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  • Government and Party Discuss Preparations for Major Crime Investigation Agency
    Government and Party Discuss Preparations for Major Crime Investigation Agency The government and the ruling party discussed preparations for the upcoming launch of the Major Crime Investigation Agency (MCIA) scheduled for October, as well as response measures for the 'Jang Yoon-ki case.' However, the recent controversy surrounding the complete abolition of supplementary investigative powers was not included in the discussions.Members of the National Assembly's Interior Committee from the Democratic Party held a meeting with the Ministry of Interior on the morning of July 15, where they received updates on the establishment of the MCIA, including hiring procedures and the timing of job postings. They also indicated plans to develop measures to prevent a recurrence of the Jang Yoon-ki case.After the meeting, Yoon Ho-jung, the Minister of Interior, spoke to reporters, stating, "During a workshop for Democratic Party lawmakers on July 3, there was a request for a report on the preparations for the MCIA. Today, I provided an overview of the situation, including plans to finalize hiring procedures and personnel by mid-August, ahead of the October 2 launch."Lee Hae-sik, a member of the Interior Committee, added, "We are discussing the organizational structure, regulations, and appointment rules. The Ministry of Interior reported that preparations for the launch are proceeding without any issues."Additionally, the government and party discussed internal police measures related to the recent Jang Yoon-ki case during the meeting. Lee noted, "Since the National Police Agency is under the Ministry of Interior, we received a response that measures are being developed at the ministry level. The police commission and local autonomous police committees are working on strategies to prevent misconduct related to investigations."Lee also mentioned that discussions regarding the abolition of supplementary investigative powers, which have been a topic of debate within the party, did not take place during the meeting. He clarified, "The preparations for the MCIA and the issue of supplementary investigative powers are not closely related, so there was no internal discussion on that matter today."When asked if retaining some supplementary investigative powers could complicate the recruitment of personnel for the MCIA, he dismissed the concern, stating, "That could be a potential issue, but it was not discussed or raised as a problem today."* This article has been translated by AI. 2026-07-15 14:20:00
  • Current City Councilor Faces Allegations of Child Exploitation
    Current City Councilor Faces Allegations of Child Exploitation Police have launched a forced investigation into a sitting Cheongju City Councilor accused of engaging in prostitution and producing sexual exploitation materials involving minors.On July 15, Chungbuk News reported that the Cheongju Cheongwon Police Station conducted a search of the offices and home of Choi Young-jung, a 34-year-old councilor from the People Power Party, seizing computers and digital storage devices containing relevant materials.The police have charged Choi with violating the Child and Youth Protection Act (prostitution and production of sexual exploitation materials) and are currently investigating the specifics of the case.According to investigators, Choi is alleged to have engaged in prostitution and solicited minors he met through a chat application multiple times between October 2024 and May 2025. Reports indicate that the victim is a middle school student under the age of 16, and Choi allegedly used money or cigarettes as bait to demand sexual relations in vehicles and motels, during which sexual exploitation materials were reportedly recorded.The investigation began in March following a report from the victim's parents, and police plan to confirm the circumstances of the crime through digital forensics of the seized materials.Choi has denied all allegations. In a phone call with Chungbuk News, he stated, "It was not prostitution. We had known each other for a long time," and claimed he was unaware that the other party was a minor.He added, "There has been no court ruling yet, and I feel wronged. I will provide a detailed statement soon."Meanwhile, media outlets such as MBC's 'Real Investigation Team,' JTBC's 'Incident Report,' and SBS News have reportedly begun investigating the claims, but the facts remain to be verified through further investigation.Following the search, police will analyze the materials obtained and investigate the specifics of Choi's alleged actions and charges.In various online communities, discussions about the councilor have emerged, with comments such as, "If they knew each other for a long time, how could he not know she was a minor?" and "If the allegations are true, he should be expelled from office." 2026-07-15 14:20:00
  • Japans GPIF Boosts Bond Purchases Amid Falling Government Bond Yields
