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
Category:South Korea
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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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[related article]
South Korea's Next Presidential Candidate "I Love the Japanese People" and Continuous Anti - Japanese Remarks.
Lee Jae-myung, a candidate running for South Korea's next presidential election, said on November 25th, ``I love the Japanese people and respect their civility,'' and added, ``Japan invaded South Korea and attacked dozens of people. "He has a history of dominating and expropriating Korea for many years." "He is still dreaming of becoming a military power and is provoking that Dokdo, which South Korea effectively controls, is his own territory. He is also clear about historical issues. It doesn't seem like he is sincerely remorseful, so of course I'm worried."
Lee Jae-myung, an anti-Japanese force who said he loves the Japanese people. What followed was a series of incoherent statements.
First of all, he does not seem to understand the root of the current problems in Japan-Korea relations. This is not a historical issue from the beginning. The problem is that South Korea was taking advantage of its position as a friendly country and taking advantage of its position as a white country to divert strategic materials imported from Japan that require strict control to third countries. .
Then there is the issue of the state of the abrogation of the claims agreement, which is the basis of Japan-South Korea diplomatic relations, by reviving individual claims and issuing compensation orders to the Japanese government and Japanese companies in domestic courts. Without understanding that this is not a problem of the past but an ongoing one, saying that we love the Japanese people will not improve Japan-Korea relations.
The five years of Moon Jae-in created an irreparable rift in Japan-Korea relations. Do they think that if the anti-Japanese mood as a national sentiment subsides, things will be manageable on the surface? Japan has given up on relations with South Korea due to anti-Japanese activities since Moon Jae-in took office, and has continued to build relations with other neighboring countries.
Commitments and work with his new partner are occurring one after another. If you don't fully understand these things, you'll just think it's a childish and shallow idea.
Japan has been putting up with South Korea for many years, but since it was excluded from the white list, it has created partners other than South Korea. Will South Korea ever return to being our most important neighbor?
Yoon Seok - yeol (41.4%), [KSOI Korea]Lee Jae - myung (36.2%), and Lee Seok - yeol (41.4%), respectively. According to a survey of 1,004 adult voters nationwide from June 14 to 15, 41.4 percent of Yoon, 36.2 percent of Lee and 9.6 percent of Ahn.Yoon's approval rating rose 6.2 percentage points from Jeonju, while Jung's approval rating dropped 5.5 percentage points from 15.1 percent.Lee also lost 1.4 percentage points.Sim Sang Jung Justice Party candidate Kim Dong-young and Shinbo candidate Kim Dong-young received 3.6 percent and 0.9 percent respectively.
The approval rating gap between Lee and Yoon is 5.2 percentage points, but Yoon's approval rating has recovered to 40 percent in five weeks.Yoon also recorded 44.6 percent in Seoul, ahead of Lee (35.5 percent).
In the survey, 24 percent of respondents said they were progressive, the lowest percentage since February last year.Conservative tendencies were 34.8 percent, middle-income groups 24.9 percent, and unknown groups 6.3 percent.Regarding the nature of the next presidential election, 50.3 percent of the respondents chose "regime trial" and 36.5 percent chose "regime re-creation."Regarding the influence of television discussions on candidates, 60.8 percent said they would have an impact, while 35.4 percent said they would not.The survey was conducted using ARS (Automatic Response System) using mobile phone virtual numbers provided by telecommunications companies.
Election officials collect voting papers in South Korea's presidential election?an abnormal situation in which one cannot enter a ballot box directly.
Electors were unable to properly manage voting papers during the pre-voting process for those who were confirmed and quarantined on May 5, causing confusion.Some voters protested, saying, "It violates the principle of direct and secret voting," as election workers collected voting papers instead of putting them directly in the ballot box.Some polling stations put voting papers in baskets and transported them, saying, "We don't do this in the election for school president and mayor."The ruling and opposition parties visited the National Election Commission in protest.The National Election Commission said, "It was insufficient for voting management, but there was absolutely no illegal possession," and decided to hold an emergency meeting on July 7 to prepare measures to vote in Japan.
This is a surprising incident, but is it possible in Korea?It is surprising that election officials collect voting papers.In the 2020 general elections in Korea, the ballot box itself was suspected to be replaced and there was a big problem with illegal elections, and this is like this in the presidential election.Moon Jae In said yesterday, "It is regrettable mistake, and the NEC should explain the situation," while Lee Jae-myung said, "We should take thorough measures to prevent confusion in the main vote on June 9."In the first place, it can be said that no countermeasures have been taken even though there was such a disturbance in the 2020 general election.The president's Moon Jae In and the ruling Democratic Party should had taken the measures together.
In the 2020 election, there was a lot of controversy over the illegal election.Korea uses an electronic ballot counting system and its communication equipment is made by Huawei.It is unclear why China is introducing Chinese products into the voting system because it is not a democracy, but some point out that the results of the vote counting may have been falsified due to illegal access from China.A professor at the University of Michigan said, "The ruling party's landslide victory in the general election is statistically abnormal, and there are many illegal votes that is enough to change the president-elect, and he published a paper about that.
