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  • KCCI Appoints Lee Si-wook as Head of Economic Research
    KCCI Appoints Lee Si-wook as Head of Economic Research The Korea Chamber of Commerce and Industry (KCCI) announced on August 24 that it has appointed Lee Si-wook, the former head of the Korea Institute for International Economic Policy (KIEP), as the new head of its Economic Research division. Lee recently passed the employment review by the government’s Public Service Ethics Committee. He is set to officially begin his role at KCCI on September 1. Born in 1967, Lee graduated from Yonsei University with a degree in economics. He holds a master’s degree in applied economics from Paris 9 University and a Ph.D. in economics from the University of Michigan. Lee has served as a research fellow at the Korea Development Institute (KDI), a professor at the KDI School of Public Policy and Management, and president of the Korean International Trade Association. He has been the head of KIEP since 2023. KCCI has been restructuring its organization this year to enhance its research capabilities in the economy and industry sectors. The newly established Economic Research division will comprehensively lead KCCI’s research functions and aim to improve expertise and policy recommendations on key economic issues. A KCCI official stated, "With the recruitment of Lee Si-wook, who has proven his exceptional capabilities through his extensive experience in academia and national research institutions, we expect the chamber's economic research and policy proposal functions to become more refined. We will present practical alternatives representing the business community in response to the rapidly changing global trade environment and domestic industrial issues."* This article has been translated by AI. 2026-08-24 23:44:10
  • Body of Missing Person Found in Jeju, Fourth Discovery Since August 22
    Body of Missing Person Found in Jeju, Fourth Discovery Since August 22 Four bodies presumed to be missing persons found in Jeju over three days Four bodies believed to be missing persons have been discovered in Jeju over the past three days, starting from August 22. According to Yonhap News on August 24, a male body, estimated to be in his 70s, was found by a fisherman at 3:04 a.m. on August 23 near Sinheung-ri in Jeju City. The fisherman reported the discovery to the local fire department. The Jeju Coast Guard confirmed that this man had been reported missing to the Jeju Eastern Police Station on August 22 and is currently investigating the cause and circumstances of his death. Later that day, at 10:46 a.m., a body presumed to be that of 37-year-old Jang Mi-ran, who went missing in May, was found near a long-term lodging facility. This marks 104 days since her disappearance. Jang's initial missing report was falsely concluded by the police officer in charge, but a re-report was filed last month, prompting ongoing searches. Additionally, at 9:35 a.m. on the same day, another missing person reported to the police was found dead near a valley in Aewol-eup, Jeju City. On August 22, a man in his 60s was also found dead in Songdang-ri, Gujwa-eup, Jeju City. This man had been reported missing on July 2, but his case was similarly mishandled by the same police officer involved in Jang's case. President Yoon nominates Choi Gil-soo as special inspector, ending 10-year gap President Yoon Suk-yeol approved the nomination of attorney Choi Gil-soo as a candidate for special inspector on August 24. If confirmed by the National Assembly, Choi will reinstate an independent oversight system to monitor the conduct of the president's relatives and senior aides for the first time in a decade. Kang Yu-jeong, the chief spokesperson for the Blue House, stated during a briefing that Choi is a legal expert with a specialization in oversight and investigations into power-related corruption. She emphasized that he is deemed suitable to independently fulfill his duties while preventing misconduct among the president's relatives and key aides, thereby restoring public trust in the civil service. Kang added, "All power must be subject to institutional oversight, and we expect that thorough monitoring of public officials will enhance trust in the public service." President Yoon selected Choi from three candidates recommended by the Democratic Party, including Choi Yong-hoon (recommended by the Korean Bar Association) and Kang Ji-sik (recommended by the People Power Party). The National Assembly approved the recommendations on August 20. Choi, a graduate of the 23rd class of the Judicial Research and Training Institute, has held various positions, including head of the special investigation unit at the Gwangju District Prosecutor's Office and chief of the criminal division at the Seoul Western District Prosecutor's Office. He currently serves as the managing partner at a law firm. In response to concerns about selecting a candidate recommended by the ruling party, the Blue House emphasized Choi's neutrality and the legal independence of the