National Greenhouse Gas Reduction Target Set at Minimum 50%.

• The government has proposed two options: a 50–60% reduction and a 53–60% reduction.
• Under the Paris Agreement, countries submit 10-year targets (NDCs) to the UN every five years—the current discussion concerns the 2035 reduction goal. The ultimate aim is to achieve net-zero greenhouse gas emissions by 2050.
• 61.2% aligns with the IPCC’s recommended level, while civil society demanded at least 67%. The proposed targets mark a significant retreat.
• The Carbon Neutrality Green Growth Committee will decide next week, followed by Cabinet review and submission to the UN.
• Critics argue the targets are tepid, favoring industry, and lack concrete implementation plans. The UK aims for 66.9%, the US for 56–61.6%, and Japan for 54.4%.
• In an editorial, Kyunghyang Shinmun called the targets “grossly inadequate and complacent in the face of the dire climate crisis.”
• The Hankyoreh headlined its front-page story: “A Halfhearted Compromise.”
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The Lower Limit Becomes the Standard.

• Choi Chang-min (Plan 1.5 activist) assessed, “The government is forcing the public to choose between the worst and the lesser evil among the four proposed options.”
• Nam Jung-im (Korea Iron and Steel Association director) stated, “Commercialization of hydrogen-reduction steelmaking is expected in 2037,” adding, “The government has not considered technological development.” The claim suggests domestic production will decline while Chinese imports increase.
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Accelerating the Phaseout of Internal Combustion Engine Vehicles.

• Kim Seong-hwan (Minister of Climate, Environment, and Energy) stated, “We will expand the share of electric and hydrogen vehicles to 40% of new car sales by 2030 and 70% by 2035.”
• Electric and hydrogen vehicles accounted for only 13.8% of new car sales from January to September this year.
• Renewable energy capacity will also be expanded—tripling current levels by 2030.
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“No Nuclear Power, No Future.”.

• Amid already inadequate targets, arguments for expanding nuclear power are piling on like uninvited guests.
• Yu Seung-hoon (Professor, Seoul University of Science and Technology) warned, “Going all-in on renewables without proper grid infrastructure will not only make NDC targets unachievable but also increase risks like blackouts,” adding, “An energy mix strategy utilizing diverse sources like nuclear and hydrogen is essential.”
• The Korea Daily reported, “Industry circles expect to avoid further hikes in industrial electricity rates and minimize overall rate increases through a rational energy mix.”
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What Matters Now.

Arrest Motion for Choo Kyung-ho Set for Vote on 27th.

• Special prosecutors requested a detention warrant for Choo Kyung-ho (former People Power Party floor leader), citing his alleged involvement in critical tasks related to insurrection. The Democratic Party reported the arrest motion to the plenary session on the 13th and plans to process it on the 27th.
• Jeong Cheong-rae (Democratic Party leader) claimed, “If convicted, the People Power Party deserves dissolution—10 times, 100 times over.”
• Woo Jae-jun (People Power Party lawmaker) argued, “No evidence has emerged that Choo Kyung-ho or any lawmaker discussed martial law with Yoon Suk-yeol (then-president).”

Collapse at Ulsan Thermal Power Plant: Five Workers Unaccounted For.

• A boiler tower under demolition collapsed, burying nine people.
• All were employees of Korea Kako, a blasting specialist firm. Only one was a regular worker; the other eight were contract laborers.

“No One to Lean On,” 10%.

• The Social Value Research Institute’s survey results.
• According to the National Data Agency, South Korea’s middle-class ratio stands at 59%, but this survey found only 40% self-identify as middle class.
• Only 10% responded they have people around them they can rely on in emergencies.

KT Concealed Malware Infection.

• It was belatedly revealed that KT failed to report and proceeded despite malware being discovered on 43 servers between March and July last year.
• A joint public-private investigation team pointed out, “Running antivirus software to erase traces constitutes clear concealment and is subject to fines.”

Deep Dive.

Lee Jin-kwan and Ji Gwi-yeon.

