Jang Dong-hyeok’s Too-Late Apology.

• It lacked even minimal sincerity.
• “Martial law was an inappropriate measure for the situation. We caused great confusion and inconvenience to our citizens. I deeply feel responsibility and sincerely apologize to the public.”
• After saying this, he added, “If we share the goal of stopping the dictatorship of the Lee Jae-myung regime, we will join forces with anyone.” No mention of Yoon Suk-yeol.
• He suggested, “We could even change the party’s name,” but critics argue, “It’s not just interior renovations—we need a full-scale reconstruction.”
• The *Hankyoreh* called it an “election-season apology.”
• In an editorial, the *JoongAng Ilbo* noted, “Apologizing for martial law while refusing to clarify a break from Yoon Suk-yeol (former president) inevitably dilutes the apology’s impact.”
• Related Link.
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What Matters Now.

“Stand on the Right Side, as Confucius Said.”.

• Lee Jae-myung (President) said this during a press briefing. When asked what message Xi Jinping (Chinese President) meant by “standing on the correct side of history,” he replied, “It is right to strive to stand on the historically correct side.”
• There were interpretations that this could be pressure to side with China amid US-China tensions, but Lee summarized, “We must naturally respect each other’s core national interests and major concerns.”
• In an editorial, Chosun Ilbo criticized, “Even as a joke, it was reckless and inappropriate.” Xi Jinping told Lee to choose sides clearly, while cutting rare earth exports to Japan to drive a wedge. This is no time for jokes.
• Related Link.
• Related Link.

“What Should We Do About It?”.

• “What should we do about it?” was Lee Jae-myung’s (President) response to the question, “How do you view the public’s backlash or concerns toward China?”
• “It is clear that we must be vigilant and strictly sanction baseless and unnecessary hate-mongering. But the criminal actor at Coupang is Chinese—so what? If it were Japanese, would you start hating Japanese people then? If it were American, why not do the same? It’s all baseless.”
• The issue is not the employee’s nationality but Coupang’s responsibility.
• Lee Jae-myung pointed out, “Anti-China sentiment has caused greater harm to South Korea.” The Dong-A Ilbo’s decision to feature this remark as the lead headline on its front page is noteworthy.
• “How can we proceed by making reckless remarks like ‘China meddled in the election’ and hurting feelings? We intend to manage relations based on mutual respect and the principle of prioritizing each nation’s interests.”
• Related Link.

Partial Withdrawal of Chinese Structures in the West Sea.

• Fine dust and the West Sea structures also came up.
• “It seems China has responded surprisingly quickly by transitioning to renewable energy.”
• “Regarding the West Sea issue, some people make strange claims about ‘ceding’ the sea, but we’re practically discussing it by drawing a clear line. There are two aquaculture facilities—one is to be relocated.”
• Kyeongyang Shinmun assessed, “They’ve shown some level of goodwill.” For now, it’s difficult to cite an international law violation. The issue arose because the area lies on the Chinese side of the median line, and no boundary was ever agreed upon. As an overlapping Exclusive Economic Zone (EEZ), both countries can legally fish there.
• According to The Hankyoreh, it’s not a simple matter. South Korea proposed drawing a median line based on the EEZ, but China insists on a straight line along the 124th meridian. Analysis suggests Beijing is unlikely to agree.
• Related Link.
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“Stay Neutral in a Fight With Reason, or Risk Being Hated.”.

• This was said regarding China’s export controls on rare earths to Japan. Lee Jae-myung (President) stated, “Our role is currently limited.”
• He is scheduled to visit Japan imminently. The message is one of neutrality.
• According to Nomura Research Institute, if China maintains rare earth export controls for three months, losses will reach 660 billion yen. JoongAng Ilbo analyzed that annual losses could reach 24 trillion won.
• Lee Dong-ryul (Dongduk Women’s University professor) pointed out, “China is using Japan as an example to set redlines on the Taiwan issue.”
• Related Link.

KOSPI Doubles in Nine Months.

• It hit bottom at 2,294 last April and has risen sharply.
• Jensen Huang (NVIDIA CEO) said in his CES keynote, “The world will need more factories called AI factories,” adding, “This is a very favorable situation for memory semiconductor suppliers,” which boosted semiconductor stocks.
• In New York, Micron and SanDisk surged 10% and 28%, respectively.
• Under the best-case scenario, projections suggest it could reach up to 6,000.
• There are pessimists too. Kim Young-ik (former Sungkyunkwan University professor), known as “Dr. Doom,” forecasted, “If nominal economic growth is around 5% this year, the appropriate KOSPI level would be around 3,500.”

