Back to the U.S. for Negotiations.

• Kim Yong-beom (Presidential Policy Office Chief) and Kim Jeong-gwan (Minister of Trade, Industry, and Energy) are returning to the U.S. just two and three days, respectively, after coming back from there.
• Since they said “only a few issues remain,” the sudden recall can be seen as a positive sign.
• The Hankyoreh, synthesizing accounts from multiple diplomatic sources, analyzed that “they are coordinating the fact sheet wording,” adding that it will include “content such as increased defense spending and eased uranium enrichment restrictions.” The analysis suggests it will be announced on the 29th.
• Related Link.
• Related Link.

What Matters Now.

Takaichi Sanae Emphasizes a Strong Japan.

• Takaichi Sanae (President of Japan’s Liberal Democratic Party) was elected prime minister as expected. She is the first female prime minister since the introduction of the cabinet system in 1885.
• At the press conference, she said, “South Korea is an important neighboring country,” adding, “Although there are some concerns in South Korea, I like Kimchi and also watch Korean dramas.”
• Three years ago, at a lecture for an ultranationalist group, she remarked, “Because we ambiguously stopped halfway through—like halting Yasukuni Shrine visits—the other side (South Korea) is getting uppity (つけ上がる).”
• Having severed ties with Komeito and aligned with the Japan Innovation Party, she must fulfill promises such as reducing the number of House of Representatives members by 10%.
• Related Link.
• Related Link.

Lee Jong-ho Admits “Requested to Intervene for Lim Seong-geun.”.

• This is the testimony of Lee Jong-ho (former CEO of Black Pearl Investment), an accomplice in Kim Keon-hee’s (former first lady) stock manipulation case. He claims he received a request from Song Ho-jong (former head of the Presidential Security Service) but did not relay it to Kim Keon-hee.
• A statement also emerged that Lee Jong-ho showed a photo with Lim Seong-geun and said, “He’s a two-star general now, but I’ll get him promoted to three stars by talking to Yongsan.”

“Judicial Reform Public Deliberation” Followed by “November Conclusion.”.

• The Democratic Party is accelerating. Key issues are increasing Supreme Court justices and introducing constitutional appeals.
• Baek Hye-ryeon (Democratic Party lawmaker, head of the judicial reform special committee) said, “These are tasks that have been significantly deliberated and garnered consensus.” Kim Hyun-jung (Democratic Party spokesperson) stated, “We will conclude by the end of November.”
• The Korea Daily warned, “If pushed through in a ‘pre-determined answer’ style, it could alienate moderates and become a liability in next year’s local elections.”
• Park Sung-hoon (People Power Party spokesperson) criticized, “It’s framed as judicial reform, but it’s actually retaliation against the judiciary.” Na Kyung-won (People Power Party lawmaker) denounced it as “a law to occupy the judiciary.”
• Related Link.

A “Lee Jae-myung Rescue Law”? Fixing the Election Law Suffices.

• Moon Jin-seok (Democratic Party floor leader) made this remark. He argued, “Claiming it’s to counter the trial of Lee Jae-myung (president) under the Public Official Election Act is a logical leap.” The implication: “If the election law’s provision penalizing falsehoods is abolished, the trial itself disappears—why go as far as a constitutional appeal?”
• A Democratic Party leadership insider stated, “It will be put to discussion, and if the public wants it, we proceed; if not, we drop it.”
• Unusually, the Presidential Office issued a stance: “Regarding the constitutional appeal, we have discussed its necessity with the party,” adding, “Establishing concrete alternatives is the National Assembly’s role, and the party made the final judgment.”
• Related Link.

Deep Dive.

“China Won’t Invade Taiwan.”.

• Donald Trump (U.S. President) made the remark in passing, but it has caused significant ripples.
• The U.S. has maintained a stance of “not supporting Taiwanese independence.” The Wall Street Journal previously reported, “Xi Jinping (Chinese President) is trying to persuade [Trump] to shift direction on opposing Taiwanese independence.”
• Speculation arises that Trump may be using the Taiwan issue as a bargaining chip. Beijing appears more interested in trade agreements than security concerns.
• Related Link.

