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    Meet South Korea’s Swing Voters: Young, Broke and Angry

    Frustrated over housing prices, a lack of job opportunities and a widening income gap, the once-reliable voting bloc is undecided and will most likely elect the next president.SEOUL — When he was a college freshman in 2019, Jeong Hyun-min sometimes had less than $10 to cover meals for three days. That same year, a scandal erupted in South Korea that still roils him today.While Mr. Jeong was cleaning tables and serving drinks at beer halls just to make ends meet, the country’s justice minister and his wife were accused of pulling strings to help their daughter glide into medical school, even fabricating an award certificate.“I realized what people had been saying all along: Your chances in this country are determined by what kind of parents you have,” said Mr. Jeong, a political science major at Daejeon University. “Fairness is the key if politicians want our trust back.”On Wednesday, South Koreans will elect a new president and all eyes are on young people, whose disillusionment with the government has made this one of the most tightly fought races in recent memory. ​Frustrated over sky-high housing prices, a lack of job opportunities and a widening income gap, young people who were once considered reliably progressive voters are now seen as undecided and will most likely tip the balance in the election.Jeong Hyun-min, a political science major, works part time distributing textbooks in a high school in South Korea.  “Fairness is the key if politicians want our trust back,” he said.Woohae Cho for The New York TimesUnlike previous generations, these voters are not easily swayed by old political dynamics, such as regional allegiance, loyalty to political bosses, fear of North Korea or a desire to ease tension on the Korean Peninsula. Instead, they talk of economic despair​ and general frustration as their primary concerns, themes captured in popular movies and TV dramas like “Parasite” and “Squid Game.”Many have adopted a saying: “isaenggeul,” or “We can’t make it in this life.”“In the past, young South Koreans tended to vote progressive, but now they have become swing voters,” said Prof. Kim Hyung-joon, an election expert at Myongji University in Seoul. “To them, nothing matters as much as fairness and equal opportunity and which candidate ​will ​provide it.”Young people near Konkuk University in Seoul. Unlike previous generations, these voters are not easily swayed by old political dynamics.Woohae Cho for The New York TimesYoon Suk-yeol, the leading candidate from the opposition People Power Party, has won over voters in their 60s and older by pitching their preferred conservative agenda. He has championed a stronger alliance with the United States and even threatened “pre-emptive strikes” against North Korea.Mr. Yoon’s rival, Lee Jae-myung, the candidate representing President Moon Jae-in’s Democratic Party, remains popular among voters in their 40s and 50s. He has called for a diplomatic balance between the United States, South Korea’s security ally, and China, its biggest trading partner.Few of these issues have roused South Koreans in their 20s and 30s, who make up one-third of the eligible voters, as much as they did older voters. Rather, on top of their minds is an uncertain economic future.“We will be the first generation whose standard of living will be lower than our parents’,” said Kim Dong-min, 24, a student at Konkuk University Law School.Kim Dong-min, 24, studying in the library at Konkuk University Law School. “We will be the first generation whose standard of living will be lower than our parents’,” he said.Woohae Cho for The New York TimesIn the decades following the 1950-53 Korean War, most South Koreans were ​equally ​poor. Those who found success were often referred to as “a dragon rising from a humble ditch.”Middle-class dreams were plausible as the postwar economy roared, churning out jobs. Education functioned as a vehicle of upward mobility. Millions of people migrated to the Seoul metropolitan area, where the best schools and most of the country’s wealth was eventually concentrated.Getting a degree from an elite university and owning