Slow Letter is
a curated snapshot of Korea.

We go beyond the headlines, connect the dots, and show you what really matters — with insight and edge. We surface the stories behind the noise and bring the context you didn’t know you needed. It’s not just about what’s happening. It’s about why it matters.

This English edition combines AI-powered translation with careful human editing — using Upstage Solar-Pro-2 — and it’s still in beta mode.We’re learning as we go, and your feedback is invaluable.

“Without Korea, It’s Impossible.”.

• Sam Altman (OpenAI CEO) said this.
• Lee Jae-myung (President) convened a summit in Silicon Valley, gathering Big Tech CEOs.
• Reuters analyzed, “Korea has struck a $950 billion deal with Big Tech companies.”
• SK Hynix is pursuing a partnership worth over $50 billion with Nvidia, while Samsung Electronics and Broadcom signed an MOU for a $20 billion memory supply agreement. Naver secured $10 billion in investments from Nvidia and others.
• Though the proposals are non-binding and amount to little more than goodwill gestures, they serve as a trust-building message amid ongoing concerns about an AI bubble.
• Bloomberg headlined, “This is Korea’s Golden Age,” quoting Jensen Huang (Nvidia CEO).
• The next day’s venture investment meetup included Marc Casado (General Partner at Andreessen Horowitz), Alfred Lin (Sequoia Capital CEO), Heminth Taneja (General Catalyst CEO), Barry Eggers (Co-Founder of Lightspeed Venture Partners), Vinod Khosla (Khosla Ventures Founder), and Tony Florence (NEA CEO).
• Lee announced the San Francisco AI Declaration, aiming for an “AI basic society” where no one is left behind. Lee said, “I believe AI is like humanity discovering fire anew.”
• Related Link.

“We Are Family.”.

• Lee Jae-myung (President) said this at the dinner. They ate burgers, fish and chips, and bottled beer at a restaurant in San Francisco’s Pier 39.
• Jensen Huang: “What’s Korea’s growth rate this year?”
• Lee Jae-myung: “It was near 1% last year, but this year it should exceed 3%. Thanks to you.”
• Jensen Huang: “Can I have another beer?”
• Lee Jae-myung: “The stock market is adjusting.”
• Jensen Huang: “It’ll rebound.”
• He led a toast, starting with “We are” and having everyone shout “family!” Jensen Huang responded, “We are family.”
• Related Link.

It’s Not Investment—It’s a Lockdown.

• CNBC assessed, “Nvidia has locked down SK Hynix’s memory supply.”
• Kim Yong-beom (Blue House Policy Director) explained in response to the question, “Does this include items we are purchasing, like Nvidia GPUs?”: “These are items that Nvidia and Broadcom have ordered to be produced,” and “It means we have secured that much in confirmed orders.”
• The immediate plunge in stock prices of semiconductor-related firms like Micron Technology, Intel, and SanDisk after the announcement may reflect concerns over SK Hynix’s growing dominance.
• Related Link.

What Matters Now.

Choi Tae-won-Noh So-young’s $7.1 Billion Asset Split.

• Choi Tae-won (SK Chairman) was ordered to pay 944 billion won to Noh So-young (Art Center Nabi Director) in the retrial of their divorce lawsuit—a reduction from the 1.38 trillion won awarded in the appeal.
• The ruling followed the Supreme Court’s stance that Noh So-young’s contribution should not be recognized regarding the 30 billion won in slush funds from her father, Roh Tae-woo (former president).
• The court acknowledged SK Inc. shares as marital property. Of the 2.8999 trillion won in divisible assets, Noh So-young’s share is 33.3%.
• Acknowledging the value of homemaking and childcare was also a key point. Previously, inherited or gifted assets were often excluded from division, but this sets a new precedent.
• While either party can appeal to the Supreme Court again, the ruling is likely to stand.

Choi Tae-won Need Not Sell Shares.

• From the day the ruling is finalized, a 5% annual delay penalty will apply—130 million won daily.
• At the time of the appellate ruling, Choi Tae-won’s stake was less than 3 trillion won, but now it exceeds 8 trillion won. With the stock price surge, there are ample ways to secure cash without destabilizing control.
• Selling SK Siltron shares is also under discussion. The stake is valued at around 1 trillion won.
• According to the Dong-A Ilbo, Doosan is in talks to acquire both SK’s and Choi Tae-won’s personal stakes in SK Siltron.
• Increased dividends are another possibility. SK Telecom’s stock surged over 5% intraday immediately after the ruling, reflecting such expectations.
• Related Link.
• Related Link.
• Related Link.

