[Editorial] Escalating tension

North Korea, which has conducted two nuclear tests in the past, is alarmingly provocative. It has recently proclaimed itself a nuclear weapons state in defiance of the international community’s demand that it dismantle its nuclear weapons program.It has also picked out President Lee Myung-bak and news outlets in Seoul as potential targets for a “holy war of retribution.” As if to demonstrate its resolve, it sends its jet fighters threateningly close to the Demilitarized Zone before calling them

June 10, 2012

[Editorial] China’s Goguryeo claims

Ancient China had a great civilization, with the Great Wall being one of its legacies attesting to its ancient history. But was it necessary for modern China to dot the fortifications of non-Chinese ancient civilizations and link them to extend the length of the Great Wall, as it has done now?The wall, the largest manmade structure in the world, is a series of fortifications made of stone, brick, tamped earth and other materials. According to a 2009 Chinese estimate, the wall, built to fend off

June 10, 2012

[Editorial] Renouncing privileges

The ruling Saenuri Party has come up with a sweeping set of reform proposals to curtail privileges and benefits for lawmakers and hold them to higher ethical standards.The party said the package is designed to implement its pledges made for the April parliamentary election. It is desirable for a political party to try to put into practice its election promises to the public. The package contains six proposals, including scrapping lawmakers’ immunity from arrest, reforming their much criticized r

June 8, 2012

[Editorial] Ideological vortex

The controversy over the alleged pro-North Korea lawmakers of the left-wing United Progressive Party has escalated into a virulent ideological dispute between the ruling Saenuri Party and the main opposition Democratic United Party. The escalation was sparked by DUP Rep. Lim Soo-kyung, a former high-profile student activist who became a lawmaker on a proportional representation ticket. Lim recently insulted North Korean defectors in the South by calling them “traitors.” She apologized to the def

June 8, 2012

[Editorial] No time for clash

Departing from their low-key position, business circles are beginning to raise their voices against political parties’ moves to impose stricter regulations on conglomerates in the name of economic democratization.A research institute affiliated with the Federation of Korean Industries, the country’s main business lobby group, held a debate this week, where participants criticized politicians for pushing ahead with bills that go against market economy principles and shackle big business.They clai

June 7, 2012

[Editorial] English divide

Koreans are recognized for their zeal for learning English, though the efficiency of their study methods is often called into question.A report released this week suggested there might be a good reason they have to be so zealous in acquiring a better command of the language.Employees who outscore their colleagues by 100 points on the Test of English for International Communication earn an average 1.7 million won ($1,400) more a year, according to the report by Korea Development Institute, a stat

June 7, 2012

[Editorial] Lawmakers’ extra income

The 19th National Assembly started its term in office on May 30. But it has yet to hold an opening session, with the rival parties bickering over who will head each of the 18 committees.No one knows when the legislature will start its normal operations. The standoff may last more than a month, if past experience is any indication.Still, each lawmaker will be given, without interruption, a monthly payment of 12.24 million won and access to 200 perks ― ranging from free rides on state-owned means

June 6, 2012

[Editorial] Threat of EU crisis

As is often said, a crisis that is already known may not be a crisis any longer. Those who perceive themselves to be at the risk of being exposed to a crisis are certain to take all precautions possible for their own protection.But the axiom does not appear to apply to the current sovereign-debt crisis in Europe. The crisis came to a head in 2008 when Ireland was added to the PIGS group of Portugal, Italy, Greece and Spain to form a new pejorative term ― PIIGS.The crisis, which the European Unio

June 6, 2012

Diversity in top court

The shortlist of candidates to replace four outgoing Supreme Court justices, which were recommended by Chief Justice Yang Sung-tae to President Lee Myung-bak on Tuesday, appears to add to the conservative tendency of the top court rather than altering it.All of the four candidates -- three high-ranking judges and a senior prosecutor – are men in their 50s and thought to be conservative to some extent.The selection naturally drew a negative response from opposition lawmakers and civic group membe

June 6, 2012

[Editorial] Overeducated workforce

With the entire world contaminated with the eurozone virus, the Korean economy is also beginning to feel the impact of the global slowdown.Government policymakers recently revised down their growth forecast for this year to 3.5 percent from 3.7 percent in the face of shrinking exports coupled with sluggish domestic demand.The effect of their stimulus measures appears to be limited.What if there was a way to boost the growth rate by one extra percentage point without increasing government expendi

