[Editorial] The right nest

The fate of Asiana Airlines, soon to be sold off by the Kumho Asiana Group, offers both lessons and challenges for Korea Inc. -- as well as for the nation’s second-largest flag carrier and other affiliates in the group, which focuses on transportation and logistics. Most of all, the case should awaken the nation’s conglomerates, especially the family-controlled chaebol, to the risks of pursuing business expansion in the “octopus style” for which they have become notorious -- that is, indiscrimin

April 18, 2019

[Editorial] Drawing investors

New foreign direct investment pledged to South Korea recorded a sharp on-year drop in the first quarter of this year. The country received FDI commitments worth $3.17 billion during the January-March period, down 35.7 percent from a year earlier, according to data released last week by the Ministry of Trade, Industry and Energy.Actual investments made by foreign companies over the same period decreased 15.9 percent on-year to $2.62 billion.As officials at the ministry note, there is a list of re

April 17, 2019

[Editorial] Back to square one

President Moon Jae-in has bet again on mediating another inter-Korean summit to revive stalled nuclear negotiations between the US and North Korea.　“Now is the time to prepare in earnest and push for another summit between South and North Korea,” Moon said at a meeting with senior secretaries Monday.　Nothing would be more desirable than North Korean leader Kim Jong-un accepting Moon’s offer and holding his third summit with US President Donald Trump to take sincere steps to denuclearize in retur

April 16, 2019

[Editorial] Self-contradiction

Japan’s response to the World Trade Organization’s ruling endorsing a South Korean ban on Japanese fishery products raises questions about its sensibility as a responsible member of the international community.Most of all, Tokyo’s challenge to the ruling, which is final, goes against the norm that both the winner and loser in a bilateral dispute should respect and comply with the judgement of the authoritative international arbitration or settlement body. International rules and standards are wh

April 15, 2019

[Editorial] Improper position

US President Donald Trump and North Korean leader Kim Jong-un last week expressed willingness to meet for a third time to seek an agreement on the North’s denuclearization.Trump tweeted Saturday that a third summit with Kim would be “good,” responding to Kim’s speech to the North’s parliament a day earlier, in which he said he would be willing to hold a third summit if the US comes with the “right attitude” and “right method.”Though the two leaders have described their personal relationship as “

April 14, 2019

[Editorial] Pretend jobs

Employment increased, but the quality of employment worsened. According to Statistics Korea on Wednesday, the nation saw 250,000 jobs added in March from a year earlier. March was the second straight month when over 200,000 jobs were created.Yet a closer look shows a different picture. About 346,000 jobs created for seniors aged 60 and above propelled employment growth. The agro-fishery sector also added 80,000 jobs. Without these two categories, overall employment would have shrunk by 17,000 jo

April 11, 2019

[Editorial] Right deal

Two impending events -- one in Washington and the other in Pyongyang -- are widely expected to affect the future course of the denuclearization of North Korea. It is hoped that all three major players -- South Korean President Moon Jae-in, US President Donald Trump and North Korean leader Kim Jong-un -- will turn the events into positive ones. The summit discussions between Moon and Trump, scheduled for Thursday in Washington, draw attention because the two leaders will discuss how to tackle Nor

April 10, 2019

[Editorial] Boosting tourism

South Korea saw the number of foreign travelers to the country slide from a record high of 17.24 million in 2016 to 15.34 million last year.With more than 28 million Koreans going on overseas trips in 2018, the nation’s tourism deficit doubled from a year earlier to $13.8 billion in the year.In a reflection of the sluggish tourism business, 237 hotels operating in the red around the country were put up for court auction in the first quarter of this year. The figure represented a 50 percent incre

April 9, 2019

[Editorial] KCTU above law

During its rally in front of the National Assembly on Wednesday, protesters of the Korean Confederation of Trade Unions knocked down part of the fence surrounding the premises. They attempted to enter the grounds illegally and block the passage of labor bills.　They also pulled down a barrier set up by police, took riot batons and shields, collared police officers, slapped their faces and swung their fists. Six police officers were taken to a nearby hospital.　They were more like a lawless mob tha

April 8, 2019

[Editorial] It’s urgent, too

The North Korean nuclear threat should be tackled as soon as possible. However, the security issue should not distract South Korea and the international community from addressing refugee and human rights problems in the North. Incidents involving defectors have raised concerns that the South Korean government is not paying enough attention to the plight of North Koreans trying to escape tyranny and poverty in their country. A worrisome case occurred in Vietnam early this month. Three North Korea

