Why the Samsung Strike Fails to Gain Support

Just as food spoils when a refrigerator loses power, wafers are ruined if semiconductor processes come to a halt. Wafers are the core raw material for semiconductors. The manufacturing of semiconductors begins by engraving tens of billions of circuits onto a palm-sized silicon wafer, and there are critical time windows?golden times?that must be observed between each step of the process. If these windows are missed, the wafer reacts with air and deteriorates. Once damaged, there is no way to restore it. Semiconductor equipment operates only inside clean rooms where not even a single speck of dust is allowed. If the process stops, this precise environment collapses, and even equipment worth hundreds of billions of won can be damaged. Restarting operations can take several months. This is why semiconductor factories run 24 hours a day, 365 days a year without rest. This line is now at risk of stopping. The Samsung Electronics labor union has announced a general strike for 18 days starting

2026.04.27 11:23

On the 59th Science Day... A Closer Look at the Reality of Korean Software

AI startup Upstage has secured a Series C investment worth 180 billion won, making it the first generative AI company in Korea to achieve unicorn status with a corporate valuation exceeding 1 trillion won. While this is welcome news, the fact that it is the first such case also underscores the harsh reality of the Korean software ecosystem. The majority of Korean software companies remain small-scale. According to the Korea Software Industry Association, the number of domestic software businesses is expected to reach around 60,000 in 2025, marking a 97% increase over the past decade. However, less than 1% of companies account for more than 90% of the total industry revenue, highlighting the severe structural weakness across the ecosystem. Only 3% of Korean software companies have expanded overseas. Even Hancom, a leading player in the software market, has only recently set a goal of surpassing 200 billion won in annual sales. A software company executive I met recently sighed, saying,

2026.04.21 09:09

Supplementary Budget: The Start of Another War

The 26.2 trillion won "war-related supplementary budget" is a product of an unprecedented speed-driven process. Less than two weeks after the outbreak of the Middle East war on February 28, President Lee Jaemyung ordered the supplementary budget on March 12. Just 17 days later, the draft was prepared and submitted to the National Assembly on March 31. The National Assembly also expedited its review, passing the bill in just 10 days, and the government presented and approved it at a Cabinet meeting the very next day, April 11. Execution is also a race against time. The government designated 10.5 trillion won of the total supplementary budget for rapid disbursement, aiming to inject more than 85% within the first half of the year. Over the next three months, starting this month, more than 8.9 trillion won will be pumped into the market. The high oil price relief payments alone amount to 6.1 trillion won (4.8 trillion won from the central government and 1.3 trillion won from local governm

2026.04.14 09:23

Reporters' Legwork Reduced to Free Data

Last weekend, I went backpacking to Guleopdo, an island off Incheon often called “the Galapagos of Korea.” It rained from early morning and the wind was quite strong, but fortunately, the ferry was not canceled. Upon arrival, I shouldered a 13kg backpack and hiked for about an hour along a mountain trail before reaching my campsite. The unexpectedly steep slopes, rugged rocky paths, and rain-lashed winds felt overwhelming before I unpacked. Yet, sitting in my tent, gazing at the sea with a can of beer in hand?that’s exactly why I willingly choose backpacking over the comfort of a hotel. The scene of a reporter’s work is much like this strenuous mountain trek with a heavy backpack. Reporting is inherently an endless series of uncertainties. Dozens of phone calls to sources often end with cold rejections. Even data obtained after much difficulty can lose its news value if someone else has already used it. Only after a grueling process of doubting, trimming, and cross-verifying fragments

2026.04.09 10:18

Plenty of Startups, But Little Growth

Korea is a country where starting a business is relatively easy, but surviving is difficult. Confronted with this simple yet painful reality, even as Korea positions itself as a powerhouse of ventures, we find ourselves repeating the age-old question: "Is there not enough support?" The five-year survival rate for domestic startups has long been stuck in the mid-30% range, below the average of major countries. It is difficult to assert that this figure is absolutely low, but compared to the pace at which new businesses are being launched, the number remains unimpressive. Over the past decade, the scale of government support for startups has grown dramatically, with a significant portion focused on the pre-seed and early stages. At these stages, there is relatively ample opportunity for business funding and seed investment. The problem arises after this point. Once companies begin to generate revenue and require full-scale production or global expansion?during the Series B and C rounds,

