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2. Carving Status at Kŭmgangsan – A Book Talk by Maya Stiller
- Author:
- Maya Stiller and Seong Uk Kim
- Publication Date:
- 03-2023
- Content Type:
- Video
- Institution:
- Weatherhead East Asian Institute, Columbia University
- Abstract:
- A 50-minute talk followed by Q and A with Maya Stiller, Associate Professor of Korean Art History & Visual Culture in the Art History Department at the University of Kansas, on Dr. Stiller’s recent book, "Carving Status at Kŭmgangsan," winner of the American Historical Association’s 2021 Patricia Buckley Ebrey Prize. Dr. Stiller’s book focuses particularly on elite graffiti in late Chosŏn Korea (17th to 19th centuries).
- Topic:
- History, Arts, and Graffiti
- Political Geography:
- Asia and Korea
3. The World After Taiwan’s Fall
- Author:
- David Santoro, Ralph Cossa, Ian Easton, Malcolm Davis, and Matake Kamiya
- Publication Date:
- 02-2023
- Content Type:
- Special Report
- Institution:
- Pacific Forum
- Abstract:
- Let us start with our bottom line: a failure of the United States to come to Taiwan’s aid—politically, economically, and militarily—would devastate the Unites States’ credibility and defense commitments to its allies and partners, not just in Asia, but globally. If the United States tries but fails to prevent a Chinese takeover of Taiwan, the impact could be equally devastating unless there is a concentrated, coordinated U.S. attempt with likeminded allies and partners to halt further Chinese aggression and eventually roll back Beijing’s ill-gotten gains. This is not a hypothetical assessment. Taiwan has been increasingly under the threat of a military takeover by the People’s Republic of China (PRC) and, even today, is under attack politically, economically, psychologically, and through so-called “gray zone” military actions short of actual combat. The U.S. government, U.S. allies, and others have begun to pay attention to this problem, yet to this day, they have not sufficiently appreciated the strategic implications that such a takeover would generate. To address this problem, the Pacific Forum has conducted a multi-authored study to raise awareness in Washington, key allied capitals, and beyond about the consequences of a Chinese victory in a war over Taiwan and, more importantly, to drive them to take appropriate action to prevent it. The study, which provides six national perspectives on this question (a U.S., Australian, Japanese, Korean, Indian, and European perspective) and fed its findings and recommendations into the second round of the DTRA SI-STT-sponsored (and Pacific Forum-run) Track 2 “U.S.-Taiwan Deterrence and Defense Dialogue,”[1] outlines these strategic implications in two alternative scenarios. In the first scenario, China attacks Taiwan and it falls with no outside assistance from the United States or others. In the other scenario, Taiwan falls to China despite outside assistance (i.e., “a too little, too late” scenario).
- Topic:
- Security, Conflict, Crisis Management, and Regional Politics
- Political Geography:
- Japan, China, Europe, India, Taiwan, Asia, Korea, and United States of America
4. Does Station Name Matter?: Rent Seeking Behavior and Its Impact on Housing Prices
- Author:
- Hwiwon Seo and Minsik Choi
- Publication Date:
- 01-2022
- Content Type:
- Working Paper
- Institution:
- Political Economy Research Institute (PERI), University of Massachusetts Amherst
- Abstract:
- The purpose of this study is to investigate the effect of rent-seeking behavior for public goods on housing prices. To do so, we analyzed the case of renaming the Sinchoeon station to Jamsilsaenae station for the Seoul Metro Green line by applying the rent seeking theory and estimated the effect of the event on the housing prices of the affected neighborhood. The hedonic pricing model adopted by related studies does not produce unbiased estimates due to the endogeneity resulted from omitted variables including compounding macroeconomic variables. By developing a new dataset, we used the difference in differences regression method that produces more precise and unbiased estimates. Our results show that the housing prices affected by the renaming event increased by around 5% compared to those of non-affected neighborhood. Our analytical results can shed light on understanding related rent seeking behaviors for public goods provision.
