“Korea: A Case Study?”
Issue 10: 2020. 4. 10. – “Korea: A Case Study?”
Greetings from PACOM!
It’s the end of another week, and one which has seen a remarkable drop in new confirmed COVID-19 cases in Korea. This week, newly confirmed cases numbered less than 50 per day except for on Wednesday, with only 27 newly confirmed cases for today (April 10, Friday). Korea is being studied by many of the countries who are currently suffering the ill effects of COVID-19, although I would tentatively argue that the measures which are taken in Korea in the name of public safety (a prime example being a public announcement of the movement patterns of newly confirmed COVID-19 cases, broadcast via emergency SMS channels across the country) may not be very readily received by other countries.
Nevertheless, there is a reason to be concerned next week, and that is because the general elections are being held next Wednesday. While mass gatherings have obviously been mostly legislated out for the time being, there still isn’t a reliable-enough digital voting system that can replace in-person polling. Thus, next week will be a watershed moment for Korea regarding COVID-19. If the election passes with little increase in confirmed cases, we’ll all breathe a sigh of relief; if the number of cases rises sharply, then that will be another lesson learned.
At PACOM, I am glad to report that things are relatively normal. The factory is operating at full capacity as it pertains to employees, and I am sure that those of you who have reached out to your respective PMs have found them very responsive. So far so good for PACOM regarding this situation—a silver lining in an otherwise discouraging situation.
On another note, April 9 was a rather significant moment regarding Korean politics, as Gyeonggi Province became the first case in modern Korean history to provide a universal basic stipend (not income, as I am assuming this is a one-off in extraordinary circumstances) to its constituents. To note, the stipend is provided in a form of “regional currency” which can be used only in select places within the region, with a focus on supporting small and medium-sized businesses.
The debate around whether universal basic income can work as a system has been pretty fierce in online communities, so it will be interesting to see if this program has the desired effect of stimulating economic activity in the region and supporting those who are most vulnerable to the damage wrought by COVID-19. We truly are in the middle of a social experiment now.
As always, if there is something you're curious about or would just like to talk, feel free to reach out!
Stay safe everyone. To a happy and healthy weekend!
Best regards,
Yu Bum Kim