A recent rapid rise in property prices will continue in 2021, despite government cooling efforts, owing to tight supply and … Japan-South Korea relations sharply deteriorated over South Korean Supreme Court rulings in 2018 that ordered Japanese companies to compensate groups of South Koreans for forced labor during Japan's 1910-1945 colonial rule. SEOUL (Reuters) - South Korea's prime minister assured there were no safety issues with AstraZeneca's coronavirus vaccine on Friday, as the government held final drills ahead of next week's scheduled rollout of the first vaccines. South Korea in talks with Moderna to build $200m vaccine factory Moderna aims to produce at least 600 million doses in 2021 and is working with partners to boost deliveries outside US. Home; Current Affairs; Current Affairs Quiz; General Knowledge (GK) Quiz; E-Books; Download App; Hindi ☰ South Korea Current Affairs, GK & News. Any construction of nuclear reactors in the DMZ or North Korea is … We expect house prices to maintain their upward trend, despite a series of government cooling measures. One is on South Korea’s east coast, with a power line heading north, and one is sited in the DMZ between the Koreas, while another is on North Korea’s east coast. On the demand side, property remains South Koreans’ favourite investment asset. South Korea has resumed most transportation options, (including airport operations and re-opening of borders) and business operations (including day cares and schools). "It is important for Korea to take responsibility for resolving issues between the two countries. The USDA’s rice production estimate remains unchanged at 3.5 million tonnes for the 2020 marketing year while demand increased 1.7% to 4.65 million tonnes. South Korea has experienced remarkable success in combining rapid economic growth with significant reductions in poverty. Authorities have confirmed that community-based transmission of COVID-19 is still occurring in Korea. The current COVID-19 pandemic, which is threatening the world, has brought about radical change not only in socio-economics, but also in science and technology. The unemployment rate in South Korea jumped to 5.4 percent in January of 2021 from 4.6 percent in the previous month and compared to 4.0 percent in the same month of the previous year. However, the recovery is likely to be uneven across sectors. Economic, Social Issues at Forefront for South Koreans . South Korea stressed, Tuesday, that Japan's wartime sex slavery issue must be addressed in a way that focuses on the victims, adding that Seoul will make efforts to restore their dignity. I am very honored to help host such an important event in South Korea. Seoul, South Korea. People wearing face masks walk through a market in Seoul, South Korea, Thursday, March 4, 2021. In its most recent January 2021 update of the World Economic Outlook, the IMF has revised its GDP growth projections for South Korea to 3.1% in 2021 and 2.9% in 2022 (representing a difference from October 2020 WEO projections of +0.2% and -0.2%, respectively). The government’s biggest weakness, however, will lie in foreign policy, especially its stance of rapprochement towards North Korea. All travelers to Korea should be aware that there is a mandatory 14-day quarantine upon entry, and as of January 8, 2021, travelers must provide proof of a negative COVID-19 PCR test result issued within 72 hours of their departure. Owing to these factors, we do not expect a sharp correction in the property market to take place in 2021. UAE starts operation of Arab world’s first nuclear power reactor. Pakistan and South Korea have agreed to hold bilateral policy consultation to strengthen cooperation between the two countries. The event is to be held in South Korea from 12-14 May. Foreign Minister Motegi also said, "There is no change in the position that the Japanese government will continue to strongly demand an appropriate response from the Korean side based on Japan's consistent position while maintaining communication between the diplomatic authorities in order to restore the relationship between the two countries to sound relations." At a regular press conference on the afternoon of the 2nd, Motegi asked for an evaluation of President Moon's March 1 commemoration, "The two countries are important neighbors, but by South Korea,'a worker from the former Korean peninsula' (conscription victim). Choi Sung-eun as Yoo Jae-yi. Korea isn't a particularly religious nation, with only 44% of the … Korea Religion, Economy and Politics. Ties were further strained after Japan strengthened controls on exports to South Korea in 2019. Korea: Business confidence improves but remains pessimistic in March. ... South Korea reports daily case record Published: 24 Dec 2020 . 