Were Multicultural Families Given Special Treatment?

• Hongseong’s public postpartum care center reported 40 multicultural family users out of 779 since its 2022 opening—other centers range 1–5%.
• An Indonesian mother met by The Hankyoreh said, “My parents live far away, and there’s no one to help.”
• Won Ok-geum (Reunited Representative) noted, “A mother-in-law may be in a distant country requiring a flight, and if the husband leaves for work, the burden falls entirely on the mother,” adding, “Equal income does not mean equal access to care.”
• Related Link.

Lee Jae-myung and Oh Se-hoon.

• Lee Jae-myung (President) emphasized, “It should not deviate from its original purpose to the point of becoming preferential treatment or reverse discrimination against domestic families.”
• Oh Se-hoon (Seoul Mayor) stated, “A certain level of consideration is necessary for multicultural families in principle,” adding, “We will thoroughly review the support system to ensure no concerns arise that other citizens may face relative disadvantages.”
• Related Link.

What Matters Now.

The President’s Signal.

• The president’s remarks act as a signal.
• Hong Sung-soo (Professor, Sookmyung Women’s University) noted, “The president’s signal is not leading to a healthy public discourse but degenerating into a chaotic free-for-all of prejudice and hate.”
• Song Eun-jeong (Executive Committee Member, Migrant Workers’ Solidarity for Equality) stated, “Regardless of the president’s intent, online spaces have erupted—anti-immigrant sentiment is surging as if a floodgate has opened.”
• Ko Ki-bok (Director, Migrant Human Rights and Culture Center for All) warned, “Reducing complex structural issues to a simplistic ‘reverse discrimination’ frame risks inflaming divisions among citizens.”
• Related Link.

“V’s Position Slightly Concerning.”.

• Park Hae-cheol (Democratic Party Representative) sent a Telegram message to an aide that was caught on camera by media.
• The Hankyoreh emphasized in an editorial, “The president, who should be at the forefront of social integration and protecting minorities, must heed concerns that their remarks could be exploited as kindling for exclusion and hate.”
• Related Link.
• Related Link.

Climbing the Social Ladder Grows Steeper.

• Income mobility has fallen to a historic low—33.0% as of 2024.
• Upward mobility is 16.9%, downward mobility 16.1%.
• Youth income mobility stands at 39.3%. The retention rate for top 20% (5th quintile) youth is 84.8%.
• Choi Ba-ul (Director, Policy Statistics Research Division, National Data Service) said, “Youth who secure stable high-income jobs tend to remain in higher income brackets, while those who fail to do so remain stuck in lower brackets.”
• Related Link.

Supplying 77,000 Households.

• Greenbelts in Gyeonggi Province—including Gimpo, Guri, Hanam, and Uijeongbu—will be lifted.
• The timeline from planning to construction will be reduced from 68 months to 37 months, aiming for a 2030 groundbreaking and initial occupancy by 2033.
• Combined with the August announcement, the total reaches 104,000 households.
• Lee Ki-hyung (Mayor of Gimpo) protested, “One-sided supply without thorough transportation and self-sufficiency measures will reduce Gimpo to a consumption-driven bedroom town.”
• This year’s construction target was 268,000 households, but actual groundbreakings fell short at 99,000.
• Seoul apartment sale prices have risen for 90 consecutive weeks.
• Ham Young-jin (Head of Woori Bank Real Estate Research Lab) said, “To address current rental instability, urban renewal projects, public rentals, and non-apartment housing must be pursued simultaneously.”
• Ko Joon-seok (Yonsei University Professor) noted, “Phase 3 new towns took eight years until initial occupancy,” adding, “They won’t significantly impact current housing prices or jeonse-plus-rent instability.”
• Related Link.
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Deep Dive.

US Benchmark Rate Holds Steady.

• 3.75–4.00% annually.
• Kevin Wash (Fed Chair) noted, “Inflation remains too high.”
• US September consumer price growth was 3.7% year-on-year.
• Related Link.

