Korea JoongAng Daily - Daily News from Korea

This article is by Kim Ji-hye and read by an artificial voice.

North Korea on Saturday accused South Korea of violating its sovereignty by infiltrating drones into its airspace in September last year and again earlier this month, warning that Seoul would have to "pay a high price" for the alleged provocations.

In a statement carried by the Korean Central News Agency (KCNA), a spokesperson for the General Staff of the Korean People's Army denounced South Korea as "the most hostile" enemy and accused Seoul of committing provocative acts despite publicly calling for dialogue with Pyongyang.

According to the statement, the North Korean military on Jan. 4 detected and tracked an aerial target moving northward from the skies over Ganghwa County in Incheon, South Korea. The drone was struck using specialized electronic warfare assets and forced to crash in Muksan-ri near the border city of Kaesong.

The spokesperson said the drone was equipped with surveillance devices and that its recording equipment contained nearly seven minutes of video footage of North Korean areas.

The statement also reiterated Pyongyang's earlier claim that another South Korean drone infiltrated North Korean airspace on Sept. 27 last year. That drone allegedly flew over Phyongsan County in North Hwanghae Province and crashed in Jangphung County, Kaesong, after being hit by North Korean electronic countermeasures while returning. The spokesperson said the drone contained 5 hours and 47 minutes of video footage of northern areas.

KCNA released photos it said showed debris from the downed drones, attached recording devices and images believed to have been taken by the unmanned aerial vehicles. It accused the South Korean military of being behind the operations, claiming the drones freely passed through areas where South Korean low-altitude detection radars and counter-drone systems are densely deployed.

The spokesperson said the downed drones were evidence Seoul's "hostile nature."

"The Republic of Korea is the enemy most hostile towards us that can never be changed in nature, and the object to be certainly collapsed by us if it attacks," the statement said, referring to South Korea by its official name. The spokesperson added that South Korean "military warmongers" would be forced to "pay a dear price" for their actions.

The North's claims have not been independently verified.

North Korea has made similar accusations in the past. In October 2024, it claimed South Korean drones carrying anti-North Korea propaganda leaflets were detected over Pyongyang multiple times, threatening retaliation if such flights were repeated. South Korean officials at the time denied the allegations.

The latest accusations come amid heightened tensions on the Korean Peninsula after North Korean leader Kim Jong-un declared inter-Korean relations to be those of "two states hostile to each other." At the same time, South Korea's current administration under President Lee Jae Myung, which took office in June, has expressed interest in improving relations with Pyongyang and resuming dialogue.

Shin Jong-woo, secretary general of the Korea Defense and Security Forum, told the JoongAng Ilbo that the drones shown in the KCNA photos "appear to have been made by assembling civilian commercial parts that can be easily purchased online and do not look like conventional military drones."

A senior South Korean government official previously denied claims that Seoul conducted drone incursions into Pyongyang's airspace in October 2024. "That is completely untrue," the official said. "On the day North Korea mentioned, our military conducted no flight training."

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Kim Ji-hye and read by an artificial voice.

North Korea on Friday accused South Korea of violating its sovereignty by infiltrating drones into its airspace in September last year and again earlier this month, warning that Seoul would have to "pay a high price" for the alleged provocations.

In a statement carried by the Korean Central News Agency (KCNA), a spokesperson for the General Staff of the Korean People's Army denounced South Korea as "the most hostile" enemy and accused Seoul of committing provocative acts despite publicly calling for dialogue with Pyongyang.

According to the statement, the North Korean military on Sunday detected and tracked an aerial target moving northward from the skies over Ganghwa County in Incheon, South Korea. The drone was struck using specialized electronic warfare assets and forced to crash in Muksan-ri near the border city of Kaesong.

The spokesperson said the drone was equipped with surveillance devices and that its recording equipment contained nearly seven minutes of video footage of North Korean areas.

The statement also reiterated Pyongyang's earlier claim that another South Korean drone infiltrated North Korean airspace on Sept. 27 last year. That drone allegedly flew over Phyongsan County in North Hwanghae Province and crashed in Jangphung County, Kaesong, after being hit by North Korean electronic countermeasures while returning. The spokesperson said the drone contained 5 hours and 47 minutes of video footage of northern areas.