Complete Abolition of Supplementary Investigation Rights Set as Party Line.

• While claiming to abolish supplementary investigation rights, they are creating a dedicated department for such investigations and reviving full case transfers for certain crimes. (Full case transfer means sending all cases received by police to prosecutors.)
• This was the conclusion of the Democratic Party’s general assembly. Out of 161 party lawmakers, 106 attended and reached a unanimous decision. The plan is to process it at the plenary session as early as the 30th.
• Instead of abolishing supplementary investigation rights, they decided to transfer seven categories of crimes against vulnerable groups—sexual offenses, child abuse, domestic violence, stalking, and elder abuse—to prosecutors. Observers note this effectively revives full case transfers.
• A dedicated supplementary investigation unit will also be established within the proposed Serious Crimes Investigation Agency.
• Kim Nam-hee (Democratic Party lawmaker) argued, “We must prevent case concealment and block arbitrary investigations by law enforcement.”
• Related Link.

Jung Chung-rae’s Approval Ratings Rise on Supplementary Investigation Rights Debate.

• Many polls show him leading Kim Min-seok outside the margin of error.
• A ruling party official met by Chosun Ilbo noted, “Delaying the handling of supplementary investigation rights further would favor Jung Chung-rae.”
• Related Link.
• Related Link.

Ultimate Responsibility Lies with the President.

• Lee Chun-jae (Hankyoreh columnist) criticized the plan to entrust supplementary investigations to the Anti-Corruption Investigation Office, calling it “taking the long way around when a shortcut exists,” adding, “This organization will become a dead-end post within the agency.”
• Lee Chun-jae emphasized, “The president bears ultimate responsibility for prosecutorial reform,” stressing, “Even the Democratic Party’s core supporters cannot shoulder it in their place.”
• Kim Ye-won (lawyer at the Disability Rights Law Center) questioned, “Why protect only the socially vulnerable by labeling them as crimes?” noting, “Disabled individuals may fall victim to fraud, the elderly to embezzlement, and children to general assault or threats.”
• Yang Hong-seok (lawyer and former advisory committee member of the Prosecutorial Reform Task Force) criticized, “It is inappropriate to arbitrarily divide criteria—such as classifying child abuse victims as socially vulnerable while excluding lease fraud victims,” calling it “patchwork legislation.”
• Related Link.
• Related Link.
• Related Link.

“Words Say Pro-Myung, Deeds Defy—Drop Them All.”.

• Kim Min-seok (former Prime Minister) said this. “Do you think the Democratic Party is a party that would make three anti-Myung candidates senior leaders?” he asked, adding, “Whether it goes 5:0 is the key point to watch.”
• Of the eight senior leader candidates, three are classified as pro-Cheong faction.
• Jung Chung-rae (former Democratic Party leader) said, “Claiming there’s a Myung-Cheong war is a stupid move.”

Jung Sung-ho’s Resignation Over Opposition to Abolishing Supplementary Investigation Rights.

• Jung Sung-ho (Minister of Justice) argued, “We must ensure no single wronged victim—even 1%—is left behind.”
• Lee Jae-myung (President) rejected Jung’s resignation letter.
• In a call with a Yonhap News reporter, Jung said, “I have no more work to do, nor the will.”
• A Ministry of Justice official met by JoongAng Ilbo explained, “Having worked as a lawyer before entering politics, he worried more than anyone about the side effects of concentrated police power,” adding, “His frustration and helplessness grew after his concerns were repeatedly ignored.”
• Han Dong-hoon (Independent lawmaker) wrote on Facebook, “Fleeing does not erase responsibility,” noting, “The Justice Minister has a duty to prevent the public harm (increased manipulated/distorted investigations + ping-pong hell) caused by the Democratic Party’s ban on supplementary investigations.”
• Related Link.
• Related Link.

President’s Approval Rating Drops to 51%.

• Results from a Gallup Korea poll. Lowest since inauguration.
• Democratic Party support rises. Democrats at 44%, People Power Party at 23%.
• Related Link.

