[Editorial] Look to the people

Rep. Jung Chung-rae, a lawmaker well known for his hard-line stance and rough way with words, was elected chair of the ruling Democratic Party in its national convention last Saturday. He said in his acceptance speech that the insurrection was not over yet and that the party must root out "insurrectionist" forces. He defined the main opposition People Power Party as "a force which tried to destroy the Constitution" and his party as "a force trying to defend it." He also said if the People Power

Aug. 5, 2025

[Editorial] Resetting the alliance

President Lee Jae Myung’s summit with US President Donald Trump this month is expected to mark a turning point in the Korea-US alliance. It will be their first in-person meeting since Trump returned to the White House in January, and it follows Seoul’s hard-won tariff deal that secured trade terms on par with those for Japan. But economic parity is only part of the story. As security threats multiply and US foreign policy grows increasingly transactional, the summit presents an opportunity for S

Aug. 4, 2025

[Editorial] Take down hurdles

The global success of “KPop Demon Hunters,” an animated film released on Netflix in June, has provided an unexpected boost to Korea’s soft power. The film, in which a fictional K-pop girl group battles demons with music-infused powers, has topped streaming charts in over 30 countries and propelled its soundtrack to second place on the Billboard 200. But perhaps more telling than the film’s entertainment value is what it revealed about Korea’s export potential and its limitations. While fans from

Aug. 1, 2025

[Editorial] Corporate anxiety

Two bills certain to dampen Korean companies’ activity are set to become law. The more concerning of the two is the so-called "Yellow Envelope Bill," which would revise Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act. Industrial and business circles have expressed concerns about the bill numerous times, but the government and the ruling Democratic Party of Korea have pressed ahead with the legislation. The majority party on Monday passed the bill and a Commercial Law revis

July 31, 2025

[Editorial] Banking beyond margins

South Korea’s four largest financial groups — KB, Shinhan, Hana and Woori — posted a combined net profit of 10.33 trillion won ($7.42 billion) in the first half of 2025, setting a new record. What makes this figure striking is not only its magnitude but the underlying composition of these earnings. Despite four benchmark rate cuts by the Bank of Korea since late 2024, commercial banks promptly lowered deposit rates but were reluctant to reduce lending rates. As a result, the net interest margin

July 30, 2025

[Editorial] Improper meeting

It was recently revealed that National Assembly Speaker Woo Won-shik visited the incarcerated former leader of the minor Rebuilding Korea Party earlier this month. Woo met Cho Kuk in the Seoul Southern Correctional Institution on July 9, according to Yonhap News Agency on Saturday. It was a special visit, known as a "visit with change of location" in Korean. Unlike regular inmate visits, which are limited to 30 minutes, there is no time limit. Special visits also take place in a more private set

July 29, 2025

[Editorial] Beef and barriers

As the Aug. 1 deadline for US reciprocal tariffs approaches, South Korea faces intensifying pressure to make politically sensitive trade concessions. Nowhere is this tension more visible than in the dispute over American beef. On July 24, US President Donald Trump took to social media to praise Australia’s decision to open its beef market — including imports of cattle over 30 months old — and warned that countries refusing “magnificent” US beef were “on notice.” Among major US trade partners, So

July 28, 2025

[Editorial] Securing a fair deal

As Japan and the United States conclude a high-profile tariff agreement, attention has quickly turned to South Korea. Tokyo’s willingness to open its agricultural market, commit to joint energy projects and pledge a record-breaking $550 billion in US-bound investment has earned it a reduction in reciprocal tariffs from 25 percent to 15 percent — a benchmark now hardening into a minimum standard for Washington’s other major trading partners. South Korea finds itself in a more compressed timeframe

July 25, 2025

[Editorial] Justice prevails

Gender Equality and Family Minister nominee Kang Sun-woo expressed her intent to withdraw from consideration as minister Wednesday. A day earlier, President Lee Jae Myung requested the National Assembly send the confirmation hearing report on Kang Sun-woo to him by Thursday, indicating his willingness to appoint her even if the Assembly failed to adopt the report. Her volutary withdrawal from candidacy means that justice prevailed in the long run. It also lessened President Lee's political burde

July 24, 2025

[Editorial] Reinventing manufacturing

A decade ago, warnings about the erosion of South Korea’s manufacturing competitiveness were met with indifference or denial. Today, they land with the weight of hindsight. Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry, offered a stark diagnosis last week: Without a wholesale reinvention driven by artificial intelligence, much of the country’s manufacturing base may disappear within 10 years. That prospect is no longer theoretical — it is already taking shape.

July 23, 2025

[Editorial] Corporate anxiety

Korean companies are concerned that the Lee Jae Myung administration and the ruling Democratic Party of Korea are stepping up legislation that could add to their burdens, following the revision of the Commercial Act. The revised Commercial Act proposed by the party passed the National Assembly on July 3. The revision expands the fiduciary duty of corporate board members to serve the interests not only of their companies but of shareholders as well. Business circles worry that the change could ma

July 22, 2025

[Editorial] Predictable but not prevented

Once considered rare, catastrophic summer downpours are now a seasonal certainty in South Korea. Over the last week, torrential rain swept through southern regions, submerging roads, toppling infrastructure and claiming at least 14 lives. In Sancheong, South Gyeongsang Province, alone, six people died and seven were left missing in landslides and flash floods, the government said Sunday. The rain has not yet ceased, and the toll may still rise. Yet this is no longer a one-off disaster. In recent

July 21, 2025

[Editorial] Mixed messages

The notion of a country’s main enemy — or “jujeok” in Korean — is not just symbolic rhetoric. It is the fulcrum around which national defense policy, military readiness and diplomatic posture revolve. Yet the Lee Jae Myung administration’s incoming ministers are offering strikingly divergent views on North Korea’s status. In a region where miscalculation can lead to catastrophe, the lack of clarity is not a luxury South Korea can afford. During confirmation hearings this week, Unification Minist

July 18, 2025

[Editorial] Knotty trade issue

Further opening of the Korean agricultural and livestock markets has emerged as a major issue in Korea's tariff and trade negotiations with the US. Trade Minister Yeo Han-koo said that trade negotiations on the agricultural sector always come with pain, but that there are some parts in which the country can make strategic decisions for a broader trade deal. He made the remark Monday during a meeting held with reporters to brief them on the progress of tariff negotiations he had during his visit

July 17, 2025

[Editorial] Restoring medical education

After nearly 17 months of disruption, South Korea’s medical students have announced a return to school. The Korean Medical Students’ Association, in coordination with the Korean Medical Association and parliamentary committees, declared on July 12 that students would resume classes “in trust of the government and the National Assembly.” This is a welcome turn in a prolonged standoff that has caused lasting damage to both medical education and public health. However, normalization must not come a

July 16, 2025