The U.N. Security Council’s draft sanctions resolution against North Korea has been unveiled. U.S. Ambassador to the U.N. Samantha Power outlined key points of the draft to reporters Thursday before it is formally adopted.　The latest resolution contains “the strongest set of sanctions imposed by the Security Council in more than two decades.” The measures are geared toward severely restricting North Korea’s access to the funding, technology and know-how needed to advance its illicit nuclear and

Editorial Feb. 26, 2016

Seven years after issuing an executive order promising “promptly to close detention facilities at Guantanamo,” President Obama pleaded with a skeptical Congress on Tuesday to accept a plan to shut that facility in Cuba and relocate some detainees to secure facilities in the United States. Congressional consent is necessary because of a law -- signed, albeit reluctantly, by Obama -- that prohibits the use of federal dollars to transfer Guantanamo inmates to the U.S. or to build facilities in the

Editorial Feb. 26, 2016

　　A consensus on North Korean sanctions by the U.S and China will be beneficial to South Korea, as this could delay Washington’s plan to deploy the Terminal High Altitude Area Defense system on the peninsula.　In return for an agreement on reprimanding North Korea, the U.S might decide to halt -- albeit temporarily -- the deployment of THAAD. This could help South Korea avoid clashing with China on the commercial front.  　Trade, Industry and Energy Minister Joo Hyung-hwan recently dismissed the p

Editorial Feb. 25, 2016

The Korean won has continued to slide against the Japanese currency since the fourth quarter of last year. The yen has recently gained further as investors seek safe assets after “Brexit” worries led to a plunge in the value of the British pound.　The Japanese currency is hovering over 1,105 won per 100 yen, which is its strongest position since September 2013. The situation has reversed from just several months ago, when the yen was weak against the won because of Japan’s quantitative-easing mea

Editorial Feb. 25, 2016

It is urgent for the government to raise the alarm and map out security measures against possible terror attacks from the jihadist extremist group the Islamic State, aside from its readiness posture over another North Korean provocation.　Seoul may have to take the terror threat more seriously than the habitual blackmail from Pyongyang. The nation is not safe from IS-led terrorism -- the militant group included South Korea twice, in September and November last year, as one of its future destinati

Editorial Feb. 23, 2016

Huawei Technologies has unveiled its vision to overtake Samsung Electronics in five years in smartphone market share, after beating the world’s second-largest manufacturer, Apple, by 2019.　The Chinese electronics company grabbed the No. 3 spot in smartphone shipments at the end of 2015, posting 44.3 percent annual growth. It is also targeting a 30 percent increase this year, which would bring its 2016 sales to over 140 million units.　Some market insiders in South Korea might say Huawei is too op

Editorial Feb. 23, 2016

　U.K. Prime Minister David Cameron has reached a deal with Europe’s other leaders on new terms for Britain‘s membership in the European Union, and says the promised referendum on whether to remain in the EU will take place on June 23. He has four months to persuade a closely divided country to stay.　For the sake of the U.K. and the EU both, he needs to succeed -- but he’s leading a divided government and a divided Conservative Party. This isn‘t going to be easy.  　Michael Gove, the justice minis

Editorial Feb. 23, 2016

North Korea is reportedly likely to carry out a long-range missile test in the near future. Japan’s Kyodo News agency, quoting a Japanese government source, reported Thursday that the launch could come as early as in a week. Seoul’s Defense Ministry, which neither confirmed nor denied the report, said the military had been keeping close tabs on the launch site in the North’s northwestern region. 　It has been customary for the North to launch a long-range rocket before or after a nuclear bomb tes

Editorial Jan. 29, 2016

The results of the second telemedicine trial project are in. The Ministry of Health and Welfare said more than 80 percent of the patients who received telemedical care expressed satisfaction. Encouraged by the outcome, the ministry plans to launch another trial project next month on a much larger scale. 　The second project was carried out between March and December last year, involving some 5,300 patients in various places, including islands, remote rural areas, military camps, ocean-going vesse

Editorial Jan. 29, 2016

The South Korean economy underwent an extreme slump in exports and weaker-than-expected recovery in private consumption last year. A series of government-led stimulus policies had to face a number of unfavorable external factors.　From the beginning of 2016, uncertainties have started clouding the local market. Among those are the economic slowdown of China — largest export destination of Korea — a deep slide in international crude prices and the Korean currency’s volatility against major currenc

Editorial Jan. 15, 2016

North Korean leader Kim Jong-un, like his late grandfather and father, is striving to make a parade of the communist country’s military power both internally and on the international stage.　The young dictator appears more paranoid, compared to his late father and grandfather, about the possibility of regime collapse by a coup led by the country’s high-profile military officials.　It seems that Kim’s alleged trepidation over a military coup or civil revolt is pressing him to create habitual geopol

Editorial Jan. 15, 2016

　Undeniably, some negative external factors created big hurdles for the export-driven economy last year. Among those were economic slowdowns in some of South Korea’s key export destinations.　Nevertheless, it would be an irresponsible stance if any enterprise focused only on finding reasons to justify a retreat in its trade performance.　Cheap crude oil has been one of the few frequent excuses raised by some business lobbies and conglomerates for their sluggish exports and overseas development pro

Editorial Jan. 3, 2016

Following the deal between the South Korean and Japanese governments on wartime sex slavery last month, Taiwan is striving to open similar negotiations with Japan over the same issue for an apology and compensation.　Some foreign news outlets reported that the Taiwanese Foreign Ministry has already reached a consensus with its Japanese counterpart on starting discussions as early as this month on compensating Taiwan’s victims.　Historic records show that about 200,000 Asian women were dragged into

Editorial Jan. 3, 2016

National Assembly Speaker Chung Ui-hwa has been under strong pressure from President Park Geun-hye and the ruling Saenuri Party to play the villain in enacting a set of reform bills. But Chung, a fifth-term lawmaker, is not a pushover. 　On Wednesday, Saenuri lawmakers held a general meeting to adopt a resolution calling on the speaker to directly refer the bills to a plenary session for voting, as the relevant standing committees could not be convened for deliberations due to the split of the ma

Editorial Dec. 18, 2015

Investors as well as policymakers around the world are on alert as the U.S. Federal Reserve has finally raised its benchmark interest rate for the first time in nearly a decade.　The U.S. central bank hiked Wednesday the federal funds rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent, putting an end to the era of zero interest rates.　The Fed’s move did not cause turmoil in global financial and commodities markets. In fact, stock markets in Korea and other major coun

Editorial Dec. 18, 2015