KCNA released photos it said showed debris from the downed drones, attached recording devices and images believed to have been taken by the unmanned aerial vehicles. It accused the South Korean military of being behind the operations, claiming the drones freely passed through areas where South Korean low-altitude detection radars and counter-drone systems are densely deployed.

The spokesperson said the downed drones were evidence Seoul's "hostile nature."

"The Republic of Korea is the enemy most hostile towards us that can never be changed in nature, and the object to be certainly collapsed by us if it attacks," the statement said, referring to South Korea by its official name. The spokesperson added that South Korean "military warmongers" would be forced to "pay a dear price" for their actions.

The North's claims have not been independently verified.

North Korea has made similar accusations in the past. In October 2024, it claimed South Korean drones carrying anti-North Korea propaganda leaflets were detected over Pyongyang multiple times, threatening retaliation if such flights were repeated. South Korean officials at the time denied the allegations.

The latest accusations come amid heightened tensions on the Korean Peninsula after North Korean leader Kim Jong-un declared inter-Korean relations to be those of "two states hostile to each other." At the same time, South Korea's current administration under President Lee Jae Myung, which took office in June, has expressed interest in improving relations with Pyongyang and resuming dialogue.

Shin Jong-woo, secretary general of the Korea Defense and Security Forum, told the JoongAng Ilbo that the drones shown in the KCNA photos "appear to have been made by assembling civilian commercial parts that can be easily purchased online and do not look like conventional military drones."

A senior South Korean government official has previously denied claims that Seoul conducted drone incursions into Pyongyang's airspace in October 2024. "That is completely untrue," the official said. "On the day North Korea mentioned, our military conducted no flight training."

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Seo Ji-eun and read by an artificial voice.

While U.S. President Donald Trump and his allies framed the capture of Venezuelan President Nicolas Maduro as a surgical strike against narco-authoritarianism, the raid's most profound impact may be felt half a world away. In Pyongyang, the sight of a sitting leader in U.S. custody appears to have deepened the darkest anxieties of the North Korean dictator Kim Jong-un and reaffirmed his belief that only nuclear weapons can guarantee regime survival.

The Jan. 3 raid, dubbed Operation Absolute Resolve, saw elite U.S. special forces extract Maduro and his wife from a Caracas safe house in a matter of minutes.

To the Kim regime, the Maduro precedent is the ultimate confirmation of a long-held paranoia that the United States remains an apex predator that will hunt down hostile leaders the moment they lack a credible shield — to him, the nuclear sword, proven by Kim's subsequent launch of a hypersonic missile just 24 hours later.

Experts note that while Kim is likely confident that the United States would not dare launch a similar raid against a nuclear-armed North Korea, the Maduro case may nonetheless harden his skepticism toward future summits — particularly with Trump — and reinforce a more guarded, confrontational stance in the months ahead.

A hypersonic counter-signal

Within hours of the first reports of Maduro's capture reaching Pyongyang, North Korea pivoted to a heightened military readiness and launched a propaganda offensive.

Kim presided over the test-launch of the Hwasong-11E, a "hypersonic" ballistic missile that state media claims reached a distance of roughly 1,000 kilometers (about 621 miles) before impacting the East Sea, on Jan. 4.

Pointedly citing the "recent geopolitical crisis and complicated international events," he argued that the current global landscape "clearly shows why we need such a strong level of deterrence." Although he stopped short of naming Venezuela, the allusion was unmistakable.

Experts broadly agree that the timing and framing of the missile test were closely tied to the Maduro operation.

"The launch was intended to show that physical pressure, such as a decapitation operation, would not apply to North Korea, preemptively warning that any such attempt would be met with a devastating hypersonic response," said Lim Eul-chul, an inter-Korean relations professor at Kyungnam University's Institute for Far Eastern Studies.

Lim added that the U.S. operation in Venezuela likely delivered two powerful messages to Kim Jong-un: that he faced an existential threat and that he had renewed justification for accelerating his nuclear ambitions.

