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…

By Jenna Gibson While millennials around the world have generally optimistic views of their future, Korean youth are more cynical. A new survey of millennials by Manpower Group found that around the world, two thirds are optimistic about their job prospects, and 62 percent feel that if they lost their job they could find a…

By Troy Stangarone The United States has utilized financial measures to go after hard to reach targets engaged in illicit activities at least since tax evasion was used to bring down Al Capone. Now modern day financial methods are being utilized to inhibit North Korea’s efforts to advance its nuclear weapons and ballistic missile programs.…

By Phil Eskeland Economic sanctions to achieve foreign policy objectives do not have a long track record of success.  One analysis of 174 case studies going back to just prior to World War I by the respected Peterson Institute for International Economics concluded that economic sanctions succeeded just 34 percent of the time.  However, the…

By Seho Park The welfare state is a concept of government in which the state or a well-established network of social institutions plays a key role in the protection and promotion of the economic and social well-being of citizens. This concept first appeared in late 19th century in the United Kingdom, when the negative consequences of capitalism were…

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