- Topic:
- Economy, Macroeconomics, Housing, and Rent-seeking
- Political Geography:
- Asia and Korea
5. Korean Newspapers, Korean Sovereignty over Dokdo and Ulleungdo, and Early Japanese Intrusions
- Author:
- Kyu-hyun Jo
- Publication Date:
- 04-2022
- Content Type:
- Journal Article
- Journal:
- International Journal of Korean Studies
- Institution:
- International Council on Korean Studies
- Abstract:
- Contrary to the Japanese Foreign Ministry's claim that Koreans never demonstrated any clear basis for its claims that it had taken effective control over Dokdo (Takeshima) before 1905, the Ministry ignores the critical role of the Korean media, especially major Korean newspapers such as the Hwangsŏng Newspaper and Dongnip Sinmun (Independent), in publicizing and mobilizing Korean nationalism through a sustained assertion of Korean sovereignty over Dokdo. By publishing articles which officially denounced Japanese intrusion into Dokdo or the Japanese government's feigned ignorance and disregard for such an act, or articles which explicitly discussed the long history of Korea's recognition of Dokdo and Ulleungdo as her nascent territories, Korean newspapers not only expressed Korean nationalism by incorporating anti-Japanese sentiment. They also emphasized Korea's ancient consciousness of national unity by clearly declaring that at the heart of such nationalism and rhetoric was a strong identification of Dokdo and Ulleungdo as Korea's historic territories. Korean newspapers were instrumental in publicizing Korean consciousness about Dokdo and Ulleungdo by not only reporting on Japanese intrusions into Dokdo, educating the Korean public on the ancient history of Dokdo and Ulleungdo, but also serve as crucial evidence proving that Japan willfully ignored Korea's national sovereignty and judicial authority to wrest away Korean sovereignty over Dokdo and Ulleungdo.
- Topic:
- Sovereignty, History, Newspapers, and Intrusion
- Political Geography:
- Japan, Asia, and Korea
6. Transitional Justice and Reconciliation in Asia: Lessons Learned from Korea, Sri Lanka, and Taiwan
- Author:
- Hun Joon Kim
- Publication Date:
- 07-2022
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- In this issue briefing, Dr. Hun Joon Kim, professor of Political Science and International Relations at Korea University, provides an overview and analysis of the ADRN’s Working Paper Series on Transitional Justice and Reconciliation in Asia. He finds that in Sri Lanka, Korea, and Taiwan, past instances of human rights violations were complex and unique; perpetrators, international dynamics, and the inevitable “politicization” of justice efforts have each created unique obstacles to and nuances in the pursuit of justice. Kim argues, however, that a few conclusions can be drawn from the three cases: first, that the trend in Asia is towards justice and away from impunity; second, that the transitional justice process is gradual, winding, and cannot be solved in one fell swoop; and third, that transitional justice is not simply a state-led process-the pursuit of reconciliation involves the entire nation: government, civil society, and civilians.
- Topic:
- Human Rights, Transitional Justice, Accountability, Reconciliation, and Reparations
- Political Geography:
- Taiwan, Asia, Sri Lanka, and Korea
7. Next steps for the US-China strategic nuclear relationship
- Author:
- David Santoro, David C. Logan, Vahid Brown, Heather Williams, and Duyeon Kim
- Publication Date:
- 10-2022
- Content Type:
- Special Report
- Institution:
- Pacific Forum
- Abstract:
- Conducted with the generous support of the Carnegie Corporation of New York, this study seeks to provide an in-depth analysis of strategic nuclear issues of significance to the bilateral relationship to pinpoint the challenges to, and opportunities for, improving the current state of affairs between Washington and Beijing. The study, in other words, aims to propose an assessment of key issues and, insofar as possible, solutions or mitigation measures to address US-China strategic nuclear problems, including those that are seemingly intractable. It is motivated by the idea that even (or perhaps especially) when stark pessimism dominates, it is essential to be clear about what is in “the realm of the possible” to improve the situation, and to act on it.
- Topic:
- Security, Nuclear Weapons, Bilateral Relations, Nonproliferation, Strategic Competition, and Strategic Interests
- Political Geography:
- China, Asia, North America, Korea, and United States of America
8. Limits of Public Diplomacy and Soft Power: Lessons from the THAAD Dispute for South Korea's Foreign Policy
- Author:
- Maximilian Ernst
- Publication Date:
- 04-2021
- Content Type:
- Working Paper
- Institution:
- Korea Economic Institute of America (KEI)
- Abstract:
- This paper examines South Korea’s foreign policy towards China before, during, and after the Terminal High Altitude Area Defense (THAAD) missile defense dispute to investigate the limits of South Korea’s public diplomacy and soft power. South Korea’s official public diplomacy has the objective to “gain global support for Korea’s policies,” following Joseph Nye’s narrow definition of soft power. South Korea furthermore ranks high in the most relevant soft power indices. Based on the case of Chinese economic retaliation against South Korea in response to THAAD deployment, this paper argues that public diplomacy and soft power only work in the absence of traditional security contentions, but fail in the presence of such security contentions. The THAAD case also demonstrates the utility of traditional diplomacy, based on high-level summits and negotiations, to solve the very disputes that South Korea’s latent public diplomacy and soft power were unable to alleviate.
