. Baekdu, arms raised, in a art piece entitled Umma Rises: Towards Global Peace. This is just one of many recent art pieces…

A group of women gossiping about the new neighbor. A feisty middle schooler using a homemade drone to prank his classmates. A young military officer seeking information from his past.…

With President Donald Trump finishing up his first official trip to Asia, including a stop in South Korea last week, this week's episode of Korean Kontext asks: what do South…

South Korea has faced political paralysis since President Yoon Suk Yeol’s December 3, 2024, declaration of martial law, the rapid reversal of that decision by the National Assembly, and the ensuing crisis. The Constitutional Court will decide on April 4, 2025, at 11:00 a.m. KST whether to uphold the Assembly’s decision to impeach President Yoon.…

The digital trade landscape in South Korea offers significant opportunities for U.S. companies, but it also presents a range of challenges. As one of the most technologically advanced countries in the world, South Korea is a lucrative market for digital trade. However, U.S. companies eager to tap into this potential face various challenges, including regulatory…

For decades, U.S. foreign assistance has played a pivotal role in advancing U.S. interests, strengthening alliances, and promoting stability in key regions of the world. Nowhere has this been more evident than in Asia, where U.S. development cooperation with South Korea—itself a model for the benefits of U.S. foreign assistance—has been a vital tool for…

South Korea’s Nationally Determined Contribution (NDC) under the Paris Agreement sets a target of reducing its greenhouse gas (GHG) emissions by 40 percent by 2030 (relative to their peak in 2018). Korea also aims to achieve carbon neutrality by 2050 (Figure 1, Panel A). The targets are ambitious, as Korea was the world’s thirteenth-largest GHG…