• Two judges’ attitudes could not be more different.
• Lee Jin-kwan (Seoul Central District Court presiding judge), handling the Han Duck-soo (former prime minister) case, imposed a 5 million won fine and issued a summons warrant after Lee Sang-min (former minister of the interior and safety) failed to appear as a witness.
• When Park Sang-woo (former minister of land, infrastructure and transport) claimed, “I am also a victim,” he remarked, “An inappropriate statement.” To Han Duck-soo, he pressed, “What measures did you take for the people?”
• Though Yoon Suk-yeol’s trial began five months earlier, Han Duck-soo’s case is likely to reach a verdict first.
• The Kyunghyang Shinmun editorial noted, “It is worlds apart from the infinitely lenient and sluggish proceedings of Judge Ji Gwi-yeon’s court handling the Yoon Suk-yeol case.”
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141 Firefighters Died by Suicide Over 10 Years.

• Only 25 were officially recognized as line-of-duty deaths.
• A 16-year veteran firefighter interviewed by The Hankyoreh said, “Witnessing countless deaths, handling grievously disfigured bodies, and seeing grieving families naturally leads to depression,” yet added, “The system still makes it hard to seek or receive recognition for mental health struggles.”
• Last year’s Fire Agency survey found 3,141 out of 61,087 firefighters were at high risk of suicide.
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Will the Federal Supreme Court Overturn Trump’s Tariffs?

• The atmosphere is ominous. Though many expected the conservative-leaning court to easily dismiss the case, the oral arguments instead saw a barrage of criticism that Trump overstepped congressional authority.
• The first and second trials already ruled the reciprocal tariffs must be invalidated. If the Supreme Court finalizes this, over half the tariff revenue might need to be refunded to importers.
• If the tariffs are invalidated, what happens to the $350 billion investment South Korea pledged? Nothing is certain yet.

No Investment in Alaska.

• Kim Jeong-gwan (Minister of Trade, Industry and Energy) said, “The Alaska LNG project is a high-risk venture,” adding, “Since the commercial viability promised by the U.S. is limited to projects generating cash flow, it cannot be a viable investment.”
• Kim Yong-beom (Presidential Chief of Staff for Policy) also stated, “We will not initiate any project where the principal and interest cannot be recovered.”
• This contradicts Howard Lutnick (U.S. Secretary of Commerce), who claimed, “South Korea’s investment fund will invest in the Alaska project.”
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Another Take.

Kim Hyun-ji Did Tell Kang Sun-woo to Resign.

• It has been confirmed that in July, Kim Hyun-ji (Senior Secretary for Presidential Affairs) told Kang Sun-woo (then-nominee for Minister of Gender Equality and Family) to resign—a claim that had circulated as speculation.
• Kang Hoon-sik (Chief of Staff to the President) stated, “I summoned Kim Hyun-ji to issue a warning and ensure such an incident would not recur.”
• Kang Hoon-sik, however, clarified, “Kang Sun-woo was in the process of speaking with multiple people, and during that, there was a call with Kim Hyun-ji.” This implies Kim Hyun-ji did not initiate the call.
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Clash in the National Assembly.

• Kim Hyun-ji’s attendance was a contentious issue during the presidential office’s audit. Song Eun-seok (People Power Party floor leader) and Lee Ki-hyeon (Democratic Party lawmaker) clashed while engaging in a pushing match.
• The People Power Party held a press conference, condemning “an act of violence committed in broad daylight.” Lee Ki-hyeon claimed, “I was the victim of the pushing,” adding, “My only crime was having a protruding stomach.”
• Kang Hoon-sik stated, “Kim Hyun-ji is being excessively attacked.”

Kim Eo-jun’s Provocation, Jeong Cheong-rae’s Response.

