South Korea

Korea Herald | English | News | Nov. 14, 2025 | Political Scandal or Corruption

Former National Intelligence Service (NIS) chief Cho Tae-yong was arrested amid a special counsel investigation into former President Yoon Suk Yeol's 2024 martial law declaration, just one month before the probe ends on December 14, 2025. The Seoul Central District Court granted a detention warrant for Cho due to concerns over potential evidence destruction. He faces charges including violating the NIS Act’s political neutrality clause, dereliction of duty, perjury, destruction of evidence, falsifying official documents, and violating testimony-related laws.

The core allegations against Cho involve his failure to report Yoon's martial law plans and subsequent troop movements to the National Assembly, which is mandated by the NIS Act. His arrest follows the special counsel’s arrest of former Prime Minister Hwang Kyo-ahn on similar charges of inciting insurrection related to support for martial law. Hwang remains under arrest pending a request for a detention warrant. The special counsel intends to focus the remaining investigation time on insurrection charges after indicting Yoon and others on related "acts benefiting the enemy" charges.

Cho’s arrest is significant given the history of political meddling and corruption accusations surrounding South Korea’s intelligence chiefs. He is the eighth NIS director to be arrested since the agency’s 1999 reestablishment, and if indicted, the tenth to face trial. This pattern reflects ongoing controversies involving the NIS in political and security affairs under multiple administrations. The special counsel is also pursuing detention of two other key suspects as the probe nears its deadline.

Joongang Ilbo | English | News | Nov. 14, 2025 | UndeterminedEconomic Growth

The National Growth Fund, launching on December 10, 2025, will prioritize investments in artificial intelligence (AI) and semiconductor companies, according to Financial Services Commission (FSC) Chairman Lee Eog-weon. The fund will start with a public investment of 75 trillion won ($51 billion) from the Korea Development Bank, which will be matched by another 75 trillion won from private sector capital, creating a 150-trillion-won fund aimed at supporting future-focused industries.

Chairman Lee emphasized that the fund aims to address the private sector’s difficulties in making large-scale investments due to technological uncertainty and risks. The National Growth Fund will help share risks and establish a foundation for growth in advanced industries. Additionally, the government plans to approve integrated managed accounts (IMAs) within the month, allowing securities firms to guarantee principal while investing customer deposits into corporate finance-related assets, thereby modernizing capital markets and expanding venture capital supply.

Regarding recent credit loan increases driven by leveraged investments, Lee stated that these fluctuations do not threaten financial soundness. He also addressed concerns over new real estate loan regulations introduced in June and October, acknowledging the inconvenience caused to genuine homebuyers but maintaining market stabilization as a priority. To ease difficulties, the government has kept the existing loan-to-value ratio for policy mortgages that benefit first-time homebuyers, young people, and newlyweds.

Chosun Ilbo | English | News | Nov. 14, 2025 | Political Scandal or Corruption

President Lee Jae-myung's government has launched a “Constitution-Respecting Government Innovation Task Force” to investigate public officials across 49 central agencies for alleged involvement in or cooperation with an insurrection. The probe has triggered widespread anxiety, resignation, and anger within the public sector, with fears of false accusations, personal attacks, and a paralysing freeze on personnel appointments until the investigation concludes next February.

The task force, overseen by the Prime Minister’s Office, plans to include private experts, such as legal professionals and members of military-related civic groups, in setting criteria and directing investigations. This involvement has been criticized as politicizing the process and akin to a purge targeting officials associated with the previous Yoon Suk Yeol administration. Investigations will cover actions regardless of officials’ awareness of any illegality, expanding scrutiny to those who worked during the acting authority period following martial law.

Officials have voiced concerns over the creation of “Insurrection Act Reporting Centers” and plans to examine personal mobile phones under coercive conditions, raising privacy and due process issues. The government intends to keep investigation records to use as a basis for future appointments or exclusions, which critics liken to blacklisting reminiscent of past political scandals. The probe affects some 750,000 public servants, including those in key ministries such as Defense, Justice, Foreign Affairs, and the Prime Minister’s Office.

Concurrently, President Lee’s office announced measures aimed at improving public servant welfare under the “TF for Enhancing Public Service Vitality,” including easing audit regulations, expanding remote work, abolishing duty rooms, and offering performance bonuses. However, critics view these efforts as contradictory, likening the situation to “giving a disease and then offering medicine,” given the harsh climate created by the insurrection investigation.