The Korea Times

ED New chapter in alliance

President Lee Jae Myung’s recent visit to Hanwha’s Philadelphia shipyard and his call to “Make American Shipbuilding Great Again” (MASGA) represent far more than a symbolic gesture. It marks a pivotal moment in the evolution of the Korea-U.S. alliance, signaling a strategic shift that broadens the foundation of their partnership from traditional security cooperation to a comprehensive economic and technological alliance. This new framework promises mutual growth and shared prosperity, with Korea playing a crucial and irreplaceable role. Founded as a navy yard in 1801, the Philadelphia shipyard once faced decades of decline before Hanwha's acquisition revived its fortunes. As Lee emphasized, the vessels built there helped save South Korea during the 1950-53 Korean War, and now Korean expertise is breathing new life into American shipbuilding. This narrative is not just a matter of historical pride; it underscores why America should recognize and be grateful for Korea’s indispensable contribution. The United States today confronts an urgent need to restore its manufacturing base

Aug 28, 2025By Shim Jae-yun

Opinion

Why caution must still prevail

The latest Korea-U.S. summit unfolded in a largely friendly atmosphere and reaffirmed the solidity of the alliance. President Lee Jae Myung, reflecting on the meetings, stressed that “the results were very good.” His statement was not empty rhetoric but backed by substantive achievements. There was progress on a number of fronts. Both leaders agreed to explore a new framework for dialogue with North Korea, aiming to break the deadlock in denuclearization talks while promoting stability and peace. On the economic front, they took significant steps to deepen industrial and technological cooperation. Notably, the two sides launched a joint initiative to expand collaboration in shipbuilding by leveraging Korea’s global expertise and U.S. naval modernization for mutual benefit. Additional agreements to promote high-tech exchanges and streamline supply chains underscored a convergence of economic interests. These outcomes reflect the maturity of the alliance. However, it is too soon to be reassured. This is a process that has seen a solid start, but the devil may yet be in the details.

Aug 27, 2025By Shim Jae-yun

Opinion

Tariff mirage and Korea-US summit

History warns us. When Rome, the British Empire and Qing China faced decline, they all turned inward. Protectionism, rising tariffs and the breakdown of alliances marked the beginning of their long retreats from global leadership. Today, the United States under President Donald Trump may be approaching a similar inflection point with the U.S. Trade Representative proclaiming the end of the World Trade Organization (WTO) regime and the advent of the “Trump Round” as a new phase in global trade. Trump recently hailed a dramatic reduction in the U.S. trade deficit — down to $60.2 billion — as a triumph of his tariff policy. But a closer look reveals this to be an illusion, not a success. A statistical mirage The drop in the trade deficit is largely the result of inventory effects. Following Trump’s tariff threats, companies rushed to import goods in advance, stockpiling massive inventories. That front-loaded import surge in late 2024 inflated trade deficits to record highs, peaking at $140.5 billion in March 2025. Since then, U.S. imports have plummeted, not because of economic str

Aug 13, 2025By Shim Jae-yun

Opinion

Avoiding the demographic cliff: South Korea’s last chance

A demographic crisis is quietly accelerating in South Korea — one that threatens to reshape the nation’s future more profoundly than any economic downturn or geopolitical challenge. For the first time in its modern history, Korea is not just aging — its population is poised to shrink. And it is doing so at an alarming rate. In 2023, South Korea’s total fertility rate (TFR) fell to a record low of 0.72, the lowest among all OECD countries. In Seoul, the number was even more staggering: 0.55. These are not just outliers on a statistical chart — they are flashing red lights. A TFR this low, if left unaddressed, sets a country on a path toward rapid population decline with far-reaching consequences: a shrinking workforce, declining productivity, widening intergenerational burdens and eroding social cohesion. While comparisons are often drawn between Korea and Japan — another rapidly aging society — such parallels are increasingly inadequate. Japan’s population decline has been gradual, allowing time for policy adjustment and adaptation. Korea’s decline, by contrast, is sh

Jul 23, 2025By Shim Jae-yun

Avoiding the demographic cliff: South Korea’s last chance

Opinion

New dawn for Korea: Unity and grace

With the swath of verdant light green already turning deep green to signal summer's arrival, Lee Jae-myung was sworn in as Korea’s new president on June 4, a day of profound significance for the country’s democracy. His rise to the nation’s highest office is extraordinary — not only because of the political landscape but due to his deeply human story. Born into extreme poverty, forced into labor at a young age and permanently disabled in an industrial accident, Lee’s journey is a testament to resilience, determination and empathy. This personal history profoundly shapes Lee’s vision for Korea. Raised by a mother who endured backbreaking labor to support seven children, Lee knows hardship firsthand. His policies — including rent control, basic income and strong pandemic relief — reflect a commitment to fairness and social justice grounded not in ideology but in lived experience. Yet, despite this inspiring background and a clear electoral mandate, Lee’s presidency begins in a challenging political environment. His political opponents, including now-opposition People Po

Jun 11, 2025By Shim Jae-yun

Books

Book Review 'Living by Faith in a Life of Suffering'

