Opinion - The Korea Times

ED Iran's self-defeating Hormuz toll gamble

Iran is attempting to seek profit from the Strait of Hormuz amid its conflict with the United States and Israel. This is a misguided strategy — one that risks further isolating the country while adding strain to global supply chains. Tehran should reconsider, as the nation stands to lose far more than it could gain from imposing transit fees. On Tuesday, Iran’s parliament approved a plan requiring vessels passing through the Strait of Hormuz to pay tolls. From Iran’s perspective, the move may appear to be double-edged: generating revenue for a war-strained economy while using control over a critical maritime chokepoint as leverage against its adversaries and their allies. The measure includes provisions to block ships linked to the United States and Israel, as well as to deny passage to vessels from countries participating in sanctions against Iran. Yet rather than strengthening Iran’s position, such actions are more likely to deepen its economic and diplomatic isolation. First and foremost, Iran’s unilateral move runs counter to the principle of freedom of navigation. Under th

Apr 1, 2026

[ED] Iran's self-defeating Hormuz toll gamble

ED Macron's belated visit to Seoul

French President Emmanuel Macron’s upcoming visit to Korea, his first since taking office in 2017, has sparked a sense of unease in Seoul. The timing alone invites scrutiny. Nearly nine years into his presidency, Macron is only now making his inaugural trip to a country that has emerged as a major economic and technological power. Compounding the perception of slight, his visit follows an official trip to Japan, a country Paris has repeatedly described as an “exceptional partner.” Such reactions in Korea are neither surprising nor unwarranted. Diplomacy is, at its core, a language of symbols. State visits are not merely ceremonial; they signal priorities, hierarchies and strategic intent. In that sense, the long delay before Macron’s visit can reasonably be interpreted as evidence that France has not fully recognized the rapid rise in Korea’s global stature. Yet to reduce the issue to a matter of preference — France favoring Japan over Korea — would be an oversimplification. France and Japan have, over decades, built a dense web of institutionalized cooperation spanning s

Mar 31, 2026

ED Iran must step back from brink

Recent remarks by U.S. President Donald Trump suggesting that a deal with Iran could be reached in the near term have injected a note of cautious optimism into an otherwise volatile geopolitical landscape. His additional claim that Iran may allow a number of oil tankers to pass through the Strait of Hormuz hints that both sides could be using heightened tensions as leverage in ongoing negotiations. Yet such signals, while welcome, should not obscure the reality: the situation remains deeply unstable and the risks of escalation are substantial. Despite official statements from Washington denying plans for a ground invasion, the steady buildup of U.S. forces in the Middle East tells a more complicated story. Thousands of troops have already been deployed to the region, with reports of further reinforcements under consideration. This growing military presence, regardless of stated intent, contributes to an atmosphere of confrontation that increases the likelihood of miscalculation. Compounding these tensions is the involvement of the Houthis, whose actions have expanded the scope of the c

Mar 30, 2026

ED Korea's future hinges on energy security

Unlike previous Middle East conflicts, the current war in Iran is no longer a distant concern for countries like Korea that rely heavily on imported oil to sustain their economies. Just a month after the U.S.-Israeli strikes began on Iran, Korea is already feeling the strain of volatile oil prices. Iran’s selective attacks on ships passing through the Strait of Hormuz — which accounts for around 20 percent of global crude oil transit — along with the resulting disruptions to global supply chains, have begun to shake the world economy. The situation is likely to deteriorate further as Tehran-backed Houthi rebels in Yemen have joined Iran in the conflict against the U.S. and Israel. Last week, the Houthis launched a barrage of missiles targeting what they described as Israel’s “sensitive military facilities.” The involvement of the Yemeni rebels raises serious concerns about global supply chains, making further disruptions increasingly likely. The Houthis have a track record of blocking shipping routes in the Red Sea during Yemen’s civil war, and they may attempt similar ac

Mar 30, 2026

[ED] Korea's future hinges on energy security

ED A wake-up call from Hormuz

One month into the U.S.-Israel war with Iran, what began as a swift, high-tech campaign has hardened into a dangerous stalemate with global consequences. The most decisive battlefield is no longer in the skies over Iran or in covert operations on the ground, but in the narrow waters of the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply normally flows. Today, that artery is constricted and the global economy is feeling the shock. Following joint U.S. and Israeli strikes in late February, Iran responded asymmetrically, leveraging its geographic advantage to disrupt maritime traffic. Tanker movements stopped, shipping firms halted operations and oil prices surged past $120 per barrel at their peak. The consequences have been immediate and far-reaching: inflationary pressures are mounting globally, supply chains are tightening and energy-importing economies, especially in Asia, are under acute strain. Yet the deeper failure is strategic. Washington’s early confidence that precision strikes could quickly neutralize Tehran’s leadership and force capitulatio

