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The key forces now shaping markets and geopolitics

NEW YORK — It’s a fascinating moment for international politics and global markets. The world is in turmoil, primarily because the United States, still the dominant superpower, has become a fundamentally unreliable actor. President Donald Trump is actively pulling apart the international order that the U.S. built and led over the past 80 years. Yet financial markets are riding high, not just in the U.S. but also in East Asia, South America, and much of Europe. Are investors wrong, or is the picture more complex than this seeming contradiction suggests? Though the situation is indeed complicated, three major factors will shape global politics and markets for the next several years. First, there are virtually no political constraints on the accelerating development of artificial intelligence (AI), which is the driving force behind the market rally and, for better and for worse, is set to continue virtually unchecked. The most important technological revolution in history — one that will create both extraordinary opportunities and unprecedented dangers—has arrived during a “geo

43m agoBy Ian Bremmer
The key forces now shaping markets and geopolitics
Guest Columns

Korea, Australia strengthen green partnership amid global supply chain disruptions

Foreign Minister Cho Hyun and his Australian counterpart Penny Wong recently released a joint statement on energy security. In the midst of the global oil crisis caused by the Middle East conflict, the two sides reaffirmed their mutual commitments to securing fuel supplies. Australia is the largest liquefied natural gas (LNG) supplier to Korea. Korea is one of Australia’s largest suppliers of refined petroleum products, and the largest supplier of diesel. While the focus was on guaranteeing fossil fuel supplies, the two countries have quietly been driving a green revolution that will be pivotal to their economic resilience in the decades to come. The meeting of the two leaders came ahead of the Australian government’s May announcement stipulating producers of LNG on Australia’s east coast will have to set aside 20 percent of their gas exports for domestic users from July 2027 onwards. Importantly, the policy excludes existing export contracts entered into before the government’s previous announcement in December 2025. The exemption should allay concerns from Korean LNG buyers l

1h agoBy Kim Sung-young
Korea, Australia strengthen green partnership amid global supply chain disruptions
Tribune Service

Soccer and the World Cup is more than a game for me

My first soccer World Cup memory was watching Argentina’s Diego Maradona arrogantly juggling the ball on his shoulders, before the opening game of the Italia 1990 World Cup. I watched the grainy television in Ghana, as star-studded Argentina suffered a shocking defeat to underdog Cameroon but still went to the final, eventually losing to Germany. I cheered on Cameroon, who surprised many by reaching the quarter finals, led by the 38-year-old legend Roger Milla, who danced, shaking his hips by the corner flag after scoring his goals. The Milla dance became famous in Ghana. From that tournament, I developed a special affection for Maradona, despite his personal troubles, considering him the greatest-ever soccer player. These memories stay with you forever even as another World Cup beckons with excitement, to be hosted by the U.S., Canada and Mexico. Soccer over the years has been more than a game for me. It has been a companion, a comfort and a teacher. It is soccer in America but football in most parts of the world. It is the most popular sport worldwide, but has been playing catch-up

2h agoBy Jude Dumfeh
Guest Columns

Korea’s drug prevention efforts deserve greater recognition

As we approach June 26, the United Nations’ International Day against Drug Abuse and Illicit Trafficking, Korea is once again reassessing the nation’s drug problem. Almost daily, news headlines highlight how a rising number of drug offenses, new synthetic drugs, prescription drug misuse and organized trafficking networks pose serious threats to public health and safety. In addition to stoking public anxiety, this constant stream of alarming headlines reinforces the impression that little is being done to address the problem. While it is undeniable that Korea can no longer consider itself a “drug-free country,” the nature of the problem has also changed substantially. Digital communication, anonymous online platforms, cryptocurrency and international trafficking networks have increased the accessibility and distribution of drugs. Prevention efforts must become more adaptive and multifaceted, too. In response to these changes, Korea has expanded its approach beyond legal sanctions to include prevention campaigns, rehabilitation services and cross-agency cooperation, which togeth

