Author: GIKorea

Good luck trying to get people to believe this, though the inflation crisis I think is starting to make realize that giving out free money maybe is not a good thing:

 President Yoon Suk-yeol sounded the alarm on the country’s fiscal health on Thursday, saying people should wake up from the “fantasy” that increasing government spending will automatically improve people’s livelihoods.

Yoon made the remark while presiding over a fiscal strategy meeting with members of the government and the private sector at Chungbuk National University in Cheongju, 112 kilometers southeast of Seoul.

“We must wake up from the fantasy of fiscal universalism,” Yoon said, describing it as the belief that if the government spends more of its budget, “automatically, the economy will grow and people’s livelihoods will improve.”

“In order to overcome the people’s livelihood issues and fiscal crisis that we face, the government has to be the first to tighten its belt,” he added.

The finance ministry unveiled plans to reduce the fiscal deficit to a size equivalent to less than 3 percent of the gross domestic product (GDP), from the 5.1 percent estimate for this year, and to cut the debt-to-GDP ratio to around “the midpoint” of the 50 percent range by 2027 to help slow the pace of the national debt.

Yonhap

You can read more at the link.

It appears a North Korean boy’s body has been found floating in the Han River estuary:

The corpse of a very thin boy washed up in South Korean waters near the sea border with North Korea and police are looking for clues as to whether it came from the North.    
   
A 110-centimeter-tall boy was found dead near Jeollyu port in the Han River Estuary on Wednesday. Police wonder whether he was washed over the border.  
   
According to the Ilsan Western Police, the body of the child was discovered by a fisherman around 12 p.m.   

The corpse didn’t seem to have injuries but was extremely thin.    
   
“The boy seems to be around the age of 10 and was only wearing a pair of worn-out, red shorts — no shirt,” a police officer said.    
   
The shorts had no brand and had a rubber band around the waistline, which would be unusual on a South Korean child.    
   
To identify the corpse, the police asked the National Institute of Forensic Sciences to determine the manufacturer of the shorts.   

Joong Ang Ilbo

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I think the Yoon administration needs to be careful with this because what is to stop the Korean left once they are back in power at some point and prosecuting conservative officials for payback. We have already seen them do this at the Presidential level:

South Korea’s state spy agency said Wednesday it has requested formal investigations by prosecutors into allegations that two of its former chiefs mishandled controversial incidents involving North Korea a few years earlier.

The National Intelligence Service (NIS) filed a complaint with the Supreme Prosecutors Office against Park Jie-won for “deleting intelligence-related reports without authorization” in regard to North Korea’s killing of a South Korean fisheries official in 2020.

Park, formerly a longtime lawmaker, is accused of abusing his authority and unlawfully destroying public electronic records during his stint as director of the NIS under the previous liberal Moon Jae-in administration.

In September 2020, Lee Dae-jun, then 47 years old, was fatally shot by the North’s coast guard near the Yellow Sea border between the two Koreas, a day after going missing while on duty on board a fishery inspection boat.

A storm of controversy has stirred up here since the South’s Coast Guard and the defense ministry recently announced that they have not found any concrete evidence backing the probe results from two years ago that the official might have attempted to defect to North Korea.

Yonhap

You can read more at the link.

I think what President Yoon is preparing the ROK military for, is to strongly respond to a Cheonan sinking or Yeonpyeong Island shelling like provocation. Let’s hope it doesn’t come to this, but North Korea seems due to provoke something in the Yellow Sea which has been quiet for quite a while:

President Yoon Suk-yeol ordered the military on Wednesday to swiftly punish North Korea in case of provocations as he presided over a meeting of top commanders for the first time since taking office.

“(The president) ordered our military to swiftly and firmly punish North Korea in the event that it carries out a provocation,” his office said after Yoon’s meeting with the commanders from the Army, Navy, Air Force and Marine Corps at the Gyeryongdae military headquarters, 160 kilometers south of Seoul.

“He stressed that it is the military’s mission to defend the people’s lives, property, territory and sovereignty at all costs, and that we must firmly show our resolve to do so,” the office said in a statement.

North Korea has carried out a series of short- to long-range missile tests since Yoon’s inauguration in May and showed signs of preparing for what would be its seventh nuclear test.

Yonhap

You can read more at the link.

Yes Trump’s personal diplomacy may not have led to any long term solutions for the North Korea problem, but neither has any of his predecessors plans lead to anything either:

Donald Trump’s unconventional summits with North Korean leader Kim Jong Un in 2018 and 2019 produced nothing, former Defense Secretary Jim Mattis said at a forum here Friday.

The United States under Trump’s presidency was “not traditional for what America’s role has been in the world,” the retired Marine general and former head of Central Command said at a gathering hosted by the Seoul Forum for International Affairs, the Center for Strategic and International Studies and the Korea Society in Seoul.

The two nations were threatening war in 2017, but Kim and Trump emerged friends from their 2018 summit in Singapore, trading “love letters” afterwards. The two met again the following year in Hanoi, Vietnam, and at the Demilitarized Zone that separates North and South Korea.

Trump hailed the meetings as momentous developments, but foreign policy experts widely criticized them for failing to produce any agreements between the two countries.

“As far as what came out of it, I would say nothing,” Mattis said of the summits. “I saw nothing that came out of it.”

In 2020, North Korea resumed missile tests and its bellicose statements aimed at the U.S. and South Korea. North Korea has so far this year launched 17 rounds of missile tests, a one-year record.

“President Trump was an unusual leader” who believed in “personal diplomacy,” Mattis said.

“He was convinced that he could work something out with Kim — I was not optimistic,” he added. “My job was to make certain I did everything I could to stand by the [South Korean] Ministry of Defense and make certain the U.S. military … ties were absolutely at the top of their game to ensure that we were buying the time to safely engage in that summit.”

Stars & Stripes

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Here is another example of South Korea’s growing space program:

Korea on Tuesday started transporting the country’s first lunar orbiter to the United States ahead of next month’s launch using a SpaceX rocket, officials said.

Korea plans to launch the Korea Pathfinder Lunar Orbiter, also known as Danuri, aboard the SpaceX Falcon 9 rocket from Cape Canaveral Space Force Station in Florida at 8:24 a.m. on Aug. 3 (Korean Time).

According to the Ministry of Science and ICT, Danuri was sent from the Korea Aerospace Research Institute in Daejeon, 160 kilometers south of Seoul, to Incheon International Airport, west of Seoul, in a specially designed container.

The orbiter will be flown to Orlando International Airport and arrive at the Floridian space center Thursday. It will later undergo maintenance, assembly and other pre-launch preparations for about a month before launch.

Danuri will begin circling around the moon in December and conduct a yearlong mission to observe it using an array of instruments, including cameras and magnetometers. It will also identify potential landing sites for future lunar missions.

Korea Times

You can read more at the link.