Economics

We imagine North Korea as a country that is carrying on not only a conflict left over from the Cold War, but also a decrepit legacy economy from the past.…

When people talk about South Korea’s foreign policy, they are more often than not focused on how Seoul engages with its immediate neighbors on denuclearization. However, as a global trading…

2018 has been an incredibly eventful year for both the Koreas and the U.S.-Korea relationship: from North Korea’s participation in the Winter Olympics at the start of the year to…

The Trump Administration is once again considering using Section 232 to impose tariffs on imported goods based on a threat to national security. The President originally used this provision to…

North Korea was the first country to severely restrict travel and trade across its borders when the pandemic began in 2020. While the rest of the world has since largely returned to normal, many of North Korea’s COVID restrictions remained in place at the beginning of 2023. However, Pyongyang began to ease these constraints in…

In April 2023, provisions in the Inflation Reduction Act (IRA) went into effect regarding standards for battery components and critical mineral materials. This had been the source of significant uncertainty for Korean electric vehicle (EV) makers and their suppliers as Korean companies were subsequently left off the list of eligible vehicles for the Section 30D…

Korea’s real GDP growth will rebound to more than 2 percent in 2024 and 2025, according to the Organization for Economic Co-operation and Development (OECD)’s bi-annual economic projections published at the end of November (Figure 1). The OECD’s outlook of 2.3 percent next year is in line with the 2.1 percent and 2.2 percent forecasts…

The latest guidance for electric vehicle (EV) subsidies doubles down on National Security Advisor Jake Sullivan’s vision for a “small yard, high fence.” On Monday, the Treasury Department in conjunction with the Internal Revenue Service (IRS) and the Department of Energy (DOE) issued proposed regulation defining what it means to be a foreign entity of…

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