- Topic:
- International Relations, Foreign Policy, Diplomacy, Economics, and Weapons
- Political Geography:
- China, Asia, South Korea, and Korea
9. Northeast Asia Defense Transparency Index 2020-21
- Author:
- M. Patrick Hulme and Tai Ming Cheung
- Publication Date:
- 02-2021
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- Growing distrust in East Asia, especially in the security arena, is increasingly critical as new and long-standing hotspots— including the Taiwan strait, Korean peninsula, East China Sea, and South China Sea—become more volatile. The need for confidence-building measures is clear, and a central tool of confidence building is defense transparency. The Defense Transparency Index (DTI), a project of the University of California’s Institute on Global Conflict and Cooperation, ranks six countries on their efforts to promote transparency in defense and national security, including the People’s Republic of China, Japan, the Democratic People’s Republic of Korea (DPRK), the Republic of Korea, and the major external powers most involved in the region—the United States and Russia.
- Topic:
- Security, Defense Policy, Geopolitics, and Transparency
- Political Geography:
- Russia, Japan, Taiwan, East Asia, Asia, North Korea, Korea, East China, and United States of America
10. Developing Effective Benchmark-Based Allocation for Industrial Sectors: The Case of the Korean ETS
- Author:
- Dong-Hyeok Kwon and Alistair Ritchie
- Publication Date:
- 06-2021
- Content Type:
- Working Paper
- Institution:
- Asia Society
- Abstract:
- Emissions trading systems (ETS) are increasingly being introduced as a way of cost-effectively reducing greenhouse gas emissions to meet ambitious national climate change targets, including Nationally Determined Contributions and net-zero long-term goals under the Paris Agreement. A key concern for governments and industry, however, is how to protect industry’s global competitiveness and prevent “carbon leakage”, that is, the transfer of production to world regions with less ambitious climate policies that would lead to an increase in total emissions. To address this concern, ETS allowances are typically allocated for free to greenhouse gas (GHG)-intensive or trade-intensive industries at risk of carbon leakage. The type of free allocation design is important because it directly impacts on the financial performance of companies. It also determines how companies are rewarded. Those that have invested more in GHG reduction technologies will be rewarded better under a benchmark (BM)-based allocation approach, where allocation is based on the level of production multiplied by an emissions intensity benchmark. Those that have invested less in such technologies will be rewarded better under a grandfathered approach, where allocation is based on historic emissions. However, while BM-based allocation is generally regarded as a fairer method, it is also considered more difficult to design and implement. This Asia Society Policy Institute issue paper, Developing Effective Benchmark-Based Allocation for Industrial Sectors: The Case of the Korean ETS, shows how BM-based allocation has been successfully implemented for some of Korea’s most important industrial sectors, steel and petrochemicals. It provides valuable insights and recommendations for other countries to develop an effective allocation system in a timely and efficient way.
- Topic:
- Climate Change, Trade, Carbon Emissions, and Paris Agreement
- Political Geography:
- Asia, South Korea, and Korea
11. The New Southern Policy Plus: What’s New and What’s Next?
- Author:
- Moe Thuzar
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- Building on the New Southern Policy (NSP) implementation experience, and in recognition of the uneven impact of the Covid-19 pandemic on different populations in ASEAN, the ROK may consider the following operational dimensions of implementing the NSP Plus’ strategic thrusts. First, consultation of ASEAN’s collective and individual needs on each of the core strategy areas, leveraging on the ROK’s willingness to share and adapt its successful practices to meet the needs of its ASEAN partners. Second, synchronizing or aligning the NSP Plus’ regional thrusts with the ROK’s bilateral programs in the ASEAN countries, to ensure a seamless continuity of matching regional-level support with in-country requirements. Third, instituting a periodic or mid-term review mechanism for the NSP Plus implementation may help early identification of areas or priorities to adjust or revise, taking into account emerging needs and concerns. Ultimately, the ROK’s NSP niche will be the quality of its impact, in areas where the ROK’s strengths speak most to its “new southern neighbors.”
- Topic:
- Economy, ASEAN, and Regional Economy
- Political Geography:
- Asia and Korea
12. Field-by-Field Changes in China since Covid-19 and Implications for Korea
- Author:
- Jai Chul Heo
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- China has been able to escape from the Covid-19 outbreak relatively quickly compared to other countries. Nevertheless, it still remains greatly influenced by the Covid-19 pandemic across its politics, economy, society, culture, and other areas, which has led to various changes throughout China. Therefore, this study comprehensively examined the impact of the Covid-19 outbreak on various aspects of Chinese politics, economy, society, and culture. And in response to these changes in Chinese society, the study explores new strategies toward China in the post-Covid-19 era.