U.S.-Australia Rare Earth Alliance.

• Trump claimed, “In a year, critical minerals and rare earths will flood the market so abundantly we won’t know what to do with them,” adding, “They’ll become as cheap as $2.” But this remains wishful thinking.
• China’s share of the rare earth market exceeds 90%. The Wall Street Journal analyzed, “China’s dominance won’t crumble easily.” Beijing has repeatedly flooded the market to crash prices whenever the U.S. attempted to diversify supply sources.
• Xi Jinping may use this as a bargaining chip ahead of the summit. Chinese rare earth exports to the U.S. dropped 29% in September alone.
• Related Link.

“A Single Korean Death Prompts Presidential Action.”.

• One post from the Telegram channel ‘Sihanoukville Diary,’ with 310,000 members, read: “Koreans are impressive. A single death, and the president steps in. Chinese deaths must be at least 100 times that.”
• Of the 64 repatriated from Cambodia, 59 were detained. The group included managers of a 200-member crime ring with over 100 victims.
• Salaries reportedly included a $2,000 monthly base plus 8% of profits as incentives.

Who Judges Malice and Falsehood?

• Debate swirls around the Democratic Party’s push to amend the Information and Communications Network Act. The bill would impose damages up to five times the standard for malicious false reporting.
• Not all false information is illegal. Open Net and Jinbo Network issued a statement: “False information may require fact-checking and correction, but unless it is illegal, it should not be automatically deemed subject to blanket prohibition.”
• The Kyunghyang Shinmun editorial noted, “While the legislative intent is understandable, legal restrictions that could hinder oversight of power must be approached cautiously.”
• The Hankyoreh emphasized, “This is fundamentally different from the dismantling of the prosecution, which enjoyed public support.”
• The Korea JoongAng Daily criticized, “The very idea of legally defining ‘subjective malice’ is a dangerous proposition.” “More important than the legislative timeline is whether the law itself is enacted with societal trust,” it added.
• Related Link.
• Related Link.

Another Take.

“Buy When Prices Fall,” Said the Land Minister’s Deputy.

• Lee Sang-kyung (Vice Minister of Land, Infrastructure and Transport), who once said, “You can buy when your income accumulates,” declared 5.7 billion won in assets—4.3 billion won of which are real estate holdings by himself, his spouse, and family.
• Controversy arose over his purchase of a 3.4 billion won apartment last year with a 1.5 billion won lease deposit. Lee explained, “I secured a tenant at below-market rent because I couldn’t align the move-in timing,” but the explanation lacks consistency.
• The Korea Daily emphasized in an editorial, “The sincerity and credibility of policy must begin by dismantling this ‘do as I say, not as I do’ structure.”
• Related Link.

The Presidential Office’s Confidence.

• “If housing prices stabilize before the local elections, negative public sentiment will subside,” a source said.
• A ruling party official met by Chosun Ilbo stated, “Even if approval ratings drop, the Presidential Office’s stance is to bring housing prices under control.”
• The Democratic Party is following suit. Rep. Jeong Cheong-rae instructed lawmakers to refrain from making real estate-related remarks. A party official remarked, “Showing a gap between the party and government amid public anger would only send a negative signal to the market.”
• Related Link.

The Kim Hyun-ji Prevention Act and the Na Kyung-won Prevention Act.

• The Kim Hyun-ji Prevention Act stipulates that if one-third or more of committee members request it, a witness is adopted without a majority vote. It targets Kim Hyun-ji (Director-General of the Presidential Office).
• The Na Kyung-won Prevention Act prohibits lawmakers from serving as subcommittee chairs if their spouse or direct lineal relatives work at state agencies under the standing committee’s jurisdiction. It targets Na Kyung-won (People Power Party lawmaker).
• As one-off bills, they lack legitimacy and are unlikely to proceed to a vote.

Blurt, Then Backtrack: “Not So” Amid Backlash.

