“$350 Billion Cash Investment: Approval Would Have Meant Impeachment.”.

• These were the words of Lee Jae-Myung (President) in an interview with Time.
• He suggested that the remark about transferring ownership of the Pyeongtaek base was likely a joke.
• The interview article was headlined “President Lee Jae-Myung’s Plan to Reboot South Korea.”
• Related Link.

“Nobel Peace Prize? No One Like Trump.”.

• “If there is concrete progress,” he added a caveat, “but there is no one else who deserves the prize.”
• North Korea possesses at least 50 nuclear bombs and could increase its stockpile by 10–20 annually.
• Lee Jae-Myung categorized North Korea’s denuclearization into short-, medium-, and long-term goals: halting the nuclear program in the short term, with some compensation required; moving toward disarmament and complete denuclearization in the long term.
• “Sometimes there is a conflict between what is right and what is beneficial,” he emphasized, “but the choice is not all-or-nothing—there is a middle ground.”

Mon-Tues-Wed-Thurs-Sat-Sat-Sun: The Dream of a 4.5-Day Workweek.

• The government has allocated a budget of 32.4 billion won and is pushing forward with the Work-Life Balance+4.5 Project.
• It plans to provide subsidies to companies that adopt a 4.5-day workweek and additional support funds to those that create new jobs by reducing working hours.
• The core goal is to bring working hours down to OECD levels.

What Matters Now.

AI-Generated Voice at the Center of Cho Hee-dae-Han Deok-soo Controversy.

• Even after Open Mind TV announced that the file was AI-generated rather than an actual recording, the audio may have circulated and been misinterpreted.
• Park Min-young (People Power Party spokesperson) criticized, “Did they bring AI-generated audio from YouTube as a whistleblower’s transcript and demand the Chief Justice’s resignation?”
• Seo Young-kyo (Democratic Party lawmaker) stated, “We simply raised questions based on the information we received.”
• In an editorial, Kyunghyang Shinmun warned, “Jeong Cheong-rae should refrain from political pressure campaigns against the judiciary using unverified information,” adding, “A misguided debate over the Chief Justice’s fate could distract from judicial reform, prosecutorial reform, and media reform discussions.”
• Related Link.
• Related Link.

“If You’re Wronged, Face the Investigation.”.

• These were the words of Lee Jae-Myung (Democratic Party leader).
• Kyunghyang Shinmun pointed out that the judiciary has invited suspicion and distrust. First, Judge Ji Gwi-yeon (Seoul Central District Court) sparked massive controversy by overturning Yoon Suk-yeol’s detention decision. Second, the rushed remand of Lee Jae-Myung’s election law violation case also raised eyebrows.
• The judiciary has yet to release ethics audit results regarding Judge Ji’s alleged hostess bar entertainment scandal.
• Yeo Yeon-sim (lawyer) noted, “The public questions the court’s unusual decisions, yet the judiciary appears to lack constructive discourse or self-correction, which only invites more criticism.”
• In an editorial, The Hankyoreh emphasized, “The judiciary must first provide accountable explanations and apologies for the key issues that have eroded public trust.”
• Related Link.

Too Little, Too Late: Support for Sedition Trials.

• The court plans to allocate additional judges to the sedition trial division and reduce case assignments elsewhere.
• The move appears to address criticism over the controversial sedition special tribunal.
• Lee Sung-yoon (Democratic Party lawmaker) and others have separately proposed a bill to establish three special prosecutor-dedicated trial divisions.
• The difference lies in excluding the National Assembly from recommending candidates, instead delegating this role to judicial councils and the Korean Bar Association.

Deep Dive.

Lee Jae-Myung’s Investment Report Card as a Retail Investor.

• Over four months in office, he invested 4.4 million won in total, 400,000 won at a time across 11 transactions, in ETFs (exchange-traded funds).
• The unrealized gain stands at 1.16 million won, with a 26.4% return rate.
• At a meeting with securities firm research center directors, he remarked, “I’ll make sure the phrase ‘return to the Korean stock market is in order of intelligence’ becomes a reality.”

2.97 Million Lotte Card Customers’ Data Stolen.

• 280,000 had passwords and CVC (security codes) exposed.
• Cho Gwajin (Lotte Card CEO) held a press conference and said, “I will take responsibility and fully compensate for all damages.”
• The initial server hack occurred on August 14. The malware infection was first detected on August 26—meaning the breach went unnoticed for nearly two weeks as data was siphoned off. The Financial Supervisory Service was notified on September 1.