special inspector. Kang stated, "The special inspector is guaranteed complete independence in accordance with the law," and noted that Choi has a history of being recommended by the opposition party during the Moon Jae-in administration in 2019. President Yoon accepts resignation of Justice Minister Jeong Seong-ho due to health issues President Yoon Suk-yeol accepted the resignation of Justice Minister Jeong Seong-ho on August 24, who cited health deterioration as the reason for his departure. Kang Yu-jeong announced in a media statement that the president accepted Jeong's resignation, as he expressed that he could no longer perform his duties due to health issues. Kang added that the government plans to swiftly proceed with the appointment of a successor to ensure there are no disruptions in governance. Jeong officially submitted his resignation on August 18, indicating his intention to step down. He had previously voiced concerns about the burden of his duties due to serious sleep disorders. His resignation letter reportedly mentioned that with the completion of legislation to abolish the prosecution's direct investigative powers, it would be preferable for a new leader to oversee the new criminal justice system. The incoming Justice Minister will be responsible for leading the establishment of a new criminal justice system, including the launch of the Public Prosecution Service and the Serious Crimes Investigation Agency following the abolition of the prosecution office. Until a new minister is appointed, Vice Minister Lee Jin-soo is expected to act in the role. KOSPI falls over 3% amid Samsung Group stock plunge; individual investors buy 3.2 trillion won The KOSPI index fell more than 3% due to a sharp decline in Samsung Electronics, closing below the 6,700 mark. Disappointment over Samsung Electronics' recently announced shareholder return plan led to a sell-off by foreign and institutional investors, dragging down the index. On August 24, the KOSPI closed at 6,696.96, down 216 points (-3.12%) from the previous trading day. Foreign and institutional investors sold a net 3.6881 trillion won and 1.2925 trillion won, respectively. Individual investors, however, purchased a net 3.3206 trillion won, but this was insufficient to prevent the index from falling. Among large-cap stocks, Samsung Electronics saw a significant drop of 8.70%, while Samsung Electronics preferred shares fell by 8.55%. SK Hynix also declined by 3.41%. Other stocks, such as SK Square (-4.19%) and Samsung C&T (-7.84%), also experienced losses. In contrast, LG Energy Solution rose by 5.39%, and Samsung Biologics increased by 1.42%. The sharp decline in Samsung Electronics is attributed to disappointment over its shareholder return plan announced on August 21, which projected a return of 90 trillion to 110 trillion won from 2024 to 2026 but did not include immediate large-scale share buybacks or retirements that the market had anticipated. Analysts suggest that the shareholding limits imposed by the Financial Holding Company Act on Samsung Life and Samsung Fire & Marine Insurance may restrict further share buybacks. Conversely, the KOSDAQ index rose by 11.39 points (1.42%) to close at 813.33. Foreign and institutional investors bought a net 241.7 billion won and 24.9 billion won, respectively, while individuals sold a net 260.4 billion won. In the KOSDAQ, secondary battery stocks showed strength, with EcoPro rising by 7.59% and EcoPro BM soaring by 10.80%. Pharma Research also increased by 3.87%. However, stocks like Rainbow Robotics (-2.09%), HLB (-2.07%), and Lino Industries (-1.67%) fell. Lee Kyung-min, a researcher at Daishin Securities, noted, "The KOSPI is testing its support at the 6,680 level due to net selling by foreign and institutional investors. While the number of rising stocks exceeds that of falling stocks, the sharp decline in Samsung and its affiliates has exaggerated the index's drop." Government begins discussions on real estate tax adjustments just three weeks after announcement The government has initiated discussions on adjustments to certain aspects of the real estate tax just three weeks after announcing the 2026 tax reform plan. This comes amid concerns that the tax burden on non-resident homeowners may be excessively increased, indicating a potential policy revision. While the intention is to alleviate unreasonable burdens on actual users, there are concerns that frequent changes to the real estate tax based on market conditions or public opinion could undermine the predictability of the policy. According to relevant departments and political circles on August 24, the government plans to maintain the overarching framework of strengthening taxation on high-value properties while addressing the simultaneous increase in the comprehensive real estate tax and capital gains tax burdens on non-resident homeowners. During the 10th high-level party-government meeting held the previous day, this issue was a key agenda item. Kim Min-seok, the leader of the Democratic Party, expressed general agreement with