The Marmot's Hole

Korea... in Blog Format

Page 3 of 843

Breaking News: Jessica Jung dropped from Girls’ Generation

It all started with an update to Jessica’s official Weibo account, which stated:

Untitled_1

 

 

 

 

 

 

“I was excited about our upcoming fan events only to shockingly be informed by my company and 8 others that as of today, I’m no longer a member. I’m devastated – my priority and love is to serve as a member of GG, but for no justifiable reason, I am being forced out.”

The whole K-pop world is alight with speculation.  At first it was believed that Jessica’s Weibo account was hacked and that message was a fake.  Alas, it would appear not so.

SM Entertainment’s official statement is:

Hello. This is SM Entertainment.

We are offering our position on the words posted on Jessica’s Weibo posted today.

This coming spring, due to her personal situation, she has notified us she will halt her team promotions with the release of one [more] album.

Despite Jessica’s sudden notice, the agency and the Girls’ Generation members tried our best and tried to figure out a way that Girls’ Generation’s activities can continue in the best possible direction.

However, in the midst of insufficient negotiations regarding conflicts of differences in priorities and interest, Jessica started her fashion business. Due to this, despite ongoing talks, it has come to a point where the team could not be maintained.

Thus, the agency had no choice but to pull up Girls’ Generation’s activities as 8 members earlier than planned, and in the midst of while working out when to announce this, Jessica had posted her words early this morning.

From here on, our agency will continue to support and manage the 8-member Girls’ Generation and Jessica’s individual activities.”

Apparently, Jessica has other interests she wants to pursue.  According to Soompi, a popular K-pop blog, she is an aspiring fashion designer and wants to study fashion design in the U.S. and is attempting to launch her own brand “BLANC.”    Her dreams to become a fashion designer, going to fashion school in the U.S. while still participating in Girl’s Generation activities appeared to be too much of a conflict for SM Entertainment and they apparently considered it a breach of contract and dropped her.  The SM statement does say that there are “on going talks” so it’s not clear if the drop is permanent.  More to come.

The remaining eight members of Girls Generation were spotted today in Incheon Airport with dire expressions and one member short.

(Image from SBS)

UPDATE

Jessica releases her official statement.  Here are excerpts:

Up until the beginning of August when I was launching ‘BLANC’, I had received agreement and permission from SM, and congratulations from the members as well.

However, in early September, after only a month since the launching, the members suddenly changed their position and held a meeting, and told me to either quit my business or leave Girls’ Generation without any justifiable reason.

[...]

Shocked about this, I had met with the agency CEO on September 16 to convey my position, and once again confirmed their permission for carrying out my business.

However, on September 29, I was given a one-sided notice asking me to leave Girls’ Generation. Due to this, I was also unable to attend the fan meeting in China on September 30, and I have also been excluded from following Girls’ Generation activities.

So, management was supportive and the other eight members asked her to leave?  Whaaaat!?

Pardon moi?

Citing the downturn in the Korean economy, members of Park Geun-hye’s ministries have floated the possibility of special pardons to conglomerate owners and family members in prison on convictions of economic crimes such as embezzlement, breach of trust, and incurring losses to their companies.

On September 24, Justice Minister Hwang Kyo-ahn hinted at the possibility of releasing or pardoning imprisoned businessmen by rhetorically asking, “Couldn’t they be given a chance if a national consensus is formed?”, and on September 25,  Deputy Prime Minister for Economy Choi Kyung-hwan supported  Hwang’s position:  “Punishing businessmen with excessively stringent penalties is no help when it comes to economic recovery.”

Candidate Park Geun-hye campaigned on a promise that President Park Geun-hye would have zero-tolerance for chaebol chiefs’ crimes.  Hwang had previously reiterated PGH’s stance for strict application of law regarding business irregularities, and a special amnesty in January did not include businessmen involved in financial crimes:  “The Justice Ministry last year declared that those in leadership positions in society and high-ranking government officials will not be given parole, as a matter of principle. It was in that spirit of nontolerance that Park Yeon-cha, former chairman of Taekwang, was denied parole even after approval was granted by the parole board.”

