KoreaTimes(202) - Editorial, Opinion, page 2

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Opinion

Editorial

Sat, May 15, 2021 | 04:24

Full of self-praise

The Ministry of Economy and Finance has released a report titled, “Economic Accomplishments and Tasks,” a self-diagnosis of the Moon Jae-in administration's economic performance over the past four years. To sum up, it said, “The government has catapulted the Korean economy to the world's top-10 class by turning crisis into opportunity.” It is worrying that the report is full ...

2021-05-09 17:07

Waiver on vaccine patent protections

U.S. President Joe Biden's administration announced its support for a waiver on patent protections for coronavirus vaccines, Wednesday, paving the way for discussions for the expanded production and more equal distribution of the drugs. U.S. Trade Representative Katherine Tai also said in a statement the country “supports the waiver of those protections for COVID-19 vaccines....

2021-05-07 16:22

Growing inflationary pressure

South Korea posted the fastest growth in consumer prices in nearly four years last month, raising concerns about increasing inflationary pressure. According to data released Thursday by Statistics Korea, the consumer price index (CPI) jumped 2.3 percent year-on-year in April, a 1.5 percent hike from March.

Park Yoon-bae2021-05-06 16:40

Time to promote innovation

Korea's manufacturing sector propped up the economy last year amid the global business slump resulting from the fallout from the COVID-19 pandemic, according to a recent report. The global economy contracted 3.3 percent in 2020, but the local economy contracted a meager 1 percent thanks to its manufacturing industry armed with top-class competitiveness, thus minimizing the cr...

2021-05-06 16:30

Withdraw nominations

Five ministerial nominees are facing growing calls to voluntarily withdraw their nominations amid allegations of ethical lapses. On Tuesday, the National Assembly conducted confirmation hearings on the nominees, including Lim Hye-sook for science and ICT minister and Park Jun-young for oceans and fisheries minister.

Shim Jae-yun2021-05-05 17:37

Lessons from Namyang fiasco

Namyang Dairy Products Chairman Hong Won-sik offered to resign Tuesday, apologizing for causing controversy over false claims about the anti-viral effects of the company's yogurt drink, Bulgaris. In a press conference at the company headquarters in southern Seoul, he also vowed not to hand over management of the company to his children.

2021-05-05 16:30

Qualification questioned

President Moon Jae-in cannot deflect criticism for tapping a pro-government figure as the new prosecutor general. On Monday, he nominated former Vice Justice Minister Kim Oh-soo to the top post at the prosecution. Moon appeared to put loyalty over qualification and competence in choosing Kim over three other candidates shortlisted by a recommendation committee.

Park Yoon-bae2021-05-04 17:18

Upbeat export figures

Korea registered monthly exports of $51.19 billion in April, hitting records in various areas. Above all, the country saw an export growth rate of 41.1 percent last month, the highest year-on-year rise since January 2011. Additionally, it was the best April performance ever, while topping $50 billion for the second consecutive month. The jump was, of course, due in part to th...

2021-05-04 16:30

Rebuild ruling party

The ruling Democratic Party of Korea (DPK) elected five-term lawmaker Song Young-gil as its new chairman during its convention Sunday. In a highly-contested race, Song, a former Incheon mayor, earned 35.6 percent of the vote, defeating runner-up Rep. Hong Young-pyo by 0.59 percentage points. The party also selected five Supreme Council members - Reps. Kim Yong-min, Kim Young-...

Shim Jae-yun2021-05-03 16:30

Relief for self-employed

Self-employed people are slipping deeper into debt, as they have been ordered to halt or limit their business operations under state-imposed social distancing guidelines aimed at containing the spread of the COVID-19 pandemic. As things stand, their economic plight is unlikely to be alleviated anytime soon.

2021-05-03 16:00

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