Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Man who let his father die due to financial difficulties to be released on parole
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Actor Yoo Ah-in accused of sexual attack
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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[Editorial] Longer working life
The number of Korean people still working at 70 and above increased by 150,000 in the first half of this year from a year earlier. It was the largest increase since related statistics began to be compiled in 2018, according to Statistics Korea. The population of employees aged 15 years and over expanded by 220,000, largely led by senior workers. Workers in their 60s and above increased by 282,000, posting the sharpest increase among age groups. Considering Korea’s working-age population is
EditorialJuly 16, 2024
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[Lee Kyong-hee] Syngman Rhee gets a shaky makeover
Syngman Rhee died in exile 59 years ago. Time has not tempered visceral reactions to his mention. To his supporters, he was an astute politician, savvy diplomat, staunch anti-communist and wrongly accused leader. To his detractors, he was a corrupt, vain, power-hungry authoritarian who did little to end postwar poverty. In 1919, Rhee was elected president of the Korean Provisional Government in exile to confront Japanese imperialism. In 1948, he became president of the newly independent Republ
ViewpointsJuly 15, 2024
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[Yoon Young-kwan] What to make of Russia-NK alliance
Not content with disturbing the peace in Europe, Russian President Vladimir Putin recently signed a comprehensive strategic partnership treaty with his North Korean counterpart, Kim Jong-un. As troubling to China’s leaders as it is to Western officials, the deal is shaking up the geopolitics of Northeast Asia and sending reverberations around the world. Despite the strategic unease that Putin has provoked, the West must be careful neither to overestimate nor underestimate the treaty&rsq
ViewpointsJuly 15, 2024
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[Editorial] Reform wage commission
South Korea has finalized the minimum wage for 2025 at 10,030 won ($7.3) per hour, marking the first time the compulsory hourly minimum wage has surpassed 10,000 won. The tripartite Minimum Wage Commission, which is composed of nine members each from labor, business and the public sector, opted for an increase of 170 won, or 1.7 percent, from last year’s rate of 9,860 won. It is the second-lowest increase on record, in percentage terms. The new rate translates as 2.1 million won per month,
EditorialJuly 15, 2024
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[Robert Fouser] Toward sustainable tourism in Seoul
Tourism around the world is booming this year, building on several years of recovery from the disruptions of the COVID-19 pandemic. Seoul, of course, is no exception, as any walk through Myeong-dong reveals. Empty two years ago, the area is now full of international tourists and shops are doing a booming business. Other areas of Seoul, such as Bukchon, Hongdae and Seongsu-dong are full of international tourists. Myeong-dong’s recovery and the ongoing tourist boom are part of a long-term tr
ViewpointsJuly 13, 2024
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[Editorial] Health insurance deficit
South Korea’s public health system is still mired in a protracted dispute between the government and doctors over the medical school enrollment quota. On top of the current debacle, there is a potentially devastating problem that needs more attention from policymakers: the growth of the country’s health insurance deficit. According to research submitted to the Korean Association of Health Economics and Policy, the accumulated deficit of Korea’s health insurance will top 563 tri
EditorialJuly 12, 2024
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[Room Tone]Industry premieres: Glitz, glamour and grind
Industry film premieres are a delicate high-wire act where glitz and glamour can quickly devolve to grind, depending on your bias toward large social gatherings. From the stressful hunt for parking to navigating the after-party, the night is abundant with the complexities of a blockbuster film production. First off, dress code: Assuming you aren’t walking the photo line, there is none. Its important to note that during the winter months, the theaters really crank up the thermostat
ViewpointsJuly 11, 2024
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[Wang Son-taek] Yoon needs to work on diplomacy, not just security
As South Korea and Russia exchanged vulgar words again, the relationship between the two countries reached a new low. The trouble began on July 8 with a foreign media interview of President Yoon Suk Yeol ahead of his attendance at the NATO summit in Washington. He said Russia should consider who is more important to Russia between South and North Korea. He then warned that South Korea's possible provision of weapons to Ukraine depends on the level and content of cooperation between Russia a
ViewpointsJuly 11, 2024
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[Editorial] Watch CIO probe
President Yoon Suk Yeol on Tuesday vetoed a bill mandating a special counsel investigation into alleged external pressure on the military response to a Marine’s death. It is a reasonable veto. A bill for a special counsel probe of the case was first proposed by the main opposition party and passed the previous National Assembly, but Yoon sent it back to the Assembly on May 21. It failed to pass an Assembly re-vote on May 28. The Democratic Party of Korea proposed a modified version of the
EditorialJuly 11, 2024
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[Kim Seong-kon] Conspicuous forms of discrimination in our society
Anyone who has lived in South Korea long enough has likely encountered subtle or even open forms of discrimination. Perhaps one of the most conspicuous forms of discrimination in Korea is ageism. Ageism is taboo in most advanced countries, but in Korea, a supposedly Confucian country, many people openly practice it. Not long ago, our newspapers were full of headlines declaring the urgency of revoking senior citizens’ privilege of riding the subway for free or carrying out pension reforms t
