We Might Need to Worry About World War III.

• Denmark has deployed additional troops to Greenland. The U.S. sent military aircraft.
• The U.S.-Europe conflict is growing ominous. After Trump threatened additional tariffs on eight European countries that stationed troops in Greenland, the EU is considering retaliatory tariffs. This differs from last year’s first tariff war.
• Donald Trump (U.S. President) claimed, “The world will not be safe unless we have full control over Greenland.”
• He also posted an AI-generated image of planting the American flag in Greenland on Truth Social.
• The Wall Street Journal noted, “Most EU member states still seek to avoid a costly divorce from the U.S.” France and Germany are taking a hard line, while the UK insists “dialogue comes first.”
• Greenland is preparing for a potential U.S. invasion. The government even advised stockpiling five days’ worth of food. The Danish government decided to sell all its U.S. Treasury bonds—one of America’s critical vulnerabilities.
• Ursula von der Leyen (European Commission President) said in a World Economic Forum (WEF) speech, “The tectonic shifts Europe is experiencing are an opportunity” and “a prerequisite for building a new form of European independence.” This implies Europe must confront the U.S. more assertively.
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Russia Is Behind It All.

• BBC has analyzed that Russia is inciting Trump.
• Russia wants conflict between the U.S. and the EU. If the U.S. attacks Greenland, it strengthens Russia’s justification for invading Ukraine.
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Trump Risk Triggers Stock Plunge, Gold Prices Soar.

• New York stock markets crashed while U.S. Treasury yields rose. The Nasdaq and S&P 500 dropped 2.4% and 2.1%, respectively. All seven Magnificent stocks reversed into declines.
• Gold prices are also breaking records.
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What Matters Now.

“It’s Like Firing a Shot at North Korea.”.

• President Lee Jae-myung (President) made this remark regarding the civilian drone sent to North Korea. Suspicions have also emerged that the Intelligence Command provided support.
• Circumstantial evidence has surfaced that the graduate student claiming responsibility for sending the drone received operational funds from a human intelligence network. He ran online newspapers called NK Monitor and Global Insight, and there are indications that Intelligence Command funds may have flowed into these outlets.
• During a State Council meeting, Lee Jae-myung asked, “Is there anyone aware of a clause that punishes individuals for acts of aggression?” No one responded. He then answered himself: “It’s called the ‘preparatory conspiracy crime.’” Article 111 of the Criminal Act stipulates, “A person who conspires with a foreign power shall be sentenced to imprisonment for not less than one year.”
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Delivery Riders Are Workers Too.

• The Ministry of Employment and Labor is pushing for a package legislation to protect rights-void workers—the so-called “Basic Law for Workers.”
• Riders, freelancers, and 8.7 million others are the targets.
• If labor is provided, the person is presumed a worker, and employers must prove otherwise. It’s a worker presumption system. The intent is good, but it’s limited to applying only during legal disputes. Labor groups argue that the Labor Standards Act’s definition must be revised.
• Kyeongyang Shinmun evaluated, “It’s post-factum relief premised on civil litigation—lacks practical effectiveness.” Oh Min-kyu (Director of the Liberation Research Institute at the Labor Issues Research Institute) pointed out, “The likelihood of newly recognizing cases previously unrecognized as workers is not high.”
• Chosun Ilbo noted, “It’s a law that exists only in Korea.”
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Han Duck-soo’s Ruling Today: Martial Law Equals Rebellion?

• The key issue is whether emergency martial law can be recognized as a riot aimed at disrupting the constitutional order.
• In the precedent of the Chun Doo-hwan rebellion case, the intent to disrupt the constitutional order was acknowledged if the National Assembly, government, courts, and other state institutions were forcibly overthrown or rendered incapable of exercising authority.
• A riot includes not only the use of physical force but also acts that instill fear or threaten to make resistance impossible.

Lee Hye-hoon’s Hearing Stalls.

• Today is the legal deadline. The People Power Party insists document submission must come first.
• If the deadline is missed, the president can set a new 10-day deadline and request again. The Blue House maintains the hearing must proceed.
• The Democratic Party is visibly flustered. Holding a hearing unilaterally would look undignified.
• Lee Jae-myung (leader) also faces pressure to avoid forcing the appointment. After all, Lee Hye-hoon (nominee for Minister of Planning and Finance) is a People Power Party figure. The strategy might have been to emphasize a pragmatic government and balanced appointments, then drop her at the right moment—but the timing has slipped slightly.

Lee Jae-myung Assault Case: South Korea’s First State-Recognized Terrorism?

• It is the first case since the Anti-Terrorism Act was enacted. The Korea Daily pointed out, “It’s hard to avoid controversy over self-investigation and ordered investigations.”
• Kim Min-seok (Prime Minister) emphasized, “The investigation and probe were sloppy and took too long,” adding, “We must approach this with the resolve to completely rule out the possibility of terrorism.”
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Deep Dive.

