The exchange won rate has not stopped falling.The No Japan movement is a campaign to buy domestic products.Nothing will change under the chaebol economy.
2022-02-08
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South Korean Industrial structure vulnerable to exchange rate fluctuations
South Korea's trade dependence on GDP is more than ７０ percent, including the service sector.In other words, domestic demand is low and foreign exchange is directly affected.Even if foreign demand is received, it does not circulate at home and flows abroad.If the person who made the purchase contract increases the dollar by ５% at the time of payment, the payment will increase by ５%.The won-dollar exchange rate is １,２００ won, but it has been hovering around １,２００ won in recent days.
Default due to bulk purchases
In order to maintain international competitiveness, chaebol companies such as SAMSUNG buy parts in bulk and produce them in bulk to reduce costs and sell them at low prices.In this case, large debts are always carried out and large payments are repeated, and problems arise when the value of the currency changes significantly during that period.This is the so-called default.Under these circumstances, the won's international credit rating has not increased, and South Korean companies can trade in dollars depending on the L/C of Japanese commercial banks.
South Korea experienced two foreign exchange crises in １９９７ and ２００８.No country will experience two foreign exchange crises in １０ years.In other words, South Korea's industrial form is vulnerable, and in short, it is trading beyond its currency capabilities.
Considering what Moon Jae In wants to do, the real intention is to socialize, control the currency, and stabilize the value of the won.Do you think the boycott is a campaign to buy domestic goods if it is reversed?
MEMO South Korea is listed by the FRB as a currency manipulator.
Only chaebol companies can grow
The reason why domestic demand is not expanding is the existence of chaebol companies.The role of chaebol companies in driving the Korean economy is important, but on the other hand, investment in chaebol companies is concentrated and other industries are not growing.In addition to the businesses run by chaebol companies, how can Korean companies grow globally?It can only be done with its own money without investment.
The boycott Japan fundamentally solves nothing
This structure will not change even if there is a boycott Japan.As a currency manipulator, even if it leaves the liberal economy, it will not change.It is necessary for the government to take the lead in fostering domestic demand and to attract investment in what industries to foster domestic small and medium-sized enterprises.The boycott Japan does not mean that South Korean domestic companies' sales will increase.
POINT Moon Jae In's term of office is less than three months, and criticism from his country seems to be gathering.I think it's quite late from Japan view.
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Some countries are saddened by the sad news about former Prime Minister Abe, while others are happy - as expected, South Korea was the only democratic country to be happy.
Condolences received from various countries
South Korea welcomes people while twisting logic
Results opposite to Korea's expectations
Is your country's character different from that country?
Improving relations seems far off
In response to the sad news about former Prime Minister Abe, condolences have been pouring in from heads of state around the world, with many comments from democratic countries in particular saying that the world has lost a great leader. Mr. Trump, who was a close friend of Mr. Trump, immediately sent an extraordinary message of regret. However, there are countries that are completely different even if they are democracies. As you can imagine, it's South Korea.
Some South Korean articles say that with the death of former Prime Minister Abe, Japan's right-wing forces have lost their unifying force, and that members of parliament seeking to improve Japan-Korea relations have gained relative strength, leading to Prime Minister Kishida becoming a This means that they will be able to exercise their options. What on earth does this mean? It seems like they want to say that this is a good sign for improving relations with Japan.
There is no doubt that Mr. Abe was the spiritual pillar of Japan's right-wing movement. But the problem comes after that. After receiving the sad news about Abe, the members of the Diet who have close ties to him have regained their composure and strengthened their resolve to carry on Abe's will. This is clear from the statements made by these legislators and on Twitter. Rep. Rui Matsukawa and others have clearly expressed their feelings and made strong statements even at press conferences after securing victory.
In other words, with the death of former Prime Minister Abe, Mr. Abe's resolve has become firmer in his long-awaited efforts to revise the constitution and break away from the post-war regime in order to restore Japan's prestige. In other words, the current situation is completely opposite to that country's irritating predictions.
Japanese people don't have the emotions that most people in Korea usually expect. Even if people and towns are swept away by the tsunami, reconstruction begins the next day. Korea must have been very happy at this time as well. In response to this sad news about Mr. Abe, there is a completely distorted and eerie feeling that is visible as if people are welcoming Mr. Abe's death while calling for improved relations with Japan.
