[Editorial] Go ahead with Guantanamo closure

Seven years after issuing an executive order promising “promptly to close detention facilities at Guantanamo,” President Obama pleaded with a skeptical Congress on Tuesday to accept a plan to shut that facility in Cuba and relocate some detainees to secure facilities in the United States. Congressional consent is necessary because of a law -- signed, albeit reluctantly, by Obama -- that prohibits the use of federal dollars to transfer Guantanamo inmates to the U.S. or to build facilities in the

Feb. 26, 2016

[Editorial] Sino-U.S. accord

　　A consensus on North Korean sanctions by the U.S and China will be beneficial to South Korea, as this could delay Washington’s plan to deploy the Terminal High Altitude Area Defense system on the peninsula.　In return for an agreement on reprimanding North Korea, the U.S might decide to halt -- albeit temporarily -- the deployment of THAAD. This could help South Korea avoid clashing with China on the commercial front.  　Trade, Industry and Energy Minister Joo Hyung-hwan recently dismissed the p

Feb. 25, 2016

[Editorial] Risks on yen’s rise

The Korean won has continued to slide against the Japanese currency since the fourth quarter of last year. The yen has recently gained further as investors seek safe assets after “Brexit” worries led to a plunge in the value of the British pound.　The Japanese currency is hovering over 1,105 won per 100 yen, which is its strongest position since September 2013. The situation has reversed from just several months ago, when the yen was weak against the won because of Japan’s quantitative-easing mea

Feb. 25, 2016

[Editorial] On-site child care

From April, Korean companies will face tightened regulations on workplace nurseries as the government steps up efforts to raise Korea’s woefully low birthrate.　The new rules require workplaces with more than 500 employees or 300 female workers to provide on-site child care. A 2014 survey found there were 1,204 such workplaces in Korea.　If a company cannot run a workplace nursery on its own, it can either operate one jointly with other companies or outsource the care of employees’ children to nei

Feb. 24, 2016

[Editorial] Electoral map

The rival parties have finally struck an eleventh-hour deal on redrawing the electoral map, dispelling concerns about a possible delay in the coming April general election.　The ruling Saenuri Party and the main opposition Minjoo Party of Korea agreed Tuesday to increase the share of representative seats in the 300-seat National Assembly from 246 to 253, while reducing that of proportional ones from 54 to 47.　They also agreed on redistribution of the parliamentary seats among provinces and major

Feb. 24, 2016

[Editorial] IS terror risks mount

It is urgent for the government to raise the alarm and map out security measures against possible terror attacks from the jihadist extremist group the Islamic State, aside from its readiness posture over another North Korean provocation.　Seoul may have to take the terror threat more seriously than the habitual blackmail from Pyongyang. The nation is not safe from IS-led terrorism -- the militant group included South Korea twice, in September and November last year, as one of its future destinati

Feb. 23, 2016

[Editorial] Huawei in Korea, U.S.

Huawei Technologies has unveiled its vision to overtake Samsung Electronics in five years in smartphone market share, after beating the world’s second-largest manufacturer, Apple, by 2019.　The Chinese electronics company grabbed the No. 3 spot in smartphone shipments at the end of 2015, posting 44.3 percent annual growth. It is also targeting a 30 percent increase this year, which would bring its 2016 sales to over 140 million units.　Some market insiders in South Korea might say Huawei is too op

Feb. 23, 2016

[Editorial] Cameron‘s most worthy campaign yet

　U.K. Prime Minister David Cameron has reached a deal with Europe’s other leaders on new terms for Britain‘s membership in the European Union, and says the promised referendum on whether to remain in the EU will take place on June 23. He has four months to persuade a closely divided country to stay.　For the sake of the U.K. and the EU both, he needs to succeed -- but he’s leading a divided government and a divided Conservative Party. This isn‘t going to be easy.  　Michael Gove, the justice minis

Feb. 23, 2016

[Editorial] No more brinkmanship

A possible delay in the April general election is looming as the rivaling parties have yet to agree on a new electoral map and a set of key pending bills. 　The leaders of the ruling Saenuri Party and the main opposition Minjoo Party of Korea continue to engage in a dangerous game of brinkmanship, although the April 13 election is less than 50 days away. 　If the two parties fail to pass the bill on redrawing the electoral map within this month, a delay will be inevitable for the upcoming general

Feb. 22, 2016

[Editorial] Industrial unionism

The Supreme Court has handed down a verdict that could undermine industrial unionism and weaken the influence of the Korea Confederation of Trade Unions, the more militant of Korea’s two umbrella labor organizations.　The court ruled Friday that a union affiliated with an industrial union could decide on its own to end the affiliation and convert into an enterprise-based union, if it had “some degree of independence.”　Thus far, unions affiliated with an industrial union have been conceived merely