- Topic:
- Politics, Culture, Economy, COVID-19, and Society
- Political Geography:
- China, Asia, and Korea
13. The Effects of Free Trade Agreements on SMEs’ Direct and Indirect Exports
- Author:
- Kyong Hyun Koo
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- FTAs have been known to have large positive effects on trade creation between member countries. However, it is relatively unexplored how much small/medium-sized enterprises (SMEs) accounted for in the trade creation due to FTAs compared to large-sized enterprises (LEs). We find that Korean FTA policies have significantly increased SMEs’ direct exports to FTA partner countries between 2005 and 2017, although the effects were as much as a half of those for LEs, which indicates a considerable LEs’ premium in the direct export effects of FTAs. We further find that the FTAs also significantly increased the indirect exports of Korean firms, i.e., the domestic input supplies through in-dustrial input-output linkage, and that SMEs have benefited more from the indirect export effects of FTAs than LEs. Considering the direct and indirect export effects together, the LEs’ premium in the total export effects of FTA is found to become smaller.
- Topic:
- Treaties and Agreements, Economy, Free Trade, Exports, Trade, and Industry
- Political Geography:
- Asia and Korea
14. The Determinants and Welfare Implications of Labor Share
- Author:
- Sungbae An, Minsoo Han, Subin Kim, and Jinhee Lee
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- The decline in labor share is recognized as a global phenomenon. Concerns have been raised that this trend will exacerbate the income inequality between business owners as capitalists and households as the labor suppliers, prompting a decline in household income and consumption, which are major driving forces for sustainable growth. Meanwhile, various policy measures have been introduced to raise the labor share, with the aim of correcting inequality and boosting growth. This study explores the determinants of labor share and analyzes the effects of these factors on the economy and social welfare, offering various interpretations and policy alternatives according to economic conditions.
- Topic:
- Labor Issues, Inequality, Economy, Business, and Welfare
- Political Geography:
- Asia and Korea
15. What’s in the New Southern Policy Plus? An ASEAN Perspective on Building Niche-based Pragmatic Cooperation with South Korea
- Author:
- Chiew-Ping Hoo
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- It is clear that the NSP started off with the right messages and many Southeast Asian countries have been receptive to the initiatives. Despite the pandemic bringing a lot more challenges in implementing the policy initiatives, the NSP Plus has envisioned an innovation-oriented cooperation by transforming the traditional face-to-face operations to electronic and digitalized management. Public health cooperation is understandably the immediate focus, but such cooperation should be also seen as long-term fulfilment of the cooperation on the People pillar in the NSP. Infrastructure connectivity and South Korea’s cooperation in the building of an evolving East Asian regional architecture respectively enhance the Prosperity and Peace pillars. With patience, dedication, and commitment, the NSP Plus will be a long-lasting foreign policy legacy of Moon that brings benefits to Korea, ASEAN, and regional stability.
- Topic:
- Foreign Policy, Regional Cooperation, Political stability, Public Health, and ASEAN
- Political Geography:
- Asia, Korea, and Southeast Asia
16. Twenty Years of One Country Two Systems in China: Evaluation and Future Prospects
- Author:
- Jai Chul Heo
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- This study evaluated China's model of “One Country, Two Systems” (一國兩制) 20 years into operation and the bilateral relationship between Taiwan and Mainland China ‒ focusing on Hong Kong, Macau, and Taiwan ‒ and examined future prospects. The study is meaningful in that it conducts a more objective evaluation than the previous studies by empirically analyzing data accumulated over the past 20 years of implementation of the One Country Two Systems principle from various perspectives. In addition, it is also a timely study in that it analyzes how the One Country Two Systems arrangement is likely to develop in the future, and what impact this would have, making considerations for changes in China's national strategy during the Xi Jinping period and the competition for hegemony between the U.S. and China. The results of the analysis indicate that over the past 20 years China has been experimenting with the possibility of coexisting different systems in one country, and that the One Country Two Systems arrangement, as a new form of unification which has never been attempted in the history of mankind, has actually shown the possibility of success. However, in recent years, various political contradictions have been exposed in the process of implementing the arrangement, mostly in the Hong Kong society, and the resulting conflict has gradually intensified. While maintaining the current capitalist system for 50 years, Macau is expected to gradually progress in its “Sinicization,” with continuing active economic and social exchanges and cooperation with mainland China. As a result, Macau is expected to be fully incorporated into China's socialist system in 2049, 50 years after the return, but it is likely to remain a city of special character considering Macau's region and its economic structure. On the other hand, the One Country Two Systems arrangement with Hong Kong is expected to undergo a difficult process in the future. In the midst of various conflicts surrounding Hong Kong, the guarantee for Hong Kong’s autonomy is expected to end in 2047 amid efforts on the part of the mainland government to sinicize Hong Kong. And China wants to apply the philosophy of “One Country, Two Systems” to its reunification with Taiwan as well, but in reality this remains very low in possibility.