• “Don’t think, ‘Who would do such a thing?’ We need to block this.”
• Kim Eo-jun (CEO of Ddanzi Ilbo) mentioned the need for a trial suspension law on his broadcast, and days later the Democratic Party announced plans to propose a national stability law.
• October 21: Regarding Kim Dae-woong’s (Seoul High Court Chief) National Assembly audit remarks, “It’s a veiled threat: if necessary, they’ll just proceed with Lee Jae-myung’s trial.”
• October 23: “We left the trial suspension law alone because it wasn’t necessary, but now we have to push for it.”
• October 24: “Thinking, ‘They wouldn’t dare,’ seems naive.”
• The issue was only resolved after the Presidential Office intervened, stating, “We urge you not to drag the president into political strife.”
• The Korea JoongAng Daily assessed, “Kim Eo-jun is the visible hand steering the Democratic Party’s hardline sentiment.” Beyond merely instigating legislation, he openly urges aggressive tactics and criticizes cabinet appointments.
• A Democratic Party lawmaker remarked, “Even if we shift focus from the ‘regime change’ narrative to livelihood issues by early next year, we might capture moderates—but the leadership seems convinced that running solely on the ‘regime change’ agenda is sufficient for the election.”
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Why Jensen Huang Said, “China Will Win the AI War.”.

• “Electricity in China is practically free.”
• Jensen Huang (CEO of NVIDIA) said this at a Financial Times conference.
• If NVIDIA halts graphics card exports to China, the country could likely produce alternatives to NVIDIA using Huawei chips.
• The key lies in cheap electricity. With abundant energy subsidies, China can access electricity at near-zero cost. It’s not impossible to run multiple lower-performance chips to match NVIDIA’s performance.
• It’s a competitive strategy similar to China’s rare earth dominance. The Chinese government sells rare earths cheaply to block competitors’ entry. From NVIDIA’s perspective, keeping China dependent on its technology is the only way to maintain its barrier. The worst-case scenario is if China catches up without NVIDIA.
• Advanced semiconductors are obviously critical, but cheap electricity could be a game-changer.
• Trump disagrees. “No one but the U.S. should have access to cutting-edge chips,” he said.
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MANGA Is Next, MANU Follows.

• It’s a shortened form of “Make America Nuclear cooperation Great Again.”
• The U.S. plans to increase its nuclear power generation capacity from 100GW in 2025 to 400GW by 2050—requiring 300 additional 1GW nuclear plants.
• The U.S. nuclear industry resembles its shipbuilding sector: once dominant, it’s been dormant for too long and lacks experts. Vogtle Units 3 and 4 took 14 years from groundbreaking to operation, with costs ballooning to over $30 billion—more than double the original estimate. Money is available, but deadlines aren’t being met.
• This is why analysts predict the U.S. will inevitably turn to Korean companies. Some say South Korea is the only nation globally capable of building a nuclear plant for around $1 billion per unit.
• A U.S.-Japan investment pact factsheet reveals Japan will invest up to $332 billion in U.S. critical energy infrastructure. There’s speculation that Korean firms might end up receiving funds allocated by the Japanese government.
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Fermi’s Matador Project.

• A company founded in January this year listed on NASDAQ in October. Rick Perry (CEO of Fermi Energy) served as Texas governor and as Secretary of Energy in Trump’s first administration. The company’s market cap once neared $20 billion despite having no revenue yet.
• The flagship campus Fermi is building in Amarillo, Texas, combines eight nuclear reactors, gas power, and solar to generate 11GW of electricity for an energy+data center. It’s called the Matador (bullfighter) Project. Total costs are estimated at $500 billion.
• It will use air cooling instead of coastal water cooling—the first large-scale commercial reactor to do so.
• Fermi named the reactor “Donald J. Trump.”
• Korean companies including Hyundai Engineering & Construction, Doosan Enerbility, Samsung C&T, and Korea Hydro & Nuclear Power are participating.
• Hana Securities analyzed: “If the priority is deadlines, they’ll rely heavily on Korea. If reviving supply chains is the goal, they’ll sacrifice time. For Korean firms, cost is no issue if built with others’ money. Funding constraints are largely resolved—only someone to rein in the runaway spending remains.”
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The Fix.

Why Severe Atopic Dermatitis Qualifies But Severe Asthma Doesn’t.

