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Politics · JusticeCharges and amounts undisclosed · Press ✓ 5 outlets

Police search NIS twice over suspected budget support for Yoon Suk-yeol government's National Security Office

Police searched the National Intelligence Service (NIS) twice this year, in January and September; it emerged on the 11th. The aim is to investigate suspicions that budget was improperly provided to the National Security Office in the presidential office under the Yoon Suk-yeol government (Yonhap, Korea Economic Daily, Chosun Ilbo). The charges written on the warrant have not yet been made known. Hankyoreh called it an ‘illegal support allegation’, and KBS, in an exclusive, reported that investigators are looking into the budget provided to the National Security Office. A search and seizure is a compulsory investigation in which investigators, under a warrant issued by a court, take away documents and digital records. But the reports do not confirm what budget moved, in what amount, or who the suspect is. The National Security Office is the body that advises the president on diplomacy and security, and the NIS is the intelligence agency that gathers overseas intelligence and intelligence on North Korea and handles counterintelligence. The point is that the flow of money between the two bodies is the subject of the investigation. Most of the NIS budget is set in secret, and only the National Assembly's Intelligence Committee examines it, to a limited extent. So if this money flowed to the president's staff organization, the question becomes whether it got around the checks.

On the same 11th, the NIS also stated its position on relations with the U.S. It denied the view that sharing of intelligence on North Korea outside the area of North Korean missiles had been restricted, saying ‘the total amount of intelligence on North Korea the U.S. provides has not shrunk either’ (Yonhap, KBS, MBC, JoongAng Ilbo). Dong-A Ilbo raised the question of whether distrust of NIS activity had grown, noting that the U.S. had pointed to counterintelligence as a standard of alliance. There is not yet any ground to tie the two items into one case. One is a domestic investigation and the other is intelligence cooperation within the alliance. Intelligence on North Korea is central to Korea–U.S. cooperation, so the dispute over the amount shared could turn into a security issue, and because police under the current government are investigating events from the previous government, political interpretations can also split. Still, it looks as if the intelligence agency's credibility is being tested at home and abroad at once. Today, what to watch is whether police will summon officials after analyzing the seized materials, and how the NIS and the presidential office respond. It is the parliamentary audit period, so questions may come up in the Intelligence Committee.

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By the numbers
12 deadKilled in the Riyadh airport strike. 309 were injured (AP, NPR)
46%Samsung Electronics' foreign ownership. The lowest in 17 years and 3 months (Chosun Ilbo, Electronic Times)
1 millionHacking attempts on the Bank of Korea and state-run banks this year (Yonhap, SBS)
Politics · JusticePress ✓ 7 outlets · reason for the audit per the minister's explanation

Minister Yun Ho-jung orders disciplinary audit of Gwangju SCIA chief Im Eun-jung. First oversight power exercised nine days after the agency's launch

Yun Ho-jung, minister of the Ministry of the Interior and Safety, said on the 11th that he would order a disciplinary audit of Im Eun-jung, head of the Gwangju Serious Crimes Investigation Agency (SCIA) (Yonhap, Korea Economic Daily, Dong-A Ilbo). It is the first oversight power exercised since the SCIA's launch. Yun said, in effect, that the SCIA had been mistaken for an organization that engages in politics (Kyunghyang Shinmun). Kyunghyang Shinmun reported that it began when Im voiced opposition to Kim Ji-yong, a candidate for SCIA chief. Im said, ‘I feel regret and sorrow at becoming the first audit target’, but added that she would respond with a sense of mission (Korea Economic Daily, Kyunghyang Shinmun). The Democratic Party said, ‘It is a common-sense measure, and to argue over a superior's personnel decisions is absurd’, and the opposition fired back that it was Yun's self-contradiction (Yonhap). In an editorial, Chosun Ilbo jabbed that the first case of the slapdash-launched SCIA is an audit. Yonhap described an ‘emergency in the agency's early days’, in which staff on the ninth day since launch had not yet learned their duties. The scope of the audit and whether discipline will follow are not yet known.

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Word of the day
Disciplinary auditAdministration

An agency's own direct review of whether a public official is performing duties properly and committing misconduct. Unlike a criminal investigation, its aim is internal measures such as discipline.


International · SecurityPress ✓ 9 outlets · casualties per Saudi authorities' announcement

Riyadh airport strike leaves 12 dead, 309 injured. Saudi Arabia signals retaliation; Houthis say “do not use the airports or airspace”

Saudi Arabian authorities said the airport in the capital, Riyadh, was hit by a missile attack suspected to be the work of Houthi rebels, killing 12 and injuring 309 (AP, NPR, CBS, USA Today, Japan Times). Saudi Arabia extended the airport closure (AP, Politico) and pledged a strong response (Washington Post). The Houthis again warned airlines and travelers not to use Saudi airports and airspace (Reuters, CBS). Yonhap reported that the Houthis called for all-out strikes except on holy sites. Saudi stocks fell after the attack (Reuters).

The U.S. is weighing involvement. NPR reported that President Trump is considering joining the fight against the Houthis. The UN secretary-general expressed ‘deep shock’, and countries including Pakistan condemned the attack (Yonhap). Foreign Minister Cho Hyun reviewed safety measures for Koreans abroad in the Middle East, and the government issued a departure advisory for all of Saudi Arabia (Yonhap). Yonhap analyzed that the incident also casts dark clouds over Saudi Arabia's drive to attract investment under ‘Vision 2030’. The exact type of weapon used in the attack and the timing and scope of Saudi retaliation have not been confirmed. Today, whether airport operations resume and the airlines' decisions on flights are what to watch.

