[Editorial] Crimes that aid the enemy

It seems that almost all relevant government agencies and law-enforcement authorities are being mobilized to tackle corruption in defense acquisition programs. The Board of Audit and Inspection has launched an extensive examination of the research and development programs for the nation’s weapons systems, targeting the Defense Acquisition Program Administration, Defense Ministry and the Agency for Defense Development, among others.The ruling party is going to form a task force to, in the words o

Nov. 7, 2014

[Editorial] Our unhappy children

Our young ones are profoundly unhappy, casting a pall over the country’s future.According to the 2013 survey on the state of children in Korea released by the Health and Welfare Ministry, among children 17 and younger, the satisfaction with life index stood at 61.5 out of a possible 100. Among the OECD nations, our children were the least satisfied with life. The index looks at stress from academics, school violence, Internet addiction, neglect and cyberbullying. In the child deprivation index,

Nov. 6, 2014

[Editorial] Let Ban be

Facing growing speculation about a possible run for the presidency in 2017, United Nations Secretary-General Ban Ki-moon issued a statement denying media reports that he was interested in running for the highest office in Korea. Ban said that he has consistently stated his position that it was inappropriate to link him to domestic politics, in disregard of his own wishes, and asked that the media stop reporting on him in relation to domestic politics, including opinion polls.The last few days ha

Nov. 6, 2014

[Editorial] Sincerity toward talks

The brewing currency war between South Korea and Japan in the wake of Tokyo’s decision to increase monetary stimulus may add to the strain already put on ties between the two countries by prolonged disputes over historical issues.This will not help form the atmosphere for setting up the first bilateral summit between President Park Geun-hye and Japanese Prime Minister Shinzo Abe. Since taking office in February last year, Park has shunned one-on-one talks with the Japanese leader, who has pushed

Nov. 5, 2014

[Editorial] Household debt risk

Low borrowing costs and eased regulations on home-backed lending have caused domestic mortgage loans to soar in recent months. The outstanding home-backed loans extended by KB Kookmin Bank, the country’s biggest mortgage lender, stood at 84.6 trillion won ($80.3 billion) as of Oct. 28, up 836.5 billion won from the end of the previous month, according to industry data. The October gain is about 34 percent larger than the 623 billion won on-month increase tallied in September.All other lenders sa

Nov. 5, 2014

[Editorial] More than enjoying bulgogi

It is usual for news about a new U.S. ambassador to Seoul to make headlines here. Mark Lippert, who arrived here last week to assume his post, is no exception, with local media highlighting even his dog, which forced him and his pregnant wife to change their flight schedule. Besides the traditional weight the position of U.S. envoy carries, there are some good reasons why Lippert is getting extra attention from the Korean media and public. To begin with, at 41, he is the youngest among the 22 U.

Nov. 4, 2014

[Editorial] The case of Moneual

Moneual, a maker of home appliances such as home theater PCs and robot vacuum cleaners, was once lauded as an adorable up-and-coming small enterprise. Investors, government officials and even Bill Gates hailed the company as a champion of innovation. On paper, the company’s performance was more than impressive. Moneual, founded in 2004, joined the club of firms whose sales exceeded 1 trillion won last year, boasting 1.27 trillion won in sales and 110 billion won in operating profit. No wonder it

Nov. 4, 2014

[Editorial] Only the beginning

The families of the Sewol ferry victims acquiesced to the agreement reached by the Saenuri Party and the New Politics Alliance for Democracy on the special Sewol bill Friday. Their assent brought an end to the protracted disputes over the bill, which provides for a special investigation into the disaster that left more than 300 people dead, compensation for the victims, and other things. The compromise bill stipulates a 17-member truth commission headed by a chairman selected by the victims’ fam

Nov. 3, 2014

[Editorial] Potential to change politics

In a landmark ruling, the Constitutional Court last week declared the current electoral districts unconstitutional and ordered revisions to be completed by the end of 2015. In its ruling, the court said that the ratio of the most populous district to the least populous district should be 2-to-1. The revamped electoral districts will apply in the general election scheduled for April 2016. At the moment, the ratio stands at 3-to-1.Yeouido is visibly rattled by the ruling as anything upsetting the

Nov. 3, 2014

[Editorial] A lost year

Education authorities admitted ― belatedly ― last week that one of questions from last year’s college entrance exam was erroneous. They decided to permit test-takers, who failed to get into preferred universities because their scores were lowered by the flawed question, to receive corrected marks and change schools if they want.The decision, which followed a recent ruling by the Seoul High Court in favor of test-takers whose grades were affected by the erroneous question, should have come earlie

