As the first words of greeting of 2009 in the March edition of The Yonsei Annals, I would like to offer my congratulations and welcome to the newly accepted freshman students, wishing them a fruitful four years ahead.

While optimism can be felt in the vibrant energy that the newest members of Yonsei have brought, one cannot avoid becoming pessimistic by the misery and despair of the senior students, caused by the global economic turmoil in the past year. Employment rates have fallen and are falling continuously, making it even more difficult for graduates to find employment and, further, a stable future in Korea. It surely seems we have fallen on hard times.

To share and better understand the circumstances in society in these times of hardship, The Yonsei Annals published the March edition with a theme of crisis. In this month's Cover Story, the issue of the new 50,000 won bills being released later this year is dealt with, offering the reasoning and impact that the new note is hoping to bring during economic crisis. Along with this, as the public questions the effectiveness of the liberalized economic structure known as capitalism in times of economic turmoil, the Annals determined the possible effects of liberalizing higher education in Campus Issue. As a Special Report of March, the crisis of "pure academics" is analyzed, hoping to spread the seriousness of the issue with some solutions. Photo Essay introduces the wonders of the traditional Korean musical instrument Gayageum, hoping to reinstate the value of tradition in times of growing pragmatism.

Just as the new Yonseians of 2009 will enter and leave, times of crisis and hardship will also come and go. To overcome such a crisis with more ease, one must first understand it. It is my sincere hope that this month's issue of the Annals will aid Yonseians in this process, not only in terms of economic but also in various other fields.

Kim Kang-rae (Editor-in-Chief)
annals@yonsei.ac.kr

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