- Topic:
- Foreign Policy, Politics, Bilateral Relations, Hegemony, and Strategic Competition
- Political Geography:
- China, Taiwan, Asia, Korea, Hong Kong, and Macau
17. Labor Market Impact of Immigration in the European Union
- Author:
- Dong-Hee Joe
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- Immigration is one of the factors often considered as the causes of Brexit. Researchers find evidences that regions with more immigrants from the new member states of the European Union (EU hereinafter) in eastern Europe tended to vote more in favor of Brexit in the 2016 referendum. Similar relations between the size of immigrant population and anti-immigration attitudes or far-right voting are found in other richer EU member states. A common explanation for this relation is the concern that immigrants negatively affect the outcome in the host labor market. Immigration is drawing attention in Korea too. Although immigrants' share in population is still substantially smaller in Korea than in the EU, its increase is noticeable. Also, certain industries in Korea are known to be already heavily reliant on immigrant labor. Recently, as entry into the country was tightened due to the COVID-19 pandemic, firms and farms are reported to have faced a disruption in production. This trend of increasing presence of immigrants in population and in the labor market, vis-à-vis the low fertility rate and rapid aging in Korea, is raising interest and concern on the socioeconomic impact of immigration. To offer some reference for the debates related to immigration in Korea, KIEP researchers (Joe et al. 2020 and Joe and Moon 2021) look at the EU, where immigrants' presence was much higher from much earlier on, and where the greater heterogeneity among the immigrants allows for richer analyses. This World Economy Brief presents some of their findings that are salient for Korea.
- Topic:
- Immigration, European Union, Brexit, and Labor Market
- Political Geography:
- Britain, Europe, Asia, and Korea
18. China’s FDI in Europe and Europe’s Policy Response
- Author:
- Pyoung Seob Yang, Cheol-Won Lee, Suyeob Na, Taehyn Oh, Young Sun Kim, Hyung Jun Yoon, and Yoo-Duk Ga
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- China’s investment in the European Union (EU) increased significantly during the European financial crisis, but has been on the decline in recent years. The surge of Chinese investment has raised concerns and demands for analysis on the negative effects it could have on the EU companies and industries. In this context, the present study aims to analyze the main characteristics of Chinese investment and M&A in Europe, major policy issues between the two sides, the EU’s policy responses, and prospects of Chinese future investment in Eu-rope, going on to draw important lessons for Korea. To summarize the main characteristics of China's investment in Europe, the study found that the EU's share of China's overseas direct investment has continued to increase until recently. Second, investment in the Central and Eastern European Countries (CEECs) is gradually increasing, although it is still insignificant compared to the top five destinations in the EU: Netherlands, Sweden, Germany, Luxembourg and France. Third, China's investment in the EU is being made in pursuit of innovation in manufacturing and to acquire high-tech technologies. When it comes to China's M&A in Europe, the study found that the proportion of indirect China's M&As (via third countries (e.g. Hong Kong) or Chinese subsidiaries already established in Europe) was relatively higher than direct ones. Empirical factor analysis of investment also shows that China's investment in the EU is strongly motivated by the pursuit of strategic assets. Other factors such as institutional-level and regulatory variables are found to have no significant impact, or have an effect contrary to expectations. This suggests that China's investment in the EU is based on the Chinese government's growth strategy, and accompanies an element of national capitalism Today, It is highly expected that the COVID-19 pandemic will have a reorganizing effect on the global value chain (GVC) and Foreign investment regulation in the high-tech sector motivated by national security is emerging as a global issue as the US and the EU are tightening their control. As Korean companies are not free from the risk of falling under such regulations, a thorough and careful response is required. And for the Korean government, it is necessary to prepare legal and institutional measures regulating foreign investment in reference to the US and the EU.
