1. Economy: Concerns Over a Global Trade War Drive the Won-Dollar Exchange Rate Higher
Amid rising concerns over a global trade war, South Korea's foreign exchange market experienced sharp fluctuations. On February 3, the won-dollar exchange rate surged by 18.3 won, reaching 1,471 won per dollar.
This increase was triggered by the United States’ decision to impose additional tariffs on imports from Canada, Mexico, and China. Tariffs of 25% on Canadian and Mexican products and 10% on Chinese goods have sparked fears of retaliatory measures, increasing market instability.
Experts warn that continued uncertainty in global trade policies could exacerbate currency fluctuations, impacting South Korea’s export-driven economy.
2. Society: Climate Change Blamed for the Worst Wildfire in 40 Years in Los Angeles
Los Angeles recently faced its worst wildfire in 40 years, despite the season being relatively wet. Experts point to climate change as the primary factor behind the unexpected and simultaneous outbreak of multiple fires.
South Korean researchers highlight that prolonged droughts in the western United States, driven by global warming, are expected to intensify in the coming years. Rising temperatures in the equatorial Pacific are increasing convective activity, leading to the formation of high-pressure systems that create drier conditions across the region.
The report also warns that South Korea is experiencing an extended wildfire risk period due to climate change. If carbon emissions are not controlled, the risk of wildfires is projected to increase by 106% by the mid-21st century and 158% by its end.
3. Media & Society: Decline in News Consumption Among Young South Koreans
A recent report by the Korea Press Foundation highlights a decline in news consumption across all age groups, with the most significant drop observed among people in their 20s and 30s.
The percentage of individuals consuming news via online video platforms fell from 25.1% in 2023 to 18.4% in 2024. Among people in their 20s, the decline was even sharper—from 30.8% to 21.4%. Additionally, news consumption through internet portals among young people has steadily declined from 95.4% in 2021 to 78.9% in 2024.
Experts suggest that this trend indicates a lasting shift in how younger generations engage with information, favoring social media and alternative platforms over traditional news sources.
4. Politics: Divisions Emerge Among Pro-Yoon Protesters
Following the arrest of President Yoon Suk-yeol and violent protests at the Seoul Western District Court, divisions are growing within his support base.
Pro-Yoon demonstrators are now split into two factions: one centered around rallies at Gwanghwamun, led by Pastor Jeon Kwang-hoon and Shin Hye-sik (CEO of YouTube channel ‘Shin’s Perspective’), and another group holding protests in Yeouido, led by Pastor Son Hyun-bo.
These factions have been publicly attacking each other, with Jeon criticizing Son’s group, stating, “Even if you study for 10 years, you won’t catch up to me in activism.” Meanwhile, Yeouido faction leaders claim that efforts to divide the movement are being orchestrated to weaken their cause.
5. Entertainment & Society: Netflix Drama ‘Trauma Center’ Sheds Light on South Korea’s Medical Crisis
Netflix’s new drama series Trauma Center brings attention to the harsh realities of South Korea’s emergency trauma care system.
The series follows protagonist Baek Kang-hyuk (played by Joo Ji-hoon), who struggles to establish and run a trauma center within a university hospital. Despite his dedication to saving lives, he faces challenges such as a lack of staff and medical equipment due to the hospital’s financial priorities and insufficient government support.
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