KoreaTimes(202) - Editorial, Opinion, page 5

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Opinion

Editorial

Fri, October 22, 2021 | 18:34

Crypto market oligopoly

The nation's cryptocurrency market is facing drastic changes, as only four exchanges - Upbit, Bithumb, Coinone and Korbit - were able to secure real-name accounts in partnership with local banks by the Sept. 24 deadline. Securing real-name accounts is an obligation for traders to buy and sell cryptocurrencies in exchange for the Korean won under the Act on Reporting and Using...

Shim Jae-yun2021-09-27 17:00

Inappropriate pressures

The U.S. administration is taking flak for having asked global semiconductor makers including Samsung Electronics to submit data on their supply and demand, inventory, ordering and customer sectors. The White House made the request during a virtual meeting it hosted with representatives from major automobile and chip manufacturers, Thursday.

Shim Jae-yun2021-09-27 17:00

Signaling shift of stance

North Korea has shown signs of a change in its hardline stance toward South Korea, raising hopes for the resumption of stalled inter-Korean dialogue. On Saturday, Kim Yo-jong, North Korean leader Kim Jong-un's sister, gave a positive response to President Moon Jae-in's proposal to declare a formal end to the 1950-53 Korean War.

Park Yoon-bae2021-09-26 17:06

Global financial squeeze

Financial markets both here and abroad are becoming increasingly volatile, affected by the impending U.S. tapering of asset purchases and interest rate hikes. Washington's decision comes amid mounting concerns that a possible default by the Chinese property developer, Evergrande Group, could send shockwaves throughout the financial system. Suppose the worst-case scenario beco...

2021-09-26 16:59

Electricity rate hike

The Korea Electric Power Corp. (KEPCO) said Thursday that it plans to raise electricity prices in the fourth quarter of this year. The price increase will be 3 won ($0.0025) per kilowatt hour for the three-month period from October, with the termination of the current discount of the same amount of money, the state-run firm said. This means an average four-member household wi...

Shim Jae-yun2021-09-24 16:52

Market jitters grow

Global financial markets have shown a jittery reaction to the prospective default of China's second-largest real estate developer Evergrande Group. The group has been pressured to pay huge sums in interest payments on its $300 billion (355 trillion won) debt. In a filing posted on China's social media platform Weibo, Wednesday, the company said it had resolved the issue of yu...

Shim Jae-yun2021-09-23 17:05

Flawed health insurance

A few foreign nationals here are deriving excessive benefits from the national health insurance system at the cost of domestic subscribers. According to data independent lawmaker Lee Yong-ho received from the National Health Insurance Service, one Chinese citizen residing in Korea received about 3.3 billion won ($2.8 million) in medical treatments over the last five years, wh...

Park Yoon-bae2021-09-23 17:00

Repeated peace offer

President Moon Jae-in once again proposed a formal end to the 1950-53 Korean War in his speech to the 76th session of the U.N. General Assembly, Tuesday. The proposal reflected his desperate bid to make a breakthrough in deadlocked denuclearization talks between the U.S. and North Korea and promote his peace initiative on the Korean Peninsula.

Park Yoon-bae2021-09-22 16:56

Fall in potential growth rate

The Bank of Korea (BOK) has estimated the potential growth rate for the national economy at 2 percent for this year and 2022. The comparable rate for 2020 and 2019 was around 2.2 percent. Potential growth rate refers to the maximum possible rate an economy can grow without triggering inflation. The latest estimate represents a decline of 0.3 to 0.4 percentage points from thre...

2021-09-22 16:55

Food security plan

The government announced a plan Thursday to ensure a stable food supply for the people by expanding storage facilities and the basis for the procurement of staple grains. According to the 2021-2025 National Food Program, public rice reserves, currently standing at 350,000 tons per year, will be increased to 450,000 tons from next year. It is also seeking to increase self-suff...

Shim Jae-yun2021-09-17 17:00

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