I just don’t understand why people like President Lee continue to push this fairy tale that North Korea can be denuclearized. I have yet to hear one good argument on how this can be done:
South Korea seeks phased denuclearization of the Korean Peninsula as it also seeks to normalize ties with North Korea, President Lee Jae Myung has said ahead of his state visit to Mongolia, which he called a “trusted partner” in such efforts.
In an interview with Mongolia’s state-run Montsame news agency released Thursday, the South Korean president highlighted Mongolia’s potential role in bridging the divided Koreas.
“I hope that Mongolia … will contribute even more to peace and stability, not only on the Korean Peninsula but across Northeast Asia as a whole.” the president said. “I believe that the power to create peace comes not from military force, but from mutual trust and dialogue.”
“Mongolia has maintained balanced relations not only with China and Russia, but with other key countries of the region … I believe this diplomatic capacity of Mongolia is more important now than at any time before,” he added.
You can read more at the link.
It will be interesting to see how attractive this visa ends up becoming:
South Korea has launched its digital nomad visa with more relaxed eligibility requirements than those applied during its pilot program, the Ministry of Justice said Tuesday.
The F-1-D visa, also known as the “workation” visa, became officially available on June 30. It allows foreign nationals employed by overseas companies to live in Korea while working remotely, unlike a work visa, which requires employment with a Korean employer.
You can read more at the link.
Please leave anything you want to discuss in the comments.
For Soldiers in Korea looking to convert some U.S. dollars into Won, now is the time to do it:
The South Korean won weakened against the U.S. dollar Tuesday amid renewed expectations that the U.S. Federal Reserve would raise its rates this year.
The won traded at 1,539.1 won per dollar, down 2.1 won from the previous session, as of 3:30 p.m., partly hit by a sell-off by foreign investors in local stocks.
The won opened at 1,539.4 won per dollar earlier in the day but tumbled to as low as 1,542.1 won at one point, marking the weakest level since June 8.
You can read more at the link.
Here is something to keep in mind that freedom of speech in the U.S. does not apply in South Korea. If you say something in the U.S. it can be used to arrest you if you travel to South Korea:
Police plan to question Korean American professor Morse Tan this week over his alleged defamation of President Lee Jae Myung, sources said Tuesday.
The questioning will take place at the Seoul Metropolitan Police Agency at 10 a.m. Wednesday over allegations that the professor at U.S.-based Liberty University falsely accused Lee of involvement in murder as a teenager.
Tan allegedly made the claim at a press conference in the United States last year. He also claimed Lee had been sent to a juvenile detention center for the crime.
You can read more at the link.
Tough day for the Korean stock market:
South Korean stocks tumbled nearly 10 percent Tuesday as foreign investors dumped major semiconductor shares and other market heavyweights amid profit-taking, tracking overnight losses in U.S. technology stocks. The local currency weakened against the U.S. dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) plunged 910.71 points, or 9.99 percent, to close at 8,203.84. The index hit an intra-day high of 9,175.45.
The Korea Exchange (KRX), the bourse operator, activated a circuit breaker at around 2:33 p.m. after the KOSPI plummeted more than 8 percent from the previous session’s close.
You can read more at the link.
When you promise people free things you have to find money to pay for it and it appears the Lee administration may be targeting home owners:
An aide to President Lee Jae Myung has hinted at imposing more taxes on homeowners to stop the housing market from further overheating.
This prompted the right-wing opposition People Power Party’s call to hold the presidential aide accountable for causing confusion in the property market, as it claimed the tax hike on the wealthy would wind up hurting the poor.
On Saturday, Kim Yong-beom, chief secretary for national policy for the liberal president, wrote via Facebook that it would be plausible to “normalize” taxation on real estate assets.
In other words, South Korea needs to “rationally adjust” property taxes and comprehensive real estate holding taxes for those owning at least a house, as well as capital gains taxes for those selling their houses for profit, he noted.
You can read more at the link.
I guess this is how Starbucks Korea is trying to end criticism of the failed Tank Day event by holding mandatory sensitivity training:
Starbucks Korea will close all of its stores nationwide early Monday to provide employee training aimed at improving historical awareness and social sensitivity, following a controversial promotion linked to the 1980 pro-democracy uprising in Gwangju.
All 2,160 stores across the country will close at 3 p.m. It marks the first time Starbucks Korea has ended operations early nationwide since opening its first outlet in 1999.
Starbucks Korea, operated by E-Mart Inc., a unit of Shinsegae Group, launched an online “Tank Day” promotion on May 18, the anniversary of the Gwangju pro-democracy uprising. The event was suspended within hours after drawing widespread public criticism.
You can read more at the link.
