“Who Can Persuade This Madman?”.

• Mohamed ElBaradei (former IAEA Director General) wrote on X: “To Gulf region governments: Please take every possible measure before this madman turns the region into a sea of fire.”
• A missile struck Iran’s Bushehr nuclear power plant. Core facilities like the reactor were undamaged, but this marks the fourth such attack.
• Donald Trump (U.S. President) continues to vacillate, threatening to “show hell” while simultaneously claiming “a major deal with Iran is possible.”
• Related Link.

“Next Target: Power Plants” “Retaliation Against U.S. Big Tech.”.

• The U.S. bombed a bridge in Iran. It was not yet completed.
• The Mahshahr petrochemical complex was also attacked. A key industrial hub producing plastics and fertilizers. “Next target: power plants,” they warned—and indeed, the nuclear plant was struck.
• Iran retaliated. It attacked the Amazon cloud center in Bahrain and the Oracle data center in Dubai. A desalination facility in Kuwait was also hit.
• Both sides have crossed red lines.
• According to CNN, half of Iran’s missile launchers remain operational. Thousands of kamikaze drones are still hidden.

What Matters Now.

U.S. Fighter Jet Shot Down, Crew Rescued.

• Last Friday, a U.S. F-15E fighter jet was shot down by an Iranian missile. The two crew members ejected, but only one pilot was initially rescued. The Iranian government offered a $60,000 bounty for capturing the U.S. officer.
• It was a difficult operation involving hundreds of special forces troops, dozens of fighter jets and helicopters, and reconnaissance satellites.
• This marked the first time a U.S. fighter jet was shot down by Iran (Kuwait once accidentally shot down three U.S. jets). Trump’s claim that “Iran has no anti-aircraft equipment” proved false—and now a soldier captured? It was a situation that could flip the war’s dynamics.
• Trump claimed, “We successfully completed the most daring rescue operation in U.S. history.”
• Though the rescue succeeded, it exposed how hard the U.S. is fighting.
• Five Iranians were killed; no U.S. casualties were reported.
• Accounts differ about two transport planes that malfunctioned and were destroyed during the rescue. Iran claims it shot them down and released photos of what appear to be Black Hawk helicopter wreckage.
• Chosun Ilbo headlined the story on its front page: “Saving Another Ryan.”
• Related Link.

Attempting to Block ‘WMDs’ Only Delivered ‘Mass Chaos Weapons’.

• “Iran has learned that its ability to control the world energy market by dominating the Strait of Hormuz is more powerful than any nuclear weapon,” said Ali Vaez (International Crisis Group Iran expert).
• Concerns now arise that the Bab el-Mandeb Strait could follow the Strait of Hormuz in being blockaded.

2,000 Ships Marooned.

• Food and water are running out. Some are reportedly surviving by fishing.
• Large cargo ships typically spend six months to a year at sea, but now—with ports blockaded—they can’t even disembark.
• A war bonus has been added. Captains of Chinese ships passing through the Strait of Hormuz now earn over $26,000 monthly. Deck officers make $5,200.
• Some shipowners demand crews abandon their vessels, but safety isn’t guaranteed. In fact, oil tankers have been attacked by drones, forcing crews to flee.
• According to the Wall Street Journal, only Chinese cargo ships with Revolutionary Guard safety codes can barely pass.
• Crew demands are twofold: First, the U.S. military must control the strait. Second, Iran’s navy must explicitly declare passage safe.
• Related Link.

18%, the People Power Party’s New Low.

• Korean Gallup poll results show the People Power Party’s approval rating has dropped to 18%. The Democratic Party stands at 48%.
• President Lee Jae-myung’s (President) approval rating hit 67%.
• The only region where the People Power Party leads the Democratic Party is Daegu-Gyeongbuk, with 35% to 26%. In Seoul, the gap is 51% to 13%, and in Incheon-Gyeonggi, 49% to 17%.
• Related Link.

75 Swing Districts Decide the Outcome.

• 99 districts were won by the People Power Party in both the 2022 local elections and the 2025 presidential election, while the progressive bloc won 66. 75 districts saw shifts or tight races.
• According to a Hankook Ilbo analysis, even the 99 districts won by the People Power Party saw significant narrowing of gaps with the Democratic Party.
• With nearly 30% of voters unaffiliated, a Democratic Party landslide or unexpectedly close race cannot be ruled out.
• Sung Han-yong (senior Hankyoreh reporter) warned, “The Democratic Party hasn’t really done much well,” adding, “the narrative of a Democratic Party sweep could be an illusion fueled by momentum.” Sung Han-yong emphasized, “The Democratic Party must maintain its current upward trend and focus to secure victory.”
• Related Link.

