The Korea Herald

[Andrew Sheng] Property bubbles and bank NPLs

How worrisome are real estate bubbles for the banking system? Based upon the recent subprime and then global financial crisis, they are very worrisome indeed. For households, a house is likely to be the largest single investment for most families. For companies, real estate and fixed assets are often, other than inventory, the most important assets, especially as collateral for loans from banks. F

Viewpoints April 8, 2011

[Andrew Sheng] Property bubbles and bank NPLs

[Yu Yongding] Monetary reform to make SDR reserve currency

The fundamental problem with the current international monetary system is that the U.S. dollar is used as the key international reserve currency, which gives the U.S. central bank the “exorbitant privilege” of printing the United States’ way out of its economic difficulties.And that is exactly what it is doing. Its printing presses are running at full speed in a bid to boost the U.S. economy, rega

Viewpoints April 8, 2011

[Yu Yongding] Monetary reform to make SDR reserve currency

[Editorial] Pork barrel

If a person wishes to succeed as a politician, one of the first things he needs to do is appeal to the concerns of those who have elected him into public office and convince them that he has their best interests at heart. Few can afford to ignore their concerns no matter how mundane or absurd they may appear.Thomas Phillip “Tip” O’Neill, Jr., a former speaker of the U.S. House of Representatives,

Editorial April 7, 2011

[Julia Allison] Netiquette 101

Boorish relatives, vengeful exes, inappropriate work attire, unsent thank-you notes ― traditional advice columnists have spent decades offering prescriptions for these gaffes.Now, thanks to social media, the Internet and any number of gadgets and innovations, we have the means to offend or upset people on an unprecedented scale. With every new technology, there are new ways to make an absolute foo

Viewpoints April 7, 2011

U.N. should be honest Mideast broker

In 2009, a United Nations panel led by Richard Goldstone issued a 575-page bombshell of a report. It accused Israel of committing war crimes against the Palestinians in a three-week Gaza invasion. The Goldstone report was a diplomatic bonanza for Israel’s enemies around the world. The report was so damning that some Israeli officials stopped traveling abroad for fear they’d be arrested for war cri

Viewpoints April 6, 2011

[Editorial] Money in envelopes

The prosecutor general has 18.9 billion won earmarked for “special activities” this year ― activities related to gathering information on crime and criminal investigations. He is not required to submit receipts with his claims on the grounds that they may reveal confidential information. As such, he may be tempted to spend the money for other purposes.Given that much of the prosecutorial work must

Editorial April 6, 2011

[Editorial] Desperate lawmakers

If a first-term National Assemblyman is banned from running for reelection because of his wife’s illegal campaigning for him, what should he do? He may try to complete his tenure honorably with exemplary legislative activities and prepare to return to his original profession. Rep. Kim Choong-hwan of the Grand National Party had a different idea; he decided to rewrite the law with the support of sy

Editorial April 5, 2011

[Editorial] Translation errors

In a press briefing Monday, Trade Minister Kim Jong-hoon apologized to the public for translation errors in the Korean language version of the Korea-European Union Free Trade Agreement. With the Cabinet approval of a corrected version on Tuesday, the bill for the ratification of the trade pact will now be submitted to the National Assembly for the third time, an embarrassing record in the country’

Editorial April 5, 2011

[Gregory Rodriguez] Business beats bigotry

Conservative Utah has bucked the national GOP trend of embracing hard-line ― and arguably inhumane ― laws meant to make states inhospitable to illegal immigrants. Two weeks ago, Utah Gov. Gary R. Herbert signed into law a bill that will grant work permits, and a path to legal residence, to undocumented immigrants and their immediate families.And conservative Arizona, which last year passed the ant

Viewpoints April 5, 2011

[Lee Jae-min] Taking Korea-Japan ties to next level

The outpouring of goodwill from Korea in the aftermath of the unprecedented tsunami was supposed to usher in a new era for Korea and Japan’s bilateral relationship. When the Japanese ambassador personally appeared in a live interview with an anchorman on KBS about two weeks ago, his fluency in Korean, understanding of Korean culture and sincere appreciation for the assistance from here endeared hi

Viewpoints April 5, 2011

[Lee Jae-min] Taking Korea-Japan ties to next level

Homecoming for victims of Stalin’s terror

TBLISI, Georgia ― Nearly 70 years after being deported by Stalin, members of the Meskhetian Turkish community are preparing to return to Georgia. But after all this time, it’s unclear exactly what kind of welcome they will receive.The Meskhetians were one of several ethnic groups who were deported from the Caucasus region during World War II because Stalin feared they might form a fifth column wit

Viewpoints April 5, 2011

[Kim Seong-kon] Men’s language vs. women’s meaning

Linguists assert that men and women talk differently and, as a result, run into communication problems. Their assertion may be true to some degree, but they are not always right. For example, some linguists contend that women are more garrulous than men. That is not true. For example, men tend to talk vociferously while conversing over drinks at a bar, and are usually more talkative than women whe

Viewpoints April 5, 2011

[Kim Seong-kon] Men’s language vs. women’s meaning

Wireless traffic jam and quest for bandwidth

The rapidly increasing demand for smartphones and mobile bandwidth has prompted some analysts and regulators to warn of a looming wireless traffic jam ― an irritant that some iPhone users in major cities have already experienced. Now, AT&T is proposing what it says is the fastest way to boost the capacity of its wireless network: buying T-Mobile. The $39-billion purchase would eliminate one of the

Viewpoints April 3, 2011

[Editorial] Parts supply

A disruption in the supply of one key part or component of a product may halt operations at assembly lines. A case in point involves the microcontrollers Korean companies import from Japan.Microcontrollers are systems, each with a processor, memory and peripherals, that are embedded in a wide range of home appliances and other sophisticated products. Samsung, LG, Daewoo and other Korean companies

Editorial April 3, 2011

[Editorial] Strong won

The Korean currency is strengthening fast, pushing the exchange rate to below the level of 1,100 won per U.S. dollar. In the past, such a rapid gain would have invited intervention immediately. A strong won was an anathema to top Korean economic policymakers, who wanted to generate high rates of growth by promoting exports.But the government does not even hint at intervening in the market, be it v

Editorial April 3, 2011

Articles by 최남현