Jung Yong-jin’s Tail-Cutting.

• He began by saying, “I will make no excuses,” yet failed to provide the necessary explanations.
• He stated, “I sincerely bow my head in apology and seek forgiveness,” but did not specify what he had done wrong.
• Jung Yong-jin (Chairman of Shinsegae) held a press conference yesterday. He said, “We will remember our society’s history and sacrifices and always deeply understand and respect the people’s hearts,” but it rang hollow.
• Jeon Sang-jin (Shinsegae Vice Chairman) stated, “We conducted a high-intensity internal investigation but found no clear evidence proving intentional wrongdoing to date.”
• The explanation was that three team members who planned events like ‘Tank Day’ refused to submit their smartphones, and no messenger records remained, limiting the investigation. He said, “If intentional wrongdoing is proven, we will take disciplinary action and pursue civil and criminal liability,” but it ultimately amounted to a statement that they would cover it up at this level.
• Related Link.

Are “Mullyong” and “Tank Day” Unrelated?

• Jung Yong-jin did not mention past controversies he himself sparked, such as the “Mullyong” issue.
• Jeon Sang-jin emphasized, “I will reiterate that the chairman’s past remarks are unrelated to this promotion.”
• The statement, “Though our thoughts may differ, our desire to build a better Korea and leave a better world for future generations is the same,” was also inappropriate. Kyunghyang Shinmun called it “absurd” in an editorial.
• Han Bang-jin (Director of the Korean Historical Research Institute) criticized it as “the normalization of far-right mockery culture.” He explained, “Not knowing that while one may recognize the May 18th Gwangju Uprising, using it mockingly in an ad slogan reflects a complete lack of historical sensitivity.”

What Matters Now.

A Cup of Coffee’s Freedom?

• Jang Dong-hyeok (People Power Party Leader) claimed, “We must judge the lawless regime that seeks to take away even the freedom of a single cup of coffee.”
• Kim Bu-gyeom (Democratic Party Daegu Mayor Candidate) noted, “I hope this will stop here” and added, “The government or political circles should not publicly pressure specific companies or create an atmosphere of condemning consumption itself.”
• Kang Jun-hyun (Democratic Party Spokesperson) said in the morning, “I believe there was sincerity,” but by afternoon, stated, “This was not discussed in advance with the party” and pointed out, “It should not end with an empty apology.”
• The Hankyoreh criticized in an editorial, “Criticism arises that the entire company is steeped in ‘Ilbe culture.’” It added, “With ad-hoc responses that merely weather the storm and tail-cutting tactics, it will be difficult to regain lost trust.”
• Related Link.

Media’s Own Tail-Cutting.

• JoongAng Ilbo criticized in an editorial, “The government’s overreaction and political polarization must also be restrained.”
• Ahn Hye-ri (JoongAng Ilbo editorial writer) remarked, “When power redefines corporations through merciless language, both companies and individuals shut their mouths—this is the purpose of newspeak, does the government want that?”
• (‘Newspeak’ is a term coined by George Orwell in his novel ‘1984,’ referring to deceptive language intentionally distorted or simplified by governments or authorities to control the public and limit critical thinking.)
• Chosun Ilbo noted in an editorial, “It was not a matter for the president, ministers, and ruling party to collectively attack.”
• Related Link.
• Related Link.

Starbucks Korea: Full Refunds Without Conditions.

• Refunds can be received from the 1st to the 14th of next month.
• Until now, customers had to spend at least 60% of the loaded amount to qualify for a refund.
• As of the end of last year, Starbucks Korea’s prepaid card balances totaled 400 billion won.
• Related Link.

Seosomun Overpass Collapse Kills Three.

• A slab sank approximately 3 cm during demolition work. While Seoul halted construction for safety checks, a girder (support beam) collapsed.
• Three died and three were injured.
• Related Link.

“No Problem Returning Wartime Operational Control Tomorrow.”.

• An Gyu-baek (Minister of National Defense) said, “There is no major issue,” to which Lee Jae-myung (President) pointed out, “It’s not just no major issue—it should be stated as no issue at all.” An Gyu-baek corrected himself, “No issue at all.”
• Lee Jae-myung emphasized, “We must restore the status of a sovereign and independent nation as defined by the Constitution.”

