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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Opinion

Editorial

Tue, May 30, 2023 | 20:49

Unfit labor council chief

Kim Moon-soo, chair of the presidential Economic, Social and Labor Council, was forced out of the conference room during a National Assembly audit of government agencies Wednesday, due to his controversial remarks that come close to ideological branding. Above all, Kim called former President Moon Jae-in a “Kim Il-sung-ist,” a follower of the North Korean founder.

2022-10-16 17:07

Humiliating defeat in UN

It is humiliating that South Korea has failed to retain its seat on the United Nations Human Rights Council (UNHRC). It is the first time the nation has been denied council membership since it was founded in 2006. South Korea got 123 votes in a U.N. General Assembly in New York, Wednesday, coming in fifth among eight Asian countries competing to attain a slot for the council'...

2022-10-14 17:18

Viable deterrence options

The Yoon Suk-yeol administration is weighing various measures to strengthen deterrence against ever-mounting nuclear threats from North Korea. Yet it is tricky to sort out viable options as there are risk factors to consider. What's certain is that South Korea needs a new strategy as the Kim Jong-un regime is going all out to develop and deploy tactical nuclear warheads that ...

2022-10-13 17:05

Another big-step rate hike

The Bank of Korea (BOK) delivered another big-step rate hike on Wednesday by raising its benchmark interest rate from 2.5 percent to 3 percent. It is the first time in 10 years that the rate has climbed up to the 3 percent range. In addition, the central bank raised the policy rate for the fifth consecutive time, marking another first in its history. The successive rate incre...

2022-10-13 17:00

'Worst is yet to come'

The International Monetary Fund (IMF) said Tuesday the global economy will slow further to register 2.7 percent growth next year, 0.2 point lower than a previous forecast made in July. This is 0.5 point lower than a 3.2-percent estimate for this year. The IMF also expected Korea's growth to slide to 2 percent next year from 2.6 percent this year.

2022-10-12 17:53

Law enforcement agencies have declared war on drugs, as the use of narcotics has become more widespread in Korea, which was once touted as being “drug-free.” In a weekly meeting last Friday, Prosecutor General Lee Won-seok vowed to crack down on drug crimes, saying, “We have passed the critical point.” In August, Yoon Hee-keun, the new commissioner general of the Korean Natio...

2022-10-12 17:27

Boost chip industry

Lawmakers of the ruling and opposition parties have taken flak for causing a special bill promoting the domestic semiconductor industry to languish at the National Assembly amid rising partisan conflicts. Despite rapid changes in global semiconductor industry conditions, they have yet to deliberate on the bill which was submitted in August. The Yoon Suk-yeol administration ea...

2022-10-11 17:24

High-risk debtors

There were about 381,000 high-risk households with total combined financial debt amounting to 69.4 trillion won ($48.7 billion) as of the end of last year, the Bank of Korea said Monday. High-risk households refer to those heavily burdened by servicing debts and mired in difficulty repaying their borrowings through asset sales, according to the BOK.

2022-10-11 17:08

Don't play with nukes

North Korea has gone too far in making nuclear threats to South Korea and the United States. It conducted a series of military drills from Sept. 25 to Oct. 9 in response to combined naval exercises between the South and the U.S., according to the North's Korean Central News Agency (KCNA).

2022-10-10 17:09

Responsible ruling party

The ruling People Power Party (PPP) has emerged from its protracted internal feud caused by the ethics panel's disciplinary action against Lee Jun-seok, the party's former leader, over allegations that he accepted sexual favors as bribes and abetted an attempt to destroy evidence of the incident.

2022-10-10 16:59

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