1. A director-general level meeting between South Korea and Japan was held at Seoul’s foreign ministry on Friday to discuss the details of a South Korean inspection into the wastewater from the Fukushima nuclear plant.

2. Korea Electric Power Corporation announced a 25 trillion won, or 18.8billion USD restructuring plan to restore its fiscal soundness. Meanwhile, Cheong Seung-il, the CEO of Kepco, offered to resign on the same day.

3. The International Monetary Fund said on Thursday that a U.S. debt default which was caused by the country’s failure to raise its borrowing limit could have very serious consequences for not only the U.S. but also the global economy.