Feb. 22, 2016

[Editorial] Military lip service

The South Korean military is reportedly planning retaliatory countermeasures to the forewarned North Korean terror attacks. The administration’s recent hawkish position, no doubt, is in response to Pyongyang’s nuclear test and missile launch early this year.　Over the weekend, a senior military official’s remarks drew wide attention on social media. A senior defense-related official was quoted by the Herald Business, our sister news daily, as saying that “this time would be different from the pas

Feb. 21, 2016

[Editorial] BOK and household debt

The market is focusing on the latest data of outstanding loans to households as of December 2015, to be released by the Bank of Korea on Wednesday.　The nation’s combined household debt set an all-time high of 1.16 quadrillion won ($943 billion) as of September 2015, and is estimated to have reached a fresh record during the fourth quarter of last year.　Some analysts are interested in seeing whether household debt has surpassed the 1.2-quadrillion won mark on the back of active, last-ditch bank m

Feb. 21, 2016

[Editorial] Terror threats

North Korean leader Kim Jong-un has reportedly ordered preparations for terror attacks against South Korea. The North’s Reconnaissance General Bureau, an organization responsible for clandestine operations and intelligence gathering, has been accordingly preparing for such attacks, said a ruling party lawmaker Thursday, citing information from the National Intelligence Service.　The NIS shared its information with lawmakers on the National Assembly’s Intelligence Committee and officials of the Mi

Feb. 19, 2016

[Editorial] Rosy projections

The government’s investment promotion package announced Wednesday was, simply put, long on hope and rhetoric but short on action. 　The package features a long list of measures aimed at encouraging corporate investment in new technology businesses and the service industry. But if past experience is any guide, their feasibility is very much in doubt in light of the regulatory problems involved.　The government may well focus on private-sector investment to prop up the sagging economy. With exports

Feb. 19, 2016

[Editorial] THAAD disputes

NIMBYism, or not-in-my-backyard syndrome, is everywhere in the world. But in Korea, it is often exacerbated by political and ideological factors, as seen in the cases of the construction of nuclear waste storage facilities and naval bases. 　Usually liberals, civic activists and environmentalists join residents to fan fires of activism against key state projects.  　Sadly, it is very likely that we will witness the familiar scene again — this time over the planned deployment of the advanced U.S. m

Feb. 18, 2016

[Editorial] Connections matter

The Park Geun-hye administration indulges in favoritism in appointments to public office as much as previous administrations. The latest noise comes from the National Pension Service. 　Kang Myun-wook, former CEO of Meritz Asset Management Co, took over this week as chief investment officer of the NPS. He will be in charge of investing the 510 trillion won ($410 billion) fund managed by the country’s biggest investor.　Kang’s appointment drew skepticism from the financial industry, with some point

Feb. 18, 2016

[Editorial] Ambiguous stance

The Gaeseong complex incident has created another split in public opinion over state policy, following the Education Ministry’s plan to publish uniform national history textbooks and the Foreign Affairs Ministry’s deal with Tokyo on sex slavery victims during World War II.　If a dominant percentage of citizens had supported the government’s closure of the inter-Korean industrial park, there would have been little need for President Park Geun-hye to deliver a speech at the National Assembly.　Her c

Feb. 17, 2016

[Editorial] Volatile crude prices

South Korea is enjoying cheap crude prices even though some industrial sectors, such as those of petrochemicals and oil plant construction, are estimated to have suffered sales slowdowns.　Crude prices, which have stayed below $50 a barrel since July 2015, have eased costs for a large portion of manufacturers and households. Prices are now staying at about $30 a barrel.　However, there are signs that oil prices could reverse direction, as some producers on Tuesday effectively agreed to refrain fro

Feb. 17, 2016

[Editorial] Aid for Gaeseong firms

The government is working hard to provide assistance to the companies that operated in the suspended Gaeseong Industrial Complex, but officials of these companies are complaining about insufficient government measures to compensate for their losses.　The government has formed a special task force consisting of officials from relevant ministries. The team has come up with a package of measures after holding one-on-one consultations with all of the 123 companies that have factories in Gaeseong.　The

Feb. 16, 2016

[Editorial] Pressure on China

South Korea and the United States are rushing to mete out strong unilateral sanctions on North Korea, stepping up pressure on China to move toward tougher U.N. Security Council sanctions against the rogue state for its nuclear and missile provocations. 　Following Seoul’s surprise decision on Feb. 8 to shut down the Gaeseong industrial complex, the United States Congress approved a package of stringent sanctions against the North with unusual swiftness. 　The U.S. House of Representatives passed t

Feb. 16, 2016