Presented by Unravel Korea

Good Morning: Korea is nice with the beauty of the creator. Now winter is running ( -5 to 7C) up and down. It’s good weather to enjoy the beauty of Seoul and other parts of Korea. Have a nice day!

• Markets: Sk Hynix increased over the year in 2024, but it has also dropped over the past three months. Naver is doing significantly well, having increased by nearly 30% in the year.

Economy 📰

Martial law makes a huge blow to Korean Economy

The Korean stock market is experiencing ongoing weakness due to heightened political and economic uncertainty following President Yoon Suk Yeol’s declaration of martial law on December 3 and the National Assembly's failure to impeach him. The opposition has vowed to introduce weekly impeachment motions until one passes, deepening investor unease.

While analysts note that investor sentiment is fragile and susceptible to volatility, they caution against panic selling, as the market is already at historic lows. Key risk indicators, such as the credit default swap (CDS) premium and foreign currency bond spreads, have not shown significant spikes but are rising gradually, warranting close monitoring.

Drawing parallels to Park Geun-hye's 2016 impeachment, analysts suggest that while a sharp rebound is unlikely, any further decline is expected to be limited. Market activity may become sector-specific rather than affecting the entire index. Investors are advised to take a cautious approach, opting for staggered buying or holding positions rather than selling off assets.

Financial authorities and the Korea Exchange (KRX) are strengthening measures to prevent market manipulation and investor panic. The results of the U.S. Federal Open Market Committee (FOMC) meeting on December 18 could also influence volatility, with authorities maintaining close coordination to ensure market stability.

Presented By Unravel Korea

Concerned? Where to go and what are the weather conditions in Seoul? No problem, unravel korea is here to figure out and give the best examples of hacks and tricks to discover the hidden gems in Korea!

The best place to do in December in Korea:

1. Seoraksan National Park

2. Hwaseong Fortress, Suwon

3. Everland Theme Park.

4. Namsan Seoul Tower

5. Jagalchi Fish Market, Busan

PS: In December, Seoul, and outside Seoul is a very cold wind and sometimes snowfall! make sure you have clothes for very cold weather (-5C - 5C average temperature)

Important

Travelling has been banned after a martial law attempt

South Korean authorities have imposed a travel ban on President Yoon Suk Yeol, who is under investigation following his brief declaration of martial law last week. Although Yoon narrowly avoided impeachment due to his ruling People Power Party (PPP) boycotting the vote, he agreed to shorten his term and refrain from political involvement, a move criticized by the opposition Democratic Party as unconstitutional and akin to a coup.

The fallout has sparked widespread protests, with tens of thousands calling for Yoon's resignation. Several high-ranking officials linked to the martial law order have faced consequences. Former Defense Minister Kim Yong-hyun, who reportedly proposed the declaration, was arrested after resigning and apologizing. Travel bans have also been imposed on Kim and other key military figures.

Amid mounting pressure, several officials have resigned, including Interior Minister Lee Sang-min and senior aides from Yoon's office, who stepped down en masse following the lifting of martial law. The situation continues to fuel political turmoil and public outrage in South Korea.

Entertainment

Lee Jung denaies illegal trading!

Actor Lee Jung-jae and his agency, Artist Company, have denied allegations of involvement in financial misconduct following media reports of an investigation into unfair stock transactions. The controversy centers on Lee and fellow actor Jung Woo-sung's acquisition of shares in Wider Planet (now Artist United) last year, which led to their becoming major shareholders.

The company saw its stock value skyrocket after being linked to Lee's high school connection with ruling People Power Party leader Han Dong-hoon, earning it the label of a "Han Dong-hoon theme stock." Authorities are reportedly investigating whether stock prices were manipulated for financial gain. However, Artist Company insists neither Lee nor the agency is under investigation, adding that Lee was not involved in insider trading or information leaks.

The agency also pledged to take legal action against any confirmed instances of insider trading or leaks following its internal investigation, emphasizing its commitment to protecting shareholders.

The allegations have already affected market performance, with Artist United's share prices plunging nearly 20% on Friday. Artist Company has vowed to actively address the issue to clear misunderstandings and restore investor confidence.

Living in Korea

Buy a blanket

Last winter, my friend and I experienced our first time in Seoul, staying in an apartment. Coming from Bangladesh, we weren’t used to the cold weather in Seoul and had never seen snowfall before. Naturally, we were excited and enjoyed the snow a lot at first.

However, the real challenge began when the temperature dropped below 0°C. The extreme cold caused the tap water to freeze, which meant we couldn’t take a shower for about a week! 🤣

Eventually, the apartment owner visited us and explained that we should keep the tap water running slightly and always use the heater to keep the room warm.

We followed their advice and kept the heater on all the time. Unfortunately, this led to an incredibly high gas bill—around $500 in just two months, which was shocking for us!

Tips for Surviving Winter in Seoul:

1. Use the heater wisely: Only turn it on when necessary, such as when taking a shower or during extreme cold.

2. Invest in an electric blanket: It keeps you warm at night, saves energy, and is much cheaper to use than the heater.

With these small changes, you can stay warm and avoid hefty utility bills while enjoying winter in Seoul!

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