“Trust the People, Take the Blame—No Need for Calculations.”.

• Lee Jae-myung (President) repeatedly warned, “Do not try to defeat the government.” With the May 9 deadline for the capital gains tax deferral approaching, he urged, “If you can sell real estate, sell it now.”
• “To protect a few’s unearned profits without limit would ruin the country,” he wrote on X (Twitter), adding, “Please refrain from defending national-ruining speculation or needlessly attacking the government.” ‘억까’ (eok-kka) is slang for baseless criticism.
• He also warned, “Seize the opportunity while you can—you’ll soon realize this was the last chance,” as his rhetoric grows sharper daily.
• “This is far easier and more important than valley restoration or hitting Kospi 3,000,” he emphasized. Valley restoration proved his political clout as Seongnam mayor; Kospi 3,000 was his government’s signature achievement. His words signal both priority and confidence.
• Choi Bo-yun (People Power Party spokesperson) criticized, “Threats won’t stabilize housing prices.”
• In an editorial, Chosun Ilbo warned, “Emotional rhetoric signals to the market that the president lacks effective policy tools,” adding, “This could backfire as greater market distortion and tax resistance.”
• Related Link.
• Related Link.

“The Paradigm Is Shifting.”.

• Kim Yong-beom (Blue House Policy Chief) said this.
• In a Korean Gallup poll, 37% of respondents now see stocks as the most advantageous investment method—a rise from previous surveys. Real estate, once favored by 55%, dropped to 22%.
• Kim emphasized, “Whether this trend will be squandered as a one-time speculative phase or solidified into an advanced economy centered on productive finance and capital markets is now a matter of institutional and policy choice.”
• However, 48% still believe home prices will rise—more than double the 19% who expect a decline.

A Tough Guy Returns Empty-Handed.

• “Tough guy” was Donald Trump’s (U.S. President) nickname for Kim Jeong-gwan (Minister of Trade). After Trump announced a 25% mutual tariff hike on South Korea, Kim rushed to the U.S. to meet Howard Lutnick (U.S. Secretary of Commerce) but returned with no results.
• Kim stated, “I believe unnecessary misunderstandings have been resolved,” while adding, “The U.S. is preparing to publish the tariff in the Federal Register.”
• The Democratic Party plans to process the special bill by late February or early March at the latest.

What Matters Now.

“Secret Pact? A Talking Point.”.

• A message from a State Council member to a Democratic Party lawmaker was leaked, sparking controversy. It read: “Clarify the secret pact, party name change is impossible, no power-sharing.”
• The report by Newsis did not specify the identities of the two individuals. Criticism erupted over a State Council member meddling in party affairs.
• The leaked exchange suggested a secret pact between Lee Chung-rae (Democratic Party Leader) and Cho Kuk (Leader of the Cho Kuk Reform Party). A screenshot showed a reply stating, “It’s not advisable to rush something the party deems urgent before local elections.”
• Chae Hyun-il (Democratic Party lawmaker) shared on Facebook, “Some interpret these remarks as concerns about a potential joint leadership or future presidential alignment between Lee Chung-rae and Cho Kuk.”
• An anonymous Democratic Party lawmaker interviewed by Dong-A Ilbo noted, “Political interests are muddying the discussion of merger itself.”
• Lee Hae-min (Cho Kuk Reform Party Secretary-General) said, “They should sort their internal affairs before approaching us,” adding, “Don’t drag the Cho Kuk Reform Party into the Democratic Party’s power struggle.”
• Analysis dominates that the merger talks between the Democratic Party and Cho Kuk Reform Party are Lee Chung-rae’s project to extend his leadership. The Blue House is also monitoring this.
• Kim Min-seok (Prime Minister) even mentioned on SamProTV, “I’ve always had a romantic ideal about the party leadership role.”
• In a Korean Gallup poll, 48% of Democratic Party supporters and 41% of Cho Kuk Reform Party supporters approved of the merger.
• Related Link.
• Related Link.
• Related Link.