Nuclear-Powered Submarine Budget: 29 Trillion Won.

• Half of this year’s 65 trillion won defense budget. A special account may be required. (Transferring wartime operational control costs around 40 trillion won.)
• The goal is to use fuel enriched below 20% and launch by the mid-2030s. Coordination with the U.S. has not yet been finalized.
• The decision to build domestically also requires U.S. approval.
• The project is called the “Jang Bogo N Project.” The N stands for Next (next-generation), Nuclear, and Neo (advanced). It will not carry nuclear weapons. Emphasizing “armament with conventional weapons” is a response to concerns from the U.S. and others.

Deep Dive.

Deadline for Unification: Tomorrow.

• Gyeonggi Pyeongtaek B, Busan Buk-gap, and Ulsan are tight races. Unification could flip the script, but even without it, predictions remain elusive. Variables like turnout are high, and polls are hard to take at face value.
• Early voting is on the 29th and 30th. Unification after voting begins holds no meaning.
• The Ulsan mayoral race has Kim Sang-wook (Democratic Party candidate) at 37% and Kim Doo-gyeom (People Power Party candidate) at 32% within the margin of error. Unification between Kim Sang-wook and Kim Jong-hoon (Progressive Party candidate) is likely to fail.
• The Pyeongtaek B by-election has Kim Yong-nam (Democratic Party candidate) at 30% and Cho Kuk (Cho Kuk Innovation Party candidate) at 25% within the margin of error. Unification is highly unlikely.
• The Busan Buk-gap by-election has Ha Jung-woo (Democratic Party candidate) at 34% and Han Dong-hoon (Independent) at 38% within the margin of error. Park Min-sik (People Power Party candidate) is at 23% but likely to run to the finish without unification.
• (Results from Korean Research, Gallup Korea, and Ace Research. Ulsan and Pyeongtaek B used phone interviews; Busan Buk-gap used ARS polling.)
• Related Link.

300,000 Electrons and 2 Million Nixs.

• It hit 8047.5. Expectations of an end to the U.S.-Iran war lifted stock prices.
• Market cap is 658.1 trillion won. World’s 7th largest. Year-to-date gains approach 90%.
• Today, right after opening, both Samsung Electronics and Nix surged over 7% and 10%, respectively. (As of 09:10 AM)

Kim Soo-hyun Defamation, Kim Se-ui’s Detention.

• The court issued the arrest warrant, citing “risk of evidence destruction and flight.”
• Kim Se-ui (CEO of Garoseoro Research Institute) claimed, “Kim Soo-hyun (actor) had a relationship with Kim Sae-ron (actor) since her teenage years and engaged in sexual intercourse.”
• He alleged Kim Sae-ron’s suicide was due to Kim Soo-hyun’s debt repayment pressure, but this has not been verified. A voice recording of Kim Sae-ron played on air was later revealed to be AI-generated.
• Related Link.

Another Take.

What Jeong Cheong-rae and Jang Dong-hyeok Left Unsaid.

• Because setting victory criteria means bearing responsibility. After the election, the Democratic Party will move to its leadership race, while the People Power Party faces the question of whether Jang Dong-hyeok (People Power Party leader) will step down.
• Jo Seung-rae (Democratic Party Secretary-General) said, “The goal is to win at least one more.”
• Jang Dong-hyeok mentioned Seoul and Busan as victory benchmarks but remains tight-lipped. His term ends in August next year. Some speculate that securing around four of the 17 metropolitan mayoral seats could help him pass a confidence vote.
• A People Power Party official met by Kyunghyang Shinmun said, “One certainty is that if Han Dong-hoon (independent candidate) wins, it becomes Jang Dong-hyeok’s failure.”
• Related Link.

Seoul Apartments Rise for 67 Straight Weeks.

• They decided to increase non-apartment housing supply.
• Deregulating urban residential housing. 40,000 households by next year, 110,000 by 2030.

Hormuz Strait Insurance Costs Reach $2 Million.

• HMM cargo ships escaped without tolls, but insurance burdens remain substantial.
• Twenty-five Korean vessels remain stranded in the Hormuz Strait.
• Related Link.

