Most Popular
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Samsung entangled in legal risks amid calls for drastic reform
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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Seoul blanketed by heaviest Nov. snow, with more expected
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Seoul snowfall now third heaviest on record
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Samsung shakes up management, commits to reviving chip business
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K-pop fandoms wield growing influence over industry decisions
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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Seoul's first snowfall could hit hard, warns weather agency
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How $70 funeral wreaths became symbol of protest in S. Korea
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[Tim Culpan] US nabbing Huawei is dog that caught the car
The US is looking like the dog that caught the car. It needs to decide what to do next.Except that Wanzhou Meng is a person. She’s the chief financial officer of Huawei Technologies as well as deputy chairwoman and the daughter of its founder. She’s in Canadian custody awaiting extradition to the US, and China is outraged. With Huawei finally being fingered for alleged sanctions-busting, a charge already leveled at compatriot ZTE, the US Department of Justice and the Trump administration have an
Dec. 9, 2018
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[Bernard-Henri Levy] Will Yellow Vests reject Brown Shirts?
From the moment the French government canceled its planned fuel tax hike in the face of massive protests, it was obvious the move would be perceived as inadequate, insignificant and above all incapable of having any calming effect. Honor to whom honor is due: the Yellow Vests claim to be an expression of the sovereign people. But they now bear a heavy responsibility.For starters, they must announce a moratorium on demonstrations and blockades for a period long enough to accommodate the dialogue
Dec. 9, 2018
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[Signe Poulsen] Inter-Korean talks best way to commemorate 70th anniversary of UDHR
The high-level talks that have dominated the news headlines in 2018 represent a real opportunity for decreasing tensions and improving relations between states on the Korean Peninsula and in the wider region. The successful removal of some of the most destructive weapons known to humankind would be a tangible sign that the region is emerging from an era of inter-state relations characterized by enmity, mistrust and aggression. What is currently missing from these high-level talks, involving some
Dec. 9, 2018
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[Joseph E. Stiglitz] Beyond GDP
Just under 10 years ago, the International Commission on the Measurement of Economic Performance and Social Progress issued its report, “Mismeasuring Our Lives: Why GDP Doesn’t Add Up.” The title summed it up: GDP is not a good measure of well-being. What we measure affects what we do, and if we measure the wrong thing, we will do the wrong thing. If we focus only on material well-being -- on, say, the production of goods, rather than on health, education, and the environment -- we become distor
Dec. 6, 2018
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[James Stavridis] 5 steps for America to retake global leadership
As we approach the end of a long and complex year, and a turbulent election that saw a change of power in the House, it seems an appropriate time to hit pause and contemplate an approach toward a long-term global strategy for our country. We live in a highly tactical age, one that often seems categorized by the old saying, “the carnival moves on.” We seemingly have lost the collective ability to stop and consider where America needs to set its course.Strategy is actually simple: it is the ration
Dec. 6, 2018
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[Leonid Bershidsky] How to annoy Europe: Cancel Brexit
The top European court now is highly likely to rule that the UK can cancel Brexit unilaterally. For all the domestic political hurdles such a move would face, it’s intriguing to ponder how Europe would take it if the UK did cancel Brexit.Last year, a group of Scottish lawmakers asked a court in Scotland whether, having initiated an EU exit procedure under Article 50 of the Lisbon Treaty, a country can revoke the decision without other member states’ consent. The court referred the question to th
Dec. 6, 2018
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[Eli Lake] Lindsey Graham’s plan for regime change -- in Saudi Arabia
Give Lindsey Graham credit. When it comes to regime change, at least he is consistent. The Republican senator from South Carolina has supported the removal of dictators from US adversaries such as Iraq and Libya, and now he wants new leadership for a crucial US ally: Saudi Arabia. Crown Prince Mohammed bin Salman “is a wrecking ball,” Graham said at a press conference Tuesday after he and a small group of senators had received a CIA briefing on the October murder of Washington Post journalist Ja
Dec. 6, 2018
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[Bloomberg] Japan needs to change attitude to foreigners
Even as politicians in the US and Europe rage about foreigners supposedly swamping their shores, one of the world’s most insular countries -- Japan -- is on the verge of passing what might be its most sweeping immigration reform to date. Welcome as this would be, the plan isn’t sweeping enough.A bill approved by the lower house of the Diet would open Japan’s doors to two types of foreign workers. Lower-skilled laborers in 14 sectors would for the first time be able to apply for five-year visas a
Dec. 6, 2018
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[Andrew Browne] Xi’s not for turning? Don’t be so sure
As president-for-life, Xi Jinping is neither bound by rules nor limited by rivals. He has upended a careful political balance by concentrating power in his own hands, and overturned a cautious approach to foreign policy, while throwing in jail anyone he views as a threat. China’s most dominant leader since Mao Zedong now has 90 days to head off an all-out trade war with the US provoked, in part, by his own mercantilist policies. Can anybody convince him to make a U-turn?Strong-willed politicians
Dec. 5, 2018
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[Nisha Gopalan] Starbucks, there’s a unicorn in your china shop
