The Supreme Court has sent shockwaves through the business community by expanding the scope of “ordinary wage.”The top court has ruled that bonuses constitute ordinary wages if they have been paid “on a regular, uniform and fixed basis” ― regardless of the length of the payment intervals. This reverses the government’s rule that has been in place for the past 25 years. The rule regards bonuses as part of ordinary pay only when they are paid on a monthly basis. It excludes bonuses paid quarterly

TEHRAN ― Iranian Foreign Minister Mohammad Javad Zarif said that despite hitting a “snag” in nuclear negotiations last week, Iran is committed “100 percent” to reaching a comprehensive final agreement. But he voiced tough positions on key issues and said “it’s going to be a bumpy road,” with difficult bargaining ahead.Zarif, who is Iran’s top chief negotiator, outlined his views in an hourlong interview at the foreign ministry here Sunday. He said that his country would continue the talks, despi

When Edward Snowden’s revelations of National Security Agency spying shocked the world, we were immediately struck by the huge risk to Silicon Valley industry if people no longer trusted the security of American technology.Six months later, the extent of the problem is being quantified: The Information Technology & Innovation Foundation estimates the hit to U.S. cloud computing providers at $35 billion over the next three years. Forrester analyst James Staten calculates tech losses at $180 billi

When a political crisis hits Pyongyang, the leadership’s normal antidote is to hide the real drama in rumors and shadows while assuring the world that outside forces are no match for North Korea’s spirit of “single-hearted unity.” But North Korea’s real-time media coverage of the vituperative public denunciation and execution of Jang Song-thaek, the uncle by marriage of North Korean leader Kim Jong-un, has exposed deep divisions within the Kim family leadership and has shocked North Koreans and

In its cover story on the “Person of the Year,” Time magazine contrasts Pope Francis’s background with that of his two most recent predecessors: “John Paul II and Benedict XVI were professors of theology. Francis is a former janitor, nightclub bouncer, chemical technician and literature teacher.”The point can be extended further. Every pope from 1914 to 1978 had Vatican diplomatic or bureaucratic experience, and so our understanding of the papacy has been shaped by diplomats, bureaucrats and sch

Nelson Mandela, the symbol of peace and harmony, has left the world and the whole world has vowed to live up to his spirit and ideals. But many countries continue to suffer from conflict and discord. His message to the world can be summarized in three words: freedom, equality and solidarity. These three ideals are the same as those of the French Revolution and the first three universal values stated in the U.N. Millennium Declaration. Mandela’s view is that the U.N. should be the foundation of w

The free-trade agreement being negotiated by the U.S. and 11 other nations is considered the economic keystone of the Barack Obama administration’s much-vaunted “pivot” to Asia. If successful, the Trans-Pacific Partnership will liberalize a $2 trillion market, reinforce U.S. standing as the lead promoter of “21st century” trade practices, and revolutionize economic relations between the U.S. and its most important ally in the region, Japan.Given the complexities of negotiations involving economi

By now, young adults have heard that they are key to making Obamacare work, and the Obama administration has spent ample resources trying to convince them that the law is a good deal for them.But they don’t seem to be buying in. A new Harvard poll shows that 57 percent of young adults polled disapprove of the health care law. And with good reason: The law will impact young adults’ wallets far more negatively than those of older adults in two big ways.1. Higher premiums. First, it’s the Obamacare

As in previous years, lawmakers deliberating the government’s budget proposal are keen to secure state funding for their districts, a practice called pork-barreling. Their enthusiasm appears to be stronger than usual due to the local elections slated for next year.As a result, all 12 of the Assembly’s 16 standing committees that have finished deliberations approved a budget increase. The Land, Infrastructure and Transport Committee had the biggest rise in requested funding, at 2.3 trillion won,

The rail workers’ strike has entered its 10th day and still shows no sign of letup. The walkout, the longest ever of its kind, is already taking a heavy toll on passengers and industries that depend on rail transport. The government is stepping up pressure on the striking workers of Korea Railroad Corp. to end their illegal action. Prosecutors are tracking down the 10 union leaders for whom the court has approved arrest warrants.They applied for the warrants after President Park Geun-hye denounc

