Insurrection Trial Division Law Passed.

• Despite Jang Dong-hyeok (People Power Party Leader) resisting with a 24-hour filibuster, the Democratic Party forced an end and pushed it through.
• It passed 175 in favor, 2 against, 2 abstentions, with People Power Party lawmakers having walked out. Park Ju-min (Democratic Party lawmaker) and Choi Hyuk-jin (Independent lawmaker) abstained.
• Lee Jae-myung (President) is highly unlikely to veto (request reconsideration). At a 100-day press conference, he once retorted, “Why would that be unconstitutional?”

Yoon Likely to File Constitutional Review Request.

• The Democratic Party’s bill mandates creating at least two dedicated trial divisions and random case assignment within them, differing from the Supreme Court’s existing rule of automatic assignment from over 16 criminal divisions.
• If the bill is promulgated, Yoon’s trial will be transferred to a dedicated division starting from the appellate stage. Cases will first be assigned to a criminal division, then reassigned once the dedicated division is formed.
• If Yoon requests a constitutional review of the law and the court accepts it, the trial will be suspended until the Constitutional Court rules. In the worst-case scenario, if his detention period expires, he could face trial without custody.
• Yoon was rearrested on July 10, with his detention period set to expire on January 18, 2025. The special prosecution re-requested his arrest on charges including general treason; even with a six-month extension, the appellate trial may not conclude within that timeframe.

Disinformation Punishment Law Also Set for Passage.

• The People Power Party has begun a filibuster, but it will likely be forcibly terminated after 24 hours and pushed through.
• The controversial “truth-based defamation” clause remains intact. Though Lee Jae-myung (President) ordered its abolition, the Democratic Party insists it will be revised alongside the criminal code in the future.
• Arguments to exclude politicians, high-ranking officials, and conglomerates were ignored.
• The People Power Party protests, calling it a “super gag law that silences the people,” but has no means to stop it.
• It is ironic that the People Power Party uses the term “gag law” in the first place.

What Matters Now.

“If You Can’t Even Afford Chicken for Soldiers, That’s Martial Law.”.

• Yoon Suk-yeol (former president) said this during the insurrection trial.
• “When I visited frontline units, soldiers would say, ‘Please improve our platoon leader’s treatment—morale is so low, no one wants to work.’ I’ve been sending related budgets to the National Assembly, but they just cut them.”
• “A senior sergeant manages the platoon’s soldiers. Even if he wants to buy them a single chicken, that’s the money needed. I don’t know how they can selectively slash only these items. I’ve mentioned this how many times, over how many years?”
• He said this to Park An-su (former martial law commander), who appeared as a witness.
• When Ji Gwi-yeon (Seoul Central District Court judge) asked him to “stick to what he witnessed or heard,” Yoon replied, “I apologize, but I asked because it’s quite meaningful regarding the grounds for martial law declaration.”
• Related Link.

Seoul Home Prices to Rise Over 4% Next Year.

• The Housing Industry Research Institute forecasts this.
• First, liquidity has increased over 10 years; second, the U.S. has lowered its base rate; third, construction starts have been insufficient by nearly 600,000 units over the past four years.
• Nationwide, prices are expected to rise 1.3%, with the capital region at 2.5%.
• Jeonse prices will rise even more: Seoul at 4.7%, the capital region at 3.8%, and non-capital regions at 1.7%.
• Related Link.

Are Follow-Up Measures in the Works?

• Kukmin Ilbo editorialized, “The government must acknowledge that its obsession with suppressing demand is instead fueling ‘smart single-property’ speculation and ‘all-in’ buying sprees.”
• Seoul Shinmun also criticized, “The time has come for bold, comprehensive revisions to the June 27 measures, which have suffocated the market without real effect.”
• Related Link.
• Related Link.

Forget Yesterday’s Gold Prices.

