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Opinion

Editorial

Thu, January 21, 2021 | 01:11

Bid to restart talks

President Moon Jae-in tapped former national security adviser Chung Eui-yong as his new foreign minister Wednesday, replacing Kang Kyung-wha. The nomination is taken to mean Moon's unswerving determination to revive the “peace process” on the Korean Peninsula, which has remained stalled since the collapse of a second North Korea-U.S. summit in Hanoi in February 2019.

Shim Jae-yun2021-01-20 17:10

Introducing 40-year mortgages

The financial authorities have unveiled a plan to introduce mortgages with a maturity of 40 years to help young adults more easily buy a home. In a new year business plan announced Tuesday, Financial Services Commission (FSC) Chairman Eun Sung-soo said the loan program will start as a pilot project in the second half of the year for young people, newly-wed couples and first-t...

2021-01-20 17:00

Break corrupt ties

Samsung Electronics Vice Chairman Lee Jae-yong was put behind bars again Monday immediately after he was sentenced to two-and-a-half years in prison for bribery and embezzlement in connection with a corruption scandal that led to the ouster of former President Park Geun-hye. The sentence is a reminder that no one is above the law, and also sent a clear message that conglomera...

Park Yoon-bae2021-01-19 17:10

Overcoming COVID-19 crisis

The Korean economy has recovered about 80 percent of its vigor from the depths it had plunged to due to the COVID-19 pandemic, according to a recent report, which also stated, however, that the recovery in employment was a mere 25 percent of the pre-coronavirus level. The report attributed this limited recovery to the unprecedented job crisis of last year, when the number of ...

2021-01-19 17:00

Out of touch with reality

President Moon Jae-in failed to present any new policies or overtures at his New Year press conference Monday, only repeating what he had previously stated or had in mind. This failure was especially evident in foreign affairs and security issues. He only expressed his willingness to meet with North Korean leader Kim Jong-un any time at any place.

Shim Jae-yun2021-01-18 17:00

Dispute over relief funds

The Gyeonggi Provincial Government has decided to provide another round of disaster relief funds for everyone living in the province. The decision was made in the form of Governor Lee Jae-myung accepting a proposal from the Gyeonggi Province Assembly, which argued that the provision of relief funds was necessary to help residents struggling with the prolonged coronavirus pand...

2021-01-18 16:45

Soaring debt risk

All economic players - households, businesses and government - have recorded a surge in their debt due to the COVID-19 pandemic. This is raising the need for an exit strategy to avoid a debt crisis before it is too late.

Park Yoon-bae2021-01-17 16:51

Redevelopment housing project

The government has selected eight areas in Seoul for a pilot redevelopment project by public builders to supply high-quality housing around subway stations. If the project proceeds as planned, it will supply 4,763 homes, an increase of 3,059 added to the existing 1,704 in the city. The number may not be so large as to exert significant influence on the housing market, however...

2021-01-17 16:50

Precondition of special pardons

Seoul's top court Thursday confirmed a 20-year prison term for former President Park Geun-hye, wrapping up years of trials. The verdict came three years and nine months after she was convicted of abuse of power, misappropriating funds from the National Intelligence Service and taking bribes from conglomerates.

2021-01-15 17:14

Unemployment shock

South Korea saw nearly 220,000 jobs last year disappear from 2019, the largest loss since 1998 when the country was hit by the Asian financial crisis. The employment shock stemmed from the unprecedented COVID-19 pandemic.

Park Yoon-bae2021-01-14 17:10

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