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31. The Sun Sort-of Rises: The “Strong and Prosperous” Slogan in Recent North Korean Fiction

Author:
Meredith Shaw
Publication Date:
12-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Kim Jong-un’s sudden ascent as leader came at a significant time for North Korea—a year that had coincidentally been long foreshadowed in state media as the “dawn of the strong and prosperous era.” Yet the new leader had different priorities and a different idea of what strength and prosperity looked like than his forebears, and this has resulted in notable changes to lifestyle and landscape. In a state notoriously resistant to policy changes, propaganda tools such as state fiction were able to repurpose the existing “strong and prosperous” slogan to lend legitimacy to new initiatives and social trends encouraged by the new leadership. Through a thematic analysis of new North Korean fiction, this paper examines how “strong and prosperous” and related buzzwords have been tied to changes in architecture, culture, science and technology, leisure, entertainment, and daily living. In addition to the author’s close reading of recent North Korean literature, this research draws upon analysis by leading South Korean analysts of North Korean literature and the testimony of North Korean defectors.
Topic:
Culture, Media, Literature, and Propaganda
Political Geography:
Asia and North Korea

32. Unification in Action? The National Identity of North Korean defector-Migrants: Insights and Implications

Author:
Christopher Green and Stephen Denney
Publication Date:
10-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
What can the resettlement of North Korean defector-migrants into South Korean society today tell us about Korean national identity and the likely challenges of integrating the two Koreas tomorrow? In this paper, we report findings from a 2016 national identity survey of 334 North Korean defector-migrants currently residing in South Korea. It compares responses to that of native South Koreans and considers in-group differences of opinion. Overall, we find no substantive identity divergences between those from North Korea and native South Koreans. We do, however, find evidence of significant in-group identity differences, namely cohort effects. Older defector-migrants are more likely to see their “Koreaness” as defined by ethnocultural traits, feel closer to South Korea, and be more “patriotic” than younger migrants.
Topic:
Demographics, Migration, Refugees, and Domestic politics
Political Geography:
Asia, South Korea, North Korea, and Korea

33. The Evolution of the North Korean Nuclear Program: from Survival Strategy to Ideological Legitimization

Author:
Marco Milani
Publication Date:
06-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
In recent years the North Korean nuclear program has increasingly become a major concern for East Asian security. Pyongyang has repeatedly demonstrated its advancements in both missile and nuclear technology, with the final goal of acquiring a credible nuclear deterrent. To achieve this goal, the regime has committed a vast amount of state resources and has jeopardized relations with neighboring countries and major powers. This dangerous situation has created instability in the region and has hindered the possibilities of inter-Korean dialogue and cooperation. The traditional interpretation of the North Korean nuclear program focuses on the survival of the regime and emphasizes the military aspect of security. While these factors play a significant role, over the last twenty-five years new roles have emerged for the nuclear program. Survival remains the priority, but in addition to the military level of nuclear deterrence this paper introduces two different aspects directly connected to the security of the regime: economic security and domestic ideological legitimization. The development of nuclear weapons has been repeatedly used by Pyongyang as leverage in negotiations and to strengthen its political legitimacy. Understanding the complexity and the different factors behind this strategy is crucial to design and implement a viable and effective strategy aimed at limiting or eliminating the North Korean nuclear threat.
Topic:
Security, Diplomacy, Nuclear Weapons, Bilateral Relations, and Denuclearization
Political Geography:
East Asia, Asia, South Korea, North Korea, and Korea