ViewpointsJuly 10, 2024
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[Ylli Bajraktari] NATO must confront disinformation
NATO’s July summit in Washington marks the 75th anniversary of the alliance’s establishment, and it comes at a critical juncture. As threats to global stability evolve beyond conventional military domains, NATO must confront the barrage of disinformation undermining its unity and values. Specifically, member countries must prevent hostile authoritarian regimes from manipulating public opinion by leveraging technology to wage “cognitive warfare.” Fittingly, the summit is e
ViewpointsJuly 10, 2024
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[Sung Soo Eric Kim] Why generative AI must be regulated
I visited the Louvre Museum a couple of months ago, where legends and mythologies of humankind are preserved. Before the age of scientific reasoning in the 19th century, humankind lived based on beliefs and myths since we could not prove or scientifically reason what someone else observed. What became a legend and then a truth was based on what we wanted to see as a truth from a compelling story told by others. We could record what we see with modern recording technology during the Industrial Re
ViewpointsJuly 10, 2024
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[Editorial] Tighten loan conditions
South Korea’s household loans surged at an embarrassing pace last week, ringing alarm bells for financial authorities over local home buyers rushing to take out mortgage loans from banks, often beyond their repayment capacity, in a bid to ride a recovery period in the housing market. The combined household loans from the country's five major banks -- KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NongHyup Bank -- climbed by around 2.2 trillion won ($1.6 billion) in the first
EditorialJuly 10, 2024
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[Editorial] Impeachment right abuse
The main opposition party’s recent move to impeach prosecutors is hard to accept from a common-sense point of view. It seems ill-founded and threatens to undermine the rule of law. The Democratic Party of Korea proposed a motion last week to impeach four prosecutors, three of whom either investigated or commanded investigations of allegations linked to its former leader, Rep. Lee Jae-myung. The complaints include concerns about development projects and Ssangbangwool Group’s illegal c
EditorialJuly 9, 2024
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[J. Bradford DeLong] How humanity lost control
How can we be at least 15 times richer than our pre-industrial Agrarian Age predecessors, and yet so unhappy? One explanation is that we are not wired for it: Nothing in our heritage or evolutionary past prepared us to deal with a society of more than 150 people. To operate our increasingly complex technologies and advance our prosperity, we somehow must coordinate among more than 8 billion people. We therefore have built massive societal machines comprising market economies, government and corp
ViewpointsJuly 9, 2024
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[Ana Palacio] The global implications of Iran’s election
The first round of Iran’s presidential election unfolded with little fanfare last weekend. But as the country prepares for a runoff -- in which voters will choose between the reformist Masoud Pezeshkian and the hardline anti-Western Saeed Jalili -- the world should be paying attention. At a time of deep tensions and shifting alliances, the results will reverberate across the region and beyond. The election’s backdrop is messy, to say the least. The death of Iran’s last presiden
ViewpointsJuly 8, 2024
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[Yoo Choon-sik] What foreign investors want from South Korea
One of the most frequently discussed phrases this year in South Korea regarding the economy and financial markets was "Korea Discount,’" and the government has made addressing this issue one of its top economic policy goals. In fact, President Yoon Suk Yeol has presided over high-profile meetings to discuss ways to address the issue, and relevant government agencies have either taken steps or promised to do so. The phrase "Korea Discount" refers to the local stock m
ViewpointsJuly 8, 2024
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[Lee Byung-jong] The disappearing incumbency premium
Across the globe, existing political power is being challenged and toppled. Sitting presidents, prime ministers and ruling parties are being badly beaten. Just last week, the Conservative Party in the UK lost its power for the first time in 14 years. A week earlier, French President Emmanuel Macron’s party faced a similar fate. Ruling parties in India and South Africa lost their majorities in parliamentary elections for the first time in decades. And let’s not forget South Korea&
ViewpointsJuly 8, 2024
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[Editorial] Samsung’s surprise earnings
Samsung Electronics, the indisputable market bellwether in South Korea, tends to affect investor sentiment strongly. This fact was well demonstrated Friday when its better-than-expected second-quarter earnings prompted investors to cheer, which in turn helped the Kospi close higher. Samsung said in a regulatory filing Friday that it expects operating profit for the April-June period to reach 10.4 trillion won ($7.5 billion), up 1,452 percent from 670 billion won a year ago, helped by the recover
EditorialJuly 8, 2024
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[Editorial] Rift over media control
The Korea Communications Commission has gone through a fast-paced reshuffle of the top position this week, touching off a dispute over the broadcasting watchdog’s irregular and unilateral decision-making structure, amid concerns about its failure to stay independent and process regulatory policies based on a consensus-based system. On Tuesday, President Yoon Suk Yeol accepted the voluntary resignation of KCC Chairman Kim Hong-il in the face of an impeachment vote in the National Assembly,
EditorialJuly 5, 2024