20h agoBy Ma Kyung-hee and Kim Ji-woon
Korea’s drug prevention efforts deserve greater recognition
Guest Columns

The rape of Venezuela

CAMBRIDGE — Shortly after the capture of Venezuelan President Nicolás Maduro, US President Donald Trump praised the country’s new rulers. Delcy Rodríguez, Maduro’s vice president who assumed power after his arrest and transfer to the United States, was “doing a great job,” Trump said, adding that “oil is starting to flow, and large amounts of money, unseen for many years, will soon be greatly helping the people of Venezuela.” Judging by Trump’s pronouncements, Venezuela ought to be booming. And by Trump’s favorite metric, it is: oil production has increased, albeit modestly, from 908,000 barrels per day in late 2025 to 1.03 million in April. With the US effectively overseeing the country’s oil revenues, Venezuelan crude—once sold at steep discounts under American sanctions—is now priced much closer to the unusually high international benchmarks, courtesy of the Iran war. In theory, Venezuela should be awash in dollars, but is it? The macroeconomic data tell a radically different story than the triumphalist narrative coming out of Caracas and Washington. Since

1d agoBy Ricardo Hausmann
The rape of Venezuela
Tribune Service

No single person should have the power to launch nuclear weapons

“A whole civilization will die tonight, never to be brought back again.” — Donald Trump, April 7, 2026 Too often, we sip our morning coffee while reading a bizarre Truth Social post by President Trump, often posted between midnight and dawn. His missives inevitably become grist for that evening’s late-night shows. The jokes can be funny, yet in the light of day, the realities are anything but. Because threats to destroy a civilization, made by the man with the sole authority to order the use of America’s nuclear arsenal, are not easily explained away as some “madman” negotiating ploy. They are more than unhinged. They are reckless. And we are less safe when nothing stands between a reckless president and a nuclear weapon. It is not the juvenile images of the president as a “Star Wars” Mandalorian or Rambo-like warrior that should most concern us. It is the state of mind of the president in those moments. Because under the procedures for ordering the use of nuclear weapons, any president — including this president — does not need to consult any other official before

1d agoBy Steven Andreasen and Anthony Lake
Guest Columns

Beyond apologies: Writing adoptees into Korea’s global identity

In recent months, Scandinavian and Korean media alike have been saturated with echoes of the past. In my home country of Denmark, a group of Korean adoptees has sued the Danish state over alleged irregularities in their adoption practices decades ago. Simultaneously, Korea’s Truth and Reconciliation Commission is investigating the historical practices of adoption agencies. It is a quest for justice that understandably dominates the national consciousness in Korea today. But amid the legal battles, the talk of reparations and the dark headlines of systemic failure, we risk overlooking a crucial conversation. This is not just about legal clauses or financial compensation. It is about something as fundamental as the right to belong — not as victims of history, but as an active part of Korea's modern, global presence. I am Susan Vinzents Jensen — born Jun Hong Ah — and I am one of the approximately 9,000 Korean adoptees living in Denmark. Globally, we form a massive diaspora of more than 200,000 children sent overseas in the aftermath of the 1950-53 Korean War and during the countr

1d agoBy Susan Vinzents Jensen
Beyond apologies: Writing adoptees into Korea’s global identity
Kim Sung-woo

Sustainable energy supply chain

From May 20, the Asian Leadership Conference (ALC) convened in Seoul. Often described as Korea’s answer to the Davos forum, the ALC gathers distinguished global leaders —ranging from former U.S. President George W. Bush to Indian Prime Minister Narendra Modi — to survey major challenges facing society and to explore possible policy and practical solutions. For the past 10 years, I have organized and moderated the conference’s environment and energy session. This year, the conversation was dominated by risks to energy supply chains. That emphasis reflects a stark reality: Since the United States’ strike on Iran at the end of February and the subsequent escalation into a broader Middle East conflict, the world has confronted renewed supply chain vulnerabilities that pose a direct threat to global energy security. The current crisis in the Middle East has resurrected the inflationary specter that followed the outbreak of the Russia-Ukraine war in 2022, when gas and electricity prices surged dramatically. The episode has made clear that geopolitical shocks of that magnitude can