• Jeon Hyeon-hee (Democratic Party lawmaker) said, “Military measures against Cambodia should not be ruled out,” only for Kim Byung-ki (Democratic Party floor leader) to draw a line: “Military action requires extreme caution.”
• When Kim Byung-ki stated, “We will not propose it as party policy” regarding the constitutional appeal, Rep. Jeong Cheong-rae (Democratic Party leader) contradicted, “It will be proposed as the party leadership’s initiative.”
• A Democratic Party lawmaker interviewed by the Segye Ilbo remarked, “The Democratic Party’s rhetoric is too aggressive right now,” adding, “Even though we’re facing rebellion charges, we should act like a ruling party.”
• Critics note, “The lack of a messaging strategy is giving the opposition ammunition.”
• Related Link.

Samsung Life’s Deviant Accounting Aligns with International Standards.

• These were the words of Lee Chan-jin (Financial Supervisory Service Governor).
• Samsung Life acquired an 8.5% stake in Samsung Electronics using policyholders’ funds. There have been persistent claims that if the stake is sold, a portion of the gains should be distributed to participating policyholders.
• Samsung Life had classified it as a “separate liability,” but with changes to international accounting standards, there were arguments that it should be reclassified as an “insurance liability.” Lee stated, “We have set the direction to normalize it in line with international standards.”
• Related Link.

Taiwan’s PPP Per Capita GDP Surpasses South Korea by $20,000.

• Nominal GDP per capita has already been overtaken, but the gap widens under purchasing power parity (PPP).
• According to IMF estimates, Taiwan’s PPP-adjusted GDP per capita is $85,157, compared to South Korea’s $65,080.
• First, Taiwan has lower prices. Taiwan’s inflation rate this year is 1.7%, while South Korea’s is 2.3%.
• Exchange rate effects also play a role: as the won-dollar rate rises (the won weakens), purchasing power declines.
• The growth gap is also significant. The IMF projects South Korea’s growth at 0.9% this year—Taiwan’s is 5.3%.

Samsung Electronics vs. TSMC.

• 3Q operating profit: Samsung Electronics at ₩12 trillion, TSMC at ₩21 trillion. Operating margins are 14% and 51%, respectively—a vast gap.
• Annual salaries? TSMC averages around ₩160 million, Samsung Electronics about ₩130 million. With bonuses, TSMC reached ₩250 million last year.
• TSMC is a pure-play foundry, while Samsung Electronics is a comprehensive semiconductor firm producing both DRAM and foundry chips.
• TSMC excels in yield stabilization, whereas Samsung must secure cutting-edge technology and pioneer new markets.
• TSMC’s data-driven stability is led by technocrat executives, while Samsung’s owner-centric management prioritizes decisive, speed-driven operations.
• Samsung’s foundry division is hemorrhaging trillions, yet it cannot afford to abandon the sector.

Why Rep. Choi Min-hee (Democratic Party, Science and Technology Committee Chair) Vowed, “I Won’t Let This Slide.”.

• During MBC’s business report, Rep. Choi Min-hee (Democratic Party, Science and Technology Committee Chair) demanded, “Explain why you reported that I conducted the meeting inappropriately,” to which Park Jang-ho (MBC Head of News Bureau) responded, “Inquiries about individual reports are inappropriate.”
• Choi declared, “I won’t let this slide,” and ordered him to leave.
• MBC journalists issued a statement condemning it as a “threat to press freedom.”
• The controversy over her daughter’s wedding also resurfaced. She stated, “No wedding invitations were sent to businesses or supervised institutions,” adding, “I was too busy studying quantum mechanics to focus on my daughter’s wedding.”
• Chosun Ilbo criticized in an editorial, “It mocks the public.” Kukmin Ilbo noted, “Unless lawmakers eradicate their culture of self-indulgence, the stigma of ‘hypocritical politics’ will never fade.”
• Related Link.

Superposition and Entanglement.

• Quantum mechanics is the theory of ‘superposition and entanglement’—not just 0 or 1, but 0 and 1 simultaneously.
• Jeong Jong-o (AiNews21 reporter) pointed out, “The excuse ‘I was studying quantum mechanics…’ is inadequate in this context.” The implication: “If one had truly studied quantum mechanics, they should have managed both the audit and their daughter’s wedding without issue or controversy.”
• Kim Kwang-ho (Kyunghyang Shinmun columnist) criticized, “It was highly inappropriate to hold a daughter’s wedding during a National Assembly audit, where inspected agencies are summoned.”
• “Like quantum mechanics, which deals with imperceptible atoms and electrons, is political language confined to a reality beyond discerning truth from falsehood?”
• Related Link.
• Related Link.

