The market is focusing on the latest data of outstanding loans to households as of December 2015, to be released by the Bank of Korea on Wednesday. The nation’s combined household debt set an all-time high of 1.16 quadrillion won ($943 billion) as of September 2015, and is estimated to have reached a fresh record during the fourth quarter of last year.[번역]수요일 한국은행이 발표할 2015년 12월 현재 가계 부채에 시장의 관심이 쏠리고 있다. 가계 부채는 2015년 9월 사상 최대인 1160조원을 기록했으며 지난 해 4분기에 다시 기록을 갈아치웠을 것으로 추정되고 있다.[/번역]Some analysts a

NIMBYism, or not-in-my-backyard syndrome, is everywhere in the world. But in Korea, it is often exacerbated by political and ideological factors, as seen in the cases of the construction of nuclear waste storage facilities and naval bases.[번역]님비 증후군(not-in-my-backyard syndrome)은 세계 어디에나 있지만 한국에서는 핵 폐기물 저장시설, 해군 기지 건설 사례에서 보듯 정치적, 이념적 요인으로 인해 악화되기 일쑤다.[/번역]Usually liberals, civic activists and environmentalists join residents to fan fires of activism against key state projects. Sadly, it is very

The Gaeseong complex incident has created another split in public opinion over state policy, following the Education Ministry’s plan to publish uniform national history textbooks and the Foreign Affairs Ministry’s deal with Tokyo on sex slavery victims during World War II.[번역]개성공단 사건은 교육부의 국정 역사 교과서, 외교부의 위안부 문제 합의에 이어 국가 정책에 대한 여론 분열을 또 한번 초래하고 있다.[/번역]If a dominant percentage of citizens had supported the government’s closure of the inter-Korean industrial park, there would have been little ne

South Korea and the United States are rushing to mete out strong unilateral sanctions on North Korea, stepping up pressure on China to move toward tougher U.N. Security Council sanctions against the rogue state for its nuclear and missile provocations.[번역]북한의 핵. 미사일 도발에 대해 한국. 미국이 강력한 일방적 대북 제재를 부과하려 서두르며 더욱 강력한 유엔 안보리 제재를 마련하려는 압박을 중국에 강화하고 있다.[/번역]Following Seoul’s surprise decision on Feb. 8 to shut down the Gaeseong industrial complex, the United States Congress approved a package of stringe

The current tension created by North Korea’s nuclear test and long-range missile launch and the South Korean government’s decision to pull out of the Gaeseong industrial park shows how volatile and unpredictable the situation on the peninsula is.[번역]북한의 핵실험과 장거리 미사일 발사, 한국 정부의 개성공단 철수 결정이 만들어낸 현재의 긴장은 한반도의 상황이 얼마나 불안정하며 예측불가능한지를 보여준다.[/번역]Some even say that the effective closure of the Gaeseong complex, the 12-year-old symbol of inter-Korean economic cooperation and reconciliation, has taken rel

A growing number of securities firms have forecast that the Bank of Korea’s Monetary Policy Committee will lower the benchmark interest rate in March after signaling a cut in its upcoming gathering this week. A minority even predicts a monetary easing -- from the current 1.5 percent to 1.25 percent per annum -- on Feb. 16.[번역]한국은행 금융통화위원회가 이번 주 회의에서 기준금리 인하를 예고한 후 3월에 금리를 인하할 것으로 전망하는 증권사들이 늘고 있다. 몇몇 증권사는 2월 16일 기준금리를 연 1.5%에서 1.25%로 인하할 것으로까지 전망하고 있다.[/번역]Those predicting BOK’s rate cut highlig

South Korea’s small investors are expressing their anger at some securities firms for reportedly cooperating with corporate investors over their short-selling practices.[번역]한국의 소액 투자자들이 공매도 관행에 대해 기관 투자자들과 협력하는 것으로 알려진 일부 증권사에 분노를 표하고 있다.[/번역]A recent move to transfer their stocks to the accounts of other securities firms is gaining support from more and more individuals. The brokerage houses, which have faced retaliatory moves by individuals, included Kiwoom Securities, Mirae Asset Securities a