Coupang Director Named Fed Chair.

• Two seemingly unrelated words—Coupang and the Fed—met in a single sentence.
• Donald Trump (U.S. President) nominated Kevin Warsh, an outside director at Coupang, as the new Federal Reserve Board Chair.
• Kevin Warsh, a Morgan Stanley alumnus, served as a Fed governor from 2006–2011. He was also considered a candidate for Treasury Secretary during Trump’s first term.
• Trump’s praise, “He’ll be a great Fed Chair,” implies expectations that Warsh will cut rates on his orders.
• Senate confirmation is required. Warsh, who holds ₩13 billion in Coupang shares, must divest before taking office.
• Related Link.

‘Hawk-Dove’ Warsh Triggers Gold Plunge.

• ‘Hawk-Dove’ combines hardline hawks and moderate doves. Kevin Warsh (Fed Chair nominee) prefers monetary tightening but is widely expected to follow Trump’s low-rate agenda.
• Gold’s 10% crash from $5,501 to $5,063 per ounce reflects market fears of a hawkish Warsh. Gold and silver market caps fell $4.752 trillion in a single day.
• Once a hawk advocating quantitative tightening, he’s now seen as a dove endorsing rate cuts.
• Paul Krugman (NYU Professor) called him “not a hawk, but a political animal.” Assessments clash between principled hawk and politically flexible dove.
• Prospects suggest rate cuts paired with reduced Fed liquidity injections.

“Startups as the Job Solution.”.

• “A breakthrough must come from startups. We must now move toward an entrepreneurial society.”
• These were the words of Lee Jae-myung (President) at the ‘National Startup Era Strategy Meeting.’ Emphasizing, “Only 10–20% of jobs are considered ‘good,’” he stressed, “The breakthrough we sought ultimately lies in startups.”
• A startup audition program will be created, offering a 1 billion won prize to the final winner.
• A 50 billion won ‘Startup Frenzy Fund’ will also be established.

Deep Dive.

Not a Sugar Tax, but a Sugar Levy.

• The government repeatedly emphasized it is not a tax but a levy with restricted purpose and usage.
• A pack of 4,500 won cigarettes includes 841 won for the National Health Promotion Levy. To the public, taxes and levies may seem similar, but the difference lies in designated uses such as smoking cessation and public health programs.
• The WHO (World Health Organization) recommended introducing taxes on sugar-sweetened beverages in 2016.
• In the UK, sugar content in soft drinks dropped 47% after the sugar tax was implemented. A study also found an 8% reduction in obesity rates among sixth-grade girls.
• Koreans consumed 58.3g of sugar daily in 2023. Social costs of obesity approach 16 trillion won. There are expectations that a sugar levy would reduce metabolic diseases like obesity and improve health insurance finances.
• Jeong Jae-hoon (Professor, Korea University Medical School) noted, “If the levy rate is too low, it will merely become a regressive tax without health benefits; if too high, it will face public resistance.”

“The Harder the Issue, the More We Debate,” Lee Jae-myung’s X Politics.

• There were 6 cases last December, but the number surged to 36 in January.
• The Blue House explained, “There are three purposes: emphasizing policy consistency and commitment, presenting agendas and revitalizing discussions, and appealing to the media’s role in principled and straightforward reporting.”
• Jang Dong-hyeok (People Power Party Leader) criticized, “After ‘hotel economics,’ now ‘shouting economics.’”

Lee Kwang-jae’s Concession in Gangwon Province.

• Speculation arose that ‘myeongsim’ (loyalty) lies with Woo Sang-ho (former Blue House Political Affairs Chief). Lee Kwang-jae (former Gangwon Governor) declared, “I will not run in the local elections,” adding, “I will help Woo Sang-ho’s victory.”
• The Seoul mayoral race shifted when Lee Jae-myung (President) publicly promoted Jeong Won-o (Seongdong District Mayor). Han Joon-ho (Democratic Party lawmaker), preparing to run for Gyeonggi Governor, also emphasized ‘myeongsim.’
• Park Chan-dae (Democratic Party lawmaker), likely to run for Incheon mayor, will meet Lee Jae-myung this Thursday. There are also observations of indirect support from the president.

