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Preparing for the Possibility of a North Korean Collapse
CHILDREN AND FAMILIES The RAND Corporation is a nonprofit institution that EDUCATION AND THE ARTS helps improve policy and decisionmaking through ENERGY AND ENVIRONMENT research and analysis. HEALTH AND HEALTH CARE This electronic document was made available from INFRASTRUCTURE AND www.rand.org as a public service of the RAND TRANSPORTATION Corporation. INTERNATIONAL AFFAIRS LAW AND BUSINESS NATIONAL SECURITY Skip all front matter: Jump to Page 16 POPULATION AND AGING PUBLIC SAFETY SCIENCE AND TECHNOLOGY Support RAND Purchase this document TERRORISM AND HOMELAND SECURITY Browse Reports & Bookstore Make a charitable contribution For More Information Visit RAND at www.rand.org Explore the RAND National Security Research Division View document details Limited Electronic Distribution Rights This document and trademark(s) contained herein are protected by law as indicated in a notice appearing later in this work. This electronic representation of RAND intellectual property is provided for non-commercial use only. Unauthorized posting of RAND electronic documents to a non-RAND website is prohibited. RAND electronic documents are protected under copyright law. Permission is required from RAND to reproduce, or reuse in another form, any of our research documents for commercial use. For information on reprint and linking permissions, please see RAND Permissions. This report is part of the RAND Corporation research report series. RAND reports present research findings and objective analysis that address the challenges facing the public and private sectors. All RAND reports undergo rigorous peer review to ensure high standards for re- search quality and objectivity. Preparing for the Possibility of a North Korean Collapse Bruce W. Bennett C O R P O R A T I O N NATIONAL SECURITY RESEARCH DIVISION Preparing for the Possibility of a North Korean Collapse Bruce W. -
Park Statue Politics World War II Comfort Women Memorials in the United States
Park Statue Politics World War II Comfort Women Memorials in the United States THOMAS J. WARD & WILLIAM D. LAY i Park Statue Politics World War II Comfort Women Memorials in the United States THOMAS J. WARD AND WILLIAM D. LAY ii E-International Relations www.E-IR.info Bristol, England 2019 ISBN 978-1-910814-50-5 This book is published under a Creative Commons CC BY-NC 4.0 license. You are free to: • Share — copy and redistribute the material in any medium or format • Adapt — remix, transform, and build upon the material Under the following terms: • Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. • NonCommercial — You may not use the material for commercial purposes. Any of the above conditions can be waived if you get permission. Please contact [email protected] for any such enquiries, including for licensing and translation requests. Other than the terms noted above, there are no restrictions placed on the use and dissemination of this book for student learning materials/scholarly use. Production: Michael Tang Cover Image: Ki Young via Shutterstock A catalogue record for this book is available from the British Library. iii E-IR Open Access Series Editor: Stephen McGlinchey Books Editor: Cameran Clayton Editorial Assistants: Xolisile Ntuli and Shelly Mahajan E-IR Open Access is a series of scholarly books presented in a format that preferences brevity and accessibility while retaining academic conventions. -
[Preliminary Draft for the Jilfa Symposium Paper Workshop]
[PRELIMINARY DRAFT FOR THE JILFA SYMPOSIUM PAPER WORKSHOP] South Korea Shatters the Paradigm: Corporate Liability, Historical Accountability, and the Second World War Timothy Webster* Introduction Repairing the past is a theme for our time. As the United States reviews linkages between racial injustice and slavery, France questions whether to return museum artifacts seized from its former colonies in Africa, Asia, and Polynesia. Even the English, the greatest imperial power, recently apologized and compensated hundreds of Kenyans brutalized during the suppression of the Mau Mau Rebellion. By linking contemporary inequality to historical suppression, victims make a case for compensation in the present moment. The sins of the past do not disappear; they actually compound interest, marginalizing many for decades after the war. Few phenomena wring more destruction than war. One way to imagine the devastation wrought by World War II is to reflect on how far contemporary reparations movements reach. Victims of war crimes and crimes against humanity, ably assisted by civil society organizations, lawyers, and historians, have sought redress in Europe, Asia, and the United States. They have queried lawmakers, beseeched executive officials, and filed hundreds of lawsuits. 1 In many instances in the West, these efforts yielded national laws, compensation mechanisms, charitable foundations, and even claims tribunals. East Asia, despite what you’ve heard, prefers litigation. The Supreme Court of South Korea (SCSK) wrote the latest chapter in this -