an apartment in Seoul became symbols of social mobility. But in recent decades, the economy slowed, and that old formula has broken down. In a survey last year, nearly 65 percent of the respondents in South Korea said they were skeptical that their children’s economic future would be better than their own.In Seoul, the average household must save its entire income for 18.5 years to ​afford to buy a home.Woohae Cho for The New York TimesA majority of ​respondents in their 20s and 30s said they no longer saw education as the great equalizer, as admission into top universities depended largely on whether parents could bankroll expensive private tutors.“How would you feel when you are struggling in a marathon and you see others cruising along in sports cars?” said Oh Byeong-ju, 23, a senior at Dongguk University in Seoul.In South Korea, where nearly three-quarters of household wealth is concentrated in real estate, no index illustrates widening inequality quite ​like housing prices. Young couples whose wealthy parents helped them buy apartments — a tradition in South Korea — saw their property value in Seoul nearly double under Mr. Moon.The average household, on the other hand, must save its entire income for 18.5 years in order to ​afford an apartment in the city, according to estimates by KB Kookmin Bank.“It has become impossible to buy an apartment in Seoul, even if you work and save for your entire life,” said Park Eun-hye, 27, who works at Youth Mungan, a civic group that provides affordable meals for poor youths. “Whatever the candidates say sounds unconvincing. Young people instead invest what little money ​we save in stocks and cryptocurrencies.”Oh Byeong-ju, 23, a senior at Dongguk University in Seoul, says, “How would you feel when you are struggling in a marathon and you see others cruising along in sports cars?” Woohae Cho for The New York TimesSouth Korea’s poverty rate and its income inequality are among the worst in wealthy countries, with youths facing some of the steepest challenges. Nearly one in every five South Koreans between the ages of 15 and 29 was effectively jobless as of January, according to government data. That is far higher than the national average, 13.1 percent.Upon his inauguration, Mr. Moon promised “equal opportunities” for everyone. “The process will be fair,” he said. “And the result will be righteous.”Many young people claim fairness and equal opportunity — or their versions of those values — have been eroded instead. They bristled when Mr. Moon’s government formed a joint ice hockey team with North Korea for the 2018 Winter Olympics, arguing that it was unfair to replace elite South Korean athletes with inferior North Korean players.Posters featuring portraits of presidential candidates in Seoul.Woohae Cho for The New York TimesAnd last year, after a scandal revealed officials had used their position to seek personal gain in the housing market, young voters helped deliver Mr. Moon’s government a crushing defeat in the Seoul mayoral election.Rival political parties have since rushed to appease South Korean youth. Lawmakers lowered the minimum voting age to 18 from 19 and the age limit for running for Parliament to 18 from 25. Mr. Lee and Mr. Yoon, the two leading presidential candidates, have both apologized and have applied different tactics to win votes.Mr. Yoon’s popularity soared among men in the 20s after he promised to abolish the Ministry of Gender Equality and Women and sidelined a campaign adviser who identified as a feminist. Anti-feminist sentiments are widespread among the young men.Park Eun-hye, 27, at Youth Mungan, a civic group that provides affordable meals for young people in Seoul.Woohae Cho for The New York TimesMr. Lee is more popular among women in their 20s, and he has promised to introduce harsher punishment for date rape and other sex crimes. He also campaigned to make companies reveal gender-wage gaps to their employees and to the public.But 20 percent to 30 percent of South Koreans in their 20s and 30s have said they may change their mind about their preferred candidate before they vote this week, according to surveys. “Our support shifts from one political party to another, issue by issue,” Mr. Jeong said. More

