Korea 24 - 2021.10.29


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Korea24 – 2021.10.29. (Friday)
News Briefing: The government will enforce the first phase of a gradual transition into a new ‘living with COVID-19’ system from next week, easing curbs on private gatherings and quarantine measures. Starting on Monday, up to ten people can gather for private meetings in the Seoul metro region, and up to 12 in non-capital areas. A COVID-19 vaccine pass system will be adopted for virus-prone entertainment facilities and indoor gyms. (Koo Hee-jin)
In-Depth News Analysis (Weekly Economy Review): The South Korean government has proposed a record high budget of 604.4 trillion won for next year. President Moon Jae-in said expansionary policies are inevitable as the nation seeks to overcome the COVID-19 crisis. Meanwhile, the Bank of Korea revealed that South Korea’s economy was estimated to have grown 0.3 percent in the third quarter, casting doubt on whether Korea can achieve the forecasted 4 percent growth this year. And according to data by the BOK, 4 out of 10 companies were not able to pay interest on their loans with operating profits last year. Professor Yang Jun-sok from the Catholic University of Korea provides his analysis on these topics.
Korea Trending with Walter Lee:
1. The Cultural Heritage Administration (CHA) has put off a decision on apartments that it says are being built illegally near the Gimpo Jangneung Royal Tomb, a UNESCO World Heritage site. (김포 장릉 문화재위원회 심의 결과 '보류')
2. South Korea has named Cesar Hernandez Gonzalez, as the head coach for the women’s national volleyball team, after Stefano Lavarini turned down a contract extension. (라바리니 보좌하던 세자르 코치, 여자배구 대표팀 지휘봉)
3. The social networking giant Facebook has rebranded itself as Meta, with ambitions to become known as a “metaverse company” (저커버그 페이스북 CEO "메타버스에 집중…사명 '메타'로 변경")
Movie Spotlight: Films by two very prolific, veteran directors are up for review this week. First up is Sir Ridley Scott’s ‘The Last Duel’ (라스트 듀얼). Set in 14th century France, it is reportedly based on a real event; the last officially sanctioned duel to the death in France over a rape charge. Meanwhile, auteur Hong Sang-soo returns with his 26th feature, ‘In Front of Your Face’ (당신 얼굴 앞에서). It tells the story of a former actress, who has been living in the US, returning to Korea to reconnect with her sister. Jason Bechervaise and Darcy Paquet join us to provide their reviews.
Next Week From Seoul with Mark Wilson-Choi:
- South Korea will begin reducing the number of COVID-19 vaccination centers next week, as much of the population has now been vaccinated.
- President Moon Jae-in will continue his tour of Europe, attending the COP26 climate summit in Scotland from Monday, followed by a state visit to Hungary from Tuesday.
- On Friday, the main opposition People Power Party will announce their Presidential candidate.

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