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제 23 호 APEC vs. IPEF: Shift from Asia-Pacific Strategy to Indo-Pacific Strategy

Kicker: World APEC vs. IPEF: Shift from Asia-Pacific Strategy to Indo-Pacific Strategy by Si-ho Park, Reporter pnshse05@naver.com In line with recent changes in the international situation, the importance of the Asia-Pacific strategy is gradually changing to the Indo-Pacific strategy. This change is based on various political and diplomatic causes, and this is well seen in the shift from APEC to IPEF. Then, let's find out together what the difference between these two economic cooperation organizations is and what the exact cause will be. APEC vs. IPEF: What Are They? The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC's 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative, and secure growth and by accelerating regional economic integration. APEC has 21 members. The word 'economies' describes APEC members because the APEC cooperative process is predominantly concerned with trade and economic issues, with members engaging with one another as economic entities. APEC ensures that goods, services, investments, and people move easily across borders. Members facilitate this trade through faster customs procedures at borders; more favorable business climates behind the border; and aligning regulations and standards across the region. For example, APEC's initiatives to synchronize regulatory systems are key to integrating the Asia-Pacific economy. In such cases, a product can be more easily exported with just one set of common standards across all economies. The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic framework launched by the United States in May 2022, with Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. This framework will advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for our economies. Through this initiative, the IPEF partners aim to contribute to cooperation, stability, prosperity, development, and peace within the region. This framework will offer tangible benefits that fuel economic activity and investment, promote sustainable and inclusive economic growth, and benefit workers and consumers across the region. The 14 IPEF partners represent 40 percent of global GDP and 28 percent of international goods and services trade. The launch began discussions of future negotiations on the following pillars: (1) Trade; (2) Supply Chains; (3) Clean Energy, Decarbonization, and Infrastructure; and (4) Tax and Anti-Corruption. The IPEF is designed to be flexible, meaning that IPEF partners are not required to join all four pillars. APEC vs. IPEF: What Are the Differences? Both APEC and IPEF are designed to promote economic cooperation in the Asia-Pacific region. However, APEC was created in the late 1980s to coordinate competition and conflict over each country's economic interests and to share growth and prosperity through regional economic cooperation, whereas IPEF began in the 2020s with a feeling of the need to maintain the U.S. influence and lead a new economic cooperation system in the Indo-Pacific region while China's economic influence is expanding. Furthermore, with global supply chains unstable due to the COVID-19 pandemic and the war in Ukraine, the IPEF was created based on the need for cooperation to stabilize the regional supply chain. APEC promotes the expansion of trade and investment in the region as a principle of economic cooperation and expands cooperation in trade, investment, technology, infrastructure, and the environment. However, as the IPEF was established more recently, it seeks to lead a new system of economic cooperation. The IPEF's main goal is to establish a comprehensive economic cooperation system for new trade issues that have not been addressed by the existing multilateral trading system, such as stabilizing supply chains, high-tech industries, digital trade, and energy. It also aims to check China's influence in the Indo-Pacific region based on this economic alliance system. From Asia-Pacific Strategy to Indo-Pacific Strategy The global value chain has changed with time. After 1949, an alliance-oriented value chain was pursued to block the Soviet Union. However, after the collapse of the Soviet Union, a global value chain was established based on the logic of efficiency. At that time, the international economy was separated from ideology and political systems, and active investment was made between the United States and China. However, as China's hegemony has recently grown, and has damaged the free market by technology takeover etc., the United States is starting to impose sanctions on this aspect. Thus, the U.S. began to pursue the "trust value chain" to prevent China's influence from expanding further. The United States established the IPEF to form regional alliances, deviating from the Asia-Pacific strategy to counter China's military and economic threats. Through this, the United States seeks to weaken the existing China-led agreement and come up with joint countermeasures with allies and strategic partners. In other words, the IPEF was established following the restructuring of the supply chain in the United States, which is changing from free trade to friend-shoring based on the U.S.-China trade conflict. “Friend-shoring” refers to the practice of shifting trade and supply chain networks towards countries that are geopolitics allies, sharing similar political values, economic policies, and security interests. The U.S. wants to localize strategic supplies in response to COVID-19 and strengthen the supply chain in the U.S. related to infrastructure through the Invest in America Act. Through the IPEF, the U.S. is trying to reorganize its global supply chain and expand its influence. In line with these changes, the U.S.-China trade conflict is intensifying, and the polarization of alliances is becoming more pronounced even within Asia. Here are two questions that would drive your deep thinking. How will the importance of Asia change in the future? How should Korea cope with these changes in the international situation and economic consultative body? For Korea to gain a stronger position amid change, we would have to play a major role in the IPEF, increase its influence in the Indo-Pacific region, and make efforts to become a global hub. Sources: https://www.apec.org/ https://ustr.gov/trade-agreements/agreements-under-negotiation/indo-pacific-economic-framework-prosperity-ipef https://www.linkedin.com/pulse/rise-friend-shoring-new-era-trade-recipe-fragmentation-santosh-g-y4ncc#:~:text=Friend%2Dshoring%20refers%20to%20the,economic%20policies%2C%20and%20security%20interests.

• 작성일 2024-09-09
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제 23 호 2024 Paris Olympics: Is It Eco-friendly?