• Severe atopic dermatitis is included in the special medical expense calculation system, with patients covering only about 10% of treatment costs. Even with health insurance, severe asthma patients pay over 1 million won monthly—due to the exorbitant cost of biologic medications.
• There are approximately 100,000 severe asthma patients in South Korea.
• Lee Jin-han (medical affairs reporter at Dong-A Ilbo) noted, “Severe atopic dermatitis is visibly apparent, and patient groups are well-organized with strong advocacy,” adding, “Severe asthma patients, burdened by stigma and misconceptions about contagion, have hesitated to speak openly.”
• A recent survey found that 9 out of 10 severe asthma patients discontinued biologic treatments due to financial strain.
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Youth “Resting” Distorted Unemployment Rates.

• This implies the statistics are distorted. KDI analyzed, “If the proportion of 20-somethings ‘resting’ had remained at 2015 levels, this year’s unemployment rate would have risen by 0.7 percentage points to 3.4% from 2.7%.”
• The 20-something working-age population fell 17% from 6.94 million to 5.75 million between 2005–2025, while the ‘resting’ population surged 64% from 250,000 to 410,000.
• Related Link.

ICYMI.

“Watermelon Issue” Controversy: MBC Correspondent Apologizes Publicly.

• Telegram chat logs between Rep. Choi Min-hee (Democratic Party) and an MBC correspondent sparked controversy.
• Choi Min-hee: “Reporting to someone, issuing statements—it’s laughable. Cowards. Can’t even confront the People Power Party.”
• Kim ○○ (MBC correspondent): “Yes, it’s the watermelons here. Even under former CEO Park Sung-je, the mainstream was like this. The newsroom director too—many junior colleagues with common sense are worried about how things are unfolding.”
• The exchange occurred after Choi abruptly dismissed Park Jang-ho (MBC News Director) during a parliamentary audit briefing. “Watermelons” refers to journalists critical of the Lee Jae-myung administration.
• Kim ○○ later posted on the internal newsroom board: “This came up in a private conversation. Even personal chats require caution.”
• An MBC journalists’ association issued a statement: “We cannot let MBC News become a laughingstock. A decision must be made now.”
• Related Link.

Mamdani’s Transition Team: All Five Co-Chairs Are Women.

• Lina Khan (former FTC Chair), Maria Torres-Springer (former New York Deputy Mayor), Grace Bonilla (NY United Way CEO), and Melanie Hartzog (former New York Deputy Mayor) serve as co-chairs.
• Eric Adams (New York City Mayor-elect) said, “We begin the difficult work of improving the lives of New Yorkers.”
• Trump claimed, “The enemies have decided to turn America into communist Cuba and socialist Venezuela.”

142m Tower with Jongmyo View Now Permitted.

• The Supreme Court rejected the Culture Ministry’s petition, ruling Seoul’s revised ordinance—stripping protections for nationally designated heritage zones—valid.
• If implemented, a 35-story tower will rise by 2030.

Should the President Enact a Prohibition Law?

• Lee Jin-woo (former Capital Defense Command Chief) testified, “Yoon Suk-yeol drank very quickly, became intoxicated, and Kim Yong-hyun (then Minister of National Defense) had to support him as they left.”
• At a recent trial, Yoon Suk-yeol himself acknowledged, “As soon as I sat down after 8 p.m., didn’t we immediately start mixing soju and beer bombs? From what I recall, a tremendous number of shots were poured right after I sat down.”
• Kang Joo-an (JoongAng Ilbo editorial writer) noted, “The Cheonan sinking occurred at 9:22 p.m.,” and pointedly asked, “What if a North Korean provocation had happened on a night when an extraordinary number of shots were consumed?”
• Related Link.

New Allegations Surrounding Kim Keon-hee’s Dior Trio.

• Kim Keon-hee (wife of Yoon Suk-yeol) is under fresh scrutiny for allegedly receiving a Dior trio—including a bag, clothing, and a bracelet—from 21 Gram.
• 21 Gram, a company Kim Keon-hee had dealt with since her time at Covana Contents, sparked controversy by securing the presidential residence expansion project despite lacking qualifications.
• The special investigation team raided the Yoon couple’s residence, 21 Gram, and Covana Contents’ office.

