[Editorial] Tada chaos

The prosecution indicted the operator of Tada, a ride-hailing service using rented vans, its parent company and their top executives on Oct. 28.Business circles, particularly from startups, criticized the indictment for blocking innovation. Following this, high-ranking government officials too joined the criticism.Prime Minister Lee Nak-yon said that a new industry must not be stunted even though it may conflict with an existing one.Deputy Prime Minister and Finance Minister Hong Nam-ki said it

Nov. 5, 2019

[Editorial] Foreign population

The number of foreign nationals in South Korea has more than doubled over the past two years to 2.42 million in August, according to data recently submitted by the Justice Ministry to a lawmaker. The figure accounted for nearly 4.7 percent of the country’s total population of 51.62 million.About 1.25 million foreigners were registered residents living here for more than three months. The rest included those staying for a shorter period or Koreans with foreign nationalities.More than 60 per

Nov. 4, 2019

[Editorial] Absurd defense of NK

North Korea test-fired a new “super-large” multiple rocket launcher Thursday. This came a day after its leader Kim Jong-un sent condolences to South Korean President Moon Jae-in over his mother’s death.　Asked by a lawmaker if it was ill-mannered of the North to provoke the South while Moon was in mourning, Chung Eui-yong, chief of Cheong Wa Dae’s National Security Office, noted that the test-firing occurred after Moon returned to Cheong Wa Dae from the funeral.According t

Nov. 3, 2019

[Editorial] Distorted workforce

The first instruction President Moon Jae-in gave on his first day in office was to take all policy measures to turn nonregular jobs into regular ones. During his election campaign, he pledged to give all temporary workers in the public sector permanent status if he assumed the presidency.Moon, who took office in May 2017, may well feel embarrassed about data released this week that showed the number of nonregular workers and their proportion in the country’s workforce reaching record-high

Oct. 31, 2019

[Editorial] No colluding for seats

Minor opposition parties seek to increase the total number of lawmakers. Sim Sang-jeung, leader of the Justice Party, argued Sunday for increasing the number by 10 percent from 300 to 330. Then, Sohn Hak-kyu, chairman of the Bareunmirae Party, chimed in, saying his party must try to persuade people to assent to the idea. The Party for Democracy and Peace had already proposed increasing the figure.In April when the three parties agreed with the ruling Democratic Party to fast track three items de

Oct. 30, 2019

[Editorial] Hasty drive

The scandal surrounding former Justice Minister Cho Kuk and his family has tarnished President Moon Jae-in’s repeated pledge to enhance equality, fairness and justice in South Korean society.The public is indignant particularly over various privileges and irregularities Cho’s daughter benefited from in gaining admission into a prestigious university and then into medical school. The disgraced ex-minister’s wife, a professor, is accused of faking documents that helped the couple

Oct. 29, 2019

[Editorial] Stunted growth

Korea’s 2 percent growth this year, regarded as a psychological Maginot Line of its economy, looms as a long shot.According to the Bank of Korea, Korea’s real gross domestic product grew only 0.4 percent in the third quarter from the previous quarter.The central bank estimates the Korean economy must grow at least 0.97 percent on-quarter in the October-December period to reach the 2 percent target. But given tough economic situations at home and abroad, it is hard to expect a strong

Oct. 28, 2019

[Editorial] Inevitable decision

South Korea last week made what seemed an inevitable decision to give up its developing country status at the World Trade Organization.Given its economic standing, it is unlikely to be recognized as a developing state in the course of future negotiations within the framework of the Geneva-based global trade body. A delayed decision could undermine its negotiating power.What prompted the decision announced by Seoul on Friday was the US proposal that the WTO strip countries of developing nation st

Oct. 27, 2019

[Editorial] Respond sternly

North Korean leader Kim Jong-un ordered the removal of hotels and other tourist facilities South Korea built at the North’s Kumgangsan resort, the North’s official Korean Central News Agency reported Wednesday.“The mere sight of shabby facilities built by the South offends me,” the agency quoted Kim as saying to officials while inspecting the resort. “Kim instructed the officials to remove all of the facilities after agreement with the South and build modern service

Oct. 24, 2019

[Editorial] Fair burden

Under a defense cost-sharing accord with Washington, Seoul is required to pay 1.04 trillion won ($885 million) this year for the stationing of 28,500 US troops here. The amount, which represents an 8.2 percent increase from last year, marks the first time that South Korea’s payment has exceeded 1 trillion won.South Korea is now facing US demands for a hefty rise in its contribution next year, compared with which this year’s increase would look minuscule. Washington has reportedly cal