Chaebol Prisons Sentences

Now two high ranking members of PGH’s ministries have publicly voiced statements for some tolerance.  Given PGH’s bloodlines, Korea’s hierarchical culture, and PGH’s reputed imperial presidency, any remaining doubt whether PGH herself tested the proposal should be dispelled by Cheong Wa Dae’s failure to rebuke, deny, or distance itself from the proposal.  More so, two officials from two separate ministries making two such statements on two consecutive days feels like a toe in the water approach to ease the cold shock of an inevitable plunge.

The one positive, real difference that I had seen in PGH’s presidency was her stance on chaebol chiefs’ misconduct and the signal that got sent to Korea’s subculture of corruption.   Cheong Wa Dae’s seeking economic salvation from criminals convicted of accounting fraud, tax evasion, and embezzlement seems like bringing back the fox to shape up the hen house.

Pardon me, but are convicted criminals truly the best Korea can do?

The Asian Games Cluster F@ck Thread

Here’s the ask:

Can we have a thread on how much the Asian games has turned into a huge Korean style cluster fuck? My wife is embarrassed but she said, it’s typically Korean to fuck things up so well. Can’t wait for the Olympics now! Incheon is right next to Seoul and they couldn’t even get that right, how the hell are they going to manage in the middle of nowhere?

…and here’s the answer:

A clusterfuck.

1.Stadiums getting blackouts
2. Athlete’s lunch boxes found with salmonella
3. Volunteers asking for athletes signatures and making them late to their events – because they got 1 hour of training 1 week before the Games started.
4. 20% of interpreters quitting (because they had to pay for their own transport to and from the Games),
5. Athletes’ rooms not having fans or A/C,
6. Athletes’ rooms crammed with three beds and cramming athletes in them because they don’t have enough rooms
7. No mosquito screens for the rooms, subpar quality food for the athletes – partially caused by the fact that the majority of the cooks are college kids majoring in food science
8. Beach volleyball site doesn’t have changing rooms
9. Badminton stadium has A/C with strong wind that got the complaints of all athletes including Korean ones
10. Thailand baseball team had to practice in the dark because the lights weren’t on
11. Archery field was so shitty the Korean Archery association used their own funds to have the field meet the standards (including a whole new display)
12. The shooting field lacked lockers and seats for the athletes (forcing them to sit on the stairs with their stuff)
13. Plumbing trouble leaks urine at various stadium
14. The weightlifting stadium lacked curtains or other covers for the changing room – everyone saw the athletes change.
15. The Sepak Takraw (check it out, btw. It’s pretty epic) stadium leaked rainwater mid-event and the event was delayed for 20 minutes
16. No one informed the teams that the official basketball brand changed.
17. Critical shortage of medical staff at the basketball games, forcing the team trainers and other athletes to play doctor.
18. Organizers didn’t tell a Chinese fencer (A bronze medalist) that the shuttle bus stations changed locations. A Korean journalist had to give him a ride on the taxi, and the Organizers chastised the fencer for not getting on the earlier shuttles afterwards.
19. Organizers converted the Disabled Parking spots to VIP parking spots that can be bough at a fee. Yeah.
20. The broadcasters are not covering the events well – even the ones that Koreans would be interested in watching like badminton. The Koreans had to watch the badminton final using a Chinese TV station online.
21. Organizers selling most of the tickets to popular events to Chaebols, who of course doesn’t use them = empty stadiums even in events that are popular (baseball, basketball, etc)
22. It’s nice that the organizers had the ticket pre-sale available online with multiple languages. Too bad you need either a Korean ID number or foreigner registration number to buy one. Oh, and a Korean credit card. (Nice one, guys. Learn that move from Naver/Daum?)
23. The official Incheon Asian Games website was down until September 24th.
24. A shuttle bus driver, because he thought it was too bothersome to go through the entire route, decided to just skip the Field Hockey site (귀찮으니까…). What the fuck.
25. Organizers (read: Incheon city government) are forcing all school field trips in the city to go to the events because they have trouble keeping the seats filled (caused by the previous mentioned reasons.
26. Shuttle bus in general are either in critical shortage or arbitrarily changing/cancelling service. Disturbing amount of journalists/athletes are relying on taxis… except that the taxi drivers have no idea what any of the venues/buildings are.