    Japan's GPIF Boosts Bond Purchases Amid Falling Government Bond Yields Speculation is growing that Japan's Government Pension Investment Fund (GPIF), one of the world's largest pension funds, has made significant purchases of government bonds. The GPIF's assets are built from contributions made by Japanese citizens to the Employees' Pension Insurance and National Pension schemes. There are also suspicions that the Japanese government may have mobilized the GPIF to lower the recently surging bond yields, sparking a debate over government intervention in price formation.The Nikkei reported on July 15 that the auction for 20-year government bonds held on July 14 showed an unprecedented level of demand not seen since 2010, leading to a sharp decline in bond yields. Market analysts suggest that large public investors like the GPIF may have participated in the auction.On the afternoon of July 14, following the auction results, a bond trading desk at a securities firm expressed disbelief at the unexpectedly strong demand, noting that the 'tail' of the auction, which indicates the difference between the average and lowest accepted bid prices, recorded an unusual zero. A tail of zero indicates exceptionally strong demand for bonds, a rarity since May 2010 when it last occurred.Immediately after the auction, buying pressure drove the yield on 20-year bonds down by 0.165 percentage points to 3.565%. The yield on the benchmark 10-year bonds also fell by 0.080 percentage points to 2.705%. Since bond prices and yields move inversely, the drop in yields signifies a rise in bond prices.Japanese Government Hints at Increased GPIF Bond InvestmentsAnalysts believe that the unusually strong auction results were influenced by comments from government officials hinting at a potential increase in GPIF's bond investments. Health, Labor and Welfare Minister Kenichiro Ueno stated before the auction that the GPIF's asset allocation, including stocks and bonds, is reviewed annually from a professional perspective and will be re-evaluated if necessary.Finance Minister Satsuki Katayama also emphasized that if the current growth strategy is pursued vigorously, the attractiveness of yen-denominated assets will increase, suggesting that GPIF's asset allocation should be reconsidered if economic conditions change significantly. On July 10, Katayama mentioned that the government would seek ways to encourage pension funds, including the GPIF, to invest more in Japanese financial assets.The market interpreted the remarks from both ministers as signals that the government intends to increase the GPIF's holdings of government bonds. With rising concerns over fiscal deterioration and delays in interest rate hikes by the Bank of Japan, there is speculation that the government aims to support the bond market using the GPIF's substantial funds.According to Nikkei, the amount of undisclosed bids in this auction reached 562.3 billion yen (approximately $5.17 billion), significantly higher than 295.9 billion yen in June and 174.1 billion yen in May. The high volume of undisclosed bids lends credence to the theory that large public investors like the GPIF were active buyers. The GPIF has been participating directly in Japanese government bond auctions since 2025. However, the GPIF has not disclosed specific investment details, leaving uncertainty about the extent of its bond purchases in this auction.Market concerns are more focused on the signal that the government may be mobilizing pension funds to lower interest rates rather than the actual amount of bonds the GPIF has purchased. Ryutaro Kimuara, a senior bond strategist at BNP Paribas Asset Management, noted that it cannot be ruled out that the GPIF participated in the auction without adequately considering yield levels, creating an unusual demand. He pointed out that the perception that the government is attempting to lower rates by mobilizing the GPIF could influence market sentiment.A bond dealer at a securities firm remarked, "We can't help but think that the GPIF is propping up the market, which is cooling the market sentiment. They are crossing a line that should not be crossed."* This article has been translated by AI. 2026-07-15 14:16:00
  • To Gain Support, Loan Regulations Must Be Fair and Predictable
    To Gain Support, Loan Regulations Must Be Fair and Predictable Loan thresholds at banks are rising again. Several banks are reducing mortgage loan limits and blocking loan applications. After competing for loans in the first half of the year, banks are suddenly closing their doors in the second half as they reach their annual targets. This has disrupted the financial plans of actual buyers who have already signed purchase contracts and set payment schedules. The loan regulations themselves are not inherently wrong. With household debt increasing and mortgage loans supporting rising housing prices, financial authorities cannot remain passive. Allowing borrowers to take out as much money as they want is also not a responsible policy. The issue is not whether to tighten loans, but rather who’s loans are restricted, when, and how. The main criticism of the current overall management is its unpredictability. Banks lower interest rates and increase loans in the first half of the year, but as they approach their annual growth targets, they suddenly reduce limits and close application windows. When one bank imposes restrictions, demand shifts to another bank, which then follows suit in tightening its criteria. Sudden regulations for those who have already signed contracts are not merely changes in financial conditions. If the expected loan does not materialize, buyers risk losing their deposits or scrambling for high-interest funds. Even if overall targets are important, the public needs a level of predictability to plan their finances. Another problem is the inability to distinguish between genuine demand and speculative demand. Those with substantial cash can