What I find of interest from President Moon’s plan is that the government is not going to fund major infrastructure projects but instead digital projects and small neighborhood projects:

President Moon Jae-in proclaimed a “Korean New Deal” on Wednesday to create jobs in the wake of the coronavirus outbreak.  

He also announced that the government plans to give 1.5 million won ($1,200) to people who lost their jobs but aren’t covered by employment insurance, which has never been done before.

Preventing layoffs and creating jobs have become the top priority of the government with job losses hitting their highest numbers in a decade.  

During the government’s fifth economic emergency council meeting on Wednesday, Moon promised a Korean New Deal.  

“New Deal jobs should not be temporary positions but innovative growth projects that will continue through the post-Covid-19 era,” Moon said. 

“The government has to boldly push forward major projects that would create new jobs.”  

According to Finance Minster Hong Nam-ki, the Korean New Deal projects will be digital, have jobs that don’t have much face-to-face contacts and also include small neighborhood public projects.

Joong Ang Ilbo

You can read more at the link.

Here is the latest on the Kim Jong-un health watch:

 U.S. President Donald Trump said Tuesday he does not know about the health condition of North Korean leader Kim Jong-un but hopes he is doing well amid unconfirmed reports that the young leader may be seriously ill.

“These are reports that came out, and we don’t know. We don’t know,” Trump said at a White House coronavirus press briefing. “I can only say this: I wish him well. Because if he is in the kind of condition that the reports say, that the news is saying, that’s a very serious condition, as you know, but I wish him well.”

Trump said he doesn’t place “too much credence” in any report put out by CNN. Citing an unidentified U.S. official, CNN first reported that the U.S. is looking into intelligence that Kim is in “grave danger” after a surgery.

Yonhap

You can read more at the link.

Here is another example of a healthcare official trying to cover for all possibilities which ends up getting everyone worked up about something that may not happen:

Another large-scale outbreak of coronavirus could take place in winter, South Korea’s top health official has warned, asking people not to let their guard down until a vaccine and effective treatment are developed. 

Korea Centers for Disease Control and Prevention Director Jung Eun-kyeong issued the warning at a Monday briefing, citing the patterns of surge-flattened-resurgence in bygone pandemics and many facets of virus information that are still left in the dark. 

“COVID-19 shows its ups and downs when it comes to infection power” Jung said. “Cold air normally provides a favorable environment for viruses to flourish, while people spend more time indoors in winter. If these happen at the same time, in the worst-case scenario, it could lead to a second outbreak of a coronavirus pandemic.” 

Korea Times

You can read more at the link.

Asiana was already having a tough time financially before the current pandemic, it will be interesting to see if the airline is able to survive this:

Korea’s second-largest airline has indefinitely extended mass furloughs of its employees, requiring more than 8,000 workers to take unpaid leave 15 days each month as the carrier struggles to stay financially afloat.

Asiana Airlines announced Sunday that it would require all staff to take at least 15 days of unpaid leave during the month of May, and every subsequent month “until business normalizes.” Last month, it announced the same policy for April.

In an industry with massive fixed costs such as leased planes and airport fees, airlines have been struggling to keep their employees on the payroll as the coronavirus pandemic wreaks havoc on international travel. The number of travelers using international flights in and out of Korea during the first week of April has plummeted by 97 percent on-year.

Joong Ang Ilbo

You can read more at the link, but Asiana Airlines said the pandemic has caused 70% of their workforce to have nothing to do.

Here is the latest on the US-ROK cost sharing issue straight from the U.S. President himself:

U.S. President Donald Trump said Monday that he “rejected” Seoul’s defense cost-sharing offer and pressed Korea “to pay for a big percentage of what we’re doing.”  

“Now, they’ve offered us a certain amount of money, and I’ve rejected it,” Trump said at a White House coronavirus task force press briefing Monday, as Seoul and Washington struggle to sign a new bilateral Special Measures Agreement (SMA) on the upkeep of some 28,500 U.S. troops stationed in Korea. 

After months of negotiations, Korean officials at the end of last month indicated that the two sides were on the brink of signing a new deal after negotiators neared a tentative agreement which had Seoul paying a higher contribution than their previous accord but not anywhere near the amount demanded by Washington.  

