The Korean government says the nation is moving toward stabilizing housing prices due to its supply and policy measures, but experts are scratching their heads. “(Cheong Wa Dae) has thoughts close to a conviction that housing prices have begun to stabilize,” said Park Soo-hyun, senior presidential secretary for public communication, in a local radio interview Tuesday. The nation’s housing prices have continuously increased during Moon’s administration, but a slowdown

Washington should ease sanctions on North Korea with a “snapback” clause, as current measures only give Pyongyang justification for nuclear armament, says the head of the Korean National Diplomatic Academy. “The original purpose of sanctions is to make a country a normal state so that they stop further provocation or give up nuclear weapons. Punishment for doing wrong is incidental,” said Hong Hyun-ik, chancellor of the Korean National Diplomatic Academy, in an intervie

President Moon Jae-in hailed progress in South Korean democracy in a New year’s address on Monday, saying it has “matured” and been recognized by the world. “The government, which was launched without a transition committee in the face of an impeachment of the president, unprecedented in constitutional history, straightened up the collapsed constitutional order and advanced democracy,” Moon said in a speech delivered on the main stairs of Cheong Wa Dae on Monday m

The next president, to be elected in March and take office in May, will have a host of urgent issues. Korea’s economy has been hit hard by the prolonged pandemic. Millions of small business owners and self-employed people are burdened with mounting debts. Housing prices have soared. The deepening US-China rivalry is posing a tricky policy challenge. Relations with the North and with Japan have turned sour. Whoever becomes a new president, their top priority will, above all, be respondin

South Korea will extend the current social distancing measures for another two weeks, and the youth vaccine pass will be applied from March 1, a top official said Friday. “It is too early to be sure that we have overcome the crisis,” said Prime Minister Kim Boo-kyum at the COVID-19 Central Disaster and Safety Countermeasures Headquarters meeting, explaining the plan to strengthen quarantine measures. “In particular, it takes time to preemptively prepare before the highly tr

Former President Park Geun-hye was to be released at Thursday midnight, when the presidential pardon takes effect, after spending four years and nine months in prison for several corruption convictions. According to the Ministry of Justice, the amnesty of Park was to take effect at midnight. Park was to be released from her room at Samsung Medical Center in Seoul, where she has been receiving treatment for several weeks. Park’s deteriorating health was an important consideration for the

People Power Party presidential candidate Yoon Suk-yeol’s spouse Kim Keon-hee apologized in public Sunday for causing controversy with the allegations that she had made false claims about her career history. “There were my faults in the process of working and studying together,” Kim said with her head bowed as she read out a statement at a press conference in Seoul. “I inflated my career to look good and wrote it (resumes) wrong. I shouldn’t have done that, but lo

  President Moon Jae-in will meet with leaders of South Korean conglomerates, including Samsung chief Lee Jae-yong, to thank them for their efforts in participating in government-led job creation projects for young people and discuss implementation plans on Monday, Cheong Wa Dae confirmed Sunday. The meeting will be attended by Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Chairman Chung Euisun, SK Chairman Chey Tae-won, LG Chairman Koo Kwang-mo, Posco Chairman C

Kim Jin-kook, senior presidential secretary for civil affairs, on Tuesday tendered his resignation after it was found that his son had attempted to use Kim’s position to find employment, officials said. “President Moon accepted Kim Jin-kook’s resignation,” said Park Soo-hyun, senior Cheong Wa Dae secretary for public communication. “There is no discussion on the successor yet.”　 Kim issued an apology, saying, “Above all, I deeply apologize for ca

The Sunfull Foundation has held a ceremony to present an award in collaboration with the National Assembly to 61 lawmakers who make positive remarks, the organization said Thursday. The Sunfull Foundation is a non-governmental organization founded by English educator Min Byung-chul in 2007 to counter cyberbullying, hate speech, and human rights violations on the internet. The recipients were chosen by 300 high school and college students, the organization said. The students selected 30

Former presidents Lee Myung-bak and Park Geun-hye, currently serving prison terms for a number of corruption convictions, are unlikely to be included in a list of New Year’s special pardons, which could be the last of the Moon Jae-in administration. From Monday, the Ministry of Justice began a two-day amnesty review by a nine-person committee, including Justice Minister Park Beom-kye and senior officials from related agencies. The selected list will be reported to the president and the f

Yoon Suk-yeol, the presidential candidate for the main opposition People Power Party, bowed his head and apologized Friday for the controversy over allegations his spouse Kim Keon-hee had made false claims about her career history. "I am sorry for causing concern to the public over the controversy related to my wife," Yoon told reporters. "Regardless of the reason, I make it clear that the fact that (she) caused controversy without accurately writing down her career does not fi

South Korea will inject 4.3 trillion won ($3.6 billion) in subsidies to support owners of small businesses and self-employed people struggling from social distancing rules necessitated by the pandemic, top officials said Friday. The support measures come a day after the government decided to reimpose restrictions due to a surge in infections. Finance Minister Hong Nam-ki said at a joint government briefing on the day, “If a sales decline is confirmed, the government will pay 1 million

The government has halted the measure for phased daily recovery as infections continue to surge. From Saturday, the number of people allowed to attend private gatherings will be reduced to four and entertainment facilities, restaurants, and cafes will only be open until 9 p.m. nationwide. Prime Minister Kim Boo-kyum announced the new measure at the COVID-19 Central Disaster and Safety Countermeasure Headquarters on Thursday morning. He said a meeting was held earlier than scheduled because &ld

Prime Minister Kim Boo-kyum said Wednesday the government was considering implementing stronger social distancing measures as infections continue to surge, and will announce them soon. As of Tuesday midnight, the number of new daily cases marked 7,850, the highest since the pandemic broke out. The number of severely ill patients increased by 58 from the previous day, reaching the high 900s. The number of new confirmed cases has been increasing sharply after surpassing 4,000 for the first ti