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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Opinion

Editorial

Sun, January 29, 2023 | 11:53

Swelling corporate reserves

Internal reserves accumulated by the 100 largest Korean companies exceeded 1,000 trillion won ($695 billion) last year. According to the National Assembly Research Service, the internal reserves of the top 100 companies increased 62.7 percent from 630 trillion won in 2012 to 1,025 trillion won in 2021. The 10 largest companies' internal reserves alone increased 72.3 percent f...

2022-10-04 16:45

Consecutive trade shortfalls

The nation's trade shortfall reached $3.77 billion in September, logging a deficit for the sixth consecutive month. This is the first time since 1997, just before the Asian financial crisis, that Korea posted a trade deficit for six straight months. The aggregate shortfall reached a record $28.9 billion in the first nine months of this year. Should the current trend continue,...

Shim Jae-yun2022-10-03 17:02

Japan's fresh UNESCO push

Japan is pushing ahead again with a plan to obtain UNESCO World Heritage recognition for a complex of former mines linked to wartime forced labor. On Thursday, the Japanese government submitted a revised version of a recommendation letter for the Sado mines to the UNESCO headquarters in Paris.

Shim Jae-yun2022-10-03 17:00

Utility rate hikes insufficient

Consumers and businesses will feel a higher burden from their energy use after the government increased utility charges Oct. 1. Last Friday, the government decided to raise electricity rates and natural gas prices by 6.9 percent and 15.9 percent, respectively, for households. The charges for industrial and commercial use also went up as high as 17.4 percent and 16.6 percent, ...

Park Yoon-bae2022-10-02 17:02

State-sponsored prostitution

The Supreme Court ruled last Thursday that the state should compensate former sex workers at now-defunct brothels near U.S. military bases. The top court said the government should take responsibility for having encouraged sex trafficking by operating military camptowns under the pretext of cementing the military alliance with the U.S. and earning foreign currency.

2022-10-02 16:55

Stop political squabbles

The main opposition Democratic Party of Korea (DPK) railroaded a motion for the dismissal of Foreign Minister Park Jin through the National Assembly, Thursday. The DPK earlier tabled the motion requesting President Yoon Suk-yeol sack Park by holding him responsible for the alleged diplomatic gaffes during Yoon's recent overseas trips.

Shim Jae-yun2022-09-30 17:16

Trilateral anti-submarine drills

South Korea will hold trilateral anti-submarine drills with the United States and Japan in international waters off the East Sea on Friday to cope with growing military threats from North Korea more effectively, the Ministry of National Defense said Thursday. The maritime exercise is the first of its kind since April 2017.

Park Yoon-bae2022-09-29 17:05

Launch of education commission

The presidential National Education Commission (NEC) responsible for establishing the nation's medium- to long-term education policy was launched on Tuesday. The NEC is a consent-based administrative agency that was created by enacting related laws to ensure that educational policies are implemented stably and consistently based on social consensus. When the government change...

2022-09-29 17:02

Deepening political quagmire

A political confrontation is escalating between the ruling and opposition camps over President Yoon Suk-yeol's reported use of foul language last week during his visit to New York for the U.N. General Assembly. On Tuesday, the main opposition Democratic Party of Korea (DPK) submitted a motion to the National Assembly, requesting Yoon sack Foreign Minister Park Jin for the dip...

Shim Jae-yun2022-09-28 17:00

Opposition leader targeted

Prosecutors raided 10 corporate offices, including internet portal Naver, Monday, over allegations that Lee Jae-myung, chairman of the main opposition Democratic Party of Korea (DPK) who served as mayor of Seongnam from 2010 to 2018, received donations from companies via Seongnam FC, the city's football club. The Seongnam branch of the Suwon District Prosecutors' Office sent ...

2022-09-28 16:01

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