Investors may worry that the trade war will wreak havoc on Starbucks’ prospects in China, its second-largest market. The real concern isn’t any kind of patriotic boycott, but competition from a homegrown challenger.Luckin Coffee, which officially launched in January, already has more than 1,500 stores in 21 cities across China. Starbucks, whose mainland adventure began in 1999, has more than 3,400 outlets in 140 cities. Both are racing to expand further: Luckin is aiming for 2,000 stores by year
Dec. 5, 2018
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[Kim Myong-sik] Realistic fantasy in final days of detente year
North and South Korea completed the destruction of 10 guard posts on either side of the Demilitarized Zone and removed personnel from those positions last week to make a portion of the heavily fortified border a real no man’s land. The two Koreas have thus accomplished one symbolic task in the list of tension-reduction measures signed by their top leaders in their summit in Pyongyang in September. Work details from the South and North Korean armies have also finished clearing mines in the centra
Dec. 5, 2018
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[Leonid Bershidsky] France faces typical Facebook revolution
The liberating role social networks played during the Arab Spring and the Russian protests of 2011 and 2012 was widely lauded. Little of that enthusiasm is on display today amid the violent “yellow vest” protests in France -- even though Facebook is still doing what it does best: letting people channel their rage.In a 2011 paean to “the Facebook revolution,” Chris Taylor of the tech news website Mashable wrote that Facebook was “democracy in action.” Philip Howard of the University of Washington
Dec. 5, 2018
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[Kim Hoo-ran] Not walking the talk
Korea ushered in the era of 5G era at the stroke of midnight on Dec. 1, when the country’s three mobile carriers -- SKT, KT and LG Uplus -- simultaneously switched on 5G networks. Although the services are limited to business users on fixed-wireless access, with the roll out of 5G cellular services for consumers expected in March 2019, the day was marked with much fanfare by the mobile carriers as they offered visions of a world more connected than ever at a faster speed than ever. Things that d
Dec. 5, 2018
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[Tyler Cowen] Trump deserves some credit for a truce with China
Just because the US and China have agreed to call a truce in their trade war doesn’t mean that it’s over: This was a classic exercise in can-kicking. Nonetheless, most cans have quite a few kicks in them, and overall this is good news for the global economy. Instead of sweeping everything under the rug, as was the case before US President Donald Trump took office, America and China have found a new way of addressing conflict by talking openly.Let’s consider the announcement itself. The US has pl
Dec. 4, 2018
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[Robert J. Fouser] Listen to the broad middle
Labor strife in South Korea is back in the news, as the Korean Confederation of Trade Unions launched a general strike on Nov. 2l. The KCTU also boycotted a meeting of the Economic, Social and Labor Council, a newly expanded presidential commission designed to develop policy consensus on economic and social issues. The KCTU is protesting the bipartisan agreement to relax temporarily the recently established 52-hour limit on weekly working hours.In its protests, the KCTU argued that President Moo
Dec. 4, 2018
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[Mohamed A. El-Erian] G-20 gives markets a short-term win
The G-20 Summit in Argentina ended without fireworks involving the US, which was appropriate in a way, given the pall cast by the death of President George H.W. Bush.The US went along with a watered-down communique rather than stand in the way of a consensus, as it recently did at the APEC summit and the G-7. And rather than ending the meeting with a dramatic breakthrough or a loud breakdown, America reached an agreement to freeze trade tariffs with China that went somewhat beyond the one it rea
Dec. 4, 2018
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[Hal Brands] Elizabeth Warren has (half) a foreign policy
A crucial challenge for the Democratic Party is to formulate a foreign policy platform that goes beyond critiquing US President Donald Trump and lays out a compelling vision of America’s role in an increasingly dangerous world.Sen. Elizabeth Warren, who will likely be a leading candidate for the party’s nomination in 2020, offered up her vision in a recent speech at American University. That speech, and an accompanying article in Foreign Affairs, outlined a strategy of progressive internationali
Dec. 4, 2018
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[Kim Seong-kon] The fear index based on Korea’s future
The fear index, also known as the Volatile Index, refers to the stock market’s expectation of volatility and investors’ anxiety amid extreme uncertainty. “The Fear Index” is also the title of famed British writer Robert Harris’ novel about the financial crisis that swept the world due to the subprime mortgage crisis in 2007 and the Lehman Brothers’ bankruptcy in 2008, which culminated in the Flash Crash of 2010 that created panic for 36 minutes all over the world. Due to the fear index that may
Dec. 4, 2018
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[Shannon O’Neil] Latin America’s new populism isn’t about economy
A year ago, Latin American nations and their bevy of pragmatic, market-friendly, middle-of-the-road presidents stood out from some of their OECD counterparts. Eight presidential races later, the region looks less exceptional. Populism has returned to its historic home. Yet this time injustice, not economic class, turned voters against the political establishment, elevating outsiders who have threatened to undermine democratic norms.Democracy’s supporters shouldn’t yet despair, as many of the reg
Dec. 3, 2018
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[Noah Smith] Growth remedy for wage stagnation
Wages for the average American aren’t rising very quickly. Apart from a brief burst of growth in late 2014 and 2015, both average hourly earnings and total compensation (which includes health care and other benefits) have barely grown at all since 2010 when adjusted for inflation.It seems possible that recent wage stagnation is connected to the longer-term trend.In reality, there are several trends. The first is sluggish productivity growth. Overall, the amount of material wealth in an economy i
Dec. 3, 2018