Kicker: WORLD 2024 Paris Olympics: Is It Eco-friendly? By Su-Young Kim, Editor /kimsuyoung1342@gmail.com The 2024 Paris Olympics were held for about two weeks from July 24 to August 12.Paris Mayor Anne Hidalgo expressed strong confidence in running the eco-friendly Olympics with the keyword "Green Olympics" for the French Olympics. The goal is not to emit more than 1.5 million tons of carbon dioxide, and on average, about 3.5 million tons have been emitted at the Summer Olympics so far. To this end, equestrian events will be held at the Palace of Versailles, beach volleyball matches will be held in front of the Eiffel Tower, and only one new place will be built for the event at the Olympics. 95% of the stadiums were selected using existing facilities or temporary facilities. picture1https://biz.chosun.com/science-chosun/science/2024/07/28/G4WMJ2SSNRHR3I7N4AQ2LEK2YI/ The 2024 Paris Olympics, Paralympics were the first international sporting event to meet the zero-carbon goals set by the International Olympic Committee, showing a strong commitment to halving the carbon footprint and offsetting more than the carbon emitted compared to the 2012 and 2016 Games. According to organizers, about 1.58 million tons of carbon dioxide are expected to be emitted at the 2024 Olympics and Paralympics compared to 2012 when 3.4 million tons were emitted and 2016 when 3.6 million tons were emitted. In addition to numerous sustainable initiatives related to movement, construction, accommodation and dining, voluntary contribution programs will also be in place to offset the inevitable emissions. The program is based on carbon impact measurement tools. All selected programs, including those already in place, will be distributed across the five continents that meet the highest certification criteria. The 2024 Paris Olympics, Paralympics chose to save 95% of its facilities, relying on existing facilities or temporary facilities such as the Grand Palais Épémere in de Mars, where judo and wheelchair rugby are held. This would be a good way to reduce the carbon footprint while making the most of the building assets and heritage by reducing infrastructure construction, and beautiful structures would be the most special stage decoration in Paris. It also aims to provide renewable electricity to all the Olympic venues. Organizers said they prefer wind and solar power over fossil fuels. Energy produced in other regions using a "guarantee of origin" system valid throughout the European Union would be used on days without windy and sunny weather. However, despite these French efforts and plans, questions continue to be raised about whether an eco-friendly Olympics is possible. Paris has built a new 415-kilometer bicycle lane so that you can travel from all corners of the city with only one bicycle, even outside the stadium, and has increased the course and frequency of subway operations to revitalize public transportation. Unfortunately, these preparations emit more carbon dioxide. Therefore, it is said that it is green washing that is not actually for the environment but is engaged in related activities to have an eco-friendly image only on the outside. This is not the first controversy over greenwashing in an international sports competition. After hosting the 2014 Winter Olympics, then-President Putin promised the best eco-friendly Olympics ever, but it was revealed that land and buildings were newly built with a huge budget and waste was illegally reclaimed. In addition, FIFA's 2022 Qatar World Cup used 10,000 liters of water every day for grass management, calling it the first carbon-neutral competition, and an ironic situation occurred in which the environment was destroyed while desalinating to supply such water. In addition to the environmental aspect, the athletes who participated in the competition were also dissatisfied. For eco-friendly preparations, the U.S. men's basketball team boycotted the accommodation of the Paris Olympic Village on a cardboard bed in an air-conditioned room. Instead, it spent about $15 million to rent the entire luxury hotel in the city. Athletes were dissatisfied with the Paris Olympics, which advocates eco-friendly carbon zero. The vegetarian diet on offer was also a complaint for athletes who needed protein such as meat and eggs to do a lot of hard-working exercise. picture2https://www.mk.co.kr/news/world/10954524 I have always thought of the Olympics as a "festival of joyous people around the world," but it puts a lot of pressure on the environment to prepare and hold the festival, so I learned that the host countries are trying to make an eco-friendly way with the slogan of the Green Olympics. I think it is better to develop than to act irresponsibly without paying attention to the environment at all, but I think there is a need for a more certain policy that will be able to satisfy the needs and concerns of all the athletes who participate. Sources:https://ko.dict.naver.com/#/entry/koko/c57e73b44db3ab8368bb08fc6c86c6a1 https://kidd.co.kr/news/237691 https://v.daum.net/v/20221123043217546

• 작성일 2024-09-09
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제 22 호 TikTok Ban in the U.S.

