North Korea-South Korea Relations: Never Mind the Nukes?
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South Korea Section 3
DEFENSE WHITE PAPER Message from the Minister of National Defense The year 2010 marked the 60th anniversary of the outbreak of the Korean War. Since the end of the war, the Republic of Korea has made such great strides and its economy now ranks among the 10-plus largest economies in the world. Out of the ashes of the war, it has risen from an aid recipient to a donor nation. Korea’s economic miracle rests on the strength and commitment of the ROK military. However, the threat of war and persistent security concerns remain undiminished on the Korean Peninsula. North Korea is threatening peace with its recent surprise attack against the ROK Ship CheonanDQGLWV¿ULQJRIDUWLOOHU\DW<HRQS\HRQJ Island. The series of illegitimate armed provocations by the North have left a fragile peace on the Korean Peninsula. Transnational and non-military threats coupled with potential conflicts among Northeast Asian countries add another element that further jeopardizes the Korean Peninsula’s security. To handle security threats, the ROK military has instituted its Defense Vision to foster an ‘Advanced Elite Military,’ which will realize the said Vision. As part of the efforts, the ROK military complemented the Defense Reform Basic Plan and has UHYDPSHGLWVZHDSRQSURFXUHPHQWDQGDFTXLVLWLRQV\VWHP,QDGGLWLRQLWKDVUHYDPSHGWKHHGXFDWLRQDOV\VWHPIRURI¿FHUVZKLOH strengthening the current training system by extending the basic training period and by taking other measures. The military has also endeavored to invigorate the defense industry as an exporter so the defense economy may develop as a new growth engine for the entire Korean economy. To reduce any possible inconveniences that Koreans may experience, the military has reformed its defense rules and regulations to ease the standards necessary to designate a Military Installation Protection Zone. -
SYSTEMIC REFORM at a STANDSTILL: a FLOCK of “Gs” in SEARCH of GLOBAL FINANCIAL STABILITY by Roy Culpeper, President, the North-South Institute
SYSTEMIC REFORM AT A STANDSTILL: A FLOCK OF “Gs” IN SEARCH OF GLOBAL FINANCIAL STABILITY by Roy Culpeper, President, The North-South Institute Commonwealth Secretariat/World Bank Conference on Developing Countries and Global Financial Architecture Marlborough House London, 22-23 June 2000 1 SYSTEMIC REFORM AT A STANDSTILL: A FLOCK OF “Gs” IN SEARCH OF GLOBAL FINANCIAL STABILITY by Roy Culpeper, President, The North-South Institute1 Introduction The subject of “Global Governance” became topical in the 1990s with a rash of financial crises, the most far-reaching and dramatic one having started in East Asia in mid-1997 and spread around the world before subsiding during the course of 1999. It is worth recalling, however, that the subject of Global Governance has been a hardy perennial since the breakdown of the original Bretton Woods system a quarter century ago. Its antecedents include the debate on the New International Economic Order in the 1970s; the North-South Summits of the early 1980s; the UNCED negotiations in Rio de Janeiro in 1992; and the chain of ensuing UN conferences throughout the decade – the Vienna conference on Human Rights, the Social Summit at Copenhagen, the Beijing Conference on gender and development, and the Cairo conference on Population and Development. While these discussions have produced a few tangible results, their impact on Global Governance has been minimal. Although it may sound unpleasant to believers in the rationality of a more equitable world order, perhaps a large reason for the failure of these many attempts to reform the global order is that they have been dominated by the poor and the powerless, while the rich and powerful have not been persuaded of the need for significant changes to the status quo. -
South Korea North Korea at a Glance: 2001-02
COUNTRY REPORT South Korea North Korea At a glance: 2001-02 OVERVIEW The leader of the opposition Grand National Party (GNP), Lee Hoi-chang, still looks well placed to win the end-2002 presidential election. The constitution may be amended to allow presidents to serve more than one term. The harder line taken by the new Bush administration towards North Korea may give the North an excuse to slow rapprochement with the South. Real GDP growth in South Korea will slow from 8.8% in 2000 to 3.7% in 2001, before accelerating slightly to 4.7% in 2002. Net trade will make a neutral contribution to GDP growth in 2001 and a negative contribution in 2002. Consumer price inflation will average 3.6% in 2001 and 1.7% in 2002. Lower world oil prices, the won‘s appreciation against the US dollar and the deflationary impact of economic reforms will all moderate inflationary pressures. Key changes from last month Political outlook • The tiny Democratic People‘s Party joined the ruling coalition in March, giving the government a slim majority in the National Assembly (parliament). Economic policy outlook • The Bank of Korea (the central bank) maintained its target interest rate, the overnight call rate, at 5% at its April monetary policy meeting, citing concerns over rising inflationary pressures. Economic forecast • The EIU has revised upwards its forecast for consumer price inflation in 2001 to reflect faster than expected inflation in the first quarter of the year. But we continue to believe that inflation will moderate over the forecast period. May 2001 The Economist Intelligence Unit 15 Regent St, London SW1Y 4LR United Kingdom The Economist Intelligence Unit The Economist Intelligence Unit is a specialist publisher serving companies establishing and managing operations across national borders. -
