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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Opinion

Editorial

Sun, January 29, 2023 | 10:45

Impact of plunging won

The Korean economy is bearing the brunt of the rapidly falling value of the won against the U.S. dollar. The local currency closed at 1,345.50 won per dollar Tuesday, down 5.70 won from the previous day. The closing price marked the won's lowest level seen since April 28, 2009.

Park Yoon-bae2022-08-24 17:55

Appoint special inspector

The ruling and opposition parties are in a tug of war over the appointment of a special inspector. The presidential office said Monday that it is waiting for the parties to recommend candidates, reaffirming its position that President Yoon Suk-yeol will appoint someone once the National Assembly makes its recommendations.

2022-08-24 17:47

Need for win-win diplomacy

Wednesday marks the 30th anniversary of diplomatic relations between South Korea and China. The anniversary is significant as the two countries have made phenomenal progress in bilateral ties over the past three decades. However, it is doubtful whether Seoul and Beijing can deepen their partnership further down the road.

Park Yoon-bae2022-08-23 17:06

Pension reform drive

The government has finally set about to reform the four major public pensions. In a policy briefing to President Yoon Suk-yeol last Friday, the Ministry of Health and Welfare said it would integrate the national pension with the three occupational pensions - for public servants, veterans and teachers. It will then link them to the basic pension for people aged 65 and older.

2022-08-23 16:45

Forging bipartisanship

President Yoon Suk-yeol has begun to show signs of changing his leadership style in a bid to better reflect public opinion and move toward bipartisanship. This move is drawing positive responses from the opposition political parties and the people.

Park Yoon-bae2022-08-22 17:06

Boost essential medical services

The Ministry of Health and Welfare said in its report to President Yoon Suk-yeol on Friday that it would facilitate more funds to essential medical services related directly to life to prevent further similar tragedies following the death of a nurse at one of Seoul's top hospitals. Specifically, the ministry vowed to implement measures aimed at boosting such healthcare areas ...

2022-08-22 16:54

New strategy needed

North Korea has rejected President Yoon Suk-yeol's “audacious” initiative under which Seoul would offer generous economic aid if Pyongyang takes denuclearization steps. The rejection should not come as a surprise because only a few expected the North to accept the offer.

Park Yoon-bae2022-08-21 18:05

Preventing currency turmoil

Korea's short-term foreign debt ratio to its foreign reserves rose in the second quarter to its highest level in a decade. According to the Bank of Korea, the country's external liabilities hit an all-time high of $662 billion on June 30, up $7.9 billion from three months earlier. Its short-term debt that matures in a year grew faster by $8.9 billion to $183.8 billion.

2022-08-21 16:45

Pro-Yoon chief prosecutor

President Yoon Suk-yeol has named Lee One-seok, deputy chief of the Supreme Prosecutor's Office, as the new prosecutor general. Lee has been serving as the acting prosecutor general since May 23, after his predecessor, Kim Oh-soo, stepped down. Lee is subject to National Assembly confirmation hearings in mid-September to become the new chief prosecutor.

Shim Jae-yun2022-08-19 17:00

Setback to local automakers

Domestic automakers are feared to suffer setbacks in their exports of electric vehicles (EVs) to America as U.S. President Joe Biden signed a landmark climate change and health care bill into law Tuesday. The problem lies in the Inflation Reduction Act which calls for expanding tax subsidies for EV buyers, but only for EVs assembled in North America.

Park Yoon-bae2022-08-18 17:09

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