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    US and South Korea Renew Commitment to Promoting Democracy

    The summit in May between Joe Biden and Moon Jae-in delivered numerous positive outcomes that advanced the United States and South Korea as a future-oriented alliance. The two allies redoubled their cooperation in areas that are becoming more and more crucial globally, including emerging tech, climate change and space policy.

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    The expanded multidimensional collaboration marked meaningful progress in the transition of the US–South Korea relationship from that of a traditional military alliance to a more versatile, modernized partnership. But perhaps even more noteworthy was the joint commitment to strengthening regional governance and championing human rights, especially women’s rights. 

    Making a Statement

    To begin with, the Biden and Moon administrations reinforced their common vision of promoting regional governance centered on liberal values in the Indo-Pacific. Broad-brush commitments from the 2019 joint statement by the US and the Republic of Korea (ROK) — such as encouraging regional digital transparency and advancing openness, sovereignty and the rule of law in the Indo-Pacific — solidified into more explicit terms during the recent meeting in Washington.

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    For instance, both sides agreed to oppose all activities that undermine, destabilize and threaten the rules-based order; uphold freedom of navigation and stability in the South China Sea and the Taiwan Strait; support open and inclusive regional multilateralism, including the Quadrilateral Security Dialogue (Quad); and build clean 5G and 6G telecommunications networks. The allies also established the KORUS Global Vaccine Partnership, a tangible step toward strengthening regional leadership and governance through public health and vaccine distribution.

    For Washington, getting South Korea to acknowledge and emphasize the importance of liberal norms in the South China Sea and the Taiwan Strait, as well as demonstrate mutual support for the Quad, was a welcome change. Out of fear of damaging strategic ties with China, its largest trading partner and an important broker of regional diplomacy with North Korea, leaders in Seoul have largely avoided publicly siding with the US on China-related issues.

    South Korea’s traditional wariness is based on experience. In 2016, after Seoul deployed the THAAD missile defense system, which China perceives as a vehicle for US strategic surveillance of Chinese interests, Beijing imposed informal economic boycotts against South Korea and cut off bilateral defense talks. Against this backdrop, the Biden-Moon statement from the summit, which contains language that can be viewed as contrary to Chinese interests (such as supporting the Quad and upholding liberal norms around disputed East Asian seas), signaled that Seoul is growing more confident in standing up for its own values and supporting a free and open Indo-Pacific, regardless of Beijing’s preferences and despite the possibility of retaliation. 

    Human Rights

    In addition to regional governance, human rights marked another issue where Washington and Seoul renewed commitment at the summit. The joint statement comprised several pledges that soundly reflected the alliance’s devotion to human rights. This included expanded financial aid for Northern Triangle countries, commitment to aiding North Korean citizens, support for the ongoing democratic movement in Myanmar, and standing for justice against racism and hate crimes targeting Asian Americans. But particularly eye-catching was the alliance’s unusually strong emphasis on empowering women and enhancing gender equality.  

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    The Biden-Moon statement acknowledged “women’s full participation” as the key to resilient democracy and presented several important commitments for women’s empowerment. The two presidents mentioned exchanging best practices to reduce the gender wage gap, empowering women in the fields of science, technology, engineering and mathematics (STEM), and combating abuses against women, including domestic violence and cyber-exploitation.

    When it comes to workplace equality, both allies stand well below the average for member states of the Organization for Economic Cooperation and Development (OECD) on issues like gender wage gap disparity and female leadership (or the glass ceiling phenomenon), with South Korea ranking last. Tied to this is gender disparity in STEM, which limits greater labor diversification and which has also been a concern for both the United States and South Korea. Violence against women is a challenge both societies face.

    These are all vital areas of improvement for both countries to elevate their state of gender equality and overall democracy. The specific mention of these issues in the joint statement is encouraging for women’s rights advocates. 

    Falling Short

    Despite this promising turn, shared awareness of gender equality issues does not mean much if not put into action. Inconsistent progress on this front has been a problem for both allies. Women’s empowerment was a key goal at the summit in 2015 between Barack Obama and Park Geun-hye. But while the US remained committed to these shared objectives, South Korea fell short. While things have improved in South Korea, with its gender equality ranking rising from 118 to 102 under Moon, the US saw a backslide under former President Donald Trump, going from 45th to 53rd place globally, according to the World Economic Forum.

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    However, under the Biden administration, which prioritizes gender equality, the US will likely make significant progress in the future. Promoting gender equality is an indispensable element of the universal human rights agenda. As two sophisticated democracies championing human rights, both the US and South Korea are responsible for making enduring efforts to empower women. Under any administration ruled by whichever political coalitions, the value of women’s rights should not be undermined. 