Mar 29, 2026

ED GM’s $600 mil. investment

General Motors’ decision to invest an additional $600 million in its Korean operations carries significance well beyond the headline figure. At a time when persistent speculation about a potential withdrawal has cast a long shadow over GM Korea, this move serves as a clear signal that the company is reinforcing its commitment to Korea as a critical pillar of its global manufacturing network. The importance of this investment lies not only in its scale, but in what it represents. By channeling funds into upgrading production facilities and enhancing safety infrastructure, GM is doubling down on the competitiveness of its Korean plants. These are not the actions of a company preparing to exit a market, but rather reflect a long-term vision centered on efficiency, quality and global integration. Korea’s role in GM’s global strategy helps explain this decision. The country has evolved into a key production hub for compact SUVs, particularly for export to North America. Models such as the Chevrolet Trax Crossover and Trailblazer have demonstrated strong performance abroad, underscorin

Mar 26, 2026

ED Open Strait of Hormuz now

The world’s most critical maritime chokepoint is at the center of a geopolitical crisis. Reports that the U.S. has presented Iran with a sweeping 15-point framework for ending hostilities — while simultaneously exploring a one-month ceasefire — underscore both the urgency and fragility of the current moment. At the same time, Tehran’s move to allow selective passage through the Strait of Hormuz offers a partial reprieve, but not the stability the global economy desperately needs. The Strait of Hormuz is not merely a regional concern, but a global lifeline. A substantial share of the world’s oil supply transits this narrow corridor each day. Any disruption, whether through outright closure or conditional access, reverberates instantly across energy markets, supply chains and ultimately consumer prices worldwide. Even now, uncertainty surrounding maritime insurance, shipping schedules and naval security is exerting upward pressure on costs and eroding confidence. A “selective access” regime, in which passage depends on political alignment or prior coordination, risks insti

Mar 25, 2026

ED DPK's majority push

With some two months left until the June 3 local elections, the main opposition People Power Party (PPP) continues to dwell in chaos, with friction over nominations. In contrast, the ruling Democratic Party of Korea (DPK) has been moving speedily to bring about drastic changes in less than a year. Controversial laws to revamp the prosecution and the judiciary have passed through the National Assembly. Notably, the passage of an act separating the duties of indictment from investigation will effectively replace what Korea used to know as the prosecution in October, while the so-called "law distortion" bill calls for more accountability for prosecutors and judges. Such swift approval of reform-oriented bills is possible because the DPK holds a majority in the National Assembly, with 161 seats against the PPP's 107. The DPK seeks to press that advantage even further, and have its legislators take the helm at all 17 parliamentary standing committees in the second half of the National Assembly, which begins May 30. Currently, 10 of the 17 are held by the DPK and seven by the PPP. Rep. Jung

Mar 25, 2026

ED Next BOK chief must find balance

Shin Hyun-song, the former head of the Bank for International Settlements' Monetary and Economic Department, has been tapped as the next leader for Korea's central bank. Shin, 67, will soon undergo a largely pro forma parliamentary hearing to confirm his appointment. Once approved, he is expected to take the helm at the Bank of Korea (BOK) after incumbent Gov. Rhee Chang-yong ends his four-year term on April 20. Shin is a noted macroeconomist who earned his Ph.D. from Oxford and is also a purported Nobel Prize nominee. He has had an illustrious career, famously forecasting the 2008 global financial crisis at the 2006 annual International Monetary Fund (IMF) conference. In 2005 he served as a resident scholar at the IMF, and in 2006 he worked at the Federal Reserve Bank of New York. He has also taught at top foreign universities such as Oxford and Princeton. Shin's career and expertise befit his new station at the BOK, as the Korean economy has grown leaps and bounds to rank as Asia's fourth-largest. Korea is a well-regarded manufacturing and technology hub. Even amid deep geopolitical

Mar 24, 2026

ED Inconvenient truth behind BTS comeback show

The BTS comeback show on Saturday was nothing short of spectacular. It was, by any standard, a resounding success. The glitz and glamour of the K-pop superstars lit up the night at Seoul’s Gwanghwamun Square. Livestreamed on Netflix to viewers in some 190 countries, the seven picture-perfect musicians — now mostly in their 30s — demonstrated why they are regarded as global cultural icons. It was hard to believe that "BTS THE COMEBACK LIVE: ARIRANG" marked the group's first full-member performance in over three years, following a hiatus for mandatory military service. The show was that seamless, that flawless. Its new album, “ARIRANG,” quickly swept global music charts — an achievement well deserved. Yet there is an inconvenient truth about the event, one that has nothing to do with BTS’ performance, but rather with the venue itself. Was Gwanghwamun Square the right place to host such a massive global concert? Perhaps not. The concert took place in a bustling urban space surrounded by royal palaces, hotels, modern buildings and major subway stations. This rare coexistence of

Mar 23, 2026

Editorial