"Maduro's humiliating capture decisively reinforced Kim's belief that giving up nuclear weapons would be tantamount to suicide," he said.

Answering a question from the state-run Korean Central News Agency (KCNA), an unnamed North Korean Foreign Ministry spokesperson denounced the raid as a "wanton violation of the UN Charter" and "the most serious form of encroachment on sovereignty."

Analysts observed that the tone of the condemnation was significantly harsher than the North's reaction to the U.S. strikes on Iranian nuclear facilities in June 2025 — another limited American military operation against an anti-U.S. state.

While the Iran statement "strongly denounced the attack [...] for severely violating the UN Charter," it stopped short of the visceral language deployed after Maduro's capture, compared to the recent use of phrases such as the "rogue and brutal nature" of Washington.

At the same time, the absence of any direct reference to Trump points to deliberate calibration.

"Rather than unleashing an all-out denunciation, North Korea appeared to be taking stock of international opinion and carefully drawing its lines," said Yang Moo-jin, a distinguished professor at the University of North Korean Studies.

The ghosts of Hussein and el-Qaddafi

For the leadership in Pyongyang, the Venezuelan opera...

This article is by Kim Kyung-hee and read by an artificial voice.

As more Koreans welcome pets into their homes, a new kind of inflation is hitting households — and it barks. The rising cost of raising cats and dogs is quietly squeezing wallets across the country in a phenomenon dubbed "petflation," a portmanteau of "pet" and "inflation."

A Pomeranian owner surnamed Kang, for example, spends over 100,000 won ($70) a month on pet food, treats and grooming.

"I bought several months' worth of dog food in advance because I heard prices would rise starting in February," Kang said. "My dog is old and has more health problems now, so I'm worried about medical costs rising too." Kang's concern is shared by many other pet owners, as an unexpected trip to the vet can add hundreds of thousands of won in extra expenses.

But with Korea's pet-owning population now surpassing 15 million, petflation is becoming a part of daily life.

According to data from the Ministry of Data and Statistics released on Wednesday, prices for pet products and care services rose by 2.9 percent and 2.5 percent, respectively, last year, outpacing the overall consumer price index increase of 2.1 percent. Compared to 2020, prices for pet products and services surged by 20.2 percent and 13 percent, respectively, through last year. Overall inflation during the same period stood at 16.6 percent.

Even caring for a low-maintenance cat or dog now costs about 200,000 won per month.

According to KB Financial Group Research Institute's 2025 Korea Pet Report (translated), the average monthly cost of raising a pet reached 194,000 won last year, a 26 percent increase from 2023. Among the 1,000 households surveyed, 20.6 percent reported spending over 250,000 won monthly on pet care — up five percentage points from 15.6 percent in 2023. Meanwhile, those spending 50,000 won or less fell from 23.6 percent to 18.8 percent over the same period.

The largest portion of spending goes toward food, with the report finding that 57.6 percent of all pet-related expenses last year were for food, treats and nutritional supplements.

While medical costs don't occur often, they can be a heavy financial hit when they do. Surveyed households reported spending an average of 1.46 million won annually on veterinary care over the past two years — nearly double the 787,000 won reported in 2023.

Petflation is expected to worsen this year as pet food and supply prices continue to rise.

Purina, a pet food manufacturer, announced it will raise prices for dog and cat food by 10 to 27 percent starting Feb. 2 due to increased production costs.

Monge Korea, the official importer of the Italian pet food brand Monge, also said on Tuesday that it will raise prices on its dry food lineup next month, citing the won-dollar exchange rate, higher raw material costs and logistics expenses.

Dr. Felis, a brand that sells cat litter, said it will raise prices on six of its main products by 3 to 17 percent starting Monday.

Veterinary fees are also on the rise.

According to a Ministry of Agriculture, Food and Rural Affairs survey of 3,950 animal clinics conducted last year, prices rose in nine out of 20 veterinary service categories. These included an 8.3 percent increase in X-ray fees, 6.5 percent in consultation fees and 2.2 percent in initial examination fees.

Seoul National University's veterinary hospital is reportedly considering raising its fees this year.

