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In this chapter, we develop a conceptual framework on how cultural value can be lost in conflict and created by the arts, artists and arts organisations again and how the arts may also help victims of conflict. We explore examples of the different ways that the effects of cultural engagement are manifested and articulated in the depiction of armed conflict, especially looking at the civil war in Syria (2011–present as of 2020) and discuss three stages in the life-cycle of cultural value. Our conceptual framework of cultural value in the depiction of armed conflict is based on the multifaceted private, public, intrinsic and instrumental benefits of the arts as well as the cultural value created by arts, artists and arts organisations. We discuss universal value at the first stage of a potential loss of cultural value. The second stage addresses the politics of aesthetic value, as the cultural value created by artists and artistic activities which may evolve during armed conflict with examples of two international war artists, John Keane and Ben Quilty. Finally, we review social value as the impact of the cultural value created in overcoming armed conflict as well as restoring and transforming impaired individuals, communities and societies. Within this context, we reinforce the notion of cultural value as an alternative framework for understanding the value constructs surrounding the creation of art in this chapter.

The 1997 financial crisis in Asia has entailed significant changes and governance reforms in the Korean banking industry. This study investigates the impact of corporate governance on the risk and return of Korean banks during the 10 years that followed the financial crisis era. In particular, we investigate the ownership structure of banks, the extent of involvement of foreign institutions and investors in ownership and board membership of Korean banks, and the heterogeneity of board structure on bank performance. Our findings indicate that foreign ownership, the extent of external board involvement, and the presence of foreign directors on the board are associated with significantly higher bank returns. Although foreign ownership and the number of outside board directors are associated with lower risk, the involvement of foreign board members is positively associated with risk. The results are fairly robust to a battery of tests and control variables, and offer the first detailed empirical documentation of the Korean banking governance reform and its achievements since 1997.

Korean educational migrant (kirogi) families have received widespread popular attention due to their ironic form of family that sacrifices the togetherness of a family. Recent trends suggest that this practice is spreading to the less affluent classes and that many such families are heading to ‘new’ destinations, including Singapore. This study examines the transnational schooling and life experiences of Korean transnational educational families in Singapore. It addresses the questions, why did these families choose Singapore? Why did transnational schooling, which parents almost unanimously said that they had organised for the betterment of their children's future, lead to some families getting stuck in the destination country?

Fieldwork in Singapore and Korea was conducted between April 2006 and September 2007. In-depth interviews with both mothers and fathers who have at least one child attending public, private or international schools in Singapore, at the primary or secondary level, were conducted with 18 families. The analysis was conducted using a grounded theory approach and NVivo 7/8.

Although the Korean state's emphasis on international competitiveness and parental aspirations for their children's future upward social mobility were common motivators, Koreans in Singapore were also attracted by the relatively low cost, English–Chinese bilingualism and other ‘family-friendly’ features in Singapore. However, kirogi children had highly contrasting schooling experiences and they met with mixed success in gaining what they expected. Furthermore, many children in public schools faced demotion and other difficulties in their new school environments. Some less affluent families found themselves facing dilemmas of cross-border schooling. This study shows that transnational schooling does not necessarily operate equally favourably for participants from diverse class backgrounds. It also demonstrates that the societal contexts of reception in both the countries of origin and of destination, including the buffering institutions and reference groups and peer culture, are important factors shaping the schooling and life experiences of educational migrant children and in reconfiguring their trajectories.