[Morning Briefing] 6th Hearing on Yoon's Impeachment... New York Stock Exchange Rises Despite Alphabet's Disappointing Earnings

◆ 6th Hearing on Yoon's Impeachment... Testimonies from Key Figures Including Gwak Jong-geun

The Constitutional Court will conduct a full-day hearing on the impeachment trial of President Yoon Seok-yeol on the 6th, questioning key figures such as commanders who mobilized military forces during the 12·3 martial law. The 6th hearing, held at the Constitutional Court's main courtroom starting at 10 a.m., will feature testimonies from Kim Hyun-tae, commander of the 707th Special Mission Group, former Army Special Warfare Command commander Gwak Jong-geun, and Park Chun-seop, Chief Economic Secretary of the Presidential Office. The questioning of these witnesses will take place at 10:30 a.m., 2 p.m., and 3:30 p.m., respectively. As in the 5th hearing on the 4th, the questioning will alternate between the National Assembly and President Yoon's legal representatives, with President Yoon expected to express his opinions after each witness's testimony. The most anticipated witness is former commander Gwak, who has made statements unfavorable to President Yoon in the National Assembly. Gwak testified at the National Assembly's special committee on the investigation of the martial law declaration by the Yoon administration, stating, "The President personally called me on a secure phone and instructed me to 'remove the personnel inside.'" Previously, Gwak was indicted for mobilizing 197 troops from the 707th Special Mission Group and 269 troops from the 1st Airborne Brigade to the National Assembly under the orders of former Minister Kim during the martial law declaration, and for ordering some troops to enter the National Assembly.

◆ New York Stock Exchange Rises Despite Alphabet's Disappointing Earnings

The three major indices of the New York Stock Exchange turned from a downward trend to an upward trend, closing higher. Despite Alphabet, Google's parent company, releasing disappointing earnings, easing concerns over the trade war led to bargain hunting, boosting the indices. On the 5th (Eastern Time), the Dow Jones Industrial Average closed at 44,873.52, up 317.48 points (0.71%) from the previous session. The S&P 500 index rose 23.60 points (0.39%) to 6061.48, and the Nasdaq Composite Index closed at 19,692.33, up 38.31 points (0.19%). Analysts suggest that the easing of market concerns over the trade war led by President Donald Trump and the excessive shock from DeepSeek, which recently shook the market, contributed to the bargain hunting that boosted the indices. Nvidia surged 5.35% to $124.83, regaining a market capitalization of $3 trillion. Nvidia's market cap was recorded at $3.057 trillion. Despite Alphabet's earnings falling short of market expectations, the company announced plans to invest $75 billion in AI this year, significantly exceeding the initial estimate of $57.9 billion.

◆ Trump Claims Gaza Ownership and Development Plan is Widely Welcomed

U.S. President Donald Trump claimed on the 5th (local time) that his plan for the long-term ownership and development of the Gaza Strip, which has been criticized internationally, is being widely welcomed. According to AFP, President Trump, during a White House event marking the appointment of Attorney General Pam Bondi, responded to a question about international reactions to his 'Gaza plan' by saying, "Everyone loves it." He declined to answer further questions, stating it was "not the appropriate time." The previous day, after a summit with Israeli Prime Minister Benjamin Netanyahu, President Trump announced a post-war plan for the Gaza Strip, proposing the relocation of Palestinians and long-term U.S. ownership and development of the area. However, Middle Eastern countries, including Saudi Arabia, as well as European allies of the U.S., expressed critical views. The French Foreign Ministry issued a statement on the 5th, opposing the forced relocation of Palestinians in Gaza, calling it a serious violation of international law and an infringement on the legitimate rights of Palestinians.

◆ National Assembly's Special Committee Hearing on Martial Law... President Yoon and Others Likely to Be Absent

The National Assembly's special committee on the investigation of the martial law declaration by the Yoon administration will hold its 3rd hearing on the 6th. The ruling party is expected to continue questioning President Yoon about the 'fraudulent election claims' he sought to verify during the 12·3 martial law, while the opposition party is likely to delve into the pre-martial law planning by key personnel, including the provision of secure phones and the establishment of emergency legislative bodies. The special committee previously adopted 25 individuals, including President Yoon, Prime Minister Han Deok-soo, Acting President and Deputy Prime Minister for Economic Affairs Choi Sang-mok, former Defense Minister Kim Yong-hyun, and former Counterintelligence Commander Yeo In-hyung, as witnesses. However, President Yoon, former Minister Kim, Acting Chief of Presidential Security Kim Seong-hoon, former Commander Yeo, former Intelligence Commander Moon Sang-ho, and former Special Warfare Commander Gwak Jong-geun, among others, have submitted reasons for non-attendance. The special committee plans to discuss measures such as filing complaints against witnesses who fail to attend or refuse to comply with orders to accompany them.

