In this file photo taken on Dec. 31, 2016, Moon Hyung-pyo, former health minister, arrives at the special investigation team’s office in Seoul to undergo questioning. He was indicted on Jan. 16, 2017, over suspicions that he exerted pressure on the state pension fund to back a mega merger deal between top conglomerate Samsung Group’s two units when he was the minister in 2015. (Yonhap)
This bankruptcy of the light rail in Uijongbu is completely unsurprising because of how unnecessary it was. It is very easy to get around Uijongbu via the bus system that made the light rail a redundant form of transportation that would never meet the expected daily usage rate that was projected. According to the article the U-Line needs 118,000 people a day to ride it to break even and last year they only had 35,000 a day:
A light rail train runs on the Uijeongbu Line, Gyeonggi. The Uijeongbu Light Rail Transit Company filed for bankruptcy on Wednesday. [UIJEONGBU LIGHT RAIL TRANSIT COMPANY]The Uijeongbu Light Rail Transit Company filed bankruptcy to the Seoul Central District Court on Wednesday after just four and a half years, as the light rail failed to draw enough commuters and was insolvent for years.
The board members of the light rail company unanimously agreed on Wednesday to file for bankruptcy after its debt rose beyond 240 billion won ($200 million) at the end of last year.
The light rail trains, smaller in size and shorter than subway trains, run on the Uijeongbu Line, or U Line, in Uijeongbu, Gyeonggi. The railway stretches 11.1 kilometers (6.9 miles) from Balgok Station to Tapseok Station. The light rail opened on July 1, 2012, and was expected to draw nearly 80,000 commuters a day in its first year, according to figures obtained by the company from a consulting agency.
Only a daily average of about 10,000 used the light rail on its first year, and by the end of last year, the daily reached some 35,000. To break even, the business needed about 118,000 people daily.
“The company needs to make 45 billion won a year to operate the railway, but it’s scraping in only 15 billion won a year on average,” said an employee of the company.
Five financial institutes, including KB Kookmin Bank, lent some 352 billion won as operating funds to the Uijeongbu Light Rail Transit Company. The group sent an official letter to the company on Jan. 2, requesting that it shut down the business. [Joong Ang Ilbo]
You can read more at the link, but the Uijongbu city government is vowing to keep the light rail running which means the public will be picking up the annual operating losses.
Australia has just assigned their first Korean born ambassador to their embassy in Korea:
The first Korea-born Australian ambassador to Korea, James Choi, is interviewed by the Korea JoongAng Daily and the JoongAng Ilbo on Thursday. [KIM CHOON-SIK]The first Korea-born Australian ambassador to Korea, James Choi, stresses Australia’s longtime friendship with Korea.
“It’s a very difficult time in Korea and certain Korean newspapers are calling it samyeon-choga [to be surrounded by enemies on all sides] and naewoo-waehwan [troubles at home and abroad],” he said. “I look at the difficult period Korea is facing, with the North Korean nuclear tests, Mr. Donald J. Trump’s inauguration and the isolationist trends in China.
“I want to remind Korea that there is a friend in the region and that Australia is a natural partner for Korea,” he said. “Australia is here as a friend and a partner in the Asia-Pacific region to meet these challenges.”
Inaugurated on Dec. 27, Choi spoke with the Korea JoongAng Daily and JoongAng Ilbo on Thursday at the Grand Hyatt Hotel in central Seoul during the Australia Day event, an annual celebration to remember the beginnings of the country.
In many ways, the newly appointed ambassador represents a natural link between the two countries. Born in Seoul in 1970, Choi migrated to Australia in 1974.
“I am a beneficiary myself of Australia’s immigration policies,” Choi said, “and its openness and diversity have given me opportunities to come back to Korea as a representative of the Australian government.” [Joong Ang Ilbo]
You can read more at the link, but Ambassador Choi is correct that Australia is a natural partner for Korea in the region.
Militarily the Chinese have shown their displeasure with the THAAD deployment by flying bombers over South Korea’s Ieodo research station off the coast of Jeju while economically they are going after South Korean entertainment and companies operating in China:
China has stepped up efforts to hurt South Korea for its decision to allow the stationing of an advanced missile defense system on its soil with punitive measures to likely intensify going forward, experts predicted Wednesday.
The Seoul government, however, seems to have few countermeasures at its disposal, spawning concerns that it could face “costly” consequences if it fails to handle the situation in an effective manner, observers claimed.
On Tuesday, media reports showed that Chinese authorities have refused to approve imports of massive amounts of South Korean cosmetics as they are said to not meet their trade requirements. This was deemed the latest in a series of measures apparently aimed at punishing Seoul for its push to install a Terminal High Altitude Area Defense (THAAD) battery within this year.
In July, South Korea and the U.S. jointly announced a plan on the THAAD deployment, drawing strong opposition from China, which voiced concerns that the missile defense system equipped with the strong X-band radar could hurt its strategic security interest.
South Korea’s has countered that the THAAD deployment reflects critical national security interests to deal with evolving North Korean nuclear and missile capabilities.
