The ruling People Power Party on Friday called for further intergenerational equity in the government’s plan to reform the country’s ailing pension system. “In order to make the country’s retirement security system sustainable enough to be effective for the next 100 years beyond the current generation of youth to a future generation, we cannot overlook the issue of fiscal sustainability. This means that our foremost task for (the government’s) pension reform is to b

Politics Aug. 23, 2024

National Assembly Speaker Rep. Woo Won-shik reiterated Wednesday the need for a bill to revise the Constitution, with the aim of changing the term limit for the president, stressing that an advisory body will be launched soon. Woo’s remarks, made at a press conference at the Assembly in western Seoul, are in line with the opposition’s goal to hold a national referendum in 2026. The ruling party has denounced the referendum as a move to shorten President Yoon Suk Yeol’s single,

Politics Aug. 21, 2024

The government and ruling party on Tuesday said they plan to allocate over 5.5 trillion won ($4.14 billion) for measures to improve people’s livelihoods here, including bigger discount coupons for small businesses and subsidies for electric vehicle users. The announcement comes as the Democratic Party of Korea has upped the ante in its pledges and policies to improve people’s livelihoods, with the main opposition’s Rep. Lee Jae-myung reelected as the party's leader in a landsli

Politics Aug. 20, 2024

The newly elected leaders of the rival parties will hold their first bilateral meeting next week, drawing national attention to the turbulent political climate as both are viewed as potential candidates for the 2027 presidential election. The announcement was made a day after Democratic Party of Korea Rep. Lee Jae-myung clinched his second term with a record-high 85.4 percent of the votes from registered party members Sunday. He will meet the recently elected ruling People Power Party Chair and

Politics Aug. 19, 2024

Democratic Party of Korea Rep. Lee Jae-myung was reelected to lead the country's main opposition party on Sunday, cementing his power within the National Assembly. Lee, who had served his first term as Democratic Party chair from August 2022 to June this year, won 85.4 percent of the votes from registered party members, confirming his second term as party leader, in a convention at the KSPO Dome in southeastern Seoul in the afternoon. His second term is due to end August 2026. Lee was widely exp

Politics Aug. 18, 2024

President Yoon Suk Yeol on Thursday unveiled a new vision for unification, stressing that "complete liberation remains an unfinished task" as long as the Korean Peninsula remains divided, during his speech commemorating Korea's liberation from Japanese colonial rule from 1910 to 1945. However, his vision for a unified Korea, presented at the 79th Liberation Day ceremony, was overshadowed by internal discord within South Korea. Independence activist groups and opposition parties

Politics Aug. 15, 2024

The controversy over Korea's national day has resurfaced in the past week, after the Yoon Suk Yeol administration appointed a conservative professor accused of supporting a political movement that wants the country’s founding to be recognized as happening in 1948, instead of liberation in 1945. Kim Hyoung-suk, who took office as the new director of the Independence Hall of Korea earlier this month, has been accused by the liberal bloc and some descendants of Korean independence fighte

Social Affairs Aug. 14, 2024

President Yoon Suk Yeol on Tuesday officially restored the rights to hold public office for former South Gyeongsang Gov. Kim Kyoung-soo, who had served in jail until late 2022 for illegally conspiring to manipulate online opinions in favor of former President Moon Jae-in ahead of the 2017 presidential election. The reinstatement of Kim's political rights came as part of Yoon's decision to grant special pardons for a total of 1,219 convicts on the occasion of Liberation Day which fall

Politics Aug. 13, 2024

President Yoon Suk Yeol on Monday vetoed a set of broadcasting bills sponsored by the main opposition that seeks to reduce his administration’s clout over public broadcasters, a week after the opposition-controlled parliament passed the contentious revisions. Upon returning from a weeklong summer vacation that wrapped up Friday, Yoon approved a Cabinet motion that requested the president to strike down four bills designed to tweak the governance structure of the Korean Broadcasting System,

Politics Aug. 12, 2024

Kim Hyoung-suk, the new chief of the Independence Hall of Korea, has refused to step down on Monday, despite accusations from critics that he is unfit for the position due to his alleged controversial view of Japan’s 1910-1945 colonial rule of Korea. Kim, a former conservative professor, who took office as the chief of the national museum dedicated to the country’s independence movement, denied the claims that he is a supporter of the New Right political movement that justifies Japan

Politics Aug. 12, 2024

The Yoon Suk Yeol administration’s recent appointment of a conservative professor who is accused of supporting the New Right political movement that justifies Japan’s 1910-45 colonial rule over the Korean Peninsula as the source of Korea's modernization, as chief of the national museum dedicated to the country’s independence movement, has been met with a torrent of criticism from independence fighters' descendants. The Heritage of Korean Independence, a Seoul-based or

Social Affairs Aug. 9, 2024

Kim Beom-su, the founder of Kakao Corp. has been indicted with detention Thursday on charges of stock price manipulation tied to the South Korean tech giant’s takeover of SM Entertainment last year. The Seoul Southern District Prosecutor's Office charged Kim with violating the Capital Markets Act, accusing him of inflating SM Entertainment’s share price in a bid to acquire a controlling stake in the K-pop agency during a competitive bidding war against Hybe. Hybe is the parent c

Social Affairs Aug. 8, 2024

A recent move by one of former President Kim Dae-jung’s sons to sell his father’s residence in a bid to avoid a “hefty inheritance tax,” has sparked a conflict among the liberal bloc here in recent days, with some calling for the main opposition or the government to repurchase the property for its historic value. On Wednesday, several lawmakers of the main opposition liberal Democratic Party of Korea, which has repeatedly mentioned Kim’s “spirit of Democracy&r

Politics Aug. 7, 2024

Some customers who have yet to receive refunds from e-commerce platforms Tmon and WeMakePrice due to a liquidity crisis surrounding the companies will get their money back by the end of this week, officials said Tuesday. Finance Minister and Deputy Prime Minister Choi Sang-mok announced that the refund process for the customers who purchased products other than travel services or gift cards on the two imperiled e-commerce platforms would be completed by “the end of this week,” in a b

Politics Aug. 6, 2024

The opposition-led National Assembly on Monday passed a pro-labor bill that seeks to limit employers from filing damage claims against workers during legitimate disputes and requires them to engage in collective bargaining with subcontractor labor unions, amid ongoing protest from the ruling party over the bill. The bill, dubbed the “Yellow Envelope Bill," which is a revision to the Trade Union and Labor Relations Adjustment Act, passed in a 177-2 vote during an afternoon plenary sess

Politics Aug. 5, 2024