1d agoBy Kim Sung-woo
Sustainable energy supply chain
Bernard Rowan

Going around, not through the strait – and beyond

I remember seeing various charts and graphs in school about the end of oil. Those charts concerned Middle Eastern states. Petroleum is perhaps still the world's most vital source of fuel. A recent article in Science Insights (Nov. 18, 2025) indicates that global reserves, at current production levels and use, will last another 100 years. Hannah Osborne in Live Science (May 31, 2024) cited a 2023 Rystad survey indicating 1.6 trillion barrels remain on earth. Iran correctly views Korea as an ally of the United States. While that is a simplification of Korea’s many allies and friends, including a great many nations in the Middle East, as a result, Iran won't guarantee safe passage for Seoul’s freight container behemoths. The recent damage to one such cargo container in May from weapons manufactured in Iran has done nothing to calm matters. Certainly, there will continue to be a lot of concern over oil in the Middle East and elsewhere. Korea depends on the Middle East for 70 percent of its oil and 30 percent of its natural gas (Korea Times, March 3, 2026). It has begun to use an altern

1d agoBy Bernard Rowan
Going around, not through the strait – and beyond
Guest Columns

Pax Silica: AI realigns global power balance

The latest Quad Foreign Ministers’ Meeting in New Delhi offered an important glimpse into how the Indo-Pacific region is being strategically reimagined. Among the many references to maritime security, economic resilience and trusted technologies, one phrase stood out prominently: “Pax Silica.” The term signals that the Quad is no longer merely a diplomatic consultation mechanism or a loose maritime framework. It is increasingly evolving into a broader strategic and technological architecture centered on semiconductors, supply chains, critical minerals, digital infrastructure, cyber resilience and advanced manufacturing. In many ways, the Quad is quietly transitioning from naval security dialogue into a platform that seeks to shape the future economic and technological order of the Indo-Pacific. This transformation also explains why the Quad remains highly relevant despite skepticism surrounding its purpose and longevity. Critics had long argued that the Quad lacked institutional depth, possessed no treaty obligations and consisted of countries with different strategic priorities

2d agoBy Jagannath Panda
Pax Silica: AI realigns global power balance
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Desk Columns

When nobody wants a piano anymore

I was in the fourth grade when my parents bought me a piano. I had been taking lessons for two years and wanted one desperately. When it arrived in the room I shared with my brother, I felt as if I had the whole world. Part of the excitement came from the sense of privilege. Few children in my class had a piano at home, and I suddenly became one of them. The instrument my parents bought was not new. It was a secondhand upright piano. Yet that hardly mattered to me. What mattered was that I finally had a piano to practice on — and, to be honest, to show off to friends who visited me at home. That sense of pride stayed with me for years. In fact, the piano remained in my childhood room longer than I did. When I left home for college, it stayed. When I graduated from graduate school and started working, it was still there. In 2008, when I was 28, the piano moved to my aunt's apartment in Seoul, where it served her two children, then ages 7 and 10, who were learning to play. Years later, she passed it on to an acquaintance. Three years ago, another piano entered my life. An acquaintance of

3 MIN READBy Kim Se-jeong

Staunch president, docile diplomats

For decades, Korea’s foreign policy establishment has prided itself on caution, restraint and alliance management. Its diplomats often described these traits as sophisticated — the habits of a mature middle power navigating a dangerous neighborhood. Yet the recent handling of the Israeli seizure of aid vessels carrying two Korean activists exposed the dark underbelly of that carefully cultivated image: a culture of bureaucratic self-preservation that too often mistakes timidity for prudence. The situation revealed not only a disagreement over diplomatic tactics, but the widening gap between a Korean public that increasingly demands a confident, sovereign foreign policy and the entrenched elite in those circles who are conditioned to avoid discomfort at almost any cost. In particular, the episode highlighted the contrast between political pressure for transparent and assertive action and the instinctive caution of Korea’s traditional diplomatic establishment. Figures such as National Security Adviser Wi Sung-lac and Second Vice Foreign Minister Kim Jina symbolize this mindset, whi

