Cho Hee-dae’s State Council Investigation.

• The Democratic Party held a general meeting to gather opinions.
• Jeon Eun-soo (Democratic Party spokesperson) said, “There were no differing opinions,” but a Democratic Party lawmaker met by Kyunghyang Shinmun remarked, “What benefit is there in fighting the judiciary?” A key ruling party official interviewed by Chosun Ilbo pointed out, “If we proceed with impeachment, approval ratings in the 30% range could be halved.”
• Observers suggest that even after a plenary session vote, the actual investigation may only begin in late November or early December. A majority vote from attending lawmakers is required.
• Han Byung-do (Democratic Party floor leader) stated, “Suspicion has piled up layer by layer,” adding, “It is the National Assembly’s duty to resolve doubts.”
• Na Kyung-won (People Power Party lawmaker) claimed, “This level of action constitutes destruction of the separation of powers and grounds for dissolving a political party.”
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A Risky Precedent.

• The Hankyoreh editorial stated, “The greatest responsibility lies with Cho Hee-dae (Chief Justice).”
• The Kyunghyang Shinmun editorial noted, “Whether this becomes an opportunity to correct judicial distrust or a dangerous precedent undermining the separation of powers depends entirely on how faithfully the truth is uncovered.”
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What Matters Now.

Gori Nuclear Reactors to Operate for 10 More Years.

• Gori Units 3 and 4 will extend their lifespans by 10 years, until 2034 and 2035, respectively.
• They were licensed in 1984 and 1985, and their 40-year design lifespans have expired, leaving them idle.
• Lee Hun-seok (Energy Justice Action Policy Committee) argued, “Not even enough time for proper review was given.”
• 3.82 million people live within a 30km radius.
• The reactors now approved for lifespan extensions are Gori Unit 1, Wolsong Unit 1, Gori Unit 2, and Gori Units 3 and 4—five in total. Gori Unit 1 and Wolsong Unit 1 were permanently shut down in 2017 and 2019, respectively, while Gori Unit 2 will operate until 2033.
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Q3 Growth Rate Surges to 1.0%.

• The Bank of Korea’s forecast of 0.3% was significantly exceeded. Roughly half of the growth came from semiconductors.
• Exports rose 2.3% and equipment investment increased by 4.1%. Government spending grew 1.9% while private consumption fell 0.2%.
• Lee Dong-won (Bank of Korea Head of Economic Statistics) said, “If the fourth quarter exceeds 1.4%, annual growth of 4% is possible.”
• Employment rates declined and self-employed delinquency rates rose. Kang Sung-jin (Korea University professor) stated, “Debt-dependent livelihood startups must be reduced.”
• The Kyunghyang Shinmun noted, “The Bank of Korea must enhance its growth forecasting capabilities.”
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“Visit Once a Month.”.

• Kim Ji-yong (Head of the Corruption Investigation Office) attended yesterday’s State Council meeting.
• “What does attending or not attending a public meeting have to do with political neutrality? When the head didn’t attend State Council meetings, was neutrality among investigative agencies better maintained?” said Lee Jae-myung (President).
• “Visit once a month” was a compromise.
• A Corruption Investigation Office prosecutor interviewed by Kyunghyang Shinmun said, “If the head meets with power holders weekly, any investigation results will lose credibility later.”
• Related Link.
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Kim Keon-hee’s Detention Extension.

• Kim Keon-hee’s detention period was set to expire on the 31st, so the special prosecution requested an extension and the court approved it.
• Kim Keon-hee is standing trial on charges including Deutsche Motors stock price manipulation, Unified Church bribery, and influence-peddling.
• The Deutsche Motors case saw a sentence of four years in prison and a 50 million won fine in the appellate court.
• The influence-peddling case received a five-year prison sentence in the appellate court.

Deep Dive.

Was the Farmland Survey a Song Mi-ryeong Proposal?

• “Originally, I thought we should check the situation of farmland near the capital area for speculative purposes. But then Song Mi-ryeong (Minister of Agriculture, Food and Rural Affairs) suggested, ‘Since we’re doing this, let’s do a full survey,’ so we did it. It wasn’t about seizing farmland or imposing punitive measures.”
• Lee Jae-myung (President) said this. Chosun Ilbo criticized, “He shifted responsibility to the minister.”
• The farmland survey was indeed ordered by Lee Jae-myung at a State Council meeting in February.
• Jeong Jeom-sik (People Power Party floor leader) criticized, “As the situation becomes unfavorable, his cowardly attempt to pin responsibility on subordinates while claiming he never intended this leaves me speechless.”
• Related Link.
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The State Was Absent.

