Korea Real Estate Bubble
2021-07-04
Category:South Korea
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This is the KOSPI chart.Why does it go up when investment from Japan has decreased by 50% and investment from the United States and the EU has decreased?You'd better imagine who's buying stocks.One is Chinese money. This is exactly what the current administration wants.Another is stock investment, which is secured by soaring real estate prices.Another is private investment by ordinary people who cannot buy real estate, even if they borrow money from rising stocks.In other words, it is a bubble.The IMF warned that Korea's household debt is above the danger level.Judging that this is a temporary phenomenon, it is better to stop borrowing money and investing in real estate and stocks to increase assets.
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South Korean Foreign Minister Park Jin strives to resolve the forced labor and comfort women issue - What does the Korean economy, where the won continues to be weak, demand from Japan?
South Korean Ministry of Foreign Affairs is extremely knowledgeable
South Korea is keen on repairing Japan-Korea relations
Korea's diplomatic techniques that you can't let your guard down
True feelings about getting close to Japan
Excited about swapping
To what extent will the Japan-Korea issue be resolved
Clarify what relationship improvement means
Special treatment is over
South Korean Foreign Minister Park, who is visiting Japan, emphasized that regarding the issue of labor recruitment lawsuits, ``We are making efforts within South Korea to find a desirable solution before cashing out,'' and added, ``The Japanese side also responded with a sincere response.'' I would appreciate it if you could give me that."
Mr. Nukaga, who met with him after the meeting, told reporters that he "intended to respect" the 2015 comfort women agreement that confirmed the "final and irreversible resolution" of the comfort women issue. I made it.
The current Yun Seok-Yue administration appears to be eager to repair relations with Japan. Before he took office as president, he sent a delegation of members of Congress to express his sincerity, and after taking office, the Minister of Foreign Affairs has shown an attitude of fully accepting the intentions of the Japanese side. But don't let your guard down.
The South Korean government's approach so far has been to extract some kind of concession from Japan, take it as a diplomatic credit, and then try to make a temporary move, and the pattern is to come back to it again and again.
Japan should negotiate without losing its stance that there is nothing Japan can do. In reality, the issue of post-war compensation has already been resolved in all agreements between Japan and South Korea.
The Korean won continues to be at a low price with no signs of rising. Due to the impact of interest rate hikes and the Bank of Korea trying to recover the won spent during the coronavirus pandemic, corporate investment will slow down. Since the won is not depreciating as sharply as before, it seems that the price is not falling off a cliff and is managing to cope even with the price dropping to around 1,300 won.
The US Federal Reserve has also begun withdrawing dollars from the market and raising interest rates. The Korean government wants to carry out another swap and looks at the American expression, but its expression remains firm. That's why it's Japan. I would like to somehow conclude a swap with the key currency to provide peace of mind.
Although South Korea has experienced economic growth, its industrial structure is a chaebol economy that generates profits through processing trade through bulk purchases and bulk sales, so domestic demand never grows, and it is greatly affected by exchange rate fluctuations. The national debt is increasing, household debt has exceeded GDP, and land prices in Seoul continue to soar, making it difficult to see when they will rebound. There is nothing wrong with the fact that Won is vulnerable.
The Japan-Korea issue is not just about the forced labor issue or the comfort women issue. In addition to the Takeshima issue, South Korea has broken all of the agreements that Japan and South Korea have concluded to date. The Japan-Korea joint declaration was left blank. The issue of excluding countries from the White List stems from concerns about the transfer of funds to North Korea and third countries.
Just because the issue of forced labor, which is about to be turned into cash, and the issue of comfort women, where statues of comfort women are being erected all over the world, are recent issues, it is normalization because these two issues have been resolved. Would you? In the first place, when South Korea refers to normalization, it means that they want to go back to the days when they were given special treatment.
Why did South Korea become a white country? Why did Japan do swaps during two economic collapses? This is only because Korea was given special treatment. It should be made clear that there will never again be a time when relations are treated as special even though they have been normalized.
Masatoshi Muto, a former diplomat, says that making concessions to South Korea is a mistake and that South Korea needs a firm response.
Masatoshi Muto on his dealings with South Korea during his time as a diplomat. He says that he made a mistake by listening to everything and requesting as much as possible.
When asked about the anti-Japanese movement taking place in South Korea, Taro Aso, during his time as Prime Minister, asked, ``Does that have something to do with it?'' Japanese people don't care. As a result, the term ``virtual enemy country'' became popular. The view was that South Korea was conducting an anti-Japanese movement due to domestic circumstances.
There is no doubt that South Korea's current enemy is primarily North Korea. The Korean War is not over yet, and there is currently a ceasefire. When we see public opinion in South Korea calling Japan an enemy country while facing each other across the 38th parallel, we can't help but wonder to what extent South Korea is escaping reality.
When considered within the same framework, China is on the side of South Korea's enemy in the Korean War frame. Until now, the South Korean government has not been able to resolve security issues, and has abandoned its military and continued to focus on Japan, which has not fought back, because if it expressed hostility toward North Korea, China, or the United States, it would immediately take retaliatory measures. It's here. This is to gain the public's attention by saying something powerful. In doing so, it is easy to use stories from the past annexation era. Japan understands this environment and has tacitly tolerated South Korea's anti-Japanese movements.
What we need to clarify is that all of these environments are always real problems for South Korea. It seems that as long as Koreans remain anti-Japanese, they can temporarily feel as if their problems are gone. Even now, when the anti-Japan flag goes up, I forget everything due to a spinal reflex.
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?
Japan - South Korea relations, in which historical issues arise.Korea is rejecting Japan, which is becoming a historical issue.
What is the Japan-South Korea issue?It's a historical issue.This is a historical issue 77 years ago.The Japanese government established a joint research committee on Japan-South Korea history to make it a historical issue, not a political one, but South Korea rejected it halfway.So what will happen if Japan-South Korea relations are segregated before and after World War II?Japan and South Korea established diplomatic relations in 1965, and there was no public cultural exchange until the Japan-South Korea Joint Declaration in 1998.Japan-South Korea relations ignore the 1965 agreement, the Japan-South Korea Joint Declaration, and various other promises made by Japan and South Korea, and continue to deal with historical issues more than 77 years ago, regardless of culture or economy.
I don't know why Korea, which continues to cry out for historical issues, refuses to accept the Japanese government's attempt to turn it into a historical issue into a historical issue.Korean politicians often use the term "two-track strategy," but it is only a false diplomacy from the perspective of Japan.Japan has already proposed a two-track strategy.It is not the idea of using what is available, but simply separating historical and political issues.
The Japan-South Korea Joint Research Committee on History, which was established under the Koizumi administration, is currently not active at all.How will this solve the historical problem?
minimum wage In Korea, the minimum wage has increased by 35% in four years...
Apartment prices in Seoul have risen 93 percent over the past four years...
If the minimum wage is 8,720 won, is it 6,459 won four years ago?The increase in the minimum wage increases the number of self-employed businesses closing.Decrease in employment...
Usually, Increasing jobs come first.Wouldn't the minimum wage go up for companies to secure employment if the effective recruitment ratio goes up?I can't believe going to raise the minimum wage first.You're a fool.
Japan's minimum wage varies from prefecture to prefecture.Of course, if the minimum wage is raised, the government will carefully observe the price index and economic conditions of each region.It is unthinkable to raise the price by 35 percent across the board.