Minerva (Internet celebrity): Difference between revisions
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On [[2009]] [[January 7]], the prosecutors arrested a suspect<ref>[[The Korea Times]]: [http://koreatimes.co.kr/www/news/biz/2009/01/123_37648.html Foreigners Puzzled Over Minerva's Arrest], 2009-01-11</ref> believed to be Minerva for "spreading false rumors on the Internet". The prosecutors announced the anonymous Internet economist was a 30-year-old unemployed man.<ref name="hani0109" /> |
On [[2009]] [[January 7]], the prosecutors arrested a suspect<ref>[[The Korea Times]]: [http://koreatimes.co.kr/www/news/biz/2009/01/123_37648.html Foreigners Puzzled Over Minerva's Arrest], 2009-01-11</ref> believed to be Minerva for "spreading false rumors on the Internet". The prosecutors announced the anonymous Internet economist was a 30-year-old unemployed man.<ref name="hani0109" /> |
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==Arrest Cause Article== |
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Prosecutors have regarded the following text as a false rumor. |
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Original text is: |
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{{Quotation|2008년 12월 29일 오후 2시 30분 이후 주요 7대 금융 기관및 수출.입<br />관련 주요 기업에게 달러 매수를 금지할 것을 긴급 공문 전송.<br />- 정부 긴급 업무 명령 1호-<br />중요 세부 사항은 각 회사별 자금 관리 운용팀에 문의 바람. 세부적인 스<br />팩은 법적 문제상 공개적으로 말할수 없음.<br />단 한시적인 기간 내의 정부 업무 명령인 것으로 제한 한다.|미네르바 글모음 제4권, 10. 대정부 긴급 공문 발송 - 1보 (2008-12-29)<ref>Minerva usually writes articles untidily.</ref>}} |
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Translation of the text is: |
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{{Quotation|2008 Dec 29, after 2:30 PM, sending a urgent official note to the 7 Main financial agencies and export-import<br />corporations that is not to buy dollars<br />- the Government Urgent Business Direction No.1 -<br />Important details can be inquired to finance management team of the corporation. Det-<br />ails cannot be told owing to legal problem.<br />But this order is limited within a fixed period.|Minerva Writings Collection Vol.4 Art.10. Sending a urgent official note to<ref>A Korean letter '대' means 'big', 'great' or 'to (something/someone)'. And the original article was also vague to Korean readers.</ref> the government - First report (2008-12-29)}} |
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==Controversy== |
==Controversy== |
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Revision as of 16:43, 12 January 2009
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Minerva (Template:Lang-ko) is the internet username of a "netizen" who wrote on Korean economy and economic policies of the Korean government. Minerva, or person(s) behind that handle, has posted articles in Daum Agora from March 2008 to January 2009. Daum Agora is one of the largest internet debate bulletin boards in South Korea.
Minerva has been successful to predict major events in Korean economy and was quick to provide solutions both for the government and households. Despite his/her warnings, the economic policies of the Korean government continued to steer the nation's economy to the wrong way, according to his opinions, and Minerva has become one of the most influential critics of the government policies. It was under this background that Minerva became known as “the Internet Economic President”. Among the famous predictions Minerva has made are: the collapse of Lehman Brothers and its potential consequences, and the sharp decline of South Korean currency value against U.S. dollars at specified time points.[1]
On 2009 January 7, the prosecutors arrested a suspect[2] believed to be Minerva for "spreading false rumors on the Internet". The prosecutors announced the anonymous Internet economist was a 30-year-old unemployed man.[1]
Arrest Cause Article
Prosecutors have regarded the following text as a false rumor.
Original text is:
2008년 12월 29일 오후 2시 30분 이후 주요 7대 금융 기관및 수출.입
관련 주요 기업에게 달러 매수를 금지할 것을 긴급 공문 전송.
- 정부 긴급 업무 명령 1호-
중요 세부 사항은 각 회사별 자금 관리 운용팀에 문의 바람. 세부적인 스
팩은 법적 문제상 공개적으로 말할수 없음.
단 한시적인 기간 내의 정부 업무 명령인 것으로 제한 한다.— 미네르바 글모음 제4권, 10. 대정부 긴급 공문 발송 - 1보 (2008-12-29)[3]
Translation of the text is:
2008 Dec 29, after 2:30 PM, sending a urgent official note to the 7 Main financial agencies and export-import
corporations that is not to buy dollars
- the Government Urgent Business Direction No.1 -
Important details can be inquired to finance management team of the corporation. Det-
ails cannot be told owing to legal problem.
But this order is limited within a fixed period.— Minerva Writings Collection Vol.4 Art.10. Sending a urgent official note to[4] the government - First report (2008-12-29)
Controversy
There are many doubts and criticisms surrounding the arrest. For example, the law (Electronic Communication Fundamental Law, Template:Lang-ko) Minerva is known to have perpetuated is unconstitutional.
