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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Representative Yuko Obuchi appeared at the Japan - Korea summit meeting *A wedge telling South Korea not to forget what she said. A meeting and dinner was held between Prime Minister Kishida and President Yun Seok-Yeol, and a press conference was held without a joint statement.
What has been decided is the resumption of shuttle diplomacy and the lifting of restrictions on three strategic items. In reality, the matter falls under the jurisdiction of the Ministry of Foreign Affairs and the Ministry of Economy, Trade and Industry, but the actual content is that the leaders met together to confirm the matter.
Regarding the lifting of restrictions on strategic substances, in reality there will be no major changes in distribution from Japan, and the 2019 restrictions will not reduce or stop exports, so nothing will actually change.
In particular, President Yun Seok-Yeol raised the issue of North Korea and showed South Korea's cooperative attitude toward Japan, but this has only confirmed that this is back on track. This is natural since the North Korea issue is being dealt with through the Japan-U.S. Security Treaty and the U.S.-South Korea Security Treaty.
At the very least, future shuttle diplomacy should ask what South Korea can do for Japan, rather than the diplomatic relations that have been the case in the past, where Japan did something unilaterally.
That's what makes for healthy diplomatic relations. I can't think of anything specific that South Korea has done for Japan. No one is looking for diplomatic relations that involve chatting at the table and asking for wads of money under the table.
The next day, the Japanese media focused on the meeting between Suga, president-elect of the Japan-Korea Parliamentary Federation, and President Yun Seok-yeoul, but what I wanted to draw attention to was the woman in the very edge of the photo.
She is Yuko Obuchi, a lawmaker, and the daughter of former Prime Minister Keizo Obuchi. The reason I wondered why she was in this seat was because I remember her not holding any government-related positions.
What really struck me was the 1998 Japan-Korea Joint Declaration. President Yun Seok-Yeol insists that Japan-Korea relations should return to the Japan-Korea Joint Declaration, but the question is how to return. And Japan complies with all of the Japan-Korea Joint Declaration. Returning would be a problem only for the Korean side.
The points of the 1998 Japan-Korea Joint Declaration are as follows.
Japan-Korea Joint DeclarationHolding of the 2002 FIFA World Cup
Promoting Japan-Korea economic cooperation
Opening of Japanese culture in Korea
Fisheries agreement around Takeshima in accordance with the new United Nations Convention on the Law of the Sea
Response to North Korea issue
The holding of the Japan-Korea World Cup and the influx of Korean Wave content all stemmed from this joint declaration.
The Japan-Korea Joint Declaration was signed by President Kim Dae-jung, but the Japan-Korea World Cup was said to be the worst tournament in FIFA history, and it became unclear whether it was an anti-Japan movement or a soccer tournament.
Less than two years later, the South Korean National Assembly passed a resolution to invalidate this joint declaration. Japanese people must not forget that the area around Takeshima was subsequently filled with Korean fishing boats again, resulting in the current state of Takeshima.
The Japanese representative who concluded this agreement was former Prime Minister Keizo Obuchi. South Korea has completely torn up not only the 1965 Agreement, but also the 1988 Agreement.
Was Representative Yuko Obuchi invited to this meeting as a symbolic icon? In other words, this seems to have driven a wedge that returning to the Japan-South Korea Joint Declaration is the goal of the talks. It's about not forgetting what I said. Does the Korean side actually understand the meaning of this? I don't think they understand.
In conclusion, returning to the Japan-Korea Joint Declaration would be a very high hurdle. This joint declaration was scrapped because of the Takeshima issue. Perhaps the Korean side only understands this declaration as a resumption of cultural exchange.
Tokyo Olympic Summit With the possibility that Suga's general election will be held in September, is Moon Jae In trying to shake up the situation by citing summit talks and participation in the Olympics?To put it bluntly, holding a summit between Japan and South Korea will only have disadvantages for Prime Minister Kan.Shigeru Ishiba, who has been considered a candidate for the next prime minister in last year's general election, was criticized by the people as a result of his appeal for reconciliation with China and South Korea.Prime Minister Suga probably does not want to get involved before the general election.
What happened to hydrogen fluoride - South Korea claims to have overcome Japan, but what is its relationship with product defects?
