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 this episode of Korean Kontext, I have the opportunity to speak with Richard V. Allen, who, in the weeks preceding his official instatement as National Security Advisor to President-elect…

In this episode we hear from author Mike Kim, who speaks with Korean Kontext about his experiences living and working with North Korean refugees on the China-North Korea border. Mike…

We bring the Korean Kontext studio to the U.S. Department of State to speak with Kathleen Stephens, current U.S. Ambassador to South Korea. Ambassador Stephens shares with us her personal…

In this episode we speak with Ambassador John Everard, who served as Ambassador of Great Britain to North Korea from 2006-2008. Ambassador Everard experienced firsthand life as one of only…

Korea’s real GDP grew 6.6% (seasonally-adjusted annual rate) in the first quarter of 2021, bringing it back to its pre-pandemic peak level (Figure 1). The May OECD Economic Outlook projects that it will increase 3.8% in 2021, significantly faster than its March outlook of 3.3%. The new projection is consistent with forecasts by the Bank…

What Happened On May 13, the South Korean government announced it will provide tax incentives and subsidies to encourage growth and investment in the domestic chip market. On May 25, the government announced additional plans to provide financial incentives and support to domestic makers of automotive chips and other key car components. The government also sent requests to foreign automotive chip…

Despite differences in political ideology, South Korea’s relationship with Vietnam has deepened and evolved since formal diplomatic relations were established in 1992. Trade and economic investment have grown substantially, and the two countries have upgraded their bilateral relationship from a “dialogue partnership” to a “strategic partnership.” Next year’s 30th anniversary of South Korea’s diplomatic relations…

At the end of May, President Moon Jae-in of South Korea held his first in-person meeting with President Joe Biden at the White House. The joint statement released by the U.S. indicates that the leaders discussed a wide range of areas to deepen cooperation between the U.S. and South Korea, from climate change and COVID-19,…