    On top of striving to tackle gender inequality at home, the US and South Korea should lay out more concrete bilateral initiatives and build a high-level communication channel to discuss progress regularly and hold each other accountable for tangible progress toward their commitments. Gender inequality remains a longstanding obstacle to regional growth in Asia. At the regional level, the US–ROK alliance could revisit and expand on its pledges from the 2020 East Asia Summit regarding women’s economic empowerment and participation in security and peacekeeping issues.

    After all, the Biden and Moon administrations’ renewed cooperation on regional governance in the Indo-Pacific and gender equality established a good framework for the US–ROK alliance to expand its influence and spread democratic values throughout Asia. Both sides should make sure to diligently implement the commitments going forward.

    *[Fair Observer is a media partner of Young Professionals in Foreign Policy.]

    The views expressed in this article are the author’s own and do not necessarily reflect Fair Observer’s editorial policy. More

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    South Koreans Now Dislike China More Than They Dislike Japan

    There is growing anti-China sentiment in South Korea, particularly among young voters. Conservative politicians are eager to turn the antipathy into a presidential election issue.SEOUL — The list of election issues set to define South Korea’s presidential race next year is long. The runaway housing prices, the pandemic, North Korea and gender inequality are a start. But an unlikely addition has also emerged in recent weeks: China.South Korea’s decision ​​to let the American military deploy a powerful antimissile radar system on its soil​ in 2017 has been the subject of frequent criticism from China. And last month, a presidential hopeful, Yoon Seok-youl, told the country to stop complaining, unless it wanted to remove its own ​radar systems near the Korean Peninsula.Political elites here are usually careful not to antagonize China, the country’s largest trading partner. But Mr. Yoon’s blunt rhetoric reflected a new phenomenon: a growing antipathy toward Beijing among South Koreans, particularly young voters whom conservative politicians are eager to win over.Anti-Chinese sentiment has grown so much this year that China has replaced Japan — the former colonial ruler — as the country regarded most unfavorably in South Korea, according to a ​joint ​survey by ​the polling company ​Hankook Research​ and the Korean newsmagazine SisaIN. In the same survey, South Koreans said they favored the United States over China six to one.Over 58 percent of the 1,000 respondents called China “close to evil” while only 4.5 percent said that it was “close to good.”Yoon Seok-youl, a conservative politician, on television during a press conference in Seoul in June. He has been openly critical of China.Ahn Young-Joon/Associated PressNegative views of China have deepened in other advanced countries as well, but among the 14 nations surveyed last year by Pew Research Center, South Korea was the only one in which younger people held more unfavorable views toward China than previous generations.“Until now, hating Japan was such a part of Korean national identity that we have a common saying: You know you are a real Korean when you ​feel hateful toward Japan for no particular reason,” said Jeong Han-wool, a chief analyst at Hankook Research​. “In our survey, people in their 40s and older still disliked Japan more than China. But those in their 20s and 30s, the generation who will lead South Korea in the coming decades, tipped the scale against China.”South Korea elects its next president in March, and observers are watching closely to see how younger people vote on the country’s policy toward Beijing.Conservatives in South Korea have called anything less than full-throated support of the alliance with Washington “pro-North Korean” and “pro-Chinese.” Progressives usually support reconciliation with North Korea and calls for diplomatic “autonomy” between the United States and China. Younger South Koreans have traditionally voted progressive, but millennials are breaking that pattern, and possibly turning into swing voters.An American military vehicle that was part of an antimissile radar system arriving in Seongju, South Korea, in 2017. China railed against South Korea over the deployment of the system.Reuters“We feel frustrated when we see our government act spineless while Beijing behaves like a bully,” said Chang Jae-min, a 29-year-old voter in Seoul. “But we also don’t want too much tension with China or North Korea.”For decades, South Korea has benefited from a military alliance with the United States while cultivating trade ties with China to fuel economic growth. But that balance has become increasingly difficult to maintain as relations between Washington and Beijing deteriorate.President Moon Jae-in’s conservative rivals, like Mr. Yoon, have complained that South Korea’s ambiguous policy on the United States and China made the country the “weakest link” in the American-led coalition of democracies working to confront Chinese aggression.