KOSPI’s K-Shaped Growth.

• Only the strong performers are thriving. Even yesterday, when the index hit a record high, 200 stocks rose while 686 fell.
• Export-driven sectors are leading, while domestic-demand sectors remain sluggish.
• Yang Hyun-mo (DS Investment & Securities researcher) analyzed, “Last year’s rise was not driven by one-off positive news but by structural profit growth in four core manufacturing industries: semiconductors, shipbuilding, power, and defense.”

Deep Dive.

“Greenland, We Won’t Attack—But We Want to Buy It.”.

• Stephen Miller (White House Advisor) claimed, “No one will militarily confront the U.S. over Greenland’s future.”
• Greenland is a Danish territory. Mette Frederiksen (Danish Prime Minister) warned, “This would mean the end of NATO.” European Union leaders also issued a statement: “Only Denmark and Greenland can decide on their own matters.”
• The White House emphasized, “Greenland is a top priority for U.S. security.” Greenland has emerged as a strategic stronghold ahead of Arctic passage development. It is true that Russia and China have deployed submarines around Greenland.
• Le Monde pointed out, “If security is a concern, the agreement could be revised to grant the U.S. greater discretion without undermining Greenlanders’ sovereignty.”

“Securing 50 Million Barrels of Venezuelan Crude.”.

• Trump used the term “keep.” He said, “Unlike Iraq, George Bush (former U.S. President) couldn’t keep it, but we will.”
• In an MSNBC interview, he stated, “The oil will be sold at market price, and I will manage the proceeds so that both Venezuela and the American people benefit.”

“I’m Being Held Back,” Yoon’s Rambling.

• “Even if we declare martial law, those people will rush in to lift it within a day or two… Couldn’t we end up giving the opposition a counterattack? I actually expected such talk and thought it could happen, but no one is saying it.”
• These are Yoon Suk-yeol’s (President) actual words.
• Kim Yong-hyun (former Minister of National Defense) chimed in, “No one mentioned such a thing.”
• Yoon mused aloud, “They keep opposing, I keep persuading—how could I say it? I’m being held back by these people.”
• Related Link.

“How Can You Talk of Liberal Democracy While Cutting Off Speech?” Ji Gwi-yeon Changes Tone.

• “How can those who interrupt others’ speech talk about liberal democracy? That’s not right.”
• Ji Gwi-yeon (Seoul Central District Court judge) was known for her uniquely kindergarten-teacher-like tone, but yesterday’s trial saw her erupt in anger. The remark came after Yoon Suk-yeol’s defense team repeatedly challenged the special prosecutor’s right to speak.
• When Lee Ha-sung (lawyer) said, “The judge suddenly got angry, and I’m not sure if other lawyers can even speak now,” Ji clarified, “I always speak with a smile, so if I speak a bit strongly, people say I’m angry.”

Prosecutors Seek Arrest Warrant for Kim Byung-joo.

• Prosecutors investigating the Homeplus scandal have requested an arrest warrant for Kim Byung-joo (MBK Partners chairman).
• MBK Partners, Homeplus’s largest shareholder, is accused of issuing 82 billion won in short-term bonds last February despite foreseeing a credit rating downgrade for Homeplus, then filing for corporate rehabilitation and causing losses for bond investors.

Another Take.

Conditions Attached to Canada’s 60-Trillion-Won Submarine Project.

• ThyssenKrupp, a German company, is competing with South Korea’s Hanwha Ocean.
• Mark Carney (Canadian Prime Minister) asked during last October’s Gyeongju APEC meeting whether South Korea could build an automobile factory in Canada. Germany had already proposed building an electric vehicle battery plant there.
• Cha Se-hyun (JoongAng Ilbo columnist) analyzed, “I worry we’re heading toward defeat.” Canada brought an 18-point economic cooperation package, but there’s no government-level coordination in place.
• Related Link.

Disabled Subway Protests Paused Until Local Elections.

