South Korea - The Korea Times

Moon urges all-out efforts to minimize virus impact

President Moon Jae-in instructed his economy team Monday to take "strong" measures to minimize the effects of the coronavirus outbreak and create "tangible changes" in the overall economy and people's livelihoods this year.He warned of the possibility that the slump in South Korea's economy will be prolonged, saying economic damage from the ongoing COVID-19 epidemic is worse than that resulting from MERS in 2015.If that is the case, it would wreak havoc not just on the economy of Asia's fourth-biggest economy but also on people's lives, Moon stressed, speaking at the outset of a Cheong Wa Dae session to receive briefings on key policy plans for this year from four economy-related ministries."Literally, it's an emergency and a grave situation," he said in remarks that were broadcast live.South Korea's economy has suffered, he pointed out, as domestic consumption and people's leisure activities have diminished due to "overblown fear and anxiety" over the novel coronavirus, which originated in China."It is time to focus all-out efforts on revitalizing the economy, while maintaining the

Feb 17, 2020

Korean economy feared to contract in Q1

Cheong Wa Dae striving to resuscitate denuke talks

Cheong Wa Dae officials have recently visited the U.S. for consultations on North Korea and other bilateral issues. YonhapBy Do Je-hae President Moon Jae-in is trying to resuscitate the denuclearization talks between North Korea and the United States, while concurrently gain support for his push to improve inter-Korean relations, despite mounting challenges to his “peace process.”President Donald Trump has shown little interest in restarting talks with the North in an election year, and the absence of any reference to Pyongyang in his State of the Union address, unlike in previous years, was seen as a signal of a shift in priorities. Recently, Trump also told his advisers that he does not want another a summit with North Korean leader Kim Jong-un before the November presidential election. The problem for Cheong Wa Dae is that Trump's dwindling enthusiasm for diplomacy with North Korea is not conducive to Moon's policy centering on engagement. Since the beginning of the year, Moon has declared his government will seek to improve inter-Korean relations. Latest reports state

Feb 16, 2020By Do Je-hae

Cheong Wa Dae striving to resuscitate denuke talks

Success of conservative merger still unclear

Main opposition Liberty Korea Party Chairman Hwang Kyo-ahn, left, poses with a barber during his visit to Jongno District, Sunday, where he will be running as an April 15 general election candidate. Yonhap By Yi Whan-wooWith three conservative and center-right parties to partner up, whether they can woo their targeted voters in the April 15 general election was called into question, Monday.The three are the main opposition Liberty Korea Party (LKP), the New Conservative Party ― a breakaway group from the minor Bareunmirae Party ― and Onward for Future 4.0 consisting of independent lawmakers who were formerly LKP or Bareunmirae Party members.This will be the first time in three years that a joint conservative bloc will be formed under the Party for Future Unification; a rough English translation of the party's Korean name.The preparatory committee for the merging of parties expects it will help in reforming the conservative parties' images tainted by the ousting of f

Feb 16, 2020By Yi Whan-woo

Success of conservative merger still unclear

Ruling party slammed for suppressing critical opinion

Democratic Party of Korea Chairman Lee Hae-chan attends a party meeting at the National Assembly, Seoul, Friday. The party earlier filed a complaint with the prosecution against a professor for writing a column critical of the ruling bloc, but withdrew the move on Friday following criticism from the political circle and civic groups. YonhapBy Kim RahnThe ruling Democratic Party of Korea (DPK) has faced harsh criticism for trying to gag critics by filing a complaint with the prosecution against a professor and a local daily for writing a column critical of the ruling bloc.It later withdrew the complaint, but condemnation continues that the “democratic” party is suppressing the freedom of expression ― a value which the liberal bloc has long fought for.The Kyunghyang Shinmun carried a column by research professor Lim Mi-ri from Korea University's Center for Korean History on Jan. 28. In the column titled “Except the DPK,” she denounced the ruling bloc for “being immersed in its own interests rather than people's desires” despite the fact that the Moon

Feb 14, 2020By Kim Rahn

Ruling party slammed for suppressing critical opinion

Preparations underway for Korea-Russia summit

2017 Korea-Russia summit Korea Times fileBy Do Je-hae President Moon Jae-in is likely to hold a summit with Russian President Vladimir Putin as early as the second quarter of this year, according to a key Cheong Wa Dae official, Wednesday.“This year is the 30th anniversary of the establishment of Korea-Russia relations. There are some bilateral issues that need to be discussed, such as Putin’s visit to Korea,” Kim Hyon-chong, second deputy director of the presidential National Security Office (NSO), said at an airport in Moscow, Wednesday.“President Putin will be visiting Korea and we need to talk some more about the details of the visit.”The last time the two leaders met was at the G20 Summit in Osaka, Japan, in June 2019. At the time, Moon invited Putin to visit Korea.Quoting a ruling party official, a local daily reported that the Russian leader’s visit may take place in May. Cheong Wa Dae is eyeing the visit as an opportunity to advance one of Moon’s key diplomatic strategies called the New Northern Policy, intended to strengthen rel

