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…

June 25, 2020 marks the 70th anniversary of the start of the Korean War. The conflict on the Korean Peninsula has been going on for so long that we sometimes…

2020 is starting off dramatically with the escalation of tensions in the Middle East – The world held its breath while the United States and Iran exchanged both blows and…

While it is frustrating to see North Korean projectiles flying out to sea and Pyongyang’s erratic, unpredictable reactions in negotiations, we cannot forget where things stood in 2017 – the…

30 years after the fall of the Berlin Wall, people’s aspiration to establish a pluralistic liberal democracy appears to be under scrutiny around the world – anti-immigration policies dominate political…

By Thomas Lee In the wake of the 20th legislative elections on April 13th, the Minjoo Party edged out the conservative Saenuri Party to win the slimmest possible majority of one. This has been hailed as a revolution as this was the first instance in South Korean history of a ruling party with a sitting…

By Juni Kim The runaway success of Kakao’s mobile messaging app can be easily seen by its near universal use in South Korea. From high school students to working professionals, three-quarters of South Korea’s 50 million residents use Kakao’s free messaging service monthly with an additional 10 million monthly users outside of South Korea. Despite…

By Bruce Klingner Enhanced security cooperation between Seoul and Tokyo would better protect South Korean, Japanese, and U.S. national interests in Asia. Both South Korea and Japan have extensive, highly capable militaries. Washington has strong relationships with both countries, but the third leg of the security triad—between Seoul and Tokyo—has been constrained due to bitter…

By Mark Tokola Five years of relatively good harvests have pushed the issue of malnutrition in North Korea down the list of international concerns. Reports of visible improvements in Pyongyang (but much less in the countryside), nuclear and missile testing, cyber-attacks, and Kim Jong-un’s public appearances have dominated recent media coverage and have caused memories…