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[Editorial] Transient shock

South Korea’s financial market has faced widening uncertainty from Britain’s decision to leave the European Union. Its stocks and currency, which suffered a sharp drop in value on Friday, are likely to show extraordinary volatility over the next few trading sessions.There is a possibilit...

Updated : 2016.06.26 17:09

[Editorial] Extreme nepotism

Koreans are accustomed to encountering misdeeds committed by public officials — both elected and appointed. But the seemingly endless cases of alleged nepotism involving Rep. Seo Yeong-gyo certainly goes beyond a tolerable level. In short, Seo, a two-term lawmaker from The Minjoo Party of...

Updated : 2016.06.24 18:35

[Editorial] Steep bias

The latest developments surrounding a group of 13 North Korean defectors who recently resettled in South Korea gives us several things to think about. First, the case reminds us of the Cold War-era past in which the two Koreas were engaged in a fierce publicity war about which was the bett...

Updated : 2016.06.24 18:34

[Editorial] Evolving missile tests

North Korea test-fired what appeared to be two mid-range ballistic missiles Wednesday. The communist country managed to fly its intermediate-range ballistic missile for some hundred kilometers for the first time.While the first launch was deemed to be a failure, the second projectile’s fl...

Updated : 2016.06.23 17:07

[Editorial] Denomination change

A lawmaker from the main opposition Minjoo Party of Korea has raised the issue of abbreviating the unit of currency, and some of his colleagues are supporting his proposal for a redenomination.Rep. Choi Woon-yeol of the Minjoo Party said that it is the right time to start negotiating among...

Updated : 2016.06.23 17:02

[Editorial] Risky idea

The main opposition The Minjoo Party of Korea is pushing to divert funds from the state-run National Pension Service to build low-cost rental apartments for young people and child care centers to boost the nation’s low birth rate.The party launched Monday a large-scale special committee t...

Updated : 2016.06.22 17:26

[Editorial] Repeated folly

The government has scrapped its plan to build a new international airport in the southeastern region, choosing instead to expand the existing airport in Busan.The decision, which is exactly the same as the one made five years ago, was reached Monday based on a feasibility study carried out...

Updated : 2016.06.22 17:24

[Editorial] Suicidal strikes

The news that the unions of South Korea’s three major shipbuilders are moving to strike against restructuring plans is truly distressing. Workers at Hyundai Heavy Industries and Samsung Heavy Industries proclaimed last week a labor dispute with management -- the first legal step for colle...

Updated : 2016.06.21 17:20

[Editorial] Wrong conclusion

As expected, investigations into incumbent prosecutors over the Jung Woon-ho bribery scandal is going nowhere. This raises a fundamental question -- whether it is legitimate to leave the investigation in the hands of the state prosecution. Prosecutors indicted a key figure in the case – f...

Updated : 2016.06.21 17:18

[Editorial] Joint efforts

It is laudable for South Korea and China’s respective private sectors to take the initiative in coordinating on resolving the fine dust problem. A large part of the fine dust that swept over the Seoul metropolitan area and some major cities over the past two months came from ChinaOver the...

Updated : 2016.06.20 17:17

[Editorial] Depositors’ frustration

The Bank of Korea’s cut in the benchmark rate has lowered commercial banks’ interest rate offering on deposits to a record-low level.Commercial banks say they -- as well as depositors -- are also suffering low profitability as a result of the BOK’s all-time low base rate of 1.25 percent...

Updated : 2016.06.20 17:17

[Editorial] Extra budget

The government is leaning toward creating a supplementary budget in the second half of the year to boost the sluggish economy.Finance Minister Yoo Il-ho said Friday that the government would come up with aggressive fiscal measures to cope with growing downside pressures at home and abroad....

Updated : 2016.06.19 17:05

[Editorial] Unwarranted revolt

Factional strife at the ruling Saenuri Party has been rekindled following the interim leadership’s surprise decision Thursday to reinstate the seven lawmakers who defected from the party after being denied nominations at the April election and were then elected as independents.The decisio...

Updated : 2016.06.19 17:04

[Editorial] Border islands

The number of fishing boats and patrol boats from North Korea has recently surged around the Northern Limit Line. The situation has coincided with the South Korean Navy’s three-day maritime exercise in the West Sea this week. Tension is naturally increasing as the two Koreas fought sever...

Updated : 2016.06.17 17:16

[Editorial] Rate hike delay

The global economy has faced another extension of uncertainty as the U.S. Federal Reserve again chose to delay its base rate hike. Early this year, expectations of a hike during the first half were dominant in the market. The most likely timing for a hike was June, according to earlier be...

Updated : 2016.06.17 17:16