3 MIN READBy Shim Jae-yun

Korea’s risk-free schools

For many Koreans, school trips from elementary, middle and high school are lifelong memories. Those from Seoul mostly headed to Gyeongju, North Gyeongsang Province, to see cultural relics such as Bulguksa temple, and even rundown motels became part of the fun when shared with classmates. However, as President Lee Jae Myung recently remarked, it seems these experiences are becoming a thing of the past. “I hear that these days, students don’t go on picnics or school trips much anymore,” he said in a Cabinet meeting, lamenting that they are “taking away good opportunities from students just to avoid responsibility.” According to the Seoul Metropolitan Office of Education, only 31 percent of elementary, middle and high schools in Seoul have announced plans to conduct daytime field trips this year. Overnight field trips are decreasing even further, with only 17 percent of schools planning to do so. Behind the plunge are the excessive legal and emotional risks borne by teachers. In a survey by the Elementary School Teachers’ Union, 96 percent of teachers who responded expressed a ne

3 MIN READBy Yoon Ja-young

Empathy in an era of division

Empathy has emerged as a focus of public interest in Korea, reflecting a growing desire to understand one another in an increasingly polarized society. The steady stream of bestselling books on the subject underscores its significance in public discourse. However, popularity does not guarantee clarity. How well do we actually understand empathy, and what does it ask of us as members of a civil society? Empathy is far more than clasped hands, tearful eyes or the familiar platitude, “I feel your pain.” It is a capacity that integrates emotional attunement with cognitive perspective-taking. While emotional resonance enables us to feel what another is feeling, the cognitive dimension is to mentalize as we step beyond our own vantage point and see the world from another’s perspective. Rightly understood, empathy becomes a foundation of social life, grounded in the recognition of human dignity and a commitment to the well-being of others. Without such an orientation, civic bonds fray, and those vulnerable are pushed to the margins of society. Yet, a growing body of scholarship suggests

3 MIN READBy Ma Kyung-hee

Guest Columns

  • The key forces now shaping markets and geopolitics

    NEW YORK — It’s a fascinating moment for international politics and global markets. The world is in turmoil, primarily because the United States, still the dominant superpower, has become a fundamentally unreliable actor. President Donald Trump is actively pulling apart the international order that the U.S. built and led over the past 80 years. Yet financial markets are riding high, not just in the U.S. but also in East Asia, South America, and much of Europe. Are investors wrong, or is the picture more complex than this seeming contradiction suggests? Though the situation is indeed complicated, three major factors will shape global politics and markets for the next several years. First, there are virtually no political constraints on the accelerating development of artificial intelligence (AI), which is the driving force behind the market rally and, for better and for worse, is set to continue virtually unchecked. The most important technological revolution in history — one that will create both extraordinary opportunities and unprecedented dangers—has arrived during a “geo

    3 MIN READBy Ian Bremmer
  • Korea, Australia strengthen green partnership amid global supply chain disruptions

    Foreign Minister Cho Hyun and his Australian counterpart Penny Wong recently released a joint statement on energy security. In the midst of the global oil crisis caused by the Middle East conflict, the two sides reaffirmed their mutual commitments to securing fuel supplies. Australia is the largest liquefied natural gas (LNG) supplier to Korea. Korea is one of Australia’s largest suppliers of refined petroleum products, and the largest supplier of diesel. While the focus was on guaranteeing fossil fuel supplies, the two countries have quietly been driving a green revolution that will be pivotal to their economic resilience in the decades to come. The meeting of the two leaders came ahead of the Australian government’s May announcement stipulating producers of LNG on Australia’s east coast will have to set aside 20 percent of their gas exports for domestic users from July 2027 onwards. Importantly, the policy excludes existing export contracts entered into before the government’s previous announcement in December 2025. The exemption should allay concerns from Korean LNG buyers l