MBK Partners Again.

• MBK Partners, the largest shareholder of Lotte Card, has also faced criticism for its significant responsibility. After acquiring an 80% stake for 1.38 trillion won in 2019, it has been pushing for a sale since the following year.
• Lee Chan-jin (Financial Supervisory Service Governor) stated, “They should reflect on whether their focus on short-term performance through cost-cutting came at the expense of security investments.”
• Homeplus, acquired by MBK Partners in 2015, has entered court receivership. Its debt ratio exceeds 3,000%.
• Nepa, acquired by MBK Partners for 1 trillion won in 2013, turned to losses in 2023. Its financial structure deteriorated after taking on 480 billion won in acquisition financing.
• Critics have long argued that MBK’s leveraged buyouts rely on excessive leverage and short-term performance-driven management, undermining growth potential.
• Related Link.

Han Hak-Ja Admits to Giving “Lunar New Year Money” to Kweon Seong-Dong.

• The special prosecutor has requested an arrest warrant.
• Han Hak-Ja (Unification Church leader) faces four charges: First, giving 100 million won to Kweon Seong-Dong (People Power Party lawmaker); second, handing a necklace and bag to Kim Keon-Hee; third, embezzlement via misuse of Unification Church foundation funds; fourth, allegedly ordering destruction of accounting records and other evidence.
• She admitted to giving 1 million won as “lunar new year money” but denied the 100 million won allegation.

Silk-Wrapped Envelope Bore the Character ‘King’.

• The 100 million won Yoon Young-ho (then Unification Church head) handed to Kweon Seong-Dong in January 2022 was likely addressed to Yoon Suk-yeol.
• The cash was placed in a paper box—two 50 million won bundles, each wrapped in silk with tassels. One bore the character ‘王’ (king) embroidered on it.
• Yoon Young-ho told the special prosecutor, “The purpose was to assist in the presidential election.”
• Related Link.

Another Take.

Yoon’s Custody Cancellation: “Even Now, a ‘Regular Appeal’ Is Needed.”.

• This is the argument of Moon Hyung-bae (former Acting Chief Justice of the Constitutional Court).
• Yoon Suk-yeol was released and then re-arrested, but the original decision to cancel his detention by Judge Ji Gwi-yeon should not have been overlooked.
• Judge Ji Gwi-yeon sparked massive controversy by releasing Yoon, arguing that detention periods should be calculated by the hour, not the day.
• Moon Hyung-bae proposed, “It would be better to file a regular appeal even now, allowing higher courts to review whether the decision should be corrected.”

Major Corporations Respond to Presidential Call for 30,000 New Hires.

• Major conglomerates including Samsung, SK, and Hyundai Motor Group have stepped forward.
• Samsung Group pledged to hire 60,000 people over five years, while SK Group announced 4,000 new hires in the second half alone. POSCO will hire 15,000 over five years, and Hanwha plans 3,500 new positions in the second half.
• Youth employment numbers have declined for 16 consecutive months.

The Fed’s Calculated Dilemma.

• The U.S. has cut interest rates amid the highest inflationary pressure in 30 years.
• The U.S. is not in a desperate situation requiring rate cuts. The move was preemptive despite decent economic conditions.
• The Federal Open Market Committee (FOMC) minutes reveal the Federal Reserve’s complex deliberations.
• In June, the labor market was deemed “solid,” but by September, it had “slowed.” The term “risk-management cut” also stands out.
• The FOMC dot plot shows one member pushing aggressively for rate cuts—likely Steve Moore (Fed Governor, former White House Economic Advisor Chair), Trump’s appointee. Trump insists rates must fall to 2.25–2.5%.
• Most forecasts suggest sustained aggressive cuts are unlikely. Inflation risks remain high. Immigrant inflows have halted, and weak demand prevents companies from passing tariffs to consumers.

“Trump’s Fed.”.

• The Wall Street Journal criticized in strong terms.
• “Good luck. Maybe everything will work out. Inflation might fall after a brief price surge from tariffs, the economy could boom despite tariffs and looming labor shortages, the housing market might enter a new golden age, and financial markets could blissfully race toward an AI-driven collapse.”
• “But if Trump is wrong, voters will realize persistent inflation and stagnant real wage growth. Having staked so much on political attacks against the Fed, Trump must now bear responsibility for the outcome—good or bad.”
• Related Link.

