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.

The Supreme Court and the Blue House: Clashing Narratives.

“There was no opportunity for a meeting.” That’s the Supreme Court’s explanation.
Criticism erupted after Cho Hee-dae (Chief Justice) nominated a Supreme Court justice candidate without consulting the Blue House. No Kyung-pil (Supreme Court Administrative Office Chief) said, “(The Blue House) requested a meeting, but it didn’t happen.”
“The Blue House didn’t give a chance to meet and reach an agreement, so we had no choice but to take the last remaining option,” he explained.
No Kyung-pil claimed, “We agreed with the Blue House’s Senior Secretary for Civil Affairs on a written nomination method.”
The Blue House’s account differs. A Blue House official said, “The Supreme Court called to inform us that they would submit written nominations for Kim Sung-soo (Seoul High Court Senior Judge), with whom opinions aligned, and Son Bong-gi (Daegu District Court Senior Judge), with whom no agreement was reached.” It was a unilateral notification, not a mutual agreement.
The Chief Justice’s “nomination authority” and the President’s “appointment authority” are on a collision course. According to Kyunghyang Shinmun, Son Bong-gi himself was completely unaware.
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No Precedent for President Endorsing Specific Candidates.

According to the Hankyoreh, Lee Jae-myung (President) pushed for Kim Min-gi (Seoul High Court Judge), while Cho Hee-dae promoted Yoon Sung-sik (Seoul High Court Senior Judge)—but when Yoon was assigned as head of the rebellion-dedicated trial division, Park Soon-young (Seoul High Court Judge) was promoted instead.
The Hankyoreh reported, “The Supreme Court refused the Blue House’s proposal on the grounds that there was no precedent for a president ‘endorsing’ specific individuals, and that accepting such pressure would nullify the Chief Justice’s nomination authority.”

This Is Not the End: Who Will Select the 22 Supreme Court Justices?

Under the Supreme Court Justice Expansion Act, starting in 2028, four justices will be appointed annually, totaling 12 additional seats.
Including replacements for the nine justices whose terms will end during Lee Jae-myung’s (President) tenure, he will ultimately appoint 22 justices.
A judge familiar with internal Supreme Court affairs, speaking to the Hankyoreh, said, “If the Blue House appoints their preferred candidate for the first justice selection, the next Chief Justice might have judged that there would be no room to resist.”
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Clash Between Nomination and Consent Powers.

The Chief Justice can nominate, and the President has the authority to withhold consent. Three scenarios are possible.
First, Lee Jae-myung (President) could reject both appointments and demand new recommendations,
Second, he could submit a consent motion only for Kim Seong-su, who was pre-coordinated,
Third, he could refer both to the National Assembly but leverage the Democratic Party to block only Son Bong-ki.
A Blue House official interviewed by Kyunghyang Shinmun remarked, “Isn’t this a challenge to the President’s appointment authority and an abuse of nomination power?” adding, “It can only be seen as a provocation toward the ruling party, as if they waited for the Democratic Party’s national convention to conclude.”
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“Cho Hee-dae, Wake Up and Step Down as Chief Justice Immediately.”.

Kim Min-seok (Democratic Party Leader) said this.
“Cho Hee-dae, the worst Chief Justice since liberation, should step down,” adding, “Cho Hee-dae is a ‘legal technician.’”
Kim Min-seok criticized, “It’s the attitude of a delinquent student who causes trouble, breaks windows, and then begs to be expelled,” calling it “judicial manipulation” that “formally proposes Supreme Court justice candidates without consultation, dragging other constitutional institutions into chaos.”
Choi Min-hee (Democratic Party Lawmaker) claimed, “Cho Hee-dae’s low-intensity insurrection in the judiciary continues,” urging, “The National Assembly must begin discussions on his dismissal, including impeachment.”
A Democratic Party lawmaker interviewed by the Hankyoreh said, “The question is whether unilaterally submitting written nominations without presidential consultation constitutes a procedural violation severe enough to warrant impeachment.”
Jang Dong-hyeok (People Power Party Leader) criticized, “Threatening impeachment of the Chief Justice out of fear of resuming the president’s trial is the act of a schoolyard bully.”
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Lee Jae-myung-Cho Hee-dae, Proxy War in the Media.

