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[Editorial] Stablecoins, unstable ground
In Seoul’s financial circles, a new image is emerging: a digital coin emblazoned with the South Korean flag, suspended somewhere between statecraft and speculation. Once a fringe idea among cryptocurrency enthusiasts, the notion of a won-backed stablecoin has moved to the center of the country’s monetary policy debate. What appears to be a pragmatic embrace of innovation conceals deeper tensions about the architecture of money, institutional trust and the evolving role of central banks in a digi
July 2, 2025 -
[Editorial] Be consistent
Contrary to the Korean people's expectations for political parties to pursue the politics of integration under a new administration, the ruling Democratic Party of Korea is acting as it pleases. Just one day after President Lee Jae Myung emphasized communication with the opposition in his speech on Thursday, calling for the passage of an extra budget bill, the Democratic Party monopolized the leadership of four major committees. The opposition People Power Party had demanded the National Assembl
July 1, 2025 -
[Editorial] New curbs, old fears
Just 23 days into President Lee Jae Myung’s term, the South Korean government has unveiled its most forceful intervention in years to tame a resurgent property market. On Friday, authorities introduced sweeping restrictions on household borrowing, marking the administration’s first major policy initiative and offering early clues to its governing style. At the core of the package is a strict cap on mortgage lending for property purchases in the capital region. Beginning this week, buyers will be
June 30, 2025 -
[Editorial] Deterrence vs. dialogue
In the uncertain wake of the ceasefire between Israel and Iran — a truce brokered in part by US President Donald Trump’s abrupt decision to enter the conflict — the physical ruins offer more than a lesson in escalation. They reflect a deeper, more enduring question for another tense region: the Korean Peninsula, where policymakers in Seoul are left to assess not triumph but strategic exposure. The 12-day confrontation between Israel and Iran came to a halt not through negotiation but through a d
June 27, 2025 -
[Editorial] Job blues
The employment situation for young people, women and older workers is deteriorating. According to a Federation of Korean Industries report, released on Tuesday, that analyzed employment indices of a 10-year period (2014-2023), employment rates of Korean youth, women and workers over 55 rose somewhat over the time period but they ranked middle or low among 38 member states of the Organization for Economic Cooperation and Development. Korea's youth (aged 15-29) and women (aged 15-64) employment ra
June 26, 2025 -
[Editorial] A pause in the storm
Tensions soared early Sunday as the US launched strikes on key nuclear facilities in Iran. Less than 48 hours later, US President Donald Trump announced a “complete and total” ceasefire between Israel and Iran on social media. The twelve-day conflict in the Middle East, which had threatened to spiral further, now appears to be winding down. Oil prices dipped and global markets edged higher, reflecting a collective sigh of relief from investors and governments alike. For South Korea, the immediat
June 25, 2025 -
[Editorial] Conspicuous absence
President Lee Jae Myung will not attend the NATO summit scheduled for Tuesday and Wednesday in The Hague, Netherlands. The presidential office cited domestic priorities and growing uncertainty in the Middle East. Lee had considered participating in the summit with hopes of meeting US President Donald Trump, but changed his position after the US strikes on nuclear sites in Iran. It is true that uncertainty has increased in the international situation as the US attacked Iran and Iran vowed to reta
June 24, 2025 -
[Editorial] Beyond Kospi rally
On Friday, South Korea’s stock market crossed a threshold it had not seen in more than three years. The main bourse, Kospi, a barometer of investor sentiment as much as economic health, closed at 3,021.84, reclaiming the 3,000 mark for the first time since December 2021. For investors long resigned to an index drifting between 2,200 and 2,800, this was no ordinary trading session. Once the psychological barrier gave way mid-morning, market euphoria carried the index higher, ending a symbolic dro
June 23, 2025 -
[Editorial] Brains before algorithms
South Korea has declared its ambition to become one of the world’s top three powers in artificial intelligence. The goal is bold, the funding substantial: President Lee Jae Myung has pledged 100 trillion won ($72.5 billion) to the sector. Earlier this week, Lee appointed Ha Jung-woo, a respected AI researcher formerly at Naver, as the country’s first senior presidential secretary for AI policy. A sweeping initiative, backed by public and private investment, is beginning to take shape. Alongside
June 20, 2025 -
[Editorial] Raise competitiveness
South Korea's global competitiveness ranking dropped seven notches in 2025. According to the Finance Ministry on Tuesday, the latest report from the International Institute for Management Development showed South Korea ranked 27th among 69 countries surveyed. It was the largest decline since the institute announced South Korea's ranking for the first time in 1997. Last year, South Korea rose eight notches from 28th to a record high of 20th, but in a year, it returned to the level of two years ag
June 19, 2025 -
[Editorial] Israel-Iran conflict
With the fiercest confrontation yet between Israel and Iran underway — and early signs of a shift from escalation to diplomacy — South Korea must remain vigilant to the fast-moving dynamics of the Middle East and their far-reaching impact on the global economy. What began on June 13 as targeted Israeli airstrikes against Iran’s nuclear and military infrastructure has quickly escalated into a conflict of unprecedented intensity. “Operation Rising Lion,” as Israeli officials call it, has struck ke
June 18, 2025 -
[Editorial] Expand supply
The Korean housing market is showing signs of heating up. Last week, Seoul apartment sale prices rose 0.26 percent from the previous week, according to data from the Korea Real Estate Board. It was the highest weekly increase since August last year. Seoul apartment sale prices have moved up for 19 consecutive weeks. The upward trend of apartment prices in parts of Seoul is threatening to spread to areas of nearby Gyeonggi Province with large populations, such as Gwacheon and Bundang. The governm
June 17, 2025 -
[Editorial] From books to breaches
When someone gets their fingers burned not once but twice, it is not innocence but negligence. That warning now stares South Korea in the face, as another major cyberattack lays bare the nation’s deepening digital vulnerabilities. Less than two months after a massive security breach at SK Telecom rattled public confidence, Yes24 — the country’s largest online bookstore and ticketing platform — has become the latest casualty of ransomware. The result: a five-day outage that disrupted the digital
June 16, 2025 -
[Editorial] Opening state doors
With South Korea still recalibrating its democracy after months of political turbulence — capped last week by an early presidential election — President Lee Jae-myung has taken a quietly radical step: opening the gates of government appointments to the public. Now underway and continuing through June 16, the initiative invites South Koreans to recommend candidates for major public posts — not through party pipelines or opaque vetting committees, but via the official website of the Ministry of Pe
June 13, 2025 -
[Editorial] No retaliation in probes
Three bills mandating special counsel probes into allegations involving the administration of former President Yoon Suk Yeol were enacted Tuesday following approval at a Cabinet meeting. One of the bills requires special counsels to investigate insurrection and treason charges related to Yoon's failed declaration of martial law. The second bill calls for a probe into allegations against Yoon's wife, Kim Keon Hee. She allegedly accepted luxury goods as bribes, manipulated stock prices and interve
June 12, 2025