“We cannot remain ambiguous,” Mr. Yoon told JoongAng Ilbo, a South Korean daily, last month during an interview in which he made his critical remarks about China.The conservative opposition has long accused Mr. Moon of being “pro-China.” His government has maintained that South Korea — like other American allies, including those in Europe — should avoid alienating either power. While South Koreans overwhelmingly support the alliance with Washington, the country’s trade with China is almost as big as its trade with the United States, Japan and the European Union combined.Chinese tourists in a shopping district in Seoul last year.Jean Chung for The New York Times“We cannot pick sides,” Foreign Minister Chung Eui-yong has said.Yet when Mr. Moon met with President Biden in Washington in May, the two leaders emphasized the importance of preserving “peace and stability in the Taiwan Strait,” and vowed to make their alliance “a linchpin for the regional and global order.” Many analysts saw the statement as a sign that South Korea was aligning itself more closely with Washington at the risk of irritating China, which has called Taiwan a red line.The main conservative opposition, the People Power Party, has already begun harnessing young voters’ anti-China sentiment to secure electoral wins.In April, young voters helped deliver landslide victories for the party in the mayoral races in South Korea’s two largest cities. Last month, the party’s young leader, Lee Jun-seok, 36, said his fellow South Korean millennials would fight against Chinese “cruelty” in places like Hong Kong and Xinjiang, where China has been accused of genocide.Older Koreans, while often anti-Communist, tend to respect Chinese culture, which influenced the Korean Peninsula for millenniums. They have also looked upon the country as a benign giant whose rapid economic growth was a boon for South Korean exporters. Younger South Koreans tend not to share that perspective.President Moon Jae-in of South Korea with President Biden during a press conference at the White House in May.Stefani Reynolds for The New York TimesMost of them grew up proud of their homegrown economic and cultural successes. And as China’s foreign policy became more assertive under President Xi Jinping, they began to see the country’s authoritarianism as a threat to free society. They have also been critical of China’s handling of the coronavirus, its expansionism in the South China Sea and fine-dust pollution from China that regularly blankets Seoul.“They have grown up in a liberal environment the earlier generations built through sweat and blood, so they hold an inherent antipathy toward illiberal countries,” said Ahn Byong-jin, a political scientist at Kyung Hee University in Seoul. “They root for politicians who criticize China.”Nowhere has South Korea’s dilemma between Washington and Beijing been magnified more dramatically than over the deployment of the American antimissile radar, known as the Terminal High Altitude Area Defense, or THAAD.When South Korean officials agreed to the deployment, they called it a necessity in defending against North Korea. China saw it as part of a continuing threat from the United States military presence in the region, and retaliated by curbing tourism to South Korea and boycotting the country’s cars, smartphones, shopping malls and TV shows.South Korean students demonstrated in support of Hong Kong’s pro-democracy movement, outside the Chinese Embassy in Seoul, in 2019.Ed Jones/Agence France-Presse — Getty ImagesHa Nam-suk, a professor of Chinese politics and economy at the University of Seoul, has monitored how deepening animosity toward Beijing has played out on and off campuses in recent years, as cash-starved South Korean universities began accepting more Chinese students.South Korean and Chinese students clashed over whether to support young pro-democracy protesters in Hong Kong, he said. They have also gotten into spats online over K-pop and kimchi. In March, many young South Koreans forced a TV station to cancel a drama series after it showed an ancient Korean king dining on Chinese dumplings.“As they watched what China did in places like Hong Kong,” Mr. Ha said, “Koreans began asking themselves what it would be like to live under a greater sphere of Chinese influence.” More

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    Oh Se-hoon Wins Seoul Mayoral Election