34. Making Korea Grow Again: Rebalancing the Moon Jae-in Economic Agenda

Author:
Choong Yong Ahn
Publication Date:
05-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
The Moon Jae-in administration in South Korea has taken a two-pronged approach to ensure urgently needed job creation and inclusive growth. Although measures towards each set of economic policies have been implemented since Moon took office in May 2017, what’s often referred to as “incomeled growth” has been prioritized over innovative growth. The income-led growth model is largely driven by domestic consumption through pro-labor distributional policies including a wage hike to raise the disposable income of low- and middleincome individuals, thereby triggering equity with growth. Focused more on the supply side, the innovative growth model encourages startups to create jobs and innovate. It is a great challenge for Korea to pursue growth and equity through both sets of policies. After a year in office, the Moon administration’s economic agenda, often referred to as J-nomics, has not fully produced the intended policy objectives in terms of job creation and growth. To mitigate a declining potential growth rate and pursue robust and inclusive growth, the twin policies need to be rebalanced, reprioritized, and interconnected in a mutually reinforcing manner to empower the private sector to play a bigger role. As a mid-sized open economy, Korea requires global market competitiveness on the supply side to create decent jobs by buoying entrepreneurship and innovation. Structural reforms in the labor market combined with deregulations necessary for the advent of disruptive 4th-industrial-revolution technologies must be expedited. Furthermore, a new business ecosystem in which win-win collaborations between globally-oriented conglomerates and small businesses must be encouraged to replace a zero-sum business culture.
Topic:
Economics, Science and Technology, Global Markets, and Economic growth
Political Geography:
Asia, South Korea, and Korea

35. The Economic Importance of the KORUS FTA: A Case Study of the Korean Beef Market After Renegotiations

Author:
Jin Kyo Suh
Publication Date:
05-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Beef trade was a major sticking point between the United States and South Korea in ratifying the KORUS FTA. The outcome of the renegotiations that led to the March 2018 agreement in principle did not impact sections pertaining to beef in the agreement, though looking at how beef trade would have been affected should the talks have failed highlights the importance of the agreement to both countries, but particularly the United States. This paper estimates the demand for imported beef in South Korea by source and product by using the production version of the Rotterdam demand system and assesses what the potential impact of U.S. withdrawal from the KORUS FTA would have been on beef trade between the U.S. and South Korea. The results suggest U.S. withdrawal from the KORUS FTA would have resulted in a considerable increase in Australian beef exports to South Korea, largely at the expense of U.S. beef. This is because there is significant price competition between beef imports from the United States and Australia. Furthermore, Korean consumers substitute American beef for Australian beef when the relative price of U.S. beef rises.
Topic:
Economics, Treaties and Agreements, Exports, and Trade Policy
Political Geography:
Asia, South Korea, North America, Korea, and United States of America

36. Science Diplomacy: An Underestimated Toolkit of South Korea’s Foreign Policy

Author:
Olga Krasnyak
Publication Date:
04-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Science diplomacy is becoming increasingly popular in foreign policy. Branching out of public diplomacy, science diplomacy is a sophisticated and knowledge-based toolkit to secure and promote foreign policy objectives. Unlike the U.S., the best example of how effective science diplomacy can be, South Korea does not recognize science diplomacy as a source of soft power. This paper looks at ways to incorporate science diplomacy into Seoul’s foreign policy agenda, the benefits from which will further its goals in advancing South Korea’s image as an attractive, cooperative, and influential country. Building South Korea’s reputation as among the core of scientifically developed countries will not only enhance commercial benefits, but also help address the current security dilemma, shape future geopolitical outcomes in a multi-polar world, and accelerate Korea’s participation in emerging scientific endeavors such as space exploration.
Topic:
Foreign Policy, Diplomacy, and Science and Technology
Political Geography:
Asia and South Korea

37. A Way Out of the North Korean Labyrinth

Author:
Stephen Blank
Publication Date:
03-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
The sudden announcement of a North Korea-U.S. summit in March 2018 upended all previous diplomacy concerning North Korea’s nuclear program. In return for a bilateral presidential summit, Pyongyang has agreed to suspend testing of its nuclear and missile programs and accepted the continuation of scheduled U.S.-South Korea exercises as planned. While this unexpected development reduces tensions and opens up a political path to a solution on the Korean Peninsula, it also imparts increased urgency for a well-conceived U.S. diplomatic strategy so that the summit and any ensuing negotiations lead to positive outcomes for Washington and Seoul and the other interested parties, thus ensuring its sustainability. In this context, the author advances an assessment of the current situation and a proposal for a U.S. program that could reduce military tensions in and around Korea, lead to the stabilization of a new and legitimate equilibrium in Northeast Asia, and advance shared American, South Korean, and Japanese objectives.
Topic:
International Relations, Security, Foreign Policy, Weapons, and Denuclearization
Political Geography:
Asia, South Korea, North Korea, North America, Korea, and United States of America

