South Korea - The Korea Times

Prime Minister urges Nat'l Assembly to pass budget-related bills

Prime Minister Lee Nak-yon speaks during a policy coordination meeting at the Government Complex in central Seoul, Thursday. YonhapBy Park Ji-wonPrime Minister Lee Nak-yon urged the National Assembly to pass budget-related and bread-and-butter bills swiftly amid a political stalemate between parties over the passage of reform bills.“I am making a desperate call for the National Assembly to swiftly pass the supplementary budget bills and bills on the economy and people's livelihoods,” Lee said during a regular policy coordination meeting at the Government Complex in central Seoul, Thursday.Lee pointed out that, under constitutional law, the Assembly should have passed the budget bill and budget-related bill by Dec. 2. But the budget proposal was passed on Dec. 10 while 22 relevant bills remain “up in the air.” “The government cannot wait any longer. In order to work properly from the beginning of 2020, the budget should be passed and its implementation plan should be mapped out by now.” He further warned that if this “abnormal situation”

Dec 19, 2019By Park Ji-won

Prime Minister urges Nat'l Assembly to pass budget-related bills

Moon, Xi to hold summit in Beijing on Dec. 23

Chinese President Xi Jinping Reuters-YonhapBy Do Je-hae President Moon Jae-in and Chinese President Xi Jinping will hold a summit meeting in Beijing on Dec. 23, according to Cheong Wa Dae, Thursday.Moon will arrive in Beijing on the morning of Dec. 23 on his way to Chengdu, China, for the Korea-Japan-China summit on Dec. 24. He will also meet separately with Chinese Premier Li Keqiang. The upcoming Korea-China summit is the two leaders' first meeting since the G20 summit in Osaka, Japan, in June. Their last meeting in Beijing took place in December 2017 during Moon's state visit to China. The Moon-Xi summit is drawing keen attention as it comes amid rising tension on the Korean Peninsula ahead of North Korea's self-imposed deadline for denuclearization talks with the U.S. North Korea has snubbed U.S. calls to return to negotiations, resulting in mounting speculation that a long-range missile test could be Pyongyang's next step. Under these circumstances, Moon is expected to seek Xi's support in resuscitating the dialogue between North Korea and the United States. “During the Ko

Dec 19, 2019By Do Je-hae

Moon, Xi to hold summit in Beijing on Dec. 23

Gov't to focus on revitalizing investments

Economy and Finance Minister Hong Nam-ki speaks during a press briefing at the Government Complex in Gwanghwamun, Seoul, Thursday. YonhapKorean economy forecast to grow 2.4% in 2020By Lee Kyung-min The government will place top priority on rehabilitating sluggish investment in 2020 by inducing 100 trillion won ($85.9 billion) from the private and public sectors, the Ministry of Economy and Finance said Thursday.It also plans to spend 240.5 trillion won to support export firms reeling from a series of trade conflicts ― the U.S.-China trade dispute and Korea's feud with Japan ― amid a global slowdown.These are part of the 2020 economic outlook and policy directions the finance ministry unveiled Thursday. “The government will mobilize the utmost efforts to find turnaround momentum for economic recovery in the first half of 2020 via investment in both the public and private sectors,” Finance Minister Hong Nam-ki said during a press briefing at the Government Complex in Gwanghwamun, Seoul. “The economy has undoubtedly been tough in 2019, but we expect a substantial turna

Dec 19, 2019By Lee Kyung-min

Gov't to focus on revitalizing investments

Former U.S. envoy awarded for peacemaking on Korean Peninsula

Rev. Dr. James T. Laney, who served as U.S. ambassador to Korea from 1993 until 1996, receives the World Methodist Peace Award during a ceremony in Atlanta last month. Courtesy of World Methodist CouncilBy Do Je-haeRev. Dr. James T. Laney, who served as U.S. ambassador to Korea from 1993 until 1996 during the Clinton administration, has received the 2019 World Methodist Peace Award. The World Methodist Council, an association of Methodist churches in more than 130 countries, has recognized individuals or groups for their special contribution to promoting world peace since 1977. Former recipients have included leaders such as Jimmy Carter, Mikhail Gorbachev and Nelson Mandela.The council and the United Methodist Church's Global Ministries held an award ceremony for Dr. Laney last month in Atlanta to honor his lifelong commitment to peace on the Korean Peninsula as a missionary, educator and diplomat. "Laney's approach to diplomacy and foreign policy emphasized the search for mutual understanding, empathy and reciprocity within relationships,” the United Methodist Church's Global

Dec 18, 2019By Do Je-hae

Former U.S. envoy awarded for peacemaking on Korean Peninsula

Prosecution searches PM office

Investigators leave the Prime Minister's Office in Seoul, Wednesday, after searching and confiscating documents related to Cheong Wa Dae's alleged intervention in last year's local elections. An official of the office, surnamed Moon who was a former Cheong Wa Dae staffer, is known to have compiled documents on bribery allegations of former Ulsan Mayor Kim Gi-hyeon's confidants in October 2017 based on tips from former Ulsan Vice Mayor of Economic Affairs Song Byung-gi. / Yonhap