Deep Dive.

Yoon’s Election Law Violation Case: First Trial Ruling Today.

• If a fine over 1 million won is confirmed, the People Power Party must return 39.7 billion won in election expenses.
• Yoon Suk-yeol (former president) faces two charges.
• First, during the 2021 presidential campaign, when asked, “Did you introduce a lawyer to Yoon Woo-jin (former Yongsan tax office chief)?” he replied, “Nothing inappropriate occurred,” which was untrue.
• Second, when asked if he had met Geonjin Beopsa with Kim Keon-hee, he denied it—also untrue. Yoon claimed, “I meant I attended the meeting but Kim Keon-hee was not present.”

Did a Missile Fall in the US?

• After 13 consecutive days of attacking Iran, they halted. Iran also paused retaliation.
• Houthi rebels struck Saudi Aramco oil facilities, and Ukraine attacked Iranian vessels—keeping the situation tangled.

Shincheonji Mass Enrollment in the Democratic Party.

• Joint police-prosecution task force confirms signs of Shincheonji followers’ collective enrollment in the Democratic Party.
• Lee Man-hee (Shincheonji General Director) is already indicted on charges of coercing 50,000 followers to join the People Power Party.
• Donga Ilbo analyzed, “The possibility cannot be ruled out that they attempted collective membership in the Democratic Party to ‘insure’ against the newly shifted power.”
• Kim Min-seok (former Prime Minister) argued, “The essence of the party convention is to dismantle the secret tripartite alliance of anti-Cheong factionalism and Shincheonji.”
• Jeong Cheong-rae (former Democratic Party leader) countered, “I hope the investigation will be thoroughly conducted and made public.”
• Related Link.

KOSPI Rollercoaster: 10 Straight Days of Circuit Breakers.

• Financial Services Commission advanced leverage ETF regulations by five days. Raised minimum deposit from ₩10 million to ₩30 million, accepting only cash.
• Last Friday, KOSPI plummeted 5.7% to 6,690.6. Circuit breakers triggered for 10 consecutive trading days since the 10th—five sell-side, five buy-side. It’s been likened to a “parity gambling den.” This month alone: 21 triggers.
• Total net assets of six leverage ETF products shrank from ₩12.4 trillion (15th) to ₩8.9 trillion (20th), then rose to ₩10.8 trillion (23rd). Seol Tae-hyun (DB Securities analyst) stated, “To prevent the wag-the-dog phenomenon where tails wag the body, optimal net assets for single-stock leverage products are estimated at ₩5.5 trillion.”
• Negative factors abound. US 10-year Treasury yield surpassed 4.7%. Japan’s 10-year yield hit 2.8%.
• International oil prices exceeded $100/barrel.
• Last Friday’s US market also struggled: Tesla (-14.5%), Alphabet (-6.8%).
• Realmeter poll found 63.7% called single-stock leverage ETFs “misguided.”
• Related Link.

Cho Kuk Innovation Party Leader: Shin Jang-sik.

• Shin Jang-sik (Cho Kuk Innovation Party leader) said, “We reject the Democratic Party’s hostile M&A-style merger discussions.”
• Elected party leader with 97% support at last Friday’s Cho Kuk Innovation Party convention. “I cannot trust the Democratic Party’s commitment to reform,” he said, adding, “In the 2028 general election, the Cho Kuk Innovation Party will lead the charge in holding them accountable.”

Another Take.

Over 3 Billion KRW Homes: Multi-Homeowners’ Tax if Unoccupied.

• Headline on Kyunghyang Shinmun’s front page. The government is considering reducing the basic tax exemption for single-homeowners who do not actually reside in their property. The aim is to curb concentrated tax benefits on a single “smart” property.
• Arguments emerge that normalizing the tax base should precede rate adjustments. Hong Jung-hoon (Senior Researcher, Korea Urban Research Institute) noted, “In a system where the property tax assessment cap and low actualization rates of publicly announced prices persist—especially skewing lower for high-value homes—merely tinkering with tax brackets has limitations.”
• Related Link.

“Taxing in Name Only, Not in Practice.”.

