South Korea - The Korea Times

Moon hints at possible slowdown of minimum wage hikes

President Moon Jae-in squints his eyes during an extended meeting of economy-related ministers at Cheong Wa Dae, Monday. YonhapPresident Moon Jae-in on Monday indicated that his government may slow down the pace of legal minimum wage hikes given the strong backlash from businesses amid a sluggish economy."It is important that new economic policies such as the minimum wage hike and workweek cut are pursued under a general consensus based on the tolerance and harmony of interested parties," Moon said during an extended meeting of economy-related ministers. "If necessary, we need to devise ways to make adjustments." The meeting was the first of its kind under Moon's presidency.He said the same thing applies to other key economic policies, calling on his officials be cautious against their possible adverse repercussions on society. Raising the minimum hourly rate is one of Moon's core economic initiatives. The government has decided on a 10.9 percent raise to 8,350 won ($7.4) per hour for next year and been pushing to increase the threshold to 10,000 won by 2020. But there have been grow

Dec 17, 2018

Moon hints at possible slowdown of minimum wage hikes

S. Korea's economy to grow 2.6 pct-2.7 pct in 2019: gov't

64.1% against Moon: Why young men turn against President?

President Moon Jae-in Korea Times filePresident Moon Jae-in's approval rating fell last week after a slight gain a week earlier, due largely to growing dissatisfaction among younger men over his policies, including introducing alternatives to mandatory military service, a poll showed Monday. The approval rating came to 48.5 percent last week, down from 49.5 percent in the previous week, according to a Realmeter survey conducted between Dec. 10-14 on 2,509 people aged over 19. Disapproval rating stood at 46.8 percent, up 1.6 percentage points from a week earlier. The approval rating among men in their 20s recorded 29.4 percent, the lowest across all age groups regardless of the gender of the respondents. Their disapproval rating reached the highest of 64.1 percent. The women in their 20s, in contrast, retained their support for Moon with a rating of 63.5 percent, highest in all age groups. Realmeter said the result reflects that younger men, who used to be considered Moon's core supporters, are no longer in the category and may have turned away from him. "The recent moves toward alter

Dec 17, 2018

64.1% against Moon: Why young men turn against President?

Satirical posters on Moon cover campuses

Park loyalists sacked as LKP branch heads

Jun Joo-hye, a member of the main opposition Liberty Korea Party's special committee on organization reform under the party's reform committee, briefs the committee's activities at the National Assembly, Friday. / YonhapBy Park Ji-won The largest opposition, Liberty Korea Party (LKP)'s interim leadership has evicted 21 incumbent lawmakers, including some loyalists of former President Park Geun-hye, from key party posts as part of reform measures.The LKP's reform committee announced Saturday a list of 112 party members who are considered disqualified from the positions of branch chiefs who can influence nominations of candidates for local councils. The list includes 21 incumbent lawmakers including Kim Moo-sung, and Choi Kyung-whan and Hong Moon-jong, loyalists of launched former President Park Geun-hye. The LKP will replace 79 chiefs out of 253 at local branches by the middle of January.Jun Joo-hye, an organization reform committee member outlined on Friday the criteria for deciding which members will be disqualified. “The first criteria is to ask for the accountability of the

Dec 16, 2018By Park Ji-won

Park loyalists sacked as LKP branch heads

Parties agree on electoral reform next month

Love temperature

Pedestrians walk past a giant thermometer set up by the Community Chest of Korea, a charity group, at Gwanghwamun Square in central Seoul, Sunday. The temperature reading indicates the amount of money raised for the underprivileged. / Yonhap

Dec 16, 2018By Kim Jae-heun

Defense cost talks to be extended into next year

A civic group protests at Gwanghwamun Square in central Seoul, Nov. 13, against Washington's call for South Korea to pay more for the stationing of U.S. troops here. / Korea Times file By Kim Bo-eunDifferences remain large between South Korea and the U.S. on how much the former will pay to keep 28,500 U.S. troops stationed here.The two sides met in Seoul last week for what was hoped would be a final round of talks for the 10th Special Measures Agreement (SMA) on the cost sharing for keeping the USFK here, but failed to reach an agreement.They still remain apart on the total amount that South Korea should pay, the growth rate and the expiration date of the new deal. A report by the Wall Street Journal stated that U.S. President Donald Trump called for South Korea to take 150 percent of the amount it is paying at present. Under the current agreement, Seoul paid a total of 960 billion won ($846 million) this year.South Korea is cited to pay about half the costs of keep

