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Opinion

Editorial

Wed, April 21, 2021 | 03:57

Need for regulation

The Moon Jae-in government has decided to crack down on any illegalities related to transactions of bitcoin and other cryptocurrencies. The crackdown will continue until June, focusing on moneylaundering, fraud and other suspicious activities, and comes amid the overheated digital currency market.

Park Yoon-bae2021-04-20 16:40

Manufacturing job losses

About 72,000 manufacturing jobs in Korea migrated abroad last year, according to a report by the Korea Economic Research Institute. KERI made the analysis by calculating direct and indirect job-creation effects based on outward direct (ODI) and foreign direct investment (FDI) statistics. Between 2011 and 2020, Korean companies' ODI reached an annual average of 12.4 trillion w...

2021-04-20 16:30

Daunting task ahead

U.S. President Joe Biden and Japanese Prime Minister Yoshihide Suga agreed to cooperate closely in countering China and North Korea, during their summit in Washington, D.C., Friday. “We committed to working together to take on the challenges from China and issues like the East China Sea, as well as North Korea, to ensure the future of a free and open Indo-Pacific,” Biden told...

Shim Jae-yun2021-04-19 17:00

Equitable access to vaccines

A group of 175 former world leaders and Nobel laureates has called on U.S. President Joe Biden to make COVID-19 vaccines more readily available by waiving American companies' intellectual property rights. In an open letter to Biden last week, the signatories said they were “gravely concerned” by the slow progress in coronavirus vaccines being made available to people in low a...

Park Yoon-bae2021-04-19 16:30

Change for survival

President Moon Jae-in conducted a Cabinet reshuffle Friday in a desperate bid to regain public support following his party's crushing defeat in the April 7 mayoral by-elections. The shakeup is also aimed at helping him avoid becoming a lame-duck president with about one year left before the end of his term.

Park Yoon-bae2021-04-18 16:40

Saving SsangYong Motor

SsangYong Motor has been placed under court receivership once again. Last Thursday, the Seoul Bankruptcy Court approved corporate rehabilitation procedures for the automaker, ordering the company to submit a restructuring plan by July 1. The troubled SsangYong stands at a crossroads, with its fate resting in the hands of the court about a decade years after it emerged from a ...

2021-04-18 16:30

Warning against debt explosion

The International Monetary Fund (IMF) has issued a warning for Korea to take preemptive measures against a possible “explosion” of its national debt due to the ongoing low birthrate coupled with rapid aging of the population. Andreas Bauer, assistant director and Korea mission chief for the IMF, said, “Korea's strong fundamentals, including a robust manufacturing sector and a...

Shim Jae-yun2021-04-16 17:28

Looming vaccination delay

South Korea is likely to suffer setbacks in its vaccination drive against COVID-19 with concerns growing that the country may not secure a sufficient supply due to reported side effects in vaccines produced by AstraZeneca and Johnson & Johnson. More worrisome is that Korea appears to be facing a new wave of infections this spring.

Park Yoon-bae2021-04-15 17:13

Illusionary jobs report

Korea reported the first job gains in 13 months in March, putting an end to a downturn that has continued since the COVID-19 pandemic outbreak. The number of employed people totaled 26.92 million last month, up 314,000 from a year earlier, according to Statistics Korea's jobs report released Wednesday. “The employment situation may probably have entered a recovery phase,” the...

2021-04-15 17:12

Global chip battle

U.S. President Joe Biden has stressed the importance of the semiconductor industry and pledged to make huge investments in the area. During a virtual meeting hosted by the White House, Monday, Biden said, “We're investing aggressively in areas like semiconductors and batteries; that is what they're doing and others, so must we.”

Shim Jae-yun2021-04-14 17:11

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