A person spreading a false rumor to damage public good by using a electronic machine is sentenced to imprisonment for under five years or given a fine of under 50,000,000 won
— Electronic Communication Fundamental Law Article 47 Clause 1, Republic of Korea
Many people doubt whether the writings of Minerva are obviously false. There is evidence indicating that the government did control the exchange rate.
Foreign bloggers writing on Korea cast doubt about the government's handling of the opinionated blogger. Some express concerns that this would mean demise of freedom of speech in Korea.[5]
Recent events
Translated from Korean Wiki.[6]
- 2008-3 : Minerva, starts to post in Economics dicussions bulletin in "Agora"
- 2008-7-14 : Minerva, "Household better to prepare for the commodity price rise" predicts heavy impact on Korean households of USA's sub-prime Mortgage
- 2008-8-25 : Minerva,"Korean Development Bank has to consider toxic asset that amounts to 50billion KRW" objects to the acquisition of Lehman Brothers by Korean Development Bank. (Lehman shares tumbled over 90% on September 15, 2008)[7]
- 2008-8-29 : Minerva, predicts rise of KRW agains USD to 1125 in mid September, 1180~1200 in end of September.
- 2008-9-18 : Minerva, "short cover the security funds, because KOSPI will fall to 1210~1235". (KOSPI was at that time 1392)
- 2008-10-6 : Minerva, predicts that KRW may surge to 1400 without Korea-US currency swap (KRW went over 1400 against USD in the end of October)
- 2008-11-3: Minister of Justice, mentioned possible investigation on "Minerva"
- 2008-11-11 : Press reported "Minerva is supposed to be a man in early 50s with experience with securities company, having stayed overseas,quoting intelligence agency.
- 2008-11-13 : Minerva, announces to stop posting.
- 2008-11-16 : Union of citizen for democratic press, awards Minerva the Prize
- 2008-11-17: KBS, Current Affairs 360, broadcasted a prgramme, 'Why, Minerva phenomenon?'
- 2008-11-18 : Professor Kim,Tae Dong, makes an apology regarding the interview with Current Affairs 360,criticizing that the interview with himself has been distorted by the producer [8]
- 2008-12 : A magazine,"Sindong-a" published "Minerva"'s contribution arguing that it contacted him secrectly.
- 2008-12-24: A staff of Ministry of Strategy and Finance admitted to the reporters that he asked for "supports" to major importers,exporter, state owned enterprises, and financial institutions.[1]
- 2008-12-29
- Minerva, posted about the government intervention, hinting house holds and small and medium enterprises should utilize the chance.
- Ministry of Strategy and Finance denies the intervetion in a press release[9]
- Prosecutors started an investigation [10]
- 2009-1-5: Minerva's last posting, "We should rely on hope"
- 2008-1-7: Minerva arrested by the Prosecutors
Objection against KDB's takeover of Lehman Brothers Holdings
Minerva has expressed concerns over the planned takeover of Lehman Brothers Holdings, Inc. by Korean Development Bank (KDB). This has been well before financial instability of the US investment bank has been known to the public.
See also
References
- ^ a b c Prosecutors arrest man known as ‘Minerva’, Hankyoreh, 2009-01-09 Cite error: The named reference "hani0109" was defined multiple times with different content (see the help page).
- ^ The Korea Times: Foreigners Puzzled Over Minerva's Arrest, 2009-01-11
- ^ Minerva usually writes articles untidily.
- ^ A Korean letter '대' means 'big', 'great' or 'to (something/someone)'. And the original article was also vague to Korean readers.
- ^ Foreigners Puzzled Over Minerva's Arrest, Koreatimes, 2009-01-11
- ^ http://ko.wikipedia.org/wiki/%EC%95%84%EA%B3%A0%EB%9D%BC_%EB%AF%B8%EB%84%A4%EB%A5%B4%EB%B0%94#.EC.9D.BC.EC.A7.80 Korean Wiki
- ^ http://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers Bankruptcy of Lehman Brothers
- ^ 김태동 교수 “미네르바 미안하다” 시사360 인터뷰 사과… 네티즌 “PD 해명하라” 비난《조선일보》2008.11.19 13:37
- ^ 검찰 “미네르바 긴급체포 조사 중”《동아일보》2009-01-08 15:58
- ^ 檢, 인터넷 논객 `미네르바' 긴급체포(종합)
External links
- Economist,False God?/online Nostradamus, and the search for his identity
- Financial Times, Financial blogger arrested in South Korea
- AFP,South Korea's arrested Internet pundit pleads not guilty
- Korean Wiki
- Minerva, the reasons of Arrest (Cartoon)
- Minerva's writings 4 PDF files(collected by Collecting Writings of Daum Agora Minerva (Template:Lang-ko)) (Minerva writings were all deleted. But the internet community collected his writings and made 4 PDF files which can be freely downloaded.)