The Fix.

7.8 Organ Donors per Million Deceased.

• South Korea only permits organ donation in brain-death cases. The government plans to allow donations after cardiac arrest following the withdrawal of life-sustaining treatment.
• South Korea’s deceased organ donation rate is 7.8 per million people. Deceased donations are categorized into brain-dead donors (DBD) and donation after cardiac death (DCD); Spain sees over half of its donations from DCD cases. South Korea has no DCD donations.
• For example, in the U.S., if a traffic accident victim who pledged organ donation is deemed near death, preparations for transplantation begin immediately. In South Korea, organ donation is impossible unless the donor is brain-dead.
• Han Young-il (Seoul Economic Daily columnist) explained, “Withdrawing life support and organ donation ultimately reflect our attitude toward death,” adding, “They may seem different, but their essence is the same.” “The courage to pass life to another is, in the end, a final self-comfort—a testament to having lived fully—and a sublime act of love.”
• South Korea’s living organ donation rate is relatively high, including cases where family members donate a kidney. It stands at 38.7 per million people.
• Related Link.
• Related Link.
• Related Link.

Why Cleaning Workers Are Fighting.

• When local governments seek to cut labor costs, the first to be targeted are sanitation workers. They cannot reduce the amount of work, and outsourcing non-regular workers only shifts labor costs to operational expenses.
• The problem is that during this process, managers’ salaries must still be paid and companies must retain profits, so workers end up with lower wages and more work.
• Ha Jong-kang (Professor at Sungkonghoe University) pointed out, “It’s actually strange if they don’t fight.”
• Outsourcing cleaning labor is a structural issue. If direct hiring were implemented immediately, service companies would close. Retired executives often end up as CEOs of such subcontractors. That’s why it’s difficult to address. Ha Jong-kang emphasized, “The demand to bring sanitation workers in-house is not a personal issue but a national one.”

ICYMI.

Kim Beom-su Acquitted of SM Entertainment Stock Manipulation.

• In February 2023, Kim was accused of artificially inflating SM Entertainment’s stock price to obstruct Hybe’s public tender during Kakao’s acquisition of the company.
• The first trial court ruled, “It is difficult to conclude that there was a conspiracy to manipulate market prices.” Notably, it criticized prosecutors, stating, “Investigative methods that extract statements through aggressive pursuit of unrelated cases may distort the truth.”
• Kim Beom-su (Kakao Management Innovation Committee Chair) said, “We will strive even harder to fulfill our social responsibilities following this ruling.” The prosecution has decided to appeal.
• Related Link.

Japan’s First Gentleman Suffers Cerebral Infarction.

• Yamamoto Taku (former Japanese House of Representatives member) is her husband. Due to cerebral infarction, Takaichi Sanae is reportedly bathing him herself.
• In Japan, women often adopt their husband’s surname after marriage—but in this case, they played rock-paper-scissors, and the husband took his wife’s surname.
• In 2017, they divorced due to political differences: Takaichi Sanae supported Shinzo Abe (former Japanese prime minister), while her husband backed Shigeru Ishiba (former Japanese prime minister).
• Related Link.

Uji Ramen Returns.

• It embodies the pride restored by Buldak Bokkeum Myeon. After switching to palm oil following the 1980 industrial-grade uji (beef tallow) scandal, the company is releasing a ramen with uji for the first time in 38 years. Though it sparked massive controversy, industrial-grade uji was later proven harmless to humans.
• The launch is seen as Samyang Foods’ declaration of overcoming its uji trauma.
• The ramen’s name, ‘Samyang Ramen 1963,’ commemorates the year of its original release.

Railway Ticket Cancellation Fees Reach 42 Billion Won Last Year.

• Cancellations surged from 37.97 million cases in 2021 to 83.37 million last year—more than doubling.
• Since last May, penalties for no-shows (cancellations just before departure) have been increased to deter last-minute cancellations.

