On Saturday, the National Assembly of South Korea passed a motion to impeach President Yoon Suk Yeol over his Dec. 3 martial law declaration. Supporters of his impeachment cheered in front of the National Assembly, while those who opposed it were despondent at Gwanghwamun Square. The world is now anxiously watching for signs of South Korea’s future, wondering, “What’s next?” According to foreign press, Korea will have to face “uncertainty” for a while. The problem is that “uncertainty” means “instability and insecurity.” Both domestic and foreign affairs will have to be pending for the time being. Watching the current attempt to impeach Yoon and the ongoing investigations of government officials under the alleged charge of “insurrection,” foreign observers have a feeling of deja vu. Indeed, it strikingly resembles the impeachment of ex-President Park Geun-hye and the blacklist investigations in 2016. Repetition of such political turmoil is not something we should be proud of. Rather, it embarrasses us because it does not suit the image of an advanced country known for Hallyu, cutting-edge technology and economic success. Moreover, recurrent political chaos and turbulence may severely damage South Korea’s economy, as foreign investors may withdraw their investments due to the “uncertainty” of Korea’s future prospects and unstable currency exchange rates. The reality, however, is that the current chaos in the South Korean political arena is less a matter of random chance than of being trapped in a vicious cycle of “repetition.” It behooves Korean politicians to bear in mind the famous words of George Santayana: “Those who ignore the past will be doomed to repeat it.” We should learn from our past mistakes, instead of mining them for revenge. Korean politicians should be aware that ordinary people are wondering, “Why is our political climate still staggering in the 19th century, while South Korea is foremost in so many other areas?” When the previous Moon Jae-in administration was launched in 2017, for example, some people predicted that South Korea would retreat to the 1980s, when socialism-oriented student activists led the “anti-war, anti-nuke and anti-America” campaign. The Moon administration, which was filled with those former student activists, called for peace with North Korea, shutting down nuclear plants and a more aggressive stance in the Korea-US alliance. Since the Yoon Suk Yeol administration set sail in 2022, it has tried to bring South Korea back to the present under the name of “normalization.” As a result, it has focused on standing up to North Korea, continuing the operation of nuclear plants and restoring the weakened Korea-US relationship. Suppose the Democratic Party of Korea wins the next election and pursues basically the same policies of the Moon administration. If so, South Korea will once again retreat ineluctably into the past. And if the People Power Party wins five years after that? Then, South Korea will return to the present at best. Due to this monotonous tendency, the South Korean political scene has gone back and forth like a yo-yo between the present and the past incessantly for the past few decades, instead of moving forward into the future. If such repetition continues, it will be disastrous for South Korea because she will be far behind other countries that are constantly moving on to the future. In order to make South Korea a prosperous, highly esteemed country, Korean politicians must take care not to completely denounce the previous government’s policies. The previous government is not a mortal enemy to be eliminated. It is imperative that a country’s foreign policies have “consistency.” Ironically, one of the mottoes of the Park Geun-hye administration was “normalization of the abnormal.” If anything, however, her administration turned out to be abnormal. In fact, “normalization of the abnormal” has always been a motto of the Korean government since liberation, because each government has vehemently denounced the previous government. If South Korea remains caught in such a regrettable loop, she may look like a country not even capable of autonomy. If so, foreign experts worry about the possibility that totalitarian countries might misjudge the situation and see South Korea as an object for their territorial expansion. Korean politicians should stop hating and antagonizing each other and learn to coexist for the sake of survival. They must reset their minds and start all over again. Then, a new South Korea will be born, which Koreans can proudly bequeath to their descendants. Otherwise, we can expect that social and political chaos will continue to disrupt the country and Korea’s future will remain uncertain and nebulous. Ordinary people crave stability because many domestic or foreign affairs will have to stop until the final decision of the Constitutional Court, which will likely take two to three months at least. We hope that Korean politicians consider the future of their country first, instead of the usual monotonous power politics. We hope that they can stop yo-yoing, sort out the disorder and restore decency and stability as soon as possible. By Kim Seong-kon Kim Seong-kon is a professor emeritus of English at Seoul National University and a visiting scholar at Dartmouth College. The views expressed here are the writer’s own. -- Ed.
