North Korea ripped up the Sept. 19, 2018, military confidence-building deal with South Korea on Thursday. It was a reaction to South Korea’s partial retreat from the accord in response to the North’s launch of a spy satellite. Seoul had said it would suspend some of the measures in the accord and step up surveillance along the military demarcation line after the North launched its first satellite whose apparent use was military reconnaissance. The North said that it would restore all

The Yoon Suk Yeol administration’s plan to increase the annual enrollment quota for medical schools to deal with a chronic shortage of doctors is a hot-button issue, particularly for doctors who fiercely oppose such a change. In the battle over the quota that involves a host of stakeholders and vested interests, the government has secured an important ally: universities calling for an increase in the quota for their medical schools. Even with the help of universities in favor of a quota hi

The main opposition Democratic Party of Korea eliminated the entire government budget to build the nation's nuclear power ecosystem in a related standing committee on Monday. The Yoon Suk Yeol administration planned to run seven programs on a budget of 181.4 billion won ($140 million) next year. The party removed all of them. There is no reason for this other than the fact that the Yoon administration placed a high priority on the revival of nuclear power industry. The party's removal

South Korea’s major parties are now engaged in a fierce competition to put forward as many populist pledges as possible for the 2024 budget in a bid to win more votes ahead of next year's general election. The problem is that rival parties are so focused on their own political survival and vested interests that they seem too busy to heed serious warnings from international experts about the need for structural reforms to grapple with festering economic risks. Among a flurry of warning

The ruling and opposition parties are together pushing a project worth more than 11 trillion won ($8.54 billion) to build a high-speed rail connecting Daegu to Gwangju without a preliminary feasibility study. Daegu and Gwangju are southeastern and southwestern metropolitan cities where voters vote predominantly for the conservative People Power Party and the liberal Democratic Party of Korea, respectively. Hong Ihk-pyo, floor leader of the majority opposition Democratic Party, met with Daegu May

A system breakdown hit the South Korean government’s major administrative network on Friday, resulting in massive disruptions at civil services across the nation over the weekend and revealing a loophole in the network security of the country’s critical services. The government’s electronic administrative network for public workers, called Saeol, went down Friday morning, and the civil service portal, Government24, also suffered an outage in the afternoon. The network breakdown

The United Nations Command was established under United Nations Security Council resolutions following North Korea’s invasion into South Korea in 1950. It is still stationed in South Korea, because the Korean War has not ended yet, though 70 years have passed after the signing of an armistice agreement. The US-led UNC has played a major role in protecting the liberal democracy of South Korea from communist North Korean aggressors. It commanded UN Forces during the war and its commander sig

South Korea’s video content market is thriving, at least in the video streaming service market, where streaming giants like Netflix continue to produce and distribute globally acclaimed Korean productions such as “Squid Game.” But the boom has also led to unintended developments, including the monopolization of content rights by global streaming firms and deepening financial strains on local platforms, broadcasters and production houses. To find a breakthrough, the government o

The government will relax the current 52-hour workweek -- 40 regular hours and 12 hours of possible overtime -- in certain industries and occupations. It plans to make work hours flexible so that employees in some business sectors and occupations can work longer when they have a lot of work as long as they work fewer hours at other times. The current workweek is too rigid. Making an employee work for more than 52 hours in any single week is illegal in most occupations. There is no exception for

South Korea’s private spending remains in a protracted slump, while a growing number of people go on overseas trips, particularly to Japan, where they tend to spend more generously, offering a contrasting snapshot of the country’s consumption trends. Korea’s domestic private consumption stood at $206.53 billion in the second quarter, down $5.25 billion or 2.47 percent from the previous quarter, according to data released by Rep. Jin Sun-mee of the Democratic Party of Korea on S