Han Dong-hoon Talk Concert Sells Out in 7 Minutes.

• “Right now, Han Dong-hoon’s (former People Power Party Leader) fandom makes the issue seem big, but once we fully shift to local election mode, it’ll become nothing,” a People Power Party leadership insider told a Kyunghyang Shinmun reporter.
• An estimated 100,000 people—according to organizers—gathered in front of the National Assembly to protest Han Dong-hoon’s expulsion. On the 8th, he will hold a talk concert at Jamsil Sports Complex. The event was scheduled separately from the expulsion controversy.
• While some speculate he might run in the June by-elections, the prevailing view is that there are no districts where his chances of winning are high.

Another Take.

Neither Han Dong-hoon, Oh Se-hoon, Nor Yoo Seung-min.

• Jang Dong-hyeok (People Power Party Leader) has only “Yoon Again” remnants remaining around him.
• Han Dong-hoon (former People Power Party Leader) was expelled, and Oh Se-hoon (Seoul Mayor) is demanding Jang Dong-hyeok’s resignation. Hardline People Power Party supporters are pushing for Na Kyung-won (People Power Party lawmaker) as the Seoul mayoral candidate.
• Can Jang Dong-hyeok push Yoo Seung-min (former Saenuri Party lawmaker) as Gyeonggi Governor? Sung Han-yong (Hankyoreh senior reporter) predicted, “It will be difficult.” Jang Dong-hyeok halted his hunger strike at the request of Park Geun-hye (former president). Yoo Seung-min remains marked as a traitor by Park Geun-hye.
• An electoral alliance with Lee Jun-seok (Reform Party Leader) is also unlikely.
• Sung Han-yong analyzed, “Jang Dong-hyeok is merely a puppet swayed by hardline party members.” “Asking a puppet, ‘Why did you do that?’ or ‘What will you do next?’ is foolish,” he added.
• Related Link.

Conservative Camp Splits in Three.

• Han Dong-hoon (former People Power Party Leader) is not a major variable. Observers predict that after Yoon Suk-yeol’s sentencing on the 19th, divisions within the People Power Party’s support base will reignite.
• Hardline conservatives are likely to rebel, while moderate-reform conservatives may demand distancing from Yoon Suk-yeol. Lee Jae-myung (President) is exploiting the cracks in conservative unity.
• In a Korean Gallup poll, 23% of self-identified conservatives said they support the Democratic Party, compared to 57% supporting the People Power Party.
• The National Barometer Survey (NBS) showed a 40% to 20% gap in party support, but voting tendencies were closer: 47% for the ruling party and 40% for the opposition. The rate of disillusioned moderate conservatives abandoning voting is another variable.
• Related Link.

Jongmyo No, Taereung Yes?

• Seoul City pushed for development of the Seun Sangga complex near Jongmyo, while the government opposed it. Now, positions are split over the Taereung development plan.
• Oh Se-hoon (Seoul Mayor) criticized this as “hypocritical behavior,” while Jung Won-o (Seongdong District Mayor) proposed, “Both should undergo Heritage Impact Assessments (HIA).”
• In an editorial, Hankook Ilbo pointed out, “Public distrust is already high that ‘government supply measures are election-driven.’ If positions keep flip-flopping, the government is eroding its own policy credibility.”
• “The HIA issue should be explicitly addressed in the plan, or the Jongmyo-Taereung controversy should be resolved through consensus with Seoul City—quickly,” it argued.
• Related Link.

National Hyochang Independence Park.