Google’s Earnings Shock.

• Third-quarter revenue was $127.6 billion, falling short of market expectations.
• Yesterday, all three major US indices dropped. The S&P 500, Dow, and Nasdaq fell -0.30%, -0.25%, and -1.38% respectively.
• $500 billion in market value evaporated. AI investments are draining cash while its core advertising business crumbles.
• Search business revenue was $63.4 billion, up 12% year-on-year from the same period last year. It missed the market forecast of $64.9 billion, and growth rates have slowed.
• Third-quarter capital expenditure was $51.3 billion, with cash flow at -$9.1 billion.
• Intel’s third-quarter results, released after the market closed, also fell short of expectations.
• Related Link.

“The State Was Absent That Day.”.

• Lee Jae-myung (President) spoke these words at the Itaewon disaster memorial service.
• “It must never happen again that the dignity of the victims is tarnished, or that the state repeatedly inflicts pain on grieving families who carry unbearable longing,” he emphasized.
• He announced the enactment of a Basic Life Safety Act.
• Related Link.

Ballistic Response to a Summit Proposal.

• North Korea fired over ten ballistic missiles. With a range of approximately 400km, they cover the entire Korean Peninsula.
• It has been six days since South Korea proposed military talks.
• The National Security Office warned, “This violates UN Security Council resolutions.”
• Kang Shin-chul (Minister of National Defense) stated, “There is not even a communication channel established between the two Koreas to ask and verify matters.”
• China unusually issued a comment. Geng Shuang (Chinese Foreign Ministry spokesperson) said, “We hope to uphold the overarching direction of a political resolution while striving to safeguard regional peace and stability.”
• Related Link.
• Related Link.

Jang Dong-hyeok: “It Begins Again.”.

• 2.47 million ballot papers tied up at Olympic Park Handball Gymnasium were publicly verified and removed. An additional 700 will be verified, but this will not affect the election results.
• No cabbage-leaf ballots or Rising Sun flags were found.
• Jang Dong-hyeok (People Power Party Leader) claimed, “There is no investigation that entrusts evidence to the suspect’s hands.”
• Even within the People Power Party, the dominant sentiment is that this is sufficient.
• A People Power Party lawmaker met by The Hankyoreh criticized, “Jang Dong-hyeok is showing a single-celled mentality, riding on hardline supporters.” Speculation also arises that “he will continue without an exit strategy.”
• Criticism also surfaces that “he is inciting conspiracy theories to preserve his position.”
• Jeon Han-gil (YouTuber) stated, “There is no longer justification to defend this place.”
• In an editorial, JoongAng Ilbo emphasized, “Conspiracy theories must be retracted, and the election fraud controversy must be conclusively ended.”
• Related Link.
• Related Link.
• Related Link.
• Related Link.

Another Take.

Did Suicide Rates Actually Decline Under Lee Jae-myung’s Government?

• Lee Jae-myung (President) called it “our government’s greatest achievement,” but it’s not quite there yet.
• Comparisons are difficult because 2024 was higher than average—still more than in 2022. To claim suicide rates fell under Lee Jae-myong’s government, a precise causal explanation is needed.
• It is true that the decline has continued.

Lee Jae-myung’s X Posts: 156 in October Alone.

• No day off for 29 days. An average of 5.4 posts per day—the highest since taking office. On the 28th, he posted 15 in a single day.
• Quotations increased, as did explanatory or rebuttal-style posts.
• Park Sung-min (CEO of Political Consulting Min) noted, “The president’s approach to resolving issues is crucial, but he appears less like a final decision-maker and more like someone perpetually angry and irritated at the forefront.”
• Woo Sang-ho (Governor of Gangwon Province) suggested, “It would be advisable to consult with advisors on politically sensitive matters.”
• Lee Jae-myung (President) posted on X, “Direct communication with the public is one of the essential duties a public servant must never abandon.”
• He uses Daum more than Naver. Of 284 external links, 161 were to Daum and 83 to Naver.
• Related Link.
• Related Link.

