The Korea Herald

[Editorial] Tax revenue shortfall

Disputes are heating up in South Korea over whether the Yoon Suk Yeol administration should go ahead with its controversial tax-reduction initiatives even though revenue is forecast to decline this year as a result of sluggish corporate earnings. The country’s tax revenue stood at 151 trillion won ($108.6 billion) during the first five months of this year, down 9.1 trillion won, or 5.7 percent, from a year earlier, according to the Ministry of Economy and Finance. The main culprit was a sh

EditorialJuly 3, 2024

[Contribution] Scientific policing's role in S. Korea's public safety

By Kang Sang-gil In an unprecedentedly short period, South Korea achieved remarkable economic development, often referred to as the "Miracle on the Han River." Since the 2000s, international organizations such as the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Bank, the Development Assistance Committee and the Paris Club have acknowledged South Korea's status as an advanced nation. In 2010, Seoul hosted the G20 Summit. In July

ViewpointsJuly 2, 2024

[Contribution] Scientific policing's role in S. Korea's public safety

[Grace Kao] BTS Jin’s hugs and idols’ 'fan service'

Immediately following BTS member Jin’s completion of his military service, he hosted an event where he hugged 1,000 fans. Apparently, he wanted to hug even more people than that, but HYBE had to talk him down. Still, the event was not without incident -- there are videos of multiple women taking the opportunity afforded by a hug to kiss him. I find this behavior disgusting and I’m glad that the suspects have been charged with sexual assault. Still, this event was one where hugs wer

ViewpointsJuly 2, 2024

[Grace Kao] BTS Jin’s hugs and idols’ 'fan service'

[Editorial] Change the course

These days, the ruling and opposition parties are caught in a spiral of political strife on almost every issue. However, when it comes to supporting the semiconductors industry, they are showing there is a possibility of cooperation. While foreign countries have striven to enhance international competitiveness of their industries, the main opposition Democratic Party of Korea has been negative on government plans to support Korean chipmakers, condemning them as “special favors for large co

EditorialJuly 2, 2024

[Lee Kyong-hee] Don’t write off unification

I have a sister who lives -- or lived -- in North Korea. The Korean War separated my family and she ended up in the North. We met once since then, at Mount Kumgang across the DMZ, before inter-Korean family reunion events were suspended. We had only hours to bridge six decades of separation. Yet, the opportunity of the 2009 reunion was a godsend for my family, especially for my mother, who turned 100 that year. She lived 10 more years, probably waiting for another chance to see her daughter but

ViewpointsJuly 1, 2024

[Lee Kyong-hee] Don’t write off unification

[Editorial] Disparity in outlook

South Korea’s industrial output, retail sales and facility investment all fell simultaneously in May from a month earlier, marking the first “triple minus” in 10 months. Exports continued to stay firm, but domestic indicators such as weak consumption indicate a slower recovery than the government’s upbeat outlook. The government’s official view is that the country’s economy is on a recovery path on the strength of robust exports. But the negative turn of all t

EditorialJuly 1, 2024

[Robert Fouser] Trump on course to win

Thursday’s presidential debate between Joe Biden and Donald Trump marked the beginning of the final stretch of the race for the White House. Next up are the Republican convention in July, the Democratic convention in August and another debate on Sept. 10. Traditionally, the final stretch of the campaign begins after Labor Day in early September, but the early debate has lengthened the campaign season. Where does the race stand now and what does it mean for South Korea? According to the New

ViewpointsJune 28, 2024

[Editorial] Predictability matters

The Financial Services Commission, South Korea’s top financial regulator, has suddenly delayed the planned implementation of the second phase for tighter debt service ratio limits. But the delay is feared to send misleading signals to the financial and real estate markets. The FSC announced Tuesday that tougher rules on household loans will be applied from the beginning of September, instead of July. The decision for the two-month delay came less than a week before the new rules were to be

EditorialJune 28, 2024

[Wang Son-taek] New strategy after the treaty in Pyongyang

On June 19, North Korea and Russia signed a historic partnership treaty in Pyongyang. The strategic and comprehensive treaty exceeded general predictions and was evaluated as restoring the military alliance. The restoration of the alliances drew keen attention from major media worldwide as it shook the strategic balance around the Korean Peninsula. A controversial topic of South Korea's nuclear armament has been revived in Seoul and Washington. The South Korean government also strongly cond

ViewpointsJune 27, 2024

[Wang Son-taek] New strategy after the treaty in Pyongyang

[Ana Palacio] Putin-Kim pact offers opportunity

June has been a busy month for Russian President Vladimir Putin. In a speech at Russia’s Ministry of Foreign Affairs, he outlined his terms for peace negotiations with Ukraine and proposed establishing an alternative international security system in collaboration with China. A week later, during a two-day visit to Pyongyang, he signed a strategic defense pact with North Korean dictator Kim Jong-un. Russia and North Korea pledged to provide each other with immediate military assistance in t