And, of course, when the journalists asked the Organizers about these clusterfucks, the Organizers got into a verbal altercations with the journalists. Then they tried to issue a gag order on any articles critical of the Games. Then they flatly denied issuing any gag orders… to the journalists that they personally gave gag orders to.

A clusterfuck.

 Qatar women's basketball team walking off the court after withdrawing ahead of their women's preliminary round match against Mongolia. (AFP)

To the above list, I can add the row over the Qatari women’s basketball team forfeiting their final games and leaving the Asian games altogether over not being allowed to wear their hijab.  “The withdrawal of the Qatari team has tarnished the image of the Asian Games, which trumpets diversity and inclusiveness yet said it was powerless to help the players.   Competition at the Asiad is conducted under the regulations of the individual sports’ governing bodies, meaning organisers had to follow FIBA Article 4.4.2 prohibiting ‘headgear, hair accessories and jewellery’ for reasons of safety and uniformity.”  The Asian Games organizers and Qatari team should have addressed the Peng Yang of China, right, against Raja Norsharina Raja Shabuddin of Malaysia. Photograph: Lintao Zhang/Getty Imagesissue before the start of games.  Allowing the wearing of hijab seems  a reasonable accommodation unless someone can show that wearing hijab gives an advantage to the wearer, presents a disadvantage to the competition, or makes problems for the officials:

Indonesian archer Sri Ranti said she did not understand why she was allowed to wear an Islamic headscarf but other athletes in different sports were not.

“It’s about our religious freedom,” she added. “I don’t understand it.”

An archer on the Qatari men’s team, Al Mohandi Ibrahim Mohammed, said the issue was one of safety rather than religion but added that there were other more dangerous things to look out for than headscarves.

“I don’t think they are targeting Muslims, I believe that the hijab is banned for safety reasons,” he told Reuters.

“But from what I understand, hijabs, bandanas and hairbands are all allowed in the Women’s National Basketball Association.

“I think a long ponytail would probably cause more safety problems.”

From my side, I have enjoyed the games from my private box with full half-stocked refrigerator, luxury leather seats, private bath, HDTV monitors…. OK, one HDTV monitor.   My 술집여자, however, is a little too lippy, snippy, and hippy .  So yeah, cluster f@ck.

(Special thanks to bumfromkorea. All my work should be so easy. )

 

Open Thread: September 28, 2014

Out and about on amazing Autumn weekend.

Kim Jong-un’s “gravity” is starting to cause problems

Back when Kim Jong-un was just a kid in a foreign school in Switzerland, he was a skinny boy who liked to mercurially run around basketball courts.  Jong-un’s dad, the former Dear Leader Kim Jong-il, told his son that in order to rule he needed a “leader’s gravity.”  So, they fattened the boy up to be the round mound of rebound that he is today.

Unfortunately, this is evidently creating problems.  Health problems at the merry old age of 31?  The guy’s been out of public view for three weeks, even missing a session of parliament for the very first time.  The rumor is that Jong-un may have gout because he was walking with a pronounced limp the last time he was seen publicly.  Gout?  Isn’t that just for old people who eat too much rich food and drink too much beer?  In any case, even North Korean TV is admitting that the Dear Leader may be feeling a little under the weather as of late.

The dude is fat.  Probably far fatter than a healthy man his age should be.  One weird rumor says his weight is ballooning due to his addiction to Swiss Emmental cheese.

Well, Mr. Dear Leader I hope you eat shit and die get well soon.

 

Match the average Korean faces with the time periods!

Today’s WSJ discusses how Korean faces are changing over time.  With interracial marriage, plastic surgery and even nutrition factored in, the Korean face is changing.  Apparently, the Korea Face Institute has taken computer assisted calculations based on 20,000 photographs and skull measurements (when the time period didn’t have photography available).

