The Korea Herald

[Dominique Moisi] Emerging markets’ EU problem

ViewpointsJun 28, 2012

PARIS ― From Hong Kong to Sao Paulo, and all points between, one word dominates all others among big investors: Greece. Will the Greeks remain in the eurozone? What will happen to the European Union and the global economy if they do not?Until recently, Europe was a sort of mirror that confirmed for the major emerging economies the spectacular nature of their own success. They could contrast their high growth rates with Europe’s high levels of debt. They could oppose their “positive energy” with
[Editorial] Missing discourse

EditorialJun 27, 2012

With fears mounting over the possibility of Korea’s being engulfed by the global economic downturn, political circles are turning a deaf ear to the warnings.In an apparent bid to win voters’ hearts in the lead-up to the presidential election in December, the rival parties have focused on measures to tighten restraints on big businesses, adhering to their populist pledges to expand welfare benefits. What is more disappointing and worrisome is the lack of substantive economic discourse by presiden
[Editorial] Mental disorder

EditorialJun 27, 2012

The average Korean will be subject to at least 19 state-administered checks on their mental health throughout his lifetime, under measures recently announced by the Ministry of Health and Welfare.From next year, a Korean will be asked to complete a mental health questionnaire twice before entering elementary school, twice in primary school, once each in middle and high school, three times in their 20s and twice every 10 years thereafter.It is rare in the world for a country to get its entire pop
[David Ignatius] A cautious backgrounder on leaks

ViewpointsJun 27, 2012

WASHINGTON ― It’s hard for a journalist to be objective on the subject of leaks, a bit like asking a lawyer if he thinks litigation is a good method for resolving disputes. People in the news business always have a bias toward more information, even on sensitive subjects involving intelligence policy. So the reader should discount for my inherent bias in favor of informing the public, and of the process that leads to disclosure ― namely, leaks. We are in a new debate about leaks, flowing mainly
Is your couch cushion trying to kill you?

ViewpointsJun 27, 2012

Imagine if government officials knew that certain chemicals were hazardous enough to cause health problems as serious as cancer and neurological defects, yet were largely powerless to restrict them.That, in a nutshell, is the state of chemical regulation in the U.S. On paper, the Environmental Protection Agency has the authority to regulate or ban toxic substances. In practice, the agency faces so many hurdles that it hasn’t tried to do so since it made an ill-fated run at asbestos in 1991.More
Court order serves democracy in Pakistan

ViewpointsJun 27, 2012

ISLAMABAD ― On June 19, in what it called a “short order,” Pakistan’s Supreme Court removed Syed Yousaf Raza Gilani as the country’s prime minister, a post that he had held for more than four years ― longer than any of his 16 predecessors. For those who favor democracy in Pakistan, the court’s decision is cause, not for concern, but for celebration.Gilani had been convicted weeks earlier of contempt of court, after he refused to comply with a court order directing him to write to Swiss authoriti
Somali piracy: A threat and an opportunity for major rival powers

ViewpointsJun 27, 2012

The coasts of Somalia and the Gulf of Aden have been home for some of the worst acts of piracy for years, costing lives and billions of dollars in damage every year and threatening Indian Ocean trade and shipment in one of the most vital trade routes in the world. But this part of the world is also emerging as an area of cooperation between (sometimes rival) countries and an opportunity to project power for others. Whether it is the U.S. Navy rescuing Iranian fishermen, or Iranian naval forces r
[Kim Myong-sik] Old pastor’s belated repentance over son’s succession

ViewpointsJun 27, 2012

― Archbishop Yeom Soo-jung was inaugurated as the head of the Catholic Seoul Archdiocese, succeeding Cardinal Chung Jin-suk in a mass at Myeongdong Cathedral. ― Pastor Emeritus Kim Chang-in of the Chunghyun Church in Seoul made a public repentance for his role in appointing his son Kim Sung-gwan as head pastor of the church, the largest congregation in the “Hapdong” sect of the Korean Presbyterian denomination, in 1997. ― The General Assembly of the Buddhist Jogye Order revised several regulatio
[Lee Jae-min] Entitlement to a perfect vacation?

ViewpointsJun 26, 2012

Koreans work long hours. In the eyes of foreigners, Korea is a country of hard-working people, and an epitome of work ethic. A recent OECD survey says that Koreans work 2,193 hours a year, while the OECD average is only 1,749 hours. As “dynamic” as the country is in many different ways, there is simply too much work to be done with a streamlined workforce. On top of that, the general unwritten rule of the office is that people stay in the office at least until the boss of the section calls it a
[Editorial] Economic challenges

EditorialJun 26, 2012

The government is to unveil its economic management plan for the second half tomorrow. Policymakers must have had difficulty drawing up the plan as they have to meet a raft of short- and long-term challenges facing the economy with a limited set of policy options. In the short term, their primary challenge is to keep the economy on a steady growth path despite worsening economic conditions at home and abroad.Recently, foreign and domestic economic research institutes lowered their growth estimat
[Editorial] Strike fever

EditorialJun 26, 2012

The Korea Cargo Transport Workers Union went on a nationwide strike Monday, threatening to disrupt the nation’s export and import cargo transportation system. According to reports, the strike disrupted operations at the ports in Busan and Ulsan on the southeastern coast and at the inland container depot in Yangsan, South Gyeongsang Province.But disruptions were reportedly only minor at other ports and ICDs. The initial damage is limited because many of the union’s 4,000 members as well as most n
George Zimmerman case and the pre-trial system

ViewpointsJun 26, 2012

Proceedings in Florida’s case against George Zimmerman for the tragic shooting death of Trayvon Martin have recently provided an object lesson in how the institution of bail is supposed to work ― but almost never does.Recently Zimmerman’s wife was charged with perjury for allegedly lying at her husband’s bail hearing in April; she testified that the couple was broke, which prompted the court to set a low bond. But since then, prosecutors have alleged that, at the time of the hearing, the Zimmerm
Redefining sustainable development for megacities

ViewpointsJun 26, 2012

One of the most striking changes at Rio+20, compared to the original 1992 Earth Summit, is the extensive discussion of population issues. In part, this is driven by the fact that many developing countries, including the BRICs, are seeking to redefine what sustainability means with their generally rapid annual growth rates, and high population growth which is estimated to see world population rise from around 7 billion today, to between 8 billion and 11 billion by 2050.This reminds us of the mass
State, market and money

ViewpointsJun 26, 2012

Joseph Yam’s paper on “The Future of the Monetary System in Hong Kong” caused quite a stir this month. Irrespective of what happens to the Hong Kong dollar peg, the fundamental thrust of Joseph’s argument is irrefutable ― that no fixed exchange rate system is consistent with sustainable budgetary deficits. This is the major lesson learned from the current European crisis and was bitterly learned in the last Asian financial crisis. Hence, I interprete Joseph’s remarkable essay as a reminder that
[Kim Seong-kon] When humans are worse than the machines they make

ViewpointsJun 26, 2012

As machines increasingly become an indispensable part of human lives, we often wonder: “What is the relationship between men and machines? Are they mutually exclusive or reciprocally supplementary?” We also wonder, “What would the differences between humans and robots be if the latter was made of human blood and flesh?” In fact, machines are things we cannot live without, and yet can be harmful and dangerous if misused. Thus we can neither simply dismiss machines, nor be too fascinated by their