South Korea - The Korea Times

Moon Jae-in less popular among those in 20s: survey

President Moon Jae-inBy Yi Whan-wooPresident Moon Jae-in is becoming unpopular among those in their 20s who are struggling to find full-time jobs and are annoyed with his labor policies aimed at helping irregular workers, according to a survey released Friday.Gallup Korea said Moon’s approval rating among those aged 20 to 29 was 41 percent, down from 53 percent a week earlier, in a survey conducted from June 23 to 25.It said 47 percent of the same age group disapproved of Moon’s performance this week. The figure was up by 15 percentage points. The respondents were among 1,001 people aged 18 or older. The overall disapproval rating was 39 percent, up from 35 percent last week. The pollster attributed Moon’s unpopularity among those in their 20s to Incheon International Airport upgrading its irregular workers to regular status on June 22.The measure was in line with Moon’s pledge for “zero irregular workers” to prevent employees from being mistreated at workplaces, including public firms.The young jobseekers argued that the measure was reverse discri

Jun 26, 2020By Yi Whan-woo

Moon Jae-in less popular among those in 20s: survey

Memorial for independence fighter

A citizen holds a flower in front of the tomb of Kim Koo, one of the nation's most respected independence fighters during Japan's colonial rule over the Korean peninsula from 1910 to 1945, paying tribute to him during a memorial service at Hyochang Park in Yongsan, Seoul, Friday, which marked the 71st anniversary of his assassination. Yonhap

Jun 26, 2020By Bahk Eun-ji

Moon strives to revive peace talks with North Korea

Honor guards carry caskets containing the remains of 147 South Korean soldiers killed during the Korean War, which were returned home by a ROK Air Force KC-330 aerial tanker, during a ceremony to mark the 70th anniversary of the 1950-53 conflict at Seoul Air Base in Seongnam, Gyeonggi Province, Thursday. The anniversary event was held to show respect for fallen troops and demonstrate Seoul's commitment to friendly cooperation with the 22 nations that fought alongside it under the United Nations flag against the invading North Korean army. / YonhapBy Do Je-haePresident Moon Jae-in has again extended an overture to North Korea in an effort to get soured inter-Korean relations back on track for peace talks. Marking the 70th anniversary of the Korean War, Thursday, Moon also urged North Korea to join efforts to achieve the “long-desired wish of 80 million Koreans” for peace and prosperity on the Korean Peninsula.His remarks come after tensions were escalated following the North's resumption of hostile rhetoric and activities toward the South, but subsided temporarily followin

Jun 25, 2020By Do Je-hae

Moon strives to revive peace talks with North Korea

Passage of 3rd extra budget unlikely this month

Rep. Joo Ho-young, floor leader of the main opposition United Future Party, is welcomed by fellow lawmakers at the National Assembly in Seoul, Thursday, after returning from a nine-day retreat at temples to protest the ruling Democratic Party of Korea's unilateral election of chiefs of six standing committees at the Assembly. Korea Times photo by Bae Woo-hanBy Jung Da-min It appears unlikely that the National Assembly will soon pass the bill on the 35.3 trillion won ($29.2 billion) third extra budget, designed to respond to the economic fallout from the COVID-19 pandemic, due to the continued conflict between ruling and opposition parties.While the ruling Democratic Party of Korea (DPK) and the government hope to see the bill passed before the end of June to provide timely support to financially strained people and businesses, the main opposition United Future Party (UFP) made it clear it would not cooperate with the DPK, in protest of the ruling party's unilateral formation of six standing committees.Since the launch of the 21st Assembly, the two major parties had been in a tug of w

Jun 25, 2020

Passage of 3rd extra budget unlikely this month

S. Korea widens capital gains taxes on stock investments

South Korea said Thursday it plans to revise a law to levy a capital gains tax on gains from stock investment beginning in 2023, while lowering a stock transaction tax. Korea Times fileSouth Korea on Thursday proposed expanding its capital gains taxes to include a larger number of affluent stock investors, in its push reduce inequality by levying more from the wealthy and less from general share trading.Starting 2023, taxes will be imposed on annual capital gains exceeding 20 million won ($16,627) for retail investors, finance minister Hong Nam-ki said in a policy meeting.That would affect about 300,000 people or the top 5% of all stock investors in Asia's fourth-largest economy, the finance ministry said in a statement.It would also mark a significant expansion of current rules as capital gains taxes are only applied to large shareholders with stakes exceeding 1% or 1 billion won ($831,373) of listed stocks.Currently, no retail investors of listed shares are subject to capital gains taxes unless they are classified as "large shareholders".About 95% of equity investors derive less th