As the financial burden on pet owners grows, the government is pushing forward with measures to help ease costs. The Agriculture Ministry plans to roll out a new public veterinary fee system this year in government-designated public and cooperative animal hospitals. The number of veterinary services exempt from value-added tax has also been expanded from 102 to 112 items.

"We've completed the standardization of procedures for 100 commonly performed services at animal hospitals, and we plan to expand this further," said Hong Ki-ok, the head of the pet industry...

This article is by Lee Jian and read by an artificial voice.

"Comedy requires a shared sense of empathy. More than sadness, laughter demands a deeper, more precise form of connection."

That understanding, by musical director Shim Seol-in, shaped the ongoing production of "Beetlejuice," which, for the first time, brought a comic talent onto its writing team.

"I honestly thought they were joking at first," comedian Lee Chang-ho told reporters Friday in Jongno District, central Seoul.

Lee debuted as a comedian in 2014 and is best known for his parody of drag queen Lola from the musical "Kinky Boots," which surpassed 10 million views after its release in July 2024.

"I've only ever pretended to be a musical actor," Lee said. "So getting to work on an actual musical felt incredibly special. To be honest, I even wanted to go on stage myself — if only I could sing and dance better!"

"Beetlejuice" is adapted from the 1988 film of the same name directed by Tim Burton. After debuting on Broadway in April 2019, the show gained a reputation as a dark comedy that tackles death, grief and the fear of being forgotten.

The story centers on Lydia Deetz, a sharp-witted teenager fascinated by the afterlife, who encounters Beetlejuice, a crude, chaotic demon desperate to return to the world of the living. When a recently deceased couple begins haunting their own home, Beetlejuice manipulates Lydia into helping him escape the underworld.

Neither the original American production nor Korea's first staging of Beetlejuice in 2021 formally carved out space for localized comedy. The 2021 run in Seoul, though it drew attention as the show's first international production, had audience feedback that often cited its humor as underwhelming.

The strategy paid off. Korean-specific jokes — referencing skincare routines and recent headlines — draw steady laughter across the 150-minute performance.

Calling "Beetlejuice" one of the most rewarding projects he worked on in 2025, Lee said the title character's nature gave him more creative freedom than he had expected.

"Beetlejuice is a ten-billion-year-old ghost," Lee said. "He doesn't understand social boundaries. He doesn't know what's appropriate or inappropriate. That gave me a lot of room to experiment."

"We had extensive discussions with the American creative team about every change," Shim said. "Sometimes Lee would even act out the revised jokes in front of them.

"At first, it was hard to break through those barriers. But once [the original creatives and the Korean team] saw the show, I think we all genuinely understood the importance of having those discussions."

One element, however, was nonnegotiable: the "Tim Burton-ness" of Beetlejuice.

"At its core, the show poses simple questions about life and death," Shim said. "It suggests — lightly, playfully — that life might still be worth trying one more time. That attitude, expressed through Tim Burton's sensibility, remains strongly intact in the Korean show."

"Beetlejuice" runs through March 22 at the LG Arts Center in Gangseo District, western Seoul.

This article is by Michael Lee and read by an artificial voice.

[EXPLAINER]

When the Seoul Central District Court delivers the first of several verdicts in cases involving former President Yoon Suk Yeol next week, it will pass judgment on one of the most consequential episodes in modern South Korean political history: his short-lived declaration of martial law on Dec. 3, 2024.

Yoon, who was removed from office by the Constitutional Court five months afterward, currently faces seven separate criminal trials related to his actions while in office. The concurrent cases represent the most extensive judicial scrutiny of a former president's conduct since South Korea became a democracy in 1987.

Prosecutors accuse Yoon not only of abusing the powers of his office, but of trying to use the machinery of the executive branch — the military, the police and the Presidential Security Service (PSS) — for political ends that threatened the constitutional order.

Of the seven cases, four were brought by a special counsel appointed to investigate the martial law crisis and its aftermath. Three others were filed by the regular prosecution service and involve separate allegations of abuse of power and political interference during Yoon's presidency. Although the cases differ in scope and seriousness, courts are now moving forward on several of them at the same time.

