It is like peeling an onion. The scandal that centered on President Park Geun-hye’s longtime associate Choi Soon-sil is turning up one new allegation after another day by day. What’s distressing is that many of the allegations sound plausible and thus will likely agitate the political community further at a time when the nation faces a plethora of daunting challenges, including North Korea’s nuclear threat to the slowdown of the economy. As a matter of fact, many, including this paper, expected

Editorial Oct. 21, 2016

The scandal surrounding the two nonprofit foundations allegedly established under the patronage of people close to President Park Geun-hye tells us that the government in power still bullies conglomerates. 　 Both Park’s Blue House and the Federation of Korean Industries -- the lobby for big businesses -- deny allegations that members of the president’s inner circle were behind the establishment of the Mir and K-Sports foundations.It may take some time before we come to know whether they are tell

Editorial Oct. 7, 2016

The local financial market is about to see a big bang in commercial banking thanks to the emergence of fintech, which refers to the convergence of finance and technology.Like major developed countries, information technology-based financial services are still unfamiliar to most Korean consumers as the infrastructure has yet to be established in the country.However, when market share competition starts, the speed of innovative financial products’ penetration into ordinary consumers’ daily lives m

Editorial Sept. 23, 2016

More Korean households are taking additional loans from financial firms to secure cash to buy basic necessities or pay back maturing debt.Despite measures by financial authorities, it has not been easy to break out of the vicious circle in which debt is yielding more debt among a large proportion of households.The gravity of the situation lies in that snowballing consumer debt is a key factor hampering the nation’s growth potential. Its significance is evident when the growth of the nation’s gro

Editorial Sept. 9, 2016

It is commendable that Japanese Prime Minister Shinzo Abe portrayed North Korea’s recent ballistic missile provocations as “indescribable violence.” He reiterated the significance of bilateral coordination against the communist regime’s saber-rattling.Abe seemingly turning up the heat on Pyongyang came during his summit with President Park Geun-hye in Laos earlier this week.It is desirable for the two sides to map out detailed ways for closer collaboration as the North’s latest missile tests thr

Editorial Sept. 9, 2016

The astounding gender discrimination case at the liquor-maker Kumbokju should remind all -- labor and rights officials, civic groups as well as law-enforcement authorities -- that South Korea still has a long way to go to get rid of this social ill. The Daegu-based distiller had shocked the nation in March when one of its female workers filed a petition with authorities over the company’s pressure on her to quit because she was getting married. The petition prompted an investigation by labor off

Editorial Aug. 26, 2016

The government’s decision to put off its verdict on Google’s request to allow the transfer of Korean digital map data to its overseas servers illustrates the tricky nature of the issue. A pan-government committee reviewing the case said that it needed more time to discuss the issue -- among government officials and with Google -- and it plans to make a final decision in November this year. Indeed, providing the global tech giant unlimited access to Korea’s digital map data is a complicated matte

Editorial Aug. 26, 2016

Standard & Poor’s has raised Korea’s sovereign rating by one notch to AA from AA-. The upgrade is surely welcome news, but it should not lead to complacency.　The rating S&P awarded to Korea, which is the third highest on the agency’s rating table, is a record high for Korea. It is equivalent to the Aa2 rating that Moody’s Investors Service gave Korea in December 2015.　The upgrade places Korea on the same level as the United Kingdom, France and Belgium, and two levels higher than Japan. Only six

Editorial Aug. 12, 2016

The government is pushing to enact a law aimed at preventing the national debt from rising too rapidly. The move is well advised, as fiscal principles need to be set in stone if they are to be strictly followed.A draft bill disclosed by the Finance Ministry proposes to make it a rule for the central government to keep its debt below 45 percent of gross domestic product.It also proposes to set the ceiling for annual budget deficit at 3 percent of GDP. The ministry’s proposal also includes the pay

Editorial Aug. 12, 2016

At the Gwangju Universiade which closes its 12-day run on July 14, a swimmer claimed four gold medals and an artistic gymnast hauled six medals. In addition, an archer established a new world record, while a female sprinter won both 100m and 200m for the first time in 28 years.Shannon VreelandSwimmer Shannon Vreeland from the United States clinched four golds in the women’s 100m freestyle, 200m freestyle, 4x100 freestyle relay and 4x200 freestyle relay.Aside from the four victories, she took a b

More Sports July 15, 2015

Some athletes at the Gwangju Universiade have moved spectators and other athletes with their indomitable spirit.They’ve overcome personal obstacles to represent their countries in international sports events -- with diseases, poverty or nationality problems not stopping them from giving stellar performances.Thomas Van der Plaetsen, star decathlete of Belgium; Fallon Forde, sprinter of Barbados; In Kyo-don, taekwondo player of the Republic of Korea; and Simon Andrew Capon, foil fencer of Australi

More Sports July 13, 2015

Gwangju college students aspiring to be flight attendants are presenting medals to the athletes taking the winning podium at the Gwangju Universiade, demonstrating their commitment to the city that is holding its biggest international sporting event.About 200 students from Kwangju Women’s University carry gold, silver and bronze prizes at the medal presentation throughout the event. They come from the Airline Service Department, an academic course where students are trained and learn to become a

More Sports July 12, 2015

Gwangju is reshaping itself into the cultural hub of Asia. Korea launched a 5.3 trillion won ($4.8 billion) project -- the single largest cultural project in modern Korean history -- in 2004 to turn the city into a hub by 2023.The state project began with the late President Roh Moo-hyun’s election pledge in 2002 to develop both cities and provinces in a balanced way. Later, a special law was legislated to carry out the pledge. The project envisions Gwangju as a platform on which Asian countries

More Sports July 11, 2015