Kicker: WORLD TikTok Ban in the U.S. by Si-ho Park, Reporter pnshse05@naver.com With TikTok facing its biggest existential crisis in the U.S., the world has been in an uproar over this issue. TikTok supporters protested outside the U.S. capitol and countless TikTok-reliant brands, who have used the video app to boost their sales, were trembling with anxiety. Amid the controversy, a bill to ban the short-form video app, unless it does not sell to an American company, was finally approved. Opinions are still divided on whether this bill is really necessary for the national security of the United States, or if it is an excessive suppression of freedom of expression. So why and how was the bill enacted? What changes will this make to TikTok users in the United States, TikTok, and other companies? Let's take a closer look at this issue. https://www.bbc.com/future/article/20240426-the-ghosts-of-indias-tiktok-social-media-ban Why and How Was the TikTok Bill Enacted? The official name of the U.S. TikTok bill is “Protecting Americans from Foreign Adversary Controlled Applications Act.” As the name of the bill suggests, national security is the cause of the ban on TikTok in the United States. Then, how is TikTok affecting the U.S. national security? Many in the U.S. voice concerns that ByteDance, the Chinese company that owns TikTok, is leaking sensitive dataof 150 million users in the U.S. They argue that ByteDance can hand over user information to the Chinese government based on Chinese law that allows the Chinese government to secretly demand data from Chinese companies and citizens for intelligence-gathering operations. They also worry that China could manipulate TikTok algorithms in content recommendations, fueling misinformation about the U.S. presidential election, the Israel-Hamas war, or any other crucial issues. The TikTok bill was passed directly by the Senate on April 23, 2024, after the U.S. House of Representatives passed it by a landslide on April 13. The bill was finalized when President Biden immediately signed it on April 24. TikTok’s Response and Effective Date of the TikTok Ban The Chinese government and ByteDance are saying they will not sell TikTok, and TikTok released a statement on X. “This unconstitutional law is a TikTok ban, and we will challenge it in court,” the statement reads. “We believe the facts and the law are clearly on our side, and we will ultimately prevail.” The statement noted that the ban would “devastate seven million businesses and silence 170 million Americans.” The original proposal gave ByteDance just six months to divest from its U.S. subsidiary, but negotiations lengthened it to nine. Then, if the sale is already in progress, the company will get another three months to complete it. Therefore, it would be at least a year before the ban goes into effect – but as it said directly, TikTok has sued the federal government, and it may take months or years to resolve the issue between TikTok and the U.S. government. The Potential Impact on TikTok and Other Companies or Communities As seen in the chart below, the United States is TikTok's biggest market, and if TikTok is banned in the U.S., the damage will be enormous. However, what makes the problem more serious is that this damage will not be limited to TikTok, and many companies and influencers who use TikTok as a marketing tool are also expected to suffer. According to a March 2024 Oxford Economics report, which surveyed 1,050 small business owners and 7,500 TikTok users, over seven million businesses use TikTok to promote their products. More than half the respondents to the study said TikTok has helped them reach a new audience that they wouldn’t have otherwise been able to tap into, while 45% of those surveyed said a “meaningful portion of their business’ success and/or growth is directly attributable to their TikTok marketing efforts.” Not only companies but also individuals are expected to be affected by the TikTok ban. TikTok is an essential place for marginalized groups, such as disabled people, or social issues, such as the Russia-Ukraine war, to get attention from many people. Disability rights activists are building a community and getting lots of support through TikTok. Also, Ukrainians are informing the situation in their country, expressing their hopes of stopping the war, and calling for U.S. and world attention and support by uploading a short video to TikTok. Thus, there are concerns that the U.S. TikTok bill will weaken their influence. Countries with the largest TikTok audience as of April 2023 (in millions) https://www.statista.com/statistics/1299807/number-of-monthly-unique-tiktok-users/ Precedent of India’s TikTok Ban There are lots of controversies over this bill since the U.S. is an influential country, but the TikTok ban is not only implemented by the U.S. There are so many countries that have banned TikTok from the public sector or official devices, and India, which was one of the biggest markets of TikTok but banned it nationwide like the U.S., has drawn the most attention. TikTok was one of India’s most popular apps until it was banned in 2020. There were 200 million TikTok users in India, but the border skirmish between China and India led the Indian government to ban the app. There was lots of backlash in India because TikTok was a channel for people with low socio-economic status to access news. However, with the TikTok ban, many Indian startups enjoyed new business opportunities. Of course, many alternatives such as Instagram Reels and YouTube Shorts already exist in the U.S., so this will not be the case in the U.S., but as many people are using TikTok, there are still many opinions that banning it violates freedom of expression. Now, it’s your turn to think about it. Is the TikTok ban in the U.S. an overregulation that violates freedom of expression, or is it justifiably necessary for national security? Was there any other way to stop the leakage of information to China without banning it? I hope this article was an opportunity for the readers to learn a lot about this issue and think about it in various ways. Sources: https://www.nytimes.com/article/tiktok-ban.html https://www.theguardian.com/technology/article/2024/may/05/tiktok-ban-algorithm-decline https://www.euronews.com/next/2024/03/14/which-countries-have-banned-tiktok-cybersecurity-data-privacy-espionage-fears https://edition.cnn.com/2024/04/25/business/bytedance-denies-reports-selling-tiktok-intl-hnk/index.html https://apnews.com/article/tiktok-divestment-ban-what-you-need-to-know-5e1ff786e89da10a1b799241ae025406 https://time.com/6971589/tiktok-ban-creators-react/ https://www.bbc.com/future/article/20240426-the-ghosts-of-indias-tiktok-social-media-ban

• 작성일 2024-06-04
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제 21 호 S. Korea-U.S.-Japan Strengthen Trilateral Cooperation

