[Editorial] Small deal

As the countdown ticks away toward the Feb. 27-28 summit between US President Donald Trump and North Korean leader Kim Jong-un, concerns are rising over the possibility that the two end up in a compromise that lacks measures to completely denuclearize the North. The biggest factor in the talks to be held in the Vietnamese capital of Hanoi, of course, will be how sincere Kim will be on his commitment to give up nuclear weapons and long-range missiles -- commitments he made in his previous talks w

Feb. 20, 2019

[Editorial] Growing woes

In a rare meeting with a group of self-employed businesspeople last week, President Moon Jae-in said he felt sorry for the growing difficulties they face. He pledged to strengthen support for them, but fell short of suggesting concrete measures.Economists say the whopping 27.3 percent rise in the minimum wage over the last two years -- pushed through as a pillar of the Moon administration’s income-led growth policy -- is mainly responsible for the deepening predicament of self-employed businesse

Feb. 19, 2019

[Editorial] Forestall tariff on cars

The US administration is poised to impose high tariffs on imported cars. The US Commerce Department concluded in a report to President Donald Trump that imported cars, such as those from South Korea, pose a threat to national security, according to Agence France-Presse on Thursday.After receiving the report Sunday, Trump has 90 days to decide whether to slap duties of up to 25 percent on imported autos and auto parts or restrict their quantity. The report is the result of an investigation starte

Feb. 18, 2019

[Editorial] Kim in Vietnam

Without a doubt, the outcome of the second summit between US President Donald Trump and North Korean leader Kim Jong-un should be assessed primarily on what kind of agreement they make on denuclearizing the North. This week, US and North Korean officials will meet in Hanoi to discuss matters related to the Trump-Kim showdown that will take place in the Vietnamese capital Feb. 27-28. Media from around the world are already flocking to the city. As the high-profile meeting propels Hanoi into the g

Feb. 17, 2019

[Editorial] Worsening employment

Dismal job data released Wednesday have heightened the need for President Moon Jae-in’s administration to abandon its ill-conceived policy, which has sought to increase employment by expanding fiscal expenditure and imposing heavier burdens on employers.The country’s unemployment rate reached 4.5 percent in January, the highest level for the month since 2010, according to figures from Statistics Korea. Last month saw the number of jobless Koreans rise to a 19-year high of 1.22 million, up 204,00

Feb. 14, 2019

[Editorial] Keep pardons to a minimum

The Moon Jae-in administration is reportedly preparing to grant its second round of special pardons on the occasion of the centennial of the March 1 Movement. A Cheong Wa Dae official said on Tuesday that working-level preparations for the special pardons were underway at the Ministry of Justice. Four people have been mentioned in the news media as possible candidates for presidential clemency: Lee Seok-ki, a former lawmaker with the now-disbanded Unified Progressive Party, who is serving time f

Feb. 13, 2019

[Editorial] Hanoi summit

The decision by US President Donald Trump and North Korean leader Kim Jong-un to meet again later this month is brightening prospects of a diplomatic solution for the North’s nuclear threat. It is too early, however, to be optimistic about the outcome of the meeting. So far, no details -- except the date and location -- have been disclosed, though the two sides have engaged in talks over the Trump-Kim summit to be held in Hanoi, Vietnam, from Feb. 27-28. Despite three days of talks with senior N

Feb. 12, 2019

[Editorial] Messy contest

The leadership contest for the main opposition Liberty Korea Party is being rattled by two factors that have no direct bearing on how to choose the best person to steer the party through next year’s parliamentary elections.Six of the eight candidates running for party chairman have threatened not to register their candidacy by the Tuesday deadline unless the election slated for Feb. 27 is postponed to mid-March.They argue the delay is necessary to prevent the party’s convention to pick its new l

Feb. 11, 2019

[Editorial] Risky demands

The Renault Group recently issued a warning to the labor union at its South Korean affiliate Renault Samsung Motors. Jose-Vicente de los Mozos Obispo, deputy alliance executive vice president in charge of manufacturing and supply chains at Renault, sent a video message to the Korean unit saying that if the current strike continues, the parent company may not consign its follow-up model Rogue to the Korean unit. Rogue is a compact sport utility vehicle of the Japanese carmaker Nissan, produced on

Feb. 10, 2019

[Editorial] Real road map

It is clear what US President Donald Trump and North Korean leader Kim Jong-un should seek at their second summit later this month: an agreement that is entirely different from the one they made at their first meeting. The vagueness of the agreement Trump and Kim made in Singapore in June resulted in a lack of progress in efforts to denuclearize the North, which largely tainted the historic significance of the first-ever meeting between the leaders of the former war adversaries. But expectations