Chosun Ilbo argued in an editorial, “The Blue House bears significant responsibility.”
“They demanded impeachment because the Chief Justice didn’t nominate candidates quickly, then refused to meet with the Blue House and proceeded with a written nomination—now they’re threatening impeachment again for breaking precedent. What exactly do they want?”
Cho Hee-dae’s argument was that Kim Min-gi, pushed by the Blue House, was problematic because her husband is Oh Young-jun (Constitutional Court Justice).
JoongAng Ilbo pointed out issues with both sides: “The written notification cannot escape criticism for eliminating room for smooth negotiation,” while also noting, “The Democratic Party’s reaction has gone too far.”
Kyunghyang Shinmun defined it as a “political provocation”: “This can only be seen as a ‘brinkmanship tactic’ forcing a choice between tolerating delays or appointing the nominated candidates. How is this not political interference in the judiciary and a political provocation?”
Kim Seon-jik (Korea University Professor) predicted, “Realistically, the President is likely to return the nomination to the Chief Justice and demand a review of new candidates.” There is no precedent for a President rejecting a Chief Justice’s nomination.
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What Matters Now.

U.S.-ROK Joint Training Cut Short, No Prior Notice.

Cho Jung (Minister of Foreign Affairs) said, “Neither our government nor U.S. officials were informed in advance,” yet added, “I don’t consider it a unilateral notification.”
Regarding summoning Michelle Steele (U.S. Ambassador), he stated, “I don’t think it’s a matter for protest.” The term ‘summoning’ implies a call to appear but is often used in a context of protest.
Cho Jung explained, “I believe pressure on investment issues was one motive,” adding, “There are also messages toward North Korea, and with the Iran negotiations stalled, there seems to be a complex intention to create a new breakthrough.”
Ahn Gyu-bak (Minister of National Defense) also said, “No ROK-U.S. government authorities knew the details.”
A government official interviewed by Kyunghyang Shinmun said, “It’s being read as ‘we don’t need an alliance,’ causing significant confusion within the government.”
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Kim Jong-un’s Rising Stakes: Will They Meet in November?

APEC leaders’ meeting opens in Shenzhen, Guangdong. The Wall Street Journal reported, “Discussions to meet Kim Jong-un (North Korean State Affairs Commissioner) have been conducted privately.”
Chosun Ilbo pointed out, “The specter of a U.S.-North Korea summit has begun haunting Northeast Asia again.” JoongAng Ilbo analyzed, “It means they desperately seek the best diplomatic achievement while victory in the Iran war remains distant.”
Andrew Yeo (Brookings Institution researcher) said, “Kim Jong-un has nothing to lose from meeting Trump, as he has Russia and China.” Victor Cha (CSIS Korea Chair) said, “The intention to divert attention from the Iran war is embedded.”
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Could South Korea Be Sidelined and North Korea Recognized as a Nuclear State?

Kyeongyang Shinmun warned, “To maximize diplomatic propaganda impact, it could culminate in backtracking on security pledges without prior coordination with the South Korean government or tacitly recognizing North Korea as a nuclear state.”
The Hankyoreh editorial cautioned, “Without even minimal conditions like nuclear freeze, acknowledging North Korea’s nuclear status could severely damage our ‘security interests,’ leading to the worst possible outcome.”
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Kim Yo-jong: “Not the Slightest Interest.”.

Trump claimed Kim Jong-un responded to his dialogue proposal, but Kim Yo-jong (North Korea Labor Party Secretary) dismissed it as “something we know nothing about.”
The tone wasn’t hostile. “We have already stated multiple times that our leader holds good memories and feelings toward Trump personally,” she said, adding, “The relationship between the two leaders remains excellent.”
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Deep Dive.