Oct. 23, 2019

[Editorial] A second prosecution

The prosecution on Monday sought an arrest warrant for Chung Kyung-sim, wife of former Justice Minister Cho Kuk, on 10 charges related to her daughter’s university admission and her investments in a private equity fund. It is getting to the bottom of corruption allegations surrounding his family.Given this situation, the ruling Democratic Party has vowed to prioritize its bill to create an agency to investigate irregularities among high-ranking officials -- including the president, lawmake

Oct. 22, 2019

[Editorial] Messenger’s role

The momentum for easing the strained ties between South Korea and Japan is building ahead of Prime Minister Lee Nak-yon’s planned trip to Tokyo this week.During his three-day visit starting Tuesday, Lee is scheduled to meet with Japanese Prime Minister Shinzo Abe after attending Japanese Emperor Naruhito’s enthronement ceremony. It will be the first high-level meeting in more than a year between the two neighboring nations that are embroiled in a long-running feud that has spread fro

Oct. 21, 2019

[Editorial] Draw the line

Members of a group that identifies itself as a coalition of progressive university students broke into the residence of US Ambassador Harry Harris in Seoul on Friday. They climbed over the wall using ladders and staged a protest against the US presence in South Korea.A photo the group posted on its Facebook account shows the activists unfurling banners accusing the US of demanding a 500 percent hike in costs to South Korea for the upkeep of its troops here. A large banner read, “Leave this

Oct. 20, 2019

[Editorial] Insufficient tool

In line with market expectations, the Bank of Korea on Wednesday cut its policy rate by a quarter percentage point to 1.25 percent, which matches the lowest level seen from June 2016 to November 2017.Growing downside risks and low inflation led the central bank to lower the base rate for the second time in three months.The growth momentum of Korea’s economy is expected to further weaken down the road amid slumping exports and sluggish investments. Outbound shipments from Asia’s fourt

Oct. 17, 2019

[Editorial] Sterile business climate

According to a recent survey by the Export-Import Bank of Korea, 78.9 percent of 216 domestic companies which took loans from it to expand their businesses abroad said they did not intend to bring their overseas establishments back to the country.Asked about the business environment in South Korea and abroad, 76.9 percent chose a foreign country. This shows the sorry state of economic affairs here. Another survey of 150 companies with overseas business operations, conducted by the Korea Economic

Oct. 16, 2019

[Editorial] Cho Kuk’s resignation

The Cabinet approved measures aimed at reforming the prosecution at a meeting presided over by Prime Minister Lee Nak-yon on Tuesday.The move came a day after the measures were announced by Justice Minister Cho Kuk, who offered to resign shortly after the announcement, caving in to the mounting pressure to step down in order to distance himself from the widening probe into fraud and corruption allegations involving his family.His wife, a professor, was being questioned by prosecutors at the very

Oct. 15, 2019

[Editorial] Take stock

The Nuclear Safety and Security Commission discussed closing Unit 1 of the Wolsong nuclear power plant permanently in its meeting Friday, but failed to reach a conclusion. It is unclear if it will discuss the agenda again in the next meeting on Oct. 25.It effectively took into consideration the possibility of the Board of Audit and Inspection releasing audit results against the shutdown of the reactor in North Gyeongsang Province. The power plant has been suspended following a decision by the st

Oct. 14, 2019

[Editorial] Pro-business turn

President Moon Jae-in has recently tried to craft a pro-business approach. Earlier this month, he met heads of major Korean business organizations to listen to their suggestions on how to boost corporate activity. Presiding over a Cabinet meeting days later, he called on government officials to pay closer attention to what they hear from companies. Last week, he visited a Samsung Display factory to praise the company’s decision to invest 13.1 trillion won ($11 billion) in the next-generati

Oct. 13, 2019

[Editorial] Reform with clean hands

Justice Minister Cho Kuk has unveiled prosecution reform plans, but it is questionable if it was appropriate for him to announce such plans in the middle of investigations into corruption suspicions surrounding his family.　Under the plans, the kinds of cases the prosecution can investigate directly on its own judgment will be reduced, public summoning and disclosure of allegations to news media will be banned, questioning at the prosecution office will be limited to eight hours and late-night qu

Oct. 10, 2019

[Editorial] Corporate tax cut

Finance Minister Hong Nam-ki said last week that the government had no plan to lower the country’s corporate tax rates. In a parliamentary audit of his ministry, Hong argued that corporate tax cuts would not necessarily result in an increase in investments, saying companies made investment decisions based on broader economic conditions.The chief economic policymaker had to be reminded that reducing the tax burden on companies is a key part of efforts to reinvigorate the slumping economy. A

Oct. 9, 2019