• Kim Young-bae (Democratic Party lawmaker) negotiated with Park Kyung-seok (Representative of the National Disability Discrimination Abolition Alliance) and others.
• The alliance demanded guaranteed mobility rights and increased deinstitutionalization funding, but the budget—previously set at 26 billion won—was slashed to 2.5 billion won. Only institutional disability budgets increased.

The Fix.

Where Do the Lenok Trout of the Sancheoneo Festival Go?

• Last year, 1.81 million people visited the Hwacheon Sancheoneo Festival.
• 1.56 million tons of lenok trout were used, with those in good condition sent to restaurants after the festival and the rest discarded into the river.
• Dead lenok trout become raw material for fish cakes and similar products—16 tons of fish cakes, 80 tons of canned goods, and 19 tons of fish sauce were produced.
• 13 tons of the trout dumped into the river were later collected. Critics warn of severe mass deaths and water pollution.

Lifetime Medical Costs: 246.56 Million Won.

• This is the total of out-of-pocket expenses and health insurance benefits combined.
• Women incur 214.74 million won, while men face 182.63 million won—women’s average lifespan is 5.8 years longer.
• The period spent dependent on hospitals before death is steadily increasing.
• Lee Soo-yeon (Health Insurance Service researcher) emphasized, “Extending healthy lifespan—years lived without illness—is essential to reducing the fiscal shock of an aging society.”

Yongin Industrial Complex: Does It Have a 20GW Plan?

• Yongin Semiconductor Industrial Complex is heating up.
• Ahn Ho-young (Democratic Party lawmaker), who declared his candidacy for North Jeolla governor, insists, “We must counter Seoul-centric selfishness and ensure Samsung Electronics’ relocation.”
• Kim Sung-hwan (Minister of Climate and Environment) sparked controversy by saying, “I wonder if we should move production to areas with more electricity.”
• Yongin Industrial Complex is divided into SK Hynix’s general-purpose complex under construction in Wonsam-myeon and Samsung Electronics’ national complex planned for Idong-eup and Namsa-eup. The general complex began construction on its first fab in February last year. The national complex aims for a second-half-of-2024 groundbreaking.
• Saemangeum in North Jeolla has low power self-sufficiency, while Solar City in South Jeolla lacks water. North Gyeongsang and South Chungcheong—both with high power self-sufficiency—are mentioned as alternatives.
• Ha Seung-soo (representative of the Public Interest Law Center Nongbon) said, “Beyond the already constructed factories, remaining plans should be scrapped or minimized. The government, which supplies power, water, and land, must lead a complete reevaluation of semiconductor complex locations.”
• Park Sang-in (Seoul National University professor) proposed, “Build two in Yongin and relocate the remaining eight—two initially to the Honam region, then six to Yeongnam.”
• “Korea must transition industries, achieve balanced development, prevent regional decline, and reduce Seoul’s overcrowding. Relocating Yongin’s complex could be a masterstroke for multiple values.”
• Related Link.
• Related Link.

How a 1MW Solar Plant Transformed Guyang-ri.

• Residents of Guyang-ri, Yeoju, eat free lunch daily at the village hall. With about 120 villagers, 20–40 usually attend.
• There’s also a free shuttle bus. Called the “Happiness Bus,” it runs to the city every 30 minutes.
• The free meals and bus service are funded by profits from the 2024-built solar power plant. Villagers covered 10% of the 1.67 billion won project cost, with 90% financed by loans. No government subsidies were used.
• Revenue? Winter brings 15 million won monthly, summer up to 34 million. Even after fixed costs (11 million won for loan principal, interest, and maintenance), significant profit remains.
• “If individuals had invested, they’d demand returns proportional to their shares, leading to conflicts over who gets more. In Guyang-ri, the village collectively owns the solar plant, so benefits aren’t concentrated. Since profits are used fairly for all residents, even initial opponents are now satisfied,” explained Jeon Ju-young (Guyang-ri village chief).
• Related Link.

ICYMI.

This Year’s Expected Record Highs.

• Semiconductor exports are highly likely to break records. The Bank of Korea also analyzed that 0.4 percentage points of this year’s 1.8% economic growth rate comes from information technology.
• The KOSPI index has already surpassed its all-time high.
• Real estate prices are also likely to keep rising for some time.
• The number of employed people aged 60+ and the “economically inactive” population in their 30s continue to set new records.
• All of this is a result of extreme polarization. The net asset Gini coefficient is likely to worsen.
• Kwon Ki-seok (The Kookmin Ilbo’s social affairs editor) warned, “Polarization in the economy creates wealth and income gaps, which in turn lead to social conflict.” Suicide rates must also be managed.
• Related Link.

