The global economy has faced another extension of uncertainty as the U.S. Federal Reserve again chose to delay its base rate hike. Early this year, expectations of a hike during the first half were dominant in the market.　The most likely timing for a hike was June, according to earlier bets of global investment banks. And the global market was fully bracing for temporary shocks from a U.S. rate hike, alongside hopes for a fast rebound, as the scenario was sufficiently reflected in the market.　Th

It is always tricky to deal with North Korea, indisputably the world’s most isolated, unpredictable and dangerous country. No less tricky – as far as matters concerned with Korean affairs – is dealing with China, the North’s sole remaining socialist ally and patron. 　A senior North Korean official’s surprise visit to China earlier this week – the first of its kind in three years – is yet another piece of evidence that the international community will not be able to end the North Korean nuclear i

Prosecutors with search and seizure warrants raided Thursday several places that include the head office of the duty-free unit of Lotte Group and the home of the daughter of the retail giant’s founder Shin Kyuk-ho.　They said Shin Young-ja is suspected of offering favors -- in return for kickbacks -- to Jung Woon-ho, a convicted businessman who approached her through a middle man to get his cosmetics brand into Lotte duty-free shops. 　We believe that there should be no stone left unturned in the

Korea’s financial market is facing another challenge from an unfavorable external factor. Reversing earlier skepticism about a base rate hike in the U.S., an increasing number of market participants are sharing the view that the Federal Reserve has become hawkish.　More people are betting on a hike next month after the Fed’s rate-setters’ minutes of the last gathering -- unveiled Thursday -- hinted at their hawkish stance for the next meeting June 14-15.　Given the record-high household debt in Ko

The Yongsan-based U.S. Eighth Army Command has started its move down to Pyeongtaek, Gyeonggi Province. Most of the U.S. troops will be moved by 2017, according to the Defense Ministry of South Korea.　While the U.S. troops have been located in Yongsan since the 1950-53 Korean War ended in an armistice, the remaining issue is the alleged contamination of surrounding areas near the Yongsan Garrison, the U.S. military base in central Seoul.　Seoul City estimates that 1,870 tons of polluted water have

Ahn Cheol-soo, coleader of the People’s Party, is under mounting internal pressure to tie up with the main opposition party to boost their chances of defeating the ruling party in the April 13 general elections. 　The pressure is led by the other coleader Chun Jung-bae and Kim Han-gil, the party’s chief campaigner. The two had failed to persuade Ahn in their three-way meeting the previous day and Kim said Friday he was resigning from his post.  　The argument of people like Kim and Chun is simple:

North Korea fired two missiles with a range of about 500 kilometers into the East Sea on Thursday. The latest provocation came one week after it sent rockets into the sea hours after the U.N. imposed new sanctions against its latest nuclear test and ballistic missile launch. 　These are part of the rogue regime’s usual responses to outside pressure like the international sanctions, which come amid the largest-ever South Korea-U.S. joint military drills. 　While these traditional provocations shoul

Thai policy makers, dictators, military leaders or what have you, have never learned how to handle criticism from the international press and the recently issued regulation for foreign media reflects that long-standing mindset.　The stated requirement – that foreign media representatives must demonstrate their attitude towards the monarchy and political development in the country – eats into one’s personal space.　It is like the government is trying to delve into the heart and soul of a person and

The new sanctions that China has reportedly agreed to impose on North Korea are truly a “major upgrade” to existing penalties, as American diplomats say. To make sure they are ultimately effective, however, it’s important to appreciate their limitations.　Under the terms of a Security Council resolution expected to be approved this week, countries will have to inspect any cargo going into or coming out of North Korea. Sales of conventional weapons and aviation fuel to the North will be prohibited

Political parties are rushing to speed up the process of nominating candidates for the April 13 general election as they face a tight schedule due to a long delay in fixing constituency boundaries.　The main opposition Minjoo Party of Korea has already announced the list of 10 incumbent lawmakers who will be denied nomination in the coming elections.　The party’s candidate screening committee, consisting of outside experts, has undertaken a thorough vetting of its 108 lawmakers to remove the botto

