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Tweet of the Day: Accident Rate Down in South Korea

Picture of the Day: South Korea to Build ASEAN Garden

Korea-ASEAN garden
Korea-ASEAN garden
This photo, provided by the South Gyeongsang provincial government, shows a rendering of the Korea-ASEAN national garden, which will be built at a yet-to-be-decided location in the South Korean province by 2030. On May 18, 2022, the Korea Forest Service tapped Korea Engineering Consultants Corp. to map out a blueprint for the project. ASEAN stands for the Association of Southeast Asian Nations. (Yonhap)

USFK Commander Advocates for Opening Road to THAAD Site

It appears General LaCamera sees a chance with the change in government to hopefully open access to the THAAD site near Seongju:

This photo, provided on Nov. 5, 2021, by the South Korea-U.S. Combined Forces Command (CFC), shows Commander Gen. Paul LaCamera speaking during a ceremony to mark the CFC’s 43rd anniversary at the U.S. Army’s Yongsan Garrison in Seoul on Nov. 5, 2021, in this photo provided by the command.

 U.S. Forces Korea (USFK) Commander Gen. Paul LaCamera has called for “unfettered” access to its THAAD missile defense unit here, stressing its absence would undermine the alliance’s ability to defend South Korea.

In a written statement to the House Appropriations Subcommittee on Defense this week, LaCamera made the call, as access to the unit in the southern county of Seongju remains impeded by a set of obstacles, including protesters against the installation of the battery.

Since the unit was placed in Seongju in 2017, it has had the status of a “temporary installation” pending South Korea’s environmental impact assessment — another hindrance to its full-capacity operation. 

“Despite significant progress in increasing access to the site over the last year, unfettered access is required to fully ensure logistical support at the site and improve the quality of life for service members stationed there,” LaCamera said.

“Limited access also slows the pace of construction projects on-site, which is critical for maintaining the system’s capabilities, crew training and upgrades. All of this hinders the alliance’s ability to operate this defensive system and defend the ROK people,” he added. ROK stands for the South’s official name, Republic of Korea.

Yonhap

You can read more at the link.

USFK Activates New Air Cavalry Squadron at Camp Humphreys

USFK has brought some more fire power to the peninsula:

This photo, released by the 2nd Combat Aviation Brigade, shows the U.S. Forces Korea holding a ceremony activating the 5th Squadron, 17th Cavalry Regiment at Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul, on May 17, 2022.

The U.S. Forces Korea (USFK) has held a ceremony launching a permanently stationed air cavalry squadron consisting of new Apache attack helicopters in a key U.S. base south of Seoul, its officials said Wednesday.

The 5th Squadron, 17th Cavalry Regiment, 2nd Combat Aviation Brigade was activated in the event at Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul, on Tuesday. It takes over from previous rotational aviation units.

The new unit is known to have dozens of the latest AH-64E Version 6 helicopters. In January, the U.S. Army said 24 of the latest Apache helicopters would be deployed here by February in the first overseas delivery of the new version of the aircraft.

Yonhap

You can read more at the link.

Think Tank Says North Korea Ready to Conduct Nuclear Test By the End of the Month

I guess we will see if the North Koreans conduct a nuclear test during President Biden’s trip to South Korea. I doubt they will because that would be extremely provocative, however I would not be surprised if they did one shortly after such as during the Memorial Day weekend. However, I would not be surprised if they did a missile test during President Biden’s visit:

Satellite imagery of the Punggye-ri test site in North Hamgyong Province in North Korea shows excavation work in preparation for a possible nuclear test. [BEYOND PARALLEL]
Satellite imagery of the Punggye-ri test site in North Hamgyong Province in North Korea shows excavation work in preparation for a possible nuclear test. [BEYOND PARALLEL]

Excavation work at North Korea’s Punggye-ri nuclear testing site suggests the regime is gearing up for a seventh nuclear test, according to a U.S.-based think tank.    
   
Beyond Parallel, a North Korea analysis portal operated by the Washington-based Center for Strategic and International Studies (CSIS), said that Pyongyang is making preparations at the Punggye-ri nuclear test site in Kilju County, North Hamgyong Province based on satellite images captured on Tuesday.  
   
Photos of Punggye-ri – the only known nuclear testing facility in North Korea – shows “continued activity outside the new portal” for a tunnel leading into an underground test site. Support equipment around the tunnel’s entrance indicates ongoing work inside the tunnel.  
   
Further evidence cited by Beyond Parallel for the possibility of an upcoming test included changes in lumber piles, the renovation of existing buildings, and construction of new buildings in the main administration and support areas in and around the test site, suggesting a continued expansion of the support infrastructure. 