- Topic:
- Foreign Direct Investment, Financial Crisis, European Union, Economy, Economic Growth, Global Value Chains, and COVID-19
- Political Geography:
- China, Europe, Asia, Korea, and United States of America
19. Changing Environment for Opening of Chinese Financial Sector and Implications
- Author:
- Sangbaek Hyun, Suyeob Na, Young Sun Kim, Koun Cho, and Bongkyo Seo
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- The opening of China's financial sector has progressed at a very slow pace, unlike the manufacturing and trade sectors that have pushed for an active opening to the outside world. The Chinese economy has been growing rapidly while serving as a global production base, but since 2012, it has become necessary to modify its approaches to achieve growth as it enters an era of medium-speed growth. Recently, new reform and opening measures have been taken in various fields to improve the quality of the Chinese economy, and the need for reform and opening in the financial sector has also increased. Internally, the financial system centered on China's state-owned commercial banks has focused on indirect financing, which has served as a major obstacle to upgrading China's economy and industry to the next level, further increasing the need for reform and opening of the financial sector. Moreover, externally, the U.S.-China conflict which began in earnest in 2018, is applying strong pressure toward reform and opening in China’s financial sector. The Chinese government began to show a proactive attitude toward financial opening amid such internal needs and external pressure, and an important development was seen in China’s financial opening when President Xi Jinping declared further opening measures at the Boao Forum in April 2018. The Chinese financial authorities have prepared follow-up measures related to financial opening, and the Chinese government’s efforts toward financial opening in the three years from 2018 to 2020 yielded more results than the ten-year opening period since its accession to the WTO. Against this backdrop, this study examines the main contents of China’s financial opening process, which has been accelerating recently, and derives evaluation and implications.
- Topic:
- Finance, Economy, Economic Growth, and Banks
- Political Geography:
- China, Asia, and Korea
20. A Comprehensive Evaluation on Korea’s ODA to Rwanda’s Agriculture Sector and Its implications for Strategic Approaches
- Author:
- Young Ho Park, Minji Jeong, and Soo Hyun Moon
- Publication Date:
- 01-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- There has been a growing consensus in the national and international aid architecture that sporadic or scattered aid modality should be avoided. This study conducted a comprehensive cluster evaluation on Korea’s agricultural ODA to Rwanda between 2013 and 2017, with two newly devised indexes: Cluster Performance Index (CPI) and Resource Allocation Index (RAI). Every Korean agricultural ODA project was categorized into five clusters and numerically evaluated against criteria widely used in the evaluation of development projects: relevance, efficiency, effectiveness and sustainability. Our cluster evaluation reveals that projects are mostly planned appropriately, but in some clusters, large amounts of the budget have been invested in poorly planned projects. Regarding efficiency, there was considerable room for improvement in all clusters. Particularly, in the Monitoring and Evaluation (M&E) category, all clusters scored below average. Concerning performance evaluation, all clusters scored relatively high in effectiveness, specifically in goal achievement. Lastly, in terms of sustainability, risk management was found to be relatively inadequate in all clusters. Based on the lessons from the aforementioned observations and analysis results, this study suggests ODA quality can be improved by optimizing budget allocation, improving monitoring efficiency, creating synergistic effects through cluster linkage, and developing agricultural value chain program.
- Topic:
- Agriculture, Foreign Aid, Economy, and Value Chains
- Political Geography:
- Africa, Asia, Korea, and Rwanda
21. Economic Policies of GCC Countries in the Era of Low Oil Prices and Their Policy Implications for Korea
- Author:
- Kwon Hyung Lee, Sung Hyun Son, Yun Hee Jang, and Kwang Ho Ryou
- Publication Date:
- 02-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- Over the past several decades, the six member countries of the Gulf Cooperation Council (GCC) have implemented economic policies for industrial diversification to lessen severe dependence on the oil industry. Such policy efforts have been driven by their awareness of macro-economic and structural risks from heavy volatilities in international oil markets in terms of fiscal and trade sectors. For instance, the drop in international oil prices reduces export performance in the oil and natural gas sectors, which in turn results in a decline in the stability of fiscal revenue. The recent trends of low oil prices since 2014, as well as high unemployment rates, have strengthened the policy regime for industrial diversification and job creation supported by mid- to long-term economic plans of the GCC countries. This report reviews what has been emphasized in the areas of industrial, employment, trade and investment policies. We then derive implications for Korean companies and policymakers for sustainable cooperation between Korea and the Middle East.