• It rose to $4,459.4 per ounce (31.1g). Up 69% this year alone.
• The Financial Times highlighted analysis: “Gold remains the ultimate hedge against both geopolitical risks and currency debasement fears.”
• Silver is rising too. Up 137% this year. Hit $69.5 per ounce.

Deep Dive.

Trump’s 100x Stronger Golden Fleet, Built by Hanwha.

• They decided to build eight supercarriers over 30,000 tons. Donald Trump (U.S. President) said, “We call this Trump Class fleet the ‘Golden Fleet.’”
• He singled out Hanwha Ocean as a good company. “Hanwha, a good company, recently acquired the Philadelphia shipyard and decided to invest $5 billion. We are restarting the Philadelphia shipyard. It’s an excellent shipyard.”

The Won Keeps Falling.

• The exchange rate hit 1,483.6 won—its highest level since April.
• Critics note the government’s apparent anxiety over breaching 1,500 won is only fueling market instability.
• The National Pension Service extended its currency swap agreement, and banks were asked to release dollar reserves. A temporary exemption on foreign exchange stability levies was also granted. Some say every possible measure has now been deployed.
• Coffee prices tripled in dollar terms since 2020—but quadrupled in won terms. Beef rose 30% in dollars, but 60% in won.

LG Energy Solution: “10% Won Decline Equals 534.5 Billion Won Loss.”.

• Exporters face direct cost pressures from the weak won.
• Samsung Electronics spent 10.9 trillion won last year on mobile application processors (APs) from U.S. Qualcomm. Rising exchange rates increased costs by 7%.
• Korean Air reported record first-quarter revenue this year, but operating profit fell 19%.

Another Take.

“Indonesia Sinks Ships, Says It.”.

• Lee Jae-myung (President) ordered a crackdown on illegal Chinese fishing.
• “When the Indonesian navy sank several (illegally fishing) vessels, they say they stopped coming (to Indonesian waters) entirely. We can’t go that far, but we must show we’re responding strictly. Blowing them up with shells seems excessive—don’t they have patrol boats that ram fishing vessels these days?”

Mandatory Facial Recognition? What If Our Faces Get Exposed?

• It’s the government’s proposed solution to eradicate disposable phones.
• Starting March next year, opening a mobile account will require submitting a physical ID and a facial photo, verified via the PASS app.
• In reality, facial data leaks and illegal trading have surged in China.
• Oh Byung-il (Digital Justice Network Director) warned, “If facial data is combined with CCTV, it could enable real-time tracking of individuals’ movements.”

The Poverty Brought by Currency Depreciation.

• Minimum wage rose 20% over six years—but fell 5% in dollar terms. The minimum wage, 8,350 won in 2019, rose to 10,030 won this year, but in dollars, it dropped from $7.16 to $6.79.
• The value of money has fallen. Jajangmyeon prices rose 64% over ten years—from 4,862 won to 7,654 won.
• Distortions in asset markets are also severe. Buying a Han River-view apartment in Banpo in 2019 required 52.7 kg of gold; now, only 23.5 kg is needed. In won, prices rose 76% from 2.75 billion won to 4.85 billion won—but in gold terms, value fell 55%.
• “A society where income fails to keep pace with currency depreciation threatens human dignity.”
• Choi Joon-young (Yulchon Senior Advisor) emphasized, “We don’t want a cheap life—we hope for a dignified one where real income rises enough to sustain it.”
• Related Link.

The Fix.

22 Years at the Top of the Suicide Rate List.

• Nah Jong-ho (Yale University Professor) noted, “South Korea’s budget for suicide prevention is about one-tenth of Tokyo’s suicide prevention budget.”
• Japan, which once recorded more than double South Korea’s suicide rate, designated suicide prevention as a national priority, expanded emergency mental health systems, established media reporting guidelines, and intervened early in unemployment and debt issues. As a result, its suicide rate dropped by 40% over 20 years.
• “Nowhere in the world has suicide rates decreased meaningfully without building mental health infrastructure or active state intervention. Conversely, countries that directly invested in long-term, systematic suicide prevention policies—Finland, Japan, the UK, etc.—have consistently achieved results.”
• Related Link.