    4 MIN READBy Kim Sung-young

Tribune Service

  • Soccer and the World Cup is more than a game for me

    My first soccer World Cup memory was watching Argentina’s Diego Maradona arrogantly juggling the ball on his shoulders, before the opening game of the Italia 1990 World Cup. I watched the grainy television in Ghana, as star-studded Argentina suffered a shocking defeat to underdog Cameroon but still went to the final, eventually losing to Germany. I cheered on Cameroon, who surprised many by reaching the quarter finals, led by the 38-year-old legend Roger Milla, who danced, shaking his hips by the corner flag after scoring his goals. The Milla dance became famous in Ghana. From that tournament, I developed a special affection for Maradona, despite his personal troubles, considering him the greatest-ever soccer player. These memories stay with you forever even as another World Cup beckons with excitement, to be hosted by the U.S., Canada and Mexico. Soccer over the years has been more than a game for me. It has been a companion, a comfort and a teacher. It is soccer in America but football in most parts of the world. It is the most popular sport worldwide, but has been playing catch-up

    4 MIN READBy Jude Dumfeh
  • No single person should have the power to launch nuclear weapons

    “A whole civilization will die tonight, never to be brought back again.” — Donald Trump, April 7, 2026 Too often, we sip our morning coffee while reading a bizarre Truth Social post by President Trump, often posted between midnight and dawn. His missives inevitably become grist for that evening’s late-night shows. The jokes can be funny, yet in the light of day, the realities are anything but. Because threats to destroy a civilization, made by the man with the sole authority to order the use of America’s nuclear arsenal, are not easily explained away as some “madman” negotiating ploy. They are more than unhinged. They are reckless. And we are less safe when nothing stands between a reckless president and a nuclear weapon. It is not the juvenile images of the president as a “Star Wars” Mandalorian or Rambo-like warrior that should most concern us. It is the state of mind of the president in those moments. Because under the procedures for ordering the use of nuclear weapons, any president — including this president — does not need to consult any other official before

    3 MIN READBy Steven Andreasen and Anthony Lake
  • Will Trump throw Israel under the bus?

    When it became evident a few weeks ago that U.S. President Donald Trump had no strategy for winning the war in Iran and little hope of getting out of the increasingly unpopular conflict without losing face, I started worrying about Israel. Trump took the United States into battle in lock step with Israel's Prime Minister Benjamin Netanyahu. My concern was that if the conflict became a political hot potato for Trump, he'd drop it in Netanyahu's lap and join the chorus blaming Israel for dragging the U.S. into an unwinnable war. And now it's happening. According to reports, Iran is demanding Trump impose conditions on Israel before it will agree to a peace deal. Specifically, Iran is insisting Israel end the escalation of its bombing attacks on terrorist positions in Lebanon in response to a constant bombardment from Hezbollah. Numerous news sources are reporting Trump, in an obscenity-laced phone call Monday, lashed out at Netanyahu, calling him "crazy" and accusing him of being an ingrate. "You're f---ing crazy" Trump reportedly told the prime minister. "You'd be in prison if it weren't

    2 MIN READBy Nolan Finley

Columnists

  • Kim Sung-woo

    Kim Sung-woo is the head of Environment & Energy Research Institute at Kim & Chang.

  • Bernard Rowan

    Bernard Rowan is an associate provost for contract administration and professor of political science at Chicago State University.

  • Michael Breen

    Michael Breen is the CEO of Insight Communications Consultants, a public relations company, and author of "The Koreans" and "Kim Jong-il: North Korea's Dear Leader."

  • Park Jung-won

    Park Jung-won, Ph.D. in law from the London School of Economics (LSE), is a professor of international law at Dankook University.

  • Peter S. Kim

    Peter S. Kim is a managing director at KB Securities.

  • Chyung Eun-ju and Joel Cho

    Chyung Eun-ju is studying for a master's degree in marketing at Seoul National University. Joel Cho is a practicing lawyer specializing in IP and digital law.