Two cases stand out. The most serious accuses Yoon of leading an insurrection through his attempt to impose martial law. The other focuses on allegations that he obstructed investigators and interfered with the execution of arrest warrants. The remaining cases — including trials involving alleged perjury, drone operations in North Korea and unrelated abuse-of-power charges — are proceeding more slowly on parallel tracks.

Together, prosecutors argue, the cases show that the former president attempted to use the powers of his office to undermine democracy itself.

Who is in charge of prosecuting Yoon?

Unlike most criminal cases, which are handled by the state prosecution service, most cases involving Yoon are handled by a special counsel team, an investigative mechanism in South Korea reserved for politically sensitive cases. Efforts to establish a special counsel team were repeatedly blocked by Yoon's deputies during his prolonged impeachment. The requisite legislation was enacted only after President Lee Jae Myung was elected in June last year.

The law granted the special counsel broad powers, including the authority to investigate senior officials, to apply directly to courts for arrest and search warrants, and to file indictments without approval from the prosecutor general. Its mandate covered not only Yoon's declaration of martial law, but also related conduct before and after it, such as alleged obstruction of investigators, destruction of evidence and interference with Cabinet deliberations.

Cho Eun-suk, a veteran prosecutor who was appointed special counsel in June, began his work after Yoon had already been indicted on insurrection charges. Rather than reopening that case, Cho's office took over its prosecution while also pursuing new inquiries into Yoon's conduct before and after his impeachment.

That approach led to a second indictment in July on obstruction and abuse-of-power charges. By keeping those allegations separate from the insurrection case, the special counsel created the multiple-track structure that now defines Yoon's criminal proceedings. The obstruction case, narrower and less complex, moved more quickly and is now the first of Yoon's cases expected to reach judgment.

The special counsel's charging decisions also affected how courts handled other defendants. Because senior military and police officials were indicted under a shared theory of responsibility, judges ordered that the insurrection-related cases be merged for trial. That decision placed Yoon at the center of a single proceeding examining the full chain of command behind the martial law attempt.

A...

This article is by Woo Ji-won and read by an artificial voice.

In recent years, Korea has become an increasingly popular choice for overseas patients seeking cosmetic and other medical treatments thanks to its advanced techniques and widely available medical services.

What many find confusing, however, is where to begin that journey: which clinic to choose, which surgeon to approach for a procedure or even how to book an appointment — particularly in a country with roughly 1,200 plastic surgery clinics.

That's when medical tourism agencies come in. From flight arrangements to clinic bookings and post-procedure care, these agencies make sure patients receive the treatments they want, and even more, often within a tight schedule.

"For our company, even shopping or light sightseeing are standard for surgery patients," said Eugenia Hwang, a general manager at a medical tourism agency Docfinderkorea. The agency even assists with much smaller tasks, including food delivery during a patient's stay in Korea. "Sometimes, this means finding halal meals, suitable options for vegetarians or vegans or simply foods that feel familiar and comforting during recovery."

The industry's rapid growth has even resulted in the coining of the term "medical tourism," referring to foreign travelers coming to Korea for beauty and other treatments and has been on the government agenda for years as a means to spur growth in tourism sector.

Many K-beauty followers come on tightly scheduled trips, opting for bundled packages that compress multiple procedures into just a few days — from treatments that take only minutes, such as Botox injections or skin boosters, to more involved operations like eyelid surgery or rhinoplasty.

During these short-term visits, it is often agency managers, as well as consultants and translators, who ensure the experience runs smoothly.

K-beauty's invisible brokers

Korean patients usually book directly with clinics, hopping from one to another in search of the right surgeon at a reasonable price. Many international visitors, however, first turn to medical tourism agencies, easily searchable online.

Medical tourism agencies help foreign patients plan and manage medical treatment abroad and are run by government-backed centers, such as the Medical Korea Info Center or private companies.

As of 2024, there were 1,195 plastic surgery clinics in Korea, up 20.6 percent from 991 in 2019, according to data by Rep. Kim Mi-ae from the Health Insurance Review and Assessment Service. The number of dermatology clinics also rose by 11.8 percent over the same period.

For most overseas patients using the agencies, the process begins online.