Dec 18, 2019By Kim Jae-heun

Speaker's bill on forced labor faces opposition from lawmakers

National Assembly Speaker Moon Hee-sang participates in a meeting with floor leaders at his office at the National Assembly, Dec. 8. Korea Times photo by Hong In-kiBy Park Ji-wonContentious bills by National Assembly Speaker Moon Hee-sang on compensating the surviving South Korean victims of wartime forced labor were proposed Wednesday.However, Moon has been having a hard time gathering signatures to submit the proposals because several other lawmakers declined to join the move amid criticism from civic activists claiming they don't mandate legal responsibilities for the Japanese government over its past wrongdoings against Koreans during World War II.Sources at the National Assembly said at least 10 lawmakers declined Moon's request to sign the draft bill as they are worried about fierce backlash from civic activists who are ready to step up criticism against the lawmakers for approving the bill.As of Wednesday, lawmakers including Reps. Kang Chang-il, head of the Korea-Japan Parliamentarians’ Union and a member the ruling Democratic Party of Korea and Chun Jung-bae, an indepe

Dec 18, 2019By Park Ji-won

Speaker's bill on forced labor faces opposition from lawmakers

Former Assembly speaker named Prime Minister

Prime Minister nominee Chung Sye-kyun speaks at the National Assembly, Tuesday. YonhapBy Do Je-hae President Moon Jae-in has picked ruling party heavyweight Chung Sye-kyun to replace Lee Nak-yon as prime minister. Chung previously served as industry minister during the 2003-08 Roh Moo-hyun administration and has served six terms at the National Assembly before building up extensive corporate experience. He served as National Assembly speaker from June 2016 to May 2018. These combined experiences make him a timely choice to lead the Cabinet, the President said Monday. Moon made a rare appearance at Cheong Wa Dae's media center and personally explained the reason for his choice for the new PM after weeks of speculation about the replacement for Prime Minister Lee. The popular prime minister is expected to return to politics ahead of the April 2020 general elections. “I want to explain directly to the people about the nomination for the next prime minister,” Moon said. “The government has so far exerted special efforts to get rid of outdated systems in our society and

Dec 17, 2019By Do Je-hae

Former Assembly speaker named Prime Minister

Joint partnership

Korean Air CEO Woo Ki-hong, left, shakes hands with Hyundai Card Vice Chairman Chung Tae-young after signing a memorandum of understanding to issue a Korean Air-labeled credit card, Dec. 17. Under the agreement, Hyundai Card will start issuing the private label card in late March. Courtesy of Hyundai Card

Dec 17, 2019By Lee Kyung-min

Former National Assembly speaker tapped as prime minister

Chung Sye-kyunPresident Moon Jae-in announced his nomination of Chung Sye-kyun, a six-term ruling party lawmaker and former National Assembly speaker, as new prime minister on Tuesday.If appointed after a parliamentary confirmation hearing, Chung will be South Korea's first prime minister who served as a National Assembly speaker.He's known for experience and expertise in economic affairs, having worked at a local conglomerate for 17 years ahead of his career as a politician. He was an executive at Ssangyong Group in the early 1990s.Moon's choice reflects his strong push for revitalizing the economy in the latter half of his single five-year presidency. The president also needs a figure who can help Cheong Wa Dae's efforts to reach out to opposition parties amid ferocious partisan strife.Moon made the announcement at the Chunchugwan press center of the presidential compound, as he did for the pick of the outgoing prime minister, Lee Nak-yon, two and a half years earlier.The president stressed that his government has endeavored to reform the outdated system of South Korean society to

Dec 17, 2019

Former National Assembly speaker tapped as prime minister

US calls for meeting with NK in South

U.S. Special Representative for North Korea Stephen Biegun, second from right, speaks as his South Korean counterpart Lee Do-hoon, right, listens during a media briefing at the foreign ministry in Seoul, Monday. AP-YonhapBy Kim Yoo-chul, Jhoo Dong-chanAs the end-of-year deadline set by North Korea on the denuclearization talks is approaching, U.S. special envoy on North Korea Stephen Biegun called for a meeting with North Korea. Pyongyang has threatened to seek a “new way” if Washington doesn't drop its economic sanctions and pressure.“Let me speak directly to our counterparts in North Korea. It is time for us to do our jobs. Let's get this done. We are here, and you know how to reach us,” Biegun said in a news conference after holding a meeting with his official South Korean counterpart Lee Do-hoon at the headquarters of the Ministry of Foreign Affairs in Seoul, Monday.Biegun, who arrived in Seoul, Sunday evening, leaves Tuesday afternoon for a meeting with Japanese officials on North Korean denuclearization. Cheong Wa Dae sources told The Korea Times that U.

Dec 16, 2019By Kim Yoo-chul

Politics