Gadeokdo Terror TF Summons Former Prosecutor Kim Sang-min as Suspect

▷ A police task force reinvestigating the stabbing of President Lee Jae-myung (이재명) summoned former prosecutor Kim Sang-min (김상민) as a suspect to investigate allegations of forging public documents.

▷ Investigators are looking into whether there was external pressure or attempts to downplay the case when Kim (김) drafted a report stating that the attack was difficult to classify as terrorism.

▷ While Kim claims the probe is “political retaliation” without legal grounds, the task force is expanding its investigation into potential mastermind behind the incident following its recent re-designation as a terrorist attack.

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Police Investigate First Suspect in National Tax Service Crypto Leak Case

▷ The National Tax Service (국세청) accidentally exposed a mnemonic code in a press release, resulting in the leak of 4 million PRTG coins valued at approximately 6.9 billion KRW.

▷ The first suspect surrendered to the police and has been investigated, with the stolen assets in their possession being successfully returned to their original state.

▷ Police are currently tracking the identity of a second suspect and are in the process of recovering the remaining assets that have been frozen.

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Iran Blocks Strait of Hormuz, Triggering Global Oil Spikes and Domestic Economic Risks

▷ Following airstrikes by the US and Israel, Ebrahim Jabbari (에브라힘 자바리), an aide to the commander of Iran’s Revolutionary Guard, announced the closure of the Strait of Hormuz, causing Brent crude prices to jump as much as 13%.

▷ The blockade threatens the global energy supply as the strait handles about 20% of maritime oil shipments, including 1.7 million barrels per day destined for South Korea.

▷ However, analyst Jang Ji-hyang (장지향) suggests that a prolonged closure is uncertain because it would also prevent Iran from exporting oil to China, its primary buyer, causing severe self-inflicted damage to its own economy.

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Experts call for a comprehensive response to increasingly complex U.S. tariff policies

▷ Yeo Han-koo (여한구), the Minister for Trade, convened a meeting with experts to analyze the impact of multi-layered U.S. tariff structures, including Sections 122 and 301, on Korean industries.

▷ Participants emphasized that South Korea must look beyond individual tariffs to consider global supply chain reorganization and the overall direction of U.S. industrial policy.

▷ The government plans to launch a pan-government response system to prioritize national interests and enhance business predictability through close consultations with U.S. authorities.

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Former City Councilor Kim Gyeong Attends Warrant Hearing Over 100 Million Won Graft Scandal

▷ Former Seoul City Councilor Kim Gyeong (김경) attended a court hearing today on charges of providing 100 million won to independent lawmaker Kang Sun-woo (강선우) in exchange for election nominations.

▷ While Kim has reportedly admitted to the charges by submitting a letter of surrender, Representative Kang denies the allegations, claiming she returned the money as soon as she realized the contents of the bag.

▷ The court is expected to decide whether to issue arrest warrants for both individuals by late tonight or early tomorrow morning following the completion of their respective hearings.

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KOSPI Defends 6,100 Level as Retail Investors Buy 1.3 Trillion Won Amid Iran Crisis

▷ The KOSPI index fell to the 6,081 level following U.S. airstrikes that killed Iran’s supreme leader Ayatollah Ali Khamenei (아야톨라 알리 하메네이), but managed to recover to the 6,100 range.

▷ Retail and institutional investors purchased 1.3 trillion won and 580 billion won worth of shares respectively, showing a strong “buying the dip” trend despite the escalating geopolitical risks.

▷ While major tech stocks saw their losses narrow, defense companies such as LIG Nex1 and Hanwha System surged, and international oil prices jumped more than 6% due to the tension.

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Prime Minister Kim Min-seok Calls for Vigilance Amid Volatile Middle East Situation

▷ Prime Minister Kim Min-seok (김민석) instructed all government ministries to maintain high tension and perform their duties without gaps in response to the recent attacks on Iran by the U.S. and Israel.

▷ He emphasized that the government is mobilizing all resources to ensure the safety of Korean citizens and urged officials to share information transparently to prevent excessive public anxiety.

▷ Additionally, the Prime Minister highlighted the importance of follow-up measures for President Lee Jae-myung (이재명)’s state visits to ASEAN and ordered thorough safety inspections for the new school semester and spring season.

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Minister nominee Park emphasizes fiscal efficiency and bipartisan cooperation

▷ Park Hong-geun (박홍근), the nominee for Minister of Planning and Budget, stated that while active fiscal roles are necessary for a national transition, the budget must be executed efficiently at the right places.

▷ He emphasized the importance of restructuring unnecessary spending to revitalize the livelihoods of ordinary people and building clusters for ultra-innovative economies such as AI and robotics.

▷ Park (박홍근) also highlighted the need for bipartisan fiscal cooperation, asserting that the National Assembly’s right to review the budget should be respected during the process.

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Supreme Court Vacancy Becomes Reality as Chief Justice Cho Consults with Presidential Office

▷ Chief Justice Cho Hee-dae (조희대) stated that the Supreme Court is currently coordinating with the Presidential Office regarding the nomination of a successor following the retirement of Justice Noh Tae-ak (노태악).

▷ Although four candidates were recommended by the committee over a month ago, the official nomination has been delayed, which is considered unusual compared to the typical two-week process.

▷ Chief Justice Cho also addressed concerns about judicial trust, highlighting that South Korea’s judiciary maintains a higher trust level compared to the U.S. and is highly evaluated by international organizations like the World Bank.

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TK Political Leaders Urge Rapid Passage of Special Act for Administrative Integration

▷ Political leaders from Daegu and Gyeongbuk, including Governor Lee Cheol-woo (이철우) and Acting Mayor Kim Jeong-gi (김정기), held a press conference at the National Assembly to demand the passage of the administrative integration act.

▷ Supporters emphasize that the integration must be finalized before the June local elections to address regional extinction and ensure administrative consistency following the legislative success of the Gwangju-Jeonnam integration.

▷ While March 12th is viewed as the final deadline, further delays could hinder essential practical preparations, such as integrating telecommunications networks and organizing the election for a unified local government head.

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