[Yonhap News headlines at this time] - 18:00
Major news such as the opposition party-led passage of the special prosecution bill on fabricated indictments, nomination of a new attorney general candidate, and KOSPI plunge.
Quick Look
- The 'Special Prosecution Act on Manipulated Indictments', which investigates cases related to President Lee Jae-myung and allegations of fabricated indictments by prosecutors under the Yoon Seok-yeol government, was passed through the National Assembly under the leadership of the Democratic Party.
- Meanwhile, Director Lee Yong-cheol of the Defense Acquisition Program Administration was appointed as the new Minister of Justice, and KOSPI plummeted in the aftermath of uncertainty over AI investment from the United States.
AI-generated summary
Why It Matters
The Special Prosecution Act, which investigates cases related to President Lee Jae-myung and suspicions of fabricated indictments by the Yoon Seok-yeol government prosecutors, has been passed by the National Assembly.
The so-called 'Special Prosecution Act on Manipulated Indictments', which investigates allegations of fabricated indictments by prosecutors under the Yoon Seok-yeol government, including cases related to President Lee Jae-myung, was passed in the National Assembly on the 6th under the leadership of the Democratic Party of Korea. The political situation at the end of the year is expected to freeze even further as the Democratic Party pushes for the passage of the Special Prosecution Act with a 'quick decision' and the People Power Party enters a hardline struggle. At the plenary session on this day, the National Assembly passed 'A bill on the appointment of a special prosecutor to uncover the truth about suspicions such as manipulation investigations and fabricated prosecutions by state agencies such as the Prosecutor's Office, National Intelligence Service, and Board of Audit and Inspection under the Yoon Seok-yeol regime' with 167 in favor and 1 against out of 168 members present.
Lee Yong-cheol, the current head of the Defense Acquisition Program Administration, was nominated as the Lee Jae-myung administration's second candidate for Minister of Justice. Presidential Chief of Staff Lim Gwang-hyeon announced at a briefing that day that President Lee Jae-myung had nominated Commissioner Lee as a candidate for Minister of Justice. Director Lim introduced candidate Lee, saying, "He is a former member of the Lawyers for a Democratic Society, and is a lawyer who has worked hard to protect human rights and promote democratic values. He served as the second secretary for civil affairs and secretary for legal affairs in the Senior Secretary to the President for Civil Affairs under the Participatory Government and led the reform of the anti-corruption system."
The KOSPI plunged two days in a row, falling a total of 11%, due to the US Democratic Party's landslide victory in the midterm elections, the so-called 'blue wave' hitting the US stock market. In particular, the news that Microsoft (MS) is strengthening its management and supervision of its data center business was reported last night, which seems to have been the trigger for a further plunge in the KOSPI on this day. This has stimulated concerns that delays in artificial intelligence (AI) investment from Blue Wave may already become a reality.
The 'Jang Bogo N Project', which builds a Korean-style nuclear-powered submarine (nuclear submarine) using domestic technology, is exempted from the business feasibility study and steps on the accelerator pedal to promote the project. The submarine system integration (hull development and construction) will be promoted through competitive bidding between domestic shipbuilding companies, and the small module reactor (SMR) and major armament equipment, which are the core of the nuclear submarine, have been decided to be 'government-supplied', directly secured and provided by the government. The Defense Acquisition Program Administration announced on the 6th that it held the 179th Defense Acquisition Program Promotion Committee (Defense Committee) at the Ministry of National Defense and deliberated and decided on the 'Jang Bogo N (KSS-Ⅲ Deployment-Ⅲ) Project Promotion Basic Strategy (draft)' containing these contents.
Timor-Leste President Jose Hamus Orta, winner of the Nobel Peace Prize, said on the 6th, "I will strongly recommend the 'Revolution of Light' as a candidate for the Nobel Peace Prize." In a joint press release after a summit meeting with President Lee Jae-myung at the Blue House, President Orta said, "The Revolution of Light is very meaningful and naturally deserves high praise from the international community."
At 8:22 a.m. on the 6th, a 3.5-ton truck hit a 25-seater elementary school school bus 10km toward Songdo from Incheon Bridge in Unnam-dong, Yeongjong-gu, Incheon. In this accident, seven people, including five elementary school students on the bus and two drivers, were injured and were taken to the hospital by the 119 ambulance for treatment. At the time, 13 students in grades 3 to 6 of elementary school were on board the bus, but it was determined that the other eight students were not transported to the hospital.
On the 6th, Deputy Prime Minister and Minister of Science and ICT Bae Baek-hoon stated that Korea should not delay investment in AI data centers despite growing concerns about a decline in global artificial intelligence (AI) investment. Deputy Prime Minister Bae met with reporters after the 3rd general meeting of the National Artificial Intelligence Strategy Committee held at Seoul Square on the 6th and emphasized, regarding the anxiety over AI data center investment that arose after the U.S. midterm elections, "Korea should not be caught up in the current atmosphere and stop or delay investment."
Due to a shortage of ballots for the June 3 local elections, some protesters who occupied the area of the Olympic Park handball stadium still remain, and the deadline for their voluntary removal has been extended. On the 6th, the Korea Sports Promotion Foundation posted notices around the handball stadium and announced that the voluntary demolition deadline would be extended until the 12th, advising people to clean up unauthorized materials before then.
As the expiration of the detention of former Prime Minister Han Deok-soo and former Minister of Public Administration and Security Lee Sang-min, who were indicted on charges of rebellion, approaches, the special prosecutor's team has requested a speedy sentencing from the Supreme Court. According to the legal community on the 6th, the team of special prosecutor Cho Eun-seok submitted an 'opinion on the need for a speedy sentencing' to the Supreme Court, which is hearing the case of former Prime Minister Han and former Minister Lee on important civil war missions the day before.
It will be cold on the 7th, the day of winter, with morning temperatures in the central region, eastern Jeollabuk-do, and Gyeongsang inland falling below freezing. A cold wave warning has been issued (effective at 9 p.m. on the 6th) for the eastern region, including Gangwon and Gyeongbuk, and throughout Jeollanam-do.
What to Watch
AI outlook — possibilities, not facts
Continuing conflict between the ruling and opposition parties regarding the manipulation of indictment special prosecution law
Very likely · Within weeks
Open Questions
- Whether the President accepts the Special Prosecutor Act
- Will the stock market downturn calm down in the future?

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