Moon Jae-in wants to say we won against Japan
Japanese hydrogen fluoride has fewer impurities
Relationship between hydrogen fluoride and defective rate
Massive recalls in America
Kona EV burst into flames again
Don't worry about exploding cars
In his farewell address, former President Moon Jae-in said that all people came together to overcome the crisis caused by Japan's unfair export restrictions. However, looking at the data, of the three export control items, hydrogen fluoride has decreased by 86% compared to fiscal 2018, while other items such as photoresist and fluorinated polyimide have remained almost unchanged.
Former President Moon Jae-in has loudly declared that hydrogen fluoride has been successfully domestically produced, but regarding the quality of hydrogen fluoride, it is Japan's hydrogen fluoride is 12N (99.9999999999%). There is talk that hydrogen fluoride, which is said to have been developed by Korea's LG Chem, may be 5N. ~N is the number 9, and 12N is 12×9. In other words, Japan's hydrogen fluoride has as few impurities as 12 nines in a row.
Hydrogen fluoride is used to clean machines and processes used in precision machinery manufacturing. What happens when there are many impurities here is an increase in the product defect rate. What about the defective rate of Korean products? Whether it went up or down, if there is no change, then whether it is 12N or not has little meaning.
On August 20, 2021, the US automobile giant General Motors (GM) expanded the scope of the recall due to the risk of fire in the battery pack installed in the electric vehicle (EV) “Chevrolet Bolt EV”. announcement. As a result of this announcement, all models of the Chevrolet Bolt EV released so far are subject to a recall. The battery manufacturer for this car is LG Chem.
In January 2022, another fire occurred in the Kona EV, in which Hyundai Motors had replaced the battery due to a recall after a series of battery fires. A fire broke out while the vehicle was running and was completely destroyed. According to Korean media, internet communities, and fire authorities, a fire accident occurred in a Kona EV that was traveling on Taean Road in South Chungcheong Province at around 6:46 pm on the 11th. The accident vehicle was a 2020 model, and the battery had been replaced due to a recall in September last year.
The explosion of lithium-ion batteries was a hot topic in the past when a Sumsung smartphone exploded into flames, but now that EV cars are being developed, the large batteries used to drive the car explode and burst into flames in the blink of an eye. It is unclear whether it has anything to do with hydrogen fluoride, but there is even a rumor that some Japanese-made hydrogen fluoride is being imported from China.
It would be surprising if they were going to such lengths to protect the country's face-to-face contact, but we should continue to pay close attention to defective products from South Korea.
Korea, where the government recognizes history, will not be revised even if new facts are discovered.
History is just a collection of cognition.History of the past is incorporated into history in accordance with the interpretation that it is the same with one sentence, one letter, and one word.It is impossible to prepare enough evidence in history to confirm the facts in the current trial.
History recognized as the past is corrected by newly discovered facts.It is a case in which conflicting statements are found in past views that have been found.Whenever new facts are discovered in historians' quest, historical cognition is corrected.
In Japan, new facts have been discovered and history has been reviewed one after another.U.S. military information such as Hullnotes, which triggered the start of the Pacific War, has been released one after another after the deadline for confidentiality.As a result, the U.S. military's Sea of Japan chart, which is the basis for the start of the war and the dropping of atomic bombs, and the establishment of borders in Sea of Japan after the war, has been discovered and revised.
How do you explain that the photo in the textbook, which was published as a forced work man in Korea, was found to be a Japanese working in a coal mine and canceled it?
King Gojong, for example, is said to have failed to sign the Japan-South Korea annexation treaty.What would happen if King Gojong found a new note saying he was in favor of the annexation treaty?Will Korea correct history?
If the Japanese government is to be found guilty of the Japanese Military Sexual Slavery issue, it must at least present substantiable evidence under current law.It is evidence to support when, who, how, and in what way.There is no such evidence and is sentenced only by testimony.
History is like a creature that is constantly examined, supplemented, and corrected within the bounds of academic freedom.Therefore, it is impossible for the government or the judiciary to determine history.
The "no distortion of history " and "pro-Japanese praise ban " proposed in South Korea are laws that do not change the history of Koreans being enslaved under Japanese rule and prohibit the development of the Korean Peninsula under Japanese rule.
In other words, the legislature is submitting legislation that restricts freedom of speech and suppresses academic freedom.
Historical problems are basically problems between historians.The government of that time cannot recognize history.
