The number of high school graduates dropped 15 percent from 2000 to 2005, making it impossible for some universities and junior colleges to fill their freshman quotas. A fall in admissions meant a drop in tuition fees ― the main source of revenues for the ill-fated ones.The situation will worsen if no action is taken because the number is projected to fall 40 percent from 670,000 to 410,000 in a d

A borrower is up to no good if he is much indebted. This has been proven to be true in all ages and countries, no matter which the borrower may be ― a corporation, a state or an individual.Kim Choong-soo, governor of the Bank of Korea, made remarks to that effect when he was commenting on Tuesday’s news report that Greece took a super-low rating from the Standard & Poor’s. If so, why is he accused

A recent survey on the trends of corruption in the Korean public sector has found that 2010 was the worst year since 2000 in terms of businessmen’s perception of corruption among high-ranking government officials. According to the Korea Institute of Public Administration, 86.5 percent of the respondents said corruption was serious among senior public officials last year, the highest level since it

A parliamentary bid for judicial reform appears to have foundered in the face of stiff opposition from prosecutors, judges and the presidential office. The special parliamentary committee that has grappled with the tough task of reforming the judicial system since February last year has decided to stop work this month, leaving most of the main issues on its agenda unresolved.The committee reached

Debate on half-priced university tuition is mired in the paucity of information on the finances of the 345 institutions of higher education in the nation ― 199 universities and 146 junior colleges. Information is scant because the Ministry of Education, Science and Technology is withholding it, citing confidentiality.But a Korean daily, quoting the ministry’s 2009 report, says five universities an

Beginning in March next year, all primary and secondary schools will have no classes on Saturdays, putting an end to the current practice of teaching every other Saturday. The five-day workweek, which was introduced in 1998 to improve the quality of life, will have been implemented at all workplaces except for those employing four or fewer people.To make up for the potential loss of classes result

Former Agriculture-Forestry Minister Im Sang-gyu should have secured a place in the annals of Korean bureaucracy as a model public administrator, if only he had a little more courage to escape the temptation of corruption. He called it “the devil’s snare” in his suicide note found Monday. Suicide is not rare in this country. But in most corruption scandals, the accused bureaucrats or politicians e

If the political atmosphere between China and North Korea may at times be changeable, the two neighboring countries have been strengthening their economic cooperation steadily and substantially, particularly across the Tumen River. Some of the South Korean media saw political significance in the postponement of the official launches of the Hwanggeumpyeong and Hunchun-Raseon projects last month, bu

One of the ugliest political scenes took place last week at the narrow Cheonggyecheon square in Seoul which was packed with university students holding candle lights in a rally demanding “halved tuition.” Opposition Democratic Party chairman Sohn Hak-kyu climbed onto the makeshift stage and urged the rallying students in his high-pitched voice to mount their pressure on the Lee Myung-bak governmen

Two sold-out performances at Le Zenith de Paris concert hall last week marked a successful venture for K-pop groups in Europe, which we attribute first to the talents of the singers and then to their management’s “culture technology” of aggressive marketing. Of course, YouTube, Facebook and all other high technology tools helped introduce the stars to Europe before they landed in Paris. TVXQ, Girl

Labor-management relations will undergo a drastic change, with multiple trade unions set to be permitted in the same workplace next month. Moreover, a group of trade unions are set to launch a new nationwide umbrella group as their representative ― possibly later this month. Unions and corporate employers will have to brace for one of the greatest transformations in labor ― at both the national an

The central bank’s commitment to putting inflationary pressure under control sounds credible at long last. It sounds convincing not because it hints at another benchmark rate hike next month after a 25-basis-point increase to 3.25 percent last weekend. Rather, much of the credibility comes from the administration, which promises to take all measures possible to rein in inflationary pressure.Friday

North Korea appears to have begun to experiment with Chinese-style economic development. The reclusive state and its ally have started work to create two joint economic zones that they plan to develop into commercial and industrial centers by attracting foreign investment.On Thursday, high-ranking officials of the two countries broke ground in Raseon, a port city at the northeastern tip of North K

Lee Kun-hee, chairman of Samsung Electronics, said Thursday that corruption seemed to permeate all subsidiaries of Samsung Group. “Corruption can take the form of receiving lavish entertainment and taking money. But the worst type is a manager forcing his subordinates to engage in corrupt practices,” the tycoon said. What led Lee to chastise the executives and employees of Korea’s largest business

“Don’t ask, don’t tell” is not just an official U.S. policy on homosexuals serving in the military. It also refers to the business practice Korean credit card companies are accused of resorting to when issuing cards to applicants with questionable credit standings.Now regulators are out to put an end to these ill-advised card issuances and other business practices. They say they will start weekly