North Korea Military Shake-Up: North Korea dismissed Defense Minister No Kwang-chol and named Kim Song-gi as his replacement, while Pak Jong-chon was elevated in a broader leadership reshuffle under Kim Jong-un, alongside honors for defense tech advances. US-ROK Security Friction: A column weighs what could come from a Trump-Kim Jong-un meeting, as Seoul also faces uncertainty after Trump cut military exercises with South Korea amid a “good relationship” narrative. South Korea Budget & Economy: Seoul is set to unveil a record 800+ trillion won 2027 budget plan, with inflation expected to climb back above 3% and industrial data due soon. Finance Leadership Moves: Yonhap reports Vice Finance Minister Lee Hyoung-il was named finance minister in a cabinet reshuffle, while Finance Minister Koo Yun-cheol canceled a planned U.S. trip to attend the G20. Seoul Smart City Priorities: A poll finds residents want smart-city help most for traffic congestion, nighttime crime, and fine dust. Public Trust & Courts: A court backed overnight field training for military civilian employees, while separate reporting highlights police mishandling in a missing-person system scandal and formaldehyde checks show no formaldehyde in tested Chinese cabbage/kimchi. Markets & Regulation: Retail investors are backing away from leveraged chip ETFs as mock-trading rules tighten.