• The special investigation committee’s findings were released ahead of the fourth anniversary of the Itaewon disaster.
• The Ministry of the Interior and Safety reported to Lee Sang-min (then-Minister of the Interior and Safety) 43 minutes late, and Yoon Suk-yeol’s (then-President) instruction to “center emergency response efforts under the Ministry” was relayed only after 55 minutes.
• A statement emerged: “If the president’s directive is transmitted, the ministry might become the disaster management agency.”
• While police claimed to have received 11 reports and dispatched units four times, it was confirmed they never actually responded.
• Of the 120 officers on-site, 49 were narcotics investigators.
• In an editorial, The Hankyoreh emphasized, “Those responsible for delayed reporting and subsequent cover-ups must be identified and held accountable.”

A Major Fire in Guryong Village.

• 110 firefighting units, six helicopters, and over 800 personnel including police and public health workers were deployed.
• No casualties were reported, but 107 people lost their homes.
• Residents at an evacuation center interviewed by The Hankyoreh said, “We want homes to return to.”
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Lim Seong-geun Sentenced to Three Years.

• Final ruling in the Chae Sang-byeong case came after three years and three months.
• The Supreme Court upheld the lower court’s verdict against Lim Seong-geun (then-Marine Corps division commander).
• The first-instance court ruled, “He cared only about media exposure and paid no attention to safety measures.” The appellate court noted, “He abandoned his minimal moral duty.”
• In an editorial, Kyunghyang Shinmun pointed out, “The remaining task is to identify and hold accountable the ‘higher-ups’ who tried to protect Lim Seong-geun.” Yoon Suk-yeol (then-president) and Lee Jong-sup (then-Defense Minister) are standing trial on charges including abuse of authority.
• Related Link.
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“Landmines Are Defensive Weapons.”.

• “It’s difficult to determine intent.” The National Assembly audit venue erupted over Jeong Dong-young’s (Unification Minister) remark.
• Kim Geon (People Power Party lawmaker) countered, “Planting them on someone else’s land and wishing harm upon them is an act of aggression.”
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“Can We Trust the U.S. Military?”.

• “The U.S. is struggling in the war against Iran. Can we trust a U.S. military that’s in such a state if a war with North Korea breaks out? No.”
• Kang Shin-chul (Minister of National Defense) also sparked heated debate with his remarks.
• The Ministry of National Defense explained, “The intent was to emphasize trust between South Korea and the U.S.”
• Ahn Hye-ri (JoongAng Ilbo columnist) noted, “It’s true that such unnecessary remarks give ammunition to claims that South Korea is freeloading” and added, “At this point, wouldn’t they deserve criticism for ingratitude?”
• Related Link.
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Another Take.

Is Anthropic Finally Turning a Profit?

• Anthropic’s IPO data shows $4.6 billion in revenue last year. This year, it’s $33 billion through September.
• Second-quarter operating profit was $1 billion, with an 8% operating margin.
• Some call it a “relief rally.” South Korea’s Kospi and Kosdaq indices also rose 3.1% and 2.3% yesterday, respectively.
• Florian Eylert (Lombard Odier Asset Management manager) assessed, “Clear evidence that AI demand is translating into actual sales.”
• Market reaction? Many note costs have fallen but the market remains small.
• In Q1 last year, costs exceeded $2.50 per $1 of revenue; this Q2, they dropped below $0.50.
• Long-term contracts are increasing, but the proof is in the pudding. Computing and infrastructure deals with Google, Amazon, and others total $637 billion.
• All three major U.S. indices rose: Nasdaq up 1.18%, S&P 500 up 0.60%, and Dow closing flat (+0.03%).
• Related Link.

Anthropic’s Post-IPO Challenges.

• The Financial Times analyzed, “Anthropic does not grant control to ordinary shareholders.”
• Anthropic maintains a structure where founders like Dario Amodei (Anthropic CEO) retain 50.1% of voting rights.
• At the top of its governance sits the [Long-Term Benefit Trust], with directors including Ben Bernanke (former Federal Reserve Chair) and Christopher Stubbs (Harvard professor).
• Anthropic warned investors, “Do not view stock purchases purely as a transaction,” adding, “It may conflict with investor expectations.”
• The Wall Street Journal cautioned, “Anthropic could either save humanity or destroy it.” Safety is the keyword.
• Sinan Aral (MIT professor) stated, “The question is where sustainable value will come from.”
• Related Link.
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Will the 50% Who Dislike Trump Vote?