still purchase homes even if loan limits are reduced, but for those without assets, the moment loans are blocked, home purchases become difficult. The harsher the loan regulations, the more cash-rich individuals survive, while the middle class and younger generations are pushed out. Of course, it is not feasible to lend as much as desired solely because someone is a first-time homebuyer. Debt exceeding repayment capacity poses risks to borrowers, and indiscriminately increasing loans during a period of rising home prices can further fuel price increases. A more fundamental reason for the loss of support for loan regulations is the perception that the government is blocking loan applications while failing to control housing prices. If expectations for rising home prices persist, demand will not easily dissipate even if limits are reduced. When bank loans are restricted, funds shift to secondary financial institutions or family resources. Ultimately, only official loans decrease, widening the gap based on cash mobilization ability. Loans are just one of many tools to stabilize housing prices. Supply takes time, and tax reforms carry significant political burdens, so financial regulations should not be the only repeated measure. If housing prices continue to rise despite loan restrictions, public distrust in the policy will only grow. Ultimately, tax and financial regulations must be intricately designed together. First-time homebuyers and additional purchases by multiple homeowners should not be treated with the same criteria. Greater burdens should be placed on high-value homes and multiple property owners, while reasonable financial access opportunities must be guaranteed for long-term residents and first-time buyers. Excessively high transaction taxes can lock up housing inventory. The more real estate one owns, especially at high values, the more corresponding costs should be imposed through property taxes. Overall loan management should also move away from simply setting annual targets and abruptly applying brakes in the second half. Monthly and quarterly supply plans should be established, and transitional measures should be in place for borrowers who have already signed contracts. Genuine first-time homebuyers can be managed separately, while additional loans for high-value homes and multiple property owners can be more strictly limited. The public's backlash against loan regulations is not a demand for unlimited borrowing. It stems from a growing distrust that the government has failed to stabilize housing prices while banks, after encouraging loans in the first half, suddenly close their doors in the second half. For loan regulations to gain support, they must be fair and predictable. Above all, efforts to stabilize housing prices through supply and tax policies must accompany them. Proposals to increase money supply while ignoring household debt are irresponsible, but policies that only restrict loans while leaving housing prices unchecked cannot endure.* This article has been translated by AI. 2026-07-15 14:16:00
  • Expansion of Special Investigation Team in Jang Yoon-ki Case Amid Allegations of Police Misconduct
    Expansion of Special Investigation Team in Jang Yoon-ki Case Amid Allegations of Police Misconduct The National Police Agency has elevated the existing special investigation team to a "special investigation unit" and significantly increased its personnel in response to allegations of inadequate investigation and collusion surrounding the case of Jang Yoon-ki, the perpetrator of a high school girl's murder. The appointment of a senior officer as the head of the unit and the expansion of the investigative team to 41 members reflect the agency's recognition of public outrage and the volatile nature of the situation. Following a raid on the offices of the Gwangju Police Chief and the Gwangsan Police Station on July 11, prosecutors have also begun concurrent compulsory investigations, now focusing on the alleged involvement of higher-ranking police officials. The expansion of the special investigation unit is rooted in suspicions of "systematic concealment and minimized investigation" by the police, which have eroded public trust. Initially, the Jang Yoon-ki case was nearly concluded as a simple murder. However, during the supplementary investigation by prosecutors, crucial evidence emerged, including a black box video hidden in the trunk of the perpetrator's vehicle and forensic results related to adult products, revealing that the crime was committed with the intent of sexual assault. Shockingly, despite field investigators raising concerns about the possibility of a sexual crime from the outset and recommending charges of "murder with intent to commit rape," these opinions were not reflected in the final investigation results. Therefore, the special investigation unit's top priority must be to clarify how the legitimate opinions of field investigators were disregarded and omitted during the referral process. Given that Jang Yoon-ki's father is an active police officer, there are reasonable suspicions that the investigative leadership may have been influenced by personal connections with the suspect's family or a desire to protect the organization, leading to a deliberate minimization of the case. The circumstances surrounding the failure to seize key evidence, such as the binding tools (cable ties), which were only recovered later by prosecutors from the suspect's father's home, along with the arrest of the lead