Marathon’s Two-Hour Barrier Broken.

• Sebastian Sawe (marathoner) completed the 42.195 km London Marathon in 1 hour, 59 minutes, and 30 seconds—a pace of 16.99 seconds per 100 meters.
• The previous record was Kelvin Kiptum’s 2 hours 1 minute 35 seconds; Sawe shaved 65 seconds off that time.
• Yomif Kejelcha, who finished second, also achieved a “sub-two-hour” run with a time of 1 hour, 59 minutes, and 41 seconds.

What Matters Now.

Trump Nearly Shot Again.

• Someone fired a gun at a journalists’ association dinner, prompting a hasty evacuation. A Secret Service agent was hit but escaped serious injury thanks to a bulletproof vest.
• JD Vance (U.S. Vice President) exited first, while Donald Trump (U.S. President) hesitated to leave, then knelt and was helped up by agents.
• The suspect, a 31-year-old man, was arrested at the scene.
• Trump had announced that day, “I will give the most inappropriate speech ever made,” but it was canceled. The New York Times analyzed, “He looked disappointed.”
• At a press conference, he said, “Look at Lincoln—those who leave the biggest legacy become targets.”
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Second Ceasefire Talks Collapse.

• “Iran’s proposal fell short of expectations,” said the U.S. envoy, who canceled his visit entirely.
• Israel resumed airstrikes on Lebanon.

South Korea’s Potential Growth Rate Drops to 1.57% in 2025.

• OECD analysis. South Korea’s potential growth rate has been declining for 15 consecutive years.
• Potential growth rate refers to the optimal economic growth rate a country can achieve without causing inflation, even when fully utilizing all production factors like capital, labor, and resources.
• Potential growth rate is both the economy’s fundamental strength and its growth ceiling.
• Park Jeong-woo (Nomura Securities economist) warned, “Dutch disease could occur, where sectors other than specific industries become vulnerable.” The Netherlands saw its manufacturing competitiveness collapse rapidly in the 1960s as natural gas exports surged.
• The JoongAng Ilbo cautioned in an editorial, “While intoxicated by the illusion of the semiconductor boom, the economy is gradually sinking into a low-growth quagmire.”
• Related Link.
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“I’ll Face Evaluation After the Election.”.

• Jang Dong-hyeok (People Power Party leader) said, “I have not considered resigning.”
• A conservative camp official met by Chosun Ilbo said, “The ‘Jang Dong-hyeok risk’ will become more pronounced during the remaining 40 days of the local elections.”
• Lee Hyun-sang (JoongAng Ilbo columnist) assessed, “He is dragging the conservative party’s dignity to the bottom.”
• Oh Se-hoon (Seoul mayor) and Kim Tae-heum (Chungnam governor) campaigned in green outfits. A People Power Party official met by JoongAng Ilbo said, “If Jang Dong-hyeok quietly fades into the background, the election results might not be so bad.”
• Is that really the case? In a Gallup Korea poll, the president’s approval rating remains at 67%, a record high. The Democratic Party and People Power Party stand at 48% and 20%, respectively—a gap of more than double.
• Related Link.
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Disagreement Over Special Long-Term Holding Tax Break.

• Lee Jae-myung (President) posted on X from Vietnam: “Is normalizing the abnormality of cutting taxes for long-term speculation on homes you don’t even live in a ‘tax bomb’?”
• It does not mean full abolition, but rather a reduction in exemptions based on residency duration.
• Controversy over the special long-term holding tax deduction continues. The Blue House said, “Nothing has been decided,” while the Democratic Party insists, “How could it be completely abolished?”
• The People Power Party criticized, “They are labeling homeowners as potential speculators.”
• Lee Eun-hyeong (research fellow at the Korea Construction Policy Institute) pointed out, “When a single-homeowner sells their home to buy another, they are usually upgrading—abolishing the deduction would increase the burden of moving.”
• A Democratic Party official met by JoongAng Ilbo said, “Regardless of the policy’s merits, the hope is to quietly move past real estate issues until after the election.”
• Related Link.
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PPP’s Daegu Mayor Candidate is Choo Kyung-ho.

