Welcome to the Primer page. Here you will find explanations for some of the terms and concepts I frequently use in my posts, which might be unfamiliar to those who are not closely following South Korean politics and society. To be updated frequently.

Glossary

Minjoo (Democratic Party of Korea)

The Democratic Party of Korea, often referred to as “Minjoo” (which means “Democratic” in Korean), is the main liberal/progressive political party in South Korea. It is the party of former Presidents Kim Dae-jung, Roh Moo-hyun, Moon Jae-in and current leader Lee Jae-myung. The party typically draws strong support from the “Gen-86” (see below) and generally advocates for engagement with North Korea, labor rights, and social welfare programs.

Gen-86 (386 Generation)

The term “Gen-86” (derived from the earlier “386 Generation”) refers to the generation of Koreans who were born in the 1960s, attended university in the 1980s, and were in their 30s when the term was coined in the 1990s. This generation was the driving force behind the pro-democracy movement against the military dictatorship in the 1980s. Now in their 50s and 60s, they have become the mainstream political establishment, holding significant power within the Minjoo Party and other sectors of society. Understanding this generation is key to understanding the current political landscape in South Korea.

Korean Discount

The long-standing tendency of South Korean listed companies to trade at lower valuations than comparable firms in other markets. The usual explanations are governance-related: opaque chaebol ownership structures, circular shareholding, low dividend payouts, and a legal tradition that has given minority shareholders little protection when a controlling family restructures its companies. Geopolitical risk from North Korea is often cited too, though analysts disagree on how much of the gap it actually explains. Closing the discount has become a standing political promise — every recent administration has pledged some version of corporate governance reform — which makes it a useful yardstick for judging whether a market rally reflects reform or luck.

Cho Kuk

A law professor and close ally of President Moon Jae-in, once widely regarded as a future presidential contender. Appointed justice minister in 2019 to lead prosecution reform, he resigned within weeks as allegations mounted over his family’s affairs, most damagingly the academic credentials his daughter used in university admissions. The affair drew mass rallies on both sides and split the country. Its lasting significance is less legal than moral: a progressive camp that had built its authority on fairness was accused of gaming the same system it denounced, and the phrase “Cho Kuk affair” now serves as shorthand for that charge of hypocrisy — particularly among younger voters.

Honam

The southwestern region of South Korea, comprising North and South Jeolla provinces and the city of Gwangju. Passed over during the industrialization drive of the 1960s and 1970s, which concentrated investment in the southeastern Yeongnam region, Honam became the country’s political counterweight: the home base of Kim Dae-jung, the site of the 1980 Gwangju Uprising and its suppression, and ever since the most reliable electoral stronghold of the Minjoo party lineage. Discrimination against people from the region in hiring, housing, and marriage was commonplace well into the 1990s. Regional loyalty remains one of the strongest predictors of how a Korean votes, which is why targeted investment in Honam is never read as merely economic.