Cutting Plastic Waste by 30% by 2030.

• Plastic waste is projected to rise from 7.71 million tons in 2023 to 10.12 million tons by 2030.
• The government plans to reduce emissions by 1 million tons and recycle 2 million tons by 2030, bringing the total to 7 million tons—but critics argue it lacks concrete implementation measures.
• Plastic waste has been increasing by 7% annually. 47% of plastic products are containers and packaging.

Seoul’s Stepping Stone Income Reduced Labor Participation.

• Pilot program provided cash to cover half the gap between household income and 85% of the median income.
• This year, 85% of the median income for single-person households is 2.03 million won. A single-person household with zero income could receive around 1.02 million won.
• Results? Labor participation rate among household heads receiving the benefit was 52%, nearly 11% lower than the 63% in the control group. Education and medical expenses were 50% and 15% higher, respectively.
• Lee Jung-min (Seoul National University Professor) said, “We predicted income support would reduce labor supply—and this was confirmed.” Kim Yu-bin (Korea Labor Institute Director) noted, “It did not lead to a sharp decline in work motivation,” adding, “Incentives like employment success bonuses should be combined.”

Direct Landfill Ban D-8.

• Seoul’s trash may soon need to be burned in Chungcheong Province. Local residents there are fiercely resisting.
• Seoul and Gyeonggi produce 3,079 million tons and 44,735 million tons daily, respectively, but only 7,270 million tons and 6,410 million tons are directly landfilled. Incheon landfills just 1,670 million tons out of 8,720 million tons.
• Direct landfill means burying standard volume-based garbage bags as-is. Starting next year, only incinerated ash can be buried. With public incinerators critically insufficient, private facilities or cross-regional disposal will be unavoidable.
• Private incineration costs, previously 140,000–150,000 won per ton, have recently surged to 210,000 won.
• Lee Sang-don (Ewha Womans University Professor) criticized, “The government and municipalities were overly complacent after agreeing to ban direct landfill four years ago.” With local elections next year, finding solutions will be even harder.
• Related Link.

ICYMI.

UK Bans Live Boiling of Lobsters.

• Switzerland, Norway, New Zealand, and others already prohibit boiling crustaceans alive. They must be stunned with electric shocks or frozen before cooking to reduce suffering.
• Research shows crustaceans and cephalopods are sentient and experience pain.

0.001% Super-Rich Wealth Triples That of the Bottom 50%.

• 56,000 individuals hold as much wealth as 2.8 billion people. The World Inequality Lab warned, “The situation has reached a level requiring urgent action.”
• The top 10% owns 75% of wealth. The bottom 50% holds just 2%.
• The top 10% accounts for 77% of carbon emissions.
• Joseph Stiglitz (Columbia University professor) noted, “Inequality is not destiny but a result of choices.”
• Tools already exist: increased public investment in education and healthcare, stronger redistribution programs, progressive taxation, and fair labor standards. The report’s conclusion: “The tools are there—what’s missing is political will.”

Company’s Value Jumps Fivefold in a Year.

• OpenAI’s corporate value has grown to $830 billion (1,165 trillion won). It has more than quintupled from $157 billion a year ago.
• ChatGPT users now exceed 800 million weekly, with an estimated annual revenue run rate of $20 billion—far surpassing the $11.6 billion target set earlier this year.
• 92% of Fortune 500 companies use OpenAI products.
• Choi Joong-hyuk (Palo Alto Capital CEO) noted, “OpenAI sits between the world of software—where subscriptions and ecosystems thrive—and the world of infrastructure dominated by power, supply chains, and capital,” adding, “The next valuation will come not from smarter models but from a solid business structure.”
• Related Link.

Why Chinese Tourists Buy Quilts in Korea.