• Lee Jin-suk (former chairperson of the Korea Communications Commission), who vowed to run as an independent, has also withdrawn.
• Daegu will see a showdown between Kim Bu-gyeom (former prime minister) and Choo Kyung-ho (PPP lawmaker). Choo served as finance minister under the Yoon Suk-yeol administration.
• A Korea Research survey showed Kim Bu-gyeom at 43% and Choo Kyung-ho at 26% support. (Telephone interview survey, 18.4% response rate, ±3.5 percentage points margin of error at 95% confidence level.)
• Related Link.

Ha Jung-woo Ultimately for Busan Buk-gap?

• Speculation grows that Lee Jae-myung’s favored “HaGPT” — Ha Jung-woo (Chief of AI Future Planning) — will ultimately be drafted.
• A Blue House official stated, “Only the president’s final approval remains.”
• The People Power Party will field Park Min-sik (former Minister of Patriots and Veterans Affairs).
• He will face Han Dong-hoon (former PPP leader), running as an independent, in a three-way race.
• Jeon Eun-su (Blue House spokesperson) is likely to fill the vacancy in Chungnam Asan left by Kang Hoon-sik (Chief of Staff to the President).
• Related Link.

30% Female Candidacy? Reality is 8%.

• The Democratic Party has confirmed 200 candidates for local government chief positions, of which only 17 are women.
• Metropolitan-level chiefs: 8%, local government chiefs: 8%, metropolitan councilors: 23%, local councilors: 26%.
• If Choo Mi-ae (Democratic Party lawmaker) is elected Gyeonggi governor, she would become the first female metropolitan-level chief in constitutional history.

Star Power vs. Incumbency.

• The Democratic Party’s candidates are mostly those endorsed or dispatched by the president. Most incumbents failed to secure nominations.
• The People Power Party remains unbeatable for incumbents. Only Chungcheongbuk and Gyeonggi remain unresolved.

High Fuel Cost Relief Payments Open for Applications Today.

• First payments target basic livelihood recipients, near-poor households, and single-parent families. Near-poor households receive 450,000 won, basic livelihood recipients 550,000 won, with non-capital and population-declining areas receiving an additional 50,000 won. Maximum payment is 600,000 won.
• Second payments run from May 18 to July 3. Targets 70% of the population.

Deep Dive.

The Han Dong-hoon Paradox.

• Han Dong-hoon is the one currently rattling the Busan-Ulsan-Gyeongnam sentiment.
• The Han Dong-hoon paradox is that if Han fights well, Jang Dong-hyeok survives.
• Yoon Tae-gon (political columnist) pointed out, “Jang Dong-hyeok is Han Dong-hoon’s greatest asset.”
• Because Jang attacks Han, those who dislike Jang side with Han.
• From the People Power Party supporter’s perspective, pushing Han sends a warning to the Lee Jae-myung government and punishes Jang Dong-hyeok—killing two birds with one stone.
• Related Link.
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20 Million Barrels Blocked, 13 Million Barrels Released.

• There are several alternative routes bypassing the Persian Gulf. The UAE’s Habshan-Fujairah pipeline and Saudi Arabia’s Abqaiq-Yanbu pipeline are exporting 3 million barrels per day.
• Nearly 200 million barrels of oil stored outside the Middle East have been released—equivalent to 6.6 million barrels per day.
• Reduced consumption also played a role, cutting demand by 2.3 million barrels daily.
• In total, about 15 million of the 20 million blocked barrels have been absorbed. Oil prices have remained relatively stable as a result.
• Kim In-wook (Sungkyunkwan University professor) analyzed, “Considering demand elasticity, oil reserves could cover over 135 days.” He added, “We must move beyond vague fears and examine both upward and downward pressures shaping international oil prices.”
• As of May 26, gasoline and diesel prices stood at 2,008 won and 2,002 won per liter, respectively. The government’s price ceiling is set at 1,934 won and 1,923 won per liter.
• Related Link.
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360 U.S. THAAD Missiles, 290 Fired.

