Economics

President Donald Trump is off on his longest international trip yet, stopping in Japan, South Korea, China, Vietnam and the Philippines. There, he is expected to tackle a range of…

In this episode, we spoke with Kevin O'Donnell, who, after decades on a private sector career path, became the first-ever Peace Corps country director for South Korea, followed by a…

On May 10, former human rights lawyer Moon Jae-In officially became the next president of South Korea, filling an office that had been empty since former President Park Geun-Hye's impeachment…

After the closure of the Kaesong Industrial Complex last year, economic ties between North and South Korea have all but ceased. And as sanctions measures continue to tighten, the international…

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…

Korea’s development from one of the poorest countries in the world in the 1950s to a major industrial power has been exceptionally rapid. Per capita income increased from 10% of that in the United States in 1970 to 70% by 2020 (Figure 1). Moreover, Korea has surpassed Japan. Korea’s rapid transformation was achieved through effective…

South Korea stands at a critical demographic juncture, facing a declining birthrate that has far-reaching implications for its economy and society. The increasingly severe demographic trends have pushed the government and society to consider which policy measures might offset the social and economic consequences of demographic decline. Fertility quickly declined from an average of six…

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