“Public Broadcasters and Cable News Channels Siding with Prosecutors—Violating Neutrality?”.

• Lee Jae-myung (leader) said this during a State Council meeting.
• When Kim Jong-cheol (Chairman of the Broadcasting and Media Communications Committee) responded, “It’s restrictive for the state to uniformly judge neutrality,” Lee Jae-myung emphasized, “It’s true that it can’t be allowed infinitely,” adding, “We must have a sense of problem-awareness.”
• “If I create an internet media outlet and use it as I please, that should be 100% guaranteed as freedom of expression. But at minimum, public broadcasters and cable news channels must uphold neutrality, fairness, and public interest.”
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Kang Seon-woo’s First Investigation After Three Weeks.

• Kang Seon-woo (Independent lawmaker) denies meeting Kim Kyung (Seoul City Council member) and his chief of staff (from Kang Seon-woo’s office) together.
• Kim Kyung claims the chief of staff first asked, “Give me one envelope,” and that he delivered it directly to Kang Seon-woo. Kang Seon-woo contradicts this, saying he was later briefed that the chief of staff had received the money. The chief of staff, meanwhile, claims the two discussed matters and loaded the item into a car while he was away.
• Kang Seon-woo told reporters, “I have lived by principles,” but provided no specifics. He returned after an all-night investigation.
• There are reports that the money received from Kim Kyung was deposited into a lease guarantee fund.
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“A Glimpse into NH’s Management: A Chaebol-Style Presidency of Squandered Billions.”.

• Ha Seung-soo (lawyer, NH Audit Committee member) assessed, “A culture of reckless spending and wasteful practices was pervasive throughout the organization.”
• The issue lies in the vulnerable governance structure of electing a CEO through elections. Ha pointed out, “The mindset that ‘winning first place is all that matters’ fuels the temptation of money-driven elections.”
• Interest-free funding is another problem. The central association head controls local cooperatives through financial support. Since more funds are allocated to director cooperatives, central association directors have no choice but to remain loyal to the president. Ha criticized, “The board should rigorously verify corruption and inefficiencies through intense discussions, but they’ve abandoned this duty and are merely collecting sweet bonuses.”
• The government isn’t unaware—it’s a decades-old scandal. Ha emphasized, “Reform becomes difficult as a presidency nears its end,” adding, “We must not miss the golden window for reform.”
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Another Take.

Jang Dong-hyeok’s Week-Long Hunger Strike: No Exit Strategy.

• His hunger strike, launched to demand a special investigation into the Unification Church and nomination fund probe, is losing momentum.
• The People Power Party is discussing an exit strategy: accept a special investigation into Shincheonji and end the fast. Some argue the Unification Church probe should proceed separately.
• There are also calls for Han Dong-hoon (former People Power Party leader) to apologize and resolve the issue separately from the dual special investigations, but he reportedly refused.

Operation Pilates: Shincheonji’s People Power Party Enrollment Manual Existed.

• Hong Joon-pyo (former Daegu mayor) once claimed a 100,000-member enrollment theory, saying he heard it directly from Lee Man-hee (Shincheonji leader).
• The allegation is that Shincheonji followers supporting Yoon Suk-yeol in the 2022 election collectively joined the People Power Party.
• Former Shincheonji executives interviewed by JoongAng Ilbo confirmed there was indeed an organized group enrollment.
• Specific claims emerged, such as verbal instructions to avoid leaving traces and receiving reports via Telegram.
• One former regional leader said, “There were assigned quotas for party membership by region,” adding, “Even if not 100,000, it would be over 50,000.”
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“Not Personal Vengeance, But Public Retribution.”.

• Cho Kuk (Representative of the Cho Kuk Innovation Party) gave an intriguing interview to Kyunghyang Shinmun.
• When Park Joo-yeon (Senior Reporter at Kyunghyang Shinmun) asked, “There are criticisms that your politics is based on personal vengeance rather than social justice,” Cho Kuk replied, “The anger I felt is not merely personal emotion but a philosophical ressentiment (resentment, especially in Nietzschean terms—the anger of the weak toward the strong), and such anger is justified.”
• He said, “I felt a burning rage when Yoon Suk-yeol and Han Dong-hoon’s faction tried to dismantle the Moon Jae-in administration.” “The resolve to deliver public retribution against them was the powerful force that sustained me,” he explained.
• When asked about his potential presidential bid, he warned, “If one becomes consumed by the desire for power, they will inevitably perish like Yoon Suk-yeol,” adding, “I strive not to be devoured by such desires.”
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Few Countries Enforce Mandatory Share Buybacks.

• Delaware, U.S., recognizes treasury shares as assets. Globally, few countries mandate their destruction.
• Companies can use surplus funds for R&D or equipment investment—but also for buying back shares. Jang Shin-seop (National University of Singapore professor) noted, “Policies lacking logic or evidence often conceal vested interests.”
• It’s a call to reconsider: Are we pushing shareholder returns as a corporate priority while sidelining production capacity, innovation, and timely supply?
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The Fix.