Joong Ang Ilbo

You can read more at the link.

Tweet of the Day: North Korean ICBM Launch this Weekend?

https://twitter.com/chadocl/status/1526809594500358144

Picture of the Day: North Korean Army Responds to COVID Outbreak

N. Korean army's supply of medicine amid COVID-19 outbreak
N. Korean army’s supply of medicine amid COVID-19 outbreak
North Korean soldiers from the military field of the People’s Army gather at the Ministry of National Defense in Pyongyang on May 16, 2022, to pledge to carry out their mission to supply medicine to pharmacies amid the North’s anti-epidemic campaign, in this photo released May 17 by the North’s official Korean Central News Agency. The Central Committee of the Workers’ Party of Korea has ordered the military medical field to supply medicine to pharmacies under the 24-hour service system, as the North has seen a surge in suspected coronavirus cases. (Yonhap)

ROK Army Soldier Injured By Blast Along the DMZ

I would not be surprised if this is an old landmine that may have been washed out of the ground by rain:

In this file photo provided by the Army’s I Corps, taken May 8, 2020, a service member puts up a warning sign at a civilian access control line. 

A South Korean soldier in a frontline Army unit was wounded due to an unidentified explosion during a border defense mission earlier this week, officials said Wednesday.

The blast occurred Tuesday when the soldier was conducting a land clearing operation to ensure visibility near a general outpost of the Army’s First Corps that lies just south of the Demilitarized Zone separating the two Koreas.

He is currently receiving treatment for an injury to his toes, the officials said.

The military authorities are trying to ascertain the exact cause of the explosion, including the possibility of a stray landmine blast.

Yonhap

You can read more at the link.

President Yoon and Conservative Lawmakers Make Visit to Commemorate Gwangju Uprising

This is actually smart move by President Yoon to try and de-politicize the Gwangju Uprising issue from the liberals:

President Yoon Suk-yeol (3rd from L) participates in singing the song “March for the Beloved” symbolizing a 1980 pro-democracy uprising during a memorial ceremony at a national cemetery in the southwestern city of Gwangju on May 18, 2022, to mark the 42nd anniversary of the democracy movement that took place in the city. (Yonhap)

President Yoon Suk-yeol and some 100 lawmakers from the ruling People Power Party (PPP) traveled to the southwestern city of Gwangju on Wednesday and paid their respects to the victims of the 1980 pro-democracy uprising in an unprecedented outreach to the home turf of the main opposition party.

The civil revolt, in which Gwangju citizens rose up against the then military junta led by late former President Chun Doo-hwan, has long been associated with the liberal opposition Democratic Party (DP), and the conservative party has kept a distance from it amid perceptions its roots have ties to Chun.

Yonhap

You can read more at the link.

South Korean Investors Feeling the Losses from Luna’s Collapse

I feel bad for the investors that lost their money, but investing in bitcoin has always had a casino like atmosphere to it. You should not invest money that you cannot afford to lose:

An electronic display at Bithumb customer center in southern Seoul shows the plummeted value of Luna on Tuesday. [YONHAP]
An electronic display at Bithumb customer center in southern Seoul shows the plummeted value of Luna on Tuesday. [YONHAP]

The collapse of Luna is starting to ripple through Korea as investors in the coin and companies associated with it add up their losses and adjust their plans.  

Victims range from retail punters to some of the largest business names in the country, and the damages go from trivial to existential, though the sense is that, so far, the Luna fiasco will not be a Lehman moment and threaten crypto markets or the broader markets in a systemic way.    

“I lost my entire lifesavings in just two days,” one person wrote anonymously on Bitman, a Korean blockchain community, on May 14. “I repeatedly sold Luna at a loss, bought more to lower the average price and sold it at a loss again. After losing more than 100 million won [$78,000] that I struggled to save for years, I can neither eat nor sleep. I loathe myself.”  

Terra coins were algorithmically pegged to other currencies though arbitraged with Luna coins. When faith in the design evaporated in early May, Luna lost most of its value in a matter of days and TerraUSD, which is the Terra that tracks the dollar, dropped to about 10 cents. 

One man, who claims to have lost 2 billion won ($1.6 million) by investing in Luna, was under investigation after showing up at the house of Kwon Do-hyeong, one of the masterminds behind the Terra stablecoin scheme.    
   
“Kwon should officially apologize and announce some sort of plan using any means available, including using his own money,” the man told the local press. “There are some people around me who have actually lost their lives.” 

Joong Ang Ilbo

You can read more about the cryptocurrency losses impacting South Korea at the link.