◆ Sweden's Worst Shooter, a Reclusive Unemployed Man... Motive Unknown

Sweden is in shock after the deadliest shooting in its history resulted in numerous casualties. According to Reuters and AP, police reported that 11 people, including the perpetrator, were killed and at least 5 were seriously injured in a shooting at an adult education center in the Örebro region on the previous day. The perpetrator, a 35-year-old Swedish national, had no criminal record and was not under police surveillance. Police suspect the shooter acted alone and had no ties to gang organizations, a social issue in Sweden. The motive remains unknown. The shooter had not filed income taxes since 2014 and lived in a studio apartment in downtown Örebro, according to police sources and tax records cited by Reuters. Local daily Aftonbladet, based on interviews with the shooter's relatives, described him as a 'recluse' who had little contact with his family for years. The newspaper also reported that he hid a hunting rifle in a guitar-shaped case, entered the education center, changed clothes in a restroom, and then opened fire. The shooter fired at police officers when they first arrived at the scene but was later found dead, presumed to have shot himself.

◆ Google Launches 'Cost-Effective' AI Model Flashlight Targeting China's DeepSeek

Google launched an AI model targeting Chinese AI startup DeepSeek on the 5th (local time). Google announced that it is releasing its latest AI model lineup, 'Gemini 2.0' (hereafter 2.0), to all users. '2.0,' unveiled last December, had been available only to select developers and test program participants. The newly released '2.0' lineup includes 2.0 Flash, optimized for large-scale repetitive tasks, 2.0 Pro Experimental, focused on coding performance, and 2.0 Flash-Lite. 2.0 Flash is integrated into the Gemini app and available to everyone, while the other two models are offered in preview form through 'Google AI Studio,' an AI tool for developers, and 'Vertex AI,' a platform for enterprises. Google previously emphasized that '2.0' boasts the best performance among AI models introduced so far, featuring multimodal capabilities for text, images, and videos, and optimized for the AI agent era. The 'Flash' model is a lightweight version of the Pro model among the Gemini lineup, categorized by parameter size into Ultra, Pro, and Nano. It was first introduced with version 1.5 last year. Google particularly highlighted 2.0 Flash-Lite as a lighter version of Flash, describing it as "the most cost-effective model." This move is seen as targeting DeepSeek's AI models, such as V3 and R1.

◆ Snow Expected in Most Areas from Afternoon... Cold Wave Below -10°C Continues

On Thursday the 6th, a cold wave will continue across most regions, with snow expected in various areas. According to the Korea Meteorological Administration, snow is expected in the southern coastal areas of Chungnam, the western coast of Jeonbuk, and the western part of Jeonnam until the morning. From the afternoon, snow is expected in the metropolitan area, inland and mountainous areas of Gangwon, Chungcheong region, inland areas of Gyeongbuk, and from the night in Jeolla region and northwestern inland of Gyeongnam. Rain or snow is expected in Jeju Island from the afternoon. The expected snowfall until the morning of the 6th is 3-8 cm in the mountainous areas of Jeju Island, 1-5 cm in the mid-mountain areas of Jeju Island, and less than 1 cm on the coast of Jeju Island. The expected precipitation is around 5 mm in Jeju Island, the western coast of Jeonbuk, Gwangju, the western part of Jeonnam, Ulleungdo, and Dokdo. The morning low temperatures will range from -17°C to -4°C, and the daytime high temperatures will range from -2°C to 5°C. The temperatures will remain 3-10°C lower than the average (low -11~0°C, high 2~9°C) for the time being. A cold wave warning is in effect for the central region, inland areas of Jeonbuk, and inland areas of Gyeongsang region, with morning temperatures expected to be below -10°C and daytime temperatures below 0°C in most areas. The fine dust concentration is expected to be 'good' to 'moderate' across all regions due to smooth atmospheric diffusion.

Eunji Cha, Hankyung.com Reporter chachacha@hankyung.com