A Stock Manipulation Accomplice Flees by Leaping from the Second Floor.

• The special investigation team raided the home of Lee A-moo, a suspect in the Deutsche Motors stock manipulation case, during which Lee A-moo fled by jumping from the second-floor balcony. This is a different individual from Lee Jong-ho (former Black Pearl Investment CEO).
• The special investigation team secured a smartphone used by Kim Keon-hee from 2013 to 2016 at the Buddhist altar of Jeon Seong-bae (Geonjin Beopsa). Forensic analysis revealed over 500 messages exchanged between Kim Keon-hee and Lee A-moo. According to SBS, Kim Keon-hee and Lee A-moo may have had a clandestine relationship beyond their role as accomplices in stock manipulation.
• Related Link.

Worth Reading.

An Era Marked by Widening Asset Inequality?

• Ryu Yi-geun (Hankyoreh editorial writer) assessed, “The current stock market is close to a tax haven.”
• The government shelved the financial investment income tax and abandoned efforts to restore major shareholder requirements. It has also failed to address real estate holding taxes.
• The implication is that Yoon Suk-yeol and Lee Jae-myung are equally complicit in tolerating asset inequality.
• Thomas Piketty (Paris School of Economics professor) once proposed a minimum inheritance tax, granting €120,000 to adults over 25. Ryu Yi-geun noted, “Without bold policy imagination and resolve, narrowing the ever-widening asset gap remains an elusive reality.”
• Related Link.

‘Academic pedigree’ is out, ‘property pedigree’ is in.

• “Status is determined not by scores but by square footage,” goes the saying.
• Jeon Byung-yeok (Kyunghyang Shinmun economic editor) proposed, “Let’s shift our thinking: ease property taxes and drastically strengthen capital gains taxes.”
• “If selling doesn’t leave a profit, who would gamble their eyes out for speculation?”
• Related Link.

Nuclear Submarines? Atomic Submarines? Now It’s the Era of Underwater Drones.

• A Virginia-class nuclear submarine carrying 134 crew costs around 6 trillion won. Annual maintenance runs 80–150 billion won.
• The Orca underwater drone costs about 80 billion won—far cheaper. Some argue 30–40 drones are better than one nuclear sub.
• The nuclear-powered submarine South Korea plans to build will not carry nuclear weapons.
• As Kim Jong-dae (former Justice Party lawmaker) put it, “It’s a strange weapons system that does nothing but track and surveil without nuclear deterrence.” If built in U.S. shipyards, Washington has no reason to object. Kim questions, “Is it wise to obsess over a submarine project costing over 10 trillion won, risking technological dependence on the U.S.?”

Why We Must Spend So Much.

• Sam Altman (OpenAI CEO) posted a lengthy explanation on X (Twitter).
• It addressed David Sachs (White House Science and Technology Advisory Committee Chair)’s remark that “there will be no federal bailout for the AI industry” after Sara Friar (OpenAI CFO) sought government assistance in funding AI chip purchases.
• First, how can such massive infrastructure investments be sustained?
• OpenAI expects $20 billion in revenue this year. Its planned infrastructure investment over eight years reaches $1.4 trillion—an enormous challenge requiring revenue to double annually.
• Second, isn’t this creating a “too big to fail” corporation?
• Sam Altman drew a line: “If we make mistakes and fail to correct them, we should fail.”
• Third, will the government become the AI industry’s “insurer of last resort”?
• Altman emphasized preparing for risks like “state-scale disasters from malicious actors launching large-scale cyberattacks,” but clarified, “This doesn’t mean governments should compensate for AI companies’ losses or provide insurance.”
• Fourth, why spend so much? Can’t growth be slower?
• Altman stressed, “The risk of insufficient computing power outweighs all other risks—it’s far greater and more immediate,” insisting “now is the time to begin massive investments.”
• “An era is approaching where major scientific breakthroughs are possible. Our mission is to swiftly apply AI to humanity’s toughest challenges—to deliver AGI’s benefits as quickly as possible. If we’re wrong, the market will judge and correct us.”
• Related Link.