U.S. Economy Grows 3.4%.

• Diane Swonk (KPMG Economist) said, “The economic indicators are cause for celebration, but they look better on paper than most Americans feel.”
• September’s consumer price increase was 3.7%. Real wages have fallen for six consecutive months.

Memory Firms Strike Back.

• Apple’s power dynamic with memory suppliers has flipped.
• Two years ago, Apple’s flash memory purchases were nearly double the combined volume of Microsoft, Amazon, Meta, and Google. Now, the hyperscalers’ buying scale has reversed to twice Apple’s.
• Flash memory prices have quintupled in a year. To secure a similar volume Apple bought for $6 billion last year, it paid $25 billion this year.
• Apple has historically profited by selling devices with expanded storage. When the iPhone 17 Pro’s storage increased from 256GB to 512GB last year, consumers paid an extra $200—while the incremental memory cost was $15.
• Walt Koen (TechInsights Analyst) analyzed, “Apple has historically negotiated very aggressively with memory suppliers, but the balance of power has shifted.”
• iPhone prices have risen 13% on average. Will consumers accept the higher cost? Or extend their upgrade cycles?
• Related Link.

The Fix.

Mandatory External Accumulation of Severance Pay for All Workplaces.

• “No more fears of withheld severance pay.”
• First, workplaces with 100+ employees start in 2028. Even those with fewer than 10 employees must accumulate severance benefits externally from 2030.
• For workplaces with fewer than 30 employees adopting external accumulation early, 10% of employer contributions for workers earning below 130% of minimum wage will be subsidized.
• Last year’s pension fund return rate was 6.5%. The National Pension Service’s was 18.8%.
• Last year, 83.5% of severance pay recipient accounts were lump-sum payments.
• Total accumulated funds: 553 trillion won.
• Related Link.
• Related Link.

Children Without a Language.

• Thirteen-year-old Malaka cannot read Hangeul. Born in Russia, she came to Korea with her mother at age three and has never owned a single picture book. In elementary school, she slept through every class.
• She is functionally monolingual—neither fluent in Russian nor Korean. Russian books are either unavailable or prohibitively expensive.
• A librarian at a public library interviewed by The Hankyoreh remarked, “The only multicultural books subsidized by the government are those promoting social integration,” adding, “There’s no interest in the joy and meaning children should experience at their age—they’re treated solely as ‘cases to manage.’”
• Related Link.

Traffic Islands? 90% of Cars Don’t Stop.

• Donga Ilbo reporters confirmed that out of 559 vehicles, only 54 stopped in front of the crosswalk.
• Right-turn accidents totaled 3,058 cases last year, with 42 fatalities.
• Stopping for pedestrians when turning right is not an act of courtesy but a legal obligation under the Road Traffic Act. Critics argue that traffic islands without traffic lights actually encourage pedestrian accidents. Studies have also shown that vehicles tend to drive faster on right-turn lanes with traffic islands.
• Kim Pil-soo (Daelim University Professor) said, “Traffic islands also help vulnerable road users, such as the elderly, who struggle to cross wide intersections in one go.” He added, “Instead of making right-turn sections round, they should be designed with angles that force vehicles to slow down.”
• Lee Soo-beom (University of Seoul Professor) stated, “Traffic islands should originally be installed only where pedestrian traffic is low.” He suggested, “Examples of intersections paved with uneven stones to prevent speeding could be referenced.”
• The message is clear: if behavior doesn’t change, the system must.
• Related Link.
• Related Link.

NH’s Seasonal Labor Hiring Program.

• In Chilgok County, Gyeongbuk Province, the National Agricultural Cooperative Federation (NACF) hires and supplies foreign workers.
• Waegwan Nonghyup conducted interviews in Laos and recruited 30 workers.
• After 10 of 27 Filipino workers who entered in 2023 left without authorization, Chilgok County signed an agreement with Laos. 173 Laotian workers have since arrived, with no unauthorized departures reported yet.
• Related Link.