Dec 16, 2018By Kim Bo-eun

Defense cost talks to be extended into next year

Parties agree on electoral reform next month

Rep. Sim Sang-jeung, chairwoman of the political reform committee, speaks during a press conference on electoral reform at the National Assembly, Sunday. On Saturday, the main five political parties agreed to pass a related bill on the proportional representation system by January while the committee chief pledged to come up with the proposal this month. / YonhapBy Park Ji-wonThe five major political parties agreed to introduce a new proportional representation system by the end of January in a meeting of their floor leaders, Saturday. The National Assembly Political Reform Committee welcomed their decision, with Chairwoman Rep. Sim Sang-jeung of the Justice Party pledging to come up with a related proposal this month.In line with the decision, lawmakers from the three minor parties stopped their hunger strike and agreed to participate in drawing up the proposed bill.After the meeting, the floor leaders of the ruling Democratic Party of Korea (DPK), the main opposition Liberty Korea Party (LKP) and three minor opposition parties said they had agreed to pass a bill on electoral reform

Dec 16, 2018By Park Ji-won

Parties agree on electoral reform next month

Park loyalists sacked as LKP branch heads

NK may use summit for sanctions relief

President Moon Jae-in, right, walks toward an airplane to return home after ending his three-day trip to North Korea for a summit with his northern counterpart Kim Jong-un, at Samjiyon Airport on Sept. 20. / Joint Press CorpsBy Lee Min-hyungNorth Korea will continue seeking sanctions exemptions in exchange for its phased steps for denuclearization by bringing the issue to the table during any future inter-Korean summit, according to experts. Such a scenario comes at a critical time when Washington and Pyongyang have reached a deadlock in their denuclearization talks, with both sides refusing to make any concessions on the timeline and methods for the North's nuclear disarmamentTo make a breakthrough, calls have grown for South Korea to play a bigger role as a mediator between the U.S. and the North.“What North Korean leader Kim Jong-un wants is sanctions relief from the international community and will likely use the promise of step-by-step denuclearization as a bargaining chip,” Cho Han-bum, a senior researcher of the policy unit at the Korea Institute for National Unifi

Dec 16, 2018By Lee Min-hyung

Moon replaces 16 vice ministers

By Lee Min-hyungLee Ho-seung, first vice minister of economy and financeKoo Yun-cheol, second vice minister of economy and financePresident Moon Jae-in carried out a major reshuffle of vice ministers on Friday, with a view to revitalizing the economy and tightening discipline within the administration as his approval ratings continue to fall.Moon appointed seven new vice ministers and nine vice minister-level officials, Cheong Wa Dae said.The President has made it his top priority to build a more dynamic government by making the personnel changes, it explained.The new appointees include Lee Ho-seung, the first vice minister of economy and finance. Lee served as a former secretary for job planning at the presidential office. Koo Yun-cheol, a former chief of the ministry’s budget management division, was appointed as second vice finance minister.Lee is cited as an expert in macroeconomics, so expectations are that he will help the government gain economic growth by producing relevant policies at the finance ministry, Cheong Wa Dae said.Koo has innovative leadership in budget plan

Dec 14, 2018By Lee Min-hyung

Korea pushing for Putin's visit early next year

South Korean Ambassador to Russia Woo Yoon-keunBy Kim Bo-eunSouth Korea is talking with Russia to arrange Russian President Vladimir Putin's visit to Seoul in the first half of next year, Ambassador to Russia Woo Yoon-keun said Thursday.Russia earlier stated Putin's visit is slated for next year. Prime Minister Lee Nak-yon delivered President Moon Jae-in's invitation to the Russian leader to visit Korea, when he attended the Eastern Economic Forum in Vladivostok in September.This came after Moon paid a visit to Moscow in June, the first of a South Korean leader to Russia in 19 years.The ambassador's remarks were made during a press conference at the foreign ministry. Woo is among 181 ambassadors and consul generals visiting Seoul this week for an annual meeting.Regarding the North Korean leader Kim Jong-un's visit to Russia this year, Woo said this was unlikely.Around September, it appeared as though Kim's visit to Russia was arranged, with Russian Foreign Minister Sergey Lavrov and Federation Council Chairman Valentino Matviyenko visiting Pyongyang. North Korea's Foreign Minister Ch

Dec 13, 2018By Kim Bo-eun

Korea pushing for Putin's visit early next year

'Peace treaty possible without ending war'

By Kim Bo-eunA state-run institute under the Ministry of Unification claimed Thursday that concerned nations can possibly discuss signing a peace treaty without declaring an end to the 1950-53 Korean War.Although the declaration seems to be an ideal step toward a peace treaty, signing a peace treaty without the declaration is also possible, according to the Korea Institute for National Unification (KINU).“Pushing for a declaration ending the war first is not an essential process in establishing a peace regime,” KINU researcher Kim Sang-ki told reporters. When the focus is on an end of war declaration, negotiations for a peace treaty could be delayed, he said. The researcher added that South and North Korea already virtually declared an end to the war as a detente was created this year, with arms control taking place.In addition, a consensus has been reached on the parties that would take part _ the Koreas, the U.S. and China _ and North Korea has taken a more flexible approach to U.S. troops stationed in the South so the likelihood of discussions for a peace treaty have become more l