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Sat, December 9, 2023 | 08:06
Do market rallies signal no war in Korea?
SINGAPORE - “The more North Korea conducts nuclear and missile tests, the better” for the market. This is the equation applied by the S. Rajaratnam School of International Studies (RSIS) at Nanyang Technological University in Singapore to describe how Korean and other East Asian exchanges are reacting to North Korea’s saber-rattling. Ironically, the KOSPI, South Korea’s benchmark stock index, has been soaring over the past month, in tandem with rising tension on the Korean Peninsula caused by Pyongyang’s ballistic missile and nuclear provocations.
Step-by-step approach needed to resolve North Korea crisis
The United States and its allies should take a step-by-step approach to find a breakthrough for North Korea’s nuclear crisis, according to William Brown, adjunct professor at Georgetown University’s School of Foreign Service. He believes North Korea will not return to the negotiation table if the U.S. demands a complete dismantling of its nuclear weapons development programs. He said it is important to keep increasing pressure on North Korea until sanctions make waves through the reclusive country and its economy.
Hard currency should be cut off to North Korea
The best way to force North Korea to change is to cut off hard currency to the reclusive country, says Sean King, senior vice president of Park Strategies. “Our most effective peaceful strategy is to starve Kim’s regime of the hard currency it needs to acquire and maintain its weapons and keep itself afloat,” King said in a recent interview. “Peaceful regime change by all mea...
Trump's words on N. Korea do not reflect US policies
U.S. President Donald Trump is often criticized for his inflammatory rhetoric on North Korea. Many argue his reckless words have complicated the situation and escalated tension on the Korean Peninsula, raising the possibility of Pyongyang making a miscalculation which could lead to a military conflict.
Asian nations seek cooperation against disasters
Korea’s Minister of Government Legislation Kim Oe-sook has called for Asian nations to overhaul legislation systems to better respond to disasters and catastrophes. She said Asian nations need to find ways to enhance cooperation against disasters through legislation to protect the lives and human rights of the people. Her remarks came at the fifth Asian Legislative Experts Sy...
China urged to pressure North Korea for talks
China should increase pressure on North Korea by using its oil leverage to bring the reclusive country back to negotiations, said Joseph DeTrani, a former special envoy for the six-party talks. He stressed that a peaceful resolution for the nuclear crisis is crucial not only for avoiding war on the Korean Peninsula but also for ensuring peace and stability in Northeast Asia w...
Diplomacy key to resolving North Korea crisis
Diplomacy is the only way to achieve a peaceful resolution of the North Korea nuclear crisis, according to Kelsey Davenport, director for nonproliferation policy at the Arms Control Association. She said that in order to bring North Korea back to negotiations, U.S. President Donald Trump and his administration should send a sincere, consistent message that the offer of engage...
How Switzerland excels in competitiveness
South Korea’s global competitiveness is gradually waning. Although its global ranking has remained unchanged over the past few years, it is probable that it will further head south in coming years, given that the government is highly inwardly focused and its labor and corporate policies allow state intervention.
Korea needs 'single market strategy' in ASEAN
SINGAPORE - Korean companies should develop a “single market strategy” in the ASEAN market as the Southeast Asian bloc’s latest accord to enhance transport cooperation is expected to speed up integration of the region, according to ASEAN experts. They said Korean players should act swiftly because once ASEAN becomes more integrated, they will need new production models and ma...
Seoul urged to open up financial market
Korea must create a level playing field for foreign financial companies to achieve its renewed attempt to make Seoul a financial center in Asia, according to analysts. They stressed that Korea’s financial system needs a major overhaul to improve the competitiveness of its market and banks. Korean financial firms, including banks and securities companies, still remain inwardly focused and lack scale beyond the country, while global financial firms are leaving due to the unfriendly regulatory and business environment.