2026.03.27 08:51

Losing Well Matters in Elections Too

At the final stage of the official election campaign, there was a metropolitan mayoral candidate in the Seoul metropolitan area who chose the "72-hour campaign." This took place during the 4th nationwide local elections in 2006. For three days, the candidate embarked on an intense campaign, forgoing sleep at night. He met voters at bus stops, parks, subway stations, and in every corner of alleyways. The outcome was already tilted. At that time, the local elections saw such an extreme swing in public sentiment that candidates from certain parties in the metropolitan area suffered a near total defeat. No matter how outstanding a candidate’s abilities were, it was impossible to withstand the overwhelming tide. The candidate who chose the 72-hour campaign also lost by more than double the votes of the winner. But results are not everything in elections. The sight of a candidate running until the very end, utterly exhausted, left a profound impression in political circles. That is what it m

2026.03.24 11:00

The Historic Mission of the "Money Move" Must Succeed

Among the three factors of production, the monopoly and oligopoly of land have uniquely altered the course of history. For example, the French Revolution originated from a system in which less than 2% of the population?nobles and clergy?owned most of the land and exploited the rest. Real estate speculation is a representative form of rent-seeking behavior. Liberal economists such as Adam Smith and John Stuart Mill pointed out that rent-seeking is the enemy of capitalism, as it distorts resource allocation, creates entry barriers, and reduces social welfare. The Lee Jaemyung administration is driving a "money move" from real estate to finance. As the KOSPI has repeatedly surged and plunged around the 5,000-point level due to the U.S.-Iran war, voices have already emerged saying that "the money move will be difficult to achieve." The strong support base of the "real estate republic" is undermining the momentum of the money move. However, the money move is a historic mission that any pres

2026.03.20 11:05

In the Era of 2-Million-Won AI Phones, It's Time to Break the Mold of Telecom Bill Cuts

'Halving Communication Fees' This is a familiar slogan that reappears every election season. Assemblywoman Jeon Hyun-hee of the Democratic Party of Korea, who has announced her intention to run for Mayor of Seoul, unveiled a plan to establish a "Seoul Model 4th Mobile Carrier" led by the city. She promised to provide Seoul citizens with ultra-low-cost mobile plans at less than half the standard price. In South Korea, where household communication fees are regarded as a critical living expense that must be reduced, there is hardly anyone who would oppose lower telecom bills. However, telecom companies such as SK Telecom, KT, and LG Uplus, which have consistently faced pressure to cut communication fees every election season due to the longstanding perception that telecom bills are a major driver of inflation, likely see things differently. Among the telecom executives I have met, not a single one claimed that Korea's telecom fees are expensive. There is a rationale behind their frustr

2026.02.27 07:39

National Tax Arrears Reach 110 Trillion Won... How to Ease the Burden on Salary Earners

Every February, office workers experience mixed feelings. Some receive year-end tax refunds as a so-called "13th month bonus," while others are caught off guard by unexpected additional tax payments, feeling as though their hard-earned money is being taken away. Beyond these personal emotions, the numbers present an even starker reality. Last year, earned income tax revenue amounted to approximately 68.4 trillion won, more than double the figure from ten years ago, and its share of total national tax revenue rose from the 12% range to the 18% range. Unlike corporate tax, which fluctuates depending on business performance, earned income tax is withheld from salaries without fail, making it the government's most reliable "cash cow" source of revenue. The core principle of taxation is "a broad tax base and low tax rates." However, the reality in Korea is far from this ideal. One out of three workers (33%) pays no tax at all, while the top 12% of high-income earners shoulder 76% of all inc

2026.02.24 09:30

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