NoneOTTAWA — Prime Minister Justin Trudeau is taking some time to reflect after Chrystia Freeland's bombshell resignation, the natural resources minister said on Tuesday. "The prime minister, as I understand it, a number of caucus colleagues have said that the prime minister has said that he will reflect on both the decision that minister Freeland made, but also what he's heard from members of his own caucus," Jonathan Wilkinson said. "I think we all need to give him a little time to reflect, and I respect that fact that he's going to take some time to reflect." Freeland quit as finance minister on Monday morning just hours before she was set to present the government's fall economic statement. That kicked off a day of turmoil on Parliament Hill that began with a morning cabinet meeting and wrapped with an evening meeting of the Liberal caucus, where some members called for Trudeau to step aside as party leader. That includes New Brunswick MP Wayne Long, one of 23 caucus members who signed a letter back in October calling for Trudeau to quit. "We certainly have more MPs than last time. So, if I had to guess how many more right now, I'd say we're probably at 40 to 50 right now," Long said. "But there's a lot more than that. I mean, this is so different than times before." The attempt to oust Trudeau earlier in the fall took up a great deal of oxygen on Parliament Hill, but ultimately failed to garner support from inside the cabinet. This time, Long said, at least five cabinet ministers believe it's time for a change at the top. "I certainly am one to say to my colleagues, to ministers in particular: 'Let's come out of the shadows,'" Long said. "Let's openly, once and for all, state how we feel and let's move forward with what we know has to happen." Before question period, cabinet ministers Anita Anand and Kamal Khera told reporters they support the prime minister. After the failed coup in October, Liberal MPs emerged from a tense caucus meeting saying they believed Trudeau was taking time to reflect. But the very next day, he publicly stated his intention to stay on as leader at a press conference. That is why P.E.I. MP Sean Casey, who called for Trudeau to resign in October, does not think the prime minister will take a walk in the snow now. "There's not a single indicator in anything that he says or does that would tell me otherwise. He seems to be absolutely committed and he has throughout the piece, he's been remarkably consistent," Casey said. "What he says, what he does, how he does it, how he says it, the energy he puts into it, I don't believe for one second it's an act. I think it's real." Whenever Trudeau has been asked if he intends to lead the Liberals in the next election, the response has been an unambiguous "Yes." The Liberals have faced three non-confidence votes in the House of Commons this fall and have struggled to advance legislation because of a filibuster on a Conservative privilege motion related to misspending at a now-defunct green technology fund. On Tuesday, Conservative Leader Pierre Poilievre once again called on NDP Leader Jagmeet Singh to topple the government, criticizing him for voting against the latest non-confidence motion last week. Poilievre said Canada needs a new prime minister because U.S. president-elect Donald Trump can smell weakness from a mile away and the Trudeau government is weak. Bloc Québécois Leader Yves-François Blanchet also said a new Parliament is needed "as soon as possible," and he wants to see an election called in January. Blanchet said Trudeau has lost the political, moral and ethical authority to govern. He said the election should happen as soon as possible in the new year because Canadians do not want a campaign over the holiday season. On Monday, Singh called for Trudeau to step down but did not make a firm comment on whether the NDP would declare non-confidence in the Liberal government. Instead, Singh said "all options are on the table." The NDP, which ended a formal supply-and-confidence agreement to support the Liberals in September, has voted with the government on all three non-confidence motions. Singh has repeatedly said a Poilievre-led Conservative government would cut things New Democrats have fought for like dental care, pharmacare and other social programs. The Tories are also calling on the House of Commons trade committee to study the tariff threat between the week of Jan. 6 and Jan. 20, the date of Trump's inauguration. The House of Commons is expected to rise for the holiday break on Tuesday and return on Jan. 27. In her resignation letter, Freeland said she's been at odds with Trudeau in the last few weeks over the government's fiscal priorities. She said the government should do away with costly "political gimmicks" and instead set money aside to deal with a potential tariff war with the U.S. Dominic LeBlanc was sworn in as the new finance minister Monday, minutes after the government's fall economic statement was released. The economic update shows the deficit has grown to nearly $62 billion, far beyond the $40-billion target Freeland set earlier this year. It includes $1.3 billion in new spending on measures to beef up the border in response to Trump's threat to impose 25 per cent tariff threats on Canadian goods. LeBlanc, who is also in charge of intergovernmental affairs and democratic institutions, says his main priority as finance minister will be to address affordability issues. He will also continue to oversee the public safety file, implementing new border measures, until Trudeau holds a broader cabinet shuffle. That's expected to happen soon in order to replace ministers who have announced they won't seek re-election. This report by The Canadian Press was first published Dec. 17, 2024. — With files from Nick Murray and Michel Saba David Baxter, The Canadian Press
COIMBATORE : The Coimbatore city police booked All India Congress Committee (AICC) secretary ‘Mayura’ Jayakumar and two others for issuing threats to party functionaries. A group of party functionaries complained against Jayakumar to Congress general secretary KC Venugopal, who arrived at Coimbatore International Airport by road from Palakkad in Kerala to take a flight to New Delhi last Sunday night. It is alleged that Jayakumar and INTUC president ‘Kovai’ Selvan entered into a wordy duel at the airport on Sunday night. As tension prevailed, the CISF sleuths intervened and persuaded the two factions to leave the spot. The video of the incident went viral on social media causing embarrassment to party functionaries. Selvan lodged a complaint the next day against Jayakumar. Based on his complaint, the Coimbatore city police booked Jayakumar and two others (Tamil Selvan and Krishnamurthy) on charges of verbally abusing and issuing death threats. Further inquiries are on. Tension has been up in the party after some members of the District Congress Committee passed a resolution to remove Jayakumar from his post alleging that he misused his position.Hezbollah fires about 250 rockets and other projectiles into Israel in heaviest barrage in weeks
A power outage at SpaceX's California facility led to a temporary loss of ground control during the historic Polaris Dawn mission. This incident has brought attention to potential conflicts of interest and the lack of disclosure regulations for private space companies. The outage occurred due to a cooling system leak that triggered a power surge, rendering SpaceX mission control unable to command the Dragon spacecraft. Communication was maintained via the Starlink satellite network despite this setback. Jared Isaacman's nomination as NASA administrator intensifies concerns due to his SpaceX ties. Experts highlight the need for transparency to ensure safety and address potential conflicts, as the regulatory environment currently lacks sufficient oversight. (With inputs from agencies.)
