Asia

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…

Korea’s economy in the year 2005 demonstrated that it is picking up significant positive momentum, although the full-year performance in 2005 showed mixed results. Korea’s real gross domestic product (GDP)…

North Korea is putting on a tough face as the world confronts the COVID-19 pandemic. Authorities in Pyongyang continue to reassure the rest of the world that nothing is wrong…

Looking back on the Korean War, one might assume that the outbreak of a violent conflict that killed millions of people would preclude the possibility of a peaceful resolution of…

It would not be an exaggeration to claim that the Korean War shaped world history. There had been bloodshed elsewhere that bookmarked the start of the bitter conflict between the…

The international force that answered the United Nation’s call to defend the Republic of Korea between 1950 and 1953 did more than engage in combat with North Korean and Chinese…

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…

As concern regarding an imminent North Korean nuclear test increases, the debate on South Korea securing its own nuclear weapons is also increasing. There are strong reasons why this debate should be looked at very carefully in Washington. The current debate started with recent discussions in the Yoon Administration regarding the hosting of U.S. tactical…

North Korean leader Kim Jong Un, perhaps emboldened by his embrace of Russia’s war in Ukraine, has unleashed a wave of missile tests, with a possible nuclear test to come. The Pyongyang regime claims to be developing tactical nuclear weapons and to be responding to recent joint military exercises by the U.S., South Korea and…