    Conservative opposition candidates won two mayoral races that were seen as a referendum on President Moon Jae-in and a bellwether for next year’s presidential contest.SEOUL — In his last year in office, President Moon Jae-in of South Korea has seen his approval ratings in a tailspin. His trademark North Korea diplomacy remains in tatters. Citizens are fuming over his ​repeatedly ​botched attempts to arrest soaring housing prices.And on Wednesday, voters in South Korea’s two biggest cities dealt another crushing blow to the beleaguered leader.Mr. Moon’s Democratic Party lost the mayoral elections in Seoul and Busan to the conservative opposition, the People Power Party. Critics are calling the results of the two by-elections a referendum on Mr. Moon and his government.“The people vented their anger at the Moon government through these elections,” said Kim Chong-in, head of the People Power Party, referring to large margins by which its candidates won.​South Korea’s Constitution limits Mr. Moon to a single five-year term. But he had hoped that a candidate backed by his party would succeed him in the presidential election next March and continue his progressive legacy, including a policy of engagement toward North Korea.Wednesday’s mayoral elections showed that the Democratic Party faces steep challenges as voters once loyal to Mr. Moon — especially those in their 20s and 30s — abandon it in droves.Oh Se-hoon, the People Power Party candidate, won the race in Seoul, the capital city ​of 10 million people. He routed Park Young-sun, the Democratic Party candidate and a former member of Mr. Moon’s cabinet, by more than 18 percentage points, according to voting results announced by the National Election Commission.The Seoul mayor is considered South Korea’s second-most powerful elected official after the president.In Busan, on the southeastern tip of the ​Korean Peninsula, Park Heong-joon, another candidate affiliated with the opposition party, ​​beat his Democratic Party rival by another large margin, according to the commission.A polling station on Wednesday in Busan, South Korea’s second-largest city, which also held a by-election for mayor.Yonhap/EPA, via ShutterstockThe by-election in Seoul was called after Park Won-soon, the former mayor, died by suicide last year following accusations of sexual harassment. The former mayor of Busan, Oh Keo-don, stepped down ​last year ​amid accusations of sexual misconduct from multiple female ​subordinates.The former mayors were both members of ​Mr. Moon’s Democratic Party and the president’s close allies. Their downfall ​weakened the moral standing of Mr. Moon’s progressive camp, which ​has cast itself as a ​clean, ​transparent​ and equality-minded alternative to ​its conservative opponents. Mr. Moon’s two immediate predecessors — Park Geun-hye and Lee Myung-bak — were both conservatives and are now in prison following convictions on corruption charges.Mr. Moon was elected ​in 2017, ​filling the power vacuum created by Ms. Park’s impeachment. As a former human rights lawyer, he enthralled the nation by promising a “fair and just” society. He ​vehemently criticized an entrenched ​culture of privilege and corruption ​that he said had taken root while conservatives were in power, ​and vowed to create a level playing field for young voters who have grown weary of dwindling job opportunities and an ever-expanding income gap.Mr. Moon spent much of his first two years in power struggling to quell escalating tension between North