Ever since the decision was announced, Beijing has taken thinly-veiled measures, mostly in business and cultural areas, aimed at pressuring Seoul to scrap its planned THAAD deployment.
Korea pop culture, known as hallyu, has been a major target with top Korean entertainers virtually banned from appearing on Chinese TV shows. More recently, the Chinese government rejected South Korean airlines’ plan to operate chartered flights to China ahead of the busy Chinese New Year holiday season.
“It has just begun,” said Kim Heung-kyu, political science professor at Ajou University. “On a scale of one to ten measuring China’s retaliation, the current level seems to be standing at only three. A full-blown retaliation that could have a real impact on South Korea has not started yet.” [Yonhap]
It seems like an unwritten law of South Korean politics that every politician has a relative involved in a corruption scandal:
As secretary general of the UN, Mr Ban has played a central role in international politics and diplomatic negotiations
US prosecutors have charged relatives of former UN Secretary General Ban Ki-moon with conspiracy to bribe a government official.
Mr Ban’s younger brother and his nephew stand accused of offering money to a Middle Eastern official, through an American middleman.
They allege the two men bribed the official to use state funds to buy their building project.
Mr Ban served as UN secretary general from 2007 until 2016.
He was succeeded by former Portuguese Prime Minister Antonio Guterres on 1 January 2017. Mr Ban is now being seen as a possible future president in his home country of South Korea. [BBC]
It looks like the Chinese are sending a message to South Korea once again that they don’t recognize their ownership of the Ieodo seamount and are still unhappy about the THAAD deployment:
The Chinese planes flew into the KADIZ near Ieodo, a submerged rock located off the southern coast of Jeju Island “several times” from 10 a.m. to 3 p.m., according to the source. He said that South Korea countered by sending some 10 fighter jets including F-15Ks and KF-16s to the area.
The South Korean jets sent a warning signal to the Chinese planes, while its Air Force also delivered warning messages to the Chinese side, the source said. The Chinese planes were said to include bombers and early warning aircraft.
In 2013, South Korea expanded its own KADIZ to cover Ieodo on which it has scientific research facilities. China also includes it in its air defense identification zone. [Yonhap]
I would not be surprised if the extradition procedures against Chung Yoo-ra does drag on considering how little evidence of a crime is at least publicly being offered by Korean prosecutors against her:
The extradition of Chung Yoo-ra, the daughter of Choi Soon-sil, the central figure in a massive scandal which has led to the impeachment of President Park Geun-hye, is expected to take some time.
Chung, 20, was arrested in Denmark’s northern city of Aalborg, Sunday, for staying there illegally. A local Danish court approved a four-week extension of her confinement the following day. Chung appealed, but the higher court denied her appeal.
Chung is reported to have accepted the higher court’s ruling, but is unwilling to return to Korea under any circumstances, according to a Yonhap report, Friday.
Earlier, Chung, who has a 19-month-old son with her, proposed to Korean authorities that she would be willing to go to Korea if she could remain with her son, whether at a welfare center or hospital. The authorities denied her request.
She reportedly changed her stance after seeing with her son at the detention center, Thursday.
Chung is arguing that her son is the main reason for her not to be extradited, as she will be detained when she arrives in Korea and won’t be able to take care of him.
By Jan. 30, Danish authorities will review whether the charges Chung faces justify her extradition to Korea. [Korea Times]
A South Korean monk was pronounced dead on Monday, two days after he set himself on fire during a mass rally in central Seoul against the country’s impeached president, hospital officials said.
The monk identified by his surname Seo had been in serious condition since he poured inflammables on his body and burned himself at around 10:30 p.m. on Saturday during the weekly candlelight vigil joined by tens of thousands of people, according to the officials.
He, who sustained serious burns all over his body, was pronounced dead at around 7:40 p.m. Multiple organ dysfunction was cited as the main cause of death.
The police suspect the 64-year-old monk tried to commit suicide since he left what is seen as a suicide note in which he called for President Park Geun-hye to immediately step down. [Yonhap]
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Via a reader tip comes news that Korean monk has set himself on fire in protest of the comfort women deal struck back in 2015 between Korea and Japan. I would love to know what this guy’s mental state was at the time because I would have to think you would have to be a little but nuts to set yourself on fire:
A South Korean Buddhist monk is in critical condition after setting himself on fire to protest the country’s settlement with Japan on compensation for wartime sex slaves, officials said Sunday.
The 64-year-old monk suffered third-degree burns across his body and serious damage to vital organs. He’s unconscious and unable to breathe on his own, said an official from the Seoul National University Hospital, who didn’t want to be named citing office rules.
The man set himself ablaze late Saturday during a large rally in Seoul calling for the ouster of impeached President Park Geun-hye, police said. In his notebook, the man called Park a “traitor” over her government’s 2015 agreement with Japan that sought to settle a long-standing row over South Korean women who were forced into sexual slavery by Japan’s World War II military, police said. [Associated Press]
You can read the rest at the link, but I think Japanese Prime Minister Shinzo Abe makes a fair point that this agreement should be implemented regardless of leadership changes as a matter of “creditability”.
