Category: Korea-General Topics

I think the concentration of wealth that you see both in the ROK and the US has to do with crony capitalism where politicians are serving business interests more than the public at large:

The top 10 percent of South Koreans control 66 percent of the country’s wealth, with the inequality gap becoming more acute over time, a recent report showed.

According to the report by Kim Nak-nyeon, an economics professor at Seoul’s Dongguk University, Asia’s fourth-largest economy is encumbered by a sizable difference in wealth between the haves and have-nots.

While the rich monopolized wealth that includes both financial and property holdings, the lower 50 percent only accounted for 2 percent of the country’s assets.

The scholar, who based his findings on public data released by the National Tax Service from 2000 through 2013, said the size of wealth controlled by the top 10 percent started growing in the 2000-2007 period, before the global financial crisis, with the average wealth held totaling 624 million won (US$544,500).  [Korea Times]

You can read the rest at the link.

What I find most amazing about this report is that Germans on average work four months less a year than Koreans.  This just shows how unproductive the hours by Korean workers likely are when Germans are able to have a manufacturing and export based economy like Korea without the need for long hours:

Company employees and self-employed Koreans worked an average of 2,124 hours per person last year, second only to Mexico, at 2,228 hours.

Koreans work 354 more hours every year than the OECD average of 1,770. This calculates to 6.8 more hours of work each week.

In addition, the average number of hours worked by Koreans rose by 45, up from 2,079 hours in 2013.

Korea had the highest average number of working hours until 2007 when Mexico exceeded this.

The lowest average of working hours is in Germany, at 1,371 hours a year. This is equivalent to eight months of working hours in Korea.  [Korea Times]

You can read more at the link.

Noted Korea historian and a ROK Drop favorite, Robert Neff has an article published in the Korea Times that discusses Seoul’s haunted past:

According to many, in the late 19th and early 20th centuries, Seoul was haunted. Homes deserted after murders and lynchings had occurred during times of unrest were natural sites for haunting but not all ghosts were content with remaining at one site ― some roamed about the streets.

At a well near Cheonggye Stream and the Jeongdong area, women were afraid to go there by themselves ― especially at night ― for fear of being accosted by the spirit of a decapitated man who had been executed for some unknown transgression. Apparently the ghost wandered about seeking a drink to quench his everlasting thirst but was unable to do so because he had no head.

The area surrounding the Independence Arch was avoided at night because it was said to be plagued by restless spirits and tokgabi (goblins). Tokgabi were generally mischievous but could be extremely dangerous if angered. They assumed many shapes and often began as simple mundane items that had been corrupted when blood ― especially women’s ― was splattered upon them. Thus, it is no wonder they were often found near execution grounds, battle-fields and sites where murders or accidents had occurred. The tokgabi often roamed in legions and could cause whole neighborhoods or villages to become deserted. [Korea Times]

You can read the rest at the link.

Why has South Korea started classes for kids about the 'comfort women’? The minister in charge explains. https://t.co/0Zta6zXG8f

— Alastair Gale (@AlastairGale) October 29, 2015

For anyone that was wondering, it is illegal to burn a South Korean flag and can get you sentenced up to 5 years in jail:

Prosecutors said Thursday they have indicted a South Korean man on charges of burning the national flag during a rally commemorating the first anniversary of the deadly ferry disaster.

The 23-year-old, only identified by his surname Kim, is accused of burning the flag during the April 18 rally in downtown Seoul and damaging a police vehicle, the Seoul Central Prosecutors’ Office said.

“I was in a rage after witnessing the government authorities illegally taking the bereaved families to police stations instead of focusing on the investigation into the cause of the accident,” he told the prosecutors.

In South Korea, flag burning is an offense that is punishable by up to five years in prison or a fine of up to 7 million won (US$6,100).

Kim is also accused of causing 6.9 million won (US$6,000) in damage to a police vehicle along with other protesters and obstructing traffic in central Seoul.

Thousands of demonstrators staged rallies at Seoul Plaza in front of Seoul City Hall in April and May to mark the anniversary of the sinking of the Sewol ferry that claimed 304 lives.  [Yonhap]

You can read more at the link.

Stalwarts of the Seoul protest scene: conservative older folks who hate left-wingers, NK leaders and sexual freedom. pic.twitter.com/FRIc8IXeVn

— Alastair Gale (@AlastairGale) October 27, 2015

Since the liquor industry has to pay for this payment increase I can understand why they are not happy about it, but restaurants will definitely be making more money by recycling all their bottles:

The Environment Ministry’s decision to raise cash payments for used soju and beer bottles starting next year faces a slew of challenges, including protests from liquor companies, concerns about bottle supplies and worries that prices could rise as a result.

On Sept. 3, the ministry announced a new cash-for-bottles recycling plan, in which liquor makers would pay more for returned, used bottles.

The refunded deposits, as they are called, will rise from 40 won (36 cents) for a 360-mililiter (1.5-cup) soju bottle to 100 won, and from 50 won for 500-mililiter and 600-mililiter beer bottles to 130 won.

A recycling commission that liquor companies pay wholesale and retail distributors, such as restaurants and department stores, or individual brokers who collect empty bottles, will be raised from 16 won to 33 won for soju bottles and from 19 won to 33 won for beer bottles.

The ministry believes the bigger payments for empties will encourage recycling.

Currently, about 85 percent of nearly nine billion bottles used every year are returned to the makers, according to government data. The ministry expects the rate to rise to 95 percent under the new policy.  [Joong Ang Ilbo]

You can read the rest at the link.

South Korea considering new law to combat North Korea cyberattacks https://t.co/mTkF9CkAfr

— NorthKoreaRealTime (@BuckTurgidson79) October 23, 2015

Struggling to find your way in Korea? Look at our Top 10 Transportation apps of 2015! http://t.co/POrk9EYsJF #korea #travel #apps

— 10 Magazine Korea (@10_Magazine) October 16, 2015

These leftist teachers in South Korea only help justify President Park’s efforts to have the government provide school textbooks when classes which include pro-North Korean propaganda and wishing President Park was never born are taught:

The Ministry of Education on Thursday launched an investigation at a high school in Seoul over a report that one of its teachers had shown a video clip containing questionable remarks about President Park Geun-hye and her late father.

The ministry sent two auditors to the high school, located in Gangnam District in southern Seoul, to question the teacher who showed the controversial video and three students.

A civic group claimed Wednesday that the teacher had shown a controversial video clip last month during class. The Blue Union civic group said it recently received a tip from a student about what happened in the classroom on Sept. 18.   [Joong Ang Ilbo]

You can read the rest at the link.