Tag: South Korea

This would be a big loss for Korean companies if the new Polish prime minister decides to cancel these contracts. I guess the new Prime Minister wants to get on the Uncle Sam defense gravy train like the rest of Europe:

South Korea is in talks with Poland to ensure the multiple arms contracts signed between Korean companies and the Polish government will be carried out as agreed despite the change of the leadership in Warsaw, a Seoul official said Tuesday. 

Concerns are growing as the new Polish government, led by Prime Minister Donald Tusk, signaled a revision to some of the arms contracts inked under the preceding government, citing overspending of the budget. 

South Korean defense firms have clinched about US$13-14 billion worth of arms sales contracts with Poland this year, which include plans for deliveries of rocket launchers, fighter jets, tanks and self-propelled howitzers.

Yonhap

You can read more at the link.

This predictably did not go over well:

A team led by Andrew, comprising James, Chris and Lisa, engages in lively conversations about work while addressing each other by their first names.

This atmosphere is something that some Korean companies are trying to emulate by mandating all employees to use their preferred English name while at work.

The rationale is that they need to move away from the Korean language’s emphasis on honorifics, position titles and other formalities, to facilitate horizontal communication. The thinking is that, by ditching Korean names and the complex honorifics system attached to them in the Korean language, employees should be able to engage in more open and effective communication, encouraging innovation.

But does it actually work?

Predictable resistance

As one can imagine, not all employees welcome mandatory name-change policies with open arms.

At Kyobo Life Insurance, skepticism hangs over the company’s four-month-old English-name policy.

“It’s ridiculous,” said one employee who requested anonymity.

“Communication hasn’t improved, and some colleagues can’t even pronounce the English names, so we’ve had to post Korean pronunciations next to them on our company’s intranet.”

Korea Herald

You can read about all the examples of how this policy worked out at the link. It appears the younger the workforce is the more likely this policy will have better results.

For my readers in South Korea, bundle up because it is cold out there:

An icy cold wave that spread frigid winds over the weekend is expected to continue throughout the week, meteorologists said Sunday, urging caution over slippery roads, freezing and bursting water meters and other damage.

The Korea Meteorological Administration (KMA) issued cold wave advisories and warnings for most parts of the country, saying the ongoing cold spell is caused by a southward inflow of cold air from Siberia. 

Midday highs remained at around minus 8 degrees Celsius across the country on Sunday. On Monday, morning lows in Seoul are forecast to be minus 11 degrees and midday highs minus 2 degrees. (…….)

Amid the cold weather, the Korea Railroad Corp. (KORAIL) reported damage to a Mokpo Station-bound KTX carrying 788 passengers, saying that windows on the bullet train were cracked at around 10:10 p.m. on Saturday. 

KTX train windows are double-glazed, and this time the outer parts of the windows cracked, according to the company. The accident caused no injuries or disruptions to operation of other trains.

“While outside parts of the windows of the train have become weak due to the cold weather, some of them were cracked after they were hit by pebbles,” a KORAIL official said.

Korea Times

You can read more at the link.

This guy is lucky to be alive and will likely be spending some time in jail for surviving this fall:

An inflatable jump bag is set up in front of an apartment building in Sacheon, South Gyeongsang, on Monday after a man started engaging in a standoff while holding his ex-girlfriend hostage at knifepoint. [NEWS1]

A man in his 20s, who had been holding his ex-girlfriend hostage at knifepoint on Monday, jumped off an apartment building from a staircase between the sixth and seventh floors of the building. 
  
According to South Gyeongsang police, the incident took place in Sacheon, South Gyeongsang, at around 2 p.m. 
  
The man engaged in a four-hour standoff with the police before jumping from the building.

He struck an exterior structure of the apartment on the third floor before landing on an air mattress laid on the first floor. 
  
He was taken to a hospital by first responders. 
  
The police said that the man was undergoing court proceedings for stalking his ex-girlfriend.

Joong Ang Ilbo

You can read more at the link.

I did not realize that the Netherlands had their own chipmaking capabilities:

 President Yoon Suk Yeol began his state visit to the Netherlands by meeting with a group of Korean residents and vowing to upgrade the two countries’ relations to a “semiconductor alliance.”