Kicker: World S. Korea-U.S.-Japan Strengthen Trilateral Cooperation by Si-ho Park, Reporter pnshse05@naver.com Starting with the Camp David summit, South Korea, the U.S., and Japan have recently strengthened their cooperation and formed an alliance. These three countries are not the only ones who are strengthening their alliances. North Korea, Russia, and China are also forming their alliances, and these changes include various factors in international relations, such as the U.S.-China conflict and intensifying tensions on the Korean Peninsula. The trilateral alliance is a combination of cooperation not only in security, but also in other diverse fields, such as military, technology, and the economy. Let's take a closer look at the details of trilateral cooperation. Purpose and Process of Strengthening Trilateral Cooperation The leaders of South Korea, the United States, and Japan held a first stand-alone summit at Camp David, in August 2023, to reaffirm their commitment to trilateral consultations aimed at addressing regional conflicts, North Korea’s expanding threat, and shared interests through annual high-level dialogue meetings. It was the beginning of the trilateral security alliance of South Korea, the United States, and Japan. The purpose of strengthening cooperation between the three countries is to respond to diplomatic regional issues such as the deepening US-China conflict, competition for hegemony in the Indo-Pacific region, and intensifying tensions on the Korean Peninsula. They are eager to make the world safer and the three countries stronger through trilateral ties. After the Camp David summit, the three countries began full cooperation. On October 22,the air forces of South Korea, the U.S., and Japan held their first-ever trilateral aerial exercise in response to evolving North Korean nuclear threats. Continually, the three countries continue to deepen trilateral defense cooperation, agreeing to start sharing real-time missile-warning data from December 2023 to better detect and assess North Korea’s increasingly frequent ballistic missile launches. Missile defense cooperation, particularly the sharing of missile-warning data, was one of the key elements of the Camp David agreements. Besides, the three countries also launched a high-level consultative group on countering North Korean cyber activities that they say finances its unlawful weapons programs. They agreed with new initiatives on December 9 to respond to North Korea's threats in cyberspace, including cryptocurrency abuses and space launches. On January 5, 2024, they have expanded their security cooperation beyond North Korea with their Indo-Pacific Dialogue. South Korea, the U.S., and Japan held the first trilateral Indo-Pacific Dialogue in Washington, aimed at deterring Beijing from escalating threats in the region. Through all these efforts together, the three countries are trying to continue to build upon their cooperation to respond to regional challenges and ensure peace and stability on the Korean Peninsula, in the Indo-Pacific, and beyond. While South Korea, the U.S., and Japan are strengthening their cooperation, North Korea, China, and Russia are also growing their own alliance. The other three countries strengthening alliance is happening amid increasing pressure on Russia following its invasion of Ukraine in 2022 and the ongoing war. And China is also feeling the heat of new restrictions related to access to technology. https://thediplomat.com/2023/10/the-growing-china-north-korea-russia-axis-and-south-koreas-response/ Cooperation in Fields: Military Security, Technology, and Economy The Trilateral Leaders’ Summit between the United States, Japan, and Korea at Camp David in August began building military security partnerships by stressing the importance of improving information sharing and coordination on real-time data tracking of North Korean missiles. However, it was not limited only to the security field, but also included economic and technological cooperation. The less-noticed parts of the agreement covered a lot of ground in supply chains, technology, and economic security among the three nations, which play a critical role in the key supply chains of semiconductors, electric vehicles (EVs), and batteries. Basically, in the field of military security, South Korea, the U.S., and Japan have institutionalized military cooperation, including conducting systematic joint exercises and agreeing to share real-time data on North Korean missiles. By strengthening the trilateral military alliance, the U.S. has formed a new confrontation structure between the great powers over China and Russia, and South Korea has strengthened its checks on North Korea. And as the U.S.-China strategic competition in key technology areas such as semiconductors intensified recently, the three countries are strengthening their partnership in other sectors than military security, with new alliances through “Chip 4.” They are expanding the cooperation scope to include economic security and advanced technology. The trilateral cooperation such as sharing North Korea's missile warning information, protects national security by sharing technical information from each country, so it can be said to be a technology security cooperation across multiple fields. Meanwhile, The Federation of Korean Industries (FKI) aims to hold regular business summits to promote cooperation with the Japan Business Federation and the U.S. Chamber of Commerce. This suggests that the three countries will also strengthen cooperation in other areas, such as economy and management. Despite the efforts of the three countries, there are some historical and geographical issues remaining in Korea-Japan relationships. Colonization and “comfort women” issues are still continuing, and the conflict over Dokdo has not been resolved. Therefore, concerns over the trilateral alliance have been raised constantly. The alliance has become the biggest pillar in international politics. Understanding the confrontational relationship between the allies, which is formed around the conflict between the U.S. and China and is a major issue on the Korean Peninsula and will be of great help in understanding the international situation. I hope you could learn about how Korea should move forward and how we can build relationships with other countries. It could also be a way to raise your critical perspective by questioning whether the alliance is fueling global division. Sources: https://www.cfr.org/timeline/us-south-korea-alliance https://apnews.com/article/south-korea-japan-us-aerial-drills-fc04a9b22a04b118d774ed70837b7aeb https://www.reuters.com/technology/us-south-korea-japan-launch-consultative-group-norths-cyber-threats-2023-11-06/ https://www.reuters.com/world/us-skorea-japan-security-advisors-seoul-trilateral-meeting-2023-12-09/ https://www.japantimes.co.jp/news/2023/11/13/japan/politics/japan-us-south-korea-trilateral-analysis/ https://www.voanews.com/a/us-south-korea-japan-seek-to-expand-cooperation-to-counter-china-/7438392.html https://www.piie.com/blogs/realtime-economics/us-japan-korea-trilateral-cooperation-can-herald-new-era-economic-security

• 작성일 2024-02-20
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제 20 호 Why Did the Israel-Hamas War Start?