International Economic and Financial Cooperation: New Issues, New Actors, New Responses
International Economic and Financial Cooperation: New Issues, New Actors, New Responses Geneva Reports on the World Economy 6 International Center for Monetary and Banking Studies (ICMB) International Center for Monetary and Banking Studies 11 A Avenue de la Paix 1202 Geneva Switzerland Tel (41 22) 734 9548 Fax (41 22) 733 3853 Website: www.icmb.ch © 2004 International Center for Monetary and Banking Studies Centre for Economic Policy Research (CEPR) Centre for Economic Policy Research 90-98 Goswell Road London EC1V 7RR UK Tel: +44 (0)20 7878 2900 Fax: +44 (0)20 7878 2999 Email: [email protected] Website: www.cepr.org British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library ISBN: 1 898128 84 7 International Economic and Financial Cooperation: New Issues, New Actors, New Responses Geneva Reports on the World Economy 6 Peter B Kenen Council on Foreign Relations and Princeton University Jeffrey R Shafer Citigroup and former US Under Secretary of the Treasury Nigel L Wicks CRESTCo and former Head of HM Treasury Charles Wyplosz Graduate Institute of International Studies, Geneva and CEPR ICMB INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIES CIMB CENTRE INTERNATIONAL DETUDES MONETAIRES ET BANCAIRES International Center for Monetary and Banking Studies (ICMB) The International Center for Monetary and Banking Studies was created in 1973 as an inde- pendent, non-profit foundation. It is associated with Geneva’s Graduate Institute of International Studies. Its aim is to foster exchange of views between the financial sector, cen- tral banks and academics on issues of common interest. -
References--391-406 8/12/04 11:33 AM Page 391
11--References--391-406 8/12/04 11:33 AM Page 391 References Aghion, Philippe, Philippe Bacchetta, and Abhijit Banerjee. 2000. Currency Crises and Mon- etary Policy with Credit Constraints. Harvard University, Cambridge, MA. Photocopy. Aghion, Philippe, Philippe Bacchetta, and Abhijit Banerjee. 2001. A Corporate Balance Sheet Approach to Currency Crises. Photocopy. www.hec.unil.ch/deep/textes/01.14.pdf. Alesina, Alberto, and Guido Tabellini. 1990. A Positive Theory of Fiscal Deficits and Gov- ernment Debt. Review of Economic Studies 57: 403–14. Allen, Franklin, and Douglas Gale. 2000a. Optimal Currency Crises. New York University. Photocopy (April). www.econ.nyu.edu/user/galed/occ.pdf. Allen, Franklin, and Douglas Gale. 2000b. Comparing Financial Systems. Cambridge, MA: MIT Press. Allen, Mark, Christoph Rosenberg, Christian Keller, Brad Setser, and Nouriel Roubini. 2002. A Balance Sheet Approach to Financial Crisis. IMF Working Paper 02/210 (December). Washington: International Monetary Fund. www.imf.org/external/pubs/ft/wp/2002/ wp02210.pdf. Arbelaez, Maria Angelica, María Lucía Guerra, and Nouriel Roubini. Forthcoming. Debt Dy- namics and Debt Sustainability in Colombia. In Fiscal Reform in Colombia, ed. J. Poterba. Cambridge, MA: MIT Press. Banque de France. 2003. Toward a Code of Good Conduct on Sovereign Debt Renegotiation. Issues paper prepared by Banque de France staff. Paris: Banque de France. Bartholomew, Ed, Ernest Stern, and Angela Liuzzi. 2002. Two-Step Sovereign Debt Restruc- turing. New York: JP Morgan Chase and Co. www.emta.org/keyper/barthol.pdf. Becker, T., A. S. Richards, and T. Thaicharoen. 2003. Bond Restructuring and Moral Hazard: Are CACs Costly? Journal of International Economics 61: 127–61. -
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HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2015 AND 2014 ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT HYUNDAI MOTOR COMPANY Contents INDEPENDENT ACCOUNTANTS’ REVIEW REPORT ---------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------ 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME --------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------- 12 INDEPENDENT ACCOUNTANTS’ REVIEW REPORT English Translation of Independent Accountants’ Review Report Originally Issued in Korean on May 15, 2015 To the Shareholders and the Board of Directors of Hyundai Motor Company: We have reviewed the accompanying consolidated financial statements of Hyundai Motor Company (the “Company”) and its subsidiaries. The consolidated financial statements consist of the consolidated statement of financial position as of March 31, 2015, the related consolidated statements of income, comprehensive income, changes in equity and cash flows for the three months ended March 31, 2015 and 2014, respectively, all expressed in Korean Won, and a summary of significant accounting policies -