‘King Whale’ Turns Out to Be Just 6% Gas Saturated.

• Conclusions show it falls far short of the 40% threshold.
• According to the Korea National Oil Corporation, detailed analysis of the East Sea Block 8 and Block 6-1 revealed low economic viability. Gas saturation is considered economically viable only above 40%.
• The project’s 120 billion won investment is now at risk of being completely wasted.
• Related Link.

Failed Suicide After Child Slaying: 40% Receive Suspended Sentences.

• Hankook Ilbo analyzed 147 cases over the past 12 years. Sentences under three years were 11 cases; 3–5 years were 18 cases.
• Hong Young-o (Senior Researcher, Korean Institute of Criminology and Justice) emphasized, “Child slaying followed by suicide involves a complex interplay of economic collapse and psychological factors,” adding, “Proactive monitoring of households suddenly plunged into crisis due to investment failures, job losses, etc., is essential.”
• Among 381 victims, 132 survived—78 of whom were excluded from state protection.
• If the child dies, the case is investigated as murder; if they survive, as attempted murder. Child abuse is not considered during this process. Analysis shows, “The child protection system does not activate, and local governments have no way of knowing about the cases.”
• Hankook Ilbo pointed out, “The absence of a unified manual for child slaying-suicide cases means outcomes depend entirely on the discretion of first-responding police.”
• Related Link.
• Related Link.

The Fix.

High School Credit System: The ‘Choi Sung-bo’ Dilemma.

• The term is short for “minimum achievement guarantee.” Currently, teachers must provide remedial instruction to students who fall below academic standards.
• The Education Ministry’s proposed credit system—under review—would allow students to complete certain common and elective courses simply by meeting attendance requirements. The stated goal is to reduce teachers’ workloads.
• Hong Soon-hee (Seoul Branch Director, Korean Teachers’ Union) criticized, “If the goal is to guarantee minimum achievement, support measures should be studied from the first day of elementary school.”
• Related Link.

No Carbon Cuts Mean 80 Days of Summer Heatwaves.

• That’s the Environment Ministry’s warning. The past decade’s average was 15.6 days.
• By 2040, it will rise to 17.8 days—and by 2100, to 79.5 days.
• The oceans are worse. Korea’s sea surface temperatures rose 1.44°C between 1968–2023—double the global average of 0.7°C. Fisheries damage has already reached 347.2 billion won over 14 years.
• Related Link.

Renewable Energy Generation: Paid Off with Cash.

• Five power generation utilities’ renewable energy share stood at just 21%. They are filling the Renewable Portfolio Standard (RPS) quota through external procurement.
• The five utilities’ greenhouse gas emissions last year were 139.16 million tCO2eq, accounting for 25% of South Korea’s total emissions of 566.52 million tCO2eq.
• The Renewable Energy Certificates (RECs) purchased by the five utilities last year amounted to 9.22318 billion RECs, worth 1.8509 trillion won.
• Choi Chang-min (Plan 1.5 activist) pointed out, “Power companies are not increasing renewable energy generation but covering their obligations with certificates, which drives up renewable energy prices and perpetuates a vicious cycle where there is no need to reduce generation costs.”
• Heo Jong-sik (Democratic Party lawmaker) stated, “We must boldly invest in renewable energy projects to lead the transition.”

ICYMI.

Will Airport Fees Rise?

• Incheon International Airport’s passenger fee is 17,000 won. Set at 15,000 won at its 2001 opening, it increased by 2,000 won the following year and has remained frozen for 23 years.
• London Heathrow’s fee exceeds 90,000 won, while Singapore Changi’s is around 60,000 won. Japan’s Narita and Vietnam’s Ho Chi Minh City airports also charge 2–3 times higher.
• Landing fees for a Boeing 777-300 are 2.99 million won at Incheon, compared to 13.13 million won at Heathrow.
• Incheon International Airport Corporation argues that fees must be adjusted due to declining duty-free rental revenue and other pressures.

Gangneung Obong Dam Water Level Recovers to 26%.