PPP Defectors Return as Foes.

• The Democratic Party has nominated Kim Sang-wook (Democratic Party lawmaker) and Shin Yong-han (Chairman of the Local Era Committee) as candidates for Ulsan mayor and North Chungcheong governor, respectively.
• Both are former PPP members. The PPP has yet to finalize nominations in either region. Chosun Ilbo analyzed, “After Ulsan, North Chungcheong is also in jeopardy.”
• Kim already leads potential PPP candidates by 10 percentage points in polls.
• Yang Seung-sik (Chosun Ilbo editorial writer) lamented, “If party-switching figures return triumphant, the damage could exceed that of the Daegu mayoral race,” adding, “It’s only sighs we can muster.”
• Related Link.
• Related Link.

Deep Dive.

Nitrogen Fertilizer Prices Soar 169%.

• South Korea’s dependence on the Middle East for nitrogen fertilizer stands at around 44%.
• This is a result of diversifying import sources after China’s 2021 urea export restrictions, which increased Middle Eastern imports.
• According to the Ministry of Agriculture, Food and Rural Affairs, contracts for volumes needed until the end of July are already finalized, but prices could surge with a time lag from August onward.
• Related Link.

“Staying Put Is Profitable,” Fishing Operations Stall.

• One drum of tax-free diesel (fuel used by fishermen) costs 276,200 won, a jump of over 100,000 won in a month.
• A Busan mackerel fisherman said, “We need to catch 70–80 kg to break even, but we’re only getting 20–30 kg—it’s not the season.” Yang Jeong-bok (Busan Fisheries Cooperative director) stated, “It’s impossible to go out fishing.”
• According to Kyunghyang Shinmun, fuel costs now account for nearly 40% of fishing expenses. Prices would have risen more without a maximum price cap, but tax-free diesel has surged even faster: a 20% increase in regular diesel correlates with a 60% jump in tax-free rates.
• “Fishflation” fears are also mounting. A 10% rise in fuel costs slashes nearshore fisheries’ net profits by 13% and drives up seafood prices.
• Related Link.

Joo Ho-young’s Injunction Request Rejected.

• Kim Young-hwan (Chungcheongbuk-do Governor)’s injunction request was accepted because the re-bidding process was deemed flawed—unlike Joo Ho-young (People Power Party lawmaker)’s case.
• The People Power Party primaries keep unraveling. Lee Jin-suk (former Chair of the Korea Communications Commission), who was cut from the Daegu mayoral race alongside Joo, plans to run as an independent.
• Jang Dong-hyeok (People Power Party leader) is trying to appease Lee by offering her a nomination in a by-election.
• A People Power Party lawmaker met by JoongAng Ilbo said, “Former Prime Minister Kim Bu-gyeom’s rising momentum is concerning.”
• Bae Hyun-jin (People Power Party lawmaker) remarked, “Candidates are reluctant to run because they fear they won’t even recoup election costs.”
• Related Link.
• Related Link.

Foreign Reserves Shrink by $4 Billion.

• It’s money meant for such purposes, and there’s still plenty. $423.7 billion as of end-March.
• The ranking of foreign reserves dropped from 10th to 12th. Countries with large gold holdings rose in rank as gold prices climbed.
• Over $22.5 billion was spent last year alone on currency stabilization measures.
• A Bank of Korea official met by Dong-A Ilbo said, “We still consider South Korea’s foreign reserves to be at a sufficiently comfortable level.”
• Related Link.

National Favorability: China Edges Ahead of the U.S.

• Gallup’s survey of 1,000 people across 130 countries. Support rates for China and the U.S. stood at 36% and 31%, respectively.
• Gallup analyzed, “The world is moving toward a multipolar order,” adding, “U.S. allies are increasingly seeking balance rather than aligning unequivocally with one side.”

Another Take.

KT’s Profit-by-Cutbacks Legacy: Can CEO Park Yoon-young Break the Cycle?

• KT has spent 20 years slashing headcount and selling assets to boost profits. It sold buildings and then rented them back, even offloading satellites built with public funds. Trillions of won in real estate assets remain.
• KT’s workforce shrank from 56,600 in 1998 to 14,121 last year—now a third of its former size.
• Last year, 2,300 employees who refused transfers to subsidiaries were forced into sales departments.
• Total wages, over 2 trillion won two decades ago, dropped to 1.6 trillion won last year.
• New CEO Park Yoon-young (KT Representative), a tech-background leader, has reallocated the 2,300 sales-center staff back to core operations. Can KT transcend its tragedy of mortgaging the future for short-term gains? Time will tell.
• Related Link.