The majority opposition Democratic Party of Korea last Thursday passed the so-called Yellow Envelope bill and three bills relating to broadcasting. All of the ruling People Power Party lawmakers boycotted the vote in protest. The Yellow Envelope bill, a revision to the Labor Union and Labor Relations Act, allows employees of subcontractors to demand that main contractors enter collective bargaining with them and to strike to get their demands from main contractors, even though main contractors a

When the government announced last year it would ban the use of paper cups and other single-use products at restaurants and cafes, there were mixed reactions. Proponents welcomed the eco-friendly move while opponents complained of inconveniences and extra costs. On Tuesday, the government abruptly scrapped the plan that a year prior had sparked different responses from consumers, shop owners and civic groups about its pros and cons. This time, however, people are saying the U-turn was motivated

The debt-ridden working poor face growing economic distress brought on by high interest rates. President Yoon Suk Yeol told a Cabinet meeting last week that small-business owners had said in his town hall that they spend most of their hard-earned money on paying their debt to banks so they feel like they are slaves to banks. Financial Supervisory Service Gov. Lee Bok-hyun said on Monday, “Banks are likely to reach a record interest income of 60 trillion won ($46 billion) this year. Also in

Regulators reimposed a ban on short selling on Monday, which resulted in a big jump in stocks -- a sign that the restrictions were taken as a positive development among investors, at least in the short term. The benchmark Kospi ended up 5.66 percent, the biggest increase since March 25, 2020, as the ban on short selling came into effect Monday, but the index dropped 2.33 percent Tuesday on heavy selling by institutions and foreigners. The ban is scheduled to last until June. The question is whet

Grocery price increases are threatening the livelihood of those already struggling to make ends meet. According to Statistics Korea, the grocery price index rose 6.6 percent last month from a year earlier. This is the sharpest rise in 12 months after 7.6 percent recorded in October last year. Looking at price increases of fruits such as apples (72.4 percent) and vegetables including lettuce (40.7 percent) and green onions (24.6 percent), complaints that inflation is an "invisible thief"

Artificial intelligence is expected to deliver not only new, innovative capabilities but also unknown risks. There is little preparation in place to deal with potentially destructive threats that could emerge at the cutting edge of AI in the future -- a dangerous “frontier” that AI could generate. The global AI Safety Summit, held at Bletchley Park north of London, Britain from Nov. 1-2, explored the concept of frontier AI and countries agreed there are substantial risks that may ari

As the National Assembly has started reviewing the budget for 2024, partisan wrangling is expected to intensify as the views of the rival parties differ considerably amid lingering worries about populist projects ahead of the election. Lawmakers kicked off the review of the budget for next year on Wednesday, holding a public hearing about the appropriateness of the budget and fund utilization plans filed by the Yoon Suk Yeol administration. The government presented a 657 trillion won ($489 billi

Kim Gi-hyeon, leader of the ruling People Power Party, said that the party will take procedures to incorporate Gimpo, Gyeonggi Province, into Seoul. Gimpo is a city adjacent to western Seoul. Yoon Jae-ok, floor leader of the party, said that the party will positively consider incorporating other adjacent cities into Seoul if there is demand. The argument for incorporating Gimpo into Seoul was made in the wake of Gyeonggi Province’s push to establish North Gyeonggi Special Self-Governing Pr

Experts have been churning out a flurry of warnings about South Korea’s snowballing household debt. In recent days, two notable warnings have been issued: one from a top-ranked official of the presidential office and the other from the International Monetary Fund. Both warnings share the view that household debt is now at a serious level and the related risks should be kept manageable. The question is whether the government, lenders and households are willing to take the advice seriously a

Actor Lee Sun-kyun, known for his appearance in the Academy-winning Korean movie “Parasite,” and K-pop star G-Dragon of Big Bang are under police investigation on suspicion of drug use. A medical doctor was recently booked on allegations of supplying illegal drugs to Lee and others. About 10 people, including Lee, a music composer and an aspiring singer, are reportedly being investigated by the police. The two cases involving Lee and G-Dragon are causing quite a stir. The police arre