[Editorial] Clouds over chips

China has launched an investigation into South Korea’s Samsung Electronics and SK Hynix, as well as Micron Technology of the US.The three companies are the biggest suppliers of DRAM chips -- integrated circuits that go into and power everything from smartphones to the most advanced super computers and driverless cars.China was reportedly probing price-fixing allegations, as DRAM prices have risen sharply, the first such investigation by China.Memory chips are one of a few export items propelling

June 6, 2018

[Editorial] Two concerns

As the historic US-North Korea summit draws closer, two major concerns are rising with regards to US President Donald Trump. One is about the softening of his stance on quick, complete denuclearization of the North, and the other is about the alignment of his “America First” policy with the nuclear crisis. For now, it seems the two sides have yet to narrow their differences over how the North should denuclearize. Senior Trump aides mention a “bumpy road” (Secretary of Defense James Mattis) and “

June 5, 2018

[Editorial] Big decision

Negotiations between the US and North Korea to prepare for their historic summit are entering the final stretch after a roller coaster ride which once went to a short-lived cancellation.　US President Donald Trump announced on Friday that his June 12 meeting with North Korean leader Kim Jong-un in Singapore would go ahead. This news came after senior North Korean official Kim Yong-chol hand-delivered a letter from Kim Jong-un to the president.Trump said Singapore would be “a get-to-know-you kind

June 4, 2018

[Editorial] Walking a fine line

The national pension fund’s move to exercise its shareholder rights to a greater extent could become a double-edged sword. On one hand, it could help the fund better manage its investment, but on the other hand it could lead to political interference in the management of private companies. It is against this backdrop that the National Pension Service should be prudent in its plans to exercise its shareholder rights with regards to Korean Air, which is being pounded by a barrage of scandals. The

June 3, 2018

[Editorial] Elections matter

The 13-day official campaign for the June 13 local elections is in full swing. Candidates and campaigners in colorful uniforms and banners and posters are now seen everywhere in the streets. But fewer voters seem interested in the upcoming elections than in the past. There are some reasons for the relatively high voter indifference. The first one is that – for now -- the ruling Democratic Party of Korea is expected to score a resounding victory. The quadrennial local elections and the 12 parliam

June 1, 2018

[Editorial] Judges, move on

A court administration team recently announced the results of its third probe into allegations of judges having been blacklisted by the previous court administration.　The probe came to the same conclusion as its first and second ones that there were no explicit blacklists made under former Supreme Court Chief Justice Yang Sung-tae, who served the disgraced President Park Geun-hye.　But incidentally the team found documents showing that Yang considered using several court rulings to persuade Cheon

May 31, 2018

[Editorial] Order of things

The two Koreas exchanged Tuesday the lists of their delegates to the high-level talks to be held June 1. The talks, agreed on by President Moon Jae-in and North Korean leader Kim Jong-un in their surprise meeting last Saturday, will focus on economic cooperation, including cross-border railways and roads. The two sides are also expected to start soon more dialogue, including on military talks to reduce tension on the border and Red Cross talks on reunions of separated families. The inter-Korean

May 30, 2018

[Editorial] Clumsy revision

The National Assembly on Monday passed a revised bill to include parts of bonus and welfare benefits in minimum wage entitlements.According to the revised law, regular bonuses exceeding 25 percent of the minimum wage and welfare benefits surpassing 7 percent of it will count towards minimum wage payments from next year. These thresholds will be lowered in stages until 2024, when all of the regular bonuses and allowances will be included.Currently, minimum wage consists of basic pay and fixed all

May 29, 2018

[Editorial] Rollercoaster summit

It is a relief that the June 12 US-North Korea summit in Singapore will -- at least for now -- be going ahead. The two sides are holding multiple working-level contacts to prepare the meeting. But it still is too early to predict that everything will run to plan, since unpredictability has become the norm of the rollercoaster summit. One major cause of the “you-don’t-know-what-will-happen-tomorrow” situation is the frequent flip-flops on the part of the two main players -- Kim Jong-un and Donald

May 28, 2018

[Editorial] Green light for summit

Uncertainty over a summit between the US and North Korea is disappearing fast.North Korean leader Kim Jong-un met with South Korean President Moon Jae-in for the second time to reaffirm his commitment to denuclearize his country, as US President Donald Trump seeks to reinstate the summit with Kim he canceled.But hasty optimism should have no place on the path to the summit. There remain difficult issues to work out between the US and the North until the Korean Peninsula is completely denucleariz