• Restocking would take 52 months.
• Patriot missiles: 1,430 fired. Over 60% of stockpiles depleted. At 5.9 billion won per missile, production maxes out at 600 annually. Restocking requires 42 months.
• According to CSIS, missile supplies remain sufficient—but the issue is the next war the U.S. might have to fight.
• The Wall Street Journal reports concerns that the U.S. could struggle to adequately defend Taiwan if China invades.
• Total war costs so far: $28–35 billion.
• That’s $900 million daily. The Guardian notes analyses suggesting the U.S. could face $1 trillion in costs over the next decade.
• Trump, a born dealmaker, wants the war over.
• On the 20th, when they said “Blinken will soon arrive in Pakistan,” it turned out he hadn’t even boarded a plane. A sign of both impatience and haste.
• Related Link.
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Another Take.

Sakuranomics and High-Pressure Economics.

• Takaiichi Sanae’s (Prime Minister of Japan) Sakuranomics resembles Abenomics but with heightened intensity.
• This year’s strategy involves allocating a ¥122 trillion budget and pushing the economy to near-overheating by maintaining low interest rates—a theory of “virtuous bubbles.”
• Applying simultaneous pressure through monetary and fiscal policies to create excess demand is termed high-pressure economics.
• This generates a “job ladder” effect: unemployed workers find jobs, while employed workers move to better positions. Real wages, productivity, production, and investment all rise together.
• According to Nam Yoon-ho (Central Daily senior columnist), Japan is the only nation seriously pursuing high-pressure economics.
• It’s a bold (reckless) experiment declaring, “We’ll tolerate inflation.”
• Theoretically, weaker yen values and inflationary pressures reduce purchasing power and real wages.
• Critics argue that the working and middle classes become silent targets of exploitation.
• It’s also uncertain whether flooding the market with money will spur corporate investment.
• Asset price bubbles are another risk.
• Nam Yoon-ho warned, “Sakuranomics’ high-pressure economics, like Prometheus’ fire, comes with a cost.”
• Related Link.

Only AI Rose.

• America is no different. Among S&P 500 stocks, 118 have fallen over 10%. The 82 that rose over 10% are all AI-related.
• Excluding the Magnificent Seven, the total market cap is negative.
• The Wall Street Journal warned, “Signs of a bubble are emerging.” While Anthropic and OpenAI are preparing for IPOs and data center investments are surging, bubbles are only recognizable after they burst.
• “If human-level AI emerges, the situation could change. At the very least, the bubble may inflate further before bursting. Even if you’ve correctly identified a bubble, spotting it too early is as good as being wrong.”
• Related Link.

Google Invests $40 Billion in Anthropic.

• Valued the company at $350 billion.
• Amazon also agreed to invest $25 billion.

“Will Somewhere Else Just Give It Away?”.

• “Even an acquisition requires people, water, and electricity.” These were the words of Choo Mi-ae (Democratic Party Gyeonggi Governor candidate) during her visit to Samsung Electronics and SK Hynix.
• It was a statement that there is no reason to relocate the Yongin semiconductor cluster.
• Related Link.

“Should the Dong-A Ilbo’s Korean Newspaper Award Be Revoked?”.

• Lee Jae-myung (former Gyeonggi Governor) wrote this on X.
• The disputed article, published in October 2021, was titled [Kim Man-bae: “Half of Cheonhwadongin No. 1 Dividends Belong to ‘That Person’”].
• It cited a recording of Kim Man-bae (major shareholder of Hwacheon Daeyu) and Jeong Young-hak (owner of Cheonhwadongin No. 5), but while it did not explicitly name Lee Jae-myung (then Gyeonggi Governor), it implied “at least a ‘higher-up’ than Yoo Dong-gyu (then head of Seongnam Urban Development Corporation).”
• Follow-up investigations by Hankook Ilbo and The Hankyoreh identified “That Person” as Cho Jae-yeon (former Supreme Court Justice). The claim about “half of Cheonhwadongin No. 1 dividends” has never appeared in the recordings.
• Lee used the strong phrase “election manipulation,” suggesting he would have won the 2022 election had the Dong-A Ilbo not published the report.
• “Wouldn’t it be proper to return the award now, issue an apology, and correct the report? Because we must never let history be altered by election manipulation by power institutions and the media.”
• Correcting misinformation is a journalistic duty, separate from monitoring power. Jeong Yeon-woo (professor at Semyung University) noted, “If the media treats its own ethical standards as mere facades, it amounts to nothing more than ethics-washing.”
• Related Link.
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The Fix.

