Several Gas Stations And Car Repair Shops In Seoul Closed This Year

I noticed that about three gas stations and around five car repair shops have closed in Seoul. There are plenty more, but it seems to be a trend as I also see a lot of electric vehicles, which have a different color license plate.

The Seoul City government has been giving out low interest loans to develop real estate in the old parts of Seoul with old and worn out houses and buildings. 

Several neighborhoods have been renovated with new buildings and apartments. 

Even some of the old houses and building in my neighborhood have been turned into condominiums, townhouses and apartments.

These were built when property prices in Seoul were rapidly rising. Now, they are rapidly falling. 

One of the studio apartment buildings charges too much for rent and has been completely vacant for a year now. I wonder if the owner will ever decide to lower the rent. Probably rich enough to wait it out indefinitely. 

Lots of vacant apartments and office space in Seoul these days. Some have started to lower rent prices slightly. 

An Injection To Stop Growth Of Fat Cells?

That could lead to people consuming and wasting too much food.

Scientists found a chemical that attaches to fat cells and keeps them from growing too big,

Testing it on humans. Applications for other medical uses.

Positively charged nanomaterials treat obesity anywhere you want

Prez Yoon Stops Daily Brief Q&A With Press And Approval Rating Goes Up

As predicted, Yoon's approval rating went up to the low to mid-thirty percent range depending on poll after he stopped the informal daily brief meeting with reporters on his way to work at the entrance of the building.

Wonder if he will continue to stop?

Prez Yoon & Conservative Party Slander Opposition Party And Expect Cooperation?

Yoon and the conservative party has accused the Democratic Party of being criminals, commie lovers, corrupt and even has the ministry of justice investigating everyone and their families.

And now they ask the Democratic Party for cooperation on passing next year's budget in the parliament but won't compromise?

The leader of the Democratic Party stated that if the ruling party isn't willing to negotiate the budget, the Democratic Party will have no choice but to make amendments to the budget and approve it unilaterally with their majority in the parliament.

Korean Prez Stops Daily Morning Q&A With Reporters

It has been a week since Yoon stopped the Q&As.

S. Korean presidential office installs wall blocking reporters after halting informal Q&A sessions

Hope his underlings don't realize that stopping the daily Q&As will help his approval rating.

There is a regulation for insurance companies, like Samsung Life Insurance where assets, like shares of Samsung Electronics, are valued at their purchased price instead of current price. This regulation helps Samsung Chairman Lee maintain control of Samsung Electronics, while he only holds a 1.63% stake. 

Samsung Life Insurance and Samsung C&T Corporation hold 8.5% and 5% stakes, respectively, in Samsung Electronics. Other group companies also hold stakes in Samsung Electronics. 

Lee holds a 10% stake in Samsung Life Insurance. Other group companies also hold stakes Samsung Life. Through these stakes in controls Samsung Life Insurance which has an 8.5% stake in Samsung Electronics. Lee's 10% stake in Samsung Life Insurance is worth KRW 1.4 trillion (about USD 1 billion), while the 8.5% stake in Samsung Electronics that it holds is worth over KRW 30 trillion.

Anyway, if the regulation is changed, then due to other regulations, Samsung Life Insurance will have to sell a 5% stake in Samsung Electronics within seven years, at most. 

The bill to revise the regulation is being discussed in committee meetings. If the bill passes, then it will be sent for vote to the parliament. 

Samsung has managed to prevent this bill from being voted on twice before since 2017. While the ownership structure of Samsung Electronics will remain basically the same, the bill could slightly reduce Lee's hold on the company.

삼성생명법' 이번엔 진짜?

Korean Media Says Millionaires Are Not Rich

Korean media states the comprehensive real estate tax (tax on multiple residences or a single residence valued at more than $2 million or so) is not just a tax on the rich anymore and that it is being imposed on over a million people.

Korea has relatively low real estate tax. So, they created a comprehensive real estate tax in an attempt to make the rich pay some taxes. 

The mostly conservative media, run by people who probably pay a comprehensive real estate tax, are complaining that the tax is unfair, a burden on ordinary citizens, depressing real estate market prices, and such.

Hope the majority opposition party (liberal) puts a stop to any proposals to reduce taxes. :)

My home is valued at way under $2 million.

Apparently Lots Of Koreans With Tons Of Money

There are a lot of poor South Koreans but there are lots with money to burn.

So restaurants, shops and other businesses cater to these people who need something to do to pass time and can pay ridiculous amounts for snacks, drinks, and such.

Used to spend a lot of money, but it was usually entertaining for business and on business trips.

I got one more free flight to Europe or North America using airline mileage. Trying to use it all up before I die. Almost done. 

After the war, land in Korea was 'dirt' cheap. Now, that land is very valuable, a source of tax revenue and the like. 

All that inflated wealth is sometimes interpreted as inflation. Imagine if the US Fed was in charge of Korea during those inflationary years.

Ridiculous real estate prices and exploding stock market?