Kicker: WORLD Why Did the Israel-Hamas War Start? By Su-Young Kim, Reporter /kimsuyoung1342@gmail.com The Israel-Hamas war began when Hamas, an armed political faction that rules Gaza in Palestine, launched a massive attack on Israel on October 7, 2023, the Jewish Sabbath. The war is causing many deaths and injuries, and people are terrified, with their safety threatened. These wars have continued in the Middle East. Why is there a terrible war going on? Let’s find out why. First, froma historical perspective, the reason for the Israel-Hamas war should be traced back to World War 1. World War 1 was a war in which the Allies from Britain, France, and Russia and the Central Powers from Germany and Austria fought as the center of both camps, which lasted for four years from 1914-1918. The allies, including Germany, prevailed in the early days of the war, and Britain and its allies tried to benefit through internal division of the Ottoman Empire, which was an ally of Germany. The Ottoman Empire's territory https://www.worldatlas.com/articles/why-did-the-ottoman-empire-fall.html As you can see on the map, the Ottoman Empire was widely spread throughout the Balkans, Asia Minor, and North Africa, and colonized many peoples. The Arabs were one of the peoples colonized by the Ottoman Empire. The Arabs wanted to break away from the Ottoman Empire and establish an independent state. At the beginning of World War 1, Germany and other allies prevailed, and Britain sought to gain an upper hand in the war through the division of the Ottoman Empire. Thus, in the 1915 McMahon Declaration, Britain promised Arabs that if they fought with Britain against the Ottoman Empire, they would establish an independent country for Arabs in the Middle East, including Palestine. The British were also trying to borrow money from Jews, who were spread around the world to raise a lot of war funds because Germany was so powerful. The United Kingdom issued the Balfour Declaration on November 2, 1917, a declaration announced by British Foreign Minister Balfour that he agreed to establish a nation-state for Jews in Palestine to support Jews in World War 1. Furthermore, in 1915 and 1917, when the McMahon and Balfour Declaration were announced, the Pico Agreement, a secret agreement agreed by Russia that Britain and France would divide and occupy the Middle East if they won World War I. However, this is brought to light by Russia's revelations. Eventually, the British double contract against Arabs and Jews became known. Balfour and Balfour Declaration https://terms.naver.com/entry.naver?docId=630048&cid=50766&categoryId=50794 On the other hand, as the term diaspora suggests, Jews were scattered around the world. However, Jews moved to Palestine during World War 2 because of severe oppression from the German Nazis. Thus, conflicts arose between Arabs originally living in the Palestinian region and newly moved Jews, and the United Nations proposed a split resolution. United Nations Resolution https://www.britannica.com/topic/United-Nations-Resolution-181 As shown on the map, the green part was suggested to be inhabited by Jews and the orange part by Arabs, but the Arabs opposed the UN proposal because there were already more Arabs living in Palestine than Jews at that time. In 1948, the Jews founded Israel when Britain, which ruled the Palestinian region, withdrew from Gaza, which is currently at war. Arabs, including Hamas and not many Jews are living in Gaza and conflicts between them have not paused. Hamas is a Sunni Muslim and nationalist political party and paramilitary organization in Palestine. It is leading the Palestinian armed struggle against Israel. In the 2006 Palestinian general election, Hamas beat Fatah, who supported the bilateral plan for peaceful coexistence with Israel, and later came to power in the West Bank and Hamas in Gaza after a power dispute with Fatah. The war may have been influenced by several factors as well as historical reasons in the past. Gaza has a high unemployment rate, so the war may be aimed at bringing together internal forces through war. There is also an analysis that the war, may have started as relations improve between Israel and Saudi Arabia to prevent their diplomatic relations from being normalized. To sum up, we looked at the historical, political, and social reasons for the Israeli-Hamas war that began in October. Historically, Jewish, and Arab misunderstandings, conflicts between the two peoples in the Palestinian region, as well as social issues such as Gaza's unemployment rate and relations with neighboring countries are analyzed as reasons for war, but regardless of the reason, I don't think it's right to resolve violence through ruthless wars by any means.

• 작성일 2023-11-25
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제 19 호 Meaningful Time in Europe

Kicker: WORLD Meaningful Time in Europe by Si-ho Park, Reporter pnshse05@naver.com With the end of the COVID-19 pandemic, many people have begun to travel abroad again. In fact, the reservation rate of travel products of Yellow Balloon, a Korean travel agency, in the second quarter of this year increased more than 1,200% and 13 times compared to the same period last year-on-year. Compared to 2019, before COVID-19, it has recovered by about 80%. Especially, traveling to Europe has been considered as a dream of many college students since the past. So, in this article, I brought information about European travel destinations to help you plan your trip. The European countries to be introduced are France, Germany, and the Czech Republic. Paris, France France is located in the western part of the continent, between the Mediterranean Sea and the Atlantic Ocean, and is the third largest country in Europe.The capital is Paris and the official language is French. France's most famous structure, the Eiffel Tower, was built in 1889 as a symbol of the Paris International Exposition, which celebrated the 100th anniversary of the French Revolution. Next, the Arc de Triomphe is a huge arch located in the middle of Charles de Gaulle Square, at the western end of the Champs-Élysées Street in Paris, France. The Triumphal Arch was built in honor of the dead in the French Revolution and the Napoleonic Wars, under which the names of all French victors and commanders in the war were embossed. Lastly, the Louvre Museum is one of the world’s leading museums, also called the heart of Paris. It is designated as a World Heritage Site, including around the Seine River in Paris. The solemn building in the form of a “c” holds a transparent glass pyramid as if it were a gem. It is famous for including in its collection the Mona Lisa, and is called one of the three major museums in France, along with the Musée d'Orsay and the Orangeries. Munich, Germany Germany is a country in central Europe. After World War II, it was divided into West and East Germany in 1949 and unified in 1990. The capital is Berlin, and the official language is German. Germany has a history of being ruled by the Nazi Party and Adolf Hitler from 1933 to 1945. The Dachau concentration camp was first opened in Germany as a concentration camp in Nazi Germany. Munich Regional Police Commissioner Heinrich Himmler officially described the camp as "the first concentration camp for political prisoners." Another travel destination in Munich is the Knippenberg Palace. The Palace of Knippenberg is a summer annex of the former Bavarian kingdom of Wittelsbach, located in Munich, the capital of Bavaria, Germany. Praha, Czech Republic The Czech Republic, located in central Europe, became independent of Germany after World War II. Lidice in the Czech Republic used to be a slaughterhouse in the Second World War. The Lidice Massacre was a massacre by Nazi Germany in Lidice, located in the Bohemian Morava Protectorate in June 1942 during World War II. The most famous tourist attraction in Prague, Prague Castle, has existed since the early history of Prague, and it is a symbol of Prague and the Czech Republic. The kings of the Bohemia and emperors of the Holy Roman Empire ruled here, and now the presidential residence of the Czech Republic is located here. Interlaken, Switzerland Switzerland is a country in central Europe, the capital is Bern, and four European languages are used together as official languages. Switzerland is very famous for its beautiful natural scenery. Interlaken is a city in the canton of Bern, Switzerland, which means "between lakes" in German. Many tourists flock to Jungfrau because it is the base of mountain climbing. It goes up to Jungfrau via Interlaken East Station. Jungfrau is one of the main peaks of the Bern Alps in Switzerland and has an elevation of 4,158 m above sea level. European countries have a lot of meaningful history and many places to look around. However, the conflict over equality has recently ignited in France due to immigration discrimination, thus leading to huge protests. Therefore, France is not safe recently, so it is better to make travel plans after looking at the national atmosphere. I hope this information will help you plan your trip. Have an enjoyable trip! Sources: https://newsis.com/view/?id=NISX20230713_0002374843&cID=13001&pID=13000 https://www.toureiffel.paris/en/the-monument/universal-exhibition https://www.paris-arc-de-triomphe.fr/en/discover https://www.history.com/topics/world-war-ii/dachau https://www.lidice-memorial.cz/en/ https://www.myswitzerland.com/en/destinations/interlaken/

