I wonder if this is a loan shark tactic that has come to Korea yet?:
A hand written loan slip. The interest rate of lending 2000 yuan is 100% for two month. One of the leaked photo circulated online.
It is an open secret that some online finance service platforms are asking female debtors to give them nude photos in exchange for a loan, or to extend the deadline of debt payment. Now, with the leaking of female debtors’ nude photos and videos online — thanks to the circulation of a 10-gigabytes file on the Chinese internet — the alarm has been sounded.
The zipped file contains photos and sex tapes of at least 161 women, the majority of which are college students between 17 to 23 years of age. Along with the visual materials are chat records and identity information — including relatives’ names and personal particulars.
The leaked documents come from Jiedaibao, a social network-based, online finance service platform, which facilitates one-on-one loans. Debtors must use their real identity in their profile, while the lenders can remain anonymous. The finance company has issued a statement denouncing any involvement with the leak, and is reportedly cooperating fully with the police in the investigation.
In order to get a loan, the young women were asked to take nude selfies holding their identity card; some were even asked to masturbate in front of the camera. In addition to this, other documents were shown — include student identity cards, and screenshots of university student user platforms. [Global Voices]
Here is the latest on the Trump phone call with the President of Taiwan that the media was initially trying to frame as him bungling US foreign policy:
U.S. President-elect Donald Trump’s phone call with Taiwan’s president shows the incoming administration believes China should work hard on North Korea as much as it cares about the cross-strait issue, a transition team official was quoted as saying Tuesday.
The official made the remark during a meeting with a group of South Korean lawmakers, pointing out that China has been unwilling to use its influence over Pyongyang even though Beijing provides most of the North’s energy and food supplies, according to the participating lawmakers.
They declined to identify the official.
On Friday, Trump spoke by phone with Taiwanese President Tsai Ing-wen, breaking the decadeslong diplomatic tradition that the U.S. has kept under its “One China” policy since severing ties with Taiwan and normalizing relations with Beijing.
China considers Taiwan a renegade province that must be unified with the mainland and rails against any support for Taiwan’s independence or the notion that the island is not part of the country. Despite the absence of formal diplomatic ties, the U.S. has maintained friendly relations with Taiwan. [Yonhap]
It looks like Japanese pop culture is filling the vacuum caused by the K-Pop ban in China caused by the THAAD dispute:
China has become hostile toward South Korea’s entertainment content but is welcoming to cultural products from Japan despite its strained political ties with both countries, sources close to the matter said Sunday.
Relations between China and South Korea took a hit earlier this year after Seoul announced the deployment of an advanced U.S. missile defense system called Terminal High Altitude Area Defense (THAAD) on its soil. While South Korea and the U.S. argued the system would only be used to deter North Korea’s growing nuclear and missile threats, China protested the move as a serious threat to its security interests.
In the months that followed, a number of South Korean celebrities were reportedly forced to cancel their scheduled events in China, while various South Korean TV programs and films had to postpone their release in the country.
“Judging from what I’ve determined through various channels, the ban on Korean cultural products appears to be real,” said one source who spoke on the condition of anonymity. “Chinese broadcasters have not only banned the appearance of South Korean entertainers but also taken down commercials featuring them.”
The Chinese government has refused to verify rumors of the ban, although according to the sources, many Chinese enterprises have stopped applying for government permission for concerts or appearances by South Korean stars.
Before the THAAD decision, China was a huge market for South Korean cultural products mostly related to “hallyu,” or the K-pop and K-dramas that have gained increasing popularity worldwide.
As Korean content took a hit, Japan’s cultural content has shown no signs of losing ground in China.
In fact, the Japanese animation film “Your Name” drew 2.24 million people on Friday, breaking the opening day record for a 2D animation in China. Moreover, local media have praised the film with top ratings and rave reviews. [Yonhap]
It looks like more people are beginning to realize that the North Korean problem is really a Chinese problem. Here is what journalist Gordon Chang thinks should be done by the incoming Trump administration to address the Chinese backing of North Korea:
North Korea looks impossible to solve, and it is if we see China as on our side. It is not. But if we treat China as part of the problem, which it most certainly is, then we can begin to craft solutions, like secondary sanctions. Xi Jinping, the Chinese leader, will stop supporting North Korea only when the costs of doing so are too high. So far, his country has suffered almost no penalty.
To impose costs, Trump’s administration could, among other things, cut offending Chinese banks off from the global financial system, sanction every Chinese proliferator, and impose his threatened 45% across-the-board tariff on China’s goods. He could end negotiations on the Bilateral Investment Treaty and treat Chinese businesses like Beijing treats American ones.
And Mr. Trump, starting January 20, will have the tools to raise the costs on Beijing. The Chinese will surely retaliate, but they have few effective options for a long-term struggle. After all, last year they ran a $334.1 billion trade surplus in goods and services against the United States. Trade-surplus countries are vulnerable in trade wars, and that is especially true of a China with an already fragile economy that is dependent on the American market. [Forbes]
It is pretty ironic that North Korea is making this request at the same time they are promoting their obesity cure:
North Korea has made a state request to officials in China pleading for them to stop referring to ‘glorious leader’ Kim Jong-un as fat.