Submission No 21
Submission No 21 Inquiry into Australia’s Relations with the Republic of Korea; and Developments on the Korean Peninsula Organisation: Department of Foreign Affairs and Trade Contact Person: Lydia Morton First Assistant Secretary North Asia Division Address: R G Casey Building Barton ACT 0221 Joint Standing Committee on Foreign Affairs, Defence and Trade Foreign Affairs Sub-Committee 2 June 2005 Dr Margot Kerley The Secretary Joint Standing Committee on Foreign Affairs, Defence and Trade Department of the House of Representatives Parliament House CANBERRA ACT 2600 Dear Dr Kerley Thank you for the invitation to provide a submission to the Joint Standing Committee on Foreign Affairs, Defence and Trade on Australia's relations with Korea. Please find attached the department's submission which addresses directly the Committee's terms of reference on economic, political and strategic aspects of the relationship. Our submission highlights Korea’s importance as our fourth-largest trading partner, identifying increasing opportunities for trade and cooperation arising from dynamic political, social and economic changes. In addition, it discusses the potential impacts on Australian interests of the strategic situation on the Korean peninsula Yours sincerely Lydia Morton First Assistant Secretary North Asia Division R G Casey Building, Barton ACT 0221 www.dfat.gov.au Telephone: 02-62611111 Inquiry by the Joint Standing Committee on Foreign Affairs, Defence and Trade on Australia's Relationship with the Republic of Korea and Developments on the Korean Peninsula Submission by the Department of Foreign Affairs and Trade MAY 2005 CONTENTS 1. Introduction. 5 2. Political Developments and Outlook . .6 (a) Domestic Politics in Transition (b) International Political Outlook (c) Bilateral Political Relationship (d) People-to-People Links 3. -
The Korean Financial Crisis of 1997: Onset, Turnaround, and Thereafter, Which I Originally Authored in Korean in 2006
The Korean Financial Crisis of 1997 Onset, Turnaround, and Thereafter Public Disclosure Authorized Kyu-Sung LEE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized The Korean Financial Crisis of 1997 The Korean Financial Crisis of 1997 ONSET, TURNAROUND, AND THEREAFTER Kyu-Sung LEE © 2011 The International Bank for Reconstruction and Development / The World Bank and the Korea Development Institute 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved 1 2 3 4 14 13 12 11 The findings, interpretations, and conclusions herein are those of the author and do not reflect the views of the World Bank, its Board of Executive Directors or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorse- ment or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. -
The Divergent International Response to China's Xinjiang's Policy
The Divergent International Response to China’s Xinjiang Policy Dorothy Settles HIST 402C: International Relations from the Asian Perspective Dr. Timothy Brook April 12, 2020 1 Introduction In response to ethnic and religious unrest in China’s northwestern province of Xinjiang, the Chinese Communist Party has engaged in a colossal crackdown on the local Uyghur Muslim population. In recent years, an estimated one million Uyghurs have been detained in re-education centers, which have been likened to concentration camps, while religious and cultural freedom has been forcibly suppressed1. This has generated a slew of strong yet divergent international reactions, ranging from outright support to passive silence to scathing condemnation. On July 8, 2019, a group of 22 predominantly Western countries issued a letter to the United Nations Human Rights Council condemning China for their oppression of the Uyghurs. Days later, 37 developing countries, many of which are Muslim-majority, came together and wrote a different letter to the UNHRC, “commend[ing] China’s remarkable achievements in the field of human rights,”2 in reference to their policies in Xinjiang. While it is initially shocking to see so many (especially Muslim) countries coming to China’s defense, it cannot be divorced from China’s burgeoning global influence. This paper analyzes the international response to China’s oppression of the Uyghurs, in order to understand the shifting face of the emerging Sino-centric world order. I argue that the emerging Sino-centric world order is becoming increasingly characterized by the dissolution of traditional transnational religious and cultural bonds and the emboldening of regimes that emphasize sovereignty over human rights. -
RBA Annual Report 2000