Korea and the United States, successfully mediating diplomacy between the two countries. He shifted more of his attention to domestic issues after the two summit meetings between North Korea’s leader, Kim Jong-un, and President Donald J. Trump failed to produce a deal on nuclear disarmament or the easing of tensions on the Korean Peninsula.But things quickly turned sour on the home front ​as well.In 2019, huge outdoor rallies erupted ​over accusations of forgery and preferential treatment in college and internship applications​ surrounding the daughter of Cho Kuk, Mr. Moon’s former justice minister and one of his closest allies.The scandal flew in the face of Mr. Moon’s election promise of creating “a world without privilege,” and prompted outrage against the “gold-spoon” children of the elite, who ​glided into top-flight universities and cushy jobs while their “dirt-spoon” peers struggled to make ends meet in South Korea’s hobbled economy.President Moon Jae-in and his wife, Kim Jung-sook, casting early votes in Seoul on Friday.Choe Jae-Koo/Yonhap, via Associated Press​South Koreans expressed their growing cynicism over what they considered the hypocritical practices of Mr. Moon’s progressive allies with a popular saying: naeronambul. It roughly translates to, “If they do it, it’s a romance; if others do it, they call it an extramarital affair.”​Nonetheless, the Democratic Party won by a landslide in parliamentary elections last year as Mr. Moon leveraged his surging popularity around South Korea’s largely successful battle against the coronavirus. But Mr. Moon’s virus campaign has lost its luster.In recent months, South Koreans have grown frustrated with prolonged social-distancing restrictions, a distressed economy and the government’s failure to provide vaccines fast enough. On Wednesday, the government reported 668 new coronavirus infections, the highest one-day increase in three months.Mr. Moon’s most devastating setback came last month when officials at the Korea Land and Housing Corporation — the state developer — were accused of using privileged insider information to cash in on government housing development programs. Kim Sang-jo, Mr. Moon’s chief economic policy adviser, stepped down last month when it was revealed that his family had significantly raised the rent on an apartment in Seoul just days before the government imposed a cap on rent increases.“People had hoped that even if they were incompetent, the Moon government would at least be ethically superior to their conservative rivals,” said Ahn Byong-jin, a political scientist at Kyung Hee University in Seoul. “What we see in the election results is the people’s long-accumulated discontent over the ‘naeronambul’ behavior of the Moon government exploding. Moon has now become a lame duck president.”The real-estate scandal dominated the campaign leading up to Wednesday’s election. Opposition candidates called Mr. Moon’s government a “den of thieves.” Mr. Moon’s Democratic Party called Mr. Oh, the new mayor in Seoul, an incorrigible “liar.” Mr. Oh resigned as Seoul mayor in 2011 after his campaign to end free lunches for all schoolchildren failed to win enough support.Pre-election surveys this month showed that voters who planned to vote for Mr. Oh would do so not because they considered him morally superior to his Democratic Party rival. Instead, it was because they wanted to “pass judgment on the Moon Jae-in government.”Posters showing candidates for mayor of Seoul.Ahn Young-Joon/Associated Press More

