(EDITORIAL from the JoongAng Daily on Jan. 1)

Extraordinary times

This year will be an extraordinary year. Twelve months ago, we were in high
spirits, marking the historic 60th anniversary of the founding of the Republic of
Korea and a new leader was at the forefront of leading the nation. Hope was in
the air. Less than one year later, a harsh winter has begun for us following the
global economic turmoil.
We have faced crises in the past. There were security and economic emergencies in
the 1960s and 1970s, and the economy collapsed in the aftermath of the 1998
financial crisis. However, these events had a temporary impact on only certain
sections of society. The current crisis is truly new, a very different animal. It
has engulfed the whole world. Koreans alone cannot resolve the crisis, making the
future all the more perilous.
In 2009, Korea will be plagued by the following five pains: low economic growth,
export reduction, bankruptcy, higher unemployment and shrinking household
spending.
Korea might well have to face up to negative growth, like in many other
countries. The economies of the United States, Europe, China and Japan, which
have been the major export markets for Korea, are shrinking faster than at first
thought. Companies will tumble into bankruptcy one after the other from early
this year and the rate of unemployment will climb ever higher, bringing misery to
families. Many people in the middle-income classes will suddenly find themselves
straining to ward off poverty.
Only dreamers will be able to deny the reality. A painful time is approaching.
So, what should we do? How will we extract ourselves from the swamp, and which
way should we head if we do?
Leadership should play a pivotal role in helping the country recover from the
crisis. We can already see that developed countries are forging closer ties, led
by Barack Obama, Hu Jintao and Nicolas Sarkozy, while Korea faces turbulent times
in leadership. The ruling party has become just a figurehead due to the lack of
leadership, and the opposition parties remain a careless force.
Politics should be a fountain of wisdom in society. Without a fully functioning
political base, we won???t be able to reinvigorate the economy and recover from
this crisis. The president is determined to work hard to resolve these
challenging issues, and it is time for us to go out and bat for him. We need to
dig deep and offer everything we can.
The government and the people should brace themselves to play their roles
professionally. We should first strap ourselves in, weather the turbulence and
look for a safe place to land. We have to minimize the pain and explore measures
for long-term rehabilitation. The government should explore every possibility,
including finance, taxes and deregulation, or we will crash badly.
Private individual support is a prerequisite in encouraging the government to
carry out its role. Just like a family sticks together in times of trouble, it is
essential that management cooperates with its workers and that we don???t suffer
labor relations conflicts as well. The urgent situation confronting us all is
serving as an excellent opportunity to correct the distorted labor-management
culture. The new labor-management culture is an integral part of ensuring that
global capital returns to Korea.
2009 should be the year for yielding tangible results in South-North Korean
relations. In principle, we are supposed to be trying to denuclearize North Korea
and strike a balance between what to give and what not to give Pyongyang. In
reality, the foremost task facing us is to encourage the North to sit at the
negotiating table and peacefully manage a variety of exchange programs such as
the Mount Kumgang tourism project and Kaesong Industrial Complex. The government
should accept agreements forged at the inter-Korean summit talks and strive to
persuade the North to better appreciate the projects between the two Koreas.
The election of Barack Obama heralds a new chapter in the already close
Korea-U.S. partnership. President Lee should act quickly to form friendly ties
with Obama as soon as possible. If the Obama administration is poised to have
direct communications with the North, Korea should have no reason to refuse.
However, cooperation between Korea and the U.S. should provide a firm foundation.

An awkward issue may arise with the Obama administration. The U.S. may ask Korea
to renegotiate the Korea-U.S. Free Trade Agreement or dispatch Korean troops to
Afghanistan. Our government will have to work hard to ensure that any deals
struck between Korea and the U.S. don???t stimulate anti-U.S. sentiment. Last
year we saw just how painful this kind of response to the U.S. can be to Korean
society.
The economic crisis shouldn???t prevent us from working to install a farsighted
national policy on education. The government should be firmly resolved to
establish education policies rooted in self-discipline and competition. It should
implement its education measures by focusing on diversity so that universities
can enjoy more self-regulation and private high schools can flourish.
The Korean Federation of Teachers and Educational Workers Union led by a new
chair should stop assuming an aggressive attitude and deliberate on alternative
measures designed for schools.
In a year, the JoongAng Ilbo will write an editorial summarizing how Korea
responded to the challenges of the economic crisis and how ordinary people
reacted to these extraordinary times. Let???s hope that we can pull together as
one and make 2009 memorable for one thing: our efforts to recover.
(END)