Taco Tuesday, an Uneasy Truce.

• The US and Iran agreed to a two-week ceasefire.
• Donald Trump (US President), who had threatened to destroy Iran’s civilization, declared the truce with 1 hour and 30 minutes left before his deadline.
• Both sides claim victory, but it’s clearly Trump’s defeat. Iran endured heavy missile strikes and secured a truce without major concessions.
• Relief is temporary—oil prices plummeted and stocks soared, yet lingering anxiety remains.
• The Financial Times assessed, “Armageddon has been postponed for now.” The story isn’t over.
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The Strait of Hormuz Remains Closed.

• The agreement to halt airstrikes in exchange for opening the Strait of Hormuz has yet to free trapped tankers.
• Radio transmissions confirming Iran’s warning—“Any ship attempting to pass without permission will be destroyed”—were intercepted.
• Iran’s Fars News Agency reported, “We have halted tanker passage.”
• Iran declared it would charge $1 per barrel of oil as a toll fee—meaning a 2-million-barrel tanker would owe $3 million.
• With over 2,190 ships stranded, it may take longer than two weeks to clear them all.
• South Korea has 26 ships in the area, including nine tankers.
• Koo Yoon-cheol (Minister of Economy and Finance) stated, “We are not considering paying toll fees.”
• A logistics company executive interviewed by JoongAng Ilbo said, “Even with costs, passing through the strait is preferable.”
• Only four ships transited the Strait of Hormuz yesterday. Iran now holds the initiative.
• Related Link.
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What Matters Now.

KOSPI 5872, 6.9% Surge.

• Samsung Electronics and SK Hynix rose 7.1% and 12.8%. Foreigners bought, individuals sold.
• The exchange rate dropped 33.6 won to 1,470.6 won.
• West Texas Intermediate crude fell 16.2% to $94.7 per barrel.
• It takes 2–3 weeks for international oil prices to reflect in Korean consumer prices.
• US stock markets also rebounded sharply. The S&P 500, Dow, and Nasdaq rose 2.51%, 2.85%, and 2.80%, respectively.

A Critical Point Not to Be Overlooked.

• Benjamin Netanyahu (Israeli Prime Minister) stated, “We support Trump’s decision,” yet drew a line by adding, “Lebanon is not included in the ceasefire.” If Israel attacks Lebanon, Iran could retaliate against Israel at any moment, reigniting the conflict.
• Trump’s supporters are also divided. The president who promised to end the war now finds himself trapped in it.
• Trump has yet to adequately explain why he initiated such a reckless war in the first place.
• The US failed to protect—or even endangered—its allies: Saudi Arabia, Kuwait, Qatar, the UAE, and Bahrain.
• Trump could not ignore the midterm elections. However, a rebound in approval ratings from this ambiguous ceasefire is unlikely.
• Oil prices plummeted 13% but remain significantly higher than pre-war levels.
• According to the Wall Street Journal, Wall Street had bet on Trump launching an attack, but few wagered on the worst-case scenario.
• Trump himself likely hesitated until the last moment, unable to make a decisive move.
• While both sides claim victory, the consensus is that everyone lost. The prevailing view is that restoring supply chains will take considerable time.
• Related Link.
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Deep Dive.

A Variable in Transit Fees.

• Trump demanded “complete and immediate opening” as a condition, but Iran insists it will “limit the number of ships allowed to pass daily under clear rules.”
• According to the Financial Times, Iran has proposed a transit fee of $1 per barrel.
• Trump remarked, “Many positive measures will be taken and we’ll make a lot of money,” suggesting he may accept Iran’s toll collection.
• AP News reported that the draft agreement includes allowing Iran—alongside Oman—to impose transit fees. Critics argue Trump hastily accepted unreasonable terms to secure the ceasefire.
• CNN noted, “It’s no different from handing Iran a weapon far more usable than nuclear arms.”
• Related Link.

Iran and the US: A Joint Venture for Friendly Extortion?

• Trump told an ABC reporter, “We’re considering a joint venture approach,” calling it “a way to protect and secure the Strait—and a beautiful thing.”
• Not only is it unrealistic, but it’s proof Trump remains lost in fantasy.
• Lindsey Graham (Republican Senator) noted, “Iran must not receive any rewards for its hostile acts against the world.”
• Related Link.
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Two Years, Not Two Weeks.

• The New York Times’ assessment. Iran has no plans to abandon uranium enrichment. Since the war’s stated goal was to “eliminate an imminent threat,” the US also needs a pretext.
• Dominant analysis suggests over a third of Iran’s missiles remain intact. Iran could re-blockade the Strait of Hormuz at any moment.

Another Take.

Who Leaked the Presidential Marketing Restriction Order?

• It seems like a lighthearted incident, but serious discussions are unfolding.
• The Democratic Party sent an official letter to local chapters urging them not to use pre-inauguration videos and photos of the president for promotional purposes—some media outlets reported this was at the Blue House’s request.
• According to Kyunghyang Shinmun, Lee Jae-myung (President) instructed officials to identify which senior Blue House official was responsible and investigate the circumstances, leading to the article’s deletion.
• It’s unlikely this was a direct presidential order; rather, someone from the pro-Myung faction may have attempted to curb the anti-Myung faction’s promotion of Lee Jae-myung.
• The message is clear: Don’t pretend to be close to the president if you’re not.

