The Korea Times

Fund scandal expanding to involve ruling party politicians

Investors who incurred damage from the bad investments of private equity funds by two asset management firms hold a press conference in front of the National Assembly, Tuesday.By Do Je-hae Two financial fraud cases are spreading to the political circle with lobbying allegations involving ruling bloc figures. The cases could become another political battleground, with the main opposition People Party of Korea (PPP) calling for an investigation by a special counsel.Investment entities ― Lime Asset Management and Optimus Asset Management ― have been embroiled in massive financial fraud allegations as they have been unable to return more than 1 trillion won ($838 billion) to their customers due to bad investments. As the financial authorities' inspections and the prosecution's investigations into the cases have been stalled, suspicions have emerged that key officials in the Moon administration and the ruling Democratic Party of Korea (DPK) were targets for lobbying by the troubled hedge fund operators.One of the figures was Kang Ki-jung, former senior presidential secretary for political

Oct 13, 2020By Do Je-hae

Fund scandal expanding to involve ruling party politicians

North Korea

Does Kim's speech signal improvement in inter-Korean ties?

North Korean leader Kim Jong-un embraces a child during a performance to mark the 75th anniversary of the Workers' Party of Korea, Oct. 12. YonhapBy Do Je-hae North Korean leader Kim Jong-un's reference to South Korea during a commemorative speech for the 75th anniversary of the ruling Workers' Party of Korea (WPK), Saturday, is raising questions about the future of inter-Korean relations. Right after offering consolation to the pandemic-hit world, he said: “I also send this warm wish of mine to our beloved countrymen in the South, and hope that this health crisis will come to an end as early as possible and the day will come when the North and South take each other's hands again.” The local media has taken note of the unusually friendly tone of the message, coming on the heels of a latest inter-Korean conflict over the North's Sept. 22 shooting death of a South Korean official who crossed into North Korea's territorial waters. Experts are divided on what Kim's remarks could lead to in terms of inter-Korean relations. Some said that they could be a sign of the regime's s

Oct 12, 2020By Do Je-hae

Does Kim's speech signal improvement in inter-Korean ties?

Politics

Kim Jong-un cries during commemorative speech

North Korean leader Kim Jong-un becomes emotional and takes off his glasses to wipe away his tears during a speech at an event to mark the 75th anniversary of the founding of the Workers' Party of Korea, Saturday. YonhapEmotional speech shows depth of North Korean leader's agony amid national crisisBy Do Je-hae North Korean leader Kim Jong-un's speech last Saturday was quite different from previous occasions, according to experts, Sunday. Previously, Kim's speeches at large military parades have centered around cliched messages on flaunting its military might. But this time, he dedicated a huge part of the speech to messages specifically designed to sympathize with North Koreans. Experts say the unusual speech was aimed at engineering public support as the North Korean leader struggles to lead the country out of an unprecedented national crisis from the “three hardships” as mentioned in the speech ― international sanctions, the COVID-19 pandemic and natural disasters.He spent almost one third of the speech, given to mark the 75th anniversary of the ruling Workers' Party o

Oct 11, 2020By Do Je-hae

Kim Jong-un cries during commemorative speech

Foreign Affairs

Quadrilateral alliance and Korea

President Donald Trump stands on the Blue Room Balcony upon returning to the White House in Washington, D.C., Oct. 5, after leaving Walter Reed National Military Medical Center, in Bethesda, Md, where he received COVID-19 treatment. The Trump administration has defined China as its biggest threat and has raised the need for a multilateral security structure in the Asia-Pacific region to counter China. AP-YonhapUS effort to expand strategic group set to aggravate Korea's diplomatic dilemmaBy Do Je-hae U.S. Secretary of State Mike Pompeo visited Japan this week to participate in the second ministerial meeting of the Quadrilateral Security Dialogue, an informal strategic forum of the U.S. Japan, Australia and India known as the Quad.Despite the political uncertainties that have arisen from U.S. President Donald Trump's COVID-19 infection, Pompeo went ahead with the meeting as planned Oct. 6 with his counterparts ― Japan's Toshimitsu Motegi, India's Subrahmanyam Jaishankar, and Australia's Marise Payne. The U.S. secretary of state's visit to Japan was seen to reflect the importance Washi

Oct 9, 2020By Do Je-hae

Politics

Moon renews calls for ending Korean War

President Moon Jae-in delivers a speech to the Korea Society gala via a pre-recorded video, Thursday. The President again brought up the issue of declaring an end to the Korean War, following his message at the U.N. General Assembly last month. YonhapBy Do Je-hae President Moon Jae-in renewed his push for a declaration to end the 1950-53 Korean War during an online speech to the Korea Society, Thursday, although the same proposal made in a speech at the online United Nations General Assembly last month failed to capture attention either domestically or internationally.Following the North's shooting death of a South Korea official last month, the public has become critical of Moon's persistent focus on engagement with North Korea.But the President did not hesitate to again publicly propose the end-of-war declaration, the promise of which was one of the highlights of his first summit with North Korean leader Kim Jong-un at Panmunjeom in April 2017.During his speech to the society, Moon called on the U.S. to work toward declaring an end to the war. “I hope that our two countries c

