Korean Protest

Two separate protests were held in the upper 50'st off of 5th Avenue.

President of the Republic of Korea’s Yoon Suk Yeol said in his statement to the assembly, “attempts to alter the status quo by force and nuclear and other weapons of mass destruction, the global community is once again witnessing its citizens’ freedom and peace being put into jeopardy. Such threats must be overcome through solidarity and commitment to the framework of universal global norms consolidated over the years within the United Nations system… and any attempt to turn away from the United Nations system and universal norms will divide the global community into blocs, further compounding the crisis and turmoil,” he said.

The United States' recent legislation will have an impact on Korea's electric car manufacturers. The passed legislation offers tax credits of up to $7,500 to buyers of electric vehicles assembled in North America, which is a component of the Inflation Reduction Act and excludes China from supply chains and should boost American production of electric cars.

The side effect, however, wipes out tax credits for vehicles manufactured oversees, making them pricier for American buyers. Hyundai and their affiliate Kia manufactured in South Korea, will be affected by this, and this creates some tension between the countries.

Tesla continues to dominate the electric car market with 68% market share. However, if buyers have incentives to buy here, Tesla's competitors may be able to bite into the profits.

It is unknown what or who the protests' targets were for.

On another note: President Biden will be addressing the United Nations Assembly September 21st.

According to Jake Sullivan, national security advisor Biden will, “offer a firm rebuke of Russia's unjust war in Ukraine and make a call to the world to continue to stand against the naked aggression that we've seen these past several months… [and will also] underscore the importance of strengthening the United Nations and reaffirm core tenets of its charter at a time when permanent members of the security council has struck at the very heart of the charter by challenging the principle of territorial integrity and sovereignty."

[United Nations Republic of Korea statement summary here: https://gadebate.un.org/en/77/...]