Daily Kor for Saturday, June 11, 2011

From story #2, students gather at Ch'ŏnggye
Plaza in downtown Seoul for a candlelight vigil.

Nothing can get students more riled up than raising tuition. In the absence of a Vietnam War or a military dictatorship to protest against, what else is there to rally about? And I really have no problem with what they're protesting over: South Korea's largely egalitarian approach to education has meant a considerable amount of socioeconomic mobility for hard-working young people that is simply not available in many other countries. My only concern is if the chinboistas are controlling these protests behind the scenes.

Meanwhile, inflationary pressures (or fears of them) have prompted the Bank of Korea to raise key interest rates a quarter of a percent to 3.25. That means a larger mortgage payment for me, but yeah, I realize it's not all about me, is it? Is it? I wonder if I should go to Ch'ŏnggye Plaza and light a candle.

Oh, and for my fellow readers who are in Hawaii, Happy King Kamehameha I Day! Enjoy the long weekend.

1. As solid economic growth continues, Bank of Korea raises key benchmark interest rate 25 points to 3.25 percent in surprise bid to stave off inflationary pressures (AP via WaPo, AFP, Bloomberg, Yonhap, Joongang Daily, Korea Herald)
• Seoul shares finish down 1.2 percent on rate hike (Reuters, Yonhap)
2. College students set to rally against tuition hikes, amid fears of clashes with police (Yonhap, Korea Herald, Korea Times)
• Audit Board plans major probe into tuition issue (Joongang Daily)
3. Washington urges other countries to use "extreme caution and vigilance" in dealing with North Korea and China after Pyongyang and Beijing announced joint development of North Korean island in Yalu River along the two countries' border (Bloomberg)
• US Assistant Secretary of State Kurt Campbell visits Seoul, says Washington supports Seoul's view that inter-Korean dialogue should take place before resumption of Washington talks with Pyongyang or stalled six-party denuclearization talks (Yonhap, Joongang Daily)
4. Bilateral accord between Seoul and Tokyo to return 1,205 volumes of archives seized during Japan's four-decade control of Korea goes into effect (Yonhap)
5. South Korea unveils new TA-50 trainer jets (UPI)
6. ROK trade surplus with China widens to US$13.05 billion in May (Yonhap)
7. South Korea announces development of eco-friendly 2000-Megawatt thermal energy plant in Samch'ŏk that will produce no CO2 emissions (Yonhap)
8. In Golden State's twisted version of Battle Royale, Californians vote to ban 15-year-olds from severely cash-strapped state (LAT)