5 Feb 2021 The first batch of 2021 for jobs fly to South Korea. However, on the whole, we believe that South Korean firms will be among the primary beneficiaries as the technology divide between the US and China widens in 2021. These workers left for South Korea after undergoing a PCR test 48 hours before. Income per capita increased from USD 100 in 1963 to more than USD 31,762 today (IMF, 2021). Other Chinese mobile device companies will take up some of the market share vacated by Huawei, but collateral reputational damage will create obstacles for them in expanding their presence in markets outside China. Mar 02 2021. With this, the theme … Rice imports for the 2020-21 marketing year … South Korea has experienced remarkable success in combining rapid economic growth with significant reductions in poverty. By Reuters, Wire Service Content Feb. 3, 2021. Shin Ha-kyun as … Seema Gurnani. The trigger for that could be a substantial increase in housing supply or sudden policy tightening by the authorities, amid concern about runaway home prices and household debt. 22 Aug 2020. South Korea has resumed most transportation options, (including airport operations and re-opening of borders) and business operations (including day cares and schools). U.S. citizens are reminded that a mandatory 14-day quarantine remains in effect for inbound travelers. Director of Asia Pacific Bureau, Ministry of Foreign Affairs 28th Visit to Korea Discussing "recruitment" issues? By Reuters, Wire Service Content Feb. 3, 2021, at 7:36 p.m. More. Korea Economic News. Feb 19, 2021 2:04 AM. In this piece, The Economist Intelligence Unit explores three key areas that need to be watched in the country during 2021. 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In 2021 demand in the property market will be underpinned by ultra-accommodative monetary policy. February 4, 2021 February 4, 2021 New applications are open for the Global paid internship program 2021 in South Korea. The Republic of Korea (South Korea) is a democracy that has appropriate protections in place for most political, civil, and socio-economic rights. GIST internships (Gwangju Institute of Science and Technology (GIST) are fully funded internships for all the students. Better ties will also provide a big opportunity for South Korean industries as their government has agreed to expand and modernize North Korea's crumbling infrastructure pending the settlement of major … current edition: US edition News Opinion Sport Culture ... February 2021. ", He added, "I want to solve the problem," he added, adding, "I think it is difficult to evaluate only by expressing the attitude of the Korean side (President Moon's speech in Section 3/1).". The MOLIT said the documents were simply part of an internal ministry study for potential inter-Korean energy cooperation. February 27, 2021. After a crushing defeat in the general election held in April 2020, the country’s conservative camp has regrouped under the interim leadership of Kim Chong‑in, a political veteran and former interim chairman of the ruling Minjoo Party, and adopted a new name—the People Power Party (PPP). About 100 South Koreans crossed the heavily armed border to meet their separated … Obviously, this is not an issue that is particular to South Korea. South Korean firms are well placed to benefit from the widening divide over technology between the US and China. Gwangju Institute of Science and Technology Scholarship previously famous for the Master’s ad Ph.D. programs . A recent rapid rise in property prices will continue in 2021, despite government cooling efforts, owing to tight supply and firm demand. New Discoveries and Advanced Approaches in Health Care Management System. The … A conservative revival will not dramatically alter the political dynamic, with the next presidential and parliamentary polls not due until 2022 and 2024 respectively. But in Busan, South Korea. Understand a country’s political, policy and economic outlook with the world’s best forward-looking analysis and data. Two factors will drive the anticipated growth in housing prices. Search. South Korea, U.S. agree on urgency of North Korea nuclear issue KYODO NEWS - Jan 27, 2021 - 14:00 | World , All South Korean Foreign Minister Kang Kyung Wha and new U.S. Secretary of State Antony Blinken agreed Wednesday that North Korea's nuclear issue is an urgent matter that needs to be dealt with by the administration of President Joe Biden, the South Korean Foreign Ministry said. The US ban on the supply to Huawei of semiconductors that use US chipmaking equipment, intellectual property or design software (unless a licence is obtained from the US government) will undermine that company’s production capacity in 2021 and diminish its share of the global market for consumer electronic devices. This exciting event is scheduled during April 19-21, 2021 at … 2 February 2021. Want to work with us? Main cast: Yeo Jin-goo as Han Joo-won. During his regime, from 1961 to 1979, South Korea achieved rapid economic growth, with per capita income rising to roughly 17 times the level of North Korea in 1979. South Korea held its first free presidential election under a revised democratic constitution in 1987, with former ROK Army general ROH Tae-woo winning a close race. Written by. Japanese Foreign Minister Toshimitsu Motegi repeatedly insisted on a resolution led by the South Korean government in relation to President Moon Jae-in's statement in his March 1st commemorative address that he is ready to talk at any time to resolve the pending issues between Korea and Japan. We