While Korea’s announcement is only the first step in the process, Korea’s eventual membership in the TPP would be a natural outgrowth of the current administration’s broader economic and trade policy.
In recent weeks some of Asia’s biggest economies, including Korea, have concluded a series of currency swap agreements to facilitate trade without U.S. dollars.
Achieving President Park’s vision for Eurasia will require developing a means of integrating North Korea into the broader regional framework and mitigating the risk of Pyongyang arbitrarily shutting down links between South Korea and the continent.
Korea recently hosted the 22nd annual World Energy Congress with a focus on securing tomorrow’s energy today, a key concept for an energy import dependent country.
Last week, the Organization for Economic Cooperation and Development (OECD) released a report on the level of skills among adults in 24 developed countries, including the Republic of Korea and the United States.
If the budget battles of recent years become a more permanent feature of U.S. domestic politics, the risk exists that the United States’ partners in Asia begin to see the U.S. as politically dysfunctional and as a result U.S. influence in the region wanes over time.
Korea and the United States both enjoy a number of competitive advantages – high innovation capabilities, educated and sophisticated workforces, and cutting-edge technologies in key areas, such as information, health care, and energy.
The rising household debt in Korea is a critical issue and a clear symbol of its importance was the high level of government officials testifying at the hearing.
The fear that North Korea’s suspension of activities at the Kaesong Industrial Complex would have broader implications began to materialize last week when Daewha Fuel Pump Industrial Ltd. announced it failed to deliver parts in time to its Indian customer. Other companies are beginning to publicize their setbacks as well.
North Korea’s recent actions, including the suspension of work at Kaesong, are form of psychological and economic warfare against South Korea in response to heightened international sanctions against North Korea.