• 작성일 2023-08-10
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제 18 호 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting

Kicker: WORLD 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting by Si-ho Park, Cub-reporter pnshse05@naver.com East Asian countries - some ASEAN countries and other three countries of Korea, Japan, and China - are cooperating through the community of ASEAN+3. The 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting was held on May 2nd, 2023. At the meeting, the global economic situation, and the direction that Asian countries should take were comprehensively dealt with. Therefore, by understanding the contents of this meeting, we will be able to understand the international economy in general. About ASEAN+3 The Association of Southeast Asian Nations, or ASEAN, is a political and economic union of 10 member states in Southeast Asia: Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei Darussalam, Vietnam, Lao People’s Democratic Republic, Myanmar, and Cambodia. They established ASEAN in 1967 to promote regional economic development and peace. ASEAN Plus Three (APT) consists of ten ASEAN Member States and the Republic of Korea, the People’s Republic of China, and Japan. The APT Cooperation process began in December 1997 and since then has evolved as the main vehicle to promote East Asian Cooperation towards the long-term goal of building an East Asian Community, with ASEAN as the driving force. The APT has become one of the most comprehensive cooperation frameworks in the region, and APT cooperation continues to be broadened and deepened in a wide range of areas, including political-security, trade and investment, finance, energy, tourism, agriculture and forestry, environment, education, health, culture and arts, and others. The 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting The meeting was held on May 2, 2023, in person for the first time since the COVID-19 pandemic. All member countries’ finance ministers and central bank governors were gathered, and the president of the Asian Development Bank (ADB), the Director of the ASEAN+3 Macroeconomic Research Office (AMRO), the Deputy Secretary-General of ASEAN Secretariat, and the Deputy Managing Director of the International Monetary Fund (IMF) were also present at the meeting. They exchanged views on current developments and the outlook for the global and regional economies, as well as policy responses to risks and challenges. The ASEAN+3 financial cooperation has played an increasingly essential role in supporting regional economies to address risks and challenges. https://aseanplusthree.asean.org Recent Economic and Financial Developments in the Region The ASEAN+3 economies grew by 3.2 percent in 2022, despite the impacts of the COVID-19 pandemic and the Russia-Ukraine conflict which escalated into a crisis. The inflation rate rose to a record high worldwide, and the recent banking sector turmoil in the US and Europe has also brought chaos to the global economy. The ongoing Russia-Ukraine conflict has triggered tighter financial conditions, in addition to supply chain disruptions and higher global commodity prices. As uncertainty in the economic situation increases due to the various crisis situations, regional cooperation has been more emphasized recently. They also had a discussion to utilize the key emerging sectors such as the green and digital economies, and promote strong, resilient, and sustainable financial growth. They found the need to collaborate towards a strong and inclusive recovery and make continued progress for sustainable development, to make stronger, greener, more resilient, and better balanced global development. The meeting affirmed the strong commitment to the open, free, and fair trading system with the World Trade Organization (WTO) at its core. The member countries supported an enhanced regional economic integration and the implementation of the Regional Comprehensive Economic Partnership (RCEP) Agreement. ASEAN+3 finance ministers and central bank governors also decided to strengthen regional cooperationthrough the future direction of the Regional Financial Agreement (RFA), the Chiang Mai Initiative Multilateralization (CMIM), and the Regional Macroeconomic Research Organization (AMRO). Amid the recent world situation, which has seen various rapid changes and increased uncertainty, we should reconsider the need for regional cooperation. In particular, cooperation in the ASEAN region, where growth is significant, will be more emphasized. The ASEAN+3 is expected to grow by 4.6 percent in 2023, with strong domestic demand and the economic recovery from COVID-19. I also hope this article to be an opportunity for you to think about the direction of future cooperation. Sources: https://aseanplusthree.asean.org https://n.news.naver.com/article/001/0013917725?sid=104 http://www.businesskorea.co.kr/news/articleView.html?idxno=113982 https://n.news.naver.com/article/008/0004882522?sid=101 https://n.news.naver.com/article/277/0005253766?sid=101

• 작성일 2023-05-29
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제 17 호 Easing of China’s Quarantine Policy