Biden’s Put: Will It Work?

U.S. government debt has surpassed $40 trillion.
Janet Yellen (U.S. Treasury Secretary) announced an increase in the buyback (liquidity support purchase) limit for Treasury bonds from $2 billion to at least $4 billion per operation. It’s called the Yellen Put, implying she’s buying.
Immediately after the announcement, the 10-year yield fell 6 basis points to 4.65%, and the 30-year yield dropped 9 basis points to 5.20%. Stock index futures surged.
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Will the U.S.-Iran Conflict Become a Long War?

The U.S. is reviewing measures to economically isolate Iran.
The UAE has decided to halt trade with Iran.
Iran warned Gulf states not to assist U.S. forces. Analysis suggests it has entered a posture preparing for a protracted conflict.

Bond Market Tantrum.

“Bond tantrum.” Government bond yields are soaring globally.
The U.S. 30-year Treasury yield hit 5.33% annually—the highest since 2007.
Japan’s 10-year yield also reached 2.95%, a peak since 1996.
South Korea’s 30-year government bond yield broke its all-time record at 4.75%.
Last year, OECD member states’ outstanding government debt ballooned to $61 trillion.
Fearing fiscal instability, a ‘bond vigilante’ movement has emerged—selling bonds or demanding higher yields.
Ahn Dong-hyun (Seoul National University Professor) warned, “If the government fails to reduce national debt during periods of strong semiconductor-driven tax revenue, market instability like rising bond yields will persist.”
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The U.S. Treasury Dilemma.

The U.S. and Japan both have their hands full.
The U.S. fiscal deficit is ballooning uncontrollably. Growth is slowing, inflation is rising, and hyperscalers’ capital expenditures have surged to astronomical levels.
Japan’s situation is worse. It raised interest rates for the first time in 31 years to prop up the yen, but it didn’t work. It’s selling U.S. Treasuries to defend the exchange rate, but the effects are short-lived. Japan’s national debt exceeds 200% of GDP.
Higher rates also amplify AI investment burdens. With concerns already mounting over excessive capital expenditures (CAPEX), a breakdown in any link of the circular trading chain could destabilize the entire system.

Why U.S. Treasury Yields Are Rising.

First, prices are soaring as wars proliferate. Gasoline prices have surpassed $4 per gallon, despite promises to bring them down to $2. The July CPI rose 3.4% year-on-year.
Second, the U.S. government’s fiscal deficit is ballooning. National debt has exceeded $40 trillion. Additionally, a Supreme Court ruling that retaliatory tariffs are illegal forces the government to refund $166 billion. The Congressional Budget Office projects a $3.1 trillion deficit by 2036, with debt-to-GDP reaching 120%.
Third, AI investments have surged. The four hyperscalers’ CAPEX is expected to reach $720 billion this year, rising to 3.1% of GDP next year—32% of which is debt-financed. AI-related bonds and loans total $489 billion. Treasury yields cannot help but rise in tandem.
Fourth, both China and Japan are unloading U.S. Treasuries. Chinese holdings peaked at $1.3 trillion in 2013 but have fallen to $0.6 trillion. While Japan’s holdings have dropped by $68.8 billion this year alone, its foreign reserves’ share has shrunk from 49% in 2008 to 29%.

Why Japan Is Selling U.S. Treasuries.

To defend the yen’s exchange rate.
First, the Bank of Japan raised its benchmark interest rate to 1% for the first time in 31 years. Second, prices keep rising. Third, the fiscal deficit continues to grow. Government debt has already exceeded 200% of GDP. Fourth, global government bond yields are surging.
Japan’s sale of U.S. Treasuries will only worsen the situation. The U.S. government hastily stepped in to help defend the yen’s exchange rate, but the effects were short-lived.