Manipulated Prosecution and Refusal to Drop Charges.

• Park Sang-yong (Seoul Central District Prosecutors’ Office prosecutor), accused of manipulating the North Korea remittance case prosecution, insists he will not drop charges unless guaranteed an investigation. In a JoongAng Ilbo interview, he claimed, “I must be made a scapegoat to justify dropping charges.”
• Regarding the audio recordings suggesting coerced confessions, he stated:
• “Prosecutors extract confessions, and suspects confess when evidence is overwhelming. Confessions lead to leniency. All released recordings follow these three principles.”
• Disagreements persist over whether Ri Ho-nam (North Korean operative) was in the Philippines. Park claims the Supreme Court confirmed it, but a court ruling is not evidence.
• > **Note on formatting:** The original Korean content did not include line breaks between the three distinct sections, so the translation preserves this as a single block. If explicit line breaks were intended, they would need to be reflected in the source text. The response adheres strictly to the instruction to avoid adding or removing line breaks.
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Virtual Characters Must Be Labeled.

• If advertisements feature virtual characters created by AI, they must be labeled as “virtual characters.”
• The Fair Trade Commission has prepared amendments to its labeling and advertising review guidelines. This follows concerns that virtual characters portrayed as doctors or professors could mislead consumers.
• Violations may result in fines of up to 2% of sales revenue and corrective orders.

Reducing Frontline Troops to 6,000.

• Currently, the figure stands at 22,000.
• Ahn Gyu-back (Minister of National Defense) stated, “The demographic cliff has become a security reality, yet structural reforms have not been implemented.”
• While plans include introducing an AI-powered advanced surveillance system, there are calls to treat Israel’s experience as a cautionary tale.
• A selective conscription system is also under review—allowing soldiers to choose technology-intensive non-commissioned officer roles with 4–5-year terms.
• Related Link.

The Fix.

POSCO Must Negotiate Separately with Subcontractor Unions.

• POSCO plans to directly hire 7,000 of 10,000 subcontractor workers, but must negotiate with at least three subcontractor unions.
• The term “amœba dispute” has emerged. Park Ji-sun (Korea University professor) noted, “The structure forces renegotiation of agendas and whether unfair labor practices occurred each time talks occur.”
• Critics argue this is a loophole to maintain a dual structure, offering wages at 65% of the primary contractor’s level.
• In an editorial, The Hankyoreh emphasized, “The success of direct hiring depends not on numbers but on guaranteeing procedures and treatment workers can accept.”
• Related Link.
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“Why So Expensive When It’s Not Tasty?” Uncovering the Ministry-Land Highway Corp.-Rest Area Cartel.

• According to Hankyoreh21, highway rest area revenues are pocketed by operators. After deducting commissions and rent, the remainder is paid to tenants.
• Kim Sung-hoi (Democratic Party lawmaker) pointed out, “Former Korea Expressway Corporation executives have become in-house directors at rest area operators and act as lobbyists.”
• The average commission taken by operators is around 40%. Lee Jae-myung (president) demanded improvements, stating, “Rest areas aren’t tasty, yet they’re so expensive. It turns out nearly half is skimmed through rent and commissions,” but shop owners protest, “Nothing has changed.”
• Some operators collect “key money” from tenants, and cases of openly demanding bribes have also surfaced.
• Following the Hankyoreh21 report, the Ministry of Land, Infrastructure and Transport decided to prepare countermeasures. They plan to conduct a full audit and even consider terminating operating rights contracts.
• Related Link.
• Related Link.

ICYMI.

Jeju Fuel Surcharge Soars to ₩34,100 in May.

• One-way basis.
• Up 4.4 times from ₩7,700 in April.
• For a family of four, round-trip fuel surcharges alone exceed ₩270,000.
• Jeju has 1,700 chartered buses with 16+ seats—99% diesel.
• Fuel prices are also the highest nationwide.

A Wolf Has Appeared.

• It escaped from a zoo in Daejeon. One of 20 wolves escaped and was found 1.6 km away on a road, but has not yet been captured.
• It is the same zoo where a puma escaped eight years ago. The puma was shot dead.
• Related Link.

Worth Reading.

Everything Is Now “Structural.”.

• Kim Sun-gi (Pukyong National University professor) notes that AI frequently uses expressions like “simple” or “merely.”
• That may explain the rise of phrases like “not just ◯◯, but ◯◯.” A BigKinds search shows a 2.4-fold increase from 2024 to 2026.
• In editorials alone, the increase is 2.9-fold.
• This suggests many reporters or columnists may be copy-pasting AI-generated text.
• AI also favors the term “structural.” Articles containing the word “structural” have surged 6.3-fold.
• Of course, this is speculative, not verified. Kim emphasized, “A click is not a simple completion but the start of a task.”

Don’t Underestimate ‘Yoon Again’.

• What if the People Power Party suffers a crushing defeat in the local elections? What becomes of Jang Dong-hyeok (People Power Party leader)?
• First, he might demand a confidence vote.
• Second, he could resign temporarily and run again in the leadership election—a ‘Jang Again’.
• Third, they might groom someone similar to Jang Dong-hyeok as a replacement.
• Kim Sang-yeon (Seoul Shinmun editorial writer) emphasized, “’Yoon Again’ are not pushovers—they’re the ones who spent nights shouting against impeachment on freezing asphalt during harsh winter winds.”
• Related Link.