Top 30% Income Earners Received 65% of Jeonse Loans.

• It’s a story of how high-income earners have used it as a tool for asset growth.
• The share of the bottom 30% income bracket is less than 8%.
• A bank official said, “As housing prices soared, jeonse deposits also rose,” adding, “Even with the same growth rate, high-income earners’ loan balances increased more.” Another official pointed out, “With loan regulations reducing the ceiling for ‘Pillar’ jeonse loans, the environment for low-income earners to secure jeonse loans has deteriorated.”
• Related Link.

Worth Reading.

A Housing Ladder Is Needed.

• It is true that gap investments—using jeonse deposits to secure loans and purchase homes—have long served as a housing ladder.
• The Hankyoreh emphasized in an editorial, “Public housing finance must be established to replace home purchases leveraging jeonse deposits.”
• Related Link.

Only the Presidential Office Is Visible.

• “Kim Yong-beom (Policy Director of the Presidential Office) is the front-runner type, Koo Yoon-cheol (Minister of Economy and Finance) is out of the loop, and Kim Jeong-gwan (Minister of Trade, Industry and Energy) is young—so who’s supposed to step up? No clear answer,” said a former official.
• Ko Jeong-ae (Central Sunday Editor-in-Chief) remarked, “The Policy Director, whose essence is ‘secretary,’ overshadows the deputy prime minister and ministers in public settings,” questioning, “What becomes of the economic line’s authority?”
• There is Carl Schmitt’s (political theorist) concept of the ‘antechamber of power.’
• “The more power concentrates in a specific position, individual, or group, the more acute the issues of access and control become. This leads to fiercer, nastier, and quieter infighting among those who occupy and control the antechamber. The powerholder, for their part, becomes increasingly isolated as power centralizes around them personally.”
• Ko Jeong-ae pointed out, “The Lee Jae-myung administration operates power resources and bases narrowly,” warning of the risk of falling into the antechamber trap.
• “During the Moon Jae-in administration, there was talk of a ‘Blue House government’ because the Blue House overshadowed the cabinet. The early phase of the Lee Jae-myung administration exceeds that. Cabinet utilization has declined further, and only the Presidential Office stands out. Is this normal?”
• Related Link.

Trust Actions, Not Words.

• There’s a rumor circulating after the 10.15 measures: “Will bureaucrats who own apartments in Gangnam really raise property taxes?”
• This stems from Koo Yoon-cheol (Minister of Economy and Finance) suggesting, “If property taxes were 1% like in the U.S., someone with a ₩5 billion home would pay ₩50 million annually,” only for his office to clarify the next day that it was not an official stance.
• Ahn Hyung-seong (JoongAng Ilbo reporter) noted, “The real estate market remains stubbornly active partly because of eroded trust in government measures like supply-side policies.”
• Related Link.

Grand Narratives and the Illusion of Efficacy in Polarized Attention.

• We are always short on time—no opportunity to read news deeply or recontextualize it. Kim Nak-ho (Drexel University Professor) explains this through the concepts of “disposable cognitive capacity” and “attention cost-effectiveness.”
• Voicing opinions on national or global issues rather than local matters creates an illusion of participating in something grand and important. This is the polarization of attention.
• In Philadelphia, over 30% of public transit routes nearly vanished. Republican lawmakers, whose districts are rural outskirts, told residents not to worry since they don’t live in those areas. Yet it’s overlooked that urban workers commuting via public transit earn money, pay taxes, and contribute significantly to the state budget.
• Coexistence isn’t about tolerating each other despite dislikes. It’s recognizing shared problems and seeking solutions that maximize mutual benefit.
• Kim Nak-ho emphasized, “Grand narratives often lead to emotional and ideological polarization by showcasing clarity,” adding, “It’s necessary to redirect attention and time wasted in grand public discourse toward concrete spaces of daily life.”
• “The fundamental solution to the ‘prisoner’s dilemma’ lies not in calculating whether to confess but in dissolving the dilemma itself—the isolated conditions that create it. Breaking isolation allows for maximizing mutual benefit.”
• Related Link.