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Opinion

Editorial

Thu, July 7, 2022 | 16:38

Expanding diplomatic horizons

President Yoon Suk-yeol's plan to attend a NATO summit will mark a turning point in South Korea's multilateral diplomacy. The gathering, scheduled for June 29 and 30 in the Spanish capital of Madrid, will provide a rare opportunity for Yoon to expand the country's diplomatic horizons by stepping up security cooperation with the regional alliance.

Park Yoon-bae2022-06-12 17:05

Inauspicious economic signs

Korea's current account returned to a deficit in April for the first time in two years. According to the Bank of Korea (BOK) on Friday, the monthly shortfall came to $80 million (100.5 billion won) in the balance of the current account, a broad measure of the nation's global trade in goods and services as well as net earnings on cross-border investments.

2022-06-12 16:55

Shameful in-house discord

A dispute within the ruling People Power Party (PPP) is escalating, with PPP Chairman Lee Jun-seok and some stalwart party lawmakers exchanging salvoes. The in-house feud began when Lee attempted to set up a new apparatus to overhaul the current candidate nomination system ahead of the parliamentary elections in 2024. Lee returned home Thursday from his visit to war-torn Ukra...

Shim Jae-yun2022-06-10 17:00

More support for chipmaking

President Yoon Suk-yeol has instructed his Cabinet members to map out special measures to boost the semiconductor industry and nurture talented workers. “Semiconductors are a national security asset and a mainstay of our economy, accounting for 20 percent of the total exports,” Yoon said during a Cabinet meeting Tuesday.

Shim Jae-yun2022-06-09 17:00

Ease workers' tax burden

Consumer prices have risen by 2 percent a year on average over the past decade. The upward trend has become steeper since the latter half of 2021. The monthly inflation rate jumped 5.4 percent year-on-year last month, the highest in 13 years and nine months. The surge is making the pandemic-hit lives of people even more difficult.

2022-06-09 16:46

Find negotiated solution

Unionized truck drivers staged the second day of their strike Wednesday, demanding wage hikes. Some 9,000 truckers, or 40 percent of the 22,000 members of the Cargo Truckers Solidarity affiliated with the Korean Confederation of Trade Unions (KCTU) launched the strike Tuesday morning.

Shim Jae-yun2022-06-08 17:00

Shameless lawmaker

Min Hyung-bae, an independent lawmaker who left the Democratic Party of Korea (DPK) in April in a thinly-veiled attempt to ram through bills that would strip the prosecution of its investigative powers, has expressed his wish to return to the party as the local elections came to an end. In a radio interview Monday, Rep. Min said he is waiting for a “special measure” by the pa...

2022-06-08 16:55

Lopsided appointments

President Yoon Suk-yeol has come under criticism for appointing former prosecutors to major government posts. Yet he has continued to defend his appointments by saying that his policy is to appoint the right person with “competence” to the right position. But only a few agree with him.

Park Yoon-bae2022-06-07 17:07

Specter of twin deficits

With Korea recording a fiscal deficit for four years in a row, concerns are growing that the country might continue to suffer a trade shortfall. According to data released earlier this month by the Ministry of Trade, Industry and Energy, Korea chalked up a trade deficit of $1.71 billion last month.

2022-06-07 16:55

For sustainable growth

Korea is waging an uphill battle to tame soaring inflation and ensure solid economic growth. Yet the country is finding it more difficult to maintain sustainable growth as economic conditions continue to deteriorate. The new Yoon Suk-yeol administration should work out comprehensive long-term measures to avoid downside risks and regain economic vitality.

Park Yoon-bae2022-06-06 17:07

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