the government's direction on expanding real estate supply and tax reform but emphasized the need for further review regarding the tax burden on non-resident homeowners. Under the initial government proposal, non-resident homeowners would see simultaneous reductions in tax benefits for both the comprehensive real estate tax and capital gains tax. The basic deduction for the comprehensive real estate tax applicable to one-household, one-homeowners would be lowered from the current 1.2 billion won to 900 million won, while the capital gains tax would be restructured to gradually eliminate benefits based on the holding period, focusing instead on the actual period of residence. This has raised concerns that homeowners who cannot directly reside in their properties due to work, children's education, or family care may face a sharp increase in their tax burden. Kim also pointed out that even if the current system is maintained, the tax burden on non-residents naturally increases due to rising publicly assessed property values. Kim Jeong-sik, an emeritus professor of economics at Yonsei University, noted, "Even if the basic deduction for non-residents is lowered, if existing tax credits for long-term holders and seniors are maintained, the actual tax burden may not significantly increase. However, if the administrative costs or market backlash outweigh the policy effects, we need to reconsider whether it is necessary to impose disadvantages on non-residents separately." Some express concerns that the government's decision to discuss revisions just three weeks after announcing the tax reform plan could diminish the predictability of the policy. Real estate tax directly impacts household asset management decisions, including when to buy or sell properties, as well as holding periods and rental status. Frequent changes could distort the decision-making of market participants. In particular, homeowners may delay selling their properties, leading to a slowdown in the market. If the government is perceived to repeatedly defer or modify tax policies based on market conditions or public sentiment, it may weaken the signal of future tax policies, even if they are strengthened. This presents a dilemma for the government. While it is necessary to address unexpected excessive tax burdens during the legislative process, retreating from the initial framework of the policy immediately after its announcement could undermine the credibility of the tax policy. Ultimately, the challenge will be to reduce unreasonable burdens on taxpayers while maintaining the originally proposed long-term tax principles to a certain extent. Professor Kim stated, "Even if the basic deduction for non-residents is lowered, if existing tax credits for long-term holders and seniors are maintained, the actual tax burden may not significantly increase. We need to evaluate whether it is necessary to impose disadvantages on non-residents separately, considering the administrative costs and market reactions."* This article has been translated by AI. 2026-08-24 21:40:00
  • Woman in Her 50s Found Dead in Jeju; Police Pursue Suspect
    Woman in Her 50s Found Dead in Jeju; Police Pursue Suspect A woman in her 50s was found dead in Jeju, prompting a police investigation. According to Yonhap News, the woman, identified as A, was discovered deceased at a residence in Namwon-eup, Seogwipo City, around 7 p.m. on August 24. Police are treating the case as a homicide and have begun forensic examinations while searching for a suspect. This incident follows a series of recent discoveries of bodies believed to be missing persons in Jeju. Four bodies have been found in the past three days. On August 23, a male body, estimated to be in his 70s, was found by a fisherman near Sinheung-ri in Jeju City at 3:04 a.m. and reported to emergency services.Later that morning, at 10:46 a.m., a body believed to be that of 37-year-old Jang Mi-ran, who had been missing since May, was discovered near a long-term lodging facility. This marked 104 days since her disappearance. The initial missing person report was falsely concluded by the officer in charge, but a re-report last month led to renewed search efforts.Additionally, at 9:35 a.m. on the same day, another missing person reported to the police was found dead near a valley in Aewol-eup, Jeju City.Earlier, on August 22, a man in his 60s was found dead in Songdang-ri, Gujwa-eup, Jeju City. This man had also been reported missing on July 2, but his case was similarly mishandled by the same officer involved in Jang's case. * This article has been translated by AI. 2026-08-24 21:40:00
  • Incheon Area Experiences 2.5 Magnitude Earthquake