investigator on charges of evidence destruction, suggest a potential cover-up beyond mere investigative negligence. This is why both the prosecution and police are conducting raids on the offices of senior officials to investigate any "improper involvement from above." This case is poised to become a litmus test for the ongoing debate over judicial reform in South Korea, transcending a simple criminal matter. There have been continuous calls from the political sphere to reduce or abolish the prosecution's supplementary investigation authority. However, without the thorough supplementary investigations and compulsory actions taken by the prosecution in this case, the brutal acts committed by Jang Yoon-ki with sexual intent and the police's destruction of evidence may have remained buried forever. The fact that the prosecution corrected the flawed investigation, which had spiraled into allegations of collusion among police leadership, underscores the necessity of maintaining the prosecution's supplementary investigation authority for the discovery of substantive truth and the protection of citizens' rights. As the police expand the special investigation unit and declare their commitment to "conduct a rigorous investigation regardless of rank or status," they must now prove this through action and results. If the investigation turns out to be merely a cover-up to protect their own, the police organization will face a severe crisis of trust. The special investigation unit and the prosecution must leave no stone unturned in clarifying the full extent of any "upper-level involvement" while addressing the grievances of the innocent victim and restoring judicial justice. * This article has been translated by AI. 2026-07-15 14:12:00
  • POSCO Announces Early Redemption of $360 Million in Foreign Currency Bonds
    POSCO Announces Early Redemption of $360 Million in Foreign Currency Bonds POSCO has become the first domestic company to conduct an early redemption of foreign currency bonds through a debt tender offer, aiming to strengthen its financial stability.On July 15, POSCO announced that it utilized its cash reserves to early redeem a portion of foreign currency bonds issued in 2023. This early redemption is intended to reduce debt and interest costs, thereby enhancing financial health.The bonds in question are 5-year dollar bonds with a fixed interest rate of 5.75%, maturing in January 2028. The funds for the redemption were sourced from existing cash reserves, with no new borrowing involved.With this early redemption, POSCO will repay $360 million of the total $1 billion issued, leaving a remaining balance of $640 million. It is also expected to save approximately $31 million in interest costs that would have accrued until maturity.This transaction is particularly significant as it marks the first instance of a domestic company redeeming foreign currency bonds through a public tender offer. This method involves all bondholders and is characterized by greater transparency compared to private negotiations with individual investors.POSCO plans to manage its foreign debt structure more stably and enhance its financial soundness amid high external uncertainties.A POSCO official stated, "This early redemption is a measure to reduce financial costs and manage debt. We will continue to manage our foreign debt more stably to improve our financial health."* This article has been translated by AI. 2026-07-15 14:04:00
  • Housing Prices in Seoul Surge as National Market Continues to Rise
    Housing Prices in Seoul Surge as National Market Continues to Rise The housing market in Seoul has seen a significant increase, contributing to a nationwide upward trend. Both sales and rental prices in the capital rose by over 1%, leading the national market.According to the Korea Real Estate Agency's "June 2026 National Housing Price Trend Survey," the comprehensive housing sales price across the country increased by 0.33% compared to the previous month, while rental prices rose by 0.38% and monthly rent prices also increased by 0.38%.The gap between the metropolitan area and provincial regions remains evident. In the metropolitan area, sales prices rose by 0.67%, rental prices by 0.71%, and monthly rents by 0.62%. In contrast, provincial areas saw minimal increases, with sales prices up by just 0.01%, rental prices by 0.08%, and monthly rents by 0.15%.Seoul's price increases significantly outpaced the national average. The comprehensive housing sales price in Seoul rose by 1.03%, while rental prices increased by 1.08% and monthly rents by 0.96%. Compared to May, the growth rates have expanded, with sales rising from 0.90% to 1.03%, rentals from 0.91% to 1.08%, and monthly rents from 0.81% to 0.96%.By housing type, the upward trend centered on apartments is now spreading to multi-family and single-family homes. Apartment sales prices in Seoul increased by 1.21%, marking the highest growth rate. Multi-family homes rose by 0.86%, and single-family homes increased by 0.49%, indicating continued growth in the non-apartment market. The Korea Real Estate Agency includes multi-family homes in its multi-family housing category and single-family homes in its multi-family housing count.The agency noted that while some outer areas and older complexes are experiencing a wait-and-see attitude, demand remains strong in preferred areas such as redevelopment zones, large complexes, and transit-accessible locations, leading to signed contracts. The rental market also continues