• 87% of those who voted for Kamala Harris (Democratic candidate) two years ago said they would support the Democratic candidate again, according to a Pew Research Center survey. Among Trump voters, 77% said they would back the Republican candidate.
• Nate Silver (Silver Bulletin operator) analyzed that 20% strongly support Trump, while 50% strongly oppose him.
• Patrick Ruffini (Echelon Insights analyst) warned, “You can read the overall mood correctly but still misread the electoral map.”
• Lynn Vavreck (UCLA professor) said, “Polls haven’t gotten worse—elections have just become harder to predict.” She explained that while polls with a 3-point margin of error can gauge races with a 7-point lead, predicting winners in 1–2-point races remains extremely difficult.

“America’s Golden Age Is Now.”.

• Matthew Hennessey (Wall Street Journal editor) claimed, “Americans are wealthier today than ever before.”
• 1935 gasoline prices, adjusted for inflation, were $4.92 per gallon. Over the same period, average income nearly doubled in real terms.
• Matthew Hennessey criticized, “Populists on both left and right ignore long-term improvements in living standards.”
• Related Link.

Lula Won, Yet Stocks Plunged.

• The Bovespa index plummeted 13.9%. The dollar-real exchange rate fell 8%.
• Brazil’s fiscal deficit is 9.5% of GDP, public debt 83%. The benchmark interest rate is 13.8%.
• Pablo Rivelli (Schroder analyst) stated, “Tax collection improvements are needed, as well as spending cuts.”
• Brazil’s mandatory expenditures—social security and wages—account for 90% of the budget.
• Related Link.

Xi and Trump’s Divergent Visions.

• The U.S. and Russia each possess thousands of nuclear warheads. From Beijing’s perspective, there is reason to demand arms control.
• According to a Wall Street Journal reporter, China wants to stage a meeting between the U.S., China, and Russia as the most significant event in world political history.
• If the three powers gather to discuss Ukraine’s fate, Taiwan could be next on the agenda. The Wall Street Journal noted, “Xi’s good fortune comes with a price.”
• Related Link.

The Fix.

Be Ready Campaign.

• The UK government’s campaign urging citizens to prepare emergency supplies to survive for three days.
• It includes 9 liters of bottled water (3 liters per day), emergency rations, cash, a first-aid kit, a flashlight with spare batteries, and a hand-crank FM radio.
• Lee Myung-hee (Kyunghyang Shinmun columnist) emphasized, “The emergency supplies I prepare can save my life—and by yielding social resources, they become the foundation for solidarity, ensuring aid first reaches neighbors in urgent need.”
• Related Link.

The Paradox of Subsidies.

• The government subsidized postpartum care centers—and their fees rose.
• Since 2022, birth vouchers called [First Encounter Coupons] have been issued: 2 million won for the first child, 3 million won for the second and beyond.
• According to the Ministry of Health and Welfare, the 2-week fee at private postpartum care centers rose from 2.76 million won in 2020 to 3.84 million won in 2025—a 39.1% increase.
• Some predict fees will rise further when the [Child Welcoming Support Fund] is introduced next year.
• It’s a paradox of subsidies similar to how a 300,000-won hearing aid ended up selling for 1.32 million won after being covered by national health insurance.
• Lee Chul-hee (Seoul National University professor) emphasized, “When cash flows, demand grows—and in the private market, prices inevitably rise even without collusion.”
• “Essential services require balancing supply by expanding public infrastructure to provide the service itself.”
• Related Link.

ICYMI.

Why Are Opera Tickets So Expensive Yet Still in the Red?

• Peter Gelb (General Manager of the Metropolitan Opera) stated, “One-third of operating costs are covered by ticket sales and other revenue, while two-thirds rely on donations.” He described it as “a financial model that is not impossible, but extremely challenging.”
• The Metropolitan Opera’s 2023 operating expenses were $330 million, with ticket and touring revenue at $70 million.
• A Opera Europa survey found that government subsidies account for over 68% of European repertoire opera companies’ budgets.
• What about the U.S.? For opera companies with budgets exceeding $15 million, government support is less than 2%.
• Opera Philadelphia took the opposite approach, lowering prices. Anthony Ross Cohan (President of Opera Philadelphia) set a minimum $11 ticket price and allowed patrons to pay as they wished.
• The comment emerged: “Those who care will buy tickets.”
• Related Link.