ViewpointsJune 27, 2024

[Ana Palacio] Putin-Kim pact offers opportunity

[Editorial] Youth job blues

The number of young working-age people who are unemployed and yet refuse to look for jobs has begun to increase again after falling for nine months. A Statistics Korea survey released Sunday found that 398,000 people aged 15 to 29 “just rested” at home last month doing nothing to make money or search for jobs. The figure was up 13,000 from a year earlier. Most unemployed people look for jobs, but these people do not. They give up seeking jobs and just take a rest though they have no

EditorialJune 27, 2024

[Kim Seong-kon] Those who don the mask of justice

We often confuse justice with revenge and punish someone we hate in the name of justice. Indeed, personal acts of vengeance and political vendettas tend to wear the mask of justice. That is why Michel Foucault warned us; “Justice must always question itself, just as society can exist only by means of the work it does on itself and on its institutions.” Indeed, we should cast doubt on the people who claim that they can bring justice to our society, because what is called “justic

ViewpointsJune 26, 2024

[Kim Seong-kon] Those who don the mask of justice

[Editorial] Improve safety standards

A massive fire broke out at a lithium battery plant in Hwaseong, Gyeonggi Province, Monday, leaving 23 people dead and eight injured. As one of the worst chemical plant accidents in South Korea, it raises questions about the cause of the fire and the lack of safety measures. All the deceased victims were found on the second floor of the gutted warehouse at the plant of lithium battery maker Aricell, where the fire started at 10:31 a.m. Monday. Firefighters rushed to the three-story, reinforced c

EditorialJune 26, 2024

[Grace Kao] Six degrees of Astro's JinJin

Life is full of surprises, and you never know where it will take you. This was the theme of my recent meeting and dinner with JinJin of Astro. JinJin is the leader and main rapper of the boy group. Hit singles included their bubbly debut song, “Hide & Seek,” and later songs such as “Crazy Sexy Cool,” “Blue Flame,” “After Midnight,” and “Candy Sugar Pop.” Most recently, Astro released the single “Circles” to celebrate the eig

ViewpointsJune 25, 2024

[Grace Kao] Six degrees of Astro's JinJin

[Editorial] Food prices too high

Food is 56 percent more expensive in Korea than in member countries of the Organization for Economic Cooperation and Development, according to a Bank of Korea report last week. Prices of clothing and shoes were 61 percent higher than the OECD average last year. Housing was 23 percent more expensive. On the other hand, electricity, natural gas and water bills were 36 percent cheaper than the OECD average. This is largely because the government suppresses the prices artificially for political reas

EditorialJune 25, 2024

[Yoo Choon-sik] What MSCI’s assessment means for South Korea

South Korea again failed to obtain the reclassification of its stock market as a developed market by global index provider MSCI after the country reimposed a full ban on stock short selling, which overshadowed positive assessment among foreign investors of the country’s efforts to lower the barrier for access to financial markets here. According to a statement released last week, Morgan Stanley Capital International recognized and welcomed some of the measures that South Korea has announce

ViewpointsJune 24, 2024

[Yoo Choon-sik] What MSCI’s assessment means for South Korea

[Mary Rasenberger] Pay for art used to train AI

Amid the hype surrounding Apple’s new deal with OpenAI, one issue has been largely papered over: The AI company’s foundational models are, and have always been, built atop the theft of creative professionals’ work. The arrangement with Apple isn’t the only news from OpenAI. Among recent updates and controversies including high-level defections, last month the company quietly announced Media Manager, scheduled for release in 2025. A tool purportedly designed to allow creat

ViewpointsJune 24, 2024

[Mary Rasenberger] Pay for art used to train AI

[Editorial] Turning point

The abrasive confrontation between the Yoon Suk Yeol administration and doctors over the increase in the medical school enrollment quota faces a turning point after medical professors at the hospitals affiliated with Seoul National University decided to end their collective action and a new body representing more doctors was launched. Medical professors who serve as senior doctors at Seoul National University Hospital announced Friday that they would end an indefinite walkout amid mounting conce

EditorialJune 24, 2024

[Editorial] Dangerous cooperation

North Korean leader Kim Jong-un and Russian President Vladimir Putin signed a new “comprehensive strategic partnership” treaty in Pyongyang on Wednesday, a development that has triggered concerns about heightened geopolitical tensions on the Korean Peninsula. Under the comprehensive strategic partnership, North Korea and Russia agreed to offer military assistance “without delay” by mobilizing all means possible if either is attacked, according to the full text of the trea

EditorialJune 21, 2024

[Serendipity] Lost in Yunchan Lim's universe

I almost did not make it to pianist Yunchan Lim’s recital at the Bucheon Art Center on Monday night. In my harried state after work, I got Bucheon and Bupyeong mixed up and called for a cab to the Bupyeong Art Center. Both Bucheon and Bupyeong are cities in Gyeonggi Province, about 30 minutes apart by car. Both have an art center. The 1,445-seat concert hall was packed, tickets for Lim’s recital having sold out in 50 seconds. Among those in the audience were 15 lucky Bucheon resident

ViewpointsJune 20, 2024

[Serendipity] Lost in Yunchan Lim's universe