Bodybuilders as Care Workers.

• The elderly are increasing, and care workers are in short supply. South Korea faces the same issue, but Japan is experimenting with hiring bodybuilders as nursing home caregivers.
• According to the New York Times, the job offers six-hour daily shifts for $1,600 monthly, plus a two-hour gym membership. Some young workers serve as caregivers by day and mixed martial artists by night. Some facilities even provide housing.
• In Japan, one in six people is over 75. Over 70% of care workers are women. South Korea? One in 12 is over 75, and 95% of care workers are women.
• Related Link.
• Related Link.

A Fair Wage System That Pays Temporary Workers More.

• This is Kim Young-hoon’s (Minister of Employment and Labor) proposal.
• It resembles severance pay since it’s paid as a lump sum when the contract ends.
• It’s a system Lee Jae-myung (president) introduced during his tenure as governor.
• The ministry is also reviewing plans to reduce exceptions allowing the use of fixed-term workers.

When Every Minute Counts.

• Arriving at the ER within 6 minutes of cardiac arrest yields a 19% survival rate. Beyond 10 minutes, it drops to 9%. Data from the American Heart Association.
• Arriving within 30 minutes reduces mortality by 53% compared to delays over 40 minutes. Findings from Yonsei University research.
• At intersections with emergency vehicle priority systems, traffic lights change upon ambulance approach—cutting response times by 5 minutes and 41 seconds.
• Daejeon City is piloting a navigation service that displays emergency vehicle routes in real-time.
• Related Link.

Why Wills Must Be 100% Handwritten.

• Typing and signing alone holds no legal effect. The Civil Code, enacted in 1958, stipulates as much.
• Japan is pushing to revise its Civil Code to recognize digital wills created via smartphone apps.
• The U.S. allows digital drafting and remote witness participation. Its death-tech market—including will-writing platforms—is also substantial.

ICYMI.

A $2.365 Billion Magnetic Levitation Train at Incheon Airport.

• Annual operating costs alone reach $4.7 million, yet each trip carries just 34 passengers—18% of its 186-seat capacity.
• It runs 24 times daily from 10 AM to 5 PM at 35-minute intervals.
• South Korea’s first maglev train. It opened in 2016, halted in 2022, and resumed service last October. It operates a 6.1 km section with six stations between Terminal 1 and Yongyu Station.
• Related Link.

Prosecutors Reject Arrest Warrant for Bang Si-hyuk.

• Police applied for an arrest warrant, but prosecutors rejected it. Insufficient explanation implies insufficient investigation.
• Bang Si-hyuk (HYBE Chairman) is accused of lying about having no IPO plans while pushing for a listing.
• Police allege he secured 190 billion won in improper gains through a secret deal with a private equity fund, but Bang claims, “At the time, the listing was not yet finalized.”
• Related Link.

A Soldier Who Bet on the Maduro Operation.

• He wagered $30,000 and won $410,000.
• The soldier participated in the operation on December 8 last year, then created a Polymarket account on December 23 and placed 13 bets on outcomes like “Venezuela invasion” or “removal of Maduro.”
• He could face up to 60 years in prison.
• Similar circumstances were found just before the Iranian airstrike, and investigations are ongoing.
• Trump’s response: “What’s the problem?” He said, “Betting on the losing side would be an issue, but I bet on the winning side,” adding, “It’s like Pete Rose betting on his own team.”
• (Note: Pete Rose was permanently banned from Major League Baseball.)
• Related Link.

Voyager 1’s Power Runs Low.