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Industry · MarketsPress ✓ 5 outlets · ownership ratio per reports cited

Samsung Electronics' foreign ownership at 46%, lowest in 17 years. SK's Chey Tae-won: “Must hurry on capacity expansion”

Foreign investors' holdings in Samsung Electronics have fallen to 46%, a level last seen during the financial crisis (Chosun Ilbo, Electronic Times). It is the lowest in 17 years and 3 months. Electronic Times pointed out that foreign selling continued despite record earnings, and Maeil Business put it as holdings falling even amid the ‘celebration of 100 trillion won in earnings’. Foreign ownership is the share of issued shares held by foreign investors, and an indicator showing capital flows in the Korean stock market. The reasons foreign investors sold do not converge on one in the reports. The KOSPI plunged 2.62% on the 8th to close at 6,625.93, but a direct relationship between this plunge and the decline in ownership has not been confirmed.

SK Group Chairman Chey Tae-won said on the 11th that if the U.S. and China add semiconductor plants, Korea's share will shrink, and that ‘we must do something as fast as possible’ (Yonhap, Chosun Ilbo, Electronic Times). Regional outlets reported that Chey said the South Jeolla-Gwangju semiconductor complex could even grow larger than Yongin and that construction would start at top speed. Semiconductors are at the center of exports and the stock market, so a race to expand capacity is a race for market share. On Monday the KOSPI digests both pieces of news at once. Today, whether foreigners turn to net buying and the movement of Samsung Electronics' share price are worth watching.

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Society · CrimePress ✓ 6 outlets · charges under police investigation

Man in his 20s who killed mother-in-law and abducted wife during lawsuit arrested after 7 hours in Gangwon mountains. Restraining order had ended 11 days earlier

A man in his 20s who killed his mother-in-law in Seoul and drove off with his wife was placed under emergency arrest in a mountain in Gangwon Province on the 11th (Korea Economic Daily, Kyunghyang Shinmun, Yonhap). It came 7 hours after he fled. The man was in the middle of a marriage annulment suit (Yonhap) and committed the crime 11 days after the restraining order ended (SBS, Dong-A Ilbo). SBS reported exclusively that a domestic-violence report had recently been filed in this household. Kyunghyang Shinmun reported the charge as murder of a lineal ascendant, among others. The man was taken under escort to Songpa Police Station in Seoul (YTN, Newsis).

The question is why it could not be stopped. Yonhap reported that, in the gap created when the restraining order ended, the victim's smartwatch was dead. A smartwatch is a device issued so that the wearer can send a distress signal to police when in danger. A restraining order loses effect when its set period ends, and who is responsible for checking whether it was extended and for checking personal protection devices has not yet been sorted out. The wife's condition and the exact course of the crime are matters for the police investigation to confirm. Today, whether a detention warrant is requested and the results of a check of protection measures may come out.

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In brief
  • A tanker was hit by an unidentified projectile in the Strait of Hormuz, but the crew were safe. The party behind the attack was not reported.Yonhap and 3 other reports
  • A boat carrying migrants off Djibouti to war-torn Yemen capsized, killing 109. Fifteen children were among them.Yonhap, The Sun
  • In Nepal, a landslide set off a flash flood a month and a half after the major flood, leaving at least 5 missing.Yonhap
  • The Polish government said it has obtained information on a possible assassination attempt targeting the prime minister and the defense minister. Details are yet to be confirmed.Yonhap · single report
  • The Pope said he will undergo surgery within days to remove a lung nodule. It was reportedly found early.Yonhap · single report
  • KIA lost 1-4 to Lotte, so the race for third place in pro baseball will be decided in the final games on the 12th. It is competing with LG.Yonhap, Chosun Ilbo
  • Cheong Wa Dae said President Lee Jae-myung ordered the handling of the Daegu accident from a golf course, and the opposition criticized it as ‘emperor golf’.Yonhap · single report
  • BTS drew 150,000 people to their first concert in Peru. The 25.1 billion won tourism economic effect is a projection.Yonhap · single report
Seven minutes every morning, one front page

Unverified — what we could not confirm

“Russia and Ukraine have agreed to an energy truce.” A claim President Trump posted on social media. The scope and duration have not been disclosed, and President Zelensky told NBC ‘it is news to me’ before later saying he supports the truce.
“The NIS has reduced sharing of intelligence on North Korea with the U.S.” The NIS denied it. In response to the view that sharing outside North Korean missiles had been restricted, it said the total amount of intelligence the U.S. provides had not shrunk either.
“The Russian diesel deal will bring U.S. fuel prices down.” Bloomberg TV pointed out that the deal will find it hard to lower U.S. prices. On Friday, WTI actually rose 0.39% to $91.85.

Influencer watch

  • Pavel Durov Telegram · 10/11Telegram founder Pavel Durov posted that AI tools now let designers build their ideas, not just draw them.
  • Michael Saylor X · 10/11Strategy chairman Michael Saylor hinted on X that the firm's 848,000-bitcoin stash may grow.

Statements as posted, not fact-checked.

Glossary · dotted words — economics, law, security and science terms explained in the context of the story. The list grows every day.
INSIDEPolice search NIS twice over suspected budget support for Yoon Suk-yeol government's National Security OfficePolitics · JusticeMinister Yun Ho-jung orders disciplinary audit of Gwangju SCIA chief Im Eun-jung. First oversight power exercised nine days after the agency's launchPolitics · JusticeRiyadh airport strike leaves 12 dead, 309 injured. Saudi Arabia signals retaliation; Houthis say “do not use the airports or airspace”International · SecuritySamsung Electronics' foreign ownership at 46%, lowest in 17 years. SK's Chey Tae-won: “Must hurry on capacity expansion”Industry · MarketsMan in his 20s who killed mother-in-law and abducted wife during lawsuit arrested after 7 hours in Gangwon mountains. Restraining order had ended 11 days earlierSociety · Crime