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Reporter : Park Yoon-bae
Wed, October 5, 2022 | 02:23
Do not hurt free, fair trade
South Korean carmakers Hyundai Motor and its affiliate Kia Corp. cannot help but feel betrayed by U.S. President Joe Biden who signed the Inflation Reduction Act (IRA) into law on Aug. 16, as Korean-made electric vehicles (EVs) are no longer eligible for tax subsidies in America under the new legislation.
Biden inflation
Biden inflation
Desperate cry for truth
A government has no reason to exist if it neglects or fails to protect people's lives and their property. A case in point could be the previous Moon Jae-in administration's failure to save a fisheries official who was shot to death by the North Korean military in 2020.
Era of chip alliance
The U.S. and Japan have agreed to jointly develop 2-nanometer semiconductors. The 2-nm chips are so advanced that even the world's memory chip frontrunners, such as Samsung Electronics and TSMC, do not have the technology to mass produce them. Japanese media outlets reported that “the U.S.-Japanese alliance aims to develop cutting-edge semiconductors ahead of their Korean and Taiwanese competitors.” The world's largest and third-largest economies want to build a semiconductor chain by reducing their dependence on Korea and Taiwan.
End 'imperial' presidency
President-elect Yoon Suk-yeol has been promising to end the country's “imperial” presidency since he launched his presidential candidacy last year. After winning the March 9 election, he reaffirmed his pledge by announcing a plan to relocate the presidential office from Cheong Wa Dae to a new site in Yongsan, central Seoul.
World's lowest birthrate
Statistics Korea said last Wednesday that the number of newborns fell to 260,500 in 2021, hitting the lowest level since the government began to compile related data in 1970. The country's total fertility rate - the average number of children a woman aged 15-49 bears in her lifetime - stood at 0.81. It's also the lowest in history and the lowest worldwide. Korea is the only country with a total fertility rate below 1 among the 38 OECD nations, with its rate remaining half of the OECD average of 1.61.
Make change for the better
Koreans have high expectations for the March 9 presidential election which they hope will bring a drastic change for the better. Yet they face a tough choice in deciding who to vote for because of a lack of confidence in the presidential candidates.
Deepening inequality
The widening wealth and income gap has become a global phenomenon amid the prolonged COVID-19 pandemic. It is sad to see the devastating economic impact of the public health crisis make the rich richer and the poor poorer.
Finding a link between Confucianism and competitiveness
Confucianism has long had a great influence in East Asian countries. It is intriguing to figure out how Confucian values have contributed to strong performance at schools and workplaces, leading to remarkable economic achievements in those nations.
Apologies and forgiveness
The death of former President Roh Tae-woo reminds us of how crucial apologies and forgiveness are to healing the wounds of the victims of the bloody crackdown on the May 1980 pro-democracy uprising in the southwestern city of Gwangju.
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