Asia

After decades of rapid growth led by large, industrialized chaebol firms, Korea has reached the technology frontier in many of its largest industries and run out of room for future…

Korea has made fostering a “creative economy” a top priority to sustain economic development and avoid the “low-growth trap.” The goal is to shift Korea’s growth strategy from an emphasis…

Since the late 1990s, Korea has sought a FTA with its trade partners, while the EU has been pivoting to Asia since the mid-2000s in search of a FTA partner.…

Last year was a special year for Korea and Italy as it marked the 130th anniversary of the Korean-Italian diplomatic relationship. Today, Korea and Italy share similar economic features including…

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…

In the last two posts on Korea and the war in Ukraine, I showed that Moon administration moved relatively quickly to join the international sanctions regime and was rewarded by inclusion on Russia’s  "unfriendly nations" list. I also argued that the costs of standing on international legal principle were softened by the fact that the…

The OECD Economic Outlook, released on June 8th, projected that real GDP growth in OECD countries would drop by half from 5.5% in 2021 to 2.7% in 2022. The new projection is a sharp reduction from its December 2021 Outlook, which projected growth of 4.5% growth this year. With inflation expected to rise from 3.7%…

Over the last half decade, the Korean Peninsula has seen the prospect of war during Donald Trump’s period of “fire and fury,” but also a period of negotiations that resulted in a series of North-South and U.S.-North Korea summits. While war was avoided, those efforts at negotiation ultimately failed. The aftermath of those failed negotiations,…

After more than two years since the start of the pandemic, COVID-19 has finally been detected in North Korea. Despite strict border controls limiting the movement of people and goods to prevent entry of the novel coronavirus, state media reported on 12 May that the Omicron BA.2 variant had been found in a sample taken…