Kicker: WORLD Easing of China’s Quarantine Policy By Jun-Seo Park, Cub-reporter from23juns@naver.com China abolished the “Zero-COVID” policy, which has been thoroughly maintained for the past three years and eased quarantine with ‘With-Corona’. Why is China rapidly easing its quarantine policy? “Zero-COVID” is a policy that prevents the spread of COVID-19 through intensive regulations, such as implementing lockdown measures. Since the outbreak of the pandemic, China has stuck to its strong Zero-COVID policy by blocking areas where confirmed cases occurred. Developed countries such as Korea, the United States, and EU have almost regained their daily lives, if not collective immunity, since late 2021. In this respect, China’s policy of excessively suppressing individual freedom has proven to have clear limitation. Eventually, people’s livelihoods collapsed, and protests spread. And it made the Chinese government discard Zero-COVID and ease quarantine policy. Therefore, China’s “With-Corona” will have lots of influence on the world economy. Impact of Zero-COVID China has stuck to its Zero-COVID policy for the past three years. The zero-corona policy is to make China’s COVID-19 confirmed cases zero, and accordingly, if even one confirmed case occurs, that area was blocked and residents were quarantined. China is called the world’s factory because it is the world’s largest supplier of intermediate goods*. Also, China trades with many countries around the world. As China adhered to Zero-COVID policy, it continued to block major ports and production facilities for a long period. Thus, the global supply chain has worsened significantly. A lockdown had been placed on an important part of China’s economy, and in the aftermath, growth rates of other countries were lowered and inflation has become steep. If the supply chain worsens, companies will not be able to receive necessary components on time. This is because the supply of raw materials is insufficient compared with demand. Thus, PPI** rise, and CPI*** rise accordingly. When prices rise, central banks in each country try to stabilize prices. However, supply-induced inflation does not fall easily just because interest rates are raised. Since what can be controlled by rise of interest rate is not inflation from supply, but inflation from demand. With prices rising sharply, FED**** has been raising interest rates at a very rapid pace. As interest rates rose, asset prices fell because discount rate on asset prices increased. Surely, this phenomenon cannot be attributed to China’s Zero-COVID. This phenomenon is attributed to a number of complex factors, including the Russia-Ukraine war. * intermediate goods: goods used to produce other goods in production process such as raw material ** PPI: abbreviation of Producer Price Index, cost of an enterprise such as cost of raw materials ***CPI: abbreviation of Consumer Price Index, indicating price fluctuations of consumer goods and services purchased by households to lead consumer life. ****FED: abbreviation of Federal Reserve System, United States central bank system that carries out the country’s monetary and financial policies Abolition of Zero-COVID Policy, Beginning of With-Corona The Chinese government, which has maintained a high intensity quarantine policy, has faced limitations. The Chinese people could not freely go to restaurants and convenience stores, and jobs were also difficult to find. As people’s freedom was suppressed and people’s complaints increased, the white paper protest against the Zero-COVID policy began in November 2022. In this situation, the core content of Zero-COVID, which caused many complaints from the Chinese people, was discarded. China’s White paper protest The Positive Impact of Abolishing the Zero-COVID Policy China’s economy may be temporarily hit as the number of COVID-19 confirmed cases in China is likely to increase right now. However, in the long term, if China’s economy recovers vitality through reopening*, it will have a positive impact on the Korean economy. In terms of international trade, if the global supply chain recovers, it will play a positive role in falling prices and logistics costs will fall as cheap Chinese products are traded. Furthermore, workers will move actively, then labor costs will fall. These are also expected to help stabilize global inflation by offsetting inflationary pressure caused by increased consumption. *reopening: resumption of economic activity The Negative Impact of Abolishing the Zero-COVID Policy However, there are not only good aspects. The global energy supply chain has fluctuated due to the Russia-Ukraine war last year. Not only did Russia natural gas supplied to Europe decrease, but crude oil was also sanctioned. Demand for energy exports from countries other than Russia was bound to increase. Amid the faltering energy supply chain, China’s full-fledged economic activities have provided an opportunity to trigger energy inflation. This means that domestic electricity and gas rates are more likely to rise further. China is currently increasing uncertainty in the global energy supply chain. China had implemented intensive quarantine measures and did not engage in more economic activities than necessary. Recently, it is interpreted that China’s energy demand could increase by easing the level of quarantine and informing full-fledged economic activities. Since it has not been long since the Zero-COVID policy was abolished, it seems difficult to accurately predict whether the positive or negative impact will be greater on the global economy, including Korea. As China abandons its long-held Zero-COVID policy and enters a new phase, it will be interesting to see how the global economy flows. Sources: https://post.naver.com/viewer/postView.naver?volumeNo=34806736&memberNo=28192866&vType=VERTICAL https://terms.naver.com/entry.naver?docId=3434317&cid=58456&categoryId=58456 https://www.munhwa.com/news/view.html?no=2023020901030630000001 http://www.m-i.kr/news/articleView.html?idxno=986337 https://www.yna.co.kr/view/AKR20230109001152530?input=1195m Image sources: https://asiasociety.org/korea/jelo-kolona-zero-covid-jeongchaegeulo-wigie-mollin-junggug https://www.hani.co.kr/arti/international/international_general/1071010.html

• 작성일 2023-02-19
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제 17 호 NEOM Project: Will Future Cities Come True?

