Most Popular
-
1
Criminals who drugged teens' drinks with meth sentenced to up to 18 years
-
2
Rival parties unite to form 4-way body to break med school standoff
-
3
Korea to certify safety of EV battery from October
-
4
Wartime sexual slavery victims file for Japanese govt. asset disclosure
-
5
S. Korea logs current account surplus for 3rd month in July
-
6
Producer Teddy's girl group Meovv debuts, showcasing dual feline charms
-
7
Farewell summit: Yoon, Kishida pledge to keep momentum in revitalizing ties
-
8
Man to pay W727m for opening plane door before landing
-
9
Two Korean women arrested for stealing tourist's bag in Turkey
-
10
Frieze Seoul sees slower sales, yet confirms stronger art scene in Seoul
-
[Doyle McManus] A lesson from Biden and Trump
A poll published by the Economist this month included a finding that was striking yet unsurprising: Almost 7 in 10 Americans believe things in the country have spun out of control. That's a problem for President Joe Biden, who campaigned in 2020 offering a return to normalcy after four years of chaos under Donald Trump. Biden promised, in effect, to Make America Normal Again, but "normal" never quite returned. The COVID-19 restrictions ended, but the ensuing recovery brought high
May 16, 2024
-
[Kim Seong-kon] The last thing we learn in this world
We keep learning until we breathe our last breath on earth. No matter how old and erudite we are, there are always new things we need to learn. Learning continues even after graduating from school and becoming a grown-up. Many things around us constantly change and we have to keep up with them. Our language is a good example. The usage of vocabulary or verbal expressions constantly changes and we need to catch up. When I taught at Brigham Young University in the US in the 1990s, my colleague, pr
May 15, 2024
-
[Antara Haldar] The psychologist who convinced economists that to err is human
The recent passing of psychologist and Nobel laureate Daniel Kahneman is an apt moment to reflect on his invaluable contribution to the field of behavioral economics. While Alexander Pope’s famous assertion that “to err is human” dates back to 1711, it was the pioneering work of Kahneman and his late co-author and friend Amos Tversky in the 1970s and early 1980s that finally persuaded economists to recognize that people often make mistakes. When I received a fellowship at S
May 15, 2024
-
[Grace Kao] American racism against Stray Kids
As a K-pop fan, I was delighted that Stray Kids were attending the Met Gala on May 6, 2024. K-pop fans generally and Stays (the name of Stray Kids’ fandom) specifically celebrated the increasing inclusion of K-pop. Perhaps the US media now took K-pop seriously and would treat its artists respectfully. We were wrong. A few members of the paparazzi’s treatment of Stray Kids was shameful and racist, and embarrassed me as a fellow American. However, none of it was surprising and all of i
May 14, 2024
-
[Lilja Dogg Alfredsdottir] How to close the gender wage gap
Last year, a 24-hour women’s strike was organized to protest the country’s gender pay gap and gender-based violence. Thousands gathered in central Reykjavik to demonstrate their solidarity. For the 14th year running, Iceland (91.2 percent) takes the top position in the Global Gender Gap Report 2023. It also continues to be the only country to have closed more than 90 percent of its gender gap. The Economist’s glass-ceiling index rates Iceland as the best place in the world for
May 14, 2024
-
[Yoo Choon-sik] Promises for living cost problems
President Yoon Suk Yeol promised to do his best to control consumer prices as he resumed activities to interact directly with the public on Friday for the first time after the ruling party’s crushing defeat in the early April parliamentary election. The government also announced fresh measures to help counter the surging cost of living, led by rising food prices. This came a day after Yoon apologized for failing to solve the issues people face during his first news conference in nearly two
May 13, 2024
-
[Ken Taylor] Reshaping the discourse on heritage
The focus of the proposal by Korea‘s Cultural Heritage Administration to shift the emphasis of the Korean system on perceptions of heritage is a landmark decision. Notably, it reflects international scholarly discourse and professional best practice thinking in the field of cultural heritage and natural heritage management in that over the last thirty years or so, the concept of heritage, its management processes and the very role it plays in the social arena have gone through significant
May 13, 2024
-
[Wang Son-taek] Problems in press freedom and democracy
The 2024 World Press Freedom Index, released recently by Reporters Without Borders, an international organization for monitoring press freedom, contains a severe warning to democracy in Korea. In the index, which reflects the media situation in 2023, South Korea ranked 62nd out of 180 countries surveyed. Korea received its worst report card since it ranked 69th in the 2009 index and 70th in the 2016 index. It was 43rd in the 2022 index, when the index methodology was changed significantly, but f
May 9, 2024
-
[Andrew Sheng] Protecting trade is protecting yourself
Until 2016, it was almost taken for granted that free trade is good for everyone. That was before Donald Trump started the tariff war on Chinese imports, which his successor Biden turbocharged with even more sanctions against individuals, companies and countries. The IMF has estimated that since 2019, the number of new sanctions imposed yearly has tripled to over 3,000. The European Union is about to impose Carbon Border taxes on imports, which will further add costs and administrative burdens o
May 8, 2024
-
[Kim Seong-kon] A time to leave your parents
It is nature’s law that children leave their parents when they enter adulthood. Whether we are talking about humans or animals, there comes a time when children leave their parents and become independent. No one can expect to live with his or her parents or children forever. Traditionally in America, when your child turns 18 years old and enters legal adulthood, your parental duties and responsibilities are finally over. Your child becomes independent by either leaving home for college or
May 8, 2024
-
[Grace Kao, Meera Choi] Has money displaced romance on dates?
