Tag: South Korea

It will be interesting to see if the opening of relations with Cuba will open increased trade with South Korea from the island nation:

South Korea established diplomatic relations with Cuba on Wednesday, its mission to the United Nations said, in a surprise announcement that could pose a setback to North Korea that has long boasted brotherly ties with the Latin American country.

In New York, the two countries’ representatives to the United Nations exchanged diplomatic notes marking the establishment of the formal ties. Cuba is the 193rd country which South Korea has built diplomatic relations with.

Yonhap

You can read more at the link.

People must have a lot of money to waste to spend up $1,800 over the current asking price for the Vision Pro just to get it earlier than when it is officially released in South Korea:

A customer uses Apple’s Vision Pro headset at the Apple Fifth Avenue store in Manhattan in New York City, U.S., February 2, 2024. [REUTERS/YONHAP]

Apple’s Vision Pro is being sold at a premium of as much as 2.4 million won ($1,800) in Korea as the new wearable is not officially available in the country. 
  
Some are even paying to experience the device for a couple of hours.

Apple’s MR (mixed reality) headset, the Vision Pro, launched in the United States on Feb. 1 to better-than-expected popularity despite a hefty price tag of $3,500 for the cheapest 256-gigabyte storage option. An estimated 180,000 units or more have been sold, selling out the pre-order quantity.

Major secondhand marketplaces in Korea have dozens of posts reselling the device at an inflated price. Mostly purchased in the U.S., these devices are listed with a price 1 million won to 2 million won over the official price tag.

Joong Ang Ilbo

You can read more at the link, but has any ROK Heads try this headset out yet? Is it anywhere near being worth the price currently listed for it?

Is this a good thing or a bad thing that South Korea has so many Starbucks stores?:

 South Korea held the fourth-largest number of Starbucks stores around the globe as of last year, data showed Monday, driven by solid demand from local consumers.

South Korea held 1,893 Starbucks stores as of 2023, up 116 from a year earlier, according to the data compiled by the U.S. coffee giant.

The figure falls just behind Japan’s count at 1,901, despite the Asian neighbor having a population twice the size of South Korea’s.

The Seattle-based coffee giant introduced its first store in Seoul in 1999 in partnership with Shinsegae Group, a Korean retail group.

Yonhap

You can read more at the link.

With the high cost of living being a digital nomad in South Korea may not be as appealing as in other more affordable countries. Additionally this visa is not open to freelancers which most digital nomads normally are:

About a month has passed since the highly-anticipated workcation visa for digital nomads was launched, but the visa is off to a slow start. 
  
Just seven people applied for the visa as of Jan. 31, according to the Ministry of Justice.  

The workcation visa, or the F-1-D, was introduced in a trial run on Jan. 1 for foreigners to work remotely in Korea over a longer period. Applicants must be employed at a company abroad, working remotely for their company. Applying for a job within Korea is strictly prohibited.  
  
The visa allows a one-year stay, which can be extended for another year for a total two-year stay. Without a visa, many foreigners can only stay in Korea for up to 90 days. 
  
One obstacle is that the visa isn’t currently open to freelancers, who make up a large portion of the digital nomad population.

Joong Ang Ilbo

You can read more at the link.

Two former Park Geun-hye administration officials have received pardons from President Yoon after they had already completed their jail sentences. However these pardons will allow them to run for public office again:

This combination of file photos shows Kim Kwan-jin, left, former defense minister, and Kim Ki-choon, former presidential chief of staff. The two officials, who served in key positions during the Park Geun-hye administration, have been included on the special pardon list on the occasion of the Lunar New Year, the Ministry of Justice said on Tuesday.

Former Defense Minister Kim Kwan-jin and former presidential chief of staff Kim Ki-choon ― both of whom served under former President Park Geun-hye before her impeachment ― have been included on a special pardon list, the Ministry of Justice said on Tuesday.

The two were among the 450,000 people expected to be granted pardons and regain rights, including the right to run for public office, by President Yoon Suk Yeol on the occasion of the Lunar New Year.

Kim Kwan-jin, 74, who served as defense minister and national security adviser under Park, was convicted in 2019 of meddling in politics by ordering the military cyber command to post online comments to sway public opinion in favor of conservative politicians.

He is currently serving as vice chairman of the presidential defense innovation committee.