Another Take.

Household Debt Surpasses 2,000 Trillion Won.

Household credit balance reached 2,019.8 trillion won at the end of June—the first time it has exceeded 2,000 trillion won. It increased by 25.9 trillion won in the first quarter.
Kim Seong-jun (Head of Financial Statistics Team, Bank of Korea) said, “The increase in credit loans was unusually large compared to previous scales” and “appears to be driven by demand for stock investment funds.”
Lee Jung-hee (Professor, Department of Economics, Chung-Ang University) said, “With weak domestic economic conditions, repayment capacity is low—more loans will make household management even harder” and “the government should closely monitor vulnerable borrowers and develop countermeasures.”
The household debt-to-nominal GDP ratio fell from 88.1% at the end of last year to 85.3% at the end of the first quarter this year. The government aims to reduce it below 80% by 2030. It remains higher than the U.S. (68.1%), Japan (61.1%), the U.K. (73.6%), and France (59.7%).
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Not About Bulldozing Parks to Build Apartments.

Yongsan Park youth housing is the contentious issue. The Ministry of Land, Infrastructure and Transport says it’s in the review phase, while the Blue House insists it will proceed. Seoul City and Yongsan District remain firmly opposed.
Kim Yun-deok (Minister of Land, Infrastructure and Transport) obliquely stated, “We are considering whether there could be a limited supply of youth housing in areas where park and green space functions are partially diminished.”
The plan envisions supplying up to 10,000 units by utilizing existing officer quarters and military apartments without demolishing the park.
Ha Joon-kyung (Blue House Economic Growth Chief) said, “It’s important to make good use of this prime land.” A special law revision is also required. The stance is, “We could consider adding a clause allowing partial exclusion through deliberation if there’s a significant public interest purpose.”
Oh Se-hoon (Seoul Mayor) criticized, “The government is trying to cover up its failure to control housing prices by targeting Yongsan Park.”
Kim Young-bae (Democratic Party lawmaker) said, “If the revision passes, city mayors or district offices will have no authority, Seoul City will only be a cooperation target—not an approval body—and the Ministry of Land can simply push ahead if it wishes.”
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“The Party, Government, and Blue House Are a Community of Fate.”.

Lee Jae-myung (President) had a meal with Kim Min-seok (Democratic Party Leader), Jeong Cheong-rae (Former Democratic Party Leader), and Song Young-gil (Former Democratic Party Leader).
Kim Min-seok reportedly apologized for some harsh remarks made during the party convention process.
Speculation suggests a cabinet reshuffle may occur within this month. The Ministry of Justice and the Ministry of SMEs and Startups remain vacant, while the People Power Party demands the dismissal of Kim Yong-beom (Blue House Policy Director). A new head of the Anti-Corruption Investigation Office must also be appointed.

Jang Dong-hyeok Holds His Ground.

Jang Dong-hyeok (People Power Party Leader), facing pressure to resign, claimed, “Senior members should declare they won’t run.”
This remark was directed at a group of senior party figures who resolved to transition to a Jeong Jeom-sik (People Power Party Floor Leader) leadership system.

The Fix.

“You Can Live Comfortably While Farming Solar Power.”.

“Solar power is far more efficient than agriculture.” Some farmers took Lee Jae-myung (President)’s remark as a suggestion to abandon farming.
Kim Chang-han (Chairman, Korean Agricultural Solar Energy Association) said, “If that’s the case, it’s better not to do solar power at all.”
Ha Seung-su (Representative, Nongbon) argued, “The claim that ‘expanding renewable energy like solar and wind will solve the climate crisis’ is a scam.” “Even if renewable energy is expanded endlessly, ‘carbon neutrality’ is impossible when power demand surges.”
Jeong Min-na (Policy Committee Chair, National Farmers’ Union) said, “We endured rural devastation under the carbon neutrality goal, but the three mega-projects have shattered that entire perspective.”
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“Now Is the Time to Slow Down.”.