Korea makes fun of Japan as a democratic backward country, but in Japan, election clerks cannot collect voting papers.That is, it has been taken care of in Japan.
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.
The preamble of the Constitution lies at the root of South Korea's anti - Japanese sentiment.The reason for affirming anti - Japanese sentiment and excluding pro - Japanese sentiments is found in the
The preamble of the Korean Constitution states that 3.1 the legal system of the provisional government of the Republic of Korea will be inherited. Then, what is the March 1 Provisional Government of the Republic of Korea? It is an organization that called itself the Provisional Government and was established in 1919 as an anti-Japanese force. Looking at the contents of the charter, we see that the oath is strongly anti-Japanese: ``We will fight to the last man to indoctrinate Japan from barbarism.''
The preamble of the constitution describes the principles that govern the entire constitution. The structure of this idea is to inherit the legal structure of the March 1 Charter of the Provisional Government of the Republic of Korea. If we interpret these without contradiction, Article 21 of the latter part of the Korean Constitution states freedom of speech and Article 22 states academic freedom, but if we read it based on the preamble of the Constitution, we can see that 3.1 Legal framework of the provisional government It can also be interpreted as allowing freedom of speech and academics on the premise of inheriting the law. This is actually the case in Korea today.
If you look at the oath of the provisional government quoted in the preamble of the constitution, it clearly states anti-Japanese ideology. In the first place, the constitution should not quote anything or include language that assumes other countries.
In any case, as long as South Korea is under this constitution, anti-Japanese activities are always legitimate, and on the contrary, pro-Japanese activities are criticized as acts that destroy the legal system of the March 1 Provisional Government Charter and the Constitution. If members of the Diet follow the principle of adhering to the Constitution, then anti-Japanese members are conducting legitimate parliamentary activities. This is the main reason why it is said that #anti-Japan is South Korea's national policy.
How can the preamble of the Constitution be consistent with fundamental human rights such as freedom of speech, thought and belief, and academic freedom? There appears to be no case where a legal interpretation has been obtained in the Constitutional Court through a lawsuit or controversy that has raised this point. The Korean government is free to expand its interpretation as much as it wants. This is the case now, as seen in the No Japan movement, where anti-Japanese activities are legitimate activities, and pro-Japanese speech is denounced as ``traitors.'' Is this an exception to basic human rights, with speech affirming the era of Japanese rule being suppressed, or is anti-Japanese a duty of every Korean citizen as written in the Provisional Government's oath?
Provisional Government OathOathTo my 2,000,000 fellow citizens whom I respect and loveMarch 1st year of the Republic of Korea One day, since the Korean nation declared its independence, men and women, young and old, all classes, and all sects, of course, have come together to fight under the inhumane violence of Japan, the Germany of the East. The sympathy of the world is now suddenly focused on our people because they have expressed the character of a nation that is extremely patient with fairness, longs for independence and freedom for its people, and loves truth, justice, and humanity. It was at this time that the government was organized with the mandate of all the people of the country. I hereby swear that this government, together with all the people of this country, will work wholeheartedly to fulfill the great mission of restoring the nation and establishing its identity as a nation, observing the provisions of the provisional constitution and the principles of international society. My fellow countrymen, be inspired. Every drop of blood we shed is the gift of freedom and fortune to our descendants. It is the precious foundation for building God's kingdom. The way of our people will surely edify Japan's wild horses. Our justice truly trumps Japan's violence. My brethren, rise and battleto the last man.
3.1 The provisional government was the result of an anti-Japanese movement that occurred on March 1, 1919 under Japanese rule, and after that, Syngman Rhee established a provisional government in Shanghai, where he was in exile. This provisional government is considered the legitimate root of the Korean government, and Syngman Rhee became the first president of Korea after Japan's defeat. In other words, the Korean government itself is based on anti-Japanese organizations. Therefore, the Constitution will inherit the legal system of the Provisional Government Charter.
It is no wonder why this story has not been reported in Japan, but it seems safe to assume that there are almost no members of the Korean Diet who are not anti-Japanese. On the contrary, he says that it is impossible to become a member of the Diet while advocating pro-Japan policy. Rather than saying, ``Many South Korean parliamentarians are anti-Japanese,'' it seems more accurate to say, ``South Korean parliamentarians exist because they are anti-Japanese.'' South Korea will never become a pro-Japanese country. That future will never come. Will the South Korean government or National Assembly propose a constitutional amendment and delete the text written in the preamble? If that happens, the roots and identity of the Korean government will disappear.
Anti-Japanese activities are legitimate activities that are affirmed by the Korean Constitution. Depending on the interpretation, it can also be considered to be outside the scope of freedom of speech. We need to think about South Korea with this in mind.