Forecasting the US Dollar-Korean Won Exchange Rate: a Factor-Augmented Model Approach
Auburn University Department of Economics Working Paper Series Forecasting the US Dollar‐Korean Won Exchange Rate: A Factor‐Augmented Model Approach Sarthak Behera*, Hyeongwoo Kim*, and Soohyon Kim† * † Auburn University, Bank of Korea A UWP 2020‐02 This paper can be downloaded without charge from: http://cla.auburn.edu/econwp/ http://econpapers.repec.org/paper/abnwpaper/ Forecasting the US Dollar-Korean Won Exchange Rate: A Factor-Augmented Model Approach Sarthak Beheray, Hyeongwoo Kimz, and Soohyun Kimx Auburn University and Bank of Korea May 2020 Abstract We propose factor-augmented out of sample forecasting models for the real exchange rate between Korea and the US. We estimate latent common factors by applying an array of data dimensionality reduction methods to a large panel of monthly frequency time series data. We augment benchmark forecasting models with common factor estimates to formulate out-of-sample forecasts of the real exchange rate. Major findings are as follows. First, our factor mod- els outperform conventional forecasting models when combined with factors from the US macroeconomic predictors. Korean factor models perform overall poorly. Second, our factor models perform well at longer horizons when Amer- ican real activity factors are employed, whereas American nominal/financial market factors help improve short-run prediction accuracy. Third, models with global PLS factors from UIP fundamentals overall perform well, while PPP and RIRP factors play a limited role in forecasting. Keywords: Won/Dollar Real Exchange Rate; Principal Component Analysis; Partial Least Squares; LASSO; Out-of-Sample Forecast JEL Classification: C38; C53; C55; F31; G17 We thank seminar participants at the Bank of Korea for useful comments. -
The Sharp Fall of the South Korean Won in 2008: the Background and Prospects
Mizuho Economic Outlook & Analysis February 13, 2009 The Sharp Fall of the South Korean Won in 2008: the background and prospects Hirokazu Hiratsuka, Senior Economist, Research Department - Asia This publication is compiled solely for the purpose of providing readers with information and is in no way meant to encourage readers to buy or sell financial instruments. Although this publication is compiled on the basis of sources which Mizuho Research Institute (MHRI) believes to be reliable and correct, MHRI does not warrant its accuracy and certainty. Readers are requested to exercise their own judgment in the use of this publication. Please also note that the contents of this publication may be subject to change without prior notice. 1 1. The sharp fall of the South Korean Won in 2008 In 2008 amid the worsening global financial crisis, most Asian currencies plunged, along with those of the emerging nations. The South Korean won, however, stood out, losing as much as 37.8% at one point during the year. Looking back at the trends in the won-dollar exchange rate for the past several years (Chart 1), the won appreciated from the fall of 2004 until 2007, almost reaching the 900-KRW/USD level in November 2007; but the trend reversed after that, slipping to the KRW1,000 mark again in March 2008, for the first time in 2 years and 2 months. Initially, the South Korean government tolerated this as a necessary correction1; but as the won’s plunge accelerated, the government changed its stance to halt the currency’s further weakening. -
The Rise of China and Its Effect on Taiwan, Japan, and South Korea: U.S
Order Code RL32882 CRS Report for Congress Received through the CRS Web The Rise of China and Its Effect on Taiwan, Japan, and South Korea: U.S. Policy Choices Updated January 13, 2006 Dick K. Nanto Specialist in Industry and Trade Foreign Affairs, Defense, and Trade Division Emma Chanlett-Avery Analyst in Asian Political Economy Foreign Affairs, Defense, and Trade Division Congressional Research Service ˜ The Library of Congress The Rise of China and Its Effects on Taiwan, Japan, and South Korea: U.S. Policy Choices Summary The economic rise of China and the growing network of trade and investment relations in northeast Asia are causing major changes in human, economic, political, and military interaction among countries in the region. This is affecting U.S. relations with China, China’s relations with its neighbors, the calculus for war across the Taiwan Straits, and the basic interests and policies of China, Japan, Taiwan, and South Korea. These, in turn, affect U.S. strategy in Asia. China, for example, has embarked on a “smile strategy” in which it is attempting to coopt the interests of neighboring countries through trade and investment while putting forth a less threatening military face (to everyone but Taiwan). Under the rubric of the Six-Party Talks, the United States, China, Japan, Russia, and South Korea are cooperating to resolve the North Korean nuclear crisis. Taiwanese businesses have invested an estimated $70 to $100 billion in factories in coastal China. China relies on foreign invested enterprises for about half its imports and exports. For Taiwan, Japan, and South Korea, China has displaced the United States as their major trading partner. -