Kicker: WORLD NEOM Project: Will Future Cities Come True? by Si-ho Park, Cub-reporter pnshse05@naver.com How will the city change in the future? It might be run on 100% green energy and build on a huge scale in the desert or in the ocean. An imaginary city that seems unrealistic may come true. Saudi Arabia has a specific plan for this future city. It is called the “NEOM city.” Crown Prince of Saudi Arabia Mohammed bin Salman envisioned it, as he laid its foundations to be the future, an agent of progress and change. The NEOM city project is a mega project with a total cost of $500 billion. Crown Prince Bin Salman expressed his plan to create a special industrial, residential, and tourism zone in the future to change the oil-oriented Saudi economy. With Saudi Crown Prince Bin Salman’s visit to Korea on November 17 last year, the NEOM city project is drawing more attention in Korea. What is NEOM? The name “NEOM” is a combination of “Neo,” which means new in Greek, and the first letter “M” of “Mustaqbal,” which means the future in Arabic. The site is about 26,500 square kilometers, about 44 times the size of Seoul, and is currently expected to cost $500 billion. As such, NEOM city is an ambitious project on a very large scale. NEOM city is envisioned to be powered solely by renewable energy, such as solar power and green hydrogen.Saudi Arabia aims to become the world’s largest hydrogen exporter, with an annual production capacity of 4 million tons by 2030.Saudi Arabia also wants NEOM city to be the smartest city in the world, powered by a 5G network infrastructure with cutting-edge technologies including the Internet of Things (IoT), cloud computing, robotics, and big data-based machine learning. The NEOM city project includes a total of four cities, including “Sindalah,” “The Line,” “Trojena,” and “Oxagon.” “Sindalah” is a luxury island destination in the Red Sea. It is a representative resort in Saudi Arabia with a pleasant climate in all four seasons. You can enjoy various water sports such as snorkeling, water skiing, and scuba diving. It is planned to build various accommodation facilities and yacht anchorage here. “The Line” is a vertical city with a width of 200m, a height of 500m and a length of 170km that can accommodate up to 9 million people. Mirror walls will be built on both sides of the city, which is planned to allow visitors to feel the natural environment wherever they look. As a city that emphasizes eco-friendliness, The Line will be the world’s first city powered by renewable energy such as wind power, solar heat, and hydrogen. Unlike traditional cities that used to focus on transportation and infrastructure, The Line is designed to focus on people’s well-being and health. The Line’s schematic diagram (https://www.NEOM.com/en-us) “Trozena” is a mountain tourism complex and plans to organize various contents. Saudi Arabia’s first outdoor ski resort and artificial lake are planned to be built, making it the venue for the 2029 Asian Games. Finally, “Oxagon” is an octagonal industrial complex built on the sea. The plan is to operate with 100% clean energy and create 70,000 jobs. In addition, as Oxagon will be built near the Suez Canal, 13% of the world’s trade volume will go through Oxagon. Saudi Arabia plans to foster industries that will take responsibility for the country’s future through Oxagon. The schematic diagram of the Oxagon (https://www.NEOM.com/en-us) Domestic Participating Companies In Korea, many companies are also participating in the NEOM city construction, including Samsung C&T, Hyundai, Naver, KT, and Korea Electric Power Corporation. Samsung C&T, along with Hyundai Engineering & Construction Co., has won a $1 billion order to build The Line underground high-speed railway tunnels. When Crown Prince Bin Salman visited Korea last time, he signed MOUs on green hydrogen and modular areas. An official from Samsung C&T said, “NEOM city related business orders will continue to expand.” Hyundai Rotem drew attention when it was selected as one of the six major companies that signed MOUs directly with the Saudi government during Crown Prince Bin Salman’s visit to Korea. Hyundai Rotem is expected to cooperate with Saudi Arabia Railways in the NEOM city railway sector in a 2.5 trillion won project. Hyundai Motor Group also won orders for infrastructure projects with Hyundai Engineering & Construction at the forefront, while Hyundai Modis and Hyundai Motor are competing for orders with self-driving, smart logistics, and urban aviation mobility technologies. Controversy: Feasibility, Environmental Degradation, and Labor Exploitation Meanwhile, there are many concerns and criticisms about the NEOM project.First, it is about feasibility and environmental degradation. In the opinion of architects, Neom City has pointed out that it is unconventional, with no geographical or environmental consideration. In the case of the mirror city of The Line, the sun will not reach the lower floors of the building, and the construction of the terrace on each floor will also be difficult. It is also predicted that the overall cost will more than double the plan. The concern is that the environmental conditions of the desert are poor for construction work and could lead to higher costs. Another point of the architects is that Neom City is a city built to use eco-friendly energy, but it rather causes environmental damage. Korean architect Yoo Hyun-joon, the representative of the “Hyunjoon Yoo Architects”, said that a 170-kilometer straight city is almost cutting off the ecosystem in his own YouTube channel. Criticism of workers' human rights violations has also been raised. The city-building workers in Saudi Arabia often borrow to pay large recruiter fees and find themselves before their first day of work in debt, which they spend the first few years of their employment simply paying off. Under the exploitative sponsorship system known as kafala, migrant workers often have their passports confiscated by employers who subsequently exercise veto power over their workers’ decisions to change jobs or even leave the country. Working conditions for construction workers are often particularly brutal, with long work hours on dangerous work sites in boiling hot temperatures. Saudi Arabia will have to ensure workers' rights and improve the working environment. Envisioned as a model and sustainable city, NEOM will be neither unless it is undergirded by sustainable labor and respect for workers’ rights. The Neom City project leaves us with room for thought in various areas, including future cities, the environment, and human rights. We should look at this and think about how we should deal with the coming future and what the right way to protect the environment or guarantee human rights is. Sources: https://www.NEOM.com/en-us https://koreajoongangdaily.joins.com/2022/11/16/business/industry/korea-NEOM-saudi/20221116162813517.html https://edition.cnn.com/style/article/saudi-arabia-the-line-city-scli-intl/index.html https://edition.cnn.com/2021/07/13/opinions/saudi-arabia-neom-workers-eisner-qadri/index.html https://www.womaneconomy.co.kr/news/articleView.html?idxno=214122

• 작성일 2023-02-19
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