Abstract:The South Korean government unexpectedly shut down the Kaesong Industrial Complex (KIC) on February 10, 2016. This article seeks to explain why the KIC shutdown happened when it did. It argues, using a Coalition Bargaining framework, that is, a combination of financial regulatory harmonization against Weapons of Mass Destruction and the U.S.‐ROK‐Japan alliance politics, led to the shutdown. According to our framework, the timing of the KIC shutdown has to be seen in light of the emerging trilateral coordinatio… Show more
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