South Korea Market Watch
JANUARY 2017 MARKETWATCH Information from Cartus on Relocation and International Assignment Trends and Practices. EMERGING MARKETS: SOUTH KOREA This issue of Market Watch discusses the The Republic of Korea in Brief specific topics associated with working and • Capital: Seoul living in the Republic of Korea—better known as • Other Significant Cities: Busan, Daegu South Korea. Among these topics are housing, • Official Language: Korean schooling, transportation, medical services, • Government: Constitutional republic with unitary president security, shopping, language and cultural issues. • Population: 50,219,669 • Major Industrial Products: Semiconductors, automobiles, ships, Traditionally, South Korea has not been a frequent assignment consumer electronics, mobile telecommunications, equipment, destination but its popularity has increased in the last few years. steel, and chemicals. Although a language barrier can exist, many international assignees • Currency: South Korean won (W) (KRW) have found Korean people to be open, warm, and friendly. • Time Zone: Korea Standard Time (UTC+9) Expats to South Korea find a country with an elevated standard of living at a reasonable price level. The cities are modern, with HOUSING services and support for expats improving over the last 10 years. Most assignees to South Korea are surprised and pleased by the Some costs, such as food and housing, may prove more expensive quality, selection, and availability of housing in the country. Housing than an assignee’s home country, but these expenses can be offset is readily available both in the capital, Seoul, and throughout the by lower transportation costs. country. Not surprisingly, the larger Korean cities offer more housing selection than the smaller cities and rural areas. -
Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to THE
Samsung Electronics Co., Ltd. and its Subsidiaries NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. The CE division includes digital TVs, monitors, air conditioners and refrigerators, and the IM division includes mobile phones, communication systems and computers. The DS division includes products such as Memory, Foundry and System LSI in the semiconductor business (“Semiconductor”), and LCD and OLED panels in the display business (“DP”). The Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and the address of its registered office is Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110 Consolidated Financial Statements. SEC, as the controlling company, consolidates its 252 subsidiaries including Samsung Display and Samsung Electronics America (refer to Note 1.2). The Company also applies the equity method of accounting for its 44 associates and joint ventures, -
K-IFRS Independent Auditor's Report Opinion 2017
CONSOLIDATED FINANCIAL STATEMENTS OF SAMSUNG ELECTRONICS CO., LTD. AND ITS SUBSIDIARIES INDEX TO FINANCIAL STATEMENTS Page Independent Auditors’ Report 1-5 Consolidated Financial Statements Consolidated Statements of Financial Position 6-8 Consolidated Statements of Profit or Loss 9 Consolidated Statements of Comprehensive Income 10 Consolidated Statements of Changes in Equity 11-14 Consolidated Statements of Cash Flows 15-16 Notes to the Consolidated Financial Statements 17 Deloitte Anjin LLC 9F., One IFC, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul 07326, Korea Tel: +82 (2) 6676 1000 Fax: +82 (2) 6674 2114 www.deloitteanjin.co.kr Independent Auditors’ Report [English Translation of Independent Auditors’ Report Originally Issued in Korean on February 17, 2021] To the Shareholders and the Board of Directors of Samsung Electronics Co., Ltd. Audit Opinion We have audited the consolidated financial statements of Samsung Electronics Co., Ltd. and its subsidiaries (the “Company”), which comprise the consolidated statement of financial position as of December 31, 2020, and the consolidated statement of profit or loss, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows, for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020, and its financial performance and its cash flows for the year then ended in accordance with Korean International Financial Reporting Standards (“K-IFRS”). Basis for Audit Opinion We conducted our audit in accordance with the Korean Standards on Auditing (“KSAs”). -
Currency “Reform” in North Korea by James M