Feb 13, 2020By Do Je-hae

Preparations underway for Korea-Russia summit

Moon thanks Samsung, Hyundai for supporting virus-hit suppliers

President Moon Jae-in, left, shakes hands with Samsung Electronics Vice Chairman Lee Jae-yong before the start of a meeting with leaders of the country's leading businesses at the Korea Chamber of Commerce and Industry (KCCI) headquarters, downtown Seoul, Thursday. YonhapBy Kim Yoo-chulPresident Moon Jae-in thanked the country’s top-tier businesses including Samsung, Hyundai and Lotte for assisting coronavirus-hit domestic suppliers, saying this would help local small and medium-sized enterprises (SMEs) reduce any financial risks, as the 2019-nCoV virus outbreak spreads.“I appreciate your efforts to encourage local SMEs by providing them with necessary financial assistance as the coronavirus spreads,” Moon said at the start of a session with major business leaders at the Korea Chamber of Commerce and Industry (KCCI) headquarters in downtown Seoul. Cheong Wa Dae press pool reports said “This is a desired model for joint growth with SMEs. Samsung and Hyundai have decided to provide them with some trillion won-level emergency assistance. It’s a big plus for

Feb 13, 2020By Kim Yoo-chul

Moon thanks Samsung, Hyundai for supporting virus-hit suppliers

President visits Namdeamun Market

President Moon Jae-in buys tteok, or rice cake, during his visit to Namdaemun Market in Seoul, Wednesday. He made a visit to the traditional market to show support for merchants, who are suffering difficulties due to a drop in the number of customers following the coronavirus outbreak. The President also wished to demonstrate the government's commitment to all-out efforts to revitalize the economy. / Joint press corps

Feb 12, 2020By Kang Seung-woo

Ruling party to introduce unemployment insurance systems for artists

Rep. Cho Jeong-sik of the ruling Democratic Party of Korea announces the party's pledge for the April 15 general election to promote the country's culture and arts during a press conference at the National Assembly in Seoul, Wednesday. The party's pledge came as the nation is still celebrating the Oscars success of director Bong Joon-ho's movie “Parasite.” YonhapBy Jung Da-min The ruling Democratic Party of Korea (DPK) has pledged to introduce unemployment insurance for artists so they can continue their work without having to worry about financial constraints. The decision comes hot on the heels of Bong Joon-ho's recent success at the Oscars for “Parasite”.Financial uncertainty is a reality artists ― especially freelancers ― are faced with. Bong himself once said that he had suffered serious financial hardship until the release of his 2003 hit film “Memories of Murder,” with his college friends bringing rice to him and his wife.The DPK said it would introduce a Korean version of “intermittent,” a French unemployment insurance system fo

Feb 12, 2020

Why some right-wing politicians aren't thrilled about success of 'Parasite'

LKP trying to be parasitic on 'Parasite'

Director Bong Joon-ho reacts with CJ Group Vice Chairwoman Lee Mi-kyung and cast and crew after winning the Oscar for the Best Motion Picture for “Parasite” during the Academy Awards at the Dolby Theater in Hollywood, Calif., Feb. 9. EPA-YonhapBy Kim RahnFor politicians whose success depends on how much they remain in the public eye, it seems only natural for them to take advantage of current social trends. The recent success of Bong Joon-ho's “Parasite” at the Academy Awards is no exception. Many politicians are already using it as a platform to market themselves.Such moves by members of the main opposition Liberty Korea Party (LKP), however, are drawing criticism, because the party's predecessor, the Saenuri Party and its leader, former President Park Geun-hye, used to suppress Bong and the film's investor and distributor CJ ENM for making films that they did not agree with.Rep. Khang Hyo-shang of the LKP, who represents a constituency in Daegu, said Tuesday that he would set up a “Bong Joon-ho Film Museum” in Duryu Park. Bong is from Daegu and a

Feb 12, 2020By Kim Rahn

LKP trying to be parasitic on 'Parasite'

Why some right-wing politicians aren't thrilled about success of 'Parasite'

Professor named vice chairman of job creation committee

Kim Yong-ki, vice chairman of the presidential committee for job creation Courtesy of Cheong Wa DaeBy Do Je-hae Cheong Wa Dae has appointed officials to two posts in charge of job creation and intellectual property rights.Kim Yong-ki, a former journalist at Dong-A Ilbo, was named as vice chairman of the presidential committee for job creation.“Kim has served at university and private economic research institutes and is an economic scholar who has conducted in-depth research in the areas of finance, corporate policy and international trade. With his extensive expertise and experience in shaping the Moon administration's job policies, we expect that he will make contributions to achieving an inclusive economy where jobs, growth and distribution form a virtuous cycle,” presidential spokesperson Kang Min-seok said in a statement on Feb. 10. Kim has taught at Ajou University and previously served at the Samsung Economic Research Institute. He also served at a presidential committee on policy planning where he led a secretariat for job creation. He has a Ph.D. from the London S

Feb 12, 2020By Do Je-hae

Politics