April 7, 2019

[Editorial] Warning signs

The results of Wednesday’s parliamentary by-elections in two constituencies of South Gyeongsang Province did not deliver a decisive victory to either of the opposing parties.The races in Changwon and Tongyeong-Goseong had drawn keen attention as a barometer of voter sentiments ahead of next year’s nationwide parliamentary elections, which are set to be followed by a presidential vote two years later.A candidate from the leftist Justice Party, who was also backed by the liberal ruling Democratic

April 4, 2019

[Editorial] Concerns on alliance

The Korea-US military alliance is showing signs of abnormality. The US Marine Corps deployed 14 aircraft from Hawaii to the Korean Peninsula for training last month. This came to light through a statement released by Lt. Gen. Lewis A. Craparotta, commander of the US Marine Forces Pacific, for a security seminar in Seoul on Tuesday. Military authorities in Seoul did not disclose the training.The exercise was exceptional. The US Marine Corps usually dispatches aircraft to the Korean Peninsula from

April 3, 2019

[Editorial] Key mission

Senior South Korean and US officials have been holding a flurry of meetings in Washington in the run-up to a summit between their respective leaders Moon Jae-in and Donald Trump next week. South Korean Foreign Minister Kang Kyung-wha returned home after meeting US Secretary of State Mike Pompeo -- their first meeting since the second summit between Trump and North Korean leader Kim Jong-un collapsed in February. The top diplomats’ discussions were followed by a meeting between Kim Hyun-chong, th

April 2, 2019

[Editorial] Investment environment

In a meeting with a group of executives from foreign-invested firms here last week, President Moon Jae-in asked them to take note of the vast economic opportunities that would stem from a peaceful Korean Peninsula.He said geopolitical risks on the peninsula had dwindled swiftly following three summit talks he held with North Korean leader Kim Jong-un last year.He matched his rosy view of the security environment with a promise of increased support and an emphasis on what he said was the strong f

April 1, 2019

[Editorial] Disappointing double standards

For certain people in prominent roles within the Moon Jae-in administration, probably few words are more apt than “hypocrite.”　On Friday, presidential spokesperson Kim Eui-kyeom offered to resign over allegations that he had made a speculative real estate investment during his time at Cheong Wa Dae. He bought a 2.5 billion won ($2.19 million) building in a lucrative Seoul redevelopment zone and raised about half that amount through loans.Kim argued it was not speculation but an investment. But h

March 31, 2019

[Editorial] More than bribery

There are many reasons the state prosecution, set to reopen its investigation on a sex bribery scandal involving a former vice justice minister, should leave no stone unturned. As President Moon Jae-in said, it should do everything it can to find out the truth. Overall, the case seems very complicated, with legal and political factors entangled. Depending on how the prosecution’s investigation goes, the issue could batter politics heavily as it already pits the ruling party against the main oppo

March 28, 2019

[Editorial] Fiscal soundness

Guidelines for next year’s national budget, approved by the Cabinet on Tuesday, are in line with the expansionary fiscal policy pursued by President Moon Jae-in’s administration.The Ministry of Economy and Finance, which worked out the guidelines, has said their purpose is to bolster the economy, improve income inequality and strengthen the social safety net.Each government agency is required to submit its budget request to the ministry by the end of May. The ministry is then obliged to present

March 27, 2019

[Editorial] Sorry excuse

Ha Tae-keung, a Bareunmirae Party lawmaker, disclosed a photo of a plainclothes presidential bodyguard exposing a submachine gun as President Moon Jae-in visited a provincial market.Moon went to the Chilseong Market in the southeastern metropolitan city of Daegu on Friday to talk with the people about economic problems that directly affect them.　Ha called the scene in the photo “frightening,” and called on the presidential office to explain the situation. He argued it is a rule for guards to kee

March 26, 2019

[Editorial] A spoiled system

A spoils system is an indispensable part of a democracy. The problem in South Korea is that after an election, winning governments and parties take it too far, often engaging in illegal activities. The power abuse scandal involving the Environment Ministry is a case in point. After three months of investigation, the prosecution is zeroing in on top officials, including former ministry head Kim Eun-kyung and senior presidential officials. The case came to light thanks to Kim Tae-woo, a whistleblo

March 25, 2019

[Editorial] Confusing signals

US President Donald Trump caused confusion Friday when he tweeted that “additional large-scale sanctions” against North Korea would be withdrawn.His tweet was thought to be referring to sanctions announced by the Treasury Department a day earlier, which included blacklisting two China-based shipping companies suspected of illegally trading with the North.But US media later quoted unnamed administration officials as saying that Trump was in fact ordering the cancellation of measures that were sch

March 24, 2019