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    ‘The Den of Thieves’: South Koreans Are Furious Over Housing Scandal

    President Moon has spent years trying to curb runaway housing prices. Now several officials in his government are under investigation for contributing to the problem ahead of important elections.SEOUL — ​The 10 people bought $8.8 million worth of land in an undeveloped area southwest of Seoul, registering it for farming and planting numerous trees. It’s a common trick used by shady real estate speculators in South Korea: Once the area is taken over for housing development, the developers must pay not only for the land, but the trees, too.A national outrage erupted this month when South Koreans learned that the 10 people were officials from the Korea Land and Housing Corporation (LH) — the government agency in charge of building new towns and housing — suspected of using privileged information to cash in on government housing development programs.The incident has thrown President Moon Jae-in’s government into crisis mode just weeks before key mayoral elections that are largely seen as a referendum on him and his party ahead of next year’s presidential race. Young South Koreans are saying they are fed up with corruption and the president’s failed policies on runaway housing prices. The LH scandal is now set to become a critical voter issue in Mr. Moon’s final year in office.“When my girlfriend and I discuss how we are going to find a house in Seoul for the family we are going to start, we can’t find an answer,” said Park Young-sik, 29, an office worker. “The LH scandal shows how some people in South Korea make a quick fortune through real-estate foul play, while the rest of us can barely buy a house even if we toil and save for a lifetime.”President after president has promised to make housing more affordable in South Korea, but real-estate prices have kept soaring, undermining public trust.Rising housing prices have long been one of the country’s most intractable policy headaches, especially in Seoul and the surrounding Gyeonggi Province, where nearly half the country’s population lives, crammed into everything from gleaming apartment towers to urban slums.A protest in Seoul outside offices for the Korea Land and Housing Corporation, the government agency in charge of building new towns and housing.Yonhap/EPA, via ShutterstockReal-estate speculation has become something of a national sport, but the suspicion of insider trading among public officials made the LH story stand out. Anger spread quickly, especially among young South Koreans who have been crushed by the country’s dwindling job opportunities.“The den of thieves!” read one of the many signs young protesters plastered on the doors of an LH office in Seoul this month.Voters in South Korea’s two largest cities — Seoul and Busan — go to the polls on April 7 to choose their mayors, and many observers said the elections could reflect poorly on Mr. Moon’s performance. Survey results showed that the LH news was dragging down approval ratings for both him and his party, most sharply among South Koreans in their 20s.“I am sorry for worrying the people greatly, and for deeply disappointing those people who have lived honestly,” Mr. Moon said last week, vowing to eliminate “real estate corruption widespread in our society” as a priority of his last year in power.Apartment prices in Seoul have soared by 58 percent during Mr. Moon’s tenure, according to data from the government-run Korea Real Estate Board. Some of the units in popular residential districts in Seoul have nearly doubled in price in the same period.Rising housing costs have been blamed for creating a vicious cycle in which families believe real estate investments are foolproof, despite being warned otherwise by the authorities. Experts believe the soaring housing costs have also contributed to the country’s declining fertility rate, one of the lowest in the world, by discouraging young Koreans from starting a family.The insidious​ divide among young people in South Korea has become a popular topic in K-dramas and films, including Bong Joon Ho’s “Parasite.”​ The “dirt-spoons” struggle to manage an ever-expanding income gap while the “gold-spoons,” the children of the elites, glide through a life of privilege. The problem also featured prominently in the real-life downfall of the former president, Park Geun-hye,​ and the jailing of the Samsung Electronics vice chairman, Lee Jae-yong.Police investigators removing items confiscated from a Korea Land and Housing Corporation office in Gwacheon, south of Seoul. Yonhap/EPA, via ShutterstockWhen Mr. Moon took office in 2017, he promised a “fair and just” society. His government has introduced dozens of regulatory steps to curb housing prices, including raising capital-gains taxes on house flipping and property taxes on multiple-home owners.None of these measures have worked.Last month, the Moon administration announced plans to supply more than 836,000 new housing units in the next four years, including 70,000 homes to be built in the area southwest of Seoul at the center of the LH scandal. Two civic groups were the first to report that 10 LH officials bought land there months before the highly secretive development plan was announced, accusing the officials of capitalizing on insider information for personal gain, a crime in South Korea.The government has identified 20 LH officials who are suspected of using privileged information to buy land in various areas before projects were slated to begin there. The investigation has been expanded to target government employees outside of LH, including members of Mr. Moon’s staff. As the dragnet grew larger, two LH officials were found dead this month in apparent suicides. One of them left a note confessing to an “inappropriate deed,” according to the local media.“LH officials had more access to information on public housing projects than any other, but sadly, we also learned through our investigation that they were ahead of others in real estate speculation,” said Lee Kang-hoon, a lawyer at the People’s Solidarity for Participatory Democracy, one of the two civic groups that uncovered the corruption among the LH officials.Mr. Moon’s political enemies have been quick to fan the flames among angry voters.The Changneung district in Goyang, east of Seoul, where the government plans to develop a new town to help alleviate the housing crunch. Yonhap/EPA, via Shutterstock“Stealing public data for real estate speculation is a crime that ruins the country,” the former prosecutor-general, Yoon Seok-youl, told the conservative daily Chosun Ilbo this month while criticizing the government’s handling of the situation.Mr. Yoon has become a darling among the conservative opposition, and recent surveys showed him to be one of the most popular potential candidates in next year’s presidential election. He recently clashed with Mr. Moon over the president’s effort to curtail the power of prosecutors, and resigned early this month.Lee Jae-myung, the governor of Gyeonggi Province, is another potential candidate in next year’s race. The liberal governor hopes to represent Mr. Moon’s party in the election and has promoted a “basic housing” policy in which the government would provide cheap and long-term rentals for South Koreans.He recently urged Parliament to enact a comprehensive law banning conflicts of interest among public servants. “If you want to clean the house, you must first clean the mop,” he said. “If you want to make South Korea a fair society, you must first ensure that those who make and implement policies act fairly.” More