    Incheon Area Experiences 2.5 Magnitude Earthquake A 2.5 magnitude earthquake struck near Baengnyeongdo, Incheon. According to the Korea Meteorological Administration, the earthquake occurred at 8:55:52 PM on August 24, 2026, in waters 35 kilometers southwest of Ongjin County, Incheon. The epicenter was located at a latitude of 37.66 degrees north and a longitude of 124.54 degrees east, with a depth of 17 kilometers. Additionally, a 3.1 magnitude earthquake was reported on August 23 at 6:43:01 AM, 21 kilometers northwest of Haenam County in Gwangju. The epicenter of this quake was at a latitude of 34.66 degrees north and a longitude of 126.40 degrees east, with a depth of 21 kilometers. In the past ten days, seven earthquakes of magnitude 2.0 or greater have been recorded in the area northwest of Haenam, including one each on the 14th and 15th, two on the 16th, and one each on the 21st to 23rd. Including minor quakes below magnitude 2.0, a total of 71 earthquakes have been detected. A similar series of earthquakes occurred in the same region in 2020, with 76 quakes recorded from April 26 to June 11, 2020. The largest quake during that period also registered a magnitude of 3.1. The Korean Peninsula is situated on a tectonic plate, and all earthquakes occurring here are classified as intraplate quakes. These intraplate earthquakes arise from the reactivation of previously active faults within the plate. * This article has been translated by AI. 2026-08-24 21:20:00
  • Jung Jeom-sik Vows Thorough Review of Special Inspector Nominee
    Jung Jeom-sik Vows Thorough Review of Special Inspector Nominee Jung Jeom-sik, the floor leader of the People Power Party, stated on August 24 that he will ensure a thorough review of the special inspector nominee, Choi Gil-soo, who was appointed by President Lee Jae-myung. In a Facebook post, Jung expressed disappointment that the president did not nominate a candidate recommended by the People Power Party after prior consultation, but acknowledged that a nominee had finally been put forward after 447 days. He speculated that the Democratic Party likely respected the president's appointment authority and recommended Choi after prior discussions and face-to-face meetings. Jung criticized the Blue House's assertion that the nominee is a 'neutral appointment not biased toward any specific party or faction,' calling it laughable. Park Seong-hoon, the chief spokesperson for the People Power Party, welcomed the normalization of the special inspector role after ten years but expressed concerns about the nominee. He noted that the nominee appears to have been chosen by a political ally of the administration, raising doubts about the independence of oversight. Park emphasized that since Choi is starting with the label of a ruling party recommendation, he must demonstrate political neutrality and independence through actions, not just words. He stated that whether the special inspector becomes a guardian of power or a shield for the administration now depends on President Lee and Choi. On this day, President Lee Jae-myung nominated Choi Gil-soo, a 60-year-old attorney and 23rd class of the Judicial Research and Training Institute, as the special inspector.* This article has been translated by AI. 2026-08-24 21:12:00
  • People Power Party to Hold Retreat in Goyang with Park Geun-hye Expected to Attend
    People Power Party to Hold Retreat in Goyang with Park Geun-hye Expected to Attend The People Power Party will hold a retreat in Ilsan, Goyang, from August 27 to 28, with all party members expected to attend.According to Yonhap News on August 24, former President Park Geun-hye is anticipated to attend the retreat on the first day, August 27. This follows an invitation extended by the party's floor leader, Jeong Jeom-sik, during a recent visit to Park's residence in Daegu. It is unusual for a former president to participate in such an event.Park previously campaigned for People Power Party candidates during the June 3 local elections, visiting regions including Gangwon, Chungcheong, and Yeongnam at their request.A key party official told Yonhap, "Since Park has served as our party leader and emergency response committee chair, and was elected president under our party's nomination, we hope she can share her thoughts on the direction our party should take with the members during the retreat."The first day of the retreat will include discussions on party innovation strategies, major policies for the upcoming regular National Assembly session, comprehensive discussions on key issues, subcommittee discussions, and regional meetings.Additionally, external experts are scheduled to give lectures on artificial intelligence (AI), diplomacy and security, and conflict resolution. Lee Seung-hyun, CEO of Alpaca Labs and author of 'AI National Wealth Theory,' will speak on AI, while Park Won-gon, a professor at Ewha Womans University specializing in North Korean studies, will address diplomacy and security. Kim Kyung-il, a psychology professor at Ajou University, will cover conflict resolution.On the second day, a discussion titled '2030 Youth Talk' will focus on real estate, stocks, and employment, which are major concerns for young people. Following this, all party members will engage in free discussions and adopt a resolution to be announced.* This article has been translated by AI. 2026-08-24 20:52:00
  • Exploring the Northern Sea Route: A Shortcut or a Risky Venture?