June 5, 2012

[Editorial] Trade with Japan

Korea, a country poor in natural resources, has turned itself into a major exporting powerhouse during the past six decades. It owes its rapid rags-to-riches transformation to huge export earnings.Korea’s prowess as an exporter, however, is nowhere to be found when it comes to trade with Japan. It has recorded no trade surplus ever since its liberation from Japan’s colonial occupation in 1945.At long last, however, Korea sees a possibility of selling more to Japan than buying from it. This possi

June 4, 2012

[Editorial] No ‘secret fund’

The rumor that former President Roh Moo-hyun kept 2 billion won in borrowed bank accounts is likely to be put to rest, as the prosecutors’ office has made a provisional conclusion that the late president had no such secret fund. The office summoned former National Police Commissioner Cho Hyun-oh on Monday for final questioning on his earlier remarks about the alleged fund.In a 2010 lecture to police officers, Cho, then as chief of the Seoul Metropolitan Police Agency, claimed Roh took his life i

June 4, 2012

[Editorial] Blue economy vision

The 6th World Ocean Forum opens today in Busan under the theme of “Vision of the Blue Economy and Ocean Governance.” The three-day conference brings together some 3,000 scholars, government officials and ocean industry leaders from Korea and abroad for discussion on sustainable use and development of the oceans. The term “blue economy” has not gained wide currency in Korea yet. It is being introduced to the public through the forum and the ongoing international exposition in Yeosu, whose theme i

June 3, 2012

[Editorial] True picture of debt

Korea’s national debt totaled 774 trillion won as of the end of last year, according to a report submitted to the National Assembly by the Ministry of Strategy and Finance.The figure is about 354 trillion won higher than the 420 trillion won estimated by the ministry last month. The difference was caused by a shift in accounting method. Previously the government calculated national debt based on cash accounting, a method that recognizes expenses at the time when cash is paid. Under this approach

June 3, 2012

[Editorial] Resignation or explusion

Two lawmakers elected through the United Progressive Party’s proportional representation list will have to resign on their own if they wish to avoid the humiliation of being expelled from the National Assembly. Both the ruling Saenuri Party and the opposition Democratic United Party are already moving to force them out of the National Assembly.At issue are the ideology that Rep. Lee Seog-gi and Rep. Kim Jae-yeon of the divided leftist party are alleged to espouse and the process of putting them

June 1, 2012

[Editorial] Power-saving campaign

An annual electricity-saving campaign started on the first day of June ― one month ahead of time. The early launch of the government-initiated promotion reflects a deep concern about power shortages that may cause nationwide blackouts in summer.Nationwide blackouts are not just a remote possibility. They are an imminent threat to the nation, which experienced rolling blackouts last year ― successive blackouts in small areas that were designed to conserve electricity when supply fell to a dangero

June 1, 2012

[Editorial] Arbitrary detention

In the first move of its kind, a U.N. working group recently concluded that Pyongyang has forcibly detained the wife and two daughters left behind by a South Korean man who escaped North Korea in 1986 a year after defecting there with his family.Their continued detention since 1987 “has been and is arbitrary,” said the U.N. Working Group on Arbitrary Detention in a statement adopted at its session last month, which was made public by a Seoul-based rights group Tuesday.It also requested that Nort

May 31, 2012

[Editorial] Plummeting savings rate

It has been a long time since Koreans ceased to be recognized for their passion for saving.A recent report confirmed they have lost that passion more rapidly than people in other major economies over the past decade.According to the report by the Organization for Economic Cooperation and Development, Korea’s household savings rate ― the ratio of savings to total disposable income ― declined from 23.2 percent in 1998 to 3.1 percent last year. The decrease of 20.1 percentage points over the cited

May 31, 2012

[Editorial] Priorities for Assembly

The curtain has been raised on the 19th National Assembly. The public has high expectations for the new parliament as the legislative procedure for contentious bills has been changed to promote inter-party compromise and prevent unsavory brawls among lawmakers.Yet the behavior of the ruling Saenuri Party and the main opposition Democratic United Party apparently has not changed much. They are reenacting the familiar haggling over the distribution of the chairmanships of the Assembly’s 18 standin

May 30, 2012

[Editorial] Fighting corruption

Not a day passes these days without corruption scandals grabbing headlines. On a daily basis, the media reports on corruption allegations involving presidential confidants, government officials, savings bank owners, police officers, etc. So much so that we are getting numb to corruption.For many years, Korea has been committed to fighting corruption. Successive governments have made earnest efforts to crack down on it. As a result of a continued anti-corruption drive, Korean society has become m

May 30, 2012