[Jeffrey Frankel] Is a global recession really imminent?

The world’s leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year’s end, the global slump has been postponed to 2023. Clearly, the reports that the United States was in recession during the first half of the year were premature, especially given how tight the US labor market is. And, despite the confidence with which many again proclaim the inevitability of a downturn, t

Dec. 26, 2022

[Nicholas Goldberg] Iran unrest is about more than hijab

I once spent a week in a region of southern Sudan where almost none of the women covered their breasts, and then just two weeks later I flew to Iran, where women are required by law to cover their hair with hijabs as a sign of modesty. It was a stark reminder of how cultures are different, laws vary and rules about women's behavior are shockingly arbitrary. I began to wonder why we in the West think our own modesty standards are any more appropriate than anyone else's. For a while af

Dec. 23, 2022

[Lee Kyong-hee] A dead truth seeker’s unfinished war

As 2022 draws to a close, I want to pay tribute to a man who devoted his entire life to correcting inaccuracies of modern history and thereby preventing a repeat of foreign territorial ambition on Korean soil. This year marked the 20th anniversary of the death of this self-taught bibliographer and historian, Lee Jong-hak. In remembrance, museums celebrated his life. With the impact of Russia’s territorial grab in Ukraine echoing around the world, the importance of Lee’s self-appoin

Dec. 22, 2022

[Doyle McManus] Democracy looks a little healthier

More than a decade ago, scholars began pointing to a troubling global trend: a "democratic recession." Dozens of countries were drifting away from democracy toward authoritarianism. The list of backsliders has spanned the globe from India and South Africa to Hungary, Poland, Mexico -- even, in recent years, the United States. Freedom House, a nonprofit organization that rates countries on electoral practices, civil liberties and other measures, has reported 16 consecutive years of the

Dec. 22, 2022

[Kim Seong-kon] Antisocial socialism vs. inhumane capitalism

We all know that both socialism and capitalism have their own upsides and downsides. The capitalist system creates polarization between the poor and the rich in an inhumane environment. Socialism creates a society of equal poverty, totalitarianism and dehumanization. The dilemma we face is that we have to choose one or the either. For some inscrutable reason, many Koreans seem to be in favor of socialism and thus ardently support radical politicians who proclaim they advocate for a socialist sta

Dec. 21, 2022

[Martin Schram] A MAGA gift for our friends

This holiday season let’s try to bring a little comfort and joy to our close friends who are feeling disheartened and disillusioned. They realize now that they have been repeatedly disappointed by someone they truly trusted for years. And now we can give these friends a special gift by helping them find a worthy, and much more trustworthy, successor. And in the spirit of the season, we need to make sure the gift we give doesn’t come wrapped in political lectures and tied with ribbons

Dec. 21, 2022

[Herald Interview] Poland-Korea partnership crucial for Ukraine rebuild

Polish Finance Minister Magdalena Rzeczkowska said it is important to provide financial assistance to Ukraine by establishing platforms that bring international financial institutions, governments and private investors together, and South Korea could be part of such efforts. "Ukraine needs help for now," said Rzeczkowska in an interview with The Korea Herald, urging Polish and Korean companies to activate partnerships for rebuilding Ukraine and to utilize Poland’s investment clim

Dec. 20, 2022

Bangladesh honors EPS workers on Int'l Migrants Day in Korea

The Bangladesh Embassy in Seoul honored 26 Bangladeshi Employment Permit System (EPS) workers in six categories at an event held to celebrate the International Migrants Day 2022 last week. Korea introduced the work permit system in 2004 to systematically manage the foreign workforce in Korea and resolve labor shortages at local small and medium-sized companies. The workers were honored for being employed under same employer for the longest period of time; receiving awards from the Korean governm

Dec. 20, 2022

Qatar stresses elevated ties with Korea at national day celebration

  The Qatari Embassy vowed to boost economic and cultural cooperation with Korea during its national day celebrations here last week. Qatar’s national day, which falls on Dec. 18, commemorates the 1878 accession of Sheikh Jassim bin Mohammed bin Thani, who unified the Qatari peninsula, which borders Saudi Arabia and juts into the Persian Gulf. Citing the vision of Emir of Qatar Tamim bin Hamad Al Thani, Qatari Ambassador Khalid Ibrahim al-Hamar said Qatar’s approach focused on c

Dec. 20, 2022

Indian embassy celebrates 49th anniversary of bilateral ties

The Indian Embassy in Seoul hosted an event to mark the 49th anniversary of India-Korea diplomatic relations in Seoul Friday. The event was organized as part of a curtain raiser for yearlong celebrations of 50 years of bilateral ties in 2023. Delivering remarks at the event, Indian Ambassador to Korea Amit Kumar recalled major events and the history between the two countries, stressing India's role during the 1950-53 Korean War and the Special Strategic Partnership forged in 2015. Kumar sai

Dec. 20, 2022

[Photo News] Honorary Ambassador

Figure skater and Olympics gold medalist Yuna Kim (right) poses with Canadian Embassy Charge d' affaires Tamara Mawhinney after she was named honorary ambassador for the 60th anniversary of Canada-Korea diplomatic relations on Monday at the Canadian Embassy in Seoul. Kim who spent some years in Canada for her training will participate in various activities and events celebrating the 60th year of bilateral ties next year.