Korea to sign on the F-35 dotted line and some KF-X news

It seems to take nations forever to figure out if they are going to buy into an expensive fighter jet procurement program, or not.  So, although Korea stated its intention to select Lockheed’s F-35 back in March of this year (40 jets for ~$7 billion USD), apparently today Korea stated its intention to actually sign on the dotted line.  What probably took six plus months was the negotiations for tech transfer for Korea’s native KF-X program.

It’s apparent that the Koreans wanted to negotiate all they could from Lockheed to get as much tech transfer as possible.  To get to this stage, the Koreans essentially has to say no to the Sweds and their Flygsystem 2020 stealth program and the Euros, who offered to throw in the kitchen sink, including full sharing of engine and avionics technology.

Despite all these promises from the Euros and the Swedes, the Koreans decided to go with the Americans for all three F-X phases, with one and two going to Boeing’s F-15K “Slam” Eagle and phase three going to Lockheed’s F-35A.  If the Koreans were okay with dissing other technology partners, pray do tell what did Boeing and/or Lockheed promise to the Koreans, regarding technology transfers?

According to the NYT:

The deal, which has yet to be signed, includes undisclosed terms for technological transfers from Lockheed to help South Korea’s $8.2 billion KF-X program to develop its own advanced fighter jet, the procurement agency said. The procurement agency said its negotiations had also involved the United States government, whose approval is often needed for technology transfers, suggesting that the deal had already received the government’s blessing.

So, what are these “… undisclosed terms for technological transfers from Lockheed…”?  What did the U.S. government agree to allow to be transferred?  It’s got to be more than what the Sweds and Euros were promising, right?  I’m damn curious.

Anyways, in other news, Japan is going forward with its own indigenous stealth jet designs (spearheaded by Mitsubishi Heavy Industries) called the ATD-X Shinshin.

(Photo from The Aviationist)

Hummm, the technology demonstrator (above) looks like a stealthy version of a Super Hornet.

Regarding native Korean attempts at stealth, the wheels seem to be turning slowly but excruciatingly forward.  The Defense Ministry has finally decided on which basic design the KF-X will take, ultimately opting for the double-engine configuration.  The battle between the single and twin engines have been a battle between the Defense Acquisition Program Administration (DAPA) and the Agency for Defense Development (ADD).  ADD has always wanted to the two engine design and DAPA has always been more conservative.  The cost difference between the single engine is $6.2 billion USD vs. $8.3 billion USD in R&D costs alone.  Off-the-cuff, it has been know that the ADD prefers the C103 design (i.e. non-forward canard configuration), although no twin-engine design has yet been finalized.

(ADD’s C103 design, image from Chosun.com)

With this design, the estimated cost of R&D is $8.3 billion USD and procurement of 120 craft after 2020, the total budget is expected to be $19.7 billion USD, easily Korea’s largest single defense expenditure ever.  Given the shear size of this project, getting the National Assembly to approve the budget is going to be quite an experience, I’m sure.

Any ways, KAI will be building a special development center for the aircraft and GE has been eagerly requesting to be the main contractor for the engines.  More to come, I’m sure.

Might as well spit this out while I’m on here.  In T-50 news, an internal U.S. Air Force report (the air force’s air university division, I believe) has essentially endorsed the FA-50 as the ideal platform for  America’s T-X program (trainer).

Colonel Michael Pietrucha states:

The service should procure the F-X, envisioned as a T-38 replacement, in three variants.  The base airframe; T-X, essentially a modernized T-38 equivalent purchased off the shelf- would constitute the most numerous aircraft (400).  The AT-X would take the form of an all-weather, combat-capable, multirole T-X with air-to-ground capability including guns, rockets, and precision guided munitions.  The FT-X would be a fully capable light fighter with a modern air-intercept radar and air-to-air-missile capability comparable to that of the F-16C.  The FT-X is intended as a good fit for the Air National Guard’s ASA mission and for use as an aggressor.

A  “base airframe” that’s “off the shelf” and can be tailored into “three variants” like trainer,  ground attack and fighter, huh?  There’s only one product that fits that bill: the T-50.

Oh, and lastly thumbs-up Madame President!