No AI.

• Clumsily AI-generated ads often damage brand trust. There’s even the pratfall effect, which suggests people prefer those who show flaws over perfection.
• Some analyses suggest people prefer the imperfect faces of human models over the flawless appearances of AI models.
• Dove, which runs the ‘Real Beauty’ campaign, has declared it won’t use virtual models.
• Lingerie brand Aerie uses ‘No retouching, No AI’ in its marketing.
• Camera brand Polaroid’s marketing slogan was, “AI can’t create the grain of sand between your toes.”
• Choi Soon-hwa (Dongduk Women’s University professor) pointed out, “Thanks to AI technology, achieving visual perfection has never been easier, but the meaning of differentiation through it is gradually diminishing.”
• “Creating and upholding a brand’s philosophy and narrative comes from irreplaceable human insight and experience,” she added.
• Related Link.

Namsan Cable Car Earns 22 Billion Won While Paying 50 Million Won in Fees.

• Namsan Cable Car has been operated exclusively by a company called Korea Ropeway Engineering since 1962.
• The license was originally supposed to be renewed every three years, but the validity period disappeared after the 1978 renewal.
• The annual fee for using state-owned land is about 100 million won—last year, it was reduced to just 50 million won.
• Two families, Han Gwang-su and Lee Gi-seon, split the shares, with no known connection to Park Chung-hee (former president).
• Last year, 1.74 million passengers rode the cable car.
• Choi Chul (Sookmyung Women’s University professor) criticized, “The government is responsible for creating a situation where a monopoly business using public land like Namsan Mountain cannot be controlled.”
• The Korea Forest Service is preparing a revision to the State Property Act that would eliminate the upper limit on national forest usage fees.
• Related Link.

Worth Reading.

An Era Where Hegemony and Bloc Logic Dictate Supply Chains.

• The U.S. has a crude oil refining capacity of 18 million barrels per day. Profitability depends on blending light and heavy crude, but a shortage of heavy crude has forced imports from Canada, Mexico, and Venezuela. If the U.S. secures Venezuelan heavy crude, it could gain control over global oil pricing.
• The push to isolate Venezuela could also be seen as an attempt to undermine the petro-yuan system. China imports Venezuelan crude with yuan settlements as a condition. From the U.S. perspective, reduced dollar dependency risks destabilizing U.S. Treasury prices.
• Kwon Hyo-jae (CEO of COR Energy Insight) warned, “For us, which imports 93% of our energy, such geopolitical upheavals are a matter of survival.” His analysis stresses, “We urgently need a sophisticated response strategy that accounts for potential supply chain disruptions and seismic shifts in cost structures between the Americas energy fortress and the Eurasia energy bloc.”
• Related Link.

System Error and Human Error.

• Kim Byung-ki (former Democratic Party floor leader) was the head of the primary candidate verification committee. When the petition surfaced, it went to Kim Byung-ki and quietly disappeared. If this isn’t a system error, what is it?
• Lee Hyung-sang (JoongAng Ilbo columnist) pointed out, “All deviations in the world begin with individuals.” “The moment repeated deviations are reduced to personal issues, signals of crisis are dismissed as mere noise. An organization that mistakes signals for noise loses its self-correcting ability and slowly sinks.”
• Related Link.

What’s the Difference Between Yoon Suk-yeol and Kim Keon-hee?

• There’s no difference in the allegations of receiving money and interfering in nominations.
• Sung Han-yong (Senior Reporter, Hankyoreh) emphasized, “Given Kim Byung-ki and Kang Seon-woo’s steadfast denials, there’s a possibility of evidence destruction or flight,” adding, “Arrest investigations are for such cases.”
• “The party switch or not—it’s irrelevant. What’s needed now is a swift and rigorous police investigation.”
• According to the Korea Daily, Lee Ji-hee (Dongjak-gu council member), a key figure in the Kim Byung-ki allegations, recently replaced her smartphone. There are also concerns that the investigation’s golden time is slipping away.
• Related Link.
• Related Link.