- Topic:
- Oil, Economy, Diversification, and Trade
- Political Geography:
- Asia, Korea, and Gulf Nations
22. The Effects of US-China Rivalry on Latin America and Their Implications
- Author:
- Sungwoo Hong, Yeo Joon Yoon, Jino Kim, Jeewoon Rim, and Jimin Nam
- Publication Date:
- 02-2021
- Content Type:
- Policy Brief
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- The conflict between the United States and China may be the issue of most importance as well as interest to the world, prior to COVID-19. This conflict between the two countries is appearing not only in the economic sector, but also in various field such as politics, diplomacy, and military affairs. Such competition between the two countries is likely to escalate further as multilateral systems such as the WTO are threatened and protectionism intensifies in the post-COVID-19 world. Even within Latin America, the competition between the two countries frequently appears in a variety of forms. Conflicts between the United States and China in Latin America tend to occur mainly in the infrastructure sectors. Furthermore, the United States pressured Latin American countries to choose between the United States and China, with the results of this pressure depending on the political orientation of the ruling government. In order to investigate the impact of retaliatory tariffs between the two countries on Latin American countries’ exports and welfare, we employ an event analysis for exports and computational general equilibrium (CGE) model for welfare, with Argentina, Brazil, Mexico, and Chile as the subject of our analysis. Based on the outcome of the event study, Brazil’s exports to the United States moderately increased due to the tariff imposition, and such an effect persisted for short term. Its exports to China rose considerably immediately after the tariff imposition, and then the impact tended to decrease over time. By contrast, it is difficult to conclude that the tariff imposition had a statistically significant and lasting effect on the exports of the remaining three countries to the United States and China. As a result of the analysis using the CGE model, meanwhile, the tariffs imposed between the United States and China trivially increased the welfare of Latin American countries.
- Topic:
- Foreign Policy, Economy, Tariffs, Exports, Trade, and Rivalry
- Political Geography:
- China, Asia, South America, Latin America, Korea, and United States of America
23. Five Insights into the ‘Comfort Women’ Protest Movement in South Korea: 2018-2020
- Author:
- Jihyeon Won and Josh Satre
- Publication Date:
- 03-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Armed Conflict Location & Event Data Project (ACLED)
- Abstract:
- Protesters have been gathering in front of the former Japanese Embassy in Seoul, South Korea every Wednesday since January 1992. They call on the Japanese government to officially apologize to Korean victims who were coerced to render sexual services to Japanese military personnel before and during World War II (The Korean Council, 2021). The surviving victims and their supporters advocate for a just resolution to the sexual violence against ‘comfort women’ — those women forced to provide sexual services to Japanese officers and soldiers (Asian Women’s Fund, 2021). As one of the longest-running protest movements in South Korea, the ongoing demonstration movement has gathered broader support over time; has expanded geographically; and, despite obstacles, has continued to be a barometer for Japan-South Korea relations. This report examines five key elements of these demonstrations between January 2018 and December 2020, including the leading role of the Korean Council, the other main actors involved in the movement, the geographic spread of the demonstrations, increased counter-protests, and rising anti-Japan sentiment. As the issue of ‘comfort women’ remains unresolved despite nearly three decades of demonstrations, the movement is likely to persist due to broad support across Korean society, resilience in the face of counter-protest movements, and tense relations between Japan and South Korea.
- Topic:
- Bilateral Relations, Social Movement, Protests, and Comfort Women
- Political Geography:
- Japan, Asia, and Korea
24. Partnering for Africa’s digital future: Opportunities for the United States, South Korea, and India
- Author:
- Aleksandra Gadzala Tirziu
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- Technological competition between the United States and China poses a special dilemma for African nations, whose prosperity depends on doing business with both Beijing and Washington. Although President Joe Biden is expected to assume a softer policy stance toward China—one couched in the language of human rights and liberal values, rather than power and strategic capabilities—competition will persist, driven by Beijing’s ambition to control the key technologies of the future. Rising US-China tensions may eventually force African nations to take sides. Speaking at the 2020 Munich Security Conference, then-US Defense Secretary Mark Esper warned allied nations that the use of Chinese company Huawei’s fifth-generation (5G) technology could compromise future intelligence cooperation with the United States. That’s a real problem for Africa because, together, Huawei and Chinese phone maker ZTE have built nearly 80 percent of Africa’s third-generation (3G) network infrastructure, while Huawei has built 70 percent of all fourth-generation (4G) networks and is competing to build all the future 5G networks in Africa. Chinese mobile-phone maker Transsion Holdings controls 64 percent of Africa’s feature phone market, and more than 40 percent of its smartphone market, and social media platforms such as