[Eric Posner] Trump’s pro-corporate populism

The outpouring of joy on social media after the murder of UnitedHealthcare CEO Brian Thompson suggests that America’s populist moment is evolving into something larger and more significant than just a backlash against the political establishment. If so, it is also becoming something Americans have seen before. In the late 19th century, the People’s Party, also known as the Populists, targeted big business as well as establishment politicians, blaming large enterprises for both dest

Dec. 18, 2024

[Contribution] Leadership vacuum exposes vulnerability to Trump

By Kim Heung-kyu Director of the US-China Policy Institute at Ajou University, President of the Plaza Project President Yoon Suk Yeol’s failed attempt at martial law poses a colossal challenge to Korea-US relations. The Yoon government has most actively accepted the dichotomous foreign policies of democracy versus authoritarianism that the Biden administration proposed in its early period. President Yoon has emphasized freedom and democracy in his speeches whenever he had the opportunity.

Dec. 17, 2024

[Editorial] Worrisome bills

With the nation in political turmoil in the wake of the National Assembly's vote to impeach President Yoon Suk Yeol over his short-lived imposition of martial law, several anti-market, anti-corporate bills the main opposition Democratic Party of Korea has pushed through parliament are raising concerns about a further dampening of business and economic activity. Five bills that passed a plenary session of the Assembly on Nov. 28 pose urgent problems. The bills include a revision to the Act o

Dec. 17, 2024

[Simon Hutagalung] Post-impeachment impact and implications

The impeachment of South Korean President Yoon Suk Yeol signifies a major shift in both domestic and international contexts. This event has disrupted South Korea’s political landscape and has implications for global geopolitical dynamics. Domestically, it has raised concerns over confidence in democratic institutions and intensified political polarization. Internationally, South Korea’s alliances and strategic partnerships may need reevaluation. Yoon’s removal underscores the

Dec. 17, 2024

[Lee Kyong-hee] Martial law and human acts, Seoul 2024

It is remarkable how historic events converge at times into a deep sense of irony. President Yoon Suk Yeol’s self-coup via martial law order was not only ill-conceived, it eclipsed what should have been a week of joyous national celebration of Han Kang, the first Korean to receive the Nobel Prize in literature. Yoon’s rash gambit on Dec. 3 echoed the strong-arming of democracy on another December night 45 years ago when Gen. Chun Doo-hwan and his Army cohorts staged a coup d’et

Dec. 16, 2024

[Editorial] Yoon’s impeachment

President Yoon Suk Yeol was impeached Saturday over his short-lived declaration of martial law on Dec. 3 that plunged the nation into a whirlwind of chaos and outrage. A first impeachment motion fell apart last week because lawmakers from the ruling People Power Party boycotted the vote. The second motion on Saturday, however, passed in a 204-85 vote, with three abstentions and eight invalid votes. It met the quorum of 200 votes in the 300-member parliament. The motion’s passage came 11 da

Dec. 16, 2024

Celebrating Kenya's Independence Day, Korea-Kenya ties

This year, Kenya celebrated two special milestones: 61 years of independence and 60 years of Kenya-Korea diplomatic relations. Kenya attained its independence on the Dec. 12, 1963, and weeks later, Kenya and the Republic of Korea established diplomatic relations on Feb. 7, 1964. With Korea having opened a resident mission in Nairobi, Kenya opened its embassy in Seoul in May 2007. Since then, Seoul has been host to four Kenyan ambassadors. I am honored to be the fourth ambassador, having presente

Dec. 15, 2024

[Robert J. Fouser] Moving toward a Post-Yoon future

December 3, 2024, in South Korea “will live in infamy” as the nation endured the trauma of martial law on the order of President Yoon Suk Yeol. Without offering evidence, Yoon stated the measure was necessary to root out “anti-state” and “pro-North Korean” forces in the government. He failed to notify the National Assembly, as the Constitution requires, and instead sent special forces into the National Assembly building to arrest leading lawmakers. Eventuall

Dec. 13, 2024

[Editorial] Yoon refuses to step down

President Yoon Suk Yeol, who has come under fiery attack since his ill-advised coup attempt on Dec. 3, defended the martial law declaration as an “act of governance” and denied insurrection charges on Thursday. Yoon also pledged to “fight until the last moment” against impeachment or a martial law probe, revealing his intention to defy calls to step down. The president claimed in a televised address that sending troops to the National Assembly under martial law did not co

Dec. 13, 2024

[Wang Son-taek] How the dead save the living?

Han Kang, one of the renowned Korean writers, finally received the 2024 Nobel Prize in literature medal. Not only the writer herself but also all Koreans welcome and honor her. In her special lecture to commemorate the award, she shared some essential questions that left strong impressions on us. Why is the world so violent and painful? At the same time, why is the world so beautiful? If nothing had happened, the story about the Nobel Prize would have been the top news in Korea for over a week.

Dec. 12, 2024

[Kim Seong-kon] How foreigners see Korea’s martial law incident

These days, those of us old enough to remember our history might be forgiven for having a terrible feeling of deja vu. The last time martial law terrified the South Korean people was in 1980, when General Chun Doo-hwan seized power through Korea’s second military coup and crushed the resisting people ruthlessly. Those of us who are over 50 now vividly remember those nightmare days when curfew was imposed, people were arrested without warrant and military tanks and armored vehicles were lou

Dec. 12, 2024

[Eric Planey] Turning point: a people-driven democracy in action

Last Monday night, with a blanket, popcorn and old throw pillows on our laps, my wife Jakyung and I settled into our shared evening couch routine of getting work done on the laptops while re-binging “Emily in Paris” on Netflix for fun and mindless background diversion. My task for that evening was to begin something I hadn’t done since 2018 -- write an op-ed for The Korea Herald. I have been intimately re-studying the economy in Korea for several months -- partially because my

Dec. 12, 2024

[Editorial] Ceaseless offensive

People are worried about turmoil in the wake of President Yoon Suk Yeol's short-lived declaration of martial law. They expect politicians to play a leading role in disentangling the chaos, but such efforts are barely visible, especially in the main opposition Democratic Party of Korea. The party reported a motion to impeach Justice Minister Park Sung-jae and Commissioner General of the Korean National Police Agency Cho Ji-ho during a plenary session of the National Assembly on Tuesday. It p

Dec. 12, 2024

[Shang-Jin Wei] Institutional reforms China needs

The Chinese stock market has rallied recently in anticipation of another round of government stimulus. This is understandable, as the authorities have rolled out multiple monetary and fiscal stimulus packages to stave off deflation and boost GDP growth. But with public debt already well above historical norms, there is limited room for further fiscal intervention without risking a future debt crisis. Given this constraint, China should focus on policies that stimulate entrepreneurship, investmen

Dec. 11, 2024

[Editorial] Economic impact

President Yoon Suk Yeol’s aborted martial law declaration is now hitting the South Korean economy, with local experts churning out dire warnings about the market in general and the sharp depreciation of the Korean currency in particular. Top financial officials are scrambling to reassure investors but the outlook appears to be murky, if not outright disturbing, as long as the political deadlock over the fate of Yoon continues in a way that increases uncertainties about rudderless political

Dec. 11, 2024