DUBAI ― Is President Obama an American version of Mikhail Gorbachev, the leader whose well-intentioned reforms led to the demise of his country’s global power? That’s the anxiety a traveler hears these days from worried U.S. allies, and it’s mirrored in a provocative article published recently. This concern about erosion of American power is powerfully stated in “The End of History Ends” by Walter Russell Mead in The American Interest. Mead warns that Obama’s attempts to disengage from the over-

Every time you pull out your smartphone in public, you’re making yourself a target.The mobile gadgets are easy to spot, easy to steal and fetch hundreds of dollars quickly on the black market.Protect Your Bubble, a company that sells insurance for personal electronics, says 113 smartphones are stolen every minute in the U.S. In New York, those thefts account for 14 percent of all crime.Cops have a name for it ― Apple picking ― but the iPhone maker is actually out front in the effort to curb gadg

Recently, several Korean newspaper columnists have complained that U.S. Vice President Joe Biden’s remarks on the Korea-U.S. relationship were inappropriate. They were especially unpleasant because they thought Biden had compared the Korea-U.S. relationship to gambling. When he was in Korea recently, Biden reportedly said, “The United States never says anything it does not do. It’s never been a good bet to bet against America ... and America will continue to place its bet on South Korea.” One mi

Enthusiasm for a big increase in the federal minimum wage is building in the U.S. It’s a shame to see so much energy devoted to a policy that’s not only dubious but also sidelines better ideas.In his State of the Union address in February, President Barack Obama called for an increase in the federal minimum wage to $9 an hour from $7.25. Recently he said he supports a measure that would raise it in stages to a little more than $10. State and local governments across the country have been going a

Just when it seemed Hu Jintao’s record as China’s president couldn’t look any worse, Kim Jong-un adds another black mark to his legacy.Last week’s dramatic execution of Kim’s uncle and No. 2 ― the China-friendly Jang Song-thaek ― has many people looking to see how Beijing reacts. China is Kim’s main benefactor and, despite protestations to the contrary, the only government with real leverage over North Korea’s leader. In the weeks to come, current President Xi Jinping should do all he can to wie

BEIRUT, Lebanon ― After spending just three days with refugees and aid workers in Lebanon and Turkey, the apocalyptic nature of the Syria crisis is all too apparent: more than 100,000 deaths, nine million people displaced, two million children out of school, diseases like polio resurfacing, and neighboring countries struggling to cope with waves of refugees.Countless heartrending stories of lost husbands, wives, siblings, and children, to say nothing of homes and livelihoods destroyed, provide y

Chinese President Xi Jinping must have felt pretty pleased with himself earlier this year, after he dispatched rival and former Politburo member Bo Xilai in a dramatic, humiliating show trial. When it comes to staging purges, though, North Korea’s brash young leader Kim Jong-un has him beat.Kim didn’t just arrest his uncle, Jang Song-thaek, the second-most powerful man in the country. The boy-dictator appears to have had Jang brought out of seclusion in order to arrest him again at a televised l

NEWPORT BEACH, California ― The United States’ reputation for sound economic policymaking took a beating in 2013. Some of this was warranted; some of it was not. And now a related distorted narrative ― one that in 2014 could needlessly undermine policies that are key to improving America’s economic recovery ― is gaining traction.The 2008 global financial crisis left the U.S. economy mired in a low-level equilibrium, characterized by sluggish job creation, persistently high long-term and youth un

There are over 6,000 international organizations around the world and all of them need a place in which they can set up camp and carry out their mission. Recently the headquarters of the Green Climate Fund, located in Songdo, the new city that is forming near Incheon, was opened to much fanfare with many dignitaries present including President Park Geun-hye, Deputy Prime Minister Hyun Oh-Seok and even World Bank Group President Jim Yong Kim. The United States is home to 3,646 international organ

What does Alan Greenspan have to do with rallies in Indian stocks, hopes for a resurgent Japan and the blind faith that China can grow at a rate of 7 percent forever? More than you’d think.Call it the Greenspanization of Asia. The former chairman’s tenure at the Federal Reserve, from 1987 to 2006, established a new political compact of sorts, whereby governments abdicated responsibilities to unelected central bankers. The “Greenspan put” that flooded markets with cash whenever things got dicey h