Jun 25, 2020

S. Korea widens capital gains taxes on stock investments

Korea Times names Kim as new managing editor

Kim Jae-kyoungThe Korea Times appointed Kim Jae-kyoung, 48, as its new managing editor, Wednesday. Kim joined the newspaper in 2000 and has worked as editor of the finance desk since 2018. He was Asia Bureau Chief and Singapore correspondent from 2015 to 2018 covering the entire ASEAN region before becoming finance editor.He received a bachelor's degree at Sungkyunkwan University with a major in journalism and earned an MBA at the Schulich School of Business of York University in Canada.Regarding his role in the new post, Kim said that he would put a priority on turning the daily into the nation's most digitized English newspaper and best English content creator. He also aims to expand partnerships with overseas media.Former managing editor Shim Jae-yun has been named editorial writer.

Jun 24, 2020

Korea Times names Kim as new managing editor

70 years after the war, peace still elusive on Korean Peninsula

Visitors to the presidential office take photos, Sept. 9, 2018, at a special exhibition at Cheong Wa Dae to commemorate the inter-Korean summit a few months earlier on April 27./Courtesy of Cheong Wa DaeBy Do Je-hae The 1950-53 Korean War is still very much a factor in the lives of Koreans today, and peace remains an elusive goal as the two Koreas mark the 70th anniversary of the outbreak of the conflict. Since then the two Koreas have taken diverging paths, experiencing intermittent closeness during certain periods such as the liberal administrations of former Presidents Kim Dae-jung and Roh Moo-hyun, and the earlier phase of the Moon Jae-in presidency under an engagement-centric North Korea policy. One of the questions that is on the minds of many proponents for Korean peace is why the two countries, even after so many decades have passed, are not closer, despite various agreements for peace and reconciliation. As a “driver” in the Korean Peninsula's “peace process,” President Moon has exerted all-out efforts, but inter-Korean relations have plummeted recent

Jun 24, 2020By Do Je-hae

70 years after the war, peace still elusive on Korean Peninsula

South Korean trade minister announces bid to become next WTO chief

South Korean Trade Minister Yoo Myung-hee announces her bid to become the head of the World Trade Organization at Sejong Government Complex, June 24. YonhapSouth Korean Trade Minister Yoo Myung-hee on Wednesday announced her bid for the top job of the World Trade Organization (WTO), saying she would make her utmost efforts to reshape the final arbiter in trade disputes if she is elected. Yoo's bid comes as the WTO is mired in its biggest crisis since it was created in 1995 over growing uncertainties in global rules on trade between nations and fragile collaboration among member nations."I will vow to restore the WTO system that faces the biggest crisis since it was launched," Yoo told reporters.Since early this month, the WTO has started its procedure to pick a new head, as Brazil's Roberto Azevedo is set to step down in August, about a year before his term ends. As Yoo made her bid, she became the third South Korean to run for the top post of the Geneva-based trade body. Two South Koreans made unsuccessful bids in 1994 and 2012, respectively.So far, the WTO has received four candida

Jun 24, 2020

South Korean trade minister announces bid to become next WTO chief

Against Japan's distortion of history

Rep. Jeon Yong-gi of the ruling Democratic Party of Korea, second from right, submits a resolution at the National Assembly Secretariat, Tuesday, to condemn Japan's distortion of history regarding its wartime atrocities at Hashima, an island where hundreds of Koreans were forced to work during World War II. Japan recently opened an information center about its 23 UNESCO World Heritage sites including the island, but failed to acknowledge its use of forced labor despite its earlier promise to do so. Yonhap

Jun 23, 2020

Teenagers drive fossil fuel divestment movement

Members of Youth4ClimateAction Korea stage a rally outside the Seoul Metropolitan Education Office asking the office to join the fossil fuel divestment movement in May 2019. / Courtesy of Youth4ClimateActionBy Kim Se-jeongYouth4ClimateAction Korea is a group inspired by the Swedish teen environmental activist Greta Thunberg, famous for school climate strikes. The group's 60 members are currently engaged in a fossil fuel divestment movement asking 17 education offices across the nation to select partner banks that don't invest in coal-fired power plant projects.“Education offices are responsible for nurturing the young to become responsible members of society. The current climate crisis can deprive us of the right to live in a sound environment,” Kim Bo-rim, a member of the group, told The Korea Times during a recent interview. “Currently, all banks that education offices in Korea work with invest money inside and outside Korea in coal-fired power plant projects, one of the main culprits of global warming. We want the education offices to change for the better and jo

Jun 23, 2020By Kim Se-jeong

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