Ministers have reportedly asked their neighbours to refrain from referring to the chunky Swiss cheese fan as Jin San Pang or ‘Kim Fatty III’ in media or conversations.
Apparently ‘Kim Fatty III’ is a widely used nickname for Kim in China along with Jin Pang Pang (Kim Fat Fatty) or Jin San Fei (Kim Abundant III).
Now According to the Apple Daily in Hong Kong, terrified North Korean government officials have called on their old comrades to take action before heads roll. [FOX News]
It was an amazing US election to see Donald Trump defy expectations and win the US Presidency over Hillary Clinton. Congratulations to him and his campaign team. His election will definitely be something that political scientists will be talking about for decades to come. By the way I thought his acceptance speech was really good:
“Now it’s time for America to bind the wounds of division, have to get together. To all Republicans and Democrats and independents across this nation, I say it is time for us to come together as one united people. I pledge to every citizen of our land that I will be president for all Americans,” he said.
To countries around the world, Trump said, “While we will always put America’s interests first, we will deal fairly with everyone, with everyone.”
“All people and all other nations. We will seek common ground, not hostility, partnership, not conflict,” he said. [Yonhap]
Here is what South Korean President Park Geun-hye had to say about the election of Donald Trump:
The commander-in-chief made the remarks during a briefing on the outcome of the National Security Council (NSC) session after Republican Donald Trump won the White House in a hard-fought race against Democratic rival Hillary Clinton.
“Given the United States is our ally and that the South Korea-U.S. relationship has a great impact on our diplomacy, security and economy, I think we need to extensively explore ways to develop close relations with the incoming Trump administration,” she said.
“In light of the grave situation in which North Korea’s nuclear and missile threats are growing day by day, I call on you to establish cooperative ties with the incoming U.S. administration early in the stage of the government transition,” she added. [Yonhap]
So what does Donald Trump’s victory mean for the people of South Korea who were deeply against the election of Trump? Here are my quick thoughts on the biggest areas that the ROK should expect possible impacts on:
US-ROK Free Trade Agreement: Due to Trump’s election victory the Korean stock market has tanked. The market tanked because of fears that Trump will want to renegotiate the US-Korea Free Trade Agreement:A key concern is Trump’s “America first” position that includes a preference for trade protectionism.“The market will inevitably face a short-term adjustment if Trump wins,” said Kim Ji-na, a fixed income analyst at IBK Securities. “There’s even a possibility that the 1,900 barrier could fall as Trump’s victory will only raise instability and bring about policy risks.”The bigger concern is that Korea’s economy, which has been facing tough times due to shrinking exports, will suffer heavily.“The Trump victory will not only act as a potential risk for the Korean market but also the global economy,” said Hwang Na-young, a Woori Finance Research Institute researcher. “Once Trump and the Republicans take over, most of the major policies of the Barack Obama years will be reversed: repealing Obamacare, huge tax cuts, easing of financial regulations and a preference for fossil fuel.
“Major changes are likely in regards to trade policies as protectionism deepens on top of an isolationist approach to diplomatic polices.” [Joong Ang Ilbo]
Here are some facts and figures about Korea-US trade from the Joong Ang Ilbo article:
I would be surprised if Trump makes it a priority to go after the US-ROK FTA. Considering the amount of manufacturing jobs brought to the US from Korean car manufacturers it seems the US-ROK FTA is a deal he would want to keep in place. I think his immediate focus will be on the Trans-Pacific Partnership (TPP) and the North American Free Trade Agreements (NAFTA) which he has been highly critical of.
North Korea Nuclear Issue: I don’t see Trump wanting to make any nuclear agreement with Kim Jong-un considering the country’s past track record of violating the agreements. What I do think he will do is push for more sanctions against Chinese banks and businesses in an effort to pressure the Chinese government to reign in North Korea:
Trump also identified North Korea as a problem for China, not the U.S.
“I would get China to make that guy disappear, in one form or another, very quickly,” Trump said in February on the CBS TV program “This Morning.”
“China has absolute control of North Korea. They won’t say it, but they do. And they should make that problem disappear.” [Korea Times]
Immigration: Any Koreans living illegally in the US and hoping for amnesty should probably forget about that idea happening anytime soon. With that said I do think ironically that with a President Trump an immigration reform deal is more likely because he will try and cut a deal that is not blanket amnesty, but at the same time provides a process for foreign workers to be sponsored to work in the US. This would reduce illegal immigration across the US-Mexico border and possibly allow him to say he does not need to fully build his famous wall.
Conclusion: So those are my quick thoughts on what the election of Donald Trump means for South Korea. I think the biggest impact is that the ROK should expect to pay more for the upkeep of USFK. If not then Trump may begin relooking the US-ROK FTA which South Korea has much more to lose. Does anyone else have any other areas that they foresee that a President Trump will have a significant impact on in South Korea over the next four years? If so please share your opinions in the comments section.