ICYMI.

Samsung Electronics Posts KRW 10.7 Trillion Operating Profit in Q3.

• Revenue reached KRW 195 trillion.
• It announced a KRW 30 trillion cash dividend, yet its stock price plummeted 4.1%.
• Kim Jae-jun (Samsung Electronics Vice President) stated, “We have finalized multi-year supply agreements with 10 major clients and are in negotiations with another 10 key customers.”
• Noh Geun-chang (CEO of SemiconResearchLab) remarked, “While increased shareholder returns would be ideal, it’s important to recognize that returns are being made within the promised KRW 110 trillion framework,” adding, “Current market expectations appear excessive.”
• Related Link.
• Related Link.

Choi Bul-am.

• He passed away at the age of 87.
• Born Choi Young-han, he was an actor known as the “nation’s father.”
• In ‘Investigation Team,’ he played a 50-year-old in his 30s; in ‘Country Diaries,’ a 60-year-old in his 40s.
• At Chung Ju-yung’s (Chairman of Hyundai Group) urging, he served as a proportional representative for the United People’s Party. He ran for Seoul’s Yeongdeungpo-gu constituency but lost.
• Kim Min-seok (Prime Minister), who won with the slogan “Choi Bul-am to the stage, Kim Min-seok to the National Assembly,” was then 31 years old.
• Related Link.

Lotte Department Store Centum City Branch to Shinsegae.

• A transaction worth over 200 billion won.
• Shinsegae Centum City Branch has exceeded 2 trillion won in sales for three consecutive years.
• The adjacent Lotte Department Store Centum City Branch once recorded sales of over 300 billion won, but last year they dropped to 130 billion won.
• Shinsegae plans to connect the two department stores to create a Shinsegae Town and develop it into Korea’s version of Roppongi Hills.
• Related Link.

Sweet but Bland: The Shine Muscat.

• Two kilograms of Shine Muscat cost 11,791 won—20.3% lower than a year ago, 71% lower than five years ago.
• Its share of total grape cultivation area rose to 43.1% in 2024 but fell to 38.1% this year.
• Lee Yong-jae (food critic) attributes the decline not only to oversupply but to a change in taste: “The grapes are larger, but their color has faded and become opaque. Most importantly, the muscat’s signature aroma has weakened.”
• Lee added, “It’s time to reconsider cultivation and distribution practices that prioritize size and sugar content over the fruit’s inherent flavor and fragrance.”
• Related Link.

Yonsei University Exam Leak Controversy.

• Compilations of past exam questions are called “jokbo.” Traditionally passed down from seniors to juniors, they are now sold for money.
• A Yonsei student reported 1,322 posts trading jokbo, prompting some professors to re-administer midterms.
• Students are fiercely resisting. “Students without connections have no choice but to buy jokbo,” one argued. Another criticized, “It’s wrong to blindly ban jokbo trading without addressing the root issue—professors reusing exam questions.”
• Related Link.

Worth Reading.

Reverse Discrimination.

• “It must not become reverse discrimination.”
• The controversy over Lee Jae-myung (President)’s post prompted an explanation from the Blue House.
• “The main point is that if any aspect approaches reverse discrimination for our citizens, it should be reviewed.”
• Kim Ji-hwan (Kyunghyang Shinmun columnist) pointed out, “The logic of ‘reverse discrimination’ creates a confrontation between perpetrator and victim, potentially leading to the paradoxical situation where minorities become perpetrators instead.”
• “If multicultural families become ‘perpetrators receiving excessive privileges,’ the structural discrimination they face as a social minority will be obscured,” the argument goes.
• Related Link.

Not Everyone Can Work Like the President.

