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[Editorial] Legislate prudently

EditorialSept 23, 2020

Three economic bills pushed by the government and the ruling Democratic Party of Korea are making businesses nervous. They are amendments to the commercial law and the fair trade law, and a proposed act on the supervision of financial groups. Businesspeople are bewildered that Kim Chong-in, the interim leader of the main opposition People Power Party, agreed to the bills in principle. They believed the conservative pro-business party would oppose the bills. Kim said if there are any unreasonab
[Monitor] No. of travelers within country during Chuseok to decline 30%

IndustrySept 22, 2020

With the continuing spread of COVID-19, the number of travelers visiting their hometowns or traveling locally during the upcoming Chuseok holiday is expected to decrease 30 percent from last year. The Transport Ministry said most travelers appear to be using cars for their travel. It predicted the morning hours of Sept. 30 and afternoon of Oct. 3 to see the heaviest traffic on expressways. (khnews@heraldcorp.com)
[Daoud Kuttab] The Arab betrayal of the Palestinian people

ViewpointsSept 22, 2020

It is normal for countries with deep disagreements nonetheless to maintain diplomatic, trade and commercial relations. Yet there are also circumstances when such relations are regarded as nonstarters. That is certainly the case for most countries vis-a-vis North Korea, but it also describes America’s previous stance on Cuba, and now Venezuela, as well as Israel’s policy on Iran, Saudi Arabia’s on Qatar, and much of the Arab world’s on Israel. Given the importance of dial
[Editorial] Realistic viewpoint

EditorialSept 22, 2020

During a visit to a 1950-53 Korean War battlefield Saturday, Defense Minister Suh Wook said military tensions on the peninsula have eased due to the implementation of an inter-Korean agreement signed two years ago. In his inaugural speech the day before, South Korea’s new defense chief vowed to fully implement the 2018 military accord with North Korea in line with Seoul’s efforts to build lasting peace on the peninsula. Signed on the occasion of President Moon Jae-in’s second
[Monitor] Overseas investments shrink in Q2

IndustrySept 21, 2020

Amid the ongoing COVID-19 pandemic, the volume of overseas direct investments made shrunk 27.8 percent in the second quarter, according to data released by the Ministry of Economy and Finance. The amount of overseas investments stood at $12.14 billion in the April to June period, a decline of 27.8 percent from the same period last year. The decline marked the biggest in nine quarters, since the first quarter of 2018. The net investment posted $7.61 billion, down 46 percent from a year earl
[Editorial] Fulfilling duties

EditorialSept 21, 2020

A recent audit of the presidential office may look unusual, but the Board of Audit and Inspection just carried out its responsibilities. It should be able to keep doing so.　 Last week the board announced the results of an audit and revealed that presidential committees had paid illegal salaries to President Moon Jae-in’s close associates.　 The Presidential Committee for Balanced National Development paid Song Jae-ho 4 million won ($3,400) in “advisory fees” each month from Ja
[Contribution] In celebration of first assembly of KF-X airframe

IndustrySept 20, 2020

Bradley Leland is the Lockheed Martin Program Director for the KF-X Program as part of F-35 offset. He has an extensive background in fighter aircraft development, including the F-22, T-50, and F-35 Programs. He has been supporting Korea Aerospace Industries since the beginning of the KF-X program in 2015. -- Ed. Nearly five years ago, the KF-X Program began. It began with a vision, a vision built upon a 30-year commitment to successfully develop an aerospace industry in Korea. The KF-X visio
[Monitor] Korean firms remain active in M&As

IndustrySept 18, 2020

A look into merger and acquisition deals reported by the top 500 South Korean firms over the past five years showed that the companies remained active in the market despite the COVID-19 pandemic this year. According to corporate tracker CEOScore, the businesses spent a combined 11.45 trillion won ($9.7 billion) in 52 M&A cases in the first eights months of this year. Some of the biggest deals included KB Financial Group taking over Prudential Life Insurance for about 2.3 trillion won. Kor
[Editorial] Balanced approach

EditorialSept 18, 2020

During his visit to the truce village of Panmunjom on Wednesday, Unification Minister Lee In-young expressed hope for the resumption of “open-minded” dialogue between the two Koreas at an early date. The visit came days ahead of the second anniversary of the summit between South Korean President Moon Jae-in and North Korean leader Kim Jong-un in Pyongyang. During their second encounter in 2018, Moon and Kim agreed to reduce tensions on the peninsula and bolster cross-border coopera
[Monitor] Korea's COVID-19 test kit exports expected to surpass W1tr

IndustrySept 17, 2020

Exports of Korean-made diagnostic kits for COVID-19 radically surged this year, reaching a total of over $797 million (about 940.5 billion won) by Aug. 20, data from the Korea Customs Service showed. While the exact data has not been released yet, the amount is expected to have surpassed 1 trillion won at the end of August. (khnews@heraldcorp.com)
[Lee Kyong-hee] Risk literacy matters in coronavirus war

ViewpointsSept 17, 2020

A virus doesn’t even have its own cells to replicate. It needs a host cell to multiply. A virus is a submicroscopic microbe. That means it is too small to be seen even with a microscope. However, this invisible pseudo life-form can wreak monstrous-sized havoc in populations. Some leaders even speak as if it can see and hear. US Sen. Kamala Harris’ remarks at the virtual Democratic National Convention last month are telling. The first woman of color to vie for Washington’s sec
[Editorial] Youn on trial

EditorialSept 17, 2020

The prosecution on Monday indicted Rep. Youn Mee-hyang of the ruling Democratic Party of Korea, on charges of embezzling funds for elderly victims of wartime sexual slavery. She faces eight counts of embezzlement, fraud and related charges. Many suspicions swirled around her and an advocacy group she led for the women who were taken into front-line Japanese military brothels during World War II. Korea was a Japanese colony at that time. She has denied all of the suspicions, but the results
[팟캐스트] (370) 코로나 사태와 함께 심각해지는 일회용 플라스틱 사용/ 봉준호 감독의 할리우드 리메이크작 ‘해무’

PodcastSept 16, 2020

진행자: 김혜연, Kevin Lee Selzer 1. War on single-use plastics faces another setback as virus fears resurge 요약: 코로나 19와 함께 다시 한 번 직면한 일회용 플라스틱 사용 문제 [1] Coronavirus cases have surged again in Korea, and so has the use of single-use plastics. As the country struggles to curb a second wave of COVID-19 infections, people are buying food and drinks via takeaways or deliveries that come in plastic packaging. *surge: 밀려들다, (감정이) 휩싸다, 급등하다 *curb: (특히 좋지 못한 것을)억제하다, 제한하는 것 [2] Official data has yet to
[Monitor] China biggest semiconductor market for Korea

TechnologySept 16, 2020

As the new US sanctions on China’s Huawei came into effect Tuesday, South Korea has stepped up monitoring on the impact of the ban on chip sales to the Chinese company. According to data by Korea International Trade Association, China was the biggest market for Korea to export semiconductors. From January through July, Korea exported a total of $22.49 billion worth semiconductor products to China, which accounted for 41.1 percent of the country’s total chip exports. And chip exp
[Editorial] Worrying mix

EditorialSept 16, 2020

Rising household debt coupled with declining employment is posing a potentially severe problem to the country’s financial sector and by extension its real economy. Recent data show South Korea’s household credit has been increasing rapidly since the coronavirus outbreak early this year, while employment conditions continue to worsen amid the pandemic crisis. The on-month increase in household loans by local banks and nonbank lenders accelerated from 2.8 trillion won ($2.3 billion)