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Opinion

Editorial

Fri, August 12, 2022 | 17:16

Move toward future

Business leaders of South Korea and Japan have agreed to work together to help the two countries mend their soured relations. During their annual meeting in Seoul on Monday, the Federation of Korean Industries (FKI) and the Japan Business Federation, or Keidanren, adopted an eight-point joint statement that stressed the importance of bilateral economic cooperation.

2022-07-05 17:05

Conflict of interest

Prime Minister Han Duck-soo recently caused a stir by submitting a “two-line report” about his activities at a law firm before taking his current job. On Monday, the Anti-Corruption and Civil Rights Commission (ACRC) took issue with Han's behavior. “The prime minister, who should have set the best example, handed in a poor report,” ACRC Chairperson Jeon Hyun-heui said. Jeon c...

2022-07-05 16:55

Declining approval ratings

The approval ratings of President Yoon Suk-yeol and his ruling People Power Party (PPP) have continued to fall for three consecutive weeks, according to recent Gallup Korea surveys. A poll conducted on 1,000 adults released July 1 showed only 43 percent of the respondents positively assessed Yoon's performance, down 10 percentage points in a month, while 42 percent viewed it ...

2022-07-04 17:10

Absurd COVID-19 claim

North Korea has claimed that its coronavirus outbreak began when two residents touched “alien things” in an area near the eastern inter-Korean border region in early April. The North's Emergency Epidemic Prevention Headquarters said Friday that it had started in the Ipho-ri area of Geumgang County, north of the Demilitarized Zone (DMZ) that separates the two Koreas.

2022-07-04 17:05

Need for pragmatic diplomacy

President Yoon Suk-yeol made a successful diplomatic debut at the NATO summit last week by opening the way for security cooperation with the transatlantic alliance. He also made a pitch for economic collaboration with NATO members in such fields as semiconductors, electric vehicle batteries and nuclear power plants.

2022-07-03 17:15

Alarming trade deficit

Korea's trade deficit in the first half of the year exceeded $10 billion, hitting a record high. Exports in the January-June period showed the best performance ever, but were far outweighed by import growth due to a surge in energy costs. According to the Ministry of Trade, Industry and Energy, overseas shipments in the first six months increased 15.6 percent year-on-year to ...

2022-07-03 16:55

Minimum wage row

The nation's minimum hourly wage has been set at 9,620 won ($7.41) for next year, an increase of 5 percent from this year. Representatives of the labor and management reached the agreement Wednesday night during a meeting of the Minimum Wage Commission (MWC). Despite the agreement, however, a dispute is expected to linger as both the labor and business sides remain dissatisfi...

2022-07-01 17:10

SsangYong's restart

A local bankruptcy court approved SsangYong Motor's decision to select a consortium led by KG Group as the final bidder for the debt-stricken automaker on Tuesday. The approval came a year after SsangYong's creditors put the troubled carmaker on the block. The acquisition price is about 950 billion won ($732 million), including funds for the company's stable operation. SsangY...

2022-06-30 17:00

Crucial trilateral summit

Leaders of South Korea, the United States and Japan got together in Madrid, Spain, on Wednesday and agreed to make combined efforts to jointly tackle the growing threats posed by North Korea. They also concurred on the need to fortify three-way security, economic cooperation and U.S. extended deterrence for the allies.

2022-06-30 17:00

Legislative dictatorship

The main opposition Democratic Party of Korea (DPK) is taking flak for seeking to convene an extra National Assembly session to elect its new speaker unilaterally. The DPK is poised to open the session in July unless there is progress in negotiations with the ruling People Power Party (PPP) to end the current impasse.

2022-06-29 17:00

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