The main opposition party is set to change its name from the Democratic United Party back to its previous one, the Democratic Party, at its upcoming national convention on Saturday, which speaks volumes about the precarious state in which it is placed.To reflect its of forging alliances with the Federation of Korean Trade Unions and progressive activist groups led by diehard supporters of former President Roh Moo-hyun, the main opposition changed its name in late 2011. The shift to the left was

The settlement of a dispute over the withdrawal of South Korean companies from the North Korean border town of Gaeseong may become messy, given that the North Koreans are notoriously tenacious in making unreasonable demands in negotiations, as witnessed time and again in the past.As the South Korean unification minister says, however, yielding to undue demands is out of the question this time. Still, North Korea can have its way if it decides to confiscate all assets that the departing companies

Korea has emerged as the world’s eighth-largest trader, mainly on the back of improvement in its manufacturers’ competitiveness. In parallel with its rise in global commerce, the country has also increased investment in research and development. Korea’s R&D spending rose by an annual average rate of 11.4 percent over the five years from 2007. The ratio of R&D investment to gross domestic product has grown to 4.3 percent, the second highest in the world.But a report released by a local research i

China recently canceled a top-level annual finance meeting with Japan and South Korea, which was to be held on the sidelines of an Asian Development Bank conference that opens in Delhi on Thursday for a four-day run. Finance ministers and central bank governors from the three countries have in past years held discussions before separate talks with their counterparts from the 10-member Association of Southeast Asian Nations.Japanese officials said last Friday they have been informed by China, the

The Korean economy grew 0.9 percent in the first quarter of 2013 from the final quarter of last year. Was the high quarterly growth rate an aberration, as claimed by President Park Geun-hye’s administration, or an unmistakable sign of recovery, as argued by the Bank of Korea? Neither the administration nor the central bank will be able to present a convincing answer at least until after more data comes in for the performance of the second quarter. Growth had been anemic until the first quarter o

Won Sei-hoon, a former director of the National Intelligence Service, humiliated not just himself but the intelligence agency on Monday when he subjected himself to a prosecutors’ inquiry into an allegation that he interfered in domestic politics and attempted to influence the Dec. 19 presidential election. The prosecution said he could be summoned for additional questioning once or twice more before its investigation was completed.The case also involved two NIS agents, who were accused of posti

The National Assembly passed a resolution denouncing Japan’s recent moves turning a blind eye to its pre-1945 wartime atrocities in its plenary session Monday. But its members should be ashamed of the belated passage, which showed again their negligent attitude.The parliamentary foreign affairs committee adopted the resolution Friday and submitted it to the plenary session, which was to approve it later in the day. But the resolution failed to be put to a vote as only about 70 lawmakers attended

Korea urgently needs to encourage more women, especially highly educated ones, to join the workforce to shore up its competitiveness and growth potential. Calls have mounted for stronger measures to keep female employees from quitting their job when they marry, get pregnant or give birth. There have also been growing voices for the need to induce more housewives who left the workforce to return to the workplace. According to figures from Statistics Korea, more than one-third of married women in

Blinded by their pursuit of short-term gains, businesses are putting up an organized opposition to moves to improve working conditions and promote fairer trade. The administration and political parties will have to guard against undue pressure from the business community, which is trying to discourage the revision of relevant laws.On Friday, the five major business organizations banded together in accusing President Park Geun-hye’s administration and the political community of attempting “to str

The industrial complex for South Korean corporations in the North Korean border town of Gaeseong is at risk of permanent closure now that all South Koreans are being withdrawn from the complex as a consequence of escalating inter-Korea tensions. North Korea would have more to lose than the South.Held accountable is North Korea, which has been blocking entry to South Korean factory managers and cargo since April 3. It has been ignoring a repeated South Korean plea that the remaining personnel, wh

Japan under the leadership of Prime Minister Shinzo Abe appears to have abandoned its desire to cultivate friendship with its neighbors, notably Korea and China. To the chagrin of the victims of Japan’s imperialist expansion, Abe came near to denying Japan’s invasion of neighboring Asian countries when he said on Tuesday that there was “no clear definition of an invasion internationally and academically.”Abe went on to say that what happened in international relations might look different, depen

On Tuesday, the Supreme Prosecutors’ Office disbanded its Central Investigation Department, the most powerful department with a staff of elitist prosecutors. Its abolishment went down in the history of the nation’s prosecution as an event nothing short of epochal.Its predecessor, the Central Investigation Bureau, which was inaugurated 52 years ago, changed its name to the Central Investigation Department in 1981. Then the department was given a strengthened mission to investigate corruption case

Former President Lee Myung-bak on Tuesday embarked on his first overseas trip since retiring in February for an encounter with an old friend ready to welcome Lee, who has been increasingly beleaguered at home. Accompanied by his wife, Lee attended a ceremony dedicating the George W. Bush Presidential Center on Thursday on the campus of Southern Methodist University in Dallas. The reunion with the former U.S. leader must have been a warming and nostalgic moment for Lee. Though their terms of offi

By winning a parliamentary by-election in a Seoul constituency Wednesday, former independent presidential runner Ahn Cheol-soo joined the political establishment he has criticized for turning a deaf ear to the public. Shortly after his election, Ahn said his win reflected voters’ aspiration for new politics.His successful political comeback, which came just months after his withdrawal from last December’s presidential race, appeared to have been propelled by the public disappointment with Presid

A bill proposing to extend Korean workers’ retirement age to 60 is likely to pass the National Assembly this month. The bill has already won approval from lawmakers on the parliament’s Environment and Labor Committee and will likely pass a floor vote during the April 29-30 plenary session.If enacted, the reform bill will make it compulsory for employers to set the minimum retirement age of their workers at 60. Currently, the relevant law simply recommends that companies set their contractual ret