Korea24 – 2022.10.14 (Friday)
News Briefing: North Korea conducted multiple provocations from Thursday night to the early hours of Friday, and claimed it was in response to South Korea’s artillery shots fired on Thursday. The South Korean defense ministry sent a notice to the North through a military hotline, urging it to abide by the 2018 agreement signed between the two Koreas to diffuse military tension. (Koo Heejin)
Weekly Economy Review: The Bank of Korea this week made another big step of raising its key interest rate by 50 basis points, to three percent. Meanwhile, the International Monetary Fund raised South Korea’s growth outlook for this year by 0.3%p from July’s estimate, to 2.6% but slashed its outlook for 2023. Also this week, it was announced that Samsung Electronics and SK Hynix would be given a one year exemption from the US' export curbs against China. Professor Yang Jun-suk from the Catholic University of Korea helps us digest the week's economic news.
Korea Trending with Walter Lee:
1. South Korea confirmed its first case of 'body packing'. The body packer was found to have died of acute ecstasy poisoning, caused by burst drug packets inside his body.(뱃속에서 마약 터진 남성 사망…국내 첫 ‘보디패커’ 확인 ‘충격’)
2. The man who spent 15 years in prison for raping eleven minors is facing release from prison, and it is being reported that he will be living at a rehabilitation facility under the Ministry of Justice. (미성년 11명 성폭행 김근식, 출소 뒤 경기도 갱생시설 거주)
3. Netflix plans to launch a cheaper, ad-supported plan in South Korea and eleven other countries next month. Users with this option will have to watch an average of 4-5 mins of ads per hour. (넷플릭스, 광고 기반 요금제 11월 출시…한국서 5500원)
Movie Spotlight: DAEMUGA(대무가), a comedy-drama about shamanism by debut director Lee Hanjong, is quite an unusual film about three shamans and a gangster. The film is divided into three parts, with each part centered around one of the shamans. Film critics Darcy Paquet and Jason Bechervaise also talk about some of the highlights of this year's Busan International Film Festival that is closing today.
Next Week from Seoul with Richard Larkin:
- Top military officers from South Korea, Japan, and the United States will hold trilateral talks in the U.S. next week.
- South Korean Foreign minister Park Jin will travel to Vietnam to celebrate the two countries’ 30th anniversary of diplomatic ties this year.
- From next week, patients who visit the emergency room can receive treatment without testing for COVID -19 first.