Wednesday, May 10, 2017

President Moon

Good morning,
Moon Jae-in of the liberal Democratic Party was elected as Korea’s 19th president with 41.1% of the votes in a snap election following President Park Geun-hye’s impeachment in March, beating a conservative runner-up with 24.0%.  Moon’s election is expected to make a dramatic shift from government polices formed in the past 9 year under conservative Lee Myung-bak and Park Geun-hye leadership.  Born in 1953 to parents who had fled from North Korea to South Korea during the Korean War in 1950, Moon fought against dictatorship as a law student in the 70's, against Park’s own father, and worked as a human rights lawyer in Busan in the 80’s.   He served as a chief of staff under ex-president Roh Moo-hyun who killed himself in a scandal in retirement in 2009.  Moon ran for presidency in 2012, but was narrowly defeated by Park Geun-hye.  From his ideology and political path, it is likely Moon will show his warm heart to North Korea, and reveal sharp teeth towards the U.S. and Japan.


 

While many South Koreans are happy to see beaming Moon shine in dark nights, Korean business communities are not.  Moon is sympathetic to union, but hostile against conglomerates. Moon wants to lower unemployment rate by hiring more government workers, and  spend big money on social welfare programs, but plans to fund the money through raising corporate taxes and income tax.  Just hope Moon doesn't go too extreme, otherwise  South Koreans will be soon riding on Moon's bullet train to Venezuela. 

Regards,
H.S.

Friday, March 10, 2017

Korean President Park struck out




Good morning,


Breaking news. South Korean president Park Geun-hye got fired on Mar 10 when Constitutional Court has unanimously upheld a decision by the National Assembly to impeach her. Park became the first president to be impeached. Park's problem
 began on Oct 24 last year when local TV station revealed the unhealthy influence scandal Park's female confidante Choi Soon-sil had over the president. South Koreans have been deeply divided between those who were for the impeachment, and against. The downtown in Seoul near Park's Blue House was packed with tens of thousands of protesters every Saturday,holding candle lights (for impeachment) and Korean flags (against) in the past four months. 

An election will be held within 60 days to replace Park. If the election is held today, Moon Jae-in from opposition party is likely to be the next president with nearly 40% approval rating, far ahead of the runner-up with 15%. Despite the court decision, the Korean political theater is expected to be pretty noisy and chaotic until the next election.

My first son just joined the same company his father did exactly 30 years ago. Like father, like son. My son was sitting on the South Pole while his father was camping on the North Pole over Park's impeachment. Unlike father, unlike son.


Regards,
H.S.