[Editorial] Still ambiguous

Last week, the Ministry of Employment and Labor released interpretive guidelines for the revised Trade Union and Labor Relations Act, commonly known as the Yellow Envelope Act. Although presented as a way to prevent confusion in workplaces, the guidelines are broad and vague, heightening concerns that disputes over key provisions will inevitably be litigated. Fundamentally, the guidelines contain inherent flaws. The Yellow Envelope Act itself ambiguously broadens the definition of “employer” to

Dec. 30, 2025

[Editorial] Imported inflation

For years, Koreans were told that a weak won was tolerable, even useful. It boosted exports, padded earnings and bought time for growth. That paradigm has reached its limit. The brief surge toward 1,480 won per dollar last week did more than rattle markets; it signaled a fundamental erosion of the benefits once associated with a weak currency. On paper, the recent pullback looks reassuring. After forceful government action, the won retreated to the mid-1,440 range. Yet averages present a more au

Dec. 29, 2025

[Editorial] Seoul’s supply cliff

Seoul is approaching 2026 with an unsettling contradiction. Home prices in the capital are projected to rise 4.2 percent next year, while “jeonse” rents climb an even faster 4.7 percent. This is unfolding as the national economy is expected to grow at barely half that pace. The disconnect is already visible in the data. The Bank of Korea’s housing market risk index for Seoul has climbed to 0.90, the highest level since the index was introduced in 2018. When prices accelerate as growth slows, mar

Dec. 26, 2025

[Editorial] Widening gap

A recent study found that manufacturing wages in Korea far exceed those in Japan and Taiwan. About a decade ago, the differences were marginal, but the gap has widened markedly. When comparing the annual wages of regular full-time workers, Korea outpaced Japan and Taiwan. The gap is especially stark in manufacturing — a point that merits close attention. Japan and Taiwan are Korea's strong rivals in the manufacturing sector. Low productivity has long been cited as a chronic problem among Korean

Dec. 25, 2025

[Editorial] The Blue House paradox

A presidency that once promised openness believed that walls could do the work of will. Three years and seven months later, South Korea has learned that architecture does not govern power. Leadership does. On Monday, President Lee Jae Myung’s administration formally closed the Yongsan chapter and reentered the Blue House complex, ending an experiment born of impatience and concluded in trauma. What began as a pledge to escape the isolation of a “secret palace” ended amid administrative disorder,

Dec. 24, 2025

[Editorial] Unsettling stance

President Lee Jae Myung said Friday that the two Koreas, having once merely postured as enemies, now seem to be becoming real ones, blaming the change on an unnecessary “power-against-power” policy. The remarks made clear his belief that inter-Korean hostility was caused by the previous Yoon Suk Yeol administration’s hardline North Korea policy, while signaling his intention to shift toward appeasement of the North. At a joint briefing by the Ministries of Unification and Foreign Affairs, Lee in

Dec. 23, 2025

[Editorial] The won’s mirror

Currencies are often described as barometers. The Korean won, however, is better understood as a mirror. It reflects not only trade flows and interest rates, but also how global capital appraises the country’s economic future. By that measure, the image is increasingly uncomfortable. The won has been hovering near 1,480 per US dollar, brushing against the psychological red line of 1,500, despite a current account surplus of roughly $90 billion through November. The problem is not panic; it is pe

Dec. 22, 2025

[Editorial] Time to shift gears

For much of the past decade, the global car industry has been hurtling down a single-track road toward a purely electric future. The destination once seemed fixed. It was a total ban on the internal combustion engine by 2035, a date that came to resemble a high-speed deadline for the end of the petroleum age. Now, however, the lead car in this race is tapping the brakes. The European Union’s recent signal that it may revise its landmark 2035 ban is more than a technical correction. It marks a sh

Dec. 19, 2025

[Editorial] Policy rift

South Korea and the United States on Tuesday held "ROK-US Consultations on Joint Fact Sheet Implementation." ROK stands for Republic of Korea, which is the official name for South Korea. The consultations were follow-up discussions for coordination on the two countries' North Korea policy based on the recently released South Korea-US summit joint fact sheet. However, officials from South Korea’s Ministry of Unification handling inter-Korean affairs did not attend. The Ministry of Foreign Affairs

Dec. 18, 2025

[Editorial] AI tightrope

The race to regulate artificial intelligence is often framed as a contest of speed. And South Korea appears determined to win it. Next month, the country will begin enforcing a comprehensive AI law while other major economies hesitate or retrench. That decision gives Seoul a form of leadership, but also raises an uncomfortable question: Is moving first an advantage when the rules themselves remain unsettled? The contrast from Europe is telling. The European Union passed the world’s first sweepin

Dec. 17, 2025

[Editorial] Sustain readiness

Gen. Xavier Brunson, commander of US Forces Korea and Combined Forces Command, stressed the importance of South Korea-US joint military exercises. During a Zoom webinar on Friday, jointly organized by the Korea Defense Veterans Association and the Korea-US Alliance Foundation, Brunson said the combined South Korea-US drills are essential to defending the Korean Peninsula. He argued that peace is preserved by the allies' ability to maintain readiness and that the joint exercises form the cornerst

Dec. 16, 2025

[Editorial] The invisible generation

South Korea’s most troubling jobs problem is hiding in plain sight. By the headline figures, the labor market appears robust. Employment rates have reached record highs. The jobless rate sits near what economists would regard as full employment. Yet beneath this reassuring surface, a quiet erosion is unfolding. For 19 consecutive months, youth employment has declined. The economy is creating jobs, just not for the generation expected to sustain it. This is not a cyclical dip or a passing mismatc

Dec. 15, 2025

[Editorial] High-stakes chip pivot

South Korea has mastered the art of building what the world designs. The question now is whether it can design what the world will need next. The artificial intelligence strategy Seoul unveiled on Wednesday reflects a country trying to pivot from manufacturing excellence to technological leadership. Korea’s traditional strengths remain formidable: world-class fabrication, globally competitive memory production and the industrial discipline that turned midtier conglomerates into global powerhouse

Dec. 12, 2025

[Editorial] The elusive founder

The Science, ICT, Broadcasting and Communications Committee of the National Assembly will hold a hearing on Coupang’s massive leak of customers' personal data next Wednesday. Several individuals were named as key witnesses. They include Chair Kim Bom-suk, the Coupang founder and de facto owner also known as Bom Kim; former Coupang Corp. CEO Park Dae-jun; and Kang Han-seung, head of the e-commerce giant’s North American operations. However, it is unclear whether Kim will attend. Whenever legislat

Dec. 11, 2025

[Editorial] Nuclear void

The most consequential diplomatic signal this month came in the form of what was omitted. This conspicuous silence descended upon the security strategies of the world’s two superpowers regarding the Korean Peninsula. On Dec. 5, the US administration released its new National Security Strategy, a document outlining the trajectory of American foreign policy. In a significant shift, the text contained zero references to North Korea or the goal of denuclearization. Beijing mirrored this omission jus

Dec. 10, 2025