KoreaTimes(202) - Editorial, Opinion, page 1

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Opinion

Editorial

Sun, September 26, 2021 | 10:34

Electricity rate hike

The Korea Electric Power Corp. (KEPCO) said Thursday that it plans to raise electricity prices in the fourth quarter of this year. The price increase will be 3 won ($0.0025) per kilowatt hour for the three-month period from October, with the termination of the current discount of the same amount of money, the state-run firm said. This means an average four-member household wi...

Shim Jae-yun2021-09-24 16:52

Market jitters grow

Global financial markets have shown a jittery reaction to the prospective default of China's second-largest real estate developer Evergrande Group. The group has been pressured to pay huge sums in interest payments on its $300 billion (355 trillion won) debt. In a filing posted on China's social media platform Weibo, Wednesday, the company said it had resolved the issue of yu...

Shim Jae-yun2021-09-23 17:05

Flawed health insurance

A few foreign nationals here are deriving excessive benefits from the national health insurance system at the cost of domestic subscribers. According to data independent lawmaker Lee Yong-ho received from the National Health Insurance Service, one Chinese citizen residing in Korea received about 3.3 billion won ($2.8 million) in medical treatments over the last five years, wh...

Park Yoon-bae2021-09-23 17:00

Repeated peace offer

President Moon Jae-in once again proposed a formal end to the 1950-53 Korean War in his speech to the 76th session of the U.N. General Assembly, Tuesday. The proposal reflected his desperate bid to make a breakthrough in deadlocked denuclearization talks between the U.S. and North Korea and promote his peace initiative on the Korean Peninsula.

Park Yoon-bae2021-09-22 16:56

Fall in potential growth rate

The Bank of Korea (BOK) has estimated the potential growth rate for the national economy at 2 percent for this year and 2022. The comparable rate for 2020 and 2019 was around 2.2 percent. Potential growth rate refers to the maximum possible rate an economy can grow without triggering inflation. The latest estimate represents a decline of 0.3 to 0.4 percentage points from thre...

2021-09-22 16:55

Food security plan

The government announced a plan Thursday to ensure a stable food supply for the people by expanding storage facilities and the basis for the procurement of staple grains. According to the 2021-2025 National Food Program, public rice reserves, currently standing at 350,000 tons per year, will be increased to 450,000 tons from next year. It is also seeking to increase self-suff...

Shim Jae-yun2021-09-17 17:00

More concern than hope

Chinese Foreign Minister Wang Yi's two-day visit to South Korea raised more concern that hope over relations between the two countries which will mark the 30th anniversary of their diplomatic normalization next year. He cannot deflect criticism for trying to undercut the South Korea-U.S. alliance and failing to condemn North Korea for its launching of two ballistic missiles.

Park Yoon-bae2021-09-16 17:04

Win-win carmaker

Gwangju Global Motors (GGM), a provincial automaker launched as part of the Moon Jae-in administration's “win-win job creation project,” has rolled out its first car, a mini-SUV branded as the Casper. The event was the fruit borne two years after local unions and management, and the private and public sectors, signed a “win-win agreement,” seven years after they began to disc...

2021-09-16 17:00

Google should play fair

Korea's antitrust watchdog fined Google 207.4 billion won ($177 million) Tuesday for abusing its dominant market position to hamper fair competition. The Korea Fair Trade Commission (KFTC) implemented the punitive steps against the U.S. tech giant for compelling smartphone manufacturers such as Samsung Electronics to install only its Android operating system (OS).

Shim Jae-yun2021-09-15 17:00

Do more to prevent suicide

The number of ambulances despatched in response to suicides or attempted suicides has soared over the last four years, according to data released by the office of Rep. Kim Do-eup of the main opposition People Power Party (PPP).

2021-09-15 17:00

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