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Editorial

Wed, March 29, 2023 | 15:57

Extending 52-hour workweek

A blue-ribbon panel to reform the labor market has unveiled a plan to change the working hour system. Last Thursday, the presidential Future Labor Market Research Committee presented a direction to revise the current 52-hour workweek. The plan calls for, among others, modifying the extended working hour management period from the current weekly to monthly or longer units.

2022-11-20 16:46

Budget plan under attack

Rival political parties are bickering over next year's budget worth 639 trillion won ($476 billion). The budget settlement committee of the National Assembly started deliberating on the 2023 fiscal expenditure plan Thursday, but faces a bumpy road due to a bitter disagreement between the ruling People Power Party (PPP) and the main opposition Democratic Party of Korea (DPK).

2022-11-18 17:00

Setting new milestone

Saudi Crown Prince Mohammed bin Salman's visit to South Korea is expected to deepen economic cooperation between the two countries. His trip here, the first since June 2019, comes as Seoul and Riyadh mark the 60th anniversary of diplomatic ties this year.

Park Yoon-bae2022-11-17 17:04

Delayed acquisition process

Another foreign antitrust agency has decided to suspend the approval of Korean Air's acquisition of Asiana Airlines. The U.S. Department of Justice reportedly said Tuesday it would watch more of Korean Air's remedies to address the regulator's concerns over the planned acquisition before deciding whether to approve it. A day earlier, Britain's Competition and Markets Authorit...

2022-11-17 16:06

China should do more

President Yoon Suk-yeol had a summit with Chinese President Xi Jinping on the sidelines of the G-20 Summit in Bali, Indonesia, Tuesday. The meeting was the first face-to-face event since Yoon took office in May. It was also the first of its kind since December 2019 when Yoon's predecessor Moon Jae-in met Xi. It was symbolic, but significant in that it came amid a growing need...

Shim Jae-yun2022-11-16 17:00

Naming Itaewon victims

Two online media outlets created a stir Monday by publishing the names of 155 of the victims of the Itaewon crowd crush without the consent of their families. This was the first time that an almost complete list of the Itaewon disaster, which has claimed 158 lives as of Tuesday, has been disclosed.

Park Yoon-bae2022-11-16 16:21

Differences still remain

U.S. President Joe Biden and his Chinese counterpart Xi Jinping sought to “manage differences” on contentious issues during their landmark in-person meeting on the sidelines of the G-20 summit in Bali, Indonesia, Monday. Fortunately, they toned down the Cold War rhetoric to prevent already-tense U.S.-China relations from deteriorating further.

Park Yoon-bae2022-11-15 17:01

Chaotic crypto market

Cryptocurrency markets are fluctuating wildly, following the bankruptcy filing by FTX, the world's third-largest crypto exchange. Now, Crypto.com, which is in the top 10, is also faltering. Cryptocurrency transactions have no borders. Although these exchanges are based overseas, domestic investors who traded on FTX risk losing all their deposits. Investors who purchased coins...

2022-11-15 16:17

Strengthened deterrence

The leaders of South Korea, the United States and Japan have agreed to strengthen security cooperation to deter North Korea's missile and nuclear threats. In a trilateral summit held in Phnom Penh on Sunday, they also vowed to deliver a “strong and resolute” response if North Korea conducts its seventh nuclear test.

Shim Jae-yun2022-11-14 17:06

Artillery shell exports to US

The Ministry of National Defense has confirmed that South Korea was negotiating with the United States to export 155-millimeter artillery shells to the U.S. to shore up diminishing inventories. In a statement Friday, the defense ministry said the negotiations to export ammunition are under the premise that the U.S. is the end user.

Park Yoon-bae2022-11-14 16:15

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