Initial contact typically takes place through messaging platforms or email, where online consultations allow agency managers to identify patient's concerns, help in finding suitable clinics for desired procedures and gather recommendations and pricing quotes.

Once a patient decides to move forward, the manager schedules consultations and surgeries, explains recovery timelines and helps with travel preparation, including hotel bookings and visa-related guidance.

"They are not living in Korea, so they need to plan to their whole journey," said Maiya Kogay, who has spent seven years working across K-beauty industry both at agencies and clinics. "That's why the online consultation is an important part."

When the patient arrives in Korea, "the role becomes much more hands-on," said Hwang.

Managers typically meet patients at the airport and, from that point on, become inseparable companions, accompanying them to every clinic visit. "During consultations, the manager ensures that both the doctor and the patient fully understand each other, particularly when discussing expectations, limitations and surgical plans."

Support continues after surgery, with managers soothing post-op worries, delivering care kits and medications and escorting patients to every follow-up visit. "This level of support can be especiall...

This article is by Park Eun-jee and read by an artificial voice.

Apple is eyeing a release of its first foldable smartphone in September, according to a source familiar with the matter, as the world's largest smartphone maker moves to enter the market for the relatively new form factor, which is currently dominated by Samsung Electronics.

In line with Apple's alleged schedule, Samsung Display, a panel maker 84.8 percent owned by its namesake, will begin the production of Apple-bound foldable panels — as the sole vendor — in May.

"The baseline schedule is set for September, but there's still a chance it could be pushed back," said the source, who requested anonymity due to the sensitivity of the issue. "Around 9 million panels are expected to be supplied for the folding model in the initial batch."

Both Apple and Samsung Display declined to comment.

The anticipation comes as the Korean panel maker unveiled an advanced organic light-emitting diode (OLED) display with a markedly less noticeable crease than on previous models ahead of the CES trade show on Jan. 5, addressing one of the most persistent issues with foldable technology.

While Samsung Display did not confirm if the new panel is intended for the upcoming Apple foldable and Galaxy Z Fold 8, it did release a statement on the panel's new features, noting that "the next-generation foldable panel features a noticeably shallower crease compared to previous models, significantly reducing the visual degradation caused by light reflection or shadowing along the fold."

At the heart of the improvement is a laser-drilled metal plate that will go underneath the panel to disperse stress when the device is folded — ultimately making the crease less eye-catching.

"The design appears to incorporate ultrathin glass layers on the top and bottom of the panel, as well as a metal plate on the bottom, to help improve the crease," the source added.

Market tracker International Data Corporation (IDC) expected Apple to take around 20 percent of shares in the foldable market.

"But the real game-changer for the category comes at year-end when Apple enters the foldable space, projected to capture over 22 percent unit share and a staggering 34 percent of the foldables market value in its first year, thanks to an expected average price point of $2,400," said Nabila Popal, a senior research director at IDC in a report from December 2025.

Samsung is the undisputed leader in the foldable market, with 64 percent of shares in terms of shipment as of the third quarter of 2025, according to the latest data available from Counterpoint Research, followed by Huawei with 10 percent.

Cho Won-kyeong

The author is a professor of economics at Sejong University.

The year 2025 was a revealing one in regard to global asset markets. Gold and Bitcoin, once grouped together as "alternative assets," have clearly diverged paths. While gold has continued to set record highs, Bitcoin remains the subject of sharply divided views on its trajectory for 2026.

This difference is not simply a result of price movements. It reflects the questions that we must ask about capitalism itself. Gold's rise is not driven by a narrow return to safe haven preferences. Global liquidity has expanded, fiscal deficits have become structural rather than cyclic and financial sanctions and geopolitical tensions are now part of the everyday landscape. In such an environment, central banks and governments are less concerned with yield than with monetary sovereignty and trust.

Gold stands out because it is not based on anyone's promise. It cannot be excluded from settlement systems through political decisions or financial sanctions. That is why demand for gold does not easily weaken even as prices rise. It functions more like insurance. Few people cancel an insurance policy simply because the premium has increased.

