The Fair Trade Commission has launched an investigation to see whether domestic oil refiners are engaged in price-fixing or other unfair trade practices. The commission’s move follows President Lee Myung-bak’s instruction on Thursday to check whether domestic gasoline prices are reasonable.Lee made the instruction during a briefing on anti-inflation measures by a pan-government task force. He was

The next 12 months will be a critical period for the ruling Chinese Communist Party (CCP) as the top leadership prepares to step down and hand over the reins next year.It will be no less critical for Vice-President Xi Jinping, named last year to head a new generation of CCP leaders who will take center stage at the 18th national party congress.No political succession takes place without intense po

It’s a bad sign for civility when you can’t have a civil conversation about it. In the days since a deranged assassin gunned down Congresswoman Gabrielle Giffords and 19 other innocents ― six of whom are now dead ― President Barack Obama, Speaker John Boehner and pundits from across the political spectrum have issued calls to raise the discourse and practice mutual respect. Even Fox News President

Korea was designated an “aging society” in 2000, the year in which those aged 65 or older accounted for more than 7 percent of its total population for the first time. The demographic group, which grew to 10.7 percent in 2009, is projected to break though the 14 percent mark in 2018, pushing Korea into an “aged society.”The transition from an aging society to an aged society, which is accelerating

Nothing is more appropriate than the “better late than never” idiom in evaluating the central bank’s latest rate increase.As the global financial crisis was setting in three years ago, the Bank of Korea slashed its benchmark rate on several occasions ― from 5.25 percent in August in 2008 to a historic low of 2 percent in February 2009. But it took post-crisis action at a snail’s pace, despite warn

Wednesday was a solemn and sorrowful day for everyone in Haiti and for all those who lost friends and loved ones on Jan. 12, 2010. The unsparing earthquake that struck one year ago killed 300,000 people, an unfathomable toll in a country so small.The 7.0-magnitude shock represents one of the greatest catastrophes of modern times. One year later, a debate rages over Haiti’s future, but today it is

Defense Secretary Robert Gates’ plan to reduce the Pentagon budget over the next five years is appropriate, overdue and even brave. The politics and emotions will be intense.For a federal budget awash in red ink, no government role is above review, and cutting. The Pentagon has avoided scrutiny for a decade, with soaring growth in the budget taxpayers nominally know about, and two expensive wars e

Nine percent of Americans think Japan is the world’s top economic power, and that raises an obvious question: Huh?If we knew exactly who that current-events-challenged minority was, we could make a bundle sending them e-mails on how to redeem unclaimed fortunes in Nigerian banks. Thankfully, most Americans got it right in a Jan. 5-9 survey by the Pew Research Center for the People and the Press. I

Today (Jan. 10) marks Coming-of-Age Day, when 1.24 million people born in 1990 start a new chapter in their life. We hope they will take a firm first step into adulthood while retaining their self-awareness and recognizing their responsibility as adults.Nevertheless, many of them will be apprehensive about what their future holds amid the job market’s “ultra-ice age” caused by the protracted anemi

 During his preview of Indonesia’s 2011 foreign policy, Foreign Minister Marty Natalegawa rightly highlighted the demanding schedule of the next 12 months. As chair of ASEAN for 2011, Indonesia will host more than 300 meetings at various levels. The meetings will cover various areas of cooperation of the 10-member grouping, including trade, investment and defense. Mingled among the multiple ASEAN

You might have noticed a new brand of car called “Luxgen” on Taiwan’s roads. Luxgen was founded by Taiwan’s biggest carmaker, Yulon, as a separate, indigenous Taiwanese auto company in 2009. Luxgen (the name is a combination of the words, “Luxury” and “Genius”) is doing very well. The company’s website claims that Luxgen is now number six in the Taiwanese market. Yulon is, of course, just one of s