The Korea Herald

Wall Street’s justice is a kangaroo court

ViewpointsJan 17, 2012

There has been a fair amount written recently about various institutional cartels that are thriving in the U.S. despite antitrust laws designed to prevent their existence. My previous column compared Wall Street’s few remaining investment banks to a cartel, with explicit pricing power over its hundreds of thousands of customers, an advantage that will only grow greater as the economy improves and the number of thriving banks continues to diminish. Likewise, Joe Nocera, a columnist for the New Yo
Margaret Thatcher and the plague of fake female empowerment

ViewpointsJan 17, 2012

Two items have recently burst onto the media scene: a movie called “The Iron Lady” about one of the greatest women in history ― former British Prime Minister Margaret Thatcher ― and a growing European recall of breast implants in danger of exploding. I wonder what the former would say about the latter. Did it ever cross Thatcher’s mind that women’s lives could be meaningfully enhanced by surgically strapping gel packs to their chests? How did women get from Thatcher to this?Any such unfortunate
[Kim Seong-kon] Physical appearances and speaking foreign languages

ViewpointsJan 17, 2012

Does one’s physical appearance have something to do with the language(s) he is expected to speak? Perhaps it does. A few weeks ago, I gave a talk on Korean culture at the State University of New York at Buffalo. I talked mainly about the positive elements of South Korean culture, such as the enormous popularity of hallyu, the remarkable success of Samsung, LG and Hyundai in the American market, and the bright prospect of globalizing Korea. Borrowing from CNN.go.com, I even introduced, “50 Reason
Readers' Voice

Jan 16, 2012

On welfare...Welfare will probably be a key issue in this year’s elections in Korea, and it should: particularly in these extremely challenging times, it’s not only a matter of social security, but a matter of national security, about the social and financial sustainability of a nation.If Korea is not the only country facing similar challenges in this electoral year, it must also cope with rather depressing demographic trends, and an utterly polarized political landscape. Last year, even the tra
[VOICE] Should Korea adopt a welfare state?

Jan 16, 2012

With increased social spending an increasingly popular policy ...Should Korea adopt a welfare state?Social welfare was a defining issue in Korean politics last year. President Lee Myung-bak, having come to power in 2008 with a message of small government, less regulation and lower taxes, was confronted with a slew of opposition proposals for expanding welfare. Then came calls for increased welfare from the unlikely source: Grand National Party, driven by the loss of a Seoul referendum against fr
[Editorial] Analogy with Taiwan

EditorialJan 16, 2012

The Republic of Korea and the Republic of China on Taiwan have taken similar courses of political and economic development since the division of their countries after World War II. Civil wars in early years of the Cold War hardened the division. After democracy movements ended authoritarian rule in both nations, conservative and progressive governments took power by turns.These historical similarities prompt analysts to make comparisons between what takes place in the domestic politics of the tw
[Editorial] New opposition leadership

EditorialJan 16, 2012

For the first time, Korean partisan politics came under female leadership in both ruling and opposition camps. Han Myeong-sook, who was prime minister under President Roh Moo-hyun, took the helm of the newly reassembled main opposition Democratic United Party to lead it through the National Assembly elections in April and possibly until the presidential vote in December. She will take on the Grand National Party’s Park Geun-hye, who now heads an emergency committee to overhaul the ruling party a
You can’t fake youth ― don’t even try

ViewpointsJan 16, 2012

If you’re around my age, which can be defined as “too old for work-study but too young for cremation,” you might already know what I’ve only recently learned: you can pretend to be older but you cannot pretend to be younger.And yet entire industries, magazine empires, advertising conglomerates and the global conspiracy of Spanx manufacturers are trying to convince women otherwise.At one point, I loved looking older than my years. Didn’t we all once love not getting carded at bars when our friend
[Mohammed Ayoob] Turkey walks fine diplomatic line

ViewpointsJan 16, 2012

EAST LANSING, MICHIGAN ― Turkey has over the past few weeks become the spearhead of a joint Western-Arab-Turkish policy aimed at forcing President Bashar al-Assad to cede power in Syria. This is quite a turnaround in Turkish policy, because over the past two years the government of Prime Minister Recep Tayyip Erdogan had gone out of its way to cultivate good relations with neighboring Syria, with whom it shares a long land border. This change of course on Syria has also cost Turkey a great deal
‘Mayonnaise’ Romney needs to spice up his pitch

ViewpointsJan 16, 2012

Mitt Romney, who gets an 85.5 percent probability to win the Republican presidential nomination by the online betting service Intrade.com, is a formidable candidate ― on paper. He is handsome, articulate, has impeccable integrity and a charming, down-to-earth wife. He’s ideologically close to the American center and can boast of success in diverse endeavors. It’s in person where his problems begin. He’s decent and likeable enough, both critics and some supporters agree. They also agree he doesn’
Simplifying immigration

ViewpointsJan 16, 2012

The U.S. immigration system is a capricious and convoluted bureaucracy. Take, for example, the rules that children and spouses of U.S. citizens must navigate to legalize their status.Currently, immigrants who qualify for a visa, and ultimately a green card, must return to their homelands to receive it. The problem is that the moment they leave the United States, they trigger automatic sanctions that bar them from returning for up to 10 years. Some can secure waivers to re-enter, but only if they
Talks not likely to effect an honorable U.S. exit

Jan 16, 2012

Now that U.S. troops have left Iraq, the administration is seeking to negotiate an end to the Afghan war.So there was some excitement when an Afghan Taliban spokesman recently announced that the group would open a political office in the Arab Gulf state of Qatar, dropping its long-held objections to peace talks. This move comes after months of secret efforts by the Obama administration.Yet, anyone who believes that talks with the Taliban will lead to an honorable exit is deluding himself.I sympa
[Joseph E. Stiglitz] The perils facing global economy

ViewpointsJan 16, 2012

KOLKATA ― The year 2011 will be remembered as the time when many ever-optimistic Americans began to give up hope. President John F. Kennedy once said that a rising tide lifts all boats. But now, in the receding tide, Americans are beginning to see not only that those with taller masts had been lifted far higher, but also that many of the smaller boats had been dashed to pieces in their wake.In that brief moment when the rising tide was indeed rising, millions of people believed that they might h
Toward the Seoul Nuclear Security Summit

OpinionJan 15, 2012

The Nuclear Security Summit that will open in Seoul on March 26 will bring together heads of states united in their commitment to strengthen the international nuclear security regime and confront the threat of nuclear terrorism. Building on the success of the first summit, held in the U.S. in 2010, the Seoul meeting is well-positioned to ensure that nuclear security remains at the top of the international security agenda. At the same time, the summit participants will have to deal with signific
[Editorial] Identity crisis

EditorialJan 15, 2012

The ruling Grand National Party is in the process of redefining its ideological guidelines, which will be contained in a new official platform. A similar procedure will soon start at the main opposition Democratic United Party, which has now completed the process of establishing a new leadership to manage the April general elections. What is emerging at this early stage of electoral preparations provides a glimpse into, if not a whole picture of, the nation’s future political landscape: There is