Samsung Electronics + Nix Performance Bonuses: 260 Trillion Won Over Three Years.

• Seon Woo-jeong (Chosun Ilbo columnist) noted, “Bonuses of this scale could change the future of humanity.” While SpaceX raised $120 trillion through its IPO, more than double that amount is being paid in performance bonuses.
• Apartment prices in areas where the two companies’ shuttle buses pass have surged, giving rise to the term “shuttle premium.”
• Seon added, “No rational entrepreneur would make such a choice” and called it “madness.”
• Ha Jong-gang (professor at Sogang University) observed, “Labor issues always have both negative and positive aspects” and noted, “History shows that while it takes time, society changes according to the arguments of those striving for greater equality.”
• Related Link.
• Related Link.

The Fix.

1.1 Billion Won for Free Buses: “Isn’t This Real Welfare?”.

• Jeongseon County in Gangwon Province offers free buses.
• During the public bus system era, losses amounted to 2.9 billion won—adding 1.1 billion won more made it completely free. At less than 0.2% of the total 667.7 billion won budget, the impact has been significant.
• Go Ji-sun (Green Transition Institute regional transition team leader) assessed, “It’s a welfare policy guaranteeing mobility rights for transportation-vulnerable groups and holds substantial meaning in climate justice.”

Vertical Parking Lines, Installation Cost: 6,000 Won.

• Visible via side mirrors, they enable “precision parking” by making lines easily identifiable.
• Gongju City was the first to adopt them. Satisfaction reportedly stands at 97%.
• Related Link.

ICYMI.

BTS Wins American Music Award for ‘Artist of the Year’.

• ‘Artist of the Year’ is the biggest award. BTS won it, beating Bruno Mars and Taylor Swift.
• It is one of the three major music award shows. The AMA determines winners by fan voting.
• K-pop swept 11 awards, including CATHEX and ‘K-pop Demon Hunters’.
• BTS’s goal is the Grammy Awards. They’ve been nominated multiple times but have never won.
• Related Link.
• Related Link.

Worth Reading.

The Difficulty of Shutting Down Ilbe.

• First, it falls under the realm of “thought laws.” There is speculation that Chung Yong-jin’s (Chairman of Shinsegae) political leanings have become ingrained in company culture, but there is no way to confirm this.
• Second, Ilbe is effectively in a state of suspended animation. Proving a correlation between Tank Day and Ilbe is also difficult.
• Third, punishment is not straightforward. It is not the same as Germany’s crime of inciting people to hatred.
• Shin Joon-bong (JoongAng Ilbo columnist) pointed out, “If Ilbe is the result of anger from lacking social recognition finding an outlet in cyberspace, eliminating the site alone won’t prevent another Ilbe from emerging.”
• Related Link.

This Is a Cultural Struggle.

• Shin Jin-uk (Chung-Ang University professor) disagrees. “The Tank Day controversy is a sign that the 1987 consensus is being challenged at the grassroots level,” he argues. It is a cultural struggle and a battle over values. Hence, “while explicit threats must be blocked by law and government authority, the majority of actions in the gray zone require a different response.”
• Messages like “tap on the desk” that only insiders recognize are called “dog whistles.” First, to avoid punishment and criticism; second, to communicate covertly; third, to strengthen identity and solidarity.
• Shin believes this breaking of taboos could become a normal part of society—or even mainstream. Calculated ambiguity is used to send provocative messages, then deny intent when criticized. If sanctioned, they play the victim and invoke free speech. This process, he argues, desensitizes and polarizes society.
• Boycotts are necessary, as are all tools—history education, media norms. “We must build active defenses for democracy,” he insists.
• Related Link.

Three Mistakes.

• First, postponing solutions to inequality issues on the grounds that the economy will improve,
• Second, believing that the fruits of growth will eventually trickle down,
• Third, viewing public finances merely as costs to be saved.
• Woo Suk-jin (Myongji University professor) emphasized, “To avoid repeating the mistakes made after the foreign exchange crisis, we must not only focus on the speed of growth but also present a vision of a welfare state that allows everyone to share in that growth.”
• Related Link.