• One store in Gwangjang Market reportedly sells 200 quilts in a single day. Taiwanese and Singaporean tourists have also increased.
• The word spread: cheap prices and good quality. A quilt that costs hundreds of thousands of won in Taiwan can be bought here for 50,000 won.
• They carry them in compression bags or pay 10,000–20,000 won for shipping.
• Critics say the quilt mecca has become a tax evasion haven. Many stores insist on cash transactions—avoiding value-added tax by leaving no transaction records.
• Related Link.

Worth Reading.

Is It Really Inevitable?

• “When the world doesn’t go your way, look back at the past, which seems clearer than the blurry future. Realizing that what’s obvious today was once fiercely questioned can give you strength to be optimistic about today.”
• Lee Sang-heon (ILO Director of Employment Policy) pointed out, “The phrase ‘it can’t be helped’ quietly removes the inconvenience of changing what seems unchangeable.”
• We abolished child labor, reduced working hours, and established minimum wages. Those who fought rather than resigned to ‘it can’t be helped’ changed reality. We’re still fighting to reduce inequality and eliminate discrimination.
• “The things once called ‘inevitable’ were actually built on someone’s laborious efforts—and that effort wasn’t necessarily unavoidable,” goes the story.
• Related Link.

12 Keywords for 2025.

• Slow News’ independent editor Kim Nak-ho (Drexel University professor) compiled this year-end special with Capcold Case. Six keywords each for international and domestic trends were selected.
• Rage bait: Similar to Korea’s “aggro” but with a tendency to politicize. While Koreans have become immune to most “aggro,” America is just starting to boil with anger.
• Six seven: A meaningless phrase that suddenly became trendy. We find this nonsense cool, but among young Americans, it functions as a marker to distinguish themselves from older generations.
• Kavanaugh Stop: The Trump administration’s blatant racism and human rights abuses were endorsed by the Supreme Court. Framing resistance by invoking Brett Kavanaugh (Supreme Court Justice).
• Genocide: There is no other way to describe the atrocities in Gaza. Yet even the dignified New York Times fears the anti-Semitism label. Calling it a ceasefire while people are still dying is a deception.
• AI bubble: The stakes are too high to just geek out over Studio Ghibli memes. A giant “financial theater” is unfolding—buying shares, selling products, pushing orders, flipping stakes, and devouring each other. Next year, anxiety might turn to suspicion.
• Affordability: The zeitgeist coined by Eric Adams (New York City mayor-elect). It’s not about becoming rich; it’s a desperate plea to survive. Could similar slogans appear in next year’s Seoul mayoral election?
• Purging sedition: This requires as much political finesse as Moon Jae-in’s (former president) purge of remnants of past corruption. Purging sedition should be a beginning, not an end. What kind of world do we want to build? We need more discussion. On a 10-point scale: Lee Jae-myung (president) scores 9, the Democratic Party 5 (Is this really the best they can do?), the People Power Party 0 (Not even worth 1 point), and the judiciary 7 (The Constitutional Court dragged the score down).
• Yoon Again: A regression of conservative politics. It risks spiraling beyond cult-like worship into extremism.
• Not night work, but dangerous work: Debating whether Coupang offers good jobs distracts from the real issue. While late-night emergency rooms are a social exception for the community, early-morning deliveries treat workers’ health as a commodity to profit from customer convenience. Defining it as “dangerous labor” is the first step toward meaningful discussion.
• Personal data: A serious issue, but the sense of urgency is fading. Korea and Turkey are the only OECD countries without class-action lawsuits.
• Online lynching: Less than a year has passed since actress Kim Sae-ron left the world. The online mob’s court still only offers acquittal or execution.
• K-pop Demon Hunters hype: The global hit’s secret lies in cultural hybridity. The strength and coolness of border-crossers, the new and confident identity of multicultural citizens—this is where the animation’s power lies. Kim Nak-ho suggested, “Rather than taking simple pride in promoting Korean cultural excellence, reflecting on the multicultural boundary-crossing that ‘K-pop Demon Hunters’ embodies would be better.”
• Related Link.