believe that the impasse in denuclearisation talks and an increasing military threat from the North will expose the shortfalls of the government’s focus on inter-Korean diplomatic engagement and economic co‑operation. Any discord between the United States and South Korea could put at risk the security of both the Korean Peninsula and the broader region, especially as China and North Korea seek to gradually erode the United States’ system of alliances. Latest. Although the unemployment rate is very low … April 19-21, 2021 | Seoul, South Korea. The Ministry of Food and Drug Safety in South Korea has granted regulatory approval for Vyzulta, according to a press release from Bausch Health. Revolutionary Guards aboard armed speedboats seized the tanker … Clear this text input. February 24, 2021. Business confidence in the manufacturing sector came in at 85.0 in March, up from February's 81.0. Other improved conditions have been reported within South Korea. Read more. Theme. The first batch of workers of 2021 returning to South Korea for employment left for South Korea on the morning (21) on a special charter flight KE 9474. The intensifying trade and technology conflicts between the US and China—particularly widening US sanctions on Chinese technology companies—offer both risks and opportunities for South Korea Inc. SEOUL, SOUTH KOREA — South Korea’s rice production is forecast to remain unchanged while demand ticks up, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). Investment-related demand for property is compounded by sustained real housing demand in large urban areas, where people are attracted by better job opportunities. South Korea’s prime minister warned that universal basic income was “impossible” to implement, drawing a sharp contrast with other populist contenders for the … Conversely, US sanctions on Huawei will threaten the revenue of South Korean semiconductor manufacturers such as Samsung and SK Hynix, both of which have the Chinese company as a main client. In return, South Korea pledged speedy action to address Iran’s complaints about $7 billion impounded there as a result of U.S. sanctions. However, the South Korean chipmakers have already applied for the necessary licences to continue supplying chips to Huawei, and we believe that they will obtain them in 2021, especially if—as we forecast—the Democratic candidate, Joe Biden, wins the US presidential election in November. The company has already made moves with a US$6.6bn five-year deal concluded in September to provide 5G wireless solutions to Verizon, a US telecoms company. Travel Bans: Coronavirus Entry Restrictions for South Korea. Social strains generated by high house prices will provide fresh ammunition for the opposition to criticise the Minjoo administration led by the president, Moon Jae‑in. We expect the PPP to capitalise on the government’s mixed foreign policy record to close the gap in public support between itself and Minjoo. February 21, 2021. South Korea lobbies Qatar for aid in recovering tanker seized by Iran. U.S. citizens are reminded that a mandatory 14-day quarantine remains in effect for inbound travelers. South Korea. High house prices and increasingly strained inter-Korean relations will revive the political fortunes of the conservative opposition. Such adjustments will help it to move on from previous corruption scandals involving its senior figures. It was the highest unemployment rate since October of 1999, as the pandemic continued to weigh heavily. Article tags January 22, 2021. Japanese Foreign Minister Toshimitsu Motegi repeatedly insisted on a resolution led by the South Korean government in relation to President Moon Jae-in's statement in his March 1st commemorative address that he is ready to talk at any time to resolve the pending issues between Korea and Japan. Moreover, the loss of revenue tied to the current suspension of exports to Huawei will be offset in part by increasing sales to other clients (in China and elsewhere), which are likely to raise orders in an attempt to increase market share. Current estimates place the KPA at around 1.28 million troops, with 1.1 million ground forces, and a reserve estimated to be as large as 7.6 million, compared to South Korea’s 3.1 million reserves. SEOUL – South Korea has redeployed a destroyer from anti-piracy duties in the Gulf of Aden to the Straits of Hormuz after a Korea-flagged tanker was seized by seaborne units of Iran’s Revolutionary Guard on Monday. South Korea will experience an economic rebound in 2021, with the country’s campaign against the coronavirus (Covid-19), characterised by light-touch yet effective measures, translating into a relatively smooth normalisation of consumption and production. By Golnar Motevalli on 1/14/2021. 2021 in South Korea — Wikipedia article - the free encyclopedia The pandemic has raised new issues that need to be considered and to find new ways in securing research integrity and establishing a desirable research culture. Telecommunications and consumer electronics companies will gain global market share as their Chinese competitors face more restrictions. The USDA’s rice production estimate remains unchanