Asia

The paper reviews some of the key aspects leading to Korea’s remarkably successful economic transformation, including its consistent and aggressive pursuit of export-led growth, its investments in basic services and…

Korea’s economic development is often cited as a model for other developing nations. One of about 60 countries whose per capita income was less than $300 in the 1960s, only…

Korea has shaken off some of the impacts brought by the Sewol ferry disaster, but its overall pace of growth is still very weak. The Korean economy is forecast to…

The Korean economy has faced several crises, such as the ending of the rapid economic growth era in the 21st century, continued stagnation of per capita GDP growth since 2007…

When Kim Jong-il died in 2011, the world held its breath as North Korea entered uncharted waters. No other communist dictatorship in the last century – for that matter no…

On June 25, 1950, North Korea launched a surprise invasion of South Korea and started a war that is still technically ongoing. But it was – as North Korea’s Kim…

The North Korean economy is changing – we know this because of widely reported growth of private markets since the famine of 1990s. But black markets and illicit activities are…

In May, The Korean-born Los Angeles Dodgers’ pitcher Ryu Hyun-jin was named The National League Pitcher of the Month. When you think of Asians and baseball, you might think first…

Attendees at a reception last week by the South Korean Embassy at Tokyo’s New Otani Hotel, held to celebrate the sixtieth anniversary of the normalization of diplomatic relations between South Korea and Japan, were pleasantly surprised when Japanese Prime Minister Shigeru Ishiba showed up to deliver a warm address. He was followed by former prime…

From June 16 to 17, South Korean President Lee Jae Myung attended the Group of Seven (G7) Summit in Kananaskis, Canada. This was Lee’s debut on the global stage just thirteen days after he was elected to office. Despite very little time to prepare for multilateral summit meetings, Lee’s attendance offered a timely opportunity to…

In March 2025, South Korea admitted for the first time that the government doctored paperwork and faked the identities of at least 367 children between 1964 and 1999 in a bid for political and economic gains. South Korea’s Truth and Reconciliation Commission (TRC), an independent body established by the government to investigate historical injustices, described…

On May 28, 2025, the U.S. Court of International Trade (CIT) issued a permanent injunction against wide-sweeping tariffs imposed by the Donald Trump administration using the International Emergency Economic Powers Act (IEEPA), which included universal and reciprocal tariffs announced on “Liberation Day” as well as fentanyl-related tariffs. The CIT’s three-judge panel held that the U.S.…