U.S. officials told Reuters earlier this month that Trump decided to turn down Seoul’s offer to raise its contribution by at least 13 percent compared to the previous agreement.

“Look, you know, we’re doing a tremendous service,” said Trump in the briefing. “We have a wonderful feeling and a wonderful relationship with each other, but we have to be treated equitably and fairly.”

However, Trump appeared to deny a report that he was personally negotiating with President Moon Jae-in terms for a reduction of U.S. troops in Korea with four possible scenarios.  

“It’s not a question of reduction,” Trump said. “It’s a question of: Will they contribute toward the defense of their own nation?”

Joong Ang Ilbo

You can read more at the link, but I think what is going on is that President Trump wants a larger cash payment from the ROK while in the past the ROK has used a lot of goods and services to offset cash payments.

For example they pay the salaries of the Korean employees that work for USFK. That is money that is going back into the Korean economy. They also pay for new buildings and renovations which once again is done by Korean workers putting that money back into the economy. The ROK will also purchase civilian vehicles and give them to USFK for official use as well. The vehicles purchased is also money going back into the Korean economy.

I don’t know, but I would not be surprised that President Trump being a business man is pushing for more cash payments to USFK instead of goods and services. With the ROK parliamentary elections over I think the real negotiating can actually begin.

The speculation without facts about Kim Jong-un’s health has intensified:

Speculation is rising on the physical condition of North Korean leader Kim Jong-un, following reports of a suspected cardiovascular surgical procedure. 

While South Korean online media dealing with North Korea issues reported he was recovering from the recent operation, CNN reported he was “in grave danger.”

Citing a local source in the North, the South Korean media outlet the Daily NK reported Monday that Kim underwent the surgery at Hyangsan Medical Center near Mount Myohyang in North Pyongan Province, an exclusive hospital for the Kim family, April 12, and has been receiving treatment at his vacation home nearby.

According to the Daily NK, the procedure was performed by a surgeon from Kim Man Yu Hospital, the North’s most up-to-date medical facility in Pyongyang, attended by other renowned doctors in the country who were mobilized to Hyangsan. Most of them were sent back to Pyongyang, Sunday, as Kim’s condition was improving and only a few are still there to check on his condition, the source said.

Korea Times

According to the South Korean government there is nothing unusual going on in North Korea:

 South Korea has seen no unusual signs suggesting North Korean leader Kim Jong-un is ill, government officials said Tuesday, after CNN reported that Kim is “in grave danger after a surgery.”

“There is nothing unusual going on in North Korea. It’s not true,” a government official told Yonhap News Agency on condition of anonymity, referring to the CNN report that cited an unidentified “U.S. official with direct knowledge” of the matter.

Presidential spokesman Kang Min-seok also said that nothing unusual has been detected in the North.

Yonhap

If Kim Jong-un was at risk of dying there would be a lot more intelligence indicators to pick up which if you believe the ROK government, they are not seeing these indicators.

In 2014 this same thing happened and it ended being Kim Jong-un had ankle surgery. He could be having the same issue again due to his obesity effecting his ankles. I guess we will see what happens.

I guess somebody has to pay for the free money the DPK plans to handout after their election win:

The ruling Democratic Party, now in control of both the Blue House and a majority in the National Assembly after last week’s elections, is expected to move swiftly to reshape real estate policy in Korea.

Lawmakers are expected to soon begin discussing proposals for a comprehensive real estate tax increase, with the goal of passing a bill before the current session ends at the end of May. The quick turnaround would allow the new rules to be applied before the June 1 deadline, when property taxes are levied.

The new proposals follow recent increases to the government’s assessed values of real estate.

The government is currently proposing increasing the maximum property tax for people who own a single apartment from 2.7 percent to 3 percent. For those with multiple apartments, the tax rate would increase from 3.2 percent to 4 percent. 

The government is also pushing to raise the maximum tax that could be levied on owners of two or more apartments in areas it has designated as speculative or overheated. In the case of Seoul, that’s every district.

Joong Ang Ilbo

You can read more at the link, but the article says that apartment owners in Seocho and Gangnam could pay an additional $58,000 in property tax this year.