Chosun Ilbo’s Decline: JoongAng Leads Korean Newspaper Revenue.

• Donga Ilbo’s figures remain unreleased, but JoongAng is likely to retain its lead.
• JoongAng’s revenue grew sharply from 273.5 billion won in 2023 to 321.0 billion won last year, with profits rising from 5.6 billion to 17.5 billion won. Net profit turned from a 5.9 billion won deficit to a 5.8 billion won surplus.
• What changed? Newspaper sales edged up from 176.6 billion to 188.9 billion won, but other revenue—including advertising—surged from 96.9 billion to 132.0 billion won.
• Hankyung’s rise is also notable. While other papers stagnated or shrank, it jumped from 106.9 billion won in 2023 to 297.0 billion won last year, praised for diversifying into cultural events, exhibitions, and outdoor advertising.
• Chosun Ilbo’s revenue fell from 438.7 billion to 289.4 billion won.
• The old “Cho-Jung-Dong-Mae” hierarchy is now “Jung-Han-Cho-Dong-Mae.”

Why Anthropic Could Stand Up to Trump.

• Anthropic (Claude) differs from OpenAI (ChatGPT). Both are 100% owned by nonprofits, but OpenAI shifted its philosophy by creating a for-profit holding company as a subsidiary. Anthropic split from OpenAI.
• When the U.S. Department of Defense requested military use of Claude, Dario Amodei (Anthropic CEO) could refuse because Anthropic’s governance principles differ fundamentally.
• Anthropic plans to create a “Long-Term Benefit Trust (LTBT)” and appoint at least three of five board members from this trust. (Currently, the trust holds less than 5% equity and appoints only one director.)
• Had this been OpenAI, shareholders might have ousted Dario Amodei for losing the DoD contract. At Anthropic, accepting the request might have led to his removal.
• Lee Jae-heung (Director of the Citizens’ Technology Network, AI Strategy Committee private member) emphasized, “Pursuing public interest and capital gains do not conflict.”
• A company like Anthropic cannot operate solely on donations. This is why Lee argues South Korea needs a public-interest business model—one that prioritizes social good while generating profit.
• Related Link.
• Related Link.
• Related Link.

Why Korea Needs the Public Interest 3 Acts.

• Korea legally prohibits public-interest governance structures. The stated rationale was to block chaebol conglomerates from exploiting loopholes for inheritance, but it also makes corporate control by public-interest foundations fundamentally impossible.
• DCAMP (the banking sector’s youth startup foundation) created a program to support young startups, yet it cannot invest more than 5% equity and thus cannot provide follow-up funding—this is due to such restrictions.
• Yoon Ho-jung (Minister of the Interior and Safety) previously proposed the Public Interest 3 Acts, which aim to simplify donations to public-interest foundations, activate their investments, and strengthen oversight.
• Yuhan Corporation experimented with an alternative model by separating ownership and management and donating over half its shares to a public-interest foundation, but it still faced controversy over privatization of management rights—a case with significant implications.
• Lee Jae-heung emphasized, “Lee Jae-myung (President) may be unaware of the issues with the under-5% equity rule,” adding, “Public regulation and control should be balanced to ensure both public value and stability, while allowing agility in response to rapidly changing realities.”
• Related Link.

Distorted Prices Distort the Market.

• Bread may seem expensive, but egg, milk, and sugar prices all defy market principles.
• Egg prices are controlled by suppliers, milk prices are dictated by production costs, and sugar carries a 30% tariff.
• Hong Hee-kyung (Seoul Shinmun columnist) noted, “Reduced numbers on price tags inevitably get billed elsewhere.” Oil price caps ultimately return as taxpayer burdens. Raising property taxes increases tenant rents. Using national and private pensions as stock market leverage makes future retirees pay the price.
• The question is: “Who bears the cost of those reduced numbers?”
• Related Link.

“Let’s Call Daegu EXCO the Park Chung-hee Convention Center.”.

• This proposal comes from Kim Bu-gyeom (former Prime Minister), a candidate in the Daegu mayoral race.
• “Just as Honam has Kim Dae-jung and democratization as its great figure and value, Daegu has Park Chung-hee and industrialization. That is Daegu’s pride, and we should protect it,” he said.
• Related Link.

10,000 Delinquency Management Officers.