May 27, 2018

[Editorial] Door not closed yet

US President Donald Trump has canceled his summit with North Korean leader Kim Jong-un scheduled for June 12 in Singapore. More precisely, the summit has been postponed indefinitely. It is not clear yet exactly what caused the abrupt U-turn. In view of the open letter Trump wrote to Kim, it appears that the decision was prompted by North Korea’s First Vice Foreign Minister Kim Kye-gwan’s criticism of US national security adviser John Bolton, followed by North Korean Vice Foreign Minister Choe So

May 25, 2018

[Editorial] Trump’s message

The US has sent North Korea a message in a bid to calm the current turbulence on the way to their planned summit, following recent tough rhetoric from Pyongyang.Shortly before his summit with South Korea at the White House on Tuesday, US President Donald Trump mentioned the possibility of postponing or canceling his summit with North Korean leader Kim Jong-un on June 12 in Singapore if certain conditions were not met. It is the first time that Trump indicated the possibility that the summit may

May 24, 2018

[Editorial] Problematic budget

The supplementary budget that passed the National Assembly this week was dogged by controversies and upsets from beginning to end.The administration drew it up without working hard to tackle unemployment problems on a fundamental level, and lawmakers passed it after deliberating it only superficially. The 3.83 trillion won ($3.52 billion) budget was drawn up to curb youth unemployment and support some regions where massive layoffs took place in stagnant industries such as shipbuilding and automo

May 23, 2018

[Editorial] Koo’s legacy

Deviation and unlawfulness are the norm with many leaders of the chaebol, the family-controlled conglomerates. They are often embroiled in cases of collusion with politicians, bribery, tax evasion, possession of slush funds and abuse of weaker people. The late LG Group Chairman Koo Bon-moo who was laid to rest Tuesday was never like any of them. Koo, who passed away Sunday at the age of 73, certainly was a different man than those whose only reason for running big companies is that they were bor

May 22, 2018

[Editorial] Druking scandal probe

A special counsel will investigate an online comment-rigging scandal in which Kim Kyoung-soo, a former Democratic Party of Korea lawmaker close to President Moon Jae-in, is suspected of being involved.The National Assembly approved the special counsel bill for the scandal investigation Monday. It is the first case to be investigated by special counsel after the Moon administration was launched in May last year. Investigation by special counsel will last for a maximum of 90 days. For now, its foc

May 21, 2018

[Editorial] United message

President Moon Jae-in leaves for Washington on Monday to meet US President Donald Trump for talks on North Korea. The meeting, which had been expected to set the tone for a historic meeting between Trump and North Korean leader Kim Jong-un, carries greater significance due to the Pyongyang government’s abrupt shift to a hard-line stance. In a sense, the Moon-Trump discussions -- especially about the terms on which the North will denuclearize -- and North Korea’s response to their agreement might

May 20, 2018

[Editorial] No illusions

It is always an illusion to expect an easy deal with North Korea. The North’s apparent backpedaling on its denuclearization talks shows how arduous attaining the goal would be. Many have already become used to the North’s brinkmanship and both South Korea and the US have taken the antagonistic North Korean statements calmly, making clear their intention to keep the talks going. It was good none other than US President Donald Trump came forward to allay the North, whose abrupt about-face alerted

May 18, 2018

[Editorial] Unreasonable challenge

A prosecution team investigating a hiring scandal linked to an opposition lawmaker clashed with Prosecutor General Moon Moo-il over the arrest of the lawmaker and indictments of some senior prosecutors. The trouble surfaced with a press conference held by prosecutor Ahn Mi-hyun of the Uijeongbu District Prosecutors’ Office on Tuesday. She had investigated the case while working at the Chuncheon District Prosecutors’ Office last year. Ahn revealed that Moon had scolded the chief prosecutor of the

May 17, 2018

[Editorial] Usual tactic

It is never rare for North Korea to backpedal in its dealings with South Korea and the US. But the apparent shift in its positon toward the two key partners in its denuclearization talks is disappointing. In an obvious warning against both Seoul and Washington, the North unilaterally canceled high-level talks with the South planned for Wednesday, citing the allies’ joint air drills. It also is not the first time that Pyongyang has condemned South Korea-US military exercises and used them as a ca

May 16, 2018

[Editorial] Warning signs

An array of economic indicators from inside and outside the country are sending warning signs of persistent downturn.　According to composite leading indicators released by the Organization for Economic Cooperation and Development on Sunday, Seoul’s reading skidded for 10 months in a row from 100.9 points in April 2017 to 99.76 points in February 2018.The last time South Korea’s CLI had dipped below 100 was in September 2014, when it stood at 99.8.The Paris-based OECD uses the index to gauge econ

May 15, 2018