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…

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…

What Happened A recent survey conducted by the Institute of Peace and Unification Studies (IPUS) at Seoul National University showed that only 44% of South Koreans think that reunification with North Korea is necessary. This is the lowest percentage since the survey began in 2007. The annual survey by the Korea Institute for National Universities (KINU) also…

What Happened Public support for strict social distancing in South Korea fell from 84% support in July to 65% in August. A survey from September showed that 73.3% of South Koreans support the start of the “With Corona” policy in November. The Korean government announced its plan to begin “With Corona” policy in the second week of November. Implications: Public opinion…

Squid Game - the first Korean show to top Netflix’s charts - follows the country’s long cinematic tradition of examining inequality and power relations. The story focuses on a group of indebted people who accept a mysterious invitation to participate in a series of children’s games for a chance to win approximately USD 40 million.…

What Happened A report from February 2021 identified differences in people’s ability to access private education as a key reason behind differing levels of academic achievement. This achievement gap appears to have accelerated during the COVID-19 pandemic due to remote learning. On August 27, the Mayor of Seoul began offering private online education to students to reduce disparities in academic…