“Living by Faith in a Life of Suffering” is the spiritual memoir and final testimony of the late pastor Kim Seong-bok, who, despite being diagnosed with terminal liver cancer, never let go of his pastoral calling or his unwavering faith in God. This book is more than just a record of a man’s battle with illness — it is a deeply personal confession of faith, born in the crucible of physical suffering and spiritual clarity. 1. Walking with illness and faith After being diagnosed with liver cancer in 1994, Kim endured five years of struggle before undergoing a life-saving liver transplant in 1999. Even after the transplant, he faced repeated hospitalizations and complications. Yet through it all, he remained steadfast in his belief that his life was held not by his own strength, but by the hand of God. This conviction forms the central theme of the book. 2. A theology of life through suffering Kim saw suffering not as a curse but as a path toward spiritual awakening. He called this process “theologizing life” — reinterpreting one’s pain through the lens of gratitude and divi

May 14, 2025By Shim Jae-yun

[Book Review] 'Living by Faith in a Life of Suffering'

Others

Oman seeks enhanced partnerships with Korean investors

By Shim Jae-yun MUSCAT, Oman — In a bid to attract foreign investment and showcase Oman's growing economic potential, the Gulf nation recently hosted the exclusive Advantage Oman forum. During the event, an Omani official shared insights about the country's economic vision and its desire to strengthen ties with South Korean businesses, particularly medium-sized enterprises. The invitation-only forum was designed as a platform for exchanging ideas and connecting potential investors directly with Omani decision-makers. Qais Mohammed Al Yousef, Omani minister of commerce, industry and investment promotion, emphasized that the event comes at a time of global economic uncertainty, with increasing trade challenges, tariff wars and growing polarization between nations. "What we thought with Advantage Oman is that investors are looking and wanting to know what is happening around the world, especially in the Arabian Gulf," Al Yousef stated during an interview with The Korea Times on April 27. "The GCC countries — Gulf Cooperation Council: Bahrain, Qatar, Saudi Arabia and Kuwait — are expe

May 8, 2025By Shim Jae-yun

Oman seeks enhanced partnerships with Korean investors

Foreign Affairs

INTERVIEW China's growing role and US foreign policy: S. Korea's options in shifting world order

Korea Times chief editorial writer Shim Jae-yun sat down with Moon Chung-in, the James Laney Distinguished Professor at Yonsei University, on Sunday to discuss U.S. President Donald Trump’s foreign policy and its impacts on South Korea and East Asia. The interview was held on the occasion of the publication of Moon’s new book, titled “Why Has U.S. Diplomacy Failed?” This interview has been edited for length and clarity. Q: China will be likely playing a pivotal role in the newly emerging international order. What is the nature of American domestic debates on China? The Trump administration has been treating its European allies in a hostile manner, and the future of NATO has become uncertain. Does it mean the U.S. will be paying more attention to China and Asia? A: Yes, it is stunning to see how the Trump administration has been treating its European allies. “European defense by Europeans" reminds me of the Nixon doctrine in which President Nixon proposed the policy of "Asian defense by Asians" in 1969. Nixon and Kissinger were much gentler than Trump, Vance and Hegseth. Some i

Apr 2, 2025By Shim Jae-yun

[INTERVIEW] China's growing role and US foreign policy: S. Korea's options in shifting world order

Opinion

One-sided trade barrier claims: Critical perspective on US trade demands

The recent U.S. trade barrier report has brought to light significant concerns about the trade relationship between Korea and the United States. The report categorizes Korea’s regulatory practices — spanning defense, energy, digital platforms and agricultural products — as trade obstacles. While these issues are framed as barriers to fair competition, a closer look reveals a complex situation where the U.S. stance may be overly simplistic and even counterproductive. Rather than fostering cooperation, the U.S. approach risks inflaming tensions and undermining mutual economic growth. One of the primary points of contention in the U.S. report is Korea’s use of defense offsets. These agreements, which require foreign defense contractors to invest in the local economy, have been criticized by the U.S. as potentially limiting international competition. However, this critique overlooks the larger geopolitical context in which Korea operates. As a nation with a strategic position in East Asia, Korea’s defense offsets are not just economic tools; they are a means of ensuring technolo

Apr 2, 2025By Shim Jae-yun

One-sided trade barrier claims: Critical perspective on US trade demands

Opinion

Korea's future: embracing immigration for sustainability

Korea is currently grappling with a demographic crisis that threatens its future. The nation’s population is aging rapidly, and the birthrate continues to decline, putting immense pressure on the labor market and economic stability. Rural areas, in particular, are experiencing severe shortages of workers due to the combined effects of the aging population and the migration of younger people to urban centers in search of better opportunities. In response, there is a growing conversation about immigration as a solution to these problems. One town, Yeongyang in North Gyeongsang Province, has already begun experimenting with foreign labor, bringing in workers from Myanmar to help fill critical labor gaps. This effort not only represents a potential lifeline for Yeongyang but also offers a model for how Korea could address its broader demographic challenges through a more inclusive immigration policy. Yeongyang is a rural area with an economy heavily reliant on agriculture. Like many other rural areas in Korea, Yeongyang faces the double-edged sword of an aging population and a dwindling

Apr 1, 2025By Shim Jae-yun

Shim Jae-yun

Read more

ED New chapter in alliance

Why caution must still prevail

Tariff mirage and Korea-US summit

Avoiding the demographic cliff: South Korea’s last chance

New dawn for Korea: Unity and grace

Book Review 'Living by Faith in a Life of Suffering'

Oman seeks enhanced partnerships with Korean investors

INTERVIEW China's growing role and US foreign policy: S. Korea's options in shifting world order

One-sided trade barrier claims: Critical perspective on US trade demands

Korea's future: embracing immigration for sustainability

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