Elon Musk ‘s net worth has reached an unprecedented $347.8 billion. This significant increase in wealth is attributed to a surge in the stock of Tesla Inc. TSLA and a successful funding round for his AI startup, xAI. What Happened : Musk’s wealth has seen a substantial increase due to a 3.8% jump in Tesla stock and a new funding round for xAI, which now values the startup at $50 billion. This has led to Musk surpassing his previous wealth record of $340.4 billion set in 2021. The Insider reports that the net worth of the Tesla and SpaceX CEO has increased by an unmatched $117.8 billion this year, placing him over $128 billion ahead of the second richest person, Amazon founder Jeff Bezos . Tesla’s stock has seen a surge following Donald Trump ‘s victory in the U.S. presidential election, closing on Friday at $352.56. Mark Malek , the chief investment officer at Siebert, suggested that the stock’s increase is partly due to Musk’s public involvement in Trump’s campaign. Also Read: “I Knew If I Bought a Sink”: What Does Elon Musk’s Cryptic Tweet Mean? Musk’s 13% stake in Tesla has also seen a significant increase in value, with his personal fortune now exceeding Salesforce’s $327 billion. Why It Matters : The surge in Musk’s wealth highlights the growing influence of tech entrepreneurs in the global economy. Musk’s companies, Tesla and SpaceX, have been at the forefront of technological innovation, driving advancements in electric vehicles and space travel. The successful funding round for xAI, Musk’s AI startup, also underscores the increasing importance of artificial intelligence in various sectors. This record-breaking increase in Musk’s wealth is a testament to the significant role these tech giants play in shaping the future of our world. Read Next Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Ancient Wood Hold Clues About Massive Solar Storms
BIG TEN ROUNDUPOn November 20, 2024, TransAct Technologies Incorporated entered into Amendment No. 4 (the “Credit Facility Amendment”) with Siena Lending Group LLC to amend the Loan and Security Agreement dated March 13, 2020. This agreement was previously amended thrice, with the latest being in May 2023. The Credit Facility Amendment, alongside a Second Amended and Restated Fee Letter, marked significant changes to the existing agreement. The major update in the Credit Facility Amendment includes extending the maturity date from March 13, 2025, to March 31, 2027. Moreover, the Amended Fee Letter introduced an increase in the minimum borrowing amount from $2,250,000 to $3,000,000. This change mandates the company to either uphold outstanding borrowings of at least $3,000,000 in principal amount or pay interest on a minimum of $3,000,000 principal amount of loans, even if such an amount is not actually outstanding. Both the Credit Facility Amendment and the Amended Fee Letter have been submitted as Exhibits 10.1 and 10.2, respectively, for reference. It is crucial to note that the descriptions provided above do not encompass the complete details of the amendments and are best understood by referring to the official documentation. The filing with the Securities and Exchange Commission (SEC) also includes the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, per Item 2.03 of the report. The financial statements and exhibits related to the amendments have been attached as part of Item 9.01. Overall, the amendments signify a significant step for TransAct Technologies in reshaping its financial agreements, providing insights into the evolving financial landscape of the company. This report was issued on November 21, 2024, and was signed by Steven A. DeMartino, the President, Chief Financial Officer, Treasurer, and Secretary of TransAct Technologies Incorporated, on behalf of the registrant. This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TransAct Technologies’s 8K filing here . TransAct Technologies Company Profile ( Get Free Report ) TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents. Featured Articles