• Kim Yu-chan (Hongik University professor) made the remark. The government is considering dividing the comprehensive real estate tax brackets into three tiers and increasing taxes on the highest-value properties.
• A public price of ₩3 billion corresponds to a market value of about ₩4.4 billion. The target is approximately 50,000 households, or 0.3% of all property owners. Critics argue the tax hike is merely performative.
• Lee Sun-hwa (research fellow at the National Assembly Futures Institute) pointed out, “The issue with Korea’s property taxes is not weak nominal progressivity but that overlapping exemptions and deductions have weakened the link between actual tax burdens and asset values.”
• JoongAng Ilbo criticized in an editorial, “Strengthening both property and capital gains taxes will inevitably lead to a market freeze as owners withhold properties from sale.”
• Related Link.
• Related Link.

“20 Billion KRW Deduction, the Ultimate in Regressivity.”.

• “There are cases where individuals sold a single Gangnam District home and received deductions exceeding 20 billion KRW through the long-term holding special exemption.” This was written by Lim Kwang-hyun (National Tax Service Commissioner) on Facebook.
• The Chosun Ilbo editorial argued, “The long-term holder exemption is a safety mechanism that prevents excessive tax burdens by accounting for inflation-driven price increases for citizens who have held and resided in properties long-term.” It added, “Suddenly labeling everyone as speculative forces by citing extreme cases of ‘smart’ single-property owners in specific areas is misguided.”

Kwon Young-jin’s Collar Grabbed by Jeong Kum-sik.

• Kwon Young-jin (People Power Party lawmaker) wanted to serve as deputy head of the Intelligence Committee. When Jeong Kum-sik (People Power Party floor leader) assigned Kwon to the deputy head of the Administrative and Security Committee instead, Kwon grabbed his collar in protest. Shouting, informal speech, and profanity ensued.
• Choi Bo-yun (People Power Party spokesperson) said, “Many lawmakers argue this is not a matter that can be resolved with a simple apology.”
• The Dong-A Ilbo editorial noted, “Even as the Democratic Party engages in mudslinging—using derogatory terms and refusing to back down in the ‘grave relocation’ debate—the People Power Party’s failure to capitalize on this reflects its current predicament.”
• Related Link.

Why Saudi Arabia Can Enrich Uranium, but South Korea Cannot.

• The U.S. has decided to allow Saudi Arabia to enrich uranium. The New York Times criticized it as a double standard.
• The Korea Daily pointed out, “The U.S. still does not fully trust South Korea’s commitment to denuclearization.”
• The JoongAng Ilbo warned, “The U.S. started a war under the pretext of eliminating Iranian nuclear capabilities, yet it could now trigger a nuclear development domino effect in the Middle East.”
• In an editorial, the Dong-A Ilbo emphasized, “If South Korea begins uranium enrichment, it could supply the U.S. and provide an opportunity for the U.S. to diversify its import sources.” It added, “This would not only benefit South Korea but could also become a ‘win-win’ moment for the ROK-U.S. alliance, expanding into ‘low-enriched uranium supply chain cooperation.’”
• Related Link.
• Related Link.

South Korea Faces 12.5% Forced Labor Tariff.

• Mutual tariffs rose from a global 10% to 12.5% as the forced labor duty took effect. An additional 2.5% overproduction tariff could also be applied.
• Analysts note, “It’s not over until it’s over.”

Will North Korea Send 30,000 More Troops?

• Volodymyr Zelenskyy (Ukrainian President) made the claim. So far, around 14,000 North Korean soldiers have been sent to Russia. The claim is that Russia is requesting a deployment exceeding double that size.
• Choe Son-hui (North Korean Foreign Minister) visited Moscow and met with Vladimir Putin (Russian President).

Democrats on X, People Power Party on Threads.

• Analysis suggests the echo chamber effect is intensifying.
• Kim Nam-jun (Democratic Party lawmaker) said, “Threads has a high proportion of conservative users, so we recently stopped using it.”
• Kim Min-su (People Power Party Supreme Council member) said, “X and Facebook have high political engagement, creating fake public opinion. Threads is the fastest platform to detect real sentiment.”
• In fact, Joo Jin-woo (People Power Party lawmaker) recently surpassed 8.96 million views.
• The JoongAng Ilbo assessed, “The People Power Party has preemptively claimed Threads, which was previously an empty house.”
• Related Link.

The Fix.