• Its last photograph, taken 6 billion km away, was in February 1990. After that, the camera power was cut.
• Days ago, the electric particle detector was also powered down. Only the plasma wave instrument and magnetometer remain active. It is now flying 25.3 billion km away—170 times the Earth-Sun distance.
• Launched in 1977, Voyager 1 runs on a radioisotope thermoelectric generator. It’s squeezing out its remaining power, but at this rate, it will reach the end of its life by 2030.
• Related Link.

Worth Reading.

Why Holding Companies Are Sold Cheap.

• Many holding companies’ market caps fall below their net asset values.
• Combined net asset values of major holding companies like SK, LG, Hanwha, and CJ are only 50% of their market caps—80–90% in other advanced countries like Japan.
• Kim Joo-young (Hanuri Law Firm) pointed out, “The holding company system has fundamental flaws.” They’re holding companies in name only, with minimal subsidiary share ratios—barely 30% for listed firms, 50% for unlisted ones. Weak share requirements let loopholes like spin-offs and dual listings run rampant.
• There are a few solutions.
• First, raise mandatory holding ratios.
• Second, impose real liability for conflict-of-interest transactions.
• Third, reduce or eliminate tax exemptions on subsidiary dividends.
• Related Link.

A Corporate Money Shift from Company A to Company B.

• Kim Woo-chan (Professor at Korea University) believes merely shifting money from real estate to stocks is insufficient.
• Capital must move from inefficiently managed firms to efficiently managed ones. There are three reasons why this doesn’t happen smoothly.
• First, in Korea, proposing a shareholder resolution requires holding at least 0.5% of shares for six months or more (for companies with capital exceeding 100 billion won).
• Second, there is no advisory shareholder proposal system.
• Third, shareholder lists are not publicly disclosed, and proxy solicitations are rushed.
• The solution? Reverse the process. Ease shareholder proposal requirements, introduce email access to shareholder lists, and advance notice of shareholder meetings and business report disclosures to four weeks in advance.

Industrial Safety and Health Act and Special Act on Jeonse Fraud.

• It is a law built on countless deaths.
• Kim Ji-hwan (The Kyunghyang Shinmun columnist) emphasized, “The history of revising the Industrial Safety and Health Act is the history of workers’ deaths and struggles.”
• “It was revised to prioritize life over profit because colleagues, unions, and labor safety and health activists of workers who fell, were crushed, trapped, or died from illness fought in solidarity.”
• The Special Act on Jeonse Fraud is no different. Victims themselves pushed for a law guaranteeing up to one-third of lease deposits by the state.
• Follow-up legislation is needed, such as strengthening real estate agents’ duty to explain.
• Related Link.

The People Power Party’s Decline: Left and Right Must Switch Places.

• Is removing Jang Dong-hyuk enough? Kang Byung-han (Kyunghyang Shinmun political editor) thinks not.
• 68% of People Power Party supporters responded in a Gallup Korea poll after Yoon Suk-yeol’s (former president) first-instance verdict that “the December 3 emergency measures were not an insurrection.”
• The issue isn’t failing to distance from Yoon—it’s that the party remains tethered to “Yoon Again.”
• Kim Seung-ryeon (Donga Ilbo columnist) analyzed, “The People Power Party is dominated by pro-Yoon factions and hardline loyalists.” Even if Jang steps down, the next leader will likely be pushed by pro-Yoon + hardliners.
• Seong Han-yong (Hankyoreh senior reporter) pointed out, “The harm caused by incompetent leaders far outweighs that of malicious ones.” He means Yoon won’t step down.
• Analysis also suggests the Lee Jae-myung government exploited the space left as the People Power Party shifted further right. So-called “New Lee Jae-myung” drew 25% former People Power supporters and 14% Reform Party supporters.
• Park Won-seok (former Justice Party lawmaker) said, “Lee Jae-myung is the hope for Korean conservatism,” arguing conservatism shouldn’t rebuild itself but let the Lee government claim it.
• Kang Byung-han emphasized that to check the Lee government, a strong opposition must emerge not from the right but the left.
• Issues like distribution, equality, and human rights—where the Lee government is relatively neglectful—are progressive territory. “Left and right must switch places” means the Democratic Party should dominate conservative and centrist ground while progressive parties reclaim their own.
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