• Jeong Jeong-yoon (Hankyoreh columnist) pointed out, “A leader’s personal convictions and superhuman energy cannot be the standard for labor policy.”
• Politicians and executives gain power, prestige, and wealth in exchange for overwork, but workers receive no such rewards. “The majority of workers—silently sweating in labs, factories, and offices—cannot and have no reason to grind through their daily lives like presidents, CEOs, or aides,” the argument goes.
• Related Link.

An Era of Reading AI-Written Texts Summarized by AI.

• “Stretching a three-line story to thirty lines only increases the time needed to identify and understand the core.”
• Jeong Ji-woo (cultural critic) noted, “This is essentially reducing human communication to AI exchanging text with AI.”
• It is a warning: “We must consider whether, by overly relying on AI, we are losing even the will, language, and stories we once sought to express ourselves.”
• Related Link.

Disconnect Between Ownership and Control.

• Issuing new shares dilutes the controlling shareholder’s stake.
• Yet by spinning off a subsidiary and listing it separately, the parent company’s ownership can be preserved.
• Choi Dong-beom (Professor, Seoul National University Business School) explained, “It’s like having my son—who listens to me—raise funds by taking the business public, while I avoid further dilution.”
• SK Hynix’s attempted Nasdaq listing of its subsidiary Solidigm followed the same logic.
• Choi Dong-beom warned, “Even if a company performs well, it struggles to gain fair market valuation if investors doubt that profits will be returned to shareholders.”
• Related Link.

Climate-Energy and Environment Ministries Must Be Separated.

• First, the government is failing to meet greenhouse gas reduction targets. Its reduction plans are also vague.
• Second, environmental conservation is not being properly addressed. While acknowledging failure to address algal blooms, the government is delaying the removal of the Four Major Rivers’ weirs.
• Third, the ministry is regressing under pressure from three mega-projects.
• Kim Hyun-woo (Director of the ‘Degrowth and Alternatives Research Institute’) pointed out, “The powerful Ministry of Trade, Industry and Energy maintains influence over climate-energy projects while suppressing environmental conservation, blatantly exposing the government’s ‘greenwashing.’”
• If the button is misaligned, it must be fixed now. The proposed climate-energy ministry should focus on K-GX—synergizing with the industry ministry to phase out fossil fuels and accelerate energy transition—while the environment ministry regains its role of confronting other ministries and corporations.
• Related Link.

The Blue House’s Elephant.

• Michael Breen (author, former president of the Seoul Foreign Correspondents’ Club) sees three key points in Lee Jae-myung (president)’s X.
• First, the approval rating isn’t dropping because of X—it’s dropping because he’s clinging to X to boost it.
• Second, Lee Jae-myung’s approval rating isn’t low in the context of Korean politics. What matters is the trend.
• Third, while it may seem like he’s setting the agenda, being overly conscious of approval ratings could distract him from his real duties.
• A president must make unpopular decisions in the short term. Michael Breen warned, “This leads to a situation where the metrics used to evaluate job performance end up replacing the original purpose of the job itself.”
• An ‘elephant in the room’ refers to an uncomfortable issue everyone knows about but avoids discussing. By the second year of a term, the elephant appears. Aides pretend not to see it, but by the end of the term, it becomes uncontrollable.
• Michael Breen advised, “The best strategy is to ignore approval ratings, turn a blind eye to the elephant, and focus entirely on what is most beneficial to the public—not what they want.”
• Related Link.

A Left-of-Center Party Is Needed for the Democratic Party.

• There are two lessons to learn from France.
• First, the idea that a handful of corporations and innovators dictate a nation’s prosperity has failed.
• Second, the rational centrist approach—expanding the moderate base to compete with far-right parties—has only strengthened the far right’s position.
• Son Je-min (Political and International Editor, Kyunghyang Shinmun) emphasized, “A party to the left of the Democratic Party that channels the voices of young people is necessary.”
• It is a warning: “Otherwise, we might truly end up like France in ten years.”
• Related Link.