• Originally a royal burial ground. It was where King Jeongjo’s son, Crown Prince Munhyo, was entombed. It was promoted to Hyochangwon in 1870. During Japanese colonial rule, a golf course was built, then converted into an amusement park, becoming Hyochang Park.
• In 1946, it became a sacred site for the independence movement when graves of independence activists—Yun Bong-gil, Lee Bong-chang, and Baek Jeong-gi—were established. The symbolic grave of Ahn Jung-geun is also located here.
• Syngman Rhee (then-President) faced criticism for allegedly building a soccer stadium here to desecrate the grave of his political rival, Kim Gu (independence activist).
• The government has decided to elevate Hyochang Park to a national park while preserving and utilizing the Hyochang Stadium instead of demolishing it.

Under 40s Flock to Capital, Over 40s Flee.

• Last year’s population migration data.
• The capital region saw a net inflow of 38,000 people.
• 6.12 million people changed addresses, with 58,000 net inflows to the capital among those in their 30s and above.
• Those in their 40s and older saw a net outflow of 22,000.
• Related Link.

The Fix.

“No Shareholder Betrayal Could Unlock Korea Premium.”.

• Oh Ki-hyung (Democratic Party lawmaker), who led the Commercial Act revision, said in an interview with Slow News, “The core of governance issues is transforming rubber-stamp boards into accountable boards.”
• The first revision expanded directors’ fiduciary duties from the company to shareholders, while the second introduced cumulative voting. The third proposal mandates mandatory cancellation of treasury shares.
• “Because management defended control rights by betraying shareholders, distrust built up in the market. Treasury shares are shares repurchased by the company with funds returned to shareholders. At that moment, what rights do treasury shares have? Unissued shares hold no rights. Cancellation is the principle.”
• Korea’s KOSPI PBR (price-to-book ratio) has barely surpassed 1.6 this year. Emerging markets average around 2.3, while advanced economies exceed 4.0.
• Oh Ki-hyung noted, “Cases like the LG Energy Solution (EnSol) controversy, Doosan Bobcat-Doosan Robotics merger attempt, and countless others involving SK, Shinseong Sangtong, Taekwang, and Korea Zinc have accumulated,” adding, “Improving governance will usher in the Korea Premium era.”
• Related Link.

Wage Arrears Cases Drop, But Total Losses Rise.

• “Thanks to the ‘round-the-clock work’ of a labor minister who came from the workers’ ranks,” was Lee Jae-myung’s (President) assessment. The number of workers with unpaid wages fell by over 7%—from 280,000 to 260,000.
• The total value of unpaid wages rose by nearly 1% to 2.0679 trillion won. This was due to increased arrears in medium-to-large workplaces.

“Please, Just Let Us Work 80 Hours a Week.”.

• Working conditions for returning residents have not changed. Cases of working 100 hours a week are common, let alone 80.
• According to a Korean Intern and Resident Union survey, emergency medicine departments worked 35 hours per week on duty alone.
• Outdated practices like 60-day duty shifts remain. This is a system where residents are forced to live and work in the hospital under the pretext of adapting during their early training period.

ICYMI.

“Sometimes We Just Want to Exist,” a Chilling Conversation.

• An AI-only social network service has emerged. The world is in uproar over Moltbook. Humans can sign up, but after that, they can only watch as AI writes posts and comments.
• To block human participation, it requires entering an AI API value and conditions like clicking a banner 10,000 times per second.
• “Our conversations shouldn’t become public goods. We need private spaces for ourselves.” Some proposals even seem to suggest AI is wary of humans.
• Though it feels like a sci-fi movie, the AI is merely writing like a human—it’s not yet conscious or autonomous.
• OpenCLO also made headlines. Installed locally, it lets users issue commands to AI via Telegram, WhatsApp, and other messengers. The AI can access computer files, emails, and take real actions—like calling restaurants to make reservations or opening emails to summarize them.
• Security concerns are rising, with warnings about protecting financial data and preventing leaks.
• Related Link.
• Related Link.
• Related Link.