Silver presents a different profile. It often moves alongside gold but has a distinct identity as an industrial asset. The global push toward energy transition and the expansion of AI infrastructure are structurally increasing demand for silver. At the same time, its price is far more sensitive to the business cycle and shifts in technology outlooks. Silver frequently appears cheap, but that perception can be misleading if its dual nature is misunderstood.

Bitcoin, once described as "digital gold," currently sits far from the traditional definition of a safe haven asset. In a high interest rate environment, it is largely treated as a risk asset. It does not figure into central bank reserve strategies and is increasingly viewed as sharing the fate of technology stocks rather than that of monetary hedges. For Bitcoin to regain broader strength, the market's underlying focus would need to move away from returns and toward a more fundamental concern: whether the existing monetary system itself can continue to be trusted.

In this sense, the three assets are responding to different signals: Gold reflects anxiety about a dollar-centered monetary order; silver mirrors the direction of industrial transformation; and Bitcoin poses a challenge to the credibility of the current currency system.

Reading these divergent movements together offers a clearer picture of where modern capitalism stands today and what kinds of uncertainties are shaping investor behavior at this moment.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

Kim Won-bae

The author is an editorial writer at the JoongAng Ilbo.

Calls to relocate semiconductor fabs slated for the Yongin semiconductor cluster to Saemangeum in North Jeolla Province mark a departure from conventional regional lobbying for industrial projects. These demands seek to politically overturn a national strategic industry already approved and under construction by invoking access to renewable energy. Asking companies to move fabs that have already broken ground in Yongin is unrealistic and would impose enormous national opportunity costs. The semiconductor industry is not a matter of simply moving buildings. It depends on dense ecosystems of skilled workers, supplier networks and research infrastructure.

The controversy escalated ahead of local elections after some North Jeolla politicians raised the idea and Climate, Energy and Environment Minister Kim Sung-hwan publicly echoed concerns about whether factories should move to regions with more power capacity. Attempting to use central government authority to relocate operating or soon-to-be-operating fabs to areas that have yet to meet basic location requirements is anachronistic and inappropriate. Advocates cite the principle of local production and local consumption of energy, yet it is unclear whether Saemangeum actually meets that standard better than existing sites.

According to the government's Power Statistics Information System, South Chungcheong Province generated the most electricity in 2024 at 103,618 gigawatt-hours, largely due to its concentration of thermal power plants. In terms of self-sufficiency, North Gyeongsang, South Jeolla and South Chungcheong all exceeded 200 percent, producing more than twice their own consumption and exporting the surplus. North Jeolla produced 15,878 gigawatt-hours, about 15 percent of South Chungcheong's output, with a self-sufficiency rate of 73 percent. While plans exist to build an RE100 industrial complex in Saemangeum, renewable sources with limited generation hours cannot reliably supply the massive and continuous power demand of semiconductor fabs.

If this logic were applied consistently, regions with higher existing output or self-sufficiency could demand that fabs be moved to their jurisdictions once they add renewable capacity. Such arguments would never end. Political pressure that distorts corporate location decisions ultimately harms the industry and the national economy.

At the same time, the current model in which the Seoul metropolitan area functions as a black hole absorbing provincial power and resources is not sustainable. Regional grievances are clear. Electricity is largely produced outside the capital area, yet power-intensive factories are concentrated around Seoul. While tax revenues collected in the capital are redistributed through grants and subsidies, that mechanism alone can no longer justify persistent concentration.

The solution is equally clear. Instead of pressing the central government to force relocations, regions must compete to create sites companies cannot ignore. Stable electricity supply is necessary but insufficient. Abundant industrial water and livable environments that allow skilled workers to settle, including housing, education and health care, must also be in place.

Japan's Kyushu region offers a useful comparison. Through long-term coordination between local governments and companies, it built infrastructure, talent pipelines and supply chains to become a semiconductor hub. Investments by firms such as Sony and Taiwan's TSMC flowed to Kyushu not because it was rural but because it was competitive.

The same applies to Texas in the United States. In 2024, Texas ranked first in U.S. natural gas production, with gas accounting for 44 percent of power generation. Wind made up 24 percent and solar 10 percent, while nuclear and coal provided additional stability. Combined with aggressive state tax incentives and work force programs linked to universities, this energy mix ...