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…

For many years, South Korea has been a homogeneous country. But with more foreigners coming to live in Korea, that is starting to change. In fact, the Korea Institute for…

In early July, the United States and South Korea announced that they had come to an agreement to deploy the Terminal High Altitude Area Defense (THAAD) system near the city…

With Election 2016 well underway, KEI's very own Phil Eskeland has been closely following how both the Republican and Democratic parties have been talking about foreign policy and Asia. He…

In the late 1930s, nearly 200,000 ethnic Koreans were forcibly removed from the Soviet Far East, packed into trains and sent to Central Asia. More than 70 years later, their…

What Happened Public support for strict social distancing in South Korea fell from 84% support in July to 65% in August. A survey from September showed that 73.3% of South Koreans support the start of the “With Corona” policy in November. The Korean government announced its plan to begin “With Corona” policy in the second week of November. Implications: Public opinion…

Squid Game - the first Korean show to top Netflix’s charts - follows the country’s long cinematic tradition of examining inequality and power relations. The story focuses on a group of indebted people who accept a mysterious invitation to participate in a series of children’s games for a chance to win approximately USD 40 million.…

What Happened A report from February 2021 identified differences in people’s ability to access private education as a key reason behind differing levels of academic achievement. This achievement gap appears to have accelerated during the COVID-19 pandemic due to remote learning. On August 27, the Mayor of Seoul began offering private online education to students to reduce disparities in academic…

What Happened The ruling Democratic Party’s presidential frontrunner, Lee Jae-myung, faced scrutiny over allegations that Seongnam city extended preferential treatment to a private asset management company during his mayorship. Meanwhile, newspapers broke the story that the same company provided the son of opposition lawmaker Kwak Sang-do with an unusually large severance payout of USD 4.2 million when he changed…