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≡ 2 Pending S. Korean WTO Complaints Affected As Appeals Court Comes To Halt
Two of six complaints filed by South Korea at the World Trade Organization are expected to be left pending after the operation of its dispute settlement body came to a halt.
According to the Korea Institute for International Economic Policy, two of the six pending trade disputes will be directly affected by the latest deadlock.
The two cases include a complaint filed against the U.S. over high anti-dumping tariffs and a suit filed by Japan against South Korea on tariffs for stainless steel, the final verdicts of which were scheduled to be delivered next year.
Earlier last week, the WTO Appellate Body shut down as it failed to meet the minimum number of judges required after the U.S. blocked the appointment of new ones.
Washington has been criticizing the role of the WTO dispute body for its excessive power and said it will continue to veto any appointment for judges until its demands are met.■
<Photo: Yonhap News>[2019.12.15]
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≡ Foreign Ministers Meeting Between Seoul, Tokyo In Spain Unlikely To Take Place
A possible one-on-one meeting between the top diplomats of South Korea and Japan on the sidelines of a multilateral gathering in Spain this week is unlikely to take place.
According to Yonhap News, a government official in Seoul said the two sides "have yet to coordinate the schedule despite their willingness to have such a meeting."
Instead, Seoul and Tokyo have been reviewing an option to hold brief talks during the 14th Asia-Europe foreign ministerial meeting set to be held in Madrid for two days from Sunday.
If held, the meeting between Foreign Minister Kang Kyung-wha and her Japanese counterpart, Toshimitsu Motegi is expected to serve as a chance for the two countries to explore ways to resolve their conflicts over trade and historical disputes.■
<Photo: Yonhap News>[2019.12.15]
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≡ S. Korea Adds 280,000 New Jobs This Year To Exceed Target
The number of the newly employed is expected to surpass the government's target this year as it has already seen a threefold increase on-year.
According to Statistics Korea, the number of people with new jobs from January to November rose by 281,000 compared to the same period a year ago.
The surge came largely due to the increase in jobs for people in their 60s and older, which rose by 120,000 on-year.
In contrast, the number of newly employed in their 30s and 40s shrank by 58,000 and 165,000, respectively.
The government raised its target number of employed workers from 150,000 to 200,000 in July when it released its economic policy guideline for the second half.
The government has vowed active support to improve job market conditions next year as the proportion of the productive age population is forecast to decline further.■
<Photo: Yonhap News>[2019.12.15]