    Exploring the Northern Sea Route: A Shortcut or a Risky Venture? The world’s maritime routes have long been established. To send goods from Asia to Europe, the conventional path involves navigating through the South China Sea and the Strait of Malacca into the Indian Ocean, then passing through the Red Sea and the Suez Canal to reach the Mediterranean. A significant portion of global maritime trade relies on this route. The United States has maintained a strong naval presence in the Indo-Pacific and the Middle East, partly to ensure the safety of this maritime corridor.However, this order is now facing cracks. Attacks on vessels by Houthi rebels in the Red Sea and rising military tensions in the Middle East, particularly around the Strait of Hormuz, are undermining the safety of existing routes. Some shipping companies are opting to bypass the Suez Canal by sailing around Africa’s Cape of Good Hope. This detour increases transportation times and raises fuel and insurance costs, making it difficult to predict when shipments will arrive.In this context, China is taking the lead in developing the Northern Sea Route. Last year alone, it made 23 voyages along this path. The Northern Sea Route, specifically the Northeast Passage, aims to become a new logistics axis for shipping goods from Europe along Russia’s northern coast. This month, Sealegend Shipping has already launched the world’s first weekly regular container service between China and Europe, moving beyond trial voyages.South Korea is also venturing into the Northern Sea Route. On the night of August 22, the 2,758 TEU container ship 'PanStar Acro' departed from Busan Port, marking the first instance of a South Korean shipping company operating a container vessel along this route. The PanStar Acro is expected to enter Arctic waters around August 30 and pass through by September 7. It will then visit Felixstowe in the UK, Rotterdam in the Netherlands, and Gdansk in Poland before returning to Busan around October 5. This route is estimated to be about 7,000 kilometers shorter than the traditional Suez Canal route, potentially reducing travel time to Europe by approximately 10 days.The Ministry of Oceans and Fisheries plans to gather data from this voyage to assess whether the Northern Sea Route can offer the economic viability and safety needed to replace existing routes. They will analyze cargo acquisition, punctuality, and insurance and financial costs to outline the necessary steps for establishing a regular service by 2030.Why Look North Now?The Northern Sea Route has not garnered much interest in the shipping industry until recently. The primary reason has been the presence of sea ice, which makes navigation difficult without icebreakers. Additionally, the decline in international oil prices has diminished the fuel savings associated with shorter distances. However, interest in the Northern Sea Route has surged due to two converging factors. One is climate change; global warming is rapidly reducing Arctic sea ice, creating conditions for large vessels to pass during the summer months. According to the Centre for High North Logistics in Norway, 88 vessels passed through the Northeast Passage last year, with 103 transits recorded. This is more than double the figures from just two to three years ago, which were 43 in 2022 and 97 in 2024.The other factor is geopolitical instability. Attacks on vessels by Houthi rebels in the Red Sea have led major shipping companies to choose the longer route around Africa’s Cape of Good Hope instead of the Suez Canal. Coupled with military tensions in the Middle East surrounding the Strait of Hormuz, the global shipping industry is acutely aware of the risks of a structure where one blockage can disrupt the entire system. A few days' delay in shipping can halt production lines in automotive parts factories. In this environment, companies prioritize not the cheapest rates but rather a 'second route' that can be accessed immediately in times of crisis.China is Already One Step AheadSealegend Shipping in China plans to operate seven container ships for eight voyages from August 15 to October 3. The transportation time is expected to be reduced by about 15 days compared to the Suez route, taking 20 to 22 days. The cargo includes high-value items such as electric vehicles, lithium batteries, and solar-related products that China exports in large quantities to Europe. This indicates that China is testing the Northern Sea Route not merely as a transport route for raw materials but as a full-fledged container logistics network.In 2018, China declared itself a 'near-Arctic state' through its Arctic policy, committing to participate in the economic, scientific, and navigational development of the Arctic. China has three