Koreans now drink more coffee than eat white rice.

The headlines are saying that Koreans drink more coffee than eat rice, a statement that’s patently false.

Screen Shot 2014-09-23 at 10.00.14 AM

(Graphic from I Am Koream)

White rice 7 + multigrain rice 9.5 = 16.5 total rice > 12.3 coffee, no?

However, there is very little doubt that total Korean intake of rice has been decreasing over the past few years, particularly among urban dwellers.

Do North Korean refugee women dream of finding their perfect South Korean meal ticket husband?

What usually comes to mind when one thinks of North Korean women?  Those pretty cheerleaders that the North occasionally send out to international sporting events?  Women who, by very nature of being malnourished, being an average of 2-3 inches shorter than their South Korean counterparts?  Prettier than average Korean women in line with the Korean saying, “남남북녀” (“Namnam buknyeo”), or in English “Southern men [are handsomest], [and] northern women [are prettiest].”

Well, according to The Hankyoreh, at least one matchmaking agency has drawn some cartoons to expound their own stereotypes of apparently economically desperate North Korean women refugees looking for South Korean husbands to take them away from their destitution.

(Image from The Hankyoreh)

The blog Korea Exposé offers interesting English commentary:

A North Korean woman, alone in her cheap government housing, asks, “I want to get married. Where is my love?” She daydreams of being only in her underwear, straddling her ideal South Korean man, and calling out to him in affection, “My dear husband.”

That controversial advertisement by a matchmaking firm specializing in bringing North Korean defector women and South Korean men together was abruptly pulled late last month amid a firestorm of criticism at the way it depicted North Korean women as lonesome, sexually charged, and desperate.

Added bonus?  The same match making agency put out another cartoon explaining the, uh, “benefits” of having children with North Korean women:

(Image from The Hankyoreh)

No brown interracial children!

Open Thread: September 21, 2014

Lost Count + 1

MBC says Korean Tourism is “Shameful.”

The blog koreaBANG comes out with some good stuff every now and then.  Added bonus?  They translate some Korean reader comments into English.  Yesterday they outlined MBC’s exposé on how some tourists (namely from that country just across the Yellow Sea) were being “taken for a ride” and how it could be damaging Korea’s long-term reputation as a tourist destination.

Korean tourism has made great strides over the past ten years, from 4.8 million tourists (or “number of arrivals”) in 2003 to 12.2 million in 2013.  However, despite the growth, there is some evidence that Korea may not be getting a lot of value from the increased numbers.  Part of it is structural (i.e. lower income of Chines visitors vis-à-vis Japanese tourists, the rising value of the won, etc.), however, some of it may be due to unscrupulous Korean merchants.  According to the MBC report a lot of tourists are getting scammed, leaving a bad taste in tourists’ mouths and threatening Korea’s long-term tourism growth:

However, Korea may not be drawing as much value from their tourist numbers than they perhaps should.  According to the MBC report a lot of tourists are getting scammed, leaving a bad taste

The shop owner: “This jacket is 120,000 won. The price is so cheap compared to its high quality.” The Chinese man paid about 210,000 won for 3 pieces of clothing.

The journalist tried buying the same clothes in the same shop.

(Journalist: “How much is it?”)
Shop owner: “You can take it for 55,000 won, if you pay cash.” When the journalist bought the same clothes that the Chinese man did, the price was about 100,000 won cheaper.

[...]

… Police investigated a Korean restaurant for Chinese tourists only, qualified as an outstanding restaurant by Tourism Board Organization. In the kitchen they found food that had passed the expiration date, and even leftovers that had been stored in the freezer.

Police: “3 years has passed (since the expiration date), 3 years.”

The same problem is occurring with accommodations. Among 70% with quality credentials have been reported for not meeting the requirements of a quality guarantee. Organizations awarding these credentials can also not be trusted…

The government has decided to loosen many regulations in order to raise the number of foreign tourists to 20 million by 2017. However, people point out that the government should combine all the quality assurance systems into one, and run it well.

