After several hectic days that followed her inauguration on Monday, President Park Geun-hye is now settling down to a new life in the Blue House, administering state affairs as head of state. She certainly has a pile of problems she has to address each day. She will also have to manage small and large crises occasionally.Yet, she is far from institutionally well prepared to do her job properly, as evidenced by the canceling of a weekly Cabinet meeting and the absence of her key advisers at the f

The administration says it is planning to save 100 trillion won ($92.4 billion) by cutting non-welfare expenditures during the next five years to help finance President Park Geun-hye’s new welfare programs. But it will be easier said than done, if past experience is any guide.During her election campaign, Park promised to save 73 trillion won as part of the 135 trillion won she would need to finance her welfare projects. Now the Ministry of Strategy and Finance has upped the amount by 27 trillio

The government and the left-leaning Korean Teachers and Educational Workers’ Union are on a collision course over the union’s charter that accepts dismissed teachers as members. The Ministry of Employment and Labor recently told the union that it would be outlawed unless it amended the charter, which runs afoul of labor law.The Trade Union and Labor Relations Adjustment Act states that an organization will not be regarded as a trade union if it allows those who are not workers to join it.The tea

One keyword in President Park Geun-hye’s inaugural address on Monday was “cultural renaissance.” She presented “a flourishing culture” as one of the three goals she would pursue during her five-year term. The other two were economic rejuvenation and increasing people’s happiness.Park devoted a considerable part of her speech to culture, a topic that her predecessors had almost ignored in their inaugural addresses. Together with “economy” and “happiness,” “culture” was one of the most frequently

Despite continuous increases in their income, Korean consumers have become more cautious in opening their purses. According to figures released by the national statistics office last week, the average monthly household income grew 6.1 percent from a year earlier to 4.07 million won ($3,740) last year. Their disposable income, which excludes payments on taxes, pensions and insurance, recorded a higher year-on-year increase rate of 6.4 percent, amounting to 3.31 million won on average per month. B

President Park Geun-hye’s administration has gotten off to a difficult start with all but one of her 18 Cabinet nominees having yet to take office. The National Assembly approved the prime minister’s nomination Tuesday, a day after she was sworn in as the nation’s first female leader. But 17 other ministerial nominees are set to undergo parliamentary confirmation hearings starting Wednesday. The process, which may prove extremely tough for some nominees criticized for ethical lapses, could take

One issue that promises to come to the fore during the parliamentary hearings of ministerial nominees that start on Wednesday is “jeon-gwan-ye-u,” a time-old practice in the legal community whereby retired judges and public prosecutors who start a legal practice receive special treatment from their incumbent former colleagues.In recent years, the unwholesome practice has spread to officialdom. These days, retired high-ranking government officials expect and receive preferential treatment from th

Five years ago, President Lee Myung-bak unveiled his “747 plan,” declaring that he would achieve 7 percent annual economic growth during his term to boost the nation’s per capita GDP to $40,000 and make Korea the world’s seventh largest economy.What Lee has actually achieved over the past five years falls far short of these goals. The economy has grown a mere 2.9 percent on average; the nation’s per capita GDP barely reached $22,700 in 2012; and Korea’s economy was the world’s 15th largest last

Upon being sworn in as the 18th president of the Republic of Korea this morning, Park Geun-hye will embark on the pursuit of happiness for the Korean people. She plans to enhance their happiness by spending more on welfare. She believes it is worthwhile to pursue happiness for the Korean people as a whole as elusive and costly as the goal may be.Few would dispute the pursuit of happiness is a misplaced objective for Park’s five-year presidency. Korea has been surging forward for economic advance

Heads of government-funded or government-invested agencies, all of them appointed by the Lee Myung-bak administration, are offering to resign long before their terms in office are set to expire. They are doing so apparently in the belief that it is more honorable to quit now than to wait until they are told to leave.Lee Chae-wook, chief executive officer of Incheon International Airport Corp., tendered his resignation last month. He was followed by Jun Kwang-soo, who offered to resign as chairma

It is a universal human rights principle that all people are subject to the same laws of justice, as Article 7 of the Universal Declaration of Human Rights reads: “All are equal before the law and are entitled without any discrimination to equal protection of the law.”This principle is enshrined in the Korean Constitution as well. Article 11 reads in part: “All citizens are equal before the law, and there may be no discrimination in political, economic, social, or cultural life on account of sex

Wrapping up its 48 days of operation, President-elect Park Geun-hye’s transition team said Thursday that the incoming administration would focus on job creation. Few would say the transition team was misguided when it put the provision of jobs on top of the list of five goals in Park’s administration of state affairs.But the transition team was ill-advised when it implied that the Park administration would put employment before growth as if the two had no close relationship. Instead, they go tog

In her victory speech one day after the Dec. 19 vote, President-elect Park Geun-hye pledged to achieve national reconciliation by gathering opinions from across the political spectrum and appointing people from across the nation.She declared that she would put an end to past discriminatory practices in personnel management by selecting people based on talent. But she also said she would pursue regional, generational and gender balance. Coming from a politician who has valued promises more than a

The government was one step behind when it hurriedly arranged a meeting on Thursday with officials of domestic food companies to rein in soaring food prices. Food companies have already raised the prices of a wide array of products, ranging from flour and soy sauce to kimchi, tofu and soju.For instance, Samyang Corp. raised the prices of its flour products by up to 9 percent on Wednesday. It was the last among major flour producers to raise prices. The increase in flour prices pushed cookie comp

Many Koreans that have fallen into poverty say they find it increasingly difficult to get out. They are worried that they may slip into the poverty trap, in which a self-reinforcing mechanism causes poverty to persist.Economists say the poverty trap starts to reinforce itself unless drastic measures are taken to break the vicious circle, which otherwise continues from generation to generation. But recovery from poverty is easier said than done, as is confirmed by a recent report from the Korea I