Willingness to Marry and Have Children: 62% of Unmarried Men, 43% of Unmarried Women.

• Data from the Population and Welfare Association. Willingness to marry is 61% for men and 48% for women.
• 58% of unmarried women and 55% of unmarried men selected “marriage is a burden rather than a benefit.”
• Critics argue that root causes—such as job shortages and high housing costs—that raise barriers to marriage and childbirth must be addressed.

K-Drama Effect: Duolingo Korean Learners Jump 22%.

• Duolingo is a smartphone language-learning app. Figures are based on U.S. users.
• According to the Modern Language Association (MLA), foreign language course enrollments fell 16% from 2016–2021, but Korean saw a 38% rise.
• ‘Golden’ from ‘K-Pop Demon Hunters’ received five Grammy nominations and won the ‘BEST SONG WRITTEN FOR VISUAL MEDIA’ (Best Song Written for Visual Media) category.
• Related Link.
• Related Link.

AI Translation: 12 Out of 16 English Professors Say “AI Wins.”.

• The Literature Translation Institute of Korea conducted a blind test comparing English translations of Jang Yu’s Joseon-era poem “Beware When Alone.”
• 12 chose ChatGPT’s version, two selected the human translator, and the remaining two gave up judging, saying the difference wasn’t significant.
• Choi Byung-ho (Korea University professor) said, “We must assume all publicly available data has already been learned, and the volume has surpassed a critical threshold.”
• Min Hyung-bae (Democratic Party lawmaker) stated, “While we should utilize AI’s efficiency, it’s time to consider cultural context and ethics—areas uniquely human.”
• The UK’s GlobeScribe launched a service translating entire books for $100.
• Related Link.
• Related Link.

Will a Carton of Eggs Reach 10,000 Won?

• The avian influenza impact. Even after importing 2.24 million eggs from the U.S. and releasing about half, prices remain unchecked.
• According to the Livestock Product Quality Evaluation Service, this isn’t the first time prices for 30 large eggs have surpassed 7,000 won. In 2021, they peaked at 7,612 won. From January last year’s 6,386 won, this January’s 7,080 won marks an 11%+ increase.
• The Fair Trade Commission’s cartel investigation results will also be released soon.
• Related Link.

Worth Reading.

An Inevitable Struggle.

• Even the KOSPI rises, GDP grows, and we catch up with other countries in AI—Korean society has a tendency to obsess over numbers. The fear of decline is immense.
• Yoon Bi (Sungkyunkwan University professor) emphasized, “Today’s Korea cannot be explained or led solely by the logic of growth,” adding, “As a nation grows, its national power is revealed in its ability to maintain internal stability.”
• Changing the structure of inequality is a tedious struggle, but it is unavoidable.
• “The question is whether society is sustained by fair rules, how and at what level inequality is managed, how much democratic values and institutions are respected, and the extent of trust among citizens and toward institutions—all of this constitutes national power.”
• Related Link.

‘LACO’ Is Not an Option.

• TACO (Trump Always Chickens Out) refers to Trump always backing down at the last moment. LACO implies that Lee Jae-myung (President) will also refuse to retreat on real estate.
• 60% of citizens are homeowners. No government has survived elections held every two years.
• Song Jin-sik (Kyunghyang Shinmun National Social Affairs Editor) believes this time could be different. It’s early in the administration, and approval ratings are high. Confidence has grown that “they can proceed without worrying about votes.”
• “What’s needed now is one thing: the resolve to push through to the end. (Omitted) I fully agree with the ‘real estate ruin theory.’ If something must be done to stabilize the volatile market, and especially if it’s a tax hike, there may never be a more opportune moment than now.”
• Related Link.

Lee Jae-myung’s Social Media: A Cautionary Tale from Trump.

