Economics

Though hesitant to officially join the U.S. Indo-Pacific Strategy, South Korea is seeking to promote many of the same values through the Moon administration’s “New Southern Policy.” Central to this…

This month, the world was reminded once again that the relationship between the Republic of Korea and Japan is deeply fractious. Japan has imposed restrictions on the export of chemical…

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…

Recently released data from the Department of Commerce confirmed that the United States achieved record-level export of services to South Korea in 2018 – $24.5 billion. Combined with the trade…

South Korean President Yoon Suk Yeol’s short-lived declaration of martial law on December 3, 2024, and his subsequent impeachment on December 14 have plunged the country into its worst political crisis in nearly 40 years, with some signs of a negative economic impact. The economy was already showing signs of weakness before the December political…

Western media and foreign policy specialists point to a self-confident Kim Jong Un, willing to take large risks as he again contemplates dealing face-to-face with US President Donald Trump and as he works closely with Russian President Vladimir Putin to send weapons and soldiers into the war in Ukraine. Meanwhile, Kim continues to fire UN-prohibited…

The last thing South Korean monetary officials need to hear about is the US Department of the Treasury’s recent addition of South Korea to its currency monitoring lists. The timing could hardly be worse, as it was made in November prior to the drastic drop in the value of the won, partly driven by various…

The economic relationship between the United States and South Korea is stronger than ever, but President Donald Trump’s promises of higher US tariffs pose risks to the relationship. In 2023, trade between the two countries in goods and services was valued at 256 billion USD, and South Korea became one of the largest sources of…

As disruptions in supply chains continue, what practical steps can the U.S. and Korea take to strengthen supply chains against future crises?