This unique work examines the highly topical national and international legal issues of economic cooperation between North and South Korea under the current divided situation. In recent years, the relationship between the two Koreas has been generating more concern than in earlier times. This new interest has been followed by two epoch-making developments over the past decade: the conclusion of the Basic Agreement of 1991 and the Declaration of the North-South Summit of 2000. These events have caused remarkable changes in political, as well as economic, relations between the north and the south. This book reviews the current legal regime and the setting up of a positive legal framework for inter-Korean economic cooperation, beginning to be regulated by international law. This research provides two ultimate outcomes. One is to resolve the legal problems for transnational economic cooperation relating to North and South Korea; the other is to develop a juridical model of south-north cooperation as a new world economic framework for the 21st century. Three interrelated areas are involved in this work. The first part describes the external environmental factors regarding inter-Korean economic cooperation from an international legal perspective. The second part deals with the legal framework of inter-Korean economic cooperation, examining concrete issues arising from practical economic exchanges and cooperation between the two Koreas. The last part discusses the legal foundations for inter-Korean economic integration beyond economic cooperation. This book clarifies the significance of the legal environment as an indispensable servant for the parts of a divided country to recover their relationship, offering both a normative and practical framework.
Launched in 1991, the Asian Yearbook of International Law is a major internationally-refereed yearbook dedicated to international legal issues as seen primarily from an Asian perspective. It is published under the auspices of the Foundation for the Development of International Law in Asia (DILA) in collaboration with DILA-Korea, the Secretariat of DILA, in South Korea. When it was launched, the Yearbook was the first publication of its kind, edited by a team of leading international law scholars from across Asia. It provides a forum for the publication of articles in the field of international law and other Asian international legal topics. The objectives of the Yearbook are two-fold: First, to promote research, study and writing in the field of international law in Asia; and second, to provide an intellectual platform for the discussion and dissemination of Asian views and practices on contemporary international legal issues. Each volume of the Yearbook contains articles and shorter notes; a section on Asian state practice; an overview of the Asian states’ participation in multilateral treaties and succinct analysis of recent international legal developments in Asia; a bibliography that provides information on books, articles, notes, and other materials dealing with international law in Asia; as well as book reviews. This publication is important for anyone working on international law and in Asian studies. The 2017 edition of the Yearbook is a special volume that has articles highlighting current international legal issues facing particular Asian states.
The aim of this project is to research the necessity of international cooperation on Korean unification in legal terms as South Korea’s Unification Policy and how issues of the Korean Peninsula have been dealt with in the international framework. Since this is the second year of a five-year project, the conceptual aspect requires clarification in the overall aspect and this requires a multidisciplinary approach. But the main focus remains the legal aspect, international law, in particular. This study assumes that unification will be a gradual process, generally in three stages: (1) inter-Korean cooperation, (2) negotiation for inter-Korean unification (be it North Korea’s collapse, or actual inter-Korean negotiation for unification, this stage includes any inter-Korean negotiation for unification and international negotiation formula, such as Six Party Talks, etc.), and (3) post-unification integration. The study begins with the understanding that South Korea needs to be prepared for legal matters potentially arising in these processes. The project this year, in particular, deals with the legal issues that should be dealt with in the first and second stages. The scope of the papers in this project covers four main areas. The first is time span. The research for this project covers the 19th century to the present and draws future-oriented implications, but the main focus is on current issues. The second is in regard to approaches. The study deals with three main approaches: historical, political, and legal, but for purposes of this project, the main focus is on the legal aspect. The third concerns the issues addressed. These are the nuclear issue, the military issue, inter-Korean cooperation issues, and the human rights issue. Finally, the scope of actors considered includes South and North Korea, neighboring countries (the U.S., China, Japan, and Russia), and international organizations (e.g., UN, WFP, WHO, etc.). The papers included here are organized into three main sections. The first concerns the meaning of Korean unification and the context of international cooperation. Park Jong-Chul provides a general overview of the Park Geun-Hye administration’s North Korea and unification policy, referred to as “Trustpolitik,” and the trust-building process on the Korean Peninsula, as well as the need for international cooperation. Sue Mi Terry examines the U.S. and China’s perspective on the issues laid out above. She explores areas where U.S.-China interests converge and diverge and whether strategic cooperation and coordination between the two nations are possible in the case of Korean unification. The second section presents historical and legal perspectives related to the situation on the Korean peninsula. Charles K. Armstrong’s work on the historical perspective is divided into three sections chronologically: (1) the struggle of 19th Century Korea to become a modern sovereign state and its failure with the advent of colonial rule, (2) war leading to the division of the Korean Peninsula, and (3) the inter-Korean situation based on de facto recognition (as opposed to de jure) as a political entity arising out of the 1972 Joint Communiqué and the “special relationship” from then on. Next, Roh Jeong-Ho provides a legal approach to the question of inter-Korean relations and the debate on unification by dividing the period from 1876 to the present day into five distinct periods and examining the limitations to the legal order and the evolution of world order as they pertain to Korea. Finally, Leon V. Sigal discusses how international law and institutions might improve South Korean security and facilitate inter-Korean reconciliation with special attention to confidence-building in the West Sea. The third section examines in greater detail the legal aspects of Inter-Korean Cooperation and human rights. Regarding human rights, it is important to consider the link between inter-Korean cooperation and human rights. The improvement of human rights