to see demand in large complexes and transit-accessible areas with favorable living conditions.Regionally, in the Seoul sales market, Seongbuk-gu recorded the highest increase at 1.39%. This was followed by Gwangjin-gu and Guro-gu (each at 1.31%), Dongdaemun-gu (1.28%), Seongdong-gu (1.23%), Gangseo-gu (1.16%), Dobong-gu (1.15%), Songpa-gu (1.11%), Yeongdeungpo-gu (1.10%), and Gangdong-gu (1.06%). In the rental market, Seongdong-gu (2.08%) saw the largest increase, followed by Nowon-gu (1.78%), Dobong-gu (1.56%), Songpa-gu (1.53%), and Seongbuk-gu (1.50%).Conversely, provincial areas displayed notable disparities. The sales market in Ulsan (0.31%) and Jeonbuk (0.19%), Jeonnam (0.16%), and Chungbuk (0.10%) saw increases, while Gwangju (-0.31%), Sejong (-0.19%), and Jeju (-0.17%) experienced declines. The rental market also showed growth in Ulsan (0.45%), Sejong (0.31%), and Jeonbuk (0.21%), but Gwangju (-0.24%) and Jeju (-0.17%) continued to decline.* This article has been translated by AI. 2026-07-15 14:04:00
  • Seouls Officetels Become Alternative Housing Amid Rising Prices
    Seoul's Officetels Become Alternative Housing Amid Rising Prices As apartment prices and jeonse rates rise in Seoul, officetels are becoming a viable alternative housing option, leading to a continued upward trend in the city's officetel market. While sales prices saw only a slight increase, both jeonse and monthly rental prices experienced more significant gains. In contrast, local markets are still facing supply pressures, resulting in weak sales and jeonse prices.On July 15, the Korea Real Estate Agency released its '2026 Q2 Officetel Price Trend Survey.' According to the report, nationwide officetel sales prices fell by 0.30% compared to the previous quarter, while jeonse prices rose by 0.09% and monthly rents increased by 0.71%.In Seoul, all three categories—sales, jeonse, and monthly rent—saw increases, leading the national market. The sales price of officetels in Seoul rose by 0.24%, a slight increase from the previous quarter's 0.23%. Jeonse prices increased by 0.40%, up from 0.24% in the prior quarter, while monthly rents surged by 0.90%, compared to 0.75% previously.The Korea Real Estate Agency attributed the strength of the Seoul officetel market to growing demand as an alternative to apartments. The sales market remains robust, particularly in urban areas with excellent transportation links and near transit stations, while the jeonse market has seen increased demand for larger officetels. The monthly rental market continues to attract steady demand, especially in transit-accessible areas favored by students and professionals amid ongoing concerns about jeonse fraud.In the greater Seoul area, the decline in sales prices has lessened, and jeonse prices have turned upward, indicating signs of recovery. Sales prices in the metropolitan area fell by 0.19%, a smaller drop compared to the previous quarter's decline of 0.33%. Jeonse prices rose by 0.17%, reversing the previous quarter's decline of 0.05%. Monthly rents increased by 0.78%, up from 0.69% in the prior quarter.Conversely, local markets continue to struggle. Sales prices for officetels in regional areas dropped by 0.71%, a slight increase in the rate of decline from the previous quarter's 0.70%. Jeonse prices fell by 0.22%, although this was a smaller drop compared to the previous quarter's 0.26%. Monthly rents rose by 0.43%, but the increase was slower than the previous quarter's 0.54%.Regionally, the largest declines in sales prices were seen in Busan (-0.84%), Daegu (-0.70%), Gwangju (-0.55%), and Incheon and Sejong (-0.53%). In terms of jeonse prices, increases were noted in Seoul (0.40%), Daejeon (0.19%), Gyeonggi (0.07%), and Ulsan (0.04%). Monthly rent increases were highest in Seoul (0.90%), Sejong (0.88%), Gyeonggi (0.76%), and Daejeon (0.66%).The ratio of jeonse prices to sales prices averaged 86.04% nationwide, with the metropolitan area at 86.27% and Seoul at 84.50%. The conversion rate from jeonse to monthly rent was recorded at 6.62% nationwide and 6.06% in Seoul.* This article has been translated by AI. 2026-07-15 14:04:00
  • Pilot Program for Renewable Energy PPA Brokerage Platform Launches, Full Service in August
    Pilot Program for Renewable Energy PPA Brokerage Platform Launches, Full Service in August The government is launching a pilot program for a brokerage platform that connects renewable energy producers with companies seeking power purchase agreements (PPAs). This initiative aims to promote renewable energy transactions and support companies in fulfilling their RE100 commitments while ensuring stable power sales for producers.On July 15, the Ministry of Climate Energy and Environment announced the start of the PPA brokerage platform pilot project at the L Tower in Seocho-gu, Seoul. The platform will allow renewable energy producers and electricity-using companies to register their desired contract volumes online and negotiate with potential partners. The government plans to conduct mock transactions by the end of this month, with a full service launch expected in early August.Finding suitable partners has been a significant barrier to PPA activation, as companies have struggled to identify appropriate producers, while producers have faced challenges in securing demand from companies.A PPA is a contract in which renewable energy producers supply electricity directly to companies without going through the power market. An expansion of PPAs is expected to support