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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…
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…
A popular online joke last week went something like this: “The leaders of South Korea and Moon Jae-in came to New York.” While the band’s global popularity is unmistakable, the fact that members of a Korean pop band were on the floor of the United Nations addressing world leaders remains no less surprising. The band was reprising its…
North Korea’s real GDP fell by 4.5% in 2020, according to the estimate announced by the Bank of Korea (BoK) at the end of July (Figure 1). It was the steepest decline since 1997 during the “Arduous March,” when North Korea was hit by famine. The downturn last year was caused in part by measures to contain…
What Happened On September 16, the National Police Agency announced that they are planning to release a new public safety strategy by October 2021. This strategy includes launching a task force to study the use of robots for street patrol. The military has also stated that it wants to incorporate “moving robots” and an artificial intelligence (AI) surveillance system…
History, politics, and geopolitics are ever-present in Northeast Asia - and they are increasingly part of the media landscape. The controversy surrounding the Chinese war movie “The Sacrifice” is only the most recent reminder. Produced to commemorate the anniversary of Beijing’s unofficial entry into the Korean War, the film depicts the last large-scale Chinese offensive…