KoreaTimes - Editorial

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Entertainment & Arts

Qatar 2022

SCMP
Asia

Opinion

Editorial

Wed, November 30, 2022 | 03:19

Strikes amid economic gloom

The Korean Confederation of Trade Unions (KCTU) is threatening to hold a series of large strikes, vowing to expand labor rights. At a press conference held in front of the National Assembly on Tuesday, the KCTU, one of the country's two umbrella labor organizations, called for the enactment of an additional law to prevent fatal accidents at construction sites and extending th...

2022-11-23 16:45

Life getting harder

Households at the bottom 20 percent of the income bracket saw their average real income fall 6.5 percent in the third quarter of this year from a year earlier, according to Statistics Korea on Monday. Meanwhile, the richest 20 percent's inflation-adjusted average income declined only 2 percent. This indicates that the poor have been far more severely affected by deteriorating...

Park Yoon-bae2022-11-22 17:15

Prioritize deregulation for startups

About 25 percent of Korean startups are considering relocating overseas due to excessive regulations, according to a recent survey by the Korea International Trade Association. Nothing more aptly shows the problem of bureaucratic red tape here than this opinion poll. If firms that have just started business face this problem, more companies that have grown and reached maturit...

Park Yoon-bae2022-11-22 16:45

Climate crisis fund

On Sunday, the world agreed to establish a fund to compensate poor and vulnerable countries for the “loss and damage” they have suffered due to climate change. The fund calls for wealthy and industrialized nations, which are more responsible for causing the climate crisis, to contribute money to help developing countries to cope with it. This decision is a step forward by the...

Shim Jae-yun2022-11-21 17:05

Arrest of 'right-hand man'

Jeong Jin-sang, vice chief of staff to Lee Jae-myung, chairman of the main opposition Democratic Party of Korea (DPK), was arrested early Saturday morning over bribery and other charges connected to a high-profile real estate development project. Jeong, widely known as Lee's “right-hand man,” is suspected of receiving nearly 140 million won ($105,000) between 2013 and 2020 fr...

2022-11-21 16:45

Mounting nuclear threats

North Korea's launch of an intercontinental ballistic missile (ICBM) last week has raised tensions further on the Korean Peninsula and in East Asia. The North test-fired a Hwasong-17 ICBM at Pyongyang International Airport on Friday, according to its state-run Korean Central News Agency (KCNA).

Park Yoon-bae2022-11-20 17:05

Extending 52-hour workweek

A blue-ribbon panel to reform the labor market has unveiled a plan to change the working hour system. Last Thursday, the presidential Future Labor Market Research Committee presented a direction to revise the current 52-hour workweek. The plan calls for, among others, modifying the extended working hour management period from the current weekly to monthly or longer units.

2022-11-20 16:46

Budget plan under attack

Rival political parties are bickering over next year's budget worth 639 trillion won ($476 billion). The budget settlement committee of the National Assembly started deliberating on the 2023 fiscal expenditure plan Thursday, but faces a bumpy road due to a bitter disagreement between the ruling People Power Party (PPP) and the main opposition Democratic Party of Korea (DPK).

Shim Jae-yun2022-11-18 17:00

Setting new milestone

Saudi Crown Prince Mohammed bin Salman's visit to South Korea is expected to deepen economic cooperation between the two countries. His trip here, the first since June 2019, comes as Seoul and Riyadh mark the 60th anniversary of diplomatic ties this year.

Park Yoon-bae2022-11-17 17:04

Delayed acquisition process

Another foreign antitrust agency has decided to suspend the approval of Korean Air's acquisition of Asiana Airlines. The U.S. Department of Justice reportedly said Tuesday it would watch more of Korean Air's remedies to address the regulator's concerns over the planned acquisition before deciding whether to approve it. A day earlier, Britain's Competition and Markets Authorit...

2022-11-17 16:06

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