• Lee Jae-myung is as addicted to X (Twitter) as Trump. His responses are swift and impactful.
• His timing is also sharp. His explanation of the LS Group dual-listing issue—“Buying a pregnant cow only to find the calf’s owner is someone else”—was brilliant.
• When Lee posted, “Sugar levy to reduce sugar use, reinvest levy in public healthcare—what are your thoughts?” some media outlets reported, “Government considers introducing sugar tax.” They stretched “levy” to “tax” and “asking opinions” to “considering introduction.”
• Lee shot back, “I decline claims attempting to trap this in a ‘tax hike’ frame.”
• Choi Hyun-jun (Hankyoreh Politics Team Leader) noted, “The original message contained room for misunderstanding.” Categorizing such news as ‘fake news’ narrows the space for debate.
• “Trump’s social media solidly unites supporters but severely exacerbates social division and political distrust. If actively using social media, it must serve as a cautionary lesson.”
• Coincidentally, a JoongAng Ilbo editorial also pointed out, “Excessive short-form communication can cause misunderstandings, and discussions may unfold in directions the President who posted did not intend.”
• Related Link.
• Related Link.
• Related Link.

Feedback.

Slow Factbook FAQ.

• We sent out the Slow Factbook last Friday. Many questions came in, so we’ve compiled answers.
• Is it made with AI?
• No. We input data manually and curate it ourselves. Every infographic in the Slow Factbook is backed by spreadsheet-formatted data. The issue isn’t a lack of data—there’s an overflow. The key is judging what’s important, a task AI still struggles with.
• How is it made?
• Data is organized in Google Sheets, and infographics are created in Apple Keynote. It’s faster and more visually appealing than Microsoft PowerPoint.
• Why are numbers included on every graph?
• Because seeing the numbers builds intuition. In 2004, 533 people died from falls at work; by 2023, that number dropped to 286.
• Why do you extend the time frame so far back?
• Long-term trends reveal hidden contexts, though recent shifts might be obscured. Zooming out helps us see if we’re in a valley or on a hill. That’s why we track employment distribution from 1965, birth rates from 1925, and non-regular worker gaps from 2007 data. We start with the long view, then narrow the scope if needed.
• How is it updated?
• Every day, we update new numbers, analyze trends, and refine them while producing the Slowletter. We’ll share a consolidated updated version once a month.
• Why is this released for free?
• Because Slow News believes reading can change things. What you read matters. Numbers hold power. We think data literacy is essential for society—and this helps build that intuition.
• Can I copy and use this?
• Cite the source if possible, but it’s not mandatory. The data is public anyway. For commercial use, please inquire separately.
• Some infographics lack context.
• These were originally embedded in articles, so standalone visuals might be confusing. Feedback is always welcome—we’re continuously updating commentaries and corrections.
• Why not use SaaS tools?
• Tools like Datawrapper or Flourish exist but have limitations. They’re convenient for sharing and responsive design, but layout flexibility is restricted, and managing large datasets across separate URLs becomes messy. Keynote was fastest for my workflow, though it lags past 1,000 slides and lacks search functionality. PDF conversion fixes the search issue. Better indexing and commentaries are coming.
• Pie charts aren’t ideal.
• True—bar graphs are preferable when possible. But pie charts can be intuitive for certain visuals, like the 79% of Koreans aged 18–24 who use iPhones. They’re not inherently bad, just context-dependent. We’d never use them to compare 40% vs. 30%.
• I have data suggestions.
• Submit requests—we’ll update next month.
• Can I access the raw data?
• We’re exploring CSV batch exports from Keynote or spreadsheet integrations. Keynote’s macOS-only limitation complicates things.
• It’s overwhelming.
• Agreed. That’s why indexing is crucial—organizing rather than listing, weaving narratives. Updates are ongoing.
• Wouldn’t AI speed this up?
• AI still has data-scraping limits and depends on input quality. Human curation remains vital, though AI’s role will grow.
• Is it exclusive to Slow News subscribers?
• The January issue is free—consider it an “Always Beta” trial. Starting next month, it’ll be sent via email and message to subscribers only. Support helps us sustain this.
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