1.94 Million with Depression and Anxiety Disorders.

• 19% increase over four years.
• Lee Hun-jung (Professor at Korea University Anam Hospital) said, “This could reflect a positive shift—lowered psychological barriers leading more people to seek treatment despite previous reluctance.”
• Related Link.

Worth Reading.

The Unwritten Rules of Korean Society.

• Does “deferring parking enforcement during lunchtime” mean you can park—or that you shouldn’t, but they’ll turn a blind eye?
• Hwang Il-woo (Professor at Seoul National University) pointed out, “Koreans excel at creating unwritten rules.”
• “Without clear rules, outcomes can be arbitrarily altered. Reading the room undermines fairness. Bold individuals or those close to power benefit in a society without rules. The losses, however, fall to those who quietly follow them.”
• Related Link.

AI Model Imperialism.

• Kim Sung-woo (applied linguist) criticized Claude’s acquisition of used books as “the most heinous act of intellectual property plunder in history.”
• “While 20th-century discussions of cultural imperialism focused on one-way distribution of films and broadcasts, platform imperialism targeted control over information channels. Now, a handful of foundation models synthesize knowledge and influence human judgment. The center of power is shifting from information distribution to the standards by which the world is interpreted.”
• Seo Yong-seok (KAIST professor) proposed, “We must build a digital foundation for Korean knowledge and negotiate for compensation, source disclosure, and preservation of originals.”
• Related Link.
• Related Link.

Excess Tax Revenue: The Seed Potato.

• Lee Jeong-dong (Professor at Seoul National University) warned, “The moment excess tax revenue is mistaken for permanent income and spending structures expand, post-boom fiscal burdens become unmanageable.”
• Even in famine, seed potatoes are not eaten. Lee Jeong-dong emphasized, “The tax revenue from the semiconductor boom is not today’s sustenance but tomorrow’s seed potato.”
• “These funds must be invested in uncharted technologies the market has not yet funded, challenges requiring long trials, and the talent to endure them. Project selection and evaluation must prioritize long-term accumulation over single-year results. Before current veins of wealth dry up, the next ones must be found.”
• Related Link.

Are All Conditions Truly Met?

• An Kyu-back (former Minister of National Defense) once stated, “The two countries agreed that 94% of the transition conditions have been met.”
• Robert Abrams (former Commander of USFK) rebutted, “Let me be clear: this is factually incorrect.”
• Kang Shin-chul (Minister of National Defense) also remarked, “Even if the transition occurs today or tomorrow, there would be absolutely no issue.”
• Lee Sang-eun (Washington correspondent for the Korea Economic Daily) pointed out, “It is perplexing that the OPCON transfer issue—which should be discussed based on rigorous military judgment—is being consumed by politicians’ incomprehensible claims.”
• Related Link.

Winning the Game by Mastering the Dark Arts.

• Oh Se-hoon’s (Mayor of Seoul) acquittal is not a simple case. If attempts to manipulate public opinion through rigged polls go unpunished, there will be no way to prevent election hacking.
• Kim Hee-won (Director of News Standards at The Korea Daily) pointed out, “Korean political parties have already become election-expert parties, where specialists in election engineering, polling, and strategic consulting run and manage campaigns.”
• “Public elections have become a murky arena where it’s unclear whether those involved are professionals or technicians, as they resort to any means necessary to win. Political parties will never extricate themselves from this game where mastering the dark arts is the only way to prevail.”
• Related Link.

Is It Possible? Is It Desirable?

• While the head of the National Counterintelligence Agency may legally attend Cabinet meetings, many citizens may not view this as desirable. The former is a matter of legal authority; the latter concerns institutional design and the legitimacy of power.
• The president faces the political task of reconciling differing values and interests. Lee Jin-woo (POSTECH professor) noted, “If the president frames these conflicts as a battle between right and wrong, normal and abnormal, reform and anti-reform, policy disagreements easily become moral failings.” He added, “Opponents then become obstacles to overcome rather than citizens to persuade.”
• Social media rewards rapid reactions, sharp polarization, and strong emotions. Short assertions spread faster than nuanced explanations, and outrage and mockery outpace careful judgment. Lee Jin-woo warned, “If the president leads political debates in these spaces, the time for institutional deliberation risks being overwhelmed by the speed of public reaction.”
• The maturity of democracy, he advised, depends on how much we respect differing opinions, how willingly we subject our judgments to scrutiny, and whether we can sometimes pause and let institutions work.
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