companies in meeting their RE100 commitments, provide renewable energy producers with a stable revenue base, and alleviate the burden of renewable portfolio standard (RPS) settlements.The number of direct PPA contracts has been steadily increasing, rising from 13 contracts in 2023 to 29 in 2024, and 79 in 2025. In just the first five months of this year, 118 contracts have already been signed.The pilot program includes participation from 43 companies and associations, including renewable energy producers, renewable electricity suppliers, and RE100 demand companies. Participants will register their electricity demand and supply volumes on the platform, and once connections are made, they will negotiate contracts confidentially.The government has also established incentives to encourage platform usage. Small-scale producers who sign contracts through the platform will receive support for meter installation costs, and RE100 demand companies will have their network usage fee support extended for up to four years. Additionally, the support ratio for guarantee insurance premiums for rooftop solar producers will be increased to a maximum of 50%.Shim Jin-soo, Director of Renewable Energy Policy at the Ministry, stated, "A survey of participating companies revealed that both demand and supply volumes are around 1 GW, indicating strong industry interest. We will actively incorporate feedback from the field to develop a platform that effectively promotes PPA activation."* This article has been translated by AI. 2026-07-15 14:04:00
  • Trump Resumes Maritime Blockade Against Iran on JCPOA Anniversary
    Trump Resumes Maritime Blockade Against Iran on JCPOA Anniversary July 14, 2015, marked the day when the United States, the United Kingdom, France, Germany, China, Russia, and Iran signed the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal. Under this agreement, Iran agreed to limit its nuclear weapons development and accept inspections by the International Atomic Energy Agency (IAEA) in exchange for the lifting of economic sanctions by the international community. This diplomatic achievement was seen as a significant step toward resolving the Iran nuclear issue through dialogue and negotiation, raising hopes for reduced tensions in the Middle East.However, these expectations did not last long. In 2018, during his first term, President Donald Trump announced the U.S. withdrawal from the JCPOA and reinstated sanctions against Iran, which in turn resumed its nuclear program. The hard-won trust between the two nations collapsed, setting the stage for potential conflict.On July 14, 2026, the 11th anniversary of the JCPOA, President Trump announced the resumption of a maritime blockade against Iran. A date that once symbolized negotiation and compromise has now transformed into one representing blockade, sanctions, and pressure. This shift illustrates the reality that diplomatic agreements are not permanent safeguards and can be overturned depending on political circumstances.This issue extends beyond the JCPOA. Since his re-election last year, President Trump has effectively undermined existing trade agreements, including free trade agreements (FTAs), by prioritizing a policy of reciprocal tariffs. He sends a message to the international community that any international agreement can be discarded if it does not align with U.S. interests. Major powers, including China and Russia, are increasingly showing a preference for their strategic interests over international norms.International politics has always operated on the logic of power. However, the current international order is exhibiting a different dynamic. In the past, power supported international norms; now, there is a growing trend where power seeks to replace norms altogether. Military force and economic sanctions are emerging as primary means of problem-solving, overshadowing international law and diplomatic agreements. The treaties and institutions built over decades are now easily shaken by changes in political leadership or domestic political shifts.These changes pose greater challenges for countries like South Korea, which are highly dependent on external relations. We have grown under the assumption that international norms will always function reliably. However, the existence of agreements and their actual enforcement are entirely different matters. As international norms become more unstable, the importance of national power to support them inevitably increases.Ultimately, what we can rely on is our own competitiveness. By strengthening the rule of law and democracy, we can enhance trust in South Korea while securing competitiveness in advanced industries such as semiconductors, artificial intelligence (AI), shipbuilding, defense, and biotechnology. Today, technological prowess extends beyond industrial competitiveness; it encompasses diplomatic strength and security. Countries with irreplaceable technologies in the global supply chain can secure a more significant voice in the international community.While agreements remain a crucial foundation of the international community, the era where peace and prosperity are guaranteed solely by agreements is fading. As the logic of power grows stronger, the trust of nations that uphold principles and their ability to defend themselves become increasingly vital. To survive in a changing world, we need unwavering national competitiveness rather than vague expectations of agreements.* This article has been translated by AI. 2026-07-15 14:00:00