strategic calculations: diversifying its logistics network to reduce dependence on bottlenecks like the Strait of Malacca, enhancing energy cooperation with Russia amid Western estrangement following the Ukraine war, and strategically positioning itself by accumulating operational experience, port expertise, and icebreaker technology before the route fully opens. China is sending not only container ships but also icebreakers and research vessels to the Arctic, expanding its connections with ports like Murmansk in the Russian Arctic. Rather than waiting for the route to open, China is actively participating in the process of its development.South Korea's Dilemma: Cooperation with Russia is EssentialHowever, South Korea faces a challenge that China does not. Most of the Northeast Passage falls under Russian jurisdiction, meaning South Korea must seek cooperation from Russia to obtain the necessary permits for the PanStar Acro to pass through the Arctic route. This situation raises the potential for conflict with Western allies regarding sanctions against Russia. According to a Reuters report, a European diplomat noted that the West is trying to isolate Russia due to its war in Ukraine and is reluctant to engage with it. These concerns have reportedly been communicated to the South Korean government through diplomatic channels.The issue extends beyond mere discomfort. Experts in Arctic shipping warn that if unexpected situations arise, such as becoming trapped in ice, South Korea may need to request assistance from Russia, which could trigger complications regarding sanctions. This means that the choice of a single vessel's route could escalate into a diplomatic and security issue.South Korea's challenge lies in balancing its relationships with Western allies while navigating a route that cannot be accessed without Russian cooperation. This situation contrasts sharply with China's ability to leverage its close ties with Russia without significant constraints. A PanStar official told Reuters that China is trying to secure a 'first-mover advantage' in this route, making South Korea's operations even more urgent. However, how the South Korean government balances this urgency with concerns about friction with the West remains a significant question raised by this voyage.Why Aren't Major Global Shipping Companies Taking Action?This raises a natural question: if the Northern Sea Route is so attractive, why aren’t major global shipping companies like Maersk, CMA CGM, and Hapag-Lloyd actively participating? The answer stems from the same roots as South Korea's dilemma. First is the Russian risk. A significant portion of the Northern Sea Route runs along the Russian coast, requiring permits from Russian authorities and assistance from icebreakers. However, Russia is under Western sanctions. While using the route itself cannot be simplified as a violation of sanctions, the process of engaging with Russian entities poses risks that could affect insurance, reinsurance, and financial transactions. Major shipping companies, which are intertwined with financial institutions, shippers, and insurers worldwide, are particularly sensitive to these risks.Second is environmental and safety concerns. The Arctic Ocean is characterized by shifting ice and rapidly changing weather, making rescue operations difficult in the event of an accident. GPS and communication can become unstable, and there is insufficient infrastructure for ports or repair and rescue facilities. Third is economic viability. While the route may allow for a 20-day journey, that does not necessarily mean it is cost-effective. If vessel sizes are limited, unit transportation costs increase, and when factoring in icebreaker support and insurance premiums, the financial burden grows. A study by former naval officer Choi Hye-won published in the journal 'Ocean Policy Research' found that the unit transportation costs for the Northern Sea Route may actually increase. Choi also pointed out that the Northern Sea Route is not a year-round route but rather a seasonal route for container ships that is only navigable during the three summer months when the ice melts.South Korea's First Steps: What Needs Testing?Under these conditions, South Korea is just beginning its journey. PanStar, selected as the trial voyage operator through a government-supported bidding process, has acquired a container ship from HMM and modified it for polar navigation, crewed by 20 South Koreans and Indonesians. The Lee Jae-myung administration aims to use this trial voyage as a stepping stone to establish Busan as a global shipping hub and to create a regular commercial route along the Northern Sea Route by 2030.The primary focus of this trial voyage will be to verify actual economic