The biggest stories of the year 2020 were the COVID-19 pandemic and a trade dispute between the United States and China. The pandemic significantly damaged the Asian economies. The US-China trade war halted after a phase one trade deal and the pandemic, but the future is unclear.

Among the major events that occurred in Asia in 2019 were four that received global attention: the Regional Comprehensive Economic Partnership (RCEP), the US-China trade war, the North Korean nuclear issue, and protests in Hong Kong. These events have significant policy implications for the world as well as for Asia.

The biggest story of 2018 was a series of summit meetings between US President Donald Trump, South Korean President Moon Jae-in, and North Korean leader Kim Jong-un to discuss the denuclearization of North Korea. The income-led growth policies of the Moon Jae-in administration have not stimulated the economy.

The biggest story of 2017 in South Korea was the impeachment of President Park Geun-hye and the election of Moon Jae-in, shifting power from conservative to progressive. The economy showed signs of recovery despite multiple concerns. The North Korean nuclear crisis intensified tensions in the region.

South Korea experienced democratization in 1987, yet violations of the democratic rule of law are rather common; such actions are far from routine practices of democratic institutions. We argue that South Korea’s political culture is the reason for the tardy maturing of democratic institutions.