38. Corporate Debt Market in Korea

Author:
Paul Moon Sub Choi
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Korea Economic Institute of America (KEI)
Abstract:
This report conducts an analysis of the corporate bond market in Korea and the changes in interest rates and term structure since the 1997 Asian financial crisis. The potential risks and solutions for stabilizing the corporate debt market are discussed. Corporate bonds not only play an important role in financing long-term corporate investments but also have a positive and persistent influence on enhancing the capital markets. Thus, the authorities in Korea have attempted to increase the proportion of corporate bonds, which is a means of direct financing, rather than bank loans. Implementing specific plans to stabilize the corporate debt market that are mentioned in this report are critical to sustaining the Korean capital markets as a means towards continued economic growth and prosperity.
Topic:
Debt, Markets, Financial Crisis, Economy, and Investment
Political Geography:
Asia, South Korea, and Korea

39. Progress and Implications of the China-Korea FTA

Author:
Li Si-qi, Tu Xin-quan, and Liu Bin
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Korea Economic Institute of America (KEI)
Abstract:
The article focuses on the China-Korea FTA, analyzing the background of China-Korea bilateral economic relations, the characteristics of the China-Korea FTA and more importantly, the implications and future prospect of this free trade pact. So far, the China-Korea FTA is considered to be the most comprehensive compared with China's previous FTAs and may be the largest in trade terms among all the FTAs concluded by Korea and China, playing a positive role in advancing economic integration in the Asia-Pacific region. However, with lots of exceptions to tariff elimination and market access, as well as a 20-year transition period, the present version of the China-Korea FTA is far from the best in terms of the depth of liberalization and the scope of obligations on trade and investment rules. The recent bilateral diplomatic tensions due to the decision of deploying the THAAD missile system by the Korean government may also jeopardize bilateral economic ties between China and Korea, and further increase uncertainties of the China-Korea FTA. It remains to be seen whether the Chinese and Korean governments will handle this issue smoothly under the present sensitive political atmosphere and achieve substantial progress in follow-up FTA negotiations on services and investment.
Topic:
Diplomacy, Economics, Bilateral Relations, and Regional Integration
Political Geography:
China, Asia, South Korea, and Korea

40. Korea's Economic Relations with Japan

Author:
Kim Gyu-Pan
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Korea's economic relations with Japan, which were re-established as a result of the diplomatic normalization between the two countries in 1965, have transformed from dependent to interdependent. The extraordinary economic growth that Korea accomplished during the post-war period was largely due to intermediate goods imported from Japan, and technical cooperation and joint ventures with Japanese enterprises. However, in the 21st century, the dependence of Korean firms on Japanese technology has somewhat declined as global enterprises have appeared in Korea. In contrast to the post-war economic boom, Japanese companies now prefer to cooperate with their Korean counterparts, resulting in joint business ventures between Korean and Japanese firms being continuously developed. This reversal in the economic ties between Korea and Japan can be attributed to several reasons including: the rise of China; Japan's two lost decades; and Korea's push for domestic structural reform as well as economic globalization after the Asian Currency Crisis of 1997. Nonetheless, the issue of Korea's trade imbalance with Japan, which was established during the post-war period, still remains thereby serving as a serious impediment to FTA negotiations between Korea and Japan as well as Korea's TPP negotiations.
Topic:
Economics, History, Bilateral Relations, and Trade
Political Geography:
Japan, Asia, South Korea, and Korea