Feb. 7, 2019

[Editorial] Evidence ignored

Silence and overreaction have characterized the responses of President Moon Jae-in and the ruling Democratic Party of Korea, respectively, to last week’s court ruling that found a confidant to Moon guilty of being involved in a massive online opinion-rigging scheme in the run-up to the 2017 presidential election.And Chief Justice Kim Myeong-soo has remained ambiguous in responding to the threat by ruling party lawmakers to seek to impeach the judge who sentenced South Gyeongsang Gov. Kim Kyoung-

Feb. 6, 2019

[Editorial] Unquestioned projects

The announcement that certain projects have been exempted from preliminary feasibility studies raises suspicions of pork barrel politics and concerns on tax wastage. The government has approved the waiver of preliminary feasibility studies for 23 regional projects worth 24.1 trillion won ($21.5 billion), mainly those to construct high-speed railways, expressways and an airport.The projects are necessary for balanced development and the revival of regional economies, says the government. However,

Jan. 31, 2019

[Editorial] True neighbors

The death this week of two South Korean victims of Japan’s military sex slavery, including Kim Bok-dong, a prominent activist who led the Korean victims’ campaign against the Tokyo government, is rekindling the public’s attention to the historical issue here. President Moon Jae-in was one of the first to visit the funeral house and express condolences for Kim. Lines of mourners coming from all walks of life and all over the country represent Koreans’ frustration and anger over Japan’s failure to

Jan. 30, 2019

[Editorial] Electoral judge

Lawmakers from the main opposition Liberty Korea Party have taken turns staging sit-in protests over President Moon Jae-in’s decision last week to appoint a controversial figure to a key post at the state election watchdog. The appointee, Cho Hai-ju, allegedly helped Moon campaign for the 2017 presidential election.Moon pushed ahead with the appointment, although opposition parties refused to hold a confirmation hearing for Cho out of concern that he might not be capable of maintaining political

Jan. 29, 2019

[Editorial] Be consistent

Some policies pushed by the Seoul Metropolitan Government are causing controversy and confusion.That is because they were announced abruptly without gathering sufficient public opinions and consulting related ministries beforehand.　A project to redesign Gwanghwamun Square is a case in point.Seoul Mayor Park Won-soon unveiled a plan last week to reconstruct the symbolic area.But the project faced a strong backlash. Park and Minister of the Interior and Safety Kim Boo-kyum clashed over it. The pro

Jan. 28, 2019

[Editorial] Independent court

Like all other criminal cases, conclusive judgement on the case of former Chief Justice Yang Sung-tae should be given only after the final court verdict. Nevertheless, even at this stage, the case has exposed dark sides of Korean society.Yang, who was taken into custody last week, is the first former chief justice to face criminal indictment for something he had done while in office. That the court issued an arrest warrant for Yang as requested by prosecutors highlights the gravity of what happe

Jan. 27, 2019

[Editorial] Defense burden

Stalled negotiations on South Korea’s share of the cost for stationing US troops here should not be allowed to go adrift further, as it could damage the alliance between the two countries on the path to removing nuclear threats from North Korea.Despite 10 rounds of discussions last year, the two sides have not agreed on the amount and other terms of Seoul’s payment for the upkeep of the 28,500-strong US Forces Korea. A five-year cost-sharing agreement expired at the end of last year.South Korean

Jan. 24, 2019

[Editorial] Tax-led growth

While the global economy grew 3.7 percent last year, South Korea’s growth marked a six-year low of 2.7 percent.Government spending, however, surged 5.6 percent, the largest increase in 11 years. Growth contribution by government expenditures in the fourth quarter reached 1.2 percentage points, the highest since the first quarter of 2009, while the private sector’s contribution shrank to negative 0.3 percentage points in the quarter.Last year’s growth was effectively propped up with taxes. Howeve

Jan. 23, 2019

[Editorial] Fair probe

There are several solid reasons the state prosecution should conduct a fair and thorough investigation of the allegations surrounding Rep. Sohn Hye-won. Most of all, the scandal smacks strongly of a typical case of conflict of interest. At the core of the case is that people close to Sohn, a member of the National Assembly Culture Committee, massively purchased properties in an old town in the southwestern port city of Mokpo. The property purchases – totaling as many as 25 – took place before an

Jan. 22, 2019

[Editorial] Stewardship code

In July, the country’s state pension operator introduced the stewardship code, a set of principles intended to get institutional investors to actively engage in corporate governance to enhance shareholders’ interests.The National Pension Service, South Korea’s top institutional investor and the world’s third largest, with 630 trillion won ($560 billion) in assets, holds more than 5 percent stakes in 297 local listed firms, including Samsung Electronics, SK hynix, Hyundai Motor and Posco.The NPS

Jan. 21, 2019