[Editorial] Another national disgrace

Police are investigating 12 board members and four executives of Posco Holdings on charges of occupational breach of trust over allegations that they had subsidiaries partially pay for a lavish five-night-seven-day trip to Canada in August last year. Some of them, including outside directors who are professors, are also suspected of violating the law on improper solicitation and graft. Citing a complaint filed with the prosecution last month by a Pohang-based civic group, the Chosun Ilbo newsp

Jan. 15, 2024

[Editorial] Help drive up tourism

South Korea chalked up a current account surplus for the seventh straight month in November. But there is a troubling detail that keeps policymakers concerned: the biggest deficit of the country’s travel account in five years. South Korea’s travel account deficit doubled to $1.28 billion in November 2023 compared to the previous month, the Bank of Korea’s preliminary data showed Tuesday. The latest figure marks the biggest deficit since November 2018, when the travel account de

Jan. 12, 2024

[Editorial] Gap in college education

Education in South Korea has been a contentious area that has only gotten worse over the past few decades. Children in Seoul’s Gangnam go to cram schools, even on Christmas. In the controversial capital of hagwon, the smartest fourth graders are cracking high school math, and others are expected to have learned at least two years ahead of their grade in order to pass “level tests” for admission to a hagwon. Parents agree it’s insane, that it’s as if their kids are l

Jan. 11, 2024

[Editorial] Build up space projects

Korea took the first step to establish its own equivalent to the US National Aeronautics and Space Administration. A special bill to create the Korea Aerospace Administration passed in the parliamentary science and judiciary committees Monday and in the National Assembly plenary session Tuesday. The bill's approval came nine months after the government submitted it to the National Assembly in April last year. It is fortunate that it passed, albeit belatedly. The KASA will operate under the

Jan. 10, 2024

[Editorial] Wrangling over first lady

South Korea’s two main parties are expected to wrangle over two special investigation bills that were vetoed by President Yoon Suk Yeol on Friday. Unlike three previous vetoes exercised by the president, the latest set is likely to fuel political wrangling in a way that could impact the results of parliamentary elections in April. Under the Constitution, Yoon can exercise his veto rights within 15 days after the National Assembly sends a bill to the government. In the previous cases, he ha

Jan. 9, 2024

[Editorial] Pyongyang's intentions

South Korea's Joint Chiefs of Staff said North Korea fired some 200 artillery shells into waters near the western sea border on Friday morning, prompting the South to order civilians on the nearby islands of Yeonpyeongdo and Baengnyeongdo to take shelter. The North fired another 60 rounds Saturday afternoon, and over 90 rounds Sunday afternoon. As the shells fell into the maritime buffer zone north of the Northern Limit Line, no damage was done to South Korean civilians or military. On Frid

Jan. 8, 2024

[Editorial] Changing trade dynamics

Korea recorded a trade deficit with China last year for the first time since the two countries established diplomatic relations in 1992. It continued to fall from a surplus of $55.6 billion in 2018 and dived into a deficit of $18 billion in 2023. It is also 1.8 times as much as Korea's overall trade deficit last year. China was the country with which Korea had its largest trade deficit, except for Saudi Arabia, from which Korea imports crude oil. Meanwhile, Korea had a trade surplus of $45.

Jan. 5, 2024

[Editorial] No tolerance for violence

South Korea’s political scene hit turbulence when Lee Jae-myung, leader of the main opposition Democratic Party of Korea, was stabbed in the neck during a visit to the southeastern port city of Busan on Tuesday, a shocking physical attack that sparked a chorus of condemnation from the public as well as political figures. The Democratic Party chair was stabbed on the left side of his neck by a man who disguised himself as an autograph-seeking supporter Tuesday morning. The suspect, who was

Jan. 4, 2024

[Editorial] The right not to know

The tragic death of actor Lee Sun-kyun last week has ignited criticism against the police for not complying with its own press guidelines, and the media for reckless coverage of private details that most people do not want to, or need to, know. Since October, Lee stood in front of hundreds of flashing cameras on three different occasions and apologized to the public for “causing concern” before he entered the police building for questioning on his alleged use of prohibited substances

Jan. 3, 2024

[Editorial] Security void

Starting this year, the National Intelligence Service has taken its hands off anticommunist investigations entirely, handing the job to the police, who have taken full charge. Anticommunist investigations target violations of the National Security Law, such as espionage and anti-government activities. It was one of the main duties of the intelligence agency. The police say they are well prepared to assume the role, but public concern is still great. The previous Moon Jae-in administration pushed