viability. Just because the distance is shorter does not mean costs will decrease. Fuel costs, icebreaker support fees, insurance and reinsurance costs, payments to Russia for navigation-related expenses, and port waiting times must all be considered to determine the true cost. The second focus is punctuality. If schedules are delayed by three or four days due to ice and weather conditions, the actual arrival time becomes far more critical to shippers than the stated '20 days.' The third focus is return cargo. While there may be sufficient cargo to fill the ship when heading to Europe, a lack of return cargo will inevitably reduce profitability as a regular route. Expanding cargo networks to include Russia, Northern Europe, and Central Asia is essential for creating two-way traffic.Busan as the Northern Sea Route HubSouth Korea cannot simply close the gap by following in China's footsteps. While China is already building a network involving ships, ports, energy, and capital, South Korea is still at the stage of confirming the commercial viability of a single vessel. If the Northern Sea Route, the shortest maritime path connecting Asia and Europe, becomes active, Busan Port, located along this route, is likely to gain recognition as a new center for maritime logistics. Therefore, establishing a logistics ecosystem centered around Busan should serve as the starting point for the government's goal of becoming a 'global maritime power' by securing the Northern Sea Route. The relocation of the Ministry of Oceans and Fisheries to Busan in December last year, the first year of the current administration, was a strategic move to realize this national agenda.Optimism and SkepticismSouth Korea faces variables that China and European countries do not, particularly the Korean Peninsula. For a ship departing from Busan to enter the Northern Sea Route, it must pass through the East Sea. Heightened military tensions around the Korean Peninsula could jeopardize the safety of this segment. If the threat from North Korea necessitates a detour outside the Japanese archipelago, the distance-saving benefits of the Northern Sea Route would diminish. Thus, South Korea's strategy for the Northern Sea Route cannot be completed solely through maritime and fisheries policies. The interplay of relations with the West, negotiations with Russia, and the North Korean variable necessitates a coordinated approach across diplomatic, security, industrial, and energy policies.The debate surrounding the Northern Sea Route features two extremes: the optimism that the era of the Suez Canal is ending and the skepticism that ice and sanctions render it impractical. What South Korea needs is neither exaggerated rosy projections nor hasty pessimism regarding the Northern Sea Route. The trial voyage should serve as a sober experiment to verify costs, risks, punctuality, cargo, sanctions, and security issues, ultimately linking these findings to a national logistics strategy.Whoever can transform the new maritime route into a sustainable industry and national logistics network will be at the forefront of the competition over the Northern Sea Route.* This article has been translated by AI. 2026-08-24 20:44:00
  • Another Missing Persons Body Found in Jeju, Fourth in Three Days
    Another Missing Person's Body Found in Jeju, Fourth in Three Days Four bodies presumed to be missing persons have been discovered in Jeju over the past three days, starting from August 22. According to Yonhap News on August 24, a male body, estimated to be in his 70s, was found by a fisherman at sea near Sinheung-ri in Jeju City at 3:04 a.m. on August 23. The fisherman reported the discovery to the 119 emergency services. The Jeju Coast Guard confirmed that the man had been reported missing to the Jeju Eastern Police Station on August 22 and is currently investigating the cause and circumstances of his death. Later that day, at 10:46 a.m., a body believed to be that of 37-year-old Jang Mi-ran, who went missing in May, was found near a long-term lodging facility. This marked 104 days since her disappearance. Initially, the police officer handling her case had falsely closed the missing person report, but it was reopened last month, prompting ongoing search efforts. Additionally, at 9:35 a.m. on the same day, another missing person reported to the police was found dead near a valley in Aewol-eup, Jeju City. On August 22, a man in his 60s was also discovered dead in Songdang-ri, Gujwa-eup, Jeju City. This individual had been reported missing on August 2, but the same police officer involved in Jang's case had also falsely closed this report.* This article has been translated by AI. 2026-08-24 20:44:00
  • Ansan Mayor Lee Min-keun: Award Reflects Commitment to Citizens
