The Squid Game cryptocurrency, N Korea’s food shortage is getting bad, and KT lapses on change control
Happy Halloween! (and last chance to get your survey responses in!)
K-NEWS BITES
Sat 2021-10-30 (KST)
NTS to Provide Simplified Year-End Tax Adjustment Files to Employers (1 min read)
“Starting this year, the state tax agency will provide simplified year-end tax adjustment documents to employers, rather than requiring employees to submit the files themselves. According to the National Tax Service(NTS) on Friday, the documents will be sent to employers upon employees' request and consent to information sharing… The tax agency expects the new service to reduce the time workers spend each year on collecting and submitting the documents.”
Teenager riding e-scooter without helmet dies after running into utility pole (1 min read)
“A teenager riding an e-scooter without a helmet has died after ramming into a utility pole while racing downhill in Seoul, police said Friday… After sustaining injuries to the head, he was given cardiopulmonary resuscitation and rushed to a nearby hospital but died, according to the police... He had a motorcycle driving license and was not under the influence of alcohol, and no helmet was found at the accident scene… According to official data, the number of accidents involving e-scooters more than tripled between 2018 and 2020.
Korea moves on from its ‘pandemic success formula’, bets on vaccinations (3 min read)
“The changes coming into effect from November mark a departure from Korea’s unique response measures that made the country a COVID-19 success story, and medical experts say they are worried… While the government set the bar for reintroducing the restrictions as [75] percent full intensive care beds, infectious disease expert Dr. Lee Jacob called for it to be lowered, and said that was ‘too risky… waiting until 80 percent of intensive care beds around the country are filled up is not going to be safe.’”
[Update] Eased Time Restrictions to Apply from Monday Morning to Prevent Halloween Clusters (1 min read)
“Fearing possible COVID-19 clusters due to Halloween, the government has decided to slightly delay lifting the business curfew on Monday in the Seoul metropolitan area. With the nation set to start the first phase of the transition into living with COVID-19, new guidelines were set to start at 12 a.m. on November 1, according to health ministry official Son Young-rae on Friday. However, due to infection risks related to Halloween which falls on Sunday night, Son said the government accepted suggestions made to delay the time of actual application to 5 a.m. Monday.“
New virus cases over 2,100 for 2nd day as relaxed virus curbs set to take effect (2 min read)
“The country added 2,124 fresh COVID-19 cases, including 2,094 local infections, raising the total caseload to 360,536, the Korea Disease Control and Prevention Agency (KDCA) said… The death toll rose by nine to 2,817. The fatality rate stood at 0.78 percent… The ‘vaccine pass’ system, which requires visitors to have a vaccination certificate or negative test result, will be introduced for high-risk facilties, including bars, nightclubs and indoor gyms, with a grace period of one or two weeks.” More information about the ‘Living with COVID-19” scheme can be found in the article.
General COVID Information for residents in Korea:
Ministry of Health and Welfare, South Korea
Coronavirus Statistics for South Korea
There's now a 'Squid Game' cryptocurrency - and it's jumped over 25000% in under a week (1 min read)
“Netflix hit ‘Squid Game’ has extended its reach into the cryptocurrency sphere with the SQUID token - and it's already up well over 20,000% this week, according to CoinMarketCap… It's a ‘play-to-earn’ cryptocurrency. SQUID holders can take part in online games inspired by games in the show. Entry fees are charged in SQUID - 10% of which go to the developers, and the rest is invested back into the reward pool.”
Dying to Deliver: Overworked in South Korea (26 min video)
“Demand for home deliveries in South Korea has skyrocketed during the COVID-19 pandemic. In a country with the longest working hours in the developed world, the packages keep piling up, and it is pushing delivery workers to the brink of their endurance. They are clocking up 16-hour days, and if they fall behind, they must pay late fees. Since the pandemic began, 21 delivery drivers have died. Death by overwork is so common, there is even a term for it – Kwarosa. 101 East investigates why South Korea’s workers are dying to keep its delivery system running.”
NIS: N. Korea in Serious Food Shortage, Lacks Paper, Ink to Print Money (1 min read)
“After the audit, Reps. Kim Byung-kee and Ha Tae-kyeung quoted the NIS as saying that the North Korean leader said he feels he is walking on thin ice due to the economic situation. Kim reportedly ordered all who eat to go help farming villages… He added that the North's central bank is having difficulties printing money due to suspended imports of paper and special ink and is issuing temporary currency. The NIS also said the lack of medicine and essential supplies has accelerated the spread of infectious diseases such as typhoid fever.”
North Korea’s Food Shortage Is a Lesson for US Policymakers (4 min read)
“The North Korean food shortage presents a unique case to the U.S. policymakers. It is an opportunity to study the impact of a hypothetical ‘perfect sanctions regime’ on North Korea – it is very unlikely that any international sanction effort could be as complete as North Korea’s self-isolation since January 2020. First and foremost, the lesson is that the Kim regime is incredibly resilient. Despite this severe isolation and food shortage, there is no sign of North Korean collapse. There is also no report on institutional breakdowns as seen during the 1990s famine.”
'Subcontracted employee's mistake caused network outage' (2 min read)
“A mistake by an employee of a firm KT outsourced for its routing work was to blame for the nationwide network disruption earlier this week, the Ministry of Science and ICT said Friday… The telecom company stated in the days following the network failure that a routing error was the cause and that the large-scale disruption was the result of work that was performed during the day instead of when it was supposed to have been carried out ― at night when there is less network traffic.”
E-commerce grocer Market Kurly seeking domestic IPO (1 min read)
“South Korean online grocery delivery platform Market Kurly said Friday it aims to go public in the domestic market in 2022 as part of efforts to help hone its competitiveness… Market Kurly had originally pushed to debut on the U.S. equity market but changed its plan as South Korean authorities eased listing requirements to lure companies with great growth potential… The rule change came as e-commerce giant Coupang and other unicorns, or unlisted startups with a valuation of more than 1 trillion won, sought to win listings on the U.S. stock market.”
Self-proclaimed prophet and maverick, ridiculed by others, makes 3rd presidential bid (3 min read)
“... clad in a Joseon-era general's suit of armor, a longsword in hand, Huh Kyung-young, honorary chief of a little known political party, showed up on horseback… to declare his presidential bid.” Some of his pledges include, “newlywed [couples to be given] 100 million won each as a subsidy, plus another 200 million won as a no-interest loan to help them buy a home. Giving birth will bring in another 50 million won per baby.” To fund these promises he plans to collect “anti-tax evasion taxes" if he becomes president.
Oscar-winner Youn Yuh-jung to Receive S. Korea's Highest Cultural Honors (1 min read)
“The South Korean government will award the Geumgwan Order of Cultural Merit to Academy award-winning actress Youn Yuh-jung… Youn, who became the first Korean actor to win an Oscar with a Best Supporting Actress title for the film ‘Minari,’ will receive Gemgwan, the highest honor given to those working in the field of arts and culture.”
Thanks for reading! Feel free to spread the word by forwarding this email to your friends! (or hit the share button below).
If you’re new to K-News Bites, you can subscribe by hitting the button below:
GamSaHabNiDa! 🙇