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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Opinion

Editorial

Tue, June 6, 2023 | 00:46

State firms' soaring debt

The combined debt of the nation's 39 state corporations with assets of 2 trillion won ($1.4 billion) or more is expected to reach 632.8 trillion won this year. The figure represents an increase of 82.2 trillion won from last year. Of the increased debt, 30.9 trillion won is attributed to Korea Electric Power Corp.

2022-10-31 16:34

Halloween nightmare

An unprecedented deadly crowd crush has sent shockwaves throughout the country. The tragedy occurred in Itaewon, a popular Seoul nightlife district, on Saturday night when huge crowds of partygoers gathered for Halloween celebrations. It killed at least 154 people, mostly in their late teens and 20s. Twenty-six foreign nationals from 14 countries including China, Iran, Russia...

2022-10-30 17:11

Lack of concrete measures

The government will provide funds totaling 50 trillion won ($35 billion) for small and medium-sized enterprises (SMEs) struggling amid soaring inflation, high interest rates and the dropping value of the Korean won against the U.S. dollar. It will also ease lending rules for first-time home buyers to take out mortgage loans of up to 50 percent for homes worth over 1.5 billion...

2022-10-30 16:54

Grave tasks ahead

Samsung Electronics Vice Chairman Lee Jae-yong was appointed as chairman of the world's No. 1 maker of semiconductors and cellphones, Thursday. Lee's ascension came 10 years after he took the vice chairmanship and two years after his father Lee Kun-hee passed away. Lee has been essentially leading the nation's largest company since 2014 when his father collapsed due to a hear...

2022-10-28 17:04

Unwelcome record profits

The country's four financial holding firms reaped a record combined net profit of 13.85 trillion won ($9.77 billion) in the first nine months of this year. The sum is expected to rise further to a stunning 19 trillion won for the whole year.

2022-10-27 17:05

Lowering criminal age limit

On Tuesday, the Ministry of Justice announced a set of measures to cope with juvenile crimes. The policy package calls for, among other things, the lowering of the age of criminal responsibility from 14 to 13. Currently, minors under 14 cannot be convicted of a crime in Korea. Even if these juveniles commit offenses, they are referred to community service programs or youth co...

2022-10-27 16:58

Shaky 'reactor alliance'

Westinghouse Electric Company has filed a suit against Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corp. (KEPCO), hindering their plans to export nuclear reactors to Poland. In the lawsuit filed with the U.S. District Court for the District of Columbia, the U.S. firm claims Korea's APR 1400 reactors incorporate the design of the System 80 reactor of Combustion...

2022-10-26 17:28

Growing distrust of Korean Air

A Korean Air passenger jet overshot the runway at Cebu International Airport in the Philippines while attempting to land late on Sunday. There were 162 passengers on board along with 11 cabin crew.

2022-10-26 17:17

Shameful boycott

The main opposition Democratic Party of Korea's (DPK) boycott of President Yoon Suk-yeol's budget speech at the National Assembly on Tuesday cannot be justified under any circumstances. It was a shameful act that deserves criticism for the dereliction of duty as a responsible political party.

2022-10-25 17:06

Local councilors' greed

Local councilors around the country are under criticism over their greedy moves for higher pay. Many are pushing for a significant hike in their own salaries, officially claimed as expenses for their activities, for the next four years ahead of the Oct. 31 deadline. Critics are right to say these councilors are lining their pockets while turning a blind eye to the people's li...

2022-10-25 16:53

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