Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
[Editorial] A Bad Day for Europe
This was never supposed to happen. Three years ago, when U.K. Prime Minister David Cameron promised his country a referendum on remaining a member of the European Union, he was sure of victory. The country had other ideas. On Thursday Britain voted to quit.It’s a momentous choice -- and not in a good way. The immediate risk to Britain’s economy is grave, because the vote creates enormous uncertainty. This is likely to persist for months, until it becomes clear what kind of new trading rules will
Viewpoints June 24, 2016
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[Mark Gilbert] Revenge wrong response to Brexit
The U.K. has voted for the “most expensive divorce proceeding in the history of the world,” in the words of U.S. billionaire Wilbur Ross, with BBC projections showing voters backed “Leave” by 52 percent to 48 percent. The challenge facing both Britain and its newly ditched European partners now is to ensure that the separation doesn’t deteriorate into acrimony and revenge. The EU should regard the referendum result as a wake-up call. Discontent with how the bloc operates isn’t restricted to Brit
Viewpoints June 24, 2016
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[Editorial] New speaker
Lawmakers of the 20th National Assembly have completed the election of the new parliamentary leadership with unprecedented swiftness, showing their resolve to make the new Assembly different from previous ones. On Thursday, they picked Rep. Chung Sye-kyun of the main opposition The Minjoo Party of Korea as the new speaker, while electing Rep. Shim Jae-chul of the ruling Saenuri Party and Rep. Park Joo-sun of the minor opposition People’s Party as vice speakers.The election of the new leadership
Editorial June 10, 2016
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[Editorial] Rehabilitation plans
The government has finally unveiled a plan to restructure the nation’s ailing shipbuilding and shipping industries. The scheme, announced Wednesday, calls for creating an 11 trillion won ($9.5 billion) fund to recapitalize the two state-run banks, the Korea Development Bank and the Export-Import Bank of Korea, which are heavily exposed to the two sectors.The main contributor to the fund is the Bank of Korea, which will provide 10 trillion won in the form of a loan to the government. The Industri
Editorial June 10, 2016
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[David Ignatius] The Omani back channel to Iran
One of the mysteries of Campaign 2016 is why the Iran nuclear deal has vanished as an issue. But a new book reveals some startling details about how the diplomacy with Tehran began in secret, long before reformers took power there, and the crucial role played by presumptive Democratic presidential nominee Hillary Clinton.The diplomatic narrative is laid out in “Alter Egos,” by New York Times White House correspondent Mark Landler. He’s the first to disclose the full extent of the Omani “back cha
Viewpoints June 10, 2016
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[Rachel Marsden] High-tech companies should invest in education, not immigration
Did you know that the multinational corporation Airbus Group has its own high school in France? It‘s one of the few private vocational schools left in the country. Why aren’t more high-tech industrial corporations running schools? Although such institutions aren’t without controversy, their proliferation could be the key to winning the global economic competition.Located in Toulouse not far from Airbus headquarters, Lycee Airbus selects students 15 to 18 years old based on written and oral admis
Viewpoints June 10, 2016
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[Editorial] Language education
South Korea is set to diversify its foreign language education at schools under a law on special language education promotion.As the Education Ministry has stated, it is welcome to see that the nation is seeking to modify the current situation in which Koreans have excessively engaged in learning English over the past decades. The second most popularly learned foreign language at colleges and private institutes was Japanese formerly, and is Chinese presently.The ministry said it will provide uni
Editorial June 5, 2016
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[Editorial] Gas price rebound
Retail oil prices recently reached their highest so far this year in Korea amid a rapid bounce-back in international crude prices.Gasoline prices have surpassed the former 2016 record of 1,406.72 won ($1.18) per liter, which was recorded on Jan. 1, after hitting the bottom of 1,339.51 won in early March. Diesel prices have also posted a V-type rebound to break the 1,200-won barrier.The domestic prices growth reflects an about 90 percent jump in crude prices within just three to four months. Desp
Editorial June 5, 2016
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[Editorial] What the death of a gorilla tells us about ... us
The shooting of Harambe the gorilla to save a 3-year-old boy who’d fallen into an enclosure at the Cincinnati Zoo whipped the Internet into a frenzy. The boy’s mother has been branded a terrible parent and authorities are investigating the incident and the zoo.We’re not here to referee Web flaming or to second-guess zookeepers’ actions. Let’s turn the scope around and examine a deeper — and healthier — theme: The intense public outcry over this killing reflects a broad shift in public attitudes
Viewpoints June 5, 2016
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[Noah Smith] What causes big recessions?
There is an important, but quiet debate in the economics profession about what leads to big recessions: wealth or debt.Almost everyone agrees, at this point, that the Great Recession of 2007-09 was caused by the financial system. But that leaves the question of what, exactly, happens in a financial system that leads an economy to crash. Formal economic models of financial shocks are not very realistic. They usually assume the harm comes from disruption to the banking system, which acts like a su
Viewpoints June 5, 2016
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[Editorial] Diesel price hike
International crude prices have reached nearly $50 a barrel, gaining about 100 percent in about four months. Though the prices may shift downward again amid the supply glut, few will deny that oil prices hit bottom in the first quarter.The simultaneous rebound in gasoline and diesel prices is not good news for ordinary car drivers in Korea.Amid concerns over higher fuel costs, the Environment Ministry is also pushing for hikes in the retail diesel price as part of its efforts to improve the envi
Editorial May 27, 2016
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[Editorial] Alarming debt growth
South Korea’s rapidly climbing household debt is a key factor hampering the nation’s growth potential.Its significance is evident when we compare the growth of the nation’s gross domestic product and collective household debt in the first quarter. While GDP inched up 2.7 percent on-year during the first three months, the nation’s household debt surged 11.4 percent on-year, or 125.5 trillion won ($106 billion), to reach 1.223 quadrillion won.Korea’s household debt is fast approaching its annual G
Editorial May 27, 2016
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[Rachel Marsden] Time to shove ‘free love’ generation out the door
The leftists who came of age in the counterculture revolutionary movements of the ’60s and ’70s are now in charge in both Europe and the U.S., and facing a populist backlash. They failed to learn the lessons of their own experiences, and it’s time for them to be dropkicked into the waste bin of history.In the wake of World War II and the defeat of Nazi Germany, there was a massive movement in Western nations against anything that smacked of authority. At first it was more social than political.I
Viewpoints May 27, 2016
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[Doyle McManus] Polls have Democrats in panic
Democrats hoped this presidential election would be a cakewalk. In their eyes, the presumptive Republican nominee, Donald Trump, spent most of the spring alienating big chunks of the electorate, beginning with women. Meanwhile, the presumptive Democratic candidate, Hillary Clinton, has run a careful, well-funded, well-honed campaign. What could go wrong?And yet, in a spate of reputable surveys Trump has suddenly erased the advantage Clinton had held all year. The average of major polls compiled
Viewpoints May 27, 2016
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[Editorial] Snowballing scandal
As anticipated, the case involving cosmetics firm Nature Republic’s CEO Jung Woon-ho is growing into a major corruption scandal that threatens to implicate incumbent prosecutors and judges.At the center of the case are allegations that Jung attempted -- through the help of lawyers and middle men -- to buy the influence of prosecutors and judges to get a lighter punishment for his illegal gambling charges.The scandal has already put a senior-judge-turned-lawyer into custody and forced a senior ju
Editorial May 13, 2016
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