[Editorial] Diversify markets

South Korea's exports rose from a year earlier in June, rebounding from an on-year drop the previous month. Exports to the US and China decreased largely affected by their trade conflicts, while exports to Europe increased markedly. Exports came to $59.8 billion last month, up 4.3 percent from the same month last year, Ministry of Trade, Industry and Energy data showed Tuesday. Outbound shipments were the highest for any June. Semiconductors and cars, the country's top two export items, led the

July 3, 2025

[Editorial] Stablecoins, unstable ground

In Seoul’s financial circles, a new image is emerging: a digital coin emblazoned with the South Korean flag, suspended somewhere between statecraft and speculation. Once a fringe idea among cryptocurrency enthusiasts, the notion of a won-backed stablecoin has moved to the center of the country’s monetary policy debate. What appears to be a pragmatic embrace of innovation conceals deeper tensions about the architecture of money, institutional trust and the evolving role of central banks in a digi

July 2, 2025

[Kim Seong-kon] Do not wage 'war against the academy'

In the 1960s, the great literary critic Leslie A. Fiedler wrote an epoch-making essay, “The War against the Academy.” In the article, Fiedler advocated the free spirit of the 1960s against the trend toward institutionalism in literary criticism, such as the formalistic New Criticism, and proposed psychological and mythological approaches to literature instead. Such approaches, Fiedler wrote, were a “revolt against school and in particular against the University. Given the opportunity, the writer

July 2, 2025

[Shang-Jin Wei] Can Asia, Europe save world economy?

Countries around the world are confronting the same confluence of shocks. The continued breakdown of the global trading system, owing to a volatile US tariff policy, is now accompanied by the risk of disruptions to trade routes and oil production from military conflicts in the Middle East. Moreover, concerns about the safety of dollar-denominated assets are growing, because US President Donald Trump’s “big, beautiful” spending bill is expected to erode America’s already-weak fiscal position. At

July 1, 2025

[Editorial] Be consistent

Contrary to the Korean people's expectations for political parties to pursue the politics of integration under a new administration, the ruling Democratic Party of Korea is acting as it pleases. Just one day after President Lee Jae Myung emphasized communication with the opposition in his speech on Thursday, calling for the passage of an extra budget bill, the Democratic Party monopolized the leadership of four major committees. The opposition People Power Party had demanded the National Assembl

July 1, 2025

[Grace Kao] Life as a K-pop trainee begins at hagwon

Most children in Korea spend part of their daily lives at a hagwon, or a private academy sometimes referred to as a “cram school.” While the majority of these institutions offer classes in academic subjects such as English and math, some prepare students for an audition to be a K-pop trainee. I visited one last month and was stunned by what I witnessed. Modern K Music Academy has five campuses — Seoul, Suwon, Bundang, Yeongtong and Incheon. I visited its largest, the Suwon Campus. The academy cu

July 1, 2025

[Lee Kyong-hee] Recalibrate moves for peace in Korea

One day in late 2017, after work at the Pentagon, then-US Secretary of Defense James Mattis quietly slipped into the National Cathedral in Washington. Mattis directed his security detail to allow him to enter alone so he could pray and reflect. “What do you do if you’ve got to do it?” Mattis asked himself. “You’re going to incinerate a couple million people.” He had been in enough wars to know what one on the Korean Peninsula would entail. Now the question for him was how to fulfill his duty kno

June 30, 2025

[Editorial] New curbs, old fears

Just 23 days into President Lee Jae Myung’s term, the South Korean government has unveiled its most forceful intervention in years to tame a resurgent property market. On Friday, authorities introduced sweeping restrictions on household borrowing, marking the administration’s first major policy initiative and offering early clues to its governing style. At the core of the package is a strict cap on mortgage lending for property purchases in the capital region. Beginning this week, buyers will be

June 30, 2025

[Robert J. Fouser] South Korea’s AI goals

New presidents in South Korea stir a wave of new policies and big national goals. As the country has developed, new presidents have shifted away from big national goals in favor of a longer list of policy initiatives. President Lee Jae Myung’s all-out push to improve AI competitiveness represents a shift back to big goals. The president aims to make South Korea one of the top three most competitive nations in AI by the end of his term in 2030. Like many previous big goals, this is ambitious but

June 27, 2025

[Editorial] Deterrence vs. dialogue

In the uncertain wake of the ceasefire between Israel and Iran — a truce brokered in part by US President Donald Trump’s abrupt decision to enter the conflict — the physical ruins offer more than a lesson in escalation. They reflect a deeper, more enduring question for another tense region: the Korean Peninsula, where policymakers in Seoul are left to assess not triumph but strategic exposure. The 12-day confrontation between Israel and Iran came to a halt not through negotiation but through a d

June 27, 2025

[Editorial] Job blues

The employment situation for young people, women and older workers is deteriorating. According to a Federation of Korean Industries report, released on Tuesday, that analyzed employment indices of a 10-year period (2014-2023), employment rates of Korean youth, women and workers over 55 rose somewhat over the time period but they ranked middle or low among 38 member states of the Organization for Economic Cooperation and Development. Korea's youth (aged 15-29) and women (aged 15-64) employment ra

June 26, 2025

[Wang Son-taek] Is the specter of 9/11 rising again?

US President Donald Trump has once again shaken the global order — this time through a direct military strike on some targets in Iran: nuclear facilities that produce enriched uranium. The bunker-buster assault, launched under Trump's direction, marked a rare instance of a direct US attack on Iranian soil. Although the immediate result was a ceasefire between Israel and Iran, the strategic and ethical implications of the strike are far more disturbing than they first appeared. Following the US s

June 26, 2025

[Editorial] A pause in the storm

Tensions soared early Sunday as the US launched strikes on key nuclear facilities in Iran. Less than 48 hours later, US President Donald Trump announced a “complete and total” ceasefire between Israel and Iran on social media. The twelve-day conflict in the Middle East, which had threatened to spiral further, now appears to be winding down. Oil prices dipped and global markets edged higher, reflecting a collective sigh of relief from investors and governments alike. For South Korea, the immediat

June 25, 2025

[Kim Seong-kon] How to prevent the second Korean War

The Korean War broke out 75 years ago on June 25, 1950. Those who fought in the war, if not already dead, would now be in their mid-90s, and those who were born at that time are now at least 75 years old. That means that today, no one under 75 in Korea experienced the atrocity of the Korean War. In that sense, the Korean War has become a “forgotten war” not only internationally, but even in Korea, too. However, we must not forget the soldiers, both domestic and foreign, who fought for our freedo

June 25, 2025

[Grace Kao] Love is in the stars with K-pop’s n.SSign

I first noticed fifth-generation K-pop group n.SSign on Music Bank when they performed “Love, Love, Love, Love, Love” in April 2024. It’s bright and irresistible. How can anyone make 5 types of finger/hand hearts in 3 seconds? Later, they won the weekly award on Music Bank for “Love Potion.” This song uses an orchestral hit and a rhythm reminiscent of New Jack Swing. I was happy to see a win by a nearly rookie group from a small company. They looked genuinely shocked. They cried. Recently, I spe

June 24, 2025