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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communist program quoting the New Deal congratulatory address for Moon Jae In 2021 Independence Day
The Korean version of the New Deal, which will invest 220 trillion won by 2025, is a roadmap for becoming an innovative and inclusive country centered on people and a development strategy for a country that will take a new leap forward. The government has made the Human New Deal another pillar of the Korean version of the New Deal, along with the Digital New Deal and Green New Deal. We will establish a social safety net, such as the abolition of employment insurance and living allowance support standards for all citizens, and lead the transition to digital and green through investment in people.
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The New Deal is interpreted as a bold intervention by the U.S. government in the market economy during the Great Depression and as a intervention to free competition to rebuild the Great Depression.And what's the Human New Deal?I mean, you're going to intervene there, too.
In his congratulatory speech last year, he said, "The Korean version of the New Deal is a new social contract for co-prosperity, a promise to strengthen employment and social safety nets, increase investment in people, and achieve prosperity and co-prosperity."What is a nation centered on people? Have Korea always been centered on dogs or cats?What's the investment in people? Wasting money is not the investment, is it?
What Moon Jae In is doing is simply government intervention to move toward communism.
The number of malfunctions of the South Korean Air Force's F-35A fighter jets is 234, and 172 are unflyable - Expensive fighter jets are also useless. From last year, when the South Korean Air Force's most advanced fighter jet, the F-35A, began regular operations, to the first half of this year, it was judged to be in a condition not capable of flight (G-NORS) or not capable of carrying out specific missions (F-NORS) a total of 234 times. It was reported that this was found out. The breakdown is 172 G-NORS and 62 F-NORS.
F-35As affected by G-NORS were unable to perform missions for an average of 12 days last year and 11 days in the first half of this year. F-35As affected by F-NORS were restricted from performing missions for an average of 129 days last year and an average of 24 days in the first half of this year. The reason for the failure is that some problems occurred in procurement of repair accessories, and the manufacturer did not promptly procure repair accessories. In other words, the company is being investigated for being skimpy in procuring repair accessories.
The F-35A is a fifth-generation stealth fighter with a maximum speed of Mach 1.6 and a combat radius of 1,93 km, making it one of North Korea's most feared weapons, but is it practical if it has so many breakdowns? There are question marks attached to this situation.
The biggest problem is that Korea does not have the know-how to repair the F-35.The only base in Asia that can repair the F-35 is the Mitsubishi Heavy Industries factory in Aichi Prefecture, Japan. Mitsubishi Heavy Industries is a company designated as a war criminal by South Korea. I wonder if it would be difficult to repair it in Japan within Korea, or maybe I would have to take it to America.
Or will they secretly bring it to Japan? Speaking of which, Japan is currently developing the F-3 fighter jet, which is also being developed by Mitsubishi Heavy Industries. It would be impossible to purchase fighter jets from a war criminal company.
Japan will significantly increase its defense budget and advance military research. Since we do not have an alliance with South Korea, we must refrain from selling weapons to South Korea.
The difference between Japan and South Korea in terms of the friendship that Oh Sun - hwa talks about.If you're a friend, give it to me.This is the Korean style.
Wu Shanhua, a professor at Takushoku University's School of International Studies, said that when she first came to Japan to study, she struggled because she couldn't understand Japanese culture. She says that in South Korea, the culture is that you shouldn't differentiate between your friend's things and your own things.
During class, I open my friend's pencil case, use it, and then put it back. They end up using not only stationery, but also things in their bags, sweets, food, and even money if they are left on the table. It seems that the person being used is happy and thinks that the person who is being used thinks of them as a friend.
Of course, Japan does not have such a culture. No matter how much time passes, my friend asked Wu Shanhua at the time, ``I forgot her pen, can you lend it to me?'' When I get it back, I always say thank you. No matter how much time passes, Wu Shanhua will not accept her as a friend. Apparently, there was a time when she worried that they wouldn't accept her because she was a foreigner.
She believed that sharing your things with others was a sign of friendship, so her sensibilities seemed to be completely different from those in Japan.
Another Korean who came to Japan and returned to Korea after two and a half years after having such an experience apparently published a book about Japanese culture in Korea. His anti-Japanese book, which describes Japan as a country of crazy people, has sold 3 million copies and has become a model that is often cited by Japanese culture researchers at universities and other institutions. That's it.
What is your friend's property is yours. This is regardless of the size of the amount. They say that even if it's a large amount of money, you can only be a friend if you pay to help. As a result, the custom of filing lawsuits has become commonplace in recent years, making South Korea a fraud country. Furthermore, it is unclear how far the money was taken from him as a friend, and where the fraud began. In other words, it is not returned while being shared. This has become the norm, but in light of the law, it appears to have resulted in a series of fraudulent acts.
With this in mind, Wu Shanhua says she is also knowledgeable about diplomatic issues. Koreans think that since Japan is an economically developed country, it is natural to provide money for free. I don't use the word "thank you" at this time, and since Japan has many islands, I wonder if it's a friend to make a fuss about just one island. Wouldn't it be possible to have a friendly relationship if Japan gave as much as Shikoku to South Korea? In fact, she explains, there is at least an underlying feeling.
The differences between Japan and South Korea, which include the actual experiences of Ms. Oh Sunhwa, who actually lives in Japan, are surprising, but if you refer to them, you will be able to see some things.
Yoon Seok - yeol wins the 20th presidential election...with a narrow margin of 1 percentage point.
Yoon Seok-yeol of the opposition party won the 20th presidential election by a narrow margin of 1 percent.Conservative parties have taken back the chair where pro-China and pro-North Korean left-wing presidents sat for five years.Yoon strongly criticized the Moon Jae In administration's policies and is eager to improve relations with Japan by taking a pro-U.S. stance.However, there are many concerns.
The future of the Korean economy, which relies heavily on the Chinese economy, is uncertain because the Democratic Party won about 60% of the seats in the 2020 general elections and Yoon Seok-yeol mentioned the deployment of THAAD.And even if Japan is eager to improve relations, it is based on Japan's apology and compensation, and in fact, it is drawing a starting line in the same place as the Moon Jae In administration.
The Japanese government is expected to remain parallel for a while because it is difficult to change its position that it has already been resolved through the Japan-South Korea Claim Agreement and the Japanese Military Sexual Slavery Agreement.However, the anti-Japanese movement is expected to subside as Korea's anti-Japanese sentiment is limited to Japanese Military Sexual Slavery and recruitment issues, but the Japanese government is expected to use U.S. power to demand an apology from Japan.
The election results are close to 1%, so regions with significant results are:
North Gyeongsang Province: 72.83% for Yoon Seok-yeol, 23.73% for Lee Jae-myeong
North Jeolla Province: 83.05% for Lee Jae-myeong, 14.36% for Yoon Seok-yeol
South Jeolla Province: Lee Jae-myeong 86.22%, Yoon Seok-yeol 11.34%
Gwangju Metropolitan City: Lee Jae-myeong 85%, Yoon Seok-yeol 12.56%
The difference is between 5% and 20% at most, regardless of which of the four regions is dominant.In any case, Lee Jae-myung's approval rating is close to 1 percent depending on the Honam region.Lee Jae-myung won only in Gyeonggi Province, Sejong Special Self-Governing Province, and Jeju Special Self-Governing Province.I heard that Moon Jae In also became president with the support of the Honam region.This is an enthusiastic pro-China anti-Japanese area, and this is probably the central area where they want to sell their seafood by inciting harmful rumors of Fukushima Prefecture seafood and criticizing Fukushima treated water.
First of all, it's a good thing that a conservative president takes office as a choice for better one, but Japan needs to calmly identify the other person.
