1. Politics: First Lunar New Year in Impeachment Crisis - Families Divided
South Korea is facing its first Lunar New Year amid the impeachment crisis of President Yoon Suk-yeol. Political disagreements within families are expected to intensify during holiday gatherings. Younger generations are more supportive of impeachment, while older generations remain critical, causing a noticeable generational divide.
Experts emphasize the importance of avoiding heated political discussions during family gatherings and focusing on mutual respect. They advise families to prioritize harmony and understanding during the holiday season.
Holiday gatherings should serve as an opportunity for unity, not division. Families are encouraged to approach conversations with empathy and open-mindedness.
2. Economy: Financial Authorities Prompt Banks to Cut Loan Rates
South Korea’s financial authorities have urged major banks to lower loan rates, resulting in reductions from Woori Bank and KB Kookmin Bank. Starting January 31, Woori Bank will cut interest rates on housing loans by up to 0.29 percentage points, while KB will reduce rates for key loan products from January 27.
Woori Bank’s adjustments include reductions of 0.20 percentage points for apartment mortgage loans, 0.01–0.29 percentage points for leasehold loans, and 0.23 percentage points for credit loans. KB Kookmin Bank will reflect declines in market rates on its fixed-rate loans, lowering rates to 3.82–5.22%.
Financial authorities emphasize that these measures are necessary to help citizens feel the effects of recent base rate cuts. Experts predict that other banks will soon follow suit, providing further relief to households.
3. Society: Is Wage Reduction for Post-Retirement Work Justified?
As retirement ages are extended, wage reductions for older workers are becoming a common practice. Companies argue that lower wages help manage costs, but labor unions claim this constitutes age-based discrimination and violates the principle of equal pay for equal work.
The issue has sparked broader societal debate, with experts calling for clear policies to balance retirement age extensions and fair labor practices. Ensuring the sustainability of extended retirement policies while maintaining workers’ rights remains a critical challenge.
4. International: Trump Issues 60 Executive Orders Without Trade Tariffs
U.S. President Donald Trump signed 60 executive orders during his first week in office. Unlike his previous term, these actions avoided aggressive measures such as trade tariffs. Analysts suggest this reflects a strategic adjustment to recalibrate policies and rebuild international relations.
Trump’s measured approach has drawn attention, with expectations for further developments in his administration's trade and economic policies.
5. Lifestyle: Lunar New Year Pet Sitting Jobs Gain Popularity
Pet sitting services have become highly sought after during the Lunar New Year as more people travel for the holidays. From feeding and walking pets to offering full-time care, demand for such services is surging.
This trend highlights the growing pet culture in South Korea, with platforms actively connecting pet owners and caregivers. Experts advise pet owners to select trusted services to ensure their pets receive proper care during their absence.
