March 1st Movement Rallies in Seoul Concluded Safely Without Violence

▷ The March 1st Movement rallies in Seoul were completed without any violent incidents or illegal road occupations under the new ‘Rally Management Re-design’ system.

▷ Park Jeong-bo (박정보), the Commissioner of the Seoul Metropolitan Police Agency, expressed gratitude for the mature civic consciousness and noted that police manpower was efficiently reduced by half compared to previous similar events.

▷ While the overall demonstrations were peaceful, the police are currently reviewing legal action for two cases that violated noise level regulations.

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Three U.S. Soldiers Killed During ‘Epic Fury’ Operation Against Iran

▷ U.S. Central Command announced that three American service members were killed and five were seriously injured during the “Epic Fury” operation initiated by the Donald Trump (도널드 트럼프) administration.

▷ President Trump acknowledged the potential for casualties but emphasized that the military action is a noble mission carried out for the future of the region’s security.

▷ Meanwhile, the U.S. military dismissed Iran’s claims of striking the USS Abraham Lincoln (에이브러햄 링컨함) with missiles, stating that the projectiles did not even come close to the carrier.

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President Lee’s “War on Speculation” Triggers Price Drops in Gangnam and Yongsan

▷ Weekly apartment prices in Gangnam and Yongsan have turned negative for the first time in two years following President Lee Jae-myung’s (이재명) firm measures against real estate speculation.

▷ The market is seeing a surge in listings as multi-homeowners rush to sell their properties before the capital gains tax surcharge exemption expires on May 9 to avoid heavy taxation.

▷ Although prime locations are experiencing a downturn, experts remain cautious about a broader trend, noting that many other districts in Seoul still maintain an upward trajectory.

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Injured Inmate Left Without Medical Support as Prison and Contractor Dispute Responsibility

▷ Um Ji-eun (엄지은), an exemplary prisoner, suffered a severe crushing injury to her right hand while cleaning a high-pressure press at a Nonghyup processing plant just a month before her release.

▷ Although the injury may lead to permanent disability, both the Yeongwol Prison and Nonghyup are refusing to cover further medical expenses, shifting the blame to each other over contract interpretations and administrative procedures.

▷ While the police have referred the plant officials to the prosecution for professional negligence, Um remains in a desperate situation without receiving a proper apology or necessary financial support for her ongoing rehabilitation.

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Homeless Lawmaker Shin Jung-hoon Criticizes Colleagues Residing in Seoul While Representing Rural Districts

▷ Representative Shin Jung-hoon (신정훈) stands out as the only lawmaker among 250 surveyed who does not own or lease a home, living primarily in his National Assembly office.

▷ He criticized the hypocrisy of politicians who represent regional districts but live in Seoul’s wealthy areas, arguing that they cannot truly address regional extinction without sharing the local living conditions.

▷ Shin has proposed a bill requiring high-ranking public officials to place real estate, other than one primary residence, into a blind trust to prevent speculation and conflicts of interest.

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South Korea’s National Pension Recipients Expected to Exceed 8 Million This Year

▷ The number of National Pension recipients is projected to surpass 8 million this year, driven by a rapid aging population and the retirement of the baby boomer generation.

▷ According to the National Pension Service (국민연금공단), the interval for adding another million recipients has shortened significantly, with the 8 million mark expected to be reached in less than two years.

▷ Notably, the number of recipients aged 80 and older has topped 1 million for the first time, marking a sharp 128.8% increase compared to the end of 2020.

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Korea’s 2% Growth Forecast and Stock Market Surge Mask Deepening Economic Polarization

▷ The Bank of Korea raised its 2024 GDP growth forecast to 2.0% as the KOSPI index reached record highs, driven by a semiconductor super-cycle and AI investment expansion.

▷ However, Governor Rhee Chang-yong (이창용) warned of a “K-shaped” recovery, noting that while the IT sector thrives, non-IT growth remains stagnant at 1.4% with declining real consumer spending.

▷ Experts point out that fiscal measures and structural reforms are essential to address the widening gap between thriving export industries and struggling small businesses and households.

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Number of College Students Retaking Entrance Exam Expected to Hit 100,000 in 2027

▷ The number of “half-way” repeaters for the 2027 academic year is projected to approach a record high of 100,000, as students rush to take the exam before the major system overhaul in 2028.

▷ Lim Sung-ho (임성호), CEO of Jongro Academy, explained that top-tier students under the current 9-grade system may seek a second chance to avoid potential disadvantages when the grading scale shifts to a 5-grade system.

▷ Additionally, the expansion of medical school quotas by 490 seats through the regional doctor track is expected to further encourage students from prestigious universities to rejoin the entrance exam race.

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Police Launch Special Crackdown on Crimes Disrupting Consumer Prices

▷ The National Investigation Headquarters (국가수사본부) of the Korean National Police Agency has announced an eight-month special crackdown on crimes disrupting consumer prices, running from March 3 to October 31.

▷ The crackdown targets various illegal activities including hoarding, ticket scalping, illegal rebates in medical sectors, and unfair trade practices that worsen the economic burden on ordinary citizens.

▷ Police have established a dedicated task force to investigate these crimes and are offering a reporting reward of up to 500 million won to encourage public cooperation in restoring market order.

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Government to Launch Intensive Investigation into Illegal Farmland Speculation

▷ President Lee Jae-myung (이재명) ordered a comprehensive inspection and disposal orders for farmland not used for agricultural purposes, stressing the constitutional principle that land should belong to those who farm.

▷ According to official data, farmland area exceeding half the size of Yeouido is ordered for disposal every year due to illegal lease or speculation, with related fines steadily increasing.

▷ The Ministry of Agriculture, Food and Rural Affairs plans to conduct high-intensity special inspections in cooperation with local governments to root out speculation and restore the rational use of agricultural land.

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