Reviewing Free Sanitary Product Distribution.

• “It seems true that Korean sanitary products are 40% more expensive than overseas. Shouldn’t they make and sell cheaper ones so even the poor can use them?” These were Lee Jae-myung’s (President) remarks at the State Council meeting.
• “Consider outsourcing production and providing free distribution to specific groups,” he instructed.

Not a Unified Special City, but a Unified Special Province.

• Megacities aren’t created by declaration alone. The “5+3+Special” plan ultimately means selecting all eight provinces. What synergies exist here?
• Lessons must be learned from the failures of Masan-Changwon-Jinhae and the innovation cities.
• Lee Chang-moo (Hanyang University professor) emphasized, “The ‘unified administrative province’ should be used as a transitional stage, focusing on the ‘unified administrative city’ as the actual megacity zone.”
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If Manufacturing Survived in Geoje, Gumi, and Yeosu, Population Could Have Grown by 5 Million.

• The issue is jobs. Analysis shows that if productivity in 12 non-capital manufacturing cities had been maintained, the capital region’s population share would have been 2.6 percentage points lower.
• If these cities had matched the national average productivity growth rate, the capital region’s population share would have decreased by 6.5 percentage points, and regional population inflows could have increased by up to 5 million.
• KDI proposed, “To reduce the gap between the capital and non-capital regions, a certain degree of disparity must be tolerated.” It’s a call for a selective approach—concentrating resources on a few cities.

ICYMI.

Manhattan’s Baked Sweet Potatoes.

• Baked sweet potatoes are popular in the U.S. They serve as a meal solution for around $2–3.
• Given U.S. prices—McDonald’s meals costing $5–11 and a single salad nearing $20—this is a remarkably affordable option. “A hip, minimalist one-meal solution,” as it’s been described. Over 3.5 million Instagram posts are dedicated to baked sweet potatoes.
• The New York Post introduced them as “crispy on the outside, naturally caramelized and sweet inside, with high satiety and nutrition including beta-carotene, vitamin C, and potassium.”
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Tissue Friends.

• It refers to disposable, light relationships where people meet briefly and part like tissues used and discarded when needed.
• Among MZ generations who feel burdened by interpersonal relationships, one-time gatherings are increasing. These include attending performances together or casually chatting before parting. No business cards or phone numbers are exchanged.
• There are also gatherings where people eat together, split the bill separately, and go their ways.
• Mogakjak is a shortened term meaning “gathering to work overnight individually.” They meet at cafes, work, and leave by the first train.

Dduckku: The Lipstick Effect in a Downturn.

• It may be a sign of recession: enthusiasm for small but impactful products.
• Yang Hong-joo (Korea Ilbo columnist) warned, “In a self-employed republic with over 30,000 chicken franchises, ‘bosses’ who rashly jump into dduckku might end up repeating the mistakes of bubble tea and tanghulu entrepreneurs.”
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Worth Reading.

Taiwan’s Semiconductor-Driven Economy.

• Last year’s growth rate was 7.3%. It is highly likely to surpass South Korea in per-capita GDP of $40,000.
• Last year, IT exports surged 53%, but other sectors shrank by 0.2%. Semiconductors account for 74% of total exports—double South Korea’s 37%. A TSMC optical illusion.
• The labor income share is also low. South Korea’s monthly wage is around 4.2 million won, while Taiwan’s is about 2.9 million.
• Taiwan has maintained export competitiveness by keeping its currency weak. The Economist noted, “For Taiwan, which imports most of its food and fuel, a weaker currency means a transfer of income from low-income households to export firms.”
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To Build Anew, We Must First Break Down.

• “Distrust in the judiciary is a sign that a society’s demise has begun.” These were the words of Honoré de Balzac (writer).
• Balzac also said, “Break the current judicial system and rebuild it on a different foundation. But never abandon trust in the judiciary.”
• Park Yong-hyun (Hankyoreh columnist) interpreted this as, “If judicial trust is completely shattered, society meets its end. Therefore, we must preserve judicial trust at all costs. If necessary, we must not hesitate to take bold measures.”
• The message is clear: do not settle for superficial fixes.
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When Explanations Are Not Enough, Decisions Are Needed.

• “The system made the judgment, procedures followed regulations, and individuals were merely enforcers of the rules”—this explanation has been repeated.
• As a result, there were accidents but no decision-makers, outcomes but no subjects of responsibility.
• Coupang is in that situation now.
• Lee Sang-heon (ILO Director of Employment Policy) pointed out, “Explanations seem to mediate conflict, but in reality, they postpone decisions.”
• “Decisions, on the other hand, are always uncomfortable. They harm some and feel unfair to others. That’s why we pile on more explanations and push decisions further away.”
• Lee Sang-heon emphasized, “What’s needed now is not another explanation, but changing the direction of explanations.”
• “It’s about unearthing the moment of decision buried between systems and individuals, and summoning the entities that must bear the consequences of those choices.”
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