Court Suspends Disciplinary Action Against Rep. Bae Hyun-jin

▷ The Seoul Southern District Court granted an injunction filed by Rep. Bae Hyun-jin (배현진) to suspend the “one-year suspension of party membership” imposed by her party’s ethics committee.

▷ This ruling allows Rep. Bae to immediately recover her party rights and return to her position as the head of the Seoul City Chapter, which holds significant authority over candidate nominations.

▷ The court indicated that the validity of the disciplinary grounds, specifically the alleged violation of child rights through social media posts, needs to be further examined in the main lawsuit.

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Ministry of Justice Gives Up Appeal on State Compensation for ‘Busan Roundhouse Kick’ Victim

▷ The Ministry of Justice decided to accept the first-instance ruling ordering 15 million won in state compensation to the victim of the ‘Busan Roundhouse Kick’ case.

▷ The court recognized the victim’s mental distress caused by an inadequate initial investigation that failed to identify the sexual assault intent until the second trial.

▷ Minister of Justice Jeong Seong-ho (정성호) expressed deep regret and offered a sincere apology to the victim, pledging to prevent similar occurrences by acknowledging the government’s responsibility.

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President Lee Jae-myung Orders Review of Oil Price Ceilings Amid Global Tensions

▷ President Lee Jae-myung (이재명) ordered a review of a maximum price designation system for gasoline to address soaring fuel prices caused by the Middle East crisis and to prevent unfair profiteering.

▷ Along with the fuel measures, he instructed the implementation of a 100 trillion won market stabilization program for stocks and foreign exchange, while clarifying that the government should not artificially prop up stock prices.

▷ Furthermore, the President suggested an aggressive transition to renewable energy to reduce the country’s dependence on fossil fuels, which are highly susceptible to global instability.

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KOSPI and KOSDAQ Surge with Record-Breaking Daily Gains

▷ The KOSPI soared 9.63% to regain the 5,580 level, marking its largest daily point gain in history, while the KOSDAQ set a new record with a 14.10% jump.

▷ Individual investors led the rally by net purchasing over 1.79 trillion won, buoyed by signs of easing Middle East tensions and a strong appetite for bargain hunting.

▷ Lee Kyeong-min (이경민), a researcher at Daishin Securities, stated that the market confirmed a psychological support level and achieved a dramatic rebound after factoring in the worst-case scenario.

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South Korean Government Dispatches Rapid Response Teams to Middle East Amid Rising Tensions

▷ The South Korean government is sending joint rapid response teams, led by Kwon Ki-hwan (권기환) and Lee Tae-woo (이태우), to Dubai and Oman to assist in the safe evacuation of its citizens.

▷ Korean nationals in high-risk areas like Iran and Israel are currently moving to neighboring countries such as Turkmenistan and Egypt with the support of local embassies.

▷ While monitoring the resumption of commercial flights at Dubai Airport, the government is also considering a “Plan B” to deploy charter flights if necessary.

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Gasoline Prices Surpass 1,800 Won; President Lee Considers Implementing Price Caps

▷ Domestic gasoline prices have surged past 1,800 won per liter for the first time in over three years due to Middle East tensions and anticipatory buying by consumers.

▷ President Lee Jae-myung (이재명) criticized the rapid price hikes as excessive and instructed the government to consider a “ceiling price system” based on the Petroleum Business Act.

▷ While Deputy Prime Minister Gu Yun-cheol (구윤철) vowed to crack down on unfair practices and collusion, the gas station industry emphasized that their thin profit margins make price reductions difficult.

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PPP Suspends Mapo Mayor Park Kang-su’s Party Membership for 6 Months

▷ The People Power Party’s Ethics Committee has issued a six-month suspension of party membership rights for Park Kang-su (박강수), the Mayor of Mapo-gu, citing a violation of conflict of interest regulations.

▷ Mayor Park had filed a lawsuit to cancel a government order to place 80,000 shares of family-owned media stocks, valued at approximately 3.5 billion KRW, into a blind trust, but he ultimately lost the case at the Supreme Court last year.

▷ The committee stated that the Mayor’s failure to take action even after the final court ruling risks damaging the party’s image and does not align with public sentiment regarding the ethical standards of public officials.

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Former Correction Chief Refuses to Testify in Ex-Justice Minister’s Insurrection Trial

▷ Shin Yong-hae (신용해), the former head of the Korea Correction Service, refused to provide testimony at the trial of former Justice Minister Park Sung-jae (박성재), who is accused of engaging in important duties of insurrection.

▷ Shin, who is also under investigation as a suspect, is alleged to have reported that 3,600 additional people could be detained in correctional facilities and ordered the review of emergency parols to secure space during the December 3 martial law.

▷ Throughout the hearing, Shin consistently remained silent on specific questions regarding his KakaoTalk logs and involvement, leading the court to schedule the next hearing for March 9 with other key witnesses.

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U.S. Seeks to Purchase Low-Cost Ukrainian Drones to Counter Iranian Threats

▷ The U.S. Department of Defense is in negotiations with Ukrainian defense industry officials to acquire affordable interceptor drones to counter Iranian-made Shahed drones in the Middle East.

▷ This move aims to address the soaring costs of warfare, as the current use of Patriot missiles costing $13.5 million each to intercept drones valued at only $30,000 is becoming financially unsustainable.

▷ Ukraine has developed proven tactics using high-speed, low-cost interceptor drones to chase and destroy enemy drones, providing a strategic alternative that allows expensive missiles to be reserved for higher-priority targets.

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MOTIE to Launch Undercover Inspections on Illegal Petroleum Distribution Starting Tomorrow

▷ The Ministry of Trade, Industry and Energy will conduct more than 2,000 undercover and nighttime inspections per month on high-risk gas stations to crack down on unfair trading and illegal fuel distribution.

▷ This measure comes as domestic oil prices have surged due to instability in the Middle East, with Yang Gi-uk (양기욱), head of the Industrial Resources Security Office, emphasizing that illegal activities profiting from public anxiety will not be tolerated.

▷ The government also plans to monitor inventory levels and coordinate with the petrochemical industry to ensure a stable supply of imported naphtha amid the volatile global energy market.

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