According to a March 29, 2023 article in The Korea Herald, 83 percent of couples have argued over how to split dating expenses. Increasingly, it seems that young people are measuring love and romance in won. Meera Choi, a Ph.D. candidate in sociology at Yale University, has interviewed 130 women aged 20 to 40 in Korea for her dissertation research. These women all believed in women’s rights, and some had strong opinions about how dating expenses (for heterosexual couples) ought to be split
May 7, 2024
-
[Yoo Choon-sik] Saemaul Geumgo and trust in financial system
Some of the business irregularities involving MG Community Credit Cooperatives, better known as Saemaul Geumgo within the country, have again grabbed media headlines in recent weeks, even as their stretched exposure to the depressed real estate market remains a potential risk to South Korea’s financial stability. The Korea Economic Daily and other local media reported that Saemaul Geumgo cooperatives paid out some 500 billion won ($367 million) in dividends to their members last year, more
May 7, 2024
-
[Robert J. Fouser] AI changes rationale for learning languages
As the AI boom spreads and puts down ever deeper roots, questions about the future of foreign language education have arisen. If AI can translate and interpret on demand, then why learn foreign languages in the first place? Is there some innate value in learning foreign languages that negates the convenience of AI? These questions are important for South Korea because foreign languages have an important place in the educational curriculum and in career development. Foreign language learning on a
May 3, 2024
-
[Wang Son-taek] 'Lattice-like architecture' to manage alliances
Mr. Rahm Emanuel, the US ambassador to Japan, introduced the concept of "lattice-like architecture," which can be a new US alliance management system in the Indo-Pacific region, replacing the current "hub-and-spokes" system. Emanuel explained that the new system will help allies in the Indo-Pacific area work together and increase collective deterrence to counter China's coercive and aggressive behavior. The concept metaphorically describes several small-size cooperation
May 2, 2024
-
[Richard K. Sherwin] Trump‘s enablers on Supreme Court
The fate of American democracy was on the US Supreme Court’s docket last week as lawyers argued over the nature and limits of presidential immunity. The case before the Court concerns federal criminal charges arising from former President Donald Trump’s alleged attempt to thwart the peaceful transition of power following the 2020 election. The acts charged include fraudulently asking state officials to “find” non-existent pro-Trump votes and coercing Vice President Mike P
May 2, 2024
-
[Jeffrey Frankel] The election-devaluation cycle
The proposition that major currency devaluations are more likely to come immediately after, rather than before, an election is being tested anew. In the biggest voting year in history, the implications could be far-reaching. Economists will recall the Nobel laureate economist William D. Nordhaus’ influential 1975 paper, “The Political Business Cycle.” According to Nordhaus, in the year leading up to an election, governments are more inclined to pursue fiscal and monetary expans
May 1, 2024
-
[Kim Seong-kon] Between the ‘Free World’ and authoritarian countries
Today, we are witnessing a sharp confrontation between authoritarian countries and democratic countries. It is like deja-vu for those of us who recollect the clashes between Communist countries and the “Free World” after World War II. Authoritarian countries have a nostalgic longing for their glorious past and dream of recovering their former power and territories. The democratic countries try to stop them from invading other countries and promote peaceful coexistence instead. So
May 1, 2024
-
[Mariana Mazzucato, David Eaves] Central banks in a cashless world
Economics has always had a strange and much-debated relationship with money. For a long time, economists -- including Nobel laureates like Merton Miller and Franco Modigliani -- regarded money merely as a medium of exchange. But by building on the work of John Maynard Keynes and Hyman Minsky, economists have since moved beyond a narrow focus on the quantity of money to consider its structural influence on the real economy and the financial system. A structural understanding of money and finance
April 30, 2024
-
[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
Min Hee-jin, CEO of Ador (a subsidiary of Hybe) has accused Hybe and its other subsidiary Belift Labs of plagiarism over the similarity between supergroup NewJeans (Ador) and new girl group Illit (Belift Labs). In turn, Hybe has asked Min Hee-jin to step down and has accused her of “breach of trust” in its press release. To any casual K-pop fan familiar with both groups, there is little doubt that Illit’s sound and choreography is reminiscent of NewJeans. However, many other ne
April 29, 2024
-
[Yoo Choon-sik] What stellar GDP data masks
South Korea's economy expanded at a much faster pace than expected in the first quarter of this year, offering relief to those concerned about the severe slump experienced last year persisting for an extended period. This news is especially welcome for a country still grappling with domestic instability and uncertain global geopolitics. However, beyond the social and political instability at home and longstanding global geopolitics, there are other pressing issues that demand attention: t
April 29, 2024