TikTok and Vskit are fast becoming popular among Africa’s connected youth. For African leaders, disassociation from Beijing is becoming less and less feasible—or attractive. So too is closer alignment with the United States. Washington simply cannot match the large volumes of funding that Beijing extends to the continent. Recent conduct by leading US technology companies, including by Facebook and Google following the 2020 US presidential election, has additionally prompted a global pushback against US “big tech” that could make it harder for the US public and private sectors to compete and hold sway in African markets. Fortunately, there is a third way, both for African countries looking to avoid the crossfires of US-China competition, and for US policymakers seeking to bolster US competitiveness and influence in the region. The solution hinges on closer cooperation with emerging powers, notably South Korea and India, which have recently demonstrated their determination to better understand Africa’s challenges and prospects, and to figure out how their citizens could collaborate with African businesses and governments. For example, in his 2018 address to Uganda’s parliament, Indian Prime Minister Narendra Modi outlined “ten guiding principles for India-Africa engagement” that center on cooperation in digitalization, clean-energy technologies, and cybersecurity—a marked detour from the policies that have historically shaped India-Africa ties. South Korea-Africa relations under President Moon Jae-In have also entered a new phase, with an emphasis on commercial linkages and people-to-people collaboration. Both South Korea and India are rapidly expanding their technological capabilities, and their foreign policies also align well with US interests in the region, and vis-à-vis China. For Washington, cooperation with these emerging powers could keep the door open to US influence in Africa, and could help ensure that Beijing’s strategic foothold in the continent does not deepen. For African countries, such partnerships could help bypass the “either-or-ism” implicit in US-China competition, while encouraging greater diversity and agency in their foreign affairs. There is real opportunity for African states to realize the potential that such alliances could create, and to become significant multilateral actors, able to leverage their distinct assets and pursue their own interests. This report explores how.
- Topic:
- Science and Technology, Economy, Business, Space, and Innovation
- Political Geography:
- India, Korea, and Africa
25. The Special Role of US Nuclear Weapons
- Author:
- Matthew Kroenig
- Publication Date:
- 09-2021
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- This issue brief is based on Dr. Matthew Kroenig’s written testimony at a hearing on “Nuclear Deterrence Policy and Strategy” before the Strategic Forces Subcommittee of the Armed Services Committee of the United States Senate, conducted on June 16, 2021. US nuclear weapons play a special role in underpinning international peace, global security, and the US-led, rules-based international system. The nuclear threat to the United States and its democratic allies is growing: nuclear-armed, revisionist, autocratic powers (Russia, China, and North Korea) are relying more on nuclear weapons in their strategies, and they are modernizing and expanding their arsenals. In this new issue brief, the Scowcroft Center’s Matthew Kroenig explains why the United States needs to retain a robust, flexible, and modernized nuclear force to meet its national security objectives.
- Topic:
- Defense Policy, Nuclear Weapons, Science and Technology, Missile Defense, and Deterrence
- Political Geography:
- Russia, China, Iran, Asia, Korea, and United States of America
26. Nuclear priorities for the Biden administration
- Author:
- John Harvey and Robert Soofer
- Publication Date:
- 12-2021
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- How can the administration of President Joseph R. Biden both address the deteriorating international security environment and follow through on campaign promises to reduce the role of nuclear weapons? Former nuclear deterrence policymakers John R. Harvey and Robert Soofer, from Democratic and Republican administrations, respectively, contend in this issue brief that the Biden administration can address the increasing nuclear threat to the United States, meet its commitment to reduce the role of nuclear weapons, and maintain bipartisan support for US nuclear policy.
- Topic:
- Defense Policy, Nuclear Weapons, Science and Technology, Nonproliferation, Missile Defense, and Deterrence
- Political Geography:
- Russia, China, Iran, Asia, Korea, and United States of America
27. The Implications of Korea’s Experience Supporting Democracy as a Global Narrative
- Author:
- Taekyoon Kim
- Publication Date:
- 10-2021
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- With many developing countries in need of help in settling democratization processes and systems, Korea is in a position to act as a bridge between developed and developing countries by sharing its knowledge and experience in democracy and political reform. Taekyoon Kim, a professor at Seoul National University, describes the main contents of Korea’s democratic aid, how to share the Korean democracy experience and the challenges and strategies for Korean democracy in the future. Through this, the author states that the direction of Korea’s democracy should move forward based on its experience and that Korea should use its democratic aid as an asset so that Korea can be recognized as a symbol of peace and democracy in East Asia.
- Topic:
- Democratization, Development, Reform, Democracy, and Peace
- Political Geography:
- South Korea and Korea