and people’s livelihood in North Korea, which is part of the ultimate goal of unification, can be achieved by inter-Korean cooperation. Inter-Korean cooperation leads to inducing change in North Korea, which then logically leads to the improvement of human rights in North Korea. Lee Hyo-Won focuses on the legal matters regarding the establishment of a DMZ World Peace Park. Soung Jea-Hyen looks at the legal matters regarding the internationalization of the Gaeseong Industrial Complex. Cho Jung-Hyun provides an analysis of the contents and legal implications of the recent outcome of the UN Commission of Inquiry (COI) on Human Rights in the DPRK, such as the meaning of stating “crimes against humanity,” the notion of Responsibility to Protect (R2P) in respect to North Korea, and transitional justice in the possible post-unification stage. Finally, David Hawk tracks North Korean human rights developments in the post-COI period. Preface/ Jong-Chul Park and Jeong-Ho Roh I. The Meaning of Korean Unification in the Context of International Cooperation South Korea’s TrustPolitik and International Cooperation.....1 South Korea’s TrustPolitik and International Cooperation/ Jong-Chul Park.....3 U.S.-China Rivalry and the Unification of the Korean Peninsula/ Sue Mi Terry.....31 II. The Situation on the Korean Peninsula: Historical and Legal Perspectives .....59 An Unfinished Project: Challenges and Struggles of Korea to Become a Modern Sovereign Nation-State/ Charles K. Armstrong.....61 The Limits of Legal Order in an Evolving World Order on the Korean Peninsula/ Jeong-Ho Roh.....89 Legal Approaches to Korean Security in the Early Stages of Unification: The Armistice Agreement and the NLL/ Leon V. Sigal.....119 III. Legal Aspects of Inter-Korean Cooperation and Human Rights.....145 Legal Perspective and International Cooperation on World Peace Park in DMZ between South and North Korea / Hyo-Won Lee.....147 Plan for the Internationalization of the Kaesong Industrial Region and the Resolution of Its Commercial Disputes/ Jea-Hyen Soung.....169 The Report of the UN Commission of Inquiry (COI) on North Korean Human Rights: Some International Legal Analyses/ Jung-Hyun Cho.....195 North Korea’s Response to the UN Commission of Inquiry (COI) Report on the Situation of Human Rights in the Democratic People’s Republic of Korea/ David Hawk.....213 Contributors.....251
We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable geopolitical swings that originate from North Korea. To do so, a monthly index of geopolitical risk from North Korea (the GPRNK index) is constructed using automated keyword searches in South Korean media. The GPRNK index, designed to capture both upside and downside risk, corroborates that geopolitical risk sharply increases with the occurrence of nuclear tests, missile launches, or military confrontations, and decreases significantly around the times of summit meetings or multilateral talks. Using firm-level data, we find that heightened geopolitical risk reduces stock returns, and that the reductions in stock returns are greater especially for large firms, firms with a higher share of domestic investors, and for firms with a higher ratio of fixed assets to total assets. These results suggest that international portfolio diversification and investment irreversibility are important channels through which geopolitical risk affects stock returns.
The Korean Peninsula was and is in a state of flux.More than 60 years after the war that left the country divided, the policies and unpredictability of the North Korean regime, in conjunction with the U.S. alliance with South Korea and the involvement of China in the area, leave the situation there one of the most capricious on the globe. Confronting Security Challenges on the Korean Peninsula presents the opinions from experts on the subject matter from the policy, military, and academic communities. Drawn from talks at a conference in September 2010 at Marine Corps University, the papers explore the enduring security challenges, the state of existing political and military relationships, the economic implications of unification, and the human rights concerns within North and South Korea. They also reiterate the importance for the broader East Asia region of peaceful resolution of the Korean issues.
Among the many facets noted since the launch of the Moon Jae-in Administration‚ presidential speeches have captured considerable public attention and won over hearts. This compilation of selected speeches contains addresses and remarks made by President Moon at official events and major conferences that took place after he took office on May 10‚ 2017‚ up to May 10‚ 2018. During the year following his inauguration‚ President Moon has engaged in vibrant communication with the public on 286 occasions through speeches at major events and remarks at closed meetings as well as open messages. Among these addresses and remarks‚ 33 of particular interest to international media and foreign nationals have been selected‚ translated into English and bound here. The book reflects the President’s commitment to communicating and sharing even more messages with the foreign press and international opinion leaders more actively‚ beyond the language barrier. The achievements of the Moon Jae-in Administration over the past year were made possible thanks to the people’s unwavering support and encouragement‚ which was facilitated by President Moon’s ceaseless efforts to communicate with them. Furthermore‚ the international community's endorsement and interest is also vital to ensure that the President's management of state affairs and diplomatic initiatives reap greater success. I hope that this collection of speeches provides you with a clear understanding of the Moon Jae-in Administration’s first year. I look forward to you grasping hands with the Administration so that its objectives won’t get lost in the remaining four years. Thank you very much. July 2018 Im Jong-seok Chief of Staff to the President
This book delivers an in-depth analysis of the US-DPRK Peace Treaty which will be concluded as a final result of the Korean Peninsula peace process that is currently ongoing. Since North Korea launched its nuclear weapons development program in the early 1990s, the Korean peninsula has become a critical point of global politics along with the Sino-American (G2) hegemonic competition. The US-DPRK Peace Treaty is the key to the denuclearization and de jure peace on the peninsula as well as Northeast Asia. Different from the comprehensive peace treaty between the four parties (US, China, and the two Koreas) already proposed for the past few years, the book suggests a ‘bilateral’ approach to the agreement between the US and the DPRK, which will trigger the peace as a system considering the US’s practices in this regard after 1783. Such a challenging and provocative method provides deeper understanding of the legal and political circumstances for the expected US-DPRK Peace Treaty. The book will navigate scholars, practitioners, and students towards terminating the 1953 Armistice, establishing nuclear peace as well as a rapprochement between the two countries. In practice, it will be a useful guideline for the conflicting parties in the various parts of the globe to adopt peace treaties in the twenty-first century.