INTERNATIONAL FINANCIAL CO-OPERATION international financial and Canada); and the IMF/World Bank, with co-operation around 180 members. The former was too The three years since the Asian crisis began narrow to carry out the necessary consultation have seen a substantial push within the and co-ordination among countries, while the international community for reform of the latter was too large to allow decisive actions to international financial system. The problems in deal with emerging problems. Asia (and in Eastern Europe and Latin America The initial response of the international as well) not only damaged the growth perform- community was to set up the G22, an ad hoc ance of the countries directly affected, but had group of 22 countries including those affected repercussions on major financial markets, and by the crisis. This group was able to make quick brought a recognition on the part of the progress on a number of issues, but the feeling international financial community that was that its membership was not balanced, changes should occur in the so-called inter- with some claiming that Asian countries (which national financial architecture. The RBA made up 10 of the 22) were over-represented. believed that it should contribute as strongly In the event, that group has been replaced as possible to this work, given the potential for by two new international groupings, which major changes to the shape of international seem to have a greater degree of permanance financial markets to emerge from the process. than the G22. The two groupings are the Financial As a result, the RBA increased significantly the Stability Forum and the G20. -
Korea Chaebols
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by K-Developedia(KDI School) Repository Emerging Market Spotlight November 2010 The Chaebols in South Korea: Spearheading Economic Growth South Korea has witnessed an incredible transformation in the Fast Facts three decades spanning from the Chaebols are large multinational family-controlled 1960s to 1990s, evolving from an conglomerates in South Korea, which have enjoyed strong impoverished country to a governmental support. developed high-income economy today. Often referred to as the The word Chaebol literally means “business association”. “Miracle of the Han River”, this President Park Chung Hee (1961-1979) widely propagated remarkable turnaround was and publicized the chaebol model of state-corporate achieved through an aggressive, alliance. outward-oriented strategy, focusing on developing large-scale The Chaebols have invested heavily in the export-oriented industrial conglomerates or manufacturing sector. chaebols. Some well-recognized South Korean conglomerates boasting global brand names are Samsung, Hyundai and Today, the chaebols have become LG. multinational powerhouses with a global footprint. And with this, The chaebol model of state-corporate alliance is based on South Korea boasts of an economy the Japanese Zaibatsu system, which encouraged economic that ranks 15th globally in nominal development through large business conglomerates from 1968 until the end of the World War II. terms and 13th in terms of Purchasing Power Parity (PPP). Paradigm shift in the South Korean economy The first half of the 20th century was a tumultuous, war-ravaged period for the country, punctuated by a 35-year Japanese colonization of the country, which ended with Japan’s defeat in World War II. -
DPRK Business Monthly Volume 1, No
DPRK Business Monthly Volume 1, No. 3, April 2010 As a rich man is likely to be a better customer to the industrious people in his neighbourhood than a poor, so is likewise a rich nation. [Trade embargoes] by aiming at the impoverishment of our neighbours, tend to render that very commerce insignificant and contemptible. Adam Smith, Wealth Of Nations International Russian Firm to Connect Rajin with Transiberian Line RZDstroy, a subsidiary of the Russian corporation RZD, has signed a contract with Rasonkontrans, a joint venture between RZD and the DPRK Ministry of Railways, to carry out reconstruction of the railway line connecting Hasan with Tumen, Rajin and the port of Rajin. When completed, the railway line will connect Rajin Port with the Transiberian Railway, and give it access to Western European ports and other destinations. According to the agreement, RZDstroy will prepare the roadbed and lay superstructure on the section between Unchan and Kwangok (15.7 km) and at two stations of this section, erect facilities on all sections, including 14 bridges, and arrange communication systems. Two construction teams from RZDstroy and Korean builders will participate in the work. Rasonkontrans was created with the participation of RZD Trading House (It owns 70% of the company’s capital) in 2008. It is registered in North Korea, in the Rason Special Economic Zone, for 49 years. According to the agreement, the Russian side will make the investment, and the North Korean side will keep the property rights for the port (the 3rd berth and the adjacent territory). The joint venture will oversee the railway reconstruction, the construction of a container terminal at the port of Rajin with a potential capacity of up to 400,000 containers of a 20-foot equivalent (TEU) per year, as well as the further maintenance of this infrastructure.