Last year, the government tried every means to boost domestic consumption as exports ceased to play their traditional role of driving economic growth. It had to execute an 11 trillion-won supplementary budget to fuel domestic demand, as the outbreak of Middle East respiratory syndrome stifled consumer spending.  The government also organized a Korean version of Black Friday, a 15-day shopping promotion campaign aimed at stimulating domestic consumption and attracting shoppers from abroad.Thanks

Editorial April 8, 2016

Daejeong-eup on Jejudo Island might not be familiar to most in Korea, though the district, part of Seogwipo City, has already embarked on building its reputation as an emerging mecca for education by native English speakers. However, apart from a group of renowned international schools in Daejeong, the southwestern town of Jejudo Island is drawing wide interest among global environmentalists for its green energy-oriented islet Gapado Island.The islet is the pilot model for the “Carbon Free Islan

Editorial March 25, 2016

Recent volatility in the Korean won appears to be confusing a variety of parties such as currency dealers, exporters, importers and capital market investors. Korea’s central bank is also presumed to have been troubled by the unforeseeable situation.So far this year, the local currency has had a broader amplitude between strong and weak positons in a short period, being swayed by a tug-of-war between international crude oil prices and the U.S. dollar.Uncertainty seems to nearly be maximized about

Editorial March 25, 2016

North Korea raises tensions – usually by words and sometimes by provocative acts – at this time of the year, when South Korea and the U.S. hold annual joint military exercises. This year, the seasonal tension on the peninsula is being exacerbated by the U.N.-led international sanctions against the North’s recent nuclear test and launch of a rocket. Under the toughest-ever U.N. punishment of the North, the Philippines has already seized a North Korean ship. China, in a departure from its mediocre

Editorial March 8, 2016

Some major enterprises have been rushing to sell their real estate assets -- including their headquarters -- as part of efforts to brace for uncertainties, besides streamlining their operations and workforces.　This could be ordinary restructuring, as some insiders say, to save operating costs. But the timing is noteworthy as the real estate market is showing signs of sluggishness after a two-year bullish run.　Housing prices skyrocketed through the second and third quarters in 2015, buoyed by the

Editorial March 7, 2016