Jan. 2, 2024

[Editorial] Fix 52-hour workweek

The Supreme Court’s latest ruling on the 52-hour workweek system is expected to offer some relief to companies as well as workers in need of a more flexible allocation of work hours without violating related laws. But the dispute still lingers over possible side effects of the ruling, calling for remedy in labor policy. The top court on Monday overturned some part of the lower courts’ rulings that found an owner of a flight cabin cleaning company in violation of the Labor Standards A

Dec. 29, 2023

[Editorial] The first lady conundrum

The Democratic Party of Korea, which holds majority control of the National Assembly, is set to pass a bill Thursday to appoint a special counsel to investigate first lady Kim Keon Hee over her alleged involvement in stock price manipulation that took place between 2010 and 2012. Under the previous Moon Jae-in administration, the Seoul Central District Prosecutors’ Office investigated the allegations against Kim for a year and half, but failed to indict her. The court ruled on the Deutsch

Dec. 28, 2023

[Editorial] Supply chain risk

Conflict over supply chains is deepening between the US and China. China on Thursday banned the export of technology to extract and separate rare earths, materials used to manufacture a wide array of high-tech products. Beijing stresses protecting national security and public interest as the main reasons, but it seems to have made a countermove to a US move to expand restrictions on trade with China. Prior to the Chinese ban, the US said it will launch a survey to identify how US companies are s

Dec. 27, 2023

[Editorial] Policies for older people

Both the ruling and main opposition parties are now rushing to announce new election pledges targeting the elderly in a bid to win more seats in the forthcoming general election in April next year. In rapidly aging South Korea, it is no surprise that politicians are catering to this important voter group. But the question is whether generous -- or populist in the eyes of critics -- election pledges can be implemented without securing enough funds. Last week, both President Yoon Suk Yeol and Demo

Dec. 26, 2023

[Editorial] Ailing party's best bet

Han Dong-hoon accepted his new post as interim leader of the ruling party and resigned as justice minister on Thursday. The daring and relatively articulate former prosecutor seems to be the torpid party’s best bet. The ruling People Power Party has been powerless ever since the last general elections in 2020, and is terrified of another crushing defeat in the upcoming vote in April. With the Democratic Party of Korea holding the majority in the National Assembly and thus, the power to pas

Dec. 22, 2023

[Editorial] Reduce security risks

President Yoon Suk Yeol nominated his national security adviser Cho Tae-yong as director of the National Intelligence Service and Cho Tae-yul, a former second vice foreign minister, as foreign minister. Considering Yoon's appointments of Kim Yung-ho and Shin Won-sik as the unification and defense ministers in August and October, respectively, the president has effectively completed his new diplomacy and security team. They have a lot on their shoulders now that the tension around the Korean

Dec. 21, 2023

[Editorial] Fears of negative growth

South Korea’s economic growth has been tepid in recent years, with experts calling for drastic measures to shore up sagging productivity and the shrinking working-age population. And a new report highlights the forthcoming crisis: a negative growth from 2042, a mere 19 years from now. The report, issued by the Economic Research Institute of the Bank of Korea, paints a truly gloomy picture for the country in the 2030s and 2040s unless the country deals with its sluggish productivity and plu

Dec. 20, 2023

[Editorial] Boost military intel

North Korea fired its fifth intercontinental ballistic missile this year into the East Sea on Monday morning, just 10 hours after it launched a short-range ballistic missile Sunday night as it reviled South Korea and the US over their latest show of resolve against the North’s nuclear provocations. A US nuclear-powered submarine arrived in Busan on Sunday, after South Korea and the US said “any nuclear attack by North Korea against the US or its allies will result in the end of the K

Dec. 19, 2023

[Editorial] Self-serving ex-activists?

In the National Policy Committee of the National Assembly on Thursday, the Democratic Party of Korea, which holds a majority in the Assembly, passed a bill to treat democratization movement contributors as “persons of distinguished service to the state,” amid protest by members of the ruling People Power Party. In a bid to prevent the opposition party from rushing the bill, the People Power Party requested the creation of a six-member panel under the committee that must deliberate th

Dec. 18, 2023

[Editorial] Support singletons

The South Korean government has long pushed for policies aimed at supporting what is considered a typical form of families with more than two members: two parents and a child or two. But it’s time to acknowledge that such a traditional concept does not work any longer, as over one third of Korean households are single-person households, and the share of these smallest of family units has been on a steady rise in recent years. According to Statistics Korea, 7.5 million Korean nationals were

Dec. 15, 2023