• 213.4 billion won was allocated in the supplementary budget. 9,500 new hires will join the 500 recruited earlier this year, forming a 10,000-strong unit.
• The Korea Daily pointed out that a project requiring hundreds of billions of won lacks legal backing. The National Debt Management Act must be revised.
• Some argue that even managing 10,000 field investigators will burden 1,000 National Tax Service officers.

The Fix.

650,000 Drug Addicts, Only 341 Treatment Beds.

• Last year, 23,403 drug offenders were caught. Assuming an underreporting rate of 28 times, the actual number of drug addicts is estimated at around 650,000.
• According to Chosun Ilbo, the 31 government-designated hospitals have only 341 beds. Each facility has only 4–5 specialized medical staff. Of the 31 institutions, 14 have no patients at all.
• The Ministry of Justice estimates that if recidivism among drug offenders (34.5%) is not prevented, the social cost will reach 1 billion won per individual.
• Related Link.

Arbor Day Arrives Too Late.

• Calls to move it up by about two weeks are emerging.
• According to the Seoul Environmental Movement, the average temperature on April 5 is 10.6°C, 2.3 degrees higher than when Arbor Day was first established 81 years ago.
• Arbor Day originates from a day when King Seongjong of Joseon personally cultivated fields at Seonongdan.
• Kim Dong-eon (Seoul Environmental Movement Policy Director) said, “While the exact date may not matter since tree-planting seasons vary by species and region, it could serve as a moment for society to recognize the reality of climate change.”
• Related Link.

What Denmark Did 50 Years Ago.

• Facing the oil shock, Denmark turned to wind power development.
• France expanded nuclear power, and the U.S. introduced fuel efficiency regulations for cars.
• South Korea? It increased coal and gas power plants. It still relies on fossil fuels for 80% of its primary energy.
• A “Hail Mary” refers to a long pass attempted in football just before the game ends. In the film *Project Hail Mary*, the protagonist travels 12 light-years to Tau Ceti to find tau protein to save a dying sun.
• Yoon Ji-ro (Cliff CEO) emphasized, “For us, energy transition is the tau protein that will help us overcome the energy crisis.”
• Related Link.
• Related Link.

Renewable Energy as Security.

• António Guterres (UN Secretary-General) said, “Sunlight has no price surges, and wind has no trade blockades.”
• The OECD average for renewable energy share is 35%, while South Korea’s is 11%.
• Lee Yoon-joo (Kyunghyang Shinmun Policy & Society Editor) pointed out, “The current energy crisis shows how costly delaying choices can be.”
• “The energy market, once driven by the cheapest prices and efficiency, has become a security-level resource that must remain unshaken in crises.”
• “Renewable energy transition should be redefined not as a political choice but as a national infrastructure project, with societal consensus built accordingly.”
• Related Link.

Seoul Public Transit Use Rises by 990,000.

• From February 24–25, just before the war, Seoul public transit averaged 20.41 million daily riders. By March 10–12, that number rose to 21.40 million.
• The city will refund 30,000 won monthly to Climate Companion Card users for three months through June.
• Card users spend about 95,000 won monthly. A regular pass costs 62,000 won; adding the 30,000 won rebate cuts the price by a third.
• Related Link.

ICYMI.

“No Pre-Inauguration Photos of Lee Jae-myung.”.

• The Democratic Party’s internal directive. The reason given: “It could lead to controversy over the president’s interference in party affairs,” but pro-Lee factions are pushing back.
• Han Joon-ho (Democratic Party lawmaker, Gyeonggi governor candidate) argued, “In 2018 and 2022, we ran local elections with messages alongside the sitting president,” adding, “The field finds it hard to accept why different standards apply this time.”
• Cho Seung-rae (Democratic Party Secretary-General) clarified, “The request isn’t to avoid using photos or videos with the president, but to refrain from using past footage in ways that imply the current president is endorsing a candidate.”
• Related Link.

NATO? The New York Times’ Baffling Mistake.

• “A North American Treaty Organization Without America?” was the headline. “A North American Treaty Organization without the U.S.,” in other words.
• Two possibilities: First, the editor genuinely thought NATO (North Atlantic Treaty Organization) was called the North American Treaty Organization. Second, it was a weak attempt at a joke—suggesting NATO is effectively a North American treaty group anyway. If a joke, it was a failed one.
• The New York Times eventually decided to issue a correction. The first explanation seems more likely.
• Related Link.

Who Will Reach the Moon First?