As long as we keep saying things like that, there will be no improvement in relations between Japan and South Korea. When will they be able to see events in a normal way? Will such a day ever come? The future is beyond imagination.
Yun Seok - yue's manifesto aims to attract and circulate capital through a free economy.Will the National Assembly become a burden that hinders this?
South Korea is wavering between pro-China and pro-US
Original regime change through social policy
A country that thinks about what is better
Yin Seok-yue promotes free economy
Promoting free competition within the country and moving towards CPTPP
Legal development by the Diet is hopeless
Is South Korea wondering whether it should join China, which has achieved growth in recent years, or join the camp of free nations such as Japan, the United States, and Europe? I guess it's a question of which is better, but it seems like a very polarizing choice.
The Moon Jae-in administration completely abandoned its pride as a democratic country without hesitation and spent five years desperately trying to join China and North Korea, a country that violates human rights at its worst, but unfortunately there was no result. Ta.
The new president, Yun Seok-Yeol, has the exact opposite policy, aiming for Korea to be a member of the Japan-U.S. and liberal camp. This seems to be the composition of the right-wing and left-wing forces in South Korea.
The left tends to seek the enhancement of social institutions, while the right tends to seek free competition and liberal democracy. This is a question of the balance between social welfare and liberal economics, and a debate about competition versus distribution. This is an issue to be debated within a democratic country, and can be said to be a universal frame.
America's two-party system is very easy to understand. Republicans and Democrats can be broadly divided on the question of whether taxes should be primarily used for public welfare, or whether they should reduce taxes in the first place and increase competitiveness in a free economy. It is also expressed in the framework of big government and small government.
The choice of domestic social policy is not a question of which country will benefit you by following, but rather a matter of foreign policy. Prior to Japan's annexation of South Korea, there was intense conflict between pro-Russian and pro-Japanese factions on the Korean peninsula. Is nothing different from that era? Another characteristic of South Korea is that its foreign policy is also its domestic policy.
Looking at Yun Seok-Yue's manifesto from the perspective of economic policy, his economic policy is to bring back the capital that fled South Korea under the Moon Jae-in administration.
In particular, the focus is not on where to focus investment and foster industry, but rather the policy appears to be aimed at attracting investors by abolishing regulations and promoting a free economy and free competition.
It appears that the plan is to aim to join the CPTPP and other liberal nation frameworks based on this liberal economic frame, but in order to realize this, it will be necessary to obstruct the various free competitions that exist within Korea. Legislation must be put in place to abolish the regulations that apply.
This is the job of the National Diet, the legislative branch, but the opposition Democratic Party of Japan still holds nearly 60% of the seats. In other words, there are many hurdles for the time being in the economic policy advocated by Yun Seok-Yeol and cooperation with liberal countries. In other words, we will have to wait for the 2024 general election.
The people's trial that began in the wake of the Itaewon accident - The horror of a country where all citizens think they are jurors
Is President Yoon responsible for the Itaewon accident?
A surprising public opinion poll
The police have administrative jurisdiction and are under the jurisdiction of the prefectural police
Is the president in charge of Halloween?
It appears that a candlelight demonstration was held in Itaewon, Seoul on Halloween in the name of commemorating the victims. South Korea is apparently the country of demonstrations, but organizers said ``50,000 people gathered.'' Police estimate the number of participants to be 9,000. The purpose seems to be to hold the current President Yoon's administration responsible for the Itaewon accident and demand his resignation.
A public opinion poll was conducted, and found that the government was responsible for the Itaewon disaster.73.1% said it was responsible, 23.3% said it was not responsible, and 53% said it was extremely responsible. Considering whether the decision should be based on public opinion polls in the first place, I wonder if South Korea's famous all-citizen jury trial system has started again. In the first place, it must be said that he is in a state of cessation of thinking, meaning that he does not have the composure to analyze the responsibility and causes of the problem.
Japan's police force is handled by the National Police Agency, which has administrative jurisdiction. The National Police Agency will be positioned as a special organization within the Public Safety Commission, which is an external bureau of the Cabinet. Rather than directing and supervising the National Police Agency on individual cases, the Public Safety Commission sets general policies and supervises whether they are being operated appropriately.