Oct 8, 2020By Do Je-hae

Politics

Diplomat's defection to deal additional blow to Moon's North Korea policy

People watch a TV showing an image of Jo Song-gil, the North Korea's former ambassador to Italy, right, during a news program at the Seoul Railway Station in Seoul, South Korea, Wednesday. AP-YonhapBy Do Je-hae The alleged defection to South Korea of a ranking North Korean diplomat who went missing in 2018 during his tour of duty in Rome is raising concerns about its impact on inter-Korean relations, which have already hit an all-time low in recent months.According to a local broadcaster's report late Tuesday, Jo Song-gil, Pyongyang's former acting ambassador to Italy, entered South Korea in July 2019 and has settled here under the protection of the authorities. Rep. Ha Tae-keung of the main opposition People Power Party (PPP) who serves on the National Assembly Intelligence Committee, confirmed this in a Facebook post later in the day, while ruling Democratic Party of Korea Rep. Jeon Hae-cheol, the chief of the committee, acknowledged it Wednesday.The National Intelligence Service and other relevant organizations have refused to confirm Jo's entry into South Korea. However, the medi

Oct 7, 2020By Do Je-hae

Diplomat's defection to deal additional blow to Moon's North Korea policy

Foreign Affairs

Moon making full efforts for trade minister Yoo Myung-hee's WTO chief election

President Moon Jae-in speaks with Brazilian President Jair Bolsonaro, Monday, at Cheong Wa Dae to discuss Korea's bid for the WTO director-general. Moon has stressed in his phone conversations and letters to his counterparts that his trade minister Yoo Myung-hee is the most capable candidate to implement WTO reform and restore multilateral trading system. YonhapBy Do Je-hae President Moon Jae-in has been making every effort to convince the international community that Korea's first female Trade Minister Yoo Myung-hee is the right person to lead the World Trade Organization (WTO). To that end, Moon has engaged in active diplomacy through phone conversations with and letters to his counterparts around the world. Even during the Chuseok holidays last week, he spoke with German Chancellor Angela Merkel to seek the European nation's support for Yoo's bid to become the next WTO director-general. Right after the holiday, Moon talked on the phone with Brazilian President Jair Bolsonaro, Monday, with regard to Yoo's bid for the WTO election, which is expected to conclude in early Novembe

Oct 6, 2020By Do Je-hae

Moon making full efforts for trade minister Yoo Myung-hee's WTO chief election

Politics

Chances of ministerial reshuffle grow

President Moon Jae-in speaks during a meeting with his senior aides at Cheong Wa Dae, Monday. YonhapBy Do Je-hae The biggest keywords in Korean politics following the Chuseok holidays are “Cabinet reshuffle” that is purportedly to take place to enhance the mood in the troubled Moon Jae-in administration. Facing complex challenges to the economy and on North Korea, among other issues, President Moon is facing growing calls to replace select ministers to ensure more effective policy-making, thereby restoring public trust in his government and avoiding a lame-duck presidency.According to the latest surveys, the President has been losing support after the recent influence-peddling scandal involving Justice Minister Choo Mi-ae, which has cast strong doubts over Moon's drive for social justice, following allegations she facilitated special treatment for her son during his mandatory military service. Public sentiment has also turned increasingly negative after the President's weak message toward North Korea following the shooting death of a South Korean maritime official at the

Oct 5, 2020By Do Je-hae

Politics

Ministries remain apart over working group with US

Unification Minister Lee In-young answers questions during a session at the National Assembly, Sept. 29. He has stressed the need to revamp the Korea-U.S. working group. YonhapBy Do Je-hae Seoul is facing internal conflict over adjusting the Korea-U.S. consultation framework on coordinating North Korea policies.The Ministry of Unification and the Ministry of Foreign Affairs have begun discussions to reorganize the Korea-U.S. working group, according to Rep. Jeon Hae-cheol of the ruling Democratic Party of Korea (DPK), a member of the National Assembly Committee on Foreign Affairs and Unification, Tuesday. The Korea-U.S. working group was founded in 2018 for more effective bilateral discussions on primary issues related to security on the Korean Peninsula. But it has faced some criticism from supporters of the Moon Jae-in administration's pro-engagement policy on North Korea that it has prevented inter-Korean cooperation from moving forward.According to a statement from Jeon's office, the two ministries have been conducting preliminary talks on revamping the working group, starting wi

Sep 29, 2020By Do Je-hae

Ministries remain apart over working group with US

North Korean killing of South Korean official deepens internal division

North Korea

Moon criticized for subdued message toward North Korea

President Moon Jae-in speaks during a meeting with his senior aides at Cheong Wa Dae, Monday. YonhapBy Do Je-hae The opposition bloc and the public are becoming increasingly frustrated by President Moon Jae-in's subdued message toward Pyongyang following the suspected killing of a South Korean national by North Korean troops in the North's territorial waters. Critics say Moon, as head of state and therefore the person responsible for citizens' lives and security, should take a stronger stance toward the North instead of trying to play down the issue for fear of harming inter-Korean relations.The South Korean leader reiterated his desire to work with the North on a thorough investigation into the case during a weekly meeting with his senior aides at Cheong Wa Dae, Monday, six days after the incident. In particular, he underlined his appreciation for the apology from North Korean leader Kim Jong-un contained in a notice issued Sept. 25 by Pyongyang's United Front Department, which deals with inter-Korean relations. The notice arrived at Cheong Wa Dae just one day after President Moon,

Sep 28, 2020By Do Je-hae

Do Je-hae

Read more

Fund scandal expanding to involve ruling party politicians

Does Kim's speech signal improvement in inter-Korean ties?

Kim Jong-un cries during commemorative speech

Quadrilateral alliance and Korea

Moon renews calls for ending Korean War

Diplomat's defection to deal additional blow to Moon's North Korea policy

Moon making full efforts for trade minister Yoo Myung-hee's WTO chief election

Chances of ministerial reshuffle grow

Ministries remain apart over working group with US

Moon criticized for subdued message toward North Korea

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