Kim Ki-choon, 84, who served as chief of staff to Park between August 2013 and February 2015, was found guilty in 2017 of playing his role in creating a blacklist of artists critical of the administration.

Korea Times

You can read more at the link.

South Korea has found another customer for their growing defense industry:

During the talks held on the sidelines of the World Defense Show, the two sides discussed ways to strengthen bilateral cooperation in defense and the arms industry, the ministry said. 

On the margins the defense exhibition, South Korea’s Defense Acquisition Program Administration (DAPA) and Saudi defense ministry signed a memorandum of understanding (MOU) to pave the way for cooperation in the defense industry and joint weapons development. 

Under the MOU, the two sides will launch a bilateral committee to jointly conduct research and development of weapons systems for continued cooperation in the defense industry, DAPA said.

Yonhap via a reader tip

Besides this MOU the ROK also secured a deal to sell missile interceptors to Saudi Arabia as well:

South Korean defense firm LIG Nex1 has clinched a US$3.2 billion deal to export mid-range surface-air-to missiles (M-SAM II) to Saudi Arabia, Seoul’s defense ministry said Tuesday.

LIG Nex1 inked the contract with the Saudi defense ministry to sell Cheongung M-SAM II in November, the ministry said.

It marks LIG Nex1’s second overseas sales of Cheongung-II following a deal with the United Arab Emirates (UAE) in January 2022.

Yonhap

You can read more at the link.

South Korea is already working on a “diplomatic buffer zone” with the early renegotiation of the USFK upkeep in case Trump does get elected:

With Donald Trump cruising to a rematch with United States President Joe Biden in the presidential election in November, the world, including South Korea, is preparing for a possible second Trump presidency, which is anticipated to force many countries to recalibrate their diplomatic strategies.

Throughout last year, the Yoon Suk Yeol administration has concentrated on strengthening its alliance with the U.S. to an unprecedented level, aligning South Korea’s diplomatic stance with its traditional ally on most issues, including sensitive ones such as the war between Ukraine and Russia.

Experts said, however, that South Korea this year will have to focus on securing a “diplomatic buffer zone” to prepare for a possible second Trump presidency, which is expected to force Seoul to shoulder a greater amount of the cost of maintaining U.S. Forces Korea’s (USFK) presence on the peninsula and make greater efforts for containing China. The speculation that Trump may condone North Korea’s possession of nuclear weapons is also a concern for Seoul, which has been striving to stymie Pyongyang’s nuclear ambitions through U.S. extended deterrence.

“In terms of the relations with the U.S., the top agenda item that South Korea should focus on this year would be creating a diplomatic buffer zone for requests that Washington may make under a possible second Trump presidency in 2025,” said Lee Geun, professor of international politics at Seoul National University’s (SNU) Graduate School of International Studies.

Korea Times

You can read more at the link.

It will be interesting to see how this safety law is enforced because you can have good safety practices and sometime things just happen:

An employee makes dough at a bakery in Seoul on Friday, one day before expanded implementation of the Serious Accidents Punishment Act, a workplace safety law aimed at penalizing employers for serious industrial accidents, takes effect as scheduled. (Yonhap)

Expanded application of the workplace safety law is expected to have a substantial impact on the South Korean business community, as it holds employers with more than five workers legally responsible for deadly accidents. Concerns are growing as this change, which officially took effect Saturday, will cover 837,000 workplaces, including small neighborhood restaurants, bakeries, pubs, cafes and mom-and-pop stores.

Regardless of the size of the businesses and their financial capabilities, under the law, employers of small and large companies face the same criminal charges if a deadly accident happens during their operations.

“I am paying more attention to safety as the workplace safety law is expanded. But I am very concerned that if an accident occurs, the business will be forced to close,” said a business owner surnamed Kim, who has been running a timber company in North Chungcheong Province for 30 years. His company has 20 employees.

The food service industry argues that safety support should be provided before punishment is pursued.

“Many restaurant business owners are anxious because they think guidelines on the scope of responsibility are unclear. They are also worried since even with good safety training, accidents can always occur due to employee negligence. Some business owners are expected to reduce the number of employees they have hired for a long time to avoid the application of the law,” an official from the Korea Food Service Industry Association said.

Korea Herald

You can read more at the link.