Sam Altman (OpenAI CEO) stated, “Ensuring AI safety is more important than a company’s growth momentum.”
OpenAI has paused training for its upcoming AI model ‘Astra’ (Astra) for two weeks and will also postpone large-scale training.

Ending the Link Between Education Grants and Domestic Tax Revenue.

10 years have seen an 18% drop in student numbers, while grants surged by 77%.
Previously, 20.8% of domestic tax revenue was allocated to primary and secondary education budgets. Criticism had already grown that the grants’ scale had become excessive as tax revenues increased.
Starting next year, a new formula will be introduced—reflecting the previous year’s grants, the average nominal growth rate over the past three years, and changes in the school-age population.
Next year’s grants will shrink from 100 trillion won to around 80 trillion won. The difference will be redirected to a future response fund.
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ICYMI.

SK Hynix to Burn 40 Trillion Won in Shares.

It’s a groundbreaking scale: 24.07 million shares at 1.662 million won each. The company will buy back 3.3% of its issued shares by November 19 and burn them all.
Excluding holidays, that’s 66 days—roughly 606.1 billion won worth of shares purchased daily.
SK Hynix’s stock price peaked at 2.987 million won on June 25, then halved to 1.5 million won on the 19th.
According to brokerage consensus, operating profits are projected to rise from 2.67 trillion won this year to 3.92 trillion won next year, reaching 3.99 trillion won by 2028.
By year-end, net cash is expected to hit 20 trillion won, with shareholder return capacity reaching 10 trillion won. Additional returns remain possible.
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Won-Dollar Exchange Rate Hits 1,397.7 Won.

An unusual situation: the won is strengthening despite surging U.S. Treasury yields. Dollars repatriated by SK Hynix from Nasdaq contributed to the exchange rate decline.
Park Hyung-joong (Economist, Woori Bank) analyzed, “It’s an unprecedented exchange rate movement—neither significantly affected by international financial market shifts nor strongly synchronized with the yen, unlike past patterns.”
Moon Jung-hee (Economist, KB Kookmin Bank) noted, “The dollar selling pressure wasn’t massive, but with no buying demand, even minor sales easily pushed the rate down.”
The KOSPI index plummeted 5.8% to 6,471.2.
Yesterday, all three major U.S. indices rose: the S&P 500, Dow, and Nasdaq gained 0.21%, 0.22%, and 0.16%, respectively. For now, markets are pinning hopes on the Fed’s intervention in bond markets.
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Unitree Shares Surge 460% on Debut.

Unitree is a Chinese humanoid robot manufacturer. Its IPO price was 150.8 yuan, but it opened trading at 1,100 yuan and closed at 845 yuan. Its market cap is 444.9 billion yuan—roughly 92.8 trillion won.
Unitree holds 97% of the Chinese humanoid robot market by shipment volume.
The Unitree R1 sells for $5,900. Few competitors can match its price competitiveness. The company also unveiled a new robot, the Superman, which runs at 12.7 meters per second and jumps 2 meters vertically from a standstill.
Over 200 core robotics firms and 1,500 supply chain companies are based in Shenzhen’s Yuentian Industrial Zone. A Weizhang Tech executive interviewed by Chosun Ilbo said, “The supply chain is so dense that 70% of key components can be sourced within a 5-kilometer radius,” adding, “That’s the strength of Chinese robotics.”
Kyunghyang Shinmun analyzed, “South Korea’s industrial sector, which has pinned its future on ‘physical AI’ as the next growth engine, is in crisis mode.”
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Worth Reading.

Slippery Writing.