Nov. 2, 2014

[Editorial] External risks

Korea’s economy has recently seen external conditions deteriorating quickly with domestic indicators showing little improvement.Japan’s central bank announced a further monetary easing Friday, two days after the U.S. Federal Reserve decided to stop its monthly asset purchases from next month. Following the Bank of Japan’s move, the Korean won appreciated sharply against the Japanese yen, closing at a nearly six-year high of 957.39 won to 100 yen.The prospect of the yen weakening further overshad

Nov. 2, 2014

[Editorial] Inter-Korean talks

Prospects of a second round of high-level inter-Korean talks seem to have dimmed as Seoul’s date for the talks, Oct. 30, has come and gone.Unable to agree on issues that touch on the very core of the two sides’ reason for being, high-level talks seem elusive at the moment. The North continued to demand that Seoul stop civic groups in the South from floating balloons containing anti-North Korean leaflets across the border, accusing the government here of standing by while the civic groups attack

Oct. 31, 2014

[Editorial] Stop trying to fool the world

The international community’s concerted efforts to pressure North Korea on its human rights record is eliciting a response from the isolated state, demonstrating that continued and focused pressure may lead to a change in the human rights conditions there, even if only to a slight degree.On Monday, U.N. human rights chief Marzuki Darusman met with four North Korean officials, the first time such a meeting took place since the office of rapporteur for North Korean human rights was established 10

Oct. 31, 2014

[Editorial] Employment policy

Government figures showed this week the number of self-employed individuals and irregular workers has been rising continuously. This trend raises the need for government officials to review their existing employment policy and work out measures to enhance job stability.The number of self-employed people registered with the local tax authority rose by more than 10 percent from 4.87 million in 2009 to 5.37 million last year. This increase is nearly six times the population growth rate for the cite

Oct. 30, 2014

[Editorial] Debt management

In her address to the National Assembly on Wednesday, President Park Geun-hye called for legislative support for her efforts to revitalize the country’s sluggish economy. She said her administration would risk further piling up fiscal deficits to spend money needed to pull the economy out of the protracted downturn.In September, the government submitted a 376 trillion won ($361 billion) budget plan for next year, up 5.7 percent from this year. In a meeting following her speech, the president and

Oct. 30, 2014

[Editorial] Pork-barrel squandering

The four-river development project pushed during the Lee Myung-bak administration is a typical pork-barrel project motivated more by politics than by economic and policy considerations. The project consumed a huge amount of taxpayers’ money ― 22 trillion won ― mainly because it was a pet project of the former president. While he was in his office, Lee pushed ahead with the project in place of a canal project, a key campaign promise he had to abandon in the face of strong public opposition. In vi

Oct. 29, 2014

[Editorial] Nuke threat looms larger

A report that North Korea is believed to have the capability to deliver a small nuclear warhead on a missile should be a wake-up call to President Park Geun-hye. This is all the more so because these days Park seems more concerned with improving ties with North Korea than with dealing with threats from its weapons of mass destruction, which could threaten our very survival. Gen. Curtis Scaparrotti, the commander of the U.S. forces in South Korea, said recently that he believes North Korea has th

Oct. 29, 2014

[Editorial] Reassessing balloons

Balloons containing anti-North Korean leaflets sent across the border have become a contentious issue not only in inter-Korean relations but also among South Koreans.Members of a conservative group that gathered at Imjingak near the Demilitarized Zone on Saturday to send balloons containing anti-North Korean regime leaflets ― an event well publicized in advance ― were met by Paju residents and civic groups trying to block the attempt. Scuffles ensued despite the heavy presence of police there to

Oct. 28, 2014

[Editorial] Difficult decision

The families of the 10 Sewol victims who remained missing as of Sunday took the courageous step of discussing whether the recovery efforts should be continued.The families agreed to vote on whether to allow the salvage operation to start, requiring a two-thirds majority, or six votes in favor, to begin the salvage operation. In Sunday’s vote, four families voted in favor and five families voted against. There were nine votes because two of the victims are from the same family ― a father and son.

Oct. 28, 2014

[Editorial] Middle class sentiment

Nearly 75 percent of Koreans considered themselves middle class in 1989, a year after the country hosted the Summer Olympic Games in Seoul. The number plummeted to 20.2 percent last year, according to government surveys.Over the cited period, Korea’s per capita gross national income jumped from about $5,000 to $26,000.This wide discrepancy between a falling perception of socioeconomic class and rising income is rarely found in other major advanced countries.A 2013 survey showed Koreans have unre

Oct. 27, 2014