The Donald Trump administration is expected to continue increasing the U.S. defense budget during its term in order to implement one of the president’s campaign pledges: modernizing the U.S. military. Congress has passed a 717 billion USD defense budget with the National Defense Authorization...

Exports of Korean export growth posted steady gains since 2001, but abruptly fell following sharply a slowdown in global trade in 2014, which precipitated two years of sluggish export performance. Concern regarding export competitiveness is growing as major domestic industries have continued to...

The industrial structure is rapidly changing in the digital era. Accordingly, extant industrial policies that were once justified under the previous industrial structure could have a different effect than before if changes in the industrial structure are ignored. Therefore, industrial policies...

The stabilization of exchange rate fluctuations is an important economic policy issue for an open, export-oriented country such as South Korea. The 1997 foreign exchange crisis and the 2008 global financial crisis put the Korean foreign exchange market in great turmoil, and the instability of...

The recent slowdown of several of Korea’s major industries is raising fears of an economic slump, especially in related businesses or regions that rely heavily on such sectors. The interdependence of economic activities formed through production or capital investments means that the impact of...

As is generally known, the Fourth Industrial Revolution (4IR) can have a great impact on various industries. Revolutionary phenomena are being observed at the early stages where multiple advanced technologies are converging and being combined, ultimately resulting in new high-tech services and...

Trends in global population growth and urban migration have led to a bevy of problems in modern cities, including overpopulation, crime, and pollution. As technologies of the 4th industrial revolution are developed and disseminated, several countries are applying new information and...

The administration of U.S. president Donald Trump has emphasized modern military capability as a top priority, and the U.S. Congress has passed a nearly $700 billion defense appropriations bill in form of the National Defense Authorization Act of FY2018. As a result, investment in the...

The tremendous advances that have been made in information and communication technology have led to a concomitant increase in the production and accumulation of big data in various sectors. And as big data has grown, governments, private enterprise and academia are coming paying it more and more...

Research and Development (R&D) has long been considered a main driver of innovation and economic growth worldwide, and Korea is in the vanguard of that movement. R&D investment here has continuously risen over the course of the last decade: the annual growth rate of R&D investment reached 10.9%...