Shin Hyung-cheol (Professor, Seoul National University) noted, “AI-generated text is smooth—not just smooth, but slippery.”
According to Shin, the difference between AI and humans lies in whether one can “self-generate the most intimate subjective information about their own experiences.” AI writing, while grammatically flawless, fails to accurately convey or express the ambiguous, complex emotions of the human interior.
“If I were to grade AI writing, it’s good enough for a ‘B+.’ But I don’t see any ‘A+’-worthy work. There’s no wildness. Wild writing has clear flaws but also exceptionally strong merits. AI’s ‘B+’ writing has no flaws but few merits. Human writing has powerful strengths that outweigh its flaws—a blinding brilliance that breaks through something raw.”
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What Difference From Colonial-Era Judges?

Park Yong-hyun (Hankyoreh Editorial Writer) argued, “The bureaucratic judicial system formed under colonial rule and hardened through military dictatorship still permeates the judiciary today, 81 years after liberation.”
“Judges, who should be independent, are hierarchically structured with the Chief Justice at the apex. Even Supreme Court justices are perceived as mere subordinates of the Chief Justice, and judges feel no need to heed the public’s legal common sense—they exist in a ‘fortress of their own.’ (Omitted) What difference is there between this judiciary and colonial judges who derived their authority not from the people but from the emperor?”
Labeling Cho Hee-dae as a “descendant of colonial judiciary,” he compared him to Ha Young (actor).
“Those who should face greater anger than history-oblivious entertainer families are the descendants of colonial judiciary still presiding over the courts today.”
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Kim Min-seok’s Mission: Impossible.

It’s implausible that Kim Min-seok, known for his sharpness, wouldn’t know that dropping charges or amending the constitution for a second term is impossible.
Kim Chang-gyun (Chosun Ilbo Editor-in-Chief) pointed out, “Most Democratic Party lawmakers know this too—privately, they worry about the Blue House’s grasp of reality.”
“How will he resolve the glaring contradiction between the president’s wishes and his own blueprint? A top-tier political circus from the returned ‘crown prince’ as No. 2.”
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Fourth Time’s Charm?

Moon Jae-in’s government unleashed 28 real estate measures.
Jo Hyun-sook (JoongAng Ilbo Economic Bureau Chief) noted, “The Lee Jae-myung administration, regrettably, is retracing the exact path Moon Jae-in’s government took.”
Analysis suggests the painful self-reflection in Roh Moo-hyun’s administration’s ‘40 Years of Korean Real Estate’ report remains tragically relevant.
“In the tangled roads of the real estate market, the systems and institutions meant to function as proper traffic lights sometimes tell you not to cross on red, then—when circumstances change—tell you to cross on red and not on green. Every time a real estate frenzy passes, they’ve only scrambled to restore order with frantic hand signals.”
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Confronting the “Mouth Shield”: The Self-Proclaimed Legendary Party Convention Chief.

Choi Min-hee (Democratic Party lawmaker) accused an OhmyNews reporter of being “from the Chosun Ilbo camp.” During coverage of the party convention joint speech session, she even covered the camera with paper, claiming the outlet failed to report fairly.
Lee Joo-young (Kyunghyang Shinmun Head of Planning & Content) noted, “It is regrettable that someone once called the ‘matriarch of the people’s media coalition’ has reproduced the very grammar of authoritarian media control by displaying hostile attitudes toward the press during the convention process.”
Lee emphasized, “Press freedom does not mean allowing only friendly reporters to cover events—it begins by guaranteeing the right to question even uncomfortable journalists.”
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Feedback.

[Deadline Today] Slow News Supports Independent Researchers and Journalists.

We provide solution journalism reporting grants to independent researchers and journalists under 30.
Report and write articles with Slow News. This is a project to structurally analyze long-standing issues in Korean society and explore solutions.
Applicants under 40 are eligible regardless of background.
How to apply: Send a brief reporting plan by August 20. No specific format, but it must clearly outline the issue. Email to park@slownews.kr.
Grants: 1 million KRW per project. Up to 10 projects will be conducted by year’s end.
Acceptance results will be notified individually to all applicants.
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