The U.N. Security Council’s draft sanctions resolution against North Korea has been unveiled. U.S. Ambassador to the U.N. Samantha Power outlined key points of the draft to reporters Thursday before it is formally adopted.　The latest resolution contains “the strongest set of sanctions imposed by the Security Council in more than two decades.” The measures are geared toward severely restricting North Korea’s access to the funding, technology and know-how needed to advance its illicit nuclear and

Seven years after issuing an executive order promising “promptly to close detention facilities at Guantanamo,” President Obama pleaded with a skeptical Congress on Tuesday to accept a plan to shut that facility in Cuba and relocate some detainees to secure facilities in the United States. Congressional consent is necessary because of a law -- signed, albeit reluctantly, by Obama -- that prohibits the use of federal dollars to transfer Guantanamo inmates to the U.S. or to build facilities in the

　　A consensus on North Korean sanctions by the U.S and China will be beneficial to South Korea, as this could delay Washington’s plan to deploy the Terminal High Altitude Area Defense system on the peninsula.　In return for an agreement on reprimanding North Korea, the U.S might decide to halt -- albeit temporarily -- the deployment of THAAD. This could help South Korea avoid clashing with China on the commercial front.  　Trade, Industry and Energy Minister Joo Hyung-hwan recently dismissed the p

The Korean won has continued to slide against the Japanese currency since the fourth quarter of last year. The yen has recently gained further as investors seek safe assets after “Brexit” worries led to a plunge in the value of the British pound.　The Japanese currency is hovering over 1,105 won per 100 yen, which is its strongest position since September 2013. The situation has reversed from just several months ago, when the yen was weak against the won because of Japan’s quantitative-easing mea

It is urgent for the government to raise the alarm and map out security measures against possible terror attacks from the jihadist extremist group the Islamic State, aside from its readiness posture over another North Korean provocation.　Seoul may have to take the terror threat more seriously than the habitual blackmail from Pyongyang. The nation is not safe from IS-led terrorism -- the militant group included South Korea twice, in September and November last year, as one of its future destinati

Huawei Technologies has unveiled its vision to overtake Samsung Electronics in five years in smartphone market share, after beating the world’s second-largest manufacturer, Apple, by 2019.　The Chinese electronics company grabbed the No. 3 spot in smartphone shipments at the end of 2015, posting 44.3 percent annual growth. It is also targeting a 30 percent increase this year, which would bring its 2016 sales to over 140 million units.　Some market insiders in South Korea might say Huawei is too op

　U.K. Prime Minister David Cameron has reached a deal with Europe’s other leaders on new terms for Britain‘s membership in the European Union, and says the promised referendum on whether to remain in the EU will take place on June 23. He has four months to persuade a closely divided country to stay.　For the sake of the U.K. and the EU both, he needs to succeed -- but he’s leading a divided government and a divided Conservative Party. This isn‘t going to be easy.  　Michael Gove, the justice minis

North Korea is reportedly likely to carry out a long-range missile test in the near future. Japan’s Kyodo News agency, quoting a Japanese government source, reported Thursday that the launch could come as early as in a week. Seoul’s Defense Ministry, which neither confirmed nor denied the report, said the military had been keeping close tabs on the launch site in the North’s northwestern region. 　It has been customary for the North to launch a long-range rocket before or after a nuclear bomb tes

The results of the second telemedicine trial project are in. The Ministry of Health and Welfare said more than 80 percent of the patients who received telemedical care expressed satisfaction. Encouraged by the outcome, the ministry plans to launch another trial project next month on a much larger scale. 　The second project was carried out between March and December last year, involving some 5,300 patients in various places, including islands, remote rural areas, military camps, ocean-going vesse

The South Korean economy underwent an extreme slump in exports and weaker-than-expected recovery in private consumption last year. A series of government-led stimulus policies had to face a number of unfavorable external factors.　From the beginning of 2016, uncertainties have started clouding the local market. Among those are the economic slowdown of China — largest export destination of Korea — a deep slide in international crude prices and the Korean currency’s volatility against major currenc