So, there could be some long-term issues with Korean tourism and greater infrastructure integrity needs to be maintained while the industry continues to grow.  So, who has Korea decided to have helm the ship in these challenging waters?  Well, one important appointee is a former actor named Johnny Yune.  Ah, Johnny.  A very colorful guy who’s Korean-American (i.e. he’s got a U.S. passport), got his big break when he appeared on The Tonight Show Starring Johnny Carson in the 1980s and starred in the comedy movie “They Call Me Bruce?” (a surprising hit movie making almost $17M in only 325 screens in 1982).  He also had his own talk show on some UHF channel called “The Johnny Yune Show.”  Wow, can’t make this stuff up!  Well, there’s always a chance that Johnny will pull a Reagan (another former actor) and perform better than expected.

A couple more interesting Korean tourism factoids:

  • Russians apparently spend a lot of money in Korea while they are visiting.  Apparently for “medical tourism” (yes, plastic surgery is counted in those “medical tourism” numbers).
  • As far as Korea’s tourism has come, its overall size is still small compared to the rest of the OECD. Korea’s direct tourism industry accounts for about 2% of the GDP, whereas the OECD’s average is 4.7%.  However, that isn’t the median (which is probably somewhere around 3.8 to 4.0%).  The outlier Greece has skewed the average a bit with its whopping 16% of GDP.  Wow, they sure are getting all they can out of some warm weather and some ancient ruins.

How happy are you?

It’s a simple question and one that Gallup-Healthways attempted to gauge by asking 133,394 people in 135 countries 10 questions (see page 106 for methodology).

The Global Well-Being Index includes the five elements of well-being:
• Purpose: Liking what you do each day and being motivated to achieve your goals
• Social: Having supportive relationships and love in your life
• Financial: Managing your economic life to reduce stress and increase security
• Community: Liking where you live, feeling safe, and having pride in your community
• Physical: Having good health and enough energy to get things done daily

Surprisingly, the happiest country in the world is one that was artificially divided in the last century:  Panama.   Measured by the percentage of respondents who self-reported as thriving in at least three categories, here’s the top 10:  Panama (61%), Costa Rica (44%), Denmark (40%), Austria (39%), Brazil (39%), Uruguay (37%), El Salvador (37%), Sweden (36%), Guatemala (34%), Canada (34%).  Buoyed by Latin America, the Americas self-reported as the world’s happiest region.  The United States came in 12th.

Blah, Blah, Blah… What About Korea?

Korea ranked 75th.  Only 14% of respondents self-reported that they were thriving in at least three criteria.  Korea’s ranking puts itself in the same neighborhood as Iraq, 73rd with 15%.

South Korea

Well-Being Element

Thriving (%)

Struggling (%)

Suffering (%)

Regional Thriving (%)

Global Thriving (%)

Purpose

14

46

40

13

18

Social

22

47

31

19

23

Financial

37

39

25

25

25

Community

24

63

13

25

26

Physical

17

65

18

23

24

Here are the rankings of other countries of interest in the region:  40 – Philippines (24%),  44 – Thailand  (22%),  53 – Mongolia (18%), 54 – Vietnam, (18%), 55 – Taiwan (18%), 64 – Japan (15%), 90 – China (12%), and 93 – Cambodia (11%).

The Five Elements and Demographic Analysis

Although “financial well-being is relatively strong among South Koreans, purpose well-being – which is often associated with the quality of available jobs in a country – is not.”   Only 14% of South Koreans self-report as thriving in purpose well-being, and 40% as suffering, “indicating that many residents do not feel fulfilled in their day-to-day activities.”

Avoiding the C-word and the other C-word, the report concluded about Korea that  “low purpose well-being may often reflect traditional  organizational patterns – such as tenure based promotion and pay systems – that fail to ensure workers are in the right roles and are well-managed. Employed South Koreans are no more likely than those who are not employed to be thriving in this element.”

