[Editorial] Ramyeon, reality and reform

Just days into his presidency, Lee Jae-myung has found himself facing an unlikely but potent symbol of economic distress: the cost of ramyeon. “Is it true,” he asked during an emergency economic meeting on Monday, “that one packet now costs 2,000 won ($1.50)?” The figure was exaggerated, but the sentiment behind the question struck a nerve. For many South Koreans, the supermarket has become the front line in a broader struggle over living costs and public trust in government. Consumer prices hav

June 11, 2025

[Editorial] Build confidence

President Lee Jae-myung will attend the summit of the Group of Seven advanced countries in Alberta, Canada, from June 15-17. It will mark Lee's debut on the stage of summit diplomacy 11 days after he took office Wednesday. South Korea is not a G7 member state but was invited to participate as an observer. The summit is an opportunity for Lee to start building confidence with leaders of the seven major countries -- Canada, France, Germany, Italy, Japan, the UK and the US. Particularly, his first

June 10, 2025

[Editorial] Avoiding the Japan trap

In the early 1990s, Japan seemed unstoppable. Decades of breakneck growth had swelled its asset wealth, and many believed the good times would never end. Then came the crash. A bursting real estate bubble ushered in what would become Japan’s “lost decades” — a prolonged era of stagnation and disillusionment. Today, a similar unease hangs over South Korea. Just days into office, President Lee Jae-myung faces a stark warning from the Bank of Korea: Without sweeping reforms, the country risks sleep

June 9, 2025

[Editorial] Bridge divisions

Lee Jae-myung of the liberal Democratic Party of Korea was elected president on Tuesday, ending six months of turmoil stemming from his predecessor's botched attempt to impose martial law on Dec. 3, 2024. While South Korea has been embroiled in its own political chaos, the international situation and trade scene changed rapidly. Donald Trump was inaugurated as the president of the United States and US-China relations soured. The US, warning of a potential Chinese invasion of Taiwan, has indicate

June 5, 2025