South Korea's national debt reaches an all-time high.

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 👀 Today’s Email about:

• South Korea's national debt reaches an all-time high.

• Rising concerns over the increasing occurrence of sinkholes in roads.

• "Good Partner" attracts a young audience, leading to a surge in ratings.

NEWS 📰

South Korea's national debt reaches an all-time high

1. National Debt on the Rise: Despite efforts by President Yoon Suk-yeol's administration to curb government spending, South Korea's national debt is projected to reach 1,277 trillion won ($955.9 billion) by the end of 2024. The rise in debt is fueled by tax revenue shortfalls and a sluggish economy, challenging the administration’s fiscal austerity measures.

2. Automaker Strikes Impact Production: Major South Korean automakers, including GM Korea, are experiencing significant production disruptions due to ongoing labor strikes and stalled wage negotiations. Approximately 30,000 vehicles are at risk, threatening both vehicle exports and the industry’s global competitiveness.

3. Logistics Center Market Recovery: South Korea's logistics center market, previously slowed by oversupply and economic concerns, is bouncing back. Investor interest is growing, spurred by reduced supply, stabilized loan rates, and increasing demand from Chinese e-commerce companies like AliExpress and Temu. Recent acquisitions by KORAMCO and IGIS Asset Management highlight a trend of purchasing high-quality logistics centers at discounted prices.

Rising concerns over the increasing occurrence of sinkholes in roads

Drivers and road authorities in Seoul are increasingly alarmed after a car was swallowed by a sinkhole on Thursday, followed by road subsidence nearby just a day later. The incidents have sparked fears about the safety of the city's roads and the potential for more severe accidents.

On Friday, the Seoul Metropolitan Government reported a slight sinkage in a road in Yeonhui-dong, Seodaemun District, about 100 meters from the previous day's sinkhole. The sinkhole, which was 6 meters wide, 4 meters long, and 2.5 meters deep, injured an elderly couple in their 80s. The driver suffered broken ribs, while his wife remains unconscious in intensive care after being revived from cardiac arrest.

Authorities have restricted traffic in the area and are investigating the cause, which could be aging drain pipes, nearby construction work, or soil erosion from heavy rainfall. Although gas and water supply pipes run beneath the affected area, no leaks were reported.

City officials emphasize their road safety commitment and conduct regular searches for underground holes. Public anxiety is growing, especially in areas with ongoing construction, as residents demand more thorough inspections to prevent future accidents.

According to data from the land ministry, 957 sinkholes were reported nationwide between 2019 and 2023, highlighting the widespread concern.

ENTERTAINMENT 🌄

"Good Partner" attracts a young audience, leading to a surge in ratings.

The TV series "Good Partner" is rapidly gaining popularity, with viewership doubling from 7.8% at its July 12 premiere to 17.2% by its latest episode. Initially, expectations were low due to the writer being a newcomer and the genre's previous struggles, but the show has surprised many by approaching divorce from a fresh perspective.

Unlike past dramas that focused on extreme situations leading to divorce, "Good Partner" explores the concept of "how to divorce well." It presents complex, nuanced stories, like a mother relinquishing custody for her children's well-being, without casting judgment. The drama also highlights workplace conflicts and generational clashes, resonating particularly with viewers in their 20s.

The series was written by Choi Yu-na, a divorce lawyer who began the project as a webtoon in 2019. She juggled her legal career and family responsibilities while crafting the script over five years. The show reflects a growing trend in K-content, where divorce-themed dramas are increasingly popular, driven by societal changes and the normalization of divorce. However, while these dramas offer deeper explorations of marital issues, some critics argue that reality shows on the same topic often oversimplify and sensationalize these complex issues.

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