Seoul Village Season XIX

At long last, Korea's miserable month of December 2024 is over. You'd think it'd be hard to top two presidential impeachments sandwiched between two major disasters (YOON Suk-yeol's short-lived martial law and Jeju Air's tragic plane crash), but 2025 doesn't bode very well either for a nation on the ropes. 

Whoever is the next president will have a hard time rebuilding hope and trust at home as well as overseas, provided that's on their menu.

In the short term, acting president CHOI Sang-mok is unlikely to achieve anything significant and until the elections at least, the opposition is unlikely to contribute to reviving an anemic economy it's been undermining for years. As for the long term. this Dark December most probably annihilated that recent, timid demographic uptick (belated COVID rebound?) as radically as those politically motivated budget cuts sacrificing Korea's future growth engines (goodbye innovation and quantum computing).

Korea's competitive edge and survival are also at risk with the return of Trump to the White House.

In the 1991 blockbuster Terminator 2: Judgement Day, Arnold Schwarzenegger returned as a force of good in total contrast with a first opus where he pretty much destroyed everything. But that's fiction and in Trump's T2, The Donald is unlikely to fundamentally change characters. Actually, DJT already hired 'Dark MAGA' Elon Musk for the role of Robert Patrick: T-!000, a fitter, slicker, updated version of the bulletproof killing machine programmed to help Skynet / Space X control the World. Anyway, doomsday scenario or not, this sequel promises to be less boring than Kamala Harris' short-lived B2: Statu Quo.

Both sides of the DMZ are watching closely.

KIM Jong-un knows he can't trust Trump, and he's already busy with another transactional buddy, Vladimir Putin. With his 'Juche Line' and 'Sunshine Line' in tatters, KIM somehow balances the 'Beijing Line' with a 'Kremlin Line' that provides oil, currencies, and statesman credentials against disposables (weapons and cannon fodder). 

Whoever is in charge in Seoul, lines will change and the US military presence of South Korea will be reevaluated by a man who already proved he could betray and abandon brothers in arms (ask the Kurds and Afghans if they believe one second Trump's commitment to Koreans is ironclad). We know Trump wants to withdraw, and that Mike Pompeo advised him (as Mark Esper revealed) to delay such a risky move to his second term. We know that this time he'll be surrounded by incompetent yes-men in the White House and in a greater section of Congress. We also know that Marco Rubio wouldn't be okay with abandoning Asia to China, but that he won't be calling the shots...

Should LEE Jae-myeong become the next president, he could even accelerate the withdrawal process. And he certainly wouldn't compensate with a NATO style alliance with Japan and Taiwan, like the one floated here and there as a second Trump mandate looked inevitable.

But LEE himself is a very transactional guy, and he could sing Trump a different kind of serenade than the one YOON sang to Biden. 

Besides, Korea Inc have more than a few chips on the table. Samsung, SK Hynix and Co. also fear another kind of withdrawal: the subsidies guaranteed under Joe Bden's CHIPS act. CHEY Tae-won already warned SK might reconsider its massive investment in Indiana, where both senators are Republicans... like in Texas, where Samsung extends its Austin plant and builds a new one in Taylor...

At worst very conflictual, at best very transactional, this year of the blue snake looks pretty sneaky. 

Nonetheless, let's wish ourselves a happy new year 2025.

"#Trump returns. To #KyoboBookstore, #Seoul:" (20241129 post by Seoul Village on Bluesky)

Seoul Village 2025
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