This is an editorial from the Korea JoongAng Daily. Korean markets are rattled by the Korean won and stocks tumbling nearly 9 percent this year. A currency value mirrors the strength of economic fundamentals. Currencies around the world have been weakening against a strong U.S. dollar buttressed by a robust economy. Excluding the Japanese yen, the Korean won is the worst performer among currencies of major economies. Korea's stock market is even worse. It is the second weakest performing among global bourses this year, only behind a warring Russia. The main Kospi lost 9 percent and the secondary Kosdaq 21 percent this year. Individuals have deserted their home market, taking their money to the U.S. stock market. Koreans' holding of U.S. stocks jumped more than 50 percent this year to reach 145 trillion won ($104 billion) worth of investments. Investors are groaning about losing their money in the local bourse while paying domestic taxes with returns made off trading their U.S. shares. The Korean stock market tanked after Donald Trump's victory in the Nov. 5 U.S. election. Investors became fretful about the trade-reliant economy as Trump 2.0 is expected to impose higher tariffs on imports from foreign countries and demonstrate stronger protectionism. Trump's second presidency does raise uncertainties, but the bigger reason lies within. Competitiveness in mainstay export items has waned and domestic consumption remains lethargic due to heavy household debt. A dismal birthrate and fast aging have also been eating into Korea's growth potential. Stable economic management in the short term and structural reform to raise long-term growth potential are key to overcoming the headwinds. President Yoon Suk Yeol vowed to correct wealth inequalities while falling short of detailing the funding means as the government ran a fiscal deficit of 91.5 trillion won as of September. A study by the Korea Labor Institute warned of social costs exceeding 100 trillion won, tantamount to 7 percent of the GDP, if the seniority-based pay system is not overhauled. The Korean economy cannot make further strides unless it corrects the pay system. Samsung Electronics announced a plan to buy back 10 trillion won worth treasury shares to prop up its sinking stock price. The move may appeal to shareholders for the time being, but it cannot be a fundamental solution. To restore its reputation, Samsung Electronics must prove its chipmaking edge. The same goes for the economy. Korean shares would be saved from the rout if the government can be trusted for its economic management and reform drive regardless of political strife. The time has come for the government to do what must be done instead of resorting to makeshift measures like banning short selling or abolishing tax on financial income.