The Korea Times

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

Korea's future: embracing immigration for sustainability

Opinion

China’s century: fact or fiction

China’s rise as a global leader has sparked debates about its potential to replace the United States as the global hegemon, especially as the U.S. faces criticism for its unilateral diplomacy. The U.S. has been accused of imposing offensive tariffs, undermining alliances and disregarding democratic values in its foreign policy. In contrast, China’s economic growth, diplomatic engagement and strategic investments in infrastructure through initiatives like the Belt and Road Initiative have positioned it as a formidable contender. However, questions about China’s authoritarian governance and human rights practices remain challenges to its bid for global leadership, leaving the future of international relations uncertain. The Korea Times will explore this issue in a series of articles, examining China's potential rise as a global leader amid growing distrust toward the second Trump administration. 1. Beginning of the end for Pax Americana? 2. China's consumer-driven growth: A new anchor for global economic stability 3. China's global strategy blunts Trump's transactional diplomacy

Mar 18, 2025By Shim Jae-yun

Foreign Affairs

Korean Peninsula without USFK: South Korea must reckon with Trump's foreign policy

As anticipated, U.S. President Donald Trump has embarked on a series of bold moves that are set to reshape the global landscape. Recent actions following his Jan. 20 return to office, such as imposing stiff tariffs and pursuing controversial acquisitions of territories like Greenland, the Panama Canal and the Gaza Strip, signal a return to the business-like, deal-driven approach that Trump champions. Under this administration, even traditional allies like South Korea may not be immune to its aggressive foreign policy stance.

Feb 11, 2025By Shim Jae-yun

Korean Peninsula without USFK: South Korea must reckon with Trump's foreign policy

Opinion

Letter to President Trump

Dear Mr. President, Congratulations on your inauguration as the 47th president of the United States. Your dynamic leadership has already begun to make a significant impact, and I am optimistic that under your guidance, both the U.S. and the world will continue to thrive in stability and prosperity.

Jan 22, 2025By Shim Jae-yun

Shim Jae-yun

Read more

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

China’s century: fact or fiction

Korean Peninsula without USFK: South Korea must reckon with Trump's foreign policy

Letter to President Trump

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