The value of the Korean won (KRW) to the US dollar (USD) recently fell to its weakest level since 2009, and its real effective exchange rate (REER) was even lower. The KRW to USD rate exceeded 1,400 won per dollar due to the tight monetary policy of major economies, the Russian invasion of...

Korea and China established formal relations 30 years ago. Vibrant bilateral trade has significantly contributed to the economic growth of both nations. However, a remarkable turning point has occurred recently: Bilateral trade seemed to balance out due to China’s lockdown policy and Korea’s...

The satellite communications industry is in the midst of a paradigm shift, as the cost of building infrastructure for low-Earth orbit (LEO) satellites, which had previously served as a barrier to entry in the satellite communications services market, is falling. Such satellites provide...

The US and EU have reached consensus on one strategic objective: reducing their reliance on Northeast Asia for semiconductor manufacturing built up over the past 30 years. Since the 1950s, the global semiconductor industry has experienced continued structural transition and extensive...

Since the end of WWII, the United States was the leading force globally for free trade. Since the early 1980s, it was also the leading force for laissezfaire economics, promoting the “Washington Consensus” of limited government and free markets, both at home and abroad. That era has...

Secondary batteries are garnering more and more attention as a key to carbon reduction and eventually, carbon neutrality. Formerly associated mostly with IT devices such as laptop computers and mobile phones, secondary batteries are now enjoying renewed interest and rising demand as they are...

Since roughly 2015, the world has been witnessing the dawn of the age of “NewSpace,” with space now being explored by a new set of parties for a set of purposes distinct from those of the past. NewSpace is commonly used to refer to the private sector’s growing leadership in space...

Digital transformation exerts diverse impacts on the value chains of existing industries. Specific impacts depend on how given technologies are used. Along with the attributes of the respective industries to which small and medium-sized enterprises (SMEs) belong, the effects of digital...

Up until the beginning of 2020, expectations for a global economic recovery were high due to advances in the fourth industrial revolution (4IR) based on artificial intelligence (AI), data, and the Internet of Things (IoT), the commercialization of 5G worldwide, and large-scale sports events....

The purpose of this report is twofold. First, to describe the digitalization of modern manufacturing and U.S. businesses' adoption of digital technologies and identify the implications for policy carried by these trends. And second, to provide recommendations for competition policy in Korea...