• Rain fell continuously on the 12th, 17th, and 18th, with more forecast today and tomorrow.
• The reservoir level dropped to 11.5% on the 12th. Gangneung remains under water rationing.
• An emergency 10,000-ton release from Doam Dam will also be supplied soon.

Conditional Approval for Gmarket + AliExpress Merger.

• Shinsegae and Alibaba International will each invest 50% to create Grand Opus Holdings, which will own Gmarket and AliExpress Korea.
• The Fair Trade Commission approved the merger on the condition that the two companies not share consumer data—a “two dinosaurs under one roof” strategy.
• AliExpress holds a 37% share of the overseas direct-purchase market; Gmarket has around 4%.
• The merger will open the reverse-import market to Gmarket’s 600,000 sellers, granting them access to AliExpress’s global platform.
• Can this shake up the e-commerce market dominated by Coupang and Naver? It depends on how much the overseas direct-purchase market grows.
• Related Link.

A 47-Meter Table, Trump’s Emotional Gift.

• He is on a state visit to the UK. Trump is the only U.S. president to have made two state visits. 139 candles were lit, with 1,452 pieces of tableware laid out. 160 guests attended, served by 100 staff.
• He pressured South Korea and Japan for investments but poured out investment plans in the UK.
• Agreements were reached to attract £150 billion in investments in AI, quantum computing, and other sectors. Financial investments from PayPal, Bank of America, Citigroup, and others will proceed separately. A civilian nuclear agreement was also signed.

A Subcontractor Worker Fined for Eating a 450-Won Choco Pie.

• A company reported a subcontractor worker to the police for taking and eating a 450-won choco pie and a 600-won custard pastry.
• The prosecution filed a summary indictment, and the court issued a 50,000-won fine.
• The aggrieved worker appealed for a formal trial, and the court again imposed a 50,000-won fine.
• The office space and driver waiting area are separated; the office with the refrigerator was off-limits to drivers.
• The worker claims they were told by drivers—not company staff—that snacks were freely available.
• An appeal is pending.
• “One could buy thousands of choco pies with the administrative costs of police investigation, prosecution, and court proceedings,” some remark.
• Theft cases under 100,000 won surged from 50,000 in 2019 to over 100,000 last year.
• Related Link.

Worth Reading.

Exploiting Trump’s Dilemma.

• Initially, the Georgia battery factory case was framed as “the immigration agency doing its job,” but days later, the stance softened to “allowing temporary foreign worker stays.”
• Building a Mexican wall was a campaign promise, but rebuilding manufacturing is Trump’s real success challenge.
• Cho Byung-jae (former director of the National Diplomatic Academy) noted, “South Korea is one of the few allies capable of aiding U.S. manufacturing revival,” adding, “Balancing interests is essential.”
• Related Link.

“Seems Like a Good Real Estate Policy,” They Say.

• Lee Jae-myung’s actual wording was, “Since there’s neither praise nor criticism, it seems like a good job.”
• Following the June 27 loan regulations, a supply expansion measure was announced on September 7. Park Byung-ryul (Kyunghyang Shinmun economics editor) interpreted, “The absence of praise or criticism wasn’t because the measures were excellent but because the market ignored them.”
• “Ironically, under the Lee Jae-myung administration, real estate has solidified its position as a risk-free asset. They said they wouldn’t touch property taxes and expanded inheritance tax deductions up to 1.8 billion won. It’s as if they’ve acknowledged windfall gains from real estate and accepted their generational transfer.”
• Park Byung-ryul pointed out, “As long as real estate remains a risk-free asset, money earned from stocks will likely end up being safely parked in real estate.”
• Related Link.

Conspiracy Theories Have Contexts and Backstories.

• Lee Jae-myung’s retrial remand was followed by Han Duck-soo’s sudden presidential bid announcement—both absurd events.
• Lee Choong-jae (former Korea Ilbo editor-in-chief) noted, “A guilty verdict in nine days defies common sense, and Han Duck-soo’s bizarre move to abandon his acting role is equally inexplicable.”
• Cho Hee-dae must restore his reputation if innocent—this isn’t a matter of simply claiming no meeting occurred.
• Seo Young-gyo called it “highly credible content.” Since the Democratic Party has drawn its sword, it must present more concrete evidence.
• “They seem less like a ruling party and more like a ruling opposition,” some say. Conspiracy theories have contexts and backstories, but that alone isn’t enough.
• Related Link.
• Related Link.
• Related Link.