The report also specifically noted that South Koreans, despite their high average life expectancy, find physical well-being a struggle with only 17%  self-reporting as thriving.  “This is particularly worrisome given that South Korea is aging faster than any other country in the OECD; strategies for preventing and addressing age related health problems will be increasingly important.   In fact, most significant differences between various demographic groups in South Korea are related to age. Fifty percent of Koreans age 45 and older are not thriving in any element, compared with 37% of those younger than 45. Perhaps most alarmingly, Koreans aged 45 and older are significantly less likely to be thriving in financial well-being (28%) than their younger counterparts (43%).”

I found interesting that respondents self-reported their subjective measure of happiness.  Is happiness, necessarily a subjective state, really better measured by economists’ objective measures of per capita GDP or PPP?  How about well-being?  What is no less disturbing however, is that Koreans self-reported “struggling” and “suffering” numbers.  I could not find reports from decades ago, but a nearly universal observed phenomenon is that although increases in income correlate with increases in happiness in the short-term, increased income does not significantly correlate with increased happiness in the long-term.  Welcome to the club, Korea.

Read the full report here or watch the minute and a half video.  Yeah, I probably should’ve mentioned the video first.

More on FATCA Compliance in Korea – America Still Has A Big Stick

If you American expatriates remember, back in March, we wrote a thread about the effect of the FATCA American tax law upon Americans living in Korea.  Between now and 2015 marks a transition period for foreign banks to comply with reporting guidelines issued by the US Government for reporting overseas income from Americans in Korea.  You may well ask why should the Korean Government and banks do the leg work for the IRS in America, well congress decided to issue an ultimatum to world banks “report to us or we will cut you off from the American market (congress has decided to punish foreign financial institutions that refused to surrender U.S. accountholder information by cutting off their access to critical U.S. financial markets) cite.

This means, to summarize, that beginning roughly now, any American with 10,000 USD in a Korean bank or at least 50,000 USD in assets (stock, trust, etc.) will be reported to the IRS in America. You may also think that this affects only Americans but NO – it directly affects Koreans, for example, today I sat in a certain major Korean bank and watched a Korean national open a new account and, to my compete surprise, one of the documents they signed was a FATCA compliance document – all in Korean – that confirmed that the bank customer was really a Korean citizen and not an American.

I would never have imagined that the US could or would insert themselves so deeply into the common affairs of citizens of a foreign country, to this extent; requiring them to sign a document stating that they are not American citizens!  This also explains why so many Americans were refused service from European banks this last year.

Legal pot, Samsung sneers, and thanks for the help, Korea

- In one of the most entertaining pieces I’ve read all year, the Korea Times reports that some Koreans in the United States—well, in Colorado and Washington State—are experiencing “culture shock” with legal pot:

”Two months after my family moved in to a new house, we found out our neighbor was growing pot in her backyard with the fan running 24 hours a day,” wrote one Korean resident of Colorado on a local Korean online forum.

”My family, including my two young children, had to smell pot all day and all night. It’s been so torturous that I listed the house for sale, but realtors tell me I’m out of luck as long as the marijuana garden is next door,” she added.

Hey, just be happy you weren’t living next to a meth lab.

David Kim, an official of the Korean-American Association of Washington, told the Korea Times that, “‘It’s a culture shock. No matter what advocates here say, for Koreans, marijuana has always been and probably always will be considered a bad drug.” Except, of course, that’s not actually true. And it’s reportedly still legal in North Korea.

– Samsung is finding much humor in Apple’s decision to “go big,” although there appears to be some disagreement within Samsung regarding what’s actually funny:

The Korea-based company immediately released ads mocking almost every element of Apple’s show. The ads were a little coarse around the edges, not offering the same wit as some of the excellent mocking ads that had emerged from its US wing.

It was instructive that Samsung’s US spokesperson released this terse statement about them: “The social videos were produced in Korea and are not part of the US marketing campaign.”

Some might have translated that as: “Aaaggh. There they go undoing all our hard work. Bloody corporate headquarters!”

Anyway, watch the videos on your own. Frankly, I liked the Korean-produced ones better, even if I’ll never use an Android device again.

Don’t expect much help from Korea in the fight against ISIS.

Open Thread: September 14, 2014

I’ve lost count.

« Older posts Newer posts »

© 2014 The Marmot's Hole

Theme by Anders NorenUp ↑