Dec. 20, 2022

[Trudy Rubin] Congress wants to send Afghan allies back to Taliban

Before the United States made its chaotic exit from Afghanistan in August 2021, Congress had promised special immigrant visas to Afghans who worked with our military or civilians. Once our allies were without the protection of American forces, they would surely face Taliban revenge. As US troops left, about 80,000 Afghans did make it out of the country, most with the help of their US military colleagues (although tens of thousands who were qualified were left behind). But there was no time for

Dec. 20, 2022

[Daniel DePetris] China is pushing Japan into building up military

Japan isn’t known for being an aggressive country in the world of foreign affairs. Successive Japanese governments have taken pains to emphasize their peacelike nature, a direct consequence of Tokyo finding itself on the losing side of the most horrific war of the 20th century. Japan’s constitution renounces the use of force as a “means of settling international disputes,” and at $54 billion as of last year, its defense budget is extremely modest compared with its $4.9 tr

Dec. 19, 2022

[Mark Weisbrot] Wild inflation? Not anymore

Do Americans understand what is happening with inflation in this country? This is an important question, because the public’s perception can influence national policy and political choices. Before the midterm elections one month ago, 87 percent of likely voters told pollsters that inflation was extremely or very important in deciding their vote. Let’s take a simple example of what most Americans see most in the news, and compare this with the data that economists, and journalists who

Dec. 19, 2022

[Robert J. Fouser] South Korea’s resiliency in 2022 begins to fray

The biggest news story of 2022 was, without question, the Russian invasion of Ukraine in February. The war is the most severe conflict in Europe since 1945 and has raised tensions between nuclear-armed NATO and Russia to the highest level since the Cold War. The next biggest news story was the return of inflation in much of the world. Rising prices have pinched family budgets and caused labor and social unrest. To tame inflation, central banks have raised interest rates rapidly, which has added

Dec. 16, 2022

[Serendipity] Young pianist opens up new universe

He was as bold as he is young. Pianist Lim Yun-chan, shorn of his heavy, wavy mane, walked onto the stage at Seoul Arts Center Concert Hall Saturday, his stride confident, his first step a loud thump. He sat himself in front of the piano and, without a second’s hesitation, hit the first note of Orlando Gibbons' “Lord Salisbury,” Pavan and Galliard. Lim, who, at 18, became the youngest ever winner at the prestigious Van Cliburn International Piano Competition in June began

Dec. 15, 2022

[Allison Schrager] The perils of superstar culture in industries

One of the reasons the public is obsessed with Harry and Meghan is that they represent an important economic trend that resonates well beyond the British royal family: the rising tension between individual branding and the power and prestige of being part of an institution. And it’s not just the royals; it’s an issue for all industries. In the past, if money and security and status were what you craved, your path was clear: You got a job at the most prestigious institution you could

Dec. 15, 2022

[Trudy Rubin] US, China at Chip War involving Taiwan

Most Americans are unaware that the United States is already fighting a war with China that involves Taiwan. This war isn't yet being fought with weapons. Instead, it is a battle to control the world's most critical technology: the design and production of microchips -- on which virtually everything in our modern world depends. From microwaves to smartphones to cars, from the stock market to missiles -- our economy and military run on the tiny silicon chips that power computer systems.

Dec. 15, 2022

[Doyle McManus] US policy makes Ukraine fight by rules Russia doesn’t follow

Last week, Ukraine pulled off an audacious military feat: three drone strikes deep inside Russia, one against a target less than 240 kilometers from Moscow. The drones attacked bases from which Russia has launched airstrikes against Ukraine’s cities, electricity grid and other infrastructure. It’s not clear that they caused major damage; at least two airplanes were struck, and a fuel storage tank was set ablaze. But they revealed a surprising weakness in Russia’s air defenses

Dec. 14, 2022

[Kim Seong-kon] Of soccer fields and political arenas

Soccer is undoubtedly the most popular sport among Koreans. Whenever World Cup season comes, many Koreans burn the midnight oil to watch the games with the Taeguk Warriors. Whenever a Korean player succeeds in a “goal-in,” shouts of joy burst out here and there from across apartment complexes in the middle of the night. At the ongoing World Cup in Qatar this year, the South Korean national soccer team did not fail the Korean people once again and performed quite well, reaching the ro

Dec. 14, 2022