• Artemis II will orbit the Moon and return. Artemis III was supposed to land, but the mission has been pushed to IV or V.
• China could get there faster. After landing Chang’e-4 on the Moon’s far side in 2018, Chang’e-6 returned in 2024 with soil and rock samples.
• It is simultaneously developing the crewed spacecraft ‘Mengzhou (Dream Ship),’ the heavy-lift rocket ‘Long March 10,’ and the lunar lander ‘Lanyue.’

AI vs. Human Editing.

• It was an event marking the release of the revised and expanded edition of Kim Young-min’s (Seoul National University professor) “What is Study?”. Three pre-submitted essays were compared: one edited by Claude Opus, the other by Kim Young-min.
• A Hankook Ilbo reporter who attended the event assessed, “While the AI focused on improving the essays’ polish, Kim Young-min emphasized their potential for development.”
• In a blind test where the audience guessed which edits were AI-generated, 85% correctly identified them.
• Kim Young-min remarked, “If we don’t discuss what kind of humans we want to be in the face of AI, we might end up becoming something very different from what we expect.”
• Related Link.

Worth Reading.

Is War Reporting Adequate?

• “The first casualty when war comes is truth,” said Arthur Ponsonby (British politician).
• Han Dong-seop (Hanyang University professor) pointed out that South Korean media’s coverage of the U.S.-Iran conflict “mostly remains at a low-level, process-oriented reporting that follows events as they unfold.”
• “Essential elements like hegemonic structures, historical context, long-term strategies, and the interests of the military-industrial complex are not sufficiently addressed in a timely manner.”
• Related Link.

Park Sang-yong Is Not Han Dong-hoon.

• Park Sang-yong (Seoul Central District Prosecutors’ Office prosecutor) refused to take the witness oath during a national investigation.
• Son Won-je (Hankyoreh columnist) analyzed, “Unlike broadcasts where one can throw out any statement, making false claims in a national investigation could lead to perjury charges. Anyone could intuit that this fear—of legal repercussions—crushed the ‘law-savvy’ prosecutor, forcing him to flee without swearing in.”
• Circumstances indicating Park Sang-yong attempted to coax suspects during the Ssangbangwool North Korea remittance probe have been sufficiently revealed. He may wish to hold out like Han Dong-hoon (former People Power Party leader), but this is no longer the prosecution of that era—and the case is far clearer.
• Son Won-je emphasized, “Through rigorous investigation and punishment, the lesson must be learned that ‘fabricated investigations lead to ruin,’ ensuring no prosecutor dares to toy with investigative power again.”
• Related Link.

Why Has the Welfare Debate Disappeared?

• Why does inequality worsen even as welfare expands? The top 10%’s income share rose from 31% in 1990 to 38% in 2024. The bottom 50%’s share fell from 26% to 18%.
• Yoon Hong-sik (Inha University professor) noted, “Welfare expansion, once a vote-winning tool in elections, has finally exhausted its lifespan.” The story goes that even the Democratic Party, which advocated for welfare expansion, has relegated it to a lower priority.
• Yoon Hong-sik’s questions are these:
• “Can ‘developmental state’-style growth still be the magic cure for people’s livelihoods in 2026 South Korea?”
• “Without expanded welfare, can Korean democracy withstand worsening inequality?”
• “Now that the old myth—that any growth will improve livelihoods—has revived, the empty seat of the welfare state, soon vanished behind the curtain, will present a harsh bill that Korean society cannot afford.”

1987’s Hormuz Nightmare.

• Back then, there was also a tanker war. When Iran attacked Kuwaiti tankers, the U.S. dispatched warships to escort them.
• Yet on their first mission, the escorted tanker struck a mine. The U.S. warships, far from providing protection, trailed the tanker into port.
• Park Hyun (Hankyoreh columnist) noted, “Even at the height of its hegemony in the 1980s, the U.S. struggled to protect tankers.”
• Related Link.

Accountability Must Be Sought to the End.

• At the Jeju 4.3 Uprising commemoration, the Lee Jae-myung government outlined three principles.
• First, state crimes will hold individual perpetrators accountable.
• Second, if the statute of limitations has expired, honors and awards given to perpetrators will be revoked.
• Third, for crimes where the statute of limitations has not expired, the limitation will be waived and accountability pursued for the perpetrator’s lifetime.
• Lim Jae-sung (Haemaru Law Firm attorney) emphasized, “Even crimes with expired statutes of limitations must be punishable in their historical context.”
• While constitutional challenges may arise, there is also interpretation that exceptional cases—where citizens’ fundamental rights were violated by state power—could justify exceptions to constitutional principles.
• “Because remembering and contextualizing power’s excesses is the most effective way to safeguard the present and set the course for the future.”
• Related Link.