As the first official schedule, Yoon and first lady Kim Keon Hee attended a welcoming ceremony hosted by Willem-Alexander, king of the Netherlands, held at Dam Square in Amsterdam on Tuesday (local time).

oon arrived in Amsterdam on Monday on a four-day visit aimed at strengthening cooperation between South Korea, a leading chip manufacturer, and the Netherlands, home to chipmaking equipment companies such as ASML.

“Semiconductors are an important area not only for our industries but also for our security,” he said during the dinner meeting with some 100 Korean residents at an Amsterdam hotel. “Through this visit, the semiconductor cooperation between South Korea and the Netherlands will be upgraded to a semiconductor alliance.”

Yonhap

You can read more at the link.

Here is the life most young South Korean couples have:

Korea’s newlywed couples were burdened with record-high amounts of debt last year while having the least number of babies in history. The number of married couples also decreased by 6.3 percent to 1.03 million in 2022 compared to the previous year, according to Statistics Korea on Monday. 
  
The statistics agency polled the country’s newlyweds whose marriage registration is less than five years old as of November last year.   
  
The median debt for respondents came to 164.2 million won ($124,600), up 7.3 percentage points from a year ago, with 89 percent of the surveyed couples in debt.

More newlyweds in Korea are falling into the category of DINK (Dual Income No Kid). The majority, or 57.2 percent, of the newlyweds have a dual income, up 2.3 percentage points on year. 
  
The proportion of dual-income households is on the decline with many females quitting their jobs to concentrate on child-rearing. 
  
The average income of dual-income couples stood at 84.3 million won compared to a single-income household with 49.9 million won. 
  
As for children, 46.4 percent of the surveyed couples had no child, marking the highest rate since the data was collected.  

Joong Ang Ilbo

You can read more at the link, but racking up records amount of debt before having kids is a sure way to keep the birth rate low because kids will greatly add to expenses. If the Korean government can find ways to relieve the debt crisis they will likely solve the birth rate crisis at the same time.

Hopefully the amount of artillery shells shipped from the ROK has not dangerously depleted their own reserves used in response to any contingency with North Korea:

South Korea’s “indirect” provision of 155-mm artillery shells for Ukraine this year has made it a larger supplier of ammunition for the war-ravaged country than all European countries combined, The Washington Post (WP) reported Monday.

In an article on Russia’s protracted war against Ukraine, the U.S. daily explained Washington’s effort to secure munitions from South Korea when the U.S.’ production of shells was barely more than a tenth of some 90,000 shells that Ukraine needed per month.

South Korean law prohibits providing weapons to war zones, but U.S. officials sought to persuade Seoul to provide munitions, estimating that about 330,000 155-mm shells could be transferred by air and sea within 41 days from Korea, according to the WP.

Yonhap

You can read more at the link.

This is a really good technology demonstration for the ROK to have put a satellite into space with a solid fuel rocket from a barge:

South Korea successfully conducted a third test flight of a solid-fuel space rocket Monday, the defense ministry said, as part of efforts to build its independent space-based surveillance system against North Korea. 

The space launch vehicle was launched from a barge floating in waters about 4 kilometers south of Jeju Island at 2 p.m. and placed a small Earth observation satellite into orbit at an altitude of about 650 km, the ministry said. 

The 100-kilogram synthetic aperture radar satellite, made by Hanwha Systems, succeeded in sending signals to a ground station at 3:45 p.m., which means it is operating normally, the company said.

The rocket is designed to put a small satellite into a low Earth orbit for surveillance operations. Compared with liquid-fuel space vehicles, solid-fuel ones are known to be usually simpler and more cost-effective to launch.

Yonhap

You can read more at the link.

The decline is students is expected to impact the entire educational industry to include the number of teachers hired in the future:

South Korea is set to record the lowest number of first graders entering elementary school next year, signaling the consequences of an apparent demographic crisis driven by the world’s lowest birth rate.

According to local reports quoting the statistics agency’s birth rate data, fewer than 400,000 children are expected to enter elementary school next year. This will be the first time the number has dropped below 400,000 since the agency started compiling data.

This comes amid a sharp decline in the number of infants born in 2017, who will be entering elementary school in March next year.

Korea Herald

You can read more at the link.