Korea Focus

A Surging Dollar Does Not Necessarily Mean Crisis The U.S. dollar remains strong. It has gained about 20 percent against the currencies of America`s major trading partners during the past six months. There have been no comparable surges in recent memory, except in 1980 and 1995. The surging dollar is a reminder of gloomy events ― financial crises in emerging markets. A soaring dollar was in the backdrop of the debt crises that crushed Latin American countries in the 1980s and the financial crises that hammered Mexico and Asian countries in the 1990s. With the dollar soaring, debt crises swept Latin American countries in the 1980s. The Limits of Politics and Political Science The Year of the Blue Sheep began with a note of uneasiness rather than the usual feelings of joy. The chances are high that the prevailing sense of disappointment stems from Korea’s feeble, even paralyzed, politics... [DEBATE] Fiscal Stability over Welfare Expansion The proposition that welfare can be expanded without tax hikes has naturally led to criticism that it is a pie-in-the-sky idea, given the nation’s fiscal condition. Hence, debate over the feasibility of not increasing... Father’s Tears I Saw for the First Time On February 4, I got a text message from the Korea Student Aid Foundation telling me to confirm my place in the income quintile it had calculated. I could see the exact amount of my father’s monthly income... About the Dreariness of Jongno 3-ga Dansungsa Theater in Jongno 3-ga, central Seoul, opened in 1907 as a performance hall for pansori, traditional Korean narrative song, and was turned into Korea’s first movie theater with the screening of “Fight for Justic... Changes in the Quality of Life of Korea’s Middle Class Korea is expected to soon enter into an era of $30,000 in per capita income, adding to its upward trajectory in wealth since 1990. But the middle class, the most important income strata for stable growth, has been shrinking steadily for decades. This has created a sense of urgency in the government to improve the quality of life among the economy’s main consumers and workforce suppliers. Indeed, there is a wide gulf between the criteria of the middle class as felt by the Korean people and those set by the OECD, with about 55 percent of the nation’s middle class believing they belong to the low-income class. Also, Korea is ranked lowest among OECD member countries when it... North Korean Refugee Marks 60 Years in Show Business On February 8, the blockbuster “Ode to My Father” surpassed 13 million tickets sold, making it Korea’s second-highest grossing film of all time. The movie touchingly retells South Korea’s odyssey from territorial division and devastation to prosperity from the viewpoint of a North... How Did Goryeo’s Faithful Subject End Up in Joseon’s Confucian Shrine? Munmyo is the national Confucian shrine of the Joseon Dynasty (1392-1910), where outstanding sages of China and Korea, including Confucius himself, are honored and venerated. In the Confucian-oriented state of Joseon, Co... Yukari Muraoka: “It’s a Shame That Koreans Have a Low Regard forMakgeolli.” The Sool Gallery, a venue for promoting traditional Korean alcoholic drinks, opened on February 11 in Insa-dong, Seoul. The opening event was attended by Minister of Agriculture, Food and Rural Affairs Lee Dong-phil, who expressed...