‘World Heritage’ Tidal Flats Area Expands.

• Expanded from 1,284 km² to 1,563 km².
• Result of the UNESCO World Heritage Committee meeting underway at BEXCO in Busan.

Jongmyo Development Must Undergo Heritage Impact Assessment.

• Lazare Eloundou Assomo (UNESCO World Heritage Center Director) stated this.
• First, regulatory tools must be well prepared.
• Second, a process to assess how development impacts the heritage must be followed.

Rise in No-Venue Funerals.

• Funerals are being simplified, much like small weddings.
• Only the mourning meal is omitted; the rest remains similar. A funeral can be held for 2–3 million won.
• The average funeral cost in South Korea is 13.8 million won.

ICYMI.

China’s AI ‘Four Heavenly Kings’.

• Liang Wupeng (DeepSeek CEO), Yang Zhirun (Moonshot AI CEO), Tang Jie (Zhipu AI CEO), and Yan Junjie (Minimax CEO) are known by this term. Their ages are 41, 34, 49, and 37 respectively.
• The share of AI researchers among the top 20% globally who received undergraduate education in China rose from 29% in 2019 to 51% in 2025.
• Jensen Huang (NVIDIA CEO) remarked, “Chinese open models are excellent” and insisted, “U.S. companies should be able to use them.”

330kg of Scrap Paper Yields Just 12,000 Won.

• If scrap paper is wet, 20–30kg is deducted from the final weight.
• Last year, scrap paper was priced at 80–90 won per kg; this year, it plummeted to 30–40 won.
• A Ministry of Health and Welfare survey counted 14,831 elderly scrap collectors, with an average age of 78.1.

Worth Reading.

Victims Have Always Been Treated as Public Property.

• “My misfortune was already decided. But perhaps others’ misfortune can still be prevented. So I sold my own suffering to barely buy relief for others. Yet with the abolition of supplementary investigative powers and prosecutorial reform, my struggle became meaningless.”
• These were the words of Kim Jin-joo (pseudonym), a victim of the “kickback incident,” speaking at a Democratic Party debate.
• Kwak A-ram (Books Team Leader at Chosun Ilbo), who authored “The Exceptional Victim” based on her stalking experience, criticized, “The National Assembly’s poster for the Criminal Procedure Act revision debate depicted victims as disheveled, head-down women—despite calling it a ‘victim-centered’ discussion. It felt degrading.” She added, “The Democratic Party’s sensitivity toward victims is exactly at this level.”
• Related Link.

Nuclear Power Plants Cannot Keep Pace.

• Park Ji-hye (Democratic Party lawmaker) said, “Public opinion that ‘we need more nuclear power plants’ has grown stronger than before,” adding, “If the Democratic Party only emphasizes the dangers of nuclear power as it once did, wouldn’t it appear dogmatic?”
• The issue, however, is speed. Park Ji-hye noted, “New nuclear reactors and SMRs must be carefully reviewed.” The story goes: “It is the role of the National Assembly and the government to ensure these projects are pursued within the ‘guardrail’ of carbon neutrality goals.”
• Related Link.

Mega-Environment Projects Are Needed.

• Jang Su-kyung (Hankyoreh Earth Environment Team Leader) pointed out, “While securing the power and water needed for mega-projects is ‘full speed ahead,’ reducing greenhouse gases is ‘sudden braking.’”
• “At this rate, the Ministry of Climate and Energy cannot avoid criticism as the ‘second division’ of the Ministry of Trade, Industry and Energy,” she argued, adding, “It must also present a ‘mega-environment’ strategy worthy of the ‘mega-projects.’”
• Related Link.

Machiavelli’s Advice.

• “At first glance, it may appear rigidly disciplined. The orderly movements might seem reassuring. But internally, it is festering.”
• Yoon Bi (professor at Sungkyunkwan University) warned, “The president is too directly involved in administrative affairs.”
• In The Prince, Machiavelli noted, “The reason politicians suddenly fall from success is their fixation on past formulas for achievement.”
• Yoon Bi assessed, “Lee Jae-myung (president) remains bound to the success formula of his past as an administrative achiever.”
• “Now, the president must transcend the role of a merely competent top bureaucrat. If Machiavelli were alive, he would likely offer the same counsel to Lee Jae-myung today.”
• Related Link.