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…

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.…

You’ve probably heard the Korean War referred to as an unfinished conflict – but that’s not just a reference to the frozen war on the Peninsula. The sudden outbreak of…

We often talk about whether the sanctions against North Korea are working. And we have spoken occasionally on this very podcast about the ways North Korea also cheats and gets…

Recent debates on South Korea securing an independent nuclear weapons capacity have addressed several issues, including strategic relevance and operational utility, its impact on the U.S. alliance, how it will affect the balance of power on the Korean Peninsula, and its contribution to the regional arms competition. Less discussed has been the question of South…

The Korean Peninsula is currently in a pattern of tit-for-tat provocation: short and long-range missile tests; combined training exercises; artillery live-fire exercises, and border area fighter jet sorties. The pattern in place will reach a new level if and when North Korea undertakes its seventh nuclear test. What will this mean in the context of…

Ahead of the Chuseok holiday last month, Unification Minister Kwon Young-se said South Korea was interested in negotiations with North Korea about holding another round of inter-Korean family reunions. The urgency of the issue has only increased since the last time they were held, back in 2018. In his remarks at a government press conference,…

During the second inter-Korean summit in 2007, South Korean President Roh Moo-hyun and North Korean leader Kim Jong-il discussed, among other issues, building military trust and establishing special peace and cooperation zones in the West Sea. In the years leading up to the summit, South and North Korean military officials spent considerable time discussing these…