Currency “Reform” in North Korea by James M. Lister ([email protected]) “It’s the economy, stupid!” (attributed to James Carville, 1992 presidential campaign) Free elections are not part of North Korea’s political fabric, but Kim Jong-Il and his advisors are undoubtedly aware that the regime’s legitimacy will be challenged if it fails to meet its promise of achieving a strong and prosperous nation by 2012, particularly if it faces a leadership transition. The November 30 announcement of currency reform, entailing redenomination of the North Korean won such that 100 old won = 1 new won, appears to be a gamble that it can achieve that objective in an ideologically acceptable manner. It is a huge bet. As clarified and adjusted over the course of the subsequent weeks (according to press reports, as official announcements remain lacking) the measures required residents to exchange old won for new won currency up to a limit of 500,000 old won per individual—equivalent to $200 or less at unofficial market rates. Amounts in excess of the limit could be exchanged if deposited in a bank account, although amounts in excess of 1,000,000 old won could be so deposited only if a legitimate means of accumulation was shown. Some reports indicated that a subsidized exchange rate of 10 old won for 1 new won was available for small amounts deposited in a bank rather than exchanged for new currency. The subsequent move to ban possession of foreign currency appears to be aimed at reinforcing the currency reform, or at least at dealing with the perception that the elite and the more successful traders were able to escape the financial losses that smaller traders suffered. -
NKU Academic Exchange in Ulsan, South Korea
NKU Academic Exchange in Ulsan, South Korea https://www.cia.gov Spend a semester or academic year studying at The University of Ulsan A brief introduction… Office of Education Abroad (859) 572-6908 NKU Academic Exchanges The Office of Education Abroad offers academic exchanges as a study abroad option for independent and mature NKU students interested in a semester or year-long immersion experience in another country. The information in this packet is meant to provide an overview of the experience available through an academic exchange in Ulsan, South Korea. However, please keep in mind that this information, especially those regarding visa requirements, is subject to change. It is the responsibility of each NKU student participating in an exchange to take the initiative in the pre-departure process with regards to visa application, application to the Exchange University, air travel arrangements, housing arrangements, and pre-approval of courses. Before and after departure for an academic exchange, the Office of Education Abroad will remain a resource and guide for participating exchange students. South Korea South Korea is a country swathed in green and the Koreans are a people passionate about nature. Spread over the national parks, peaks and valleys, and hot springs are numerous cultural relics and temples that serve to remind visitors of Korea’s long history. Still, the country’s dedication to keeping up with contemporary times is evident in cutting- edge technologies and the worldwide success of companies such as Samsung, LG and Hyundai. Korea has two distinct seasons, with a wet, hot, monsoon summer and a very cold winter. -
The Comfort Women Case Reconsidered: I B Making Citizens Responsible for Historical Injustices
EAI Issue Briefing No. MASI 2010-04 ssue riefing The Comfort Women Case Reconsidered: I B Making Citizens Responsible for Historical Injustices July 14, 2010 Jun-Hyeok Kwak The Comfort Women Case in Northeast Asia again. By recognizing the gravity of the injustices per- petrated in the past and the difficulty of healing the The year 2010 marks the eighteenth anniversary of the wounds, we can share the idea that we must try to do first Wednesday Demonstration in Seoul. Over nine our best not to become either perpetrators or victims hundred times, former “comfort women” and other of the same kinds of crimes. Korean citizens have assembled in front of the Japa- However, the “comfort women” issue, in the con- nese Embassy in Seoul to demand a sincere and offi- text of inherited responsibility, remains stuck in the cial apology from the Japanese government. The door middle of contentions that have no viable solution. of the embassy, however, has remained firmly closed to The Japanese government, which in this situation is the voices of the surviving victims and the citizen-led the agent responsible for the wartime atrocities, tends protests. The Korean government similarly disregards either to deny the rationale for any collective responsi- the protesters’ demands, citing the importance of bility or to limit the extent of such responsibility in maintaining a peaceful diplomatic relationship with terms of compensatory measures, either financial or Japan. A phrase used on the website of the Korean nonfinancial. In contrast, South Korean victims and Council for the Women Drafted for Military Sexual protesters, who have demanded from Japan an official Slavery by Japan (Korean Council hereafter) succinctly apology and the acknowledgment of historical wrong- expresses the feelings of the survivors: “Our tears have doings, have been too unilateral or nationalistic to not dried up yet.” shape a nonethnocentric deliberation for “thick” re- In this respect, the idea that responsibility for his- conciliation with Japan.