As it is an administrative organ, the main body of work lies with local governments, and prefectural police are responsible for accidents and incidents that occur under their jurisdiction. Hyogo Prefectural Police was held responsible for the Akashi fireworks display accident, and Nara Prefectural Police was held responsible for Abe's assassination.
They seem to be claiming that the president is responsible for the Itaewon accident, but that is not the case at all under Japanese law. What about Korean law? Normally, responsibility should be assumed by the person in charge, but does this mean that President Yoon should grasp the details of the security system and issue instructions regarding Halloween security? Or should we have decided by presidential order that this is how we should enjoy the Halloween festival?
[Korea] The mystery of Han Dong-hoon, chairman of the emergency response committee, who was supposed to have resigned, becoming party leader
This person is Han Dong-hoon, who is currently the leader of the ruling party of South Korea, the People Power Party. After the People Power Party lost the general election in April this year, he resigned from his position as emergency response committee chairman, but later ran for the party's leadership election on July 23rd and became its leader. Before the election, some Seoul city council members belonging to the party proposed to "repeal the ordinance that restricts the use of symbols of Japanese imperialism such as the Rising Sun Flag in public places," and in response to the party's declaration that it "strongly opposes the repeal of the ordinance," Han said that he would take strict disciplinary action, and the city council members withdrew the ordinance in just one day.
Han Dong-hoon said, "The use of symbols of Japanese imperialism in public places is absolutely unacceptable. The city council members who proposed the repeal of the ordinance will be investigated by the party and will take strict measures." And before the general election, a conflict arose between him and the First Lady over their differences in views, and the Blue House asked him to resign from his position as an emergency response committee member. Does this person's becoming the party leader mean that the balance of power within the ruling party, the People's Power Party, is changing dramatically?
First of all, this person seems to be claiming that they cannot win the election unless they incorporate the left-wing forces in South Korea, and by left-wing forces, they mean so-called anti-Japanese forces. In other words, comfort women groups and groups that support the forced labor issue. The People's Power Party has followed a pro-American and pro-Japanese path, but in the end, it seems that they are shifting the blame for their major election defeat to that.
The background to this is that these anti-Japanese groups worked together with the right wing, and the Korean right wing was a party with strong anti-Japanese tendencies, but the comfort women agreement was concluded during the Park Geun-hye administration, and the text of this agreement called for the establishment of a new foundation to resolve the comfort women issue, meaning that the previous comfort women group, the Korean Council for Justice and Remembrance for the Issues of Military Sexual Slavery by Japan, now the Korean Council for Justice and Remembrance for the Issues of Military Sexual Slavery by Japan, would lose their position completely, and the Moon Jae-in administration incorporated this.
This is how the left wing became an anti-Japanese party. Moreover, it became an even more extreme left wing party than ever before, and instigated the No Japan movement.
Catch - all regulation and its contents Even though South Korea was a white country, I could not understand its meaning.
The Wassenaar Arrangement is an international agreement regarding the export control of conventional weapons, with which 42 countries, including Japan and South Korea, have concluded an agreement. Based on this premise, Japan will introduce catch-all regulations, and will notify the Minister of Economy, Trade and Industry and receive permission when exporting cargo or providing technology that may be used for the development of weapons of mass destruction or conventional weapons. I made it mandatory.
Group A: 26 countries (white countries) Group B: 6 countries (including South Korea) Group C: countries that do not fall under A, B, or D Group D: countries under the UN arms embargo ・Countries of concern designated by regions and exporting countries
The above framework is determined at the discretion of the exporting country from the standpoint of national security. For this reason, Japan is constantly calling for a "review of export control operations." South Korea claims that Japan imposed export controls this time, but Japan has simply reviewed its operations, and as long as the prescribed procedures are followed, exports will continue as before. It's been two years and I still don't understand this. On the other hand, if we were a white country without understanding this basic thing, it would be even more frightening. Do they think they were put in Group D? Group D is currently subject to export restrictions from Japan.
Group D consists of 11 countries, including Afghanistan, Central Africa, Democratic Republic of the Congo, Iraq, Lebanon, Libya, North Korea, Somalia, South Sudan, Sudan, and Iran, a country of concern.
