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Fri, December 8, 2023 | 04:15
Moody's calls for labor market reform
SINGAPORE - Global credit ratings agencies have called on President Moon Jae-in to push for labor reform in order to overcome economic challenges. They also stressed the importance of employing more aggressive fiscal spending to boost domestic demand amid escalating geopolitical risks. “The government should make headway with labor market reforms, in particular, addressing the high level of youth unemployment,” Katrina Ell, an economist at Moody’s Analytics, said in an interview.
Moon's income-led growth policy drawing skepticism
Korea may face an economic downturn before it sees a meaningful rebound. This means President Moon Jae-in’s “income-led growth” policies have failed to provide the impetus for economic growth.
Moon needs 'balancing act' in labor policies
Five months have passed since President Moon Jae-in took office. His approval rating still remains high, and his policies aimed at protecting workers and supporting the underprivileged are favored by the public. However, his policies, designed mostly to create jobs and boost the economy in the short term, are feared to hurt the global competitiveness of the Korean economy in ...
Time to talk to end N.Korea's nuke crisis
The North Korea nuclear standoff is seemingly heading toward a dead end. The exchange of bombastic rhetoric between U.S. President Donald Trump and North Korean leader Kim Jong-un is heightening the risk of military confrontation on the Korean Peninsula.
Korea shares 'legislative system'
South Korea has stepped up its efforts to globalize its legal system by strengthening its cooperation with Mongolia. From Sept. 13 to 15, Kim Oe-sook, minister of Government Legislation, visited the Ministry of Justice and Home Affairs of Mongolia and the School of Law of the National University of Mongolia to discuss strengthening legislative exchanges and cooperation. “The ...
Legislation chief vows to root out discrimination
Minister of Government Legislation Kim Oe-sook has vowed to amend the nation’s legislation to root out discrimination in society. In a recent interview, Kim said she would make establishing a fair society her top priority. “I have always paid close attention to discrimination problems and our government is endeavoring to realize a fair society,” Kim said.
ASEAN nations need to curb exchanges with N. Korea
A growing number of nations are downgrading diplomatic ties with North Korea to deepen the Kim Jong-un regime’s isolation following its sixth nuclear test on Sept. 3. Most recently, on Sept. 18, Spain asked the North Korean ambassador in Madrid to leave the country by the end of September, becoming the first European country to expel a North Korean diplomatic envoy.
Few Koreans ready for jobs in new era
South Korea is losing its competitiveness as its education system has failed to grow global talent suitable for jobs in the era of the Fourth Industrial Revolution, according to James Rooney, vice chairman of the Seoul Financial Forum. He said that President Moon Jae-in’s policy focusing on creating more jobs in the public sector is a step in the wrong direction, calling for the government to build a vibrant private sector that can create more jobs. “Korea's economic situation has clearly been worsening for a number of years now. All the other negatives flow from that plus the lack of well t...
Trump's speech no prelude to military action
U.S. President Donald Trump’s latest threat to “totally destroy” North Korea does not necessarily mean the U.S. will take any immediate military action against the Kim Jong-un regime, analysts said Wednesday.
Moon urged to foil Kim's 'sidelining' strategy
President Moon Jae-in should thwart North Korean leader Kim Jong-un’s attempt to sideline South Korea, according to William Brown, an adjunct professor at the Georgetown School of Foreign Service. To that end, he called on Moon and his administration to reinforce ties with the U.S. and Japan, while beefing up missile capabilities to counter the North’s provocations. This advi...