    Ansan Mayor Lee Min-keun: Award Reflects Commitment to Citizens Lee Min-keun, the mayor of Ansan, expressed on August 24 that his recent award from the 2026 Manifesto Commitment Awards is a testament to the city's commitment to fulfilling promises made to its citizens.Mayor Lee announced that he was selected as a recipient in the election promise category of the '2026 Manifesto (Local Election Category)' organized by the Korea Manifesto Practice Headquarters.The award recognized the clarity, feasibility, and community involvement in the election promises presented during the 9th National Simultaneous Local Elections.The Korea Manifesto Practice Headquarters conducted a comprehensive review of election materials from newly elected heads of local governments and education superintendents from June 4 to July 10, followed by a secondary evaluation from July 13 to 15, which included a review of official documents to determine the final awardees.The evaluation criteria included clarity of objectives, prioritization, implementation procedures, timelines, funding strategies, philosophy and vision, and the democratic nature of the drafting process.In the election promise category, a total of 16 individuals, including Mayor Lee, were recognized among heads of local governments and education superintendents nationwide.Mayor Lee achieved a 92.7% fulfillment rate for 115 promise projects during his 8th term and received the highest rating of SA for two consecutive years in the national evaluation of local government promise fulfillment and information disclosure for 2025-2026.While citizens generally reacted positively to the award, many emphasized the importance of translating this recognition into tangible policy outcomes that they can feel in their daily lives. One resident stated, 'While creating and being recognized for promises is important, the most crucial aspect is that citizens experience real change in their lives.' They expressed hope for progress in areas such as transportation, jobs, housing, education, and the local economy.Another citizen remarked, 'I hope this award prompts greater transparency in the progress of promises, highlighting both successes and shortcomings. I expect the mayor to remain committed to keeping promises to the citizens.'Mayor Lee added, 'I will continue to actively reflect the voices of citizens in creating promises and strive to ensure that the projects we commit to lead to tangible results for the community.'Looking ahead, Mayor Lee plans to incorporate citizen feedback into his administration's promises during the 9th term, maintaining a focus on feasible and responsible commitments to uphold 'administration that keeps promises to citizens.'* This article has been translated by AI. 2026-08-24 20:32:10
  • Justice Minister Jeong Seong-ho Calls for Legislative Review of Criminal Procedure Law
    Justice Minister Jeong Seong-ho Calls for Legislative Review of Criminal Procedure Law Justice Minister Jeong Seong-ho, who is stepping down after 13 months in office, stated that there are areas needing improvement in the legal basis for the joint investigation headquarters and the command authority over special judicial police during the amendment process of the criminal procedure law. He expressed his intention to discuss these issues with his party upon returning to the National Assembly. On his last day at the Government Complex Gwacheon, Jeong told reporters, "There were shortcomings in the amendment process of the criminal procedure law." He elaborated, "We need to examine how the joint investigation headquarters can operate without a legal basis and how individual cases can be handled without command authority over special judicial police. We also need to consider the role of the prosecution office in this context." Jeong added, "It would not be appropriate to point out issues as I leave my ministerial position, so I will not go into specifics right now. However, I intend to discuss the problems I have perceived with my party in the National Assembly." Regarding the controversy over the Supreme Court's written recommendation for justices, he remarked, "The President is the head of the executive branch directly elected by the people and holds the authority to appoint justices. I hope the Supreme Court will consider how to resolve this issue while respecting the President's appointment authority." As for the prosecution office set to launch in October, Jeong emphasized, "It must continue to handle prosecutions and maintain its functions without being diminished." He further noted, "Without supplementary investigative authority, a large number of prosecutors will be necessary to ensure that prosecutions are not compromised."* This article has been translated by AI. 2026-08-24 20:28:00