KoreaTimes(202) - Editorial, Opinion, page 9

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Opinion

Editorial

Thu, October 28, 2021 | 20:31

Inappropriate appointment

Korea Growth Investment Corp. (K-Growth), the operator of the “New Deal Fund” aiming to shift the Korean economy from a carbon-intensive to a green economy, plans to appoint Hwang Hyun-seon, a former presidential official with no financial expertise, as its investment executive. K-Growth is vulnerable to the government's influence, as several state enterprises are participati...

2021-09-05 17:00

Tech-intensive defense blueprint

On Thursday, the Ministry of National Defense unveiled its 2022-2025 blueprint featuring a plan to invest 315.2 trillion won ($271.8 billion) to enhance the military's combat capabilities. According to the plan, the defense budget, which currently stands at 50 trillion won, will increase 6 percent annually to reach 70 trillion won in 2026. The ministry's plan seems inevitable...

2021-09-03 16:50

Growing burdens

Unemployment benefits are one of the key pillars of the country's social safety net. They have played a crucial role in helping laid-off workers muddle through difficulties arising from the COVID-19 pandemic. However, the government faces backlash from both workers and businesses over its plan to collect higher premiums for unemployment insurance.

2021-09-02 17:06

Failed sale of dairy firm

The sale of Namyang Dairy Products, the nation's second-largest dairy firm, has finally fallen through. In May, Chairman Hong Won-sik and his family signed a deal with local private equity fund Hahn & Company to sell a 53 percent stake for 310.7 billion won ($268 million). On Wednesday, however, Hong said the company informed the would-be buyer of its decision to rescind the ...

2021-09-02 17:00

Useless electronic anklets

The nation is reeling from the shock of a horrible crime in which a man with 14 previous convictions, who had cut off his electronic monitoring anklet, turned himself in to police and confessed he had killed two women. The man surnamed Kang, 56, is suspected of murdering a woman Thursday before breaking off his anklet Friday and killing another woman Sunday.

2021-09-01 17:00

Record-high budget plan

On Tuesday, the government proposed a budget of 604.4 trillion won ($518.4 billion) for next year, up 8.3 percent from this year's 558 trillion won. The record-high budget represents an increase of more than 200 trillion won from 2018, the first year of President Moon Jae-in administration. The annual budgets have continued to increase 8 percent to 9 percent every year since ...

2021-09-01 17:00

Step in wrong direction

A U.N. watchdog's report on North Korea's presumed resumption of the operation of its main nuclear reactor is bad news for South Korea and the United States. The International Atomic Energy Agency (IAEA) said in its annual report that North Korea appears to have restarted its plutonium-producing reprocessing reactor in the Yongbyon nuclear complex, north of Pyongyang.

2021-08-31 17:05

Squeeze of bank lending

Household loans by non-banking financial institutions, including savings banks and credit card companies, have surpassed 535 trillion won ($459 billion). The figure marked an increase of nearly 8 percent from a year ago. It results from banks' tightening of household loans, driving borrowers with low credit ratings toward non-banking lenders.

2021-08-31 17:00

Thorough probes into lawmakers

Controversy is growing over Rep. Yun Hee-suk of the main opposition People Power Party (PPP) since she declared she would give up her Assembly seat over her father's purchase of farmland in the new administrative town of Sejong. Yun said that though she was never involved in any illegal real estate dealings, she would forsake her seat to assume her political responsibility.

2021-08-30 17:00

Apology from intelligence chief

National Intelligence Service (NIS) director Park Jie-won apologized Friday for the spy agency's illegal surveillance of civilians and political interference in the past and vowed not to repeat such blunders.

2021-08-30 16:09

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