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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Opinion

Editorial

Fri, June 9, 2023 | 10:02

Successive railway accidents

Last Sunday night, a train derailed in southwestern Seoul, injuring about 30 passengers and delaying rail operations for nearly a day. A day before, one railway worker was killed and another injured after being struck by a cargo train in Uiwang, south of Seoul. The successive incidents have put the safety record of Korea Railroad Corp. (KORAIL) in question. Concerns are mount...

2022-11-08 16:58

Looming debt crisis

Concerns are growing over the potential volatility in the financial markets, prompted by the seemingly “excessive” interest rate hikes. Central banks of the United States, the EU and the United Kingdom recently conducted what is called a “giant step,” raising the benchmark rate by 75 basis points.

Shim Jae-yun2022-11-07 17:02

Miners' safe return

Two miners, who had been trapped in a collapsed zinc mine for more than nine days, were rescued miraculously late Friday night. The men, aged 62 and 56, were stranded 190 meters underground after part of the zinc mine they were working in collapsed Oct. 26 in Bonghwa, North Gyeongsang Province. Both were able to walk out of the mine and were taken to a hospital.

2022-11-07 16:54

Bungled police response

The Halloween tragedy in Seoul's Itaewon district reveals that the police's crisis management and command reporting system has been in disarray. It also shows that the nation's disaster prevention and response system has failed to work properly.

Park Yoon-bae2022-11-06 17:06

Grim employment outlook

The Korea Development Institute (KDI) said Thursday that new job openings next year will likely amount to one-tenth of those this year. The state-run think tank offered the grim outlook based on its analysis of jobs data at Statistics Korea. Korea's employment figures were excellent this year, at least statistically. In May, KDI expected new jobs to increase by 600,000 this y...

2022-11-06 16:58

Rate hikes stoke concerns

The nation's financial authorities are desperately coping with a potential increase in financial market volatility following the U.S. Federal Reserve's 75 basis point rate hike Wednesday. The Fed's recent move raised the benchmark interest rate to a 15-year high - from 3.75 percent to 4 percent. The four consecutive giant rate hikes have largely been expected, pushing the U.S...

Shim Jae-yun2022-11-04 16:58

Stop escalating tensions

North Korea test-fired an intercontinental ballistic missile (ICBM) toward the East Sea on Thursday, further raising tensions on the Korean Peninsula. It also launched two short-range ballistic missiles. The test-firing posed a great threat to South Korea and its neighboring countries in East Asia although the ICBM seems to have failed in flight. It was also a grave threat to...

Park Yoon-bae2022-11-03 17:13

Shocking export drop

Amid the continuing trade deficit, even exports have declined. According to the Ministry of Trade, Industry and Energy, Korea's foreign shipments in October fell 5.7 percent year-on-year to $52.48 billion. It was the first time in two years that monthly exports have decreased. In contrast, imports jumped 9.9 percent, resulting in a trade deficit for seven consecutive months f...

2022-11-03 16:23

Hope for reactor exports

Seoul and Warsaw signed a letter of intent (LOI) Monday for the construction of Poland's second nuclear power station. State-run Korea Hydro Nuclear Power (KHNP) signed the LOI with ZE PAK, Poland's largest solar power plant and Polska Grupa Energetyczna (PGA), a state-owned power utility. They will assess the feasibility of building the nuclear plant in Patnow, central Polan...

Shim Jae-yun2022-11-02 17:01

Ticking debt bomb

The Korean economy is sliding into a debt trap amid soaring interest rates as all economic players - households, enterprises and government - are increasingly weighed down by debt.

2022-11-02 16:22

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