North Korea has demonstrated its determination to up the ante in its confrontation with the United States and the world community by deciding to push ahead with a long-range missile test later this month. The North has notified international maritime and telecommunications agencies of its plan to launch an “earth observation satellite” between Feb. 8 and 25 pursuant to its space development program.[번역]북한이 이달 장거리 미사일 실험을 강행하기로 결정해 미국, 국제사회에 대한 대립을 강화하겠다는 뜻을 보여주고 있다. 북한은 우주 개발 프로그램에 따라 오는 8일에서 25

It is not rare for our public officials and executives of commercial firms to use their corporate cards for wrong purposes. Yet the case of the former CEO of Arirang TV-Radio channel leaves us speechless. Bang Suk-ho stepped down as CEO of the nation’s sole English-language channel after a series of allegations that he misappropriated company funds during overseas trips.[번역]공직자들이나 기업 임원들이 잘못된 목적에 법인카드를 사용하는 것은 드문 일이 아니다. 그러나 전 아리랑 TV 사장의 경우는 할말을 잊게 만든다. 방석호 전 아리랑 TV사장은 해외 출장 중 회사자금을 유용했다는 잇단 의혹으

South Korea is destined to open up its legal services market as mandated by the free trade agreements with the European Union and U.S. -- which took effect in July 2011 and March 2012, respectively -- within five years of their implementation.[번역]한국은 2011년 7월, 2012년 3월에 발효된 한-EU FTA, 한-미 FTA에 따라 FTA 이행 5년 내에 법률시장을 개방해야 한다.[/번역]Last month, the issue came to the fore again as a group of local lawyers raised the worn-out sovereignty matter. They denounced U.S. ambassador Mark Lippert and some other

Under the vision of making Korea a “creative economy,” the government has been striving to foster new businesses based on creative ideas and emerging technologies. Yet the government’s efforts are seriously hampered by Korea’s regulatory backwardness.[번역]정부는 한국을 ‘창조 경제’로 만든다는 비전 하에 창조적 아이디어와 신기술을 토대로 새로운 산업을 육성하기 위해 애쓰고 있다. 그러나 한국의 규제 후진성이 정부의 노력을 크게 방해하고 있다.[/번역]The Korean Chamber of Commerce and Industry recently released a report showing how outdated regulations or the absence of proper regul

As political parties gear up for the April 13 general election, some negative aspects of Korean politics are rearing their ugly heads. The already notorious factional strife within parties -- between President Park Geun-hye’s loyalists and the “non-Parks” in the ruling party and between those who were close to the late President Roh Moo-hyun and the “non-Rohs” in the main opposition party -- are heating up day by day as they brace for a war over candidate nominations.[번역]여야가 4.13 총선을 준비하면서 한국 정치

Recently, there has been a series of news reports about lawmakers accused of wrongdoing. There were both positive and negative elements in them. The positive news came from The Minjoo Party of Korea, the main opposition party whose ethics panel suspended the party membership of two lawmakers -- Reps. Noh Young-min and Shin Ki-nam.[번역]최근 국회의원들의 비위 의혹에 대해 잇단 뉴스 보도가 있었다. 긍정적, 부정적 요소가 모두 있었다. 긍정적 소식은 더불어민주당 윤리심판원이 노승민. 신기남 의원의 당원자격을 정지시켰다는 것이었다.[/번역]The disciplinary action, which bans Noh for six mo

The government’s controversial guidelines on general dismissals and rules of employment have gone into effect. As the two new guidelines make it easier for employers to lay off underperforming workers and amend employment regulations to put employees at a disadvantage, the government needs to step up oversight of labor practices at workplaces to prevent them from being abused.[번역]논란을 빚고 있는 정부의 일반 해고, 취업 규칙에 대한 지침이 시행됐다. 양대 지침으로 저성과자 해고, 취업 규칙 불이익 변경이 쉬워지므로 정부는 양대 지침이 오용되지 않도록 노동 관행 감독을 강화해야 한다.[

President Park Geun-hye called her proposal for five countries to hold a separate meeting on denuclearizing North Korea a “creative approach.” To start with, it is flatly wrong to call it “creative” because the idea has been floated in the past.[번역]박근혜 대통령이 북핵 비핵화에 대한 5자 회담을 열자는 자신의 제안이 ‘창조적 접근’이라고 말했다. 우선 5자 회담은 과거에도 나온 아이디어이므로 ‘창조적’이라고 말하는 것은 완전히 잘못된 것이다.[/번역]And this time, too, the proposal, which Park made last Friday in a meeting with her key security and foreign policy aides, is likely to