20070103

White blogule to OH Se-hoon - swift boats across the Hangang

LEE Myung-bak may or may not become South Korea's next president. Like Sarkozy, he could be leading in the polls too clearly too early. Actually, the man who changed the face of the Capital city (Bus Rapid Transit system, restored Cheonggyecheon, Seoul Sup...) always seems in a hurry and doesn't like to waste time. For a start, he never took the time to change his own face. Plus he was twice convicted for starting an election campaign too early.
But swiftness is certainly not a handicap in Korea. After all, LEE's predecessor did become Korea's head of state in a hurry : GOH Gun assumed ROH Moo-hyun's interim during his short 2004 impeachment transition.
Still, LEE's successor could very well become the "next-former-mayor-of-Seoul president". It's just that 2007 looks a little bit too early for OH Se-hoon, who isn't even of the "former" kind since he only took the mayoral charge last summer. At least, this good looking politician won't have to change his face to seduce the voters.
Yesterday, OH decided to stop the pre-electoral stalemate on real estate issues, the most important topic in a country that doesn't seem to realize North Korea is about to collapse in a meltdown if not nuclear, at least economically ten times more destructive than Albania's*.

Anyway... ROH Moo-hyun's Government cannot go as far as it would like against real estate speculation because the opposition doesn't want it to succeed before this year's elections... the said opposition including many members of the "ruling" Uri party. OH Se-hoon is a member of the Grand National Party but wants to be remembered as a man who reaches for the good of the majority : he didn't wait for national guidelines to set tougher rules on new developments. A small move but a wise and a timely one.
Nowadays, some short sighted Gangnam investors see LEE Myung-bak as their only hope of postponing the inevitable burst of Seoul's real estate bubble. The wisest and swiftest among them are becoming OH Se-hoon's best supporters... with the hope of making in Gangbuk for their future losses in Gangnam : they have already moved their assets north of the Han river, flocking to such areas as Nowon-gu like rats before the shipwreck.



* once again : instead of benchmarking Germany for their reunification scenarios, Koreans would be inspired to remember what happened to Albania after the collapse of Enver Hoxha's regime.

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