The dark underbelly of globalized markets permeating Korea is epitomized by the sweet delicious grip Krispy Kreme has on Korea’s youth. Go to any Costco or E-mart in Seoul and we see oversized carts filled to the brim with pastries, cheeses, and packaged American goods once considered ‘foreigner foods’ but now a daily staple on kitchen tables.

Newsmen don’t often use these words simultaneously: panic, spiral, ignominious, and chaotic. But they were fit for the New York Times to print today as it detailed the harrowing fall of the U.S. stock market which occurred over the last 12-24 hours.

Hagwons may soon be required to post their tuition fees online in order to prevent overcharging, says this morning’s Korea Times. The short blurb describes efforts by the Ministry of Education, Science, and Technology to pass through hagwon law revisions at the National Assembly effective next year.

Marmot’s Hole had the scoop this morning on today’s Korea Times piece about changing visa requirements for gyopos, or overseas Koreans, to include medical and criminal background screening. Currently, only E-2 visa applicants receive checks prior to gaining admittance as English instructors.

I was just a kid on September 29, 1982 when a serial killer contaminated a bottle of Tylenol with cyanide, poisoning seven fatally and causing nationwide panic. Practically every child in America was afraid of having a headache or taking Tylenol for a fever. Authorities reacted swiftly, banning all gel-caps from being sold and passing new laws on tamper resistant products. Food and drug manufacturers for their part did their best to ensure that no poison could ever reach their products by sealing foods in tighter-than-ever packaging.

By the looks of it, there’s plenty of fake Vuitton, Rolex, Viagra, and yellow pills (anti malaria?). Sounds like the police stopped quite a party from happening in Itaewon this weekend.

Look inside and join our discussion on fake bags and dangerous pills.

Thanks to the Marmot’s Hole for this week’s North Korea compilation. First, in the Boston Globe, a stunning, rare look into North Korea, by photojournalists working for Yonhap and REUTERS.

This also brings us to the question whether some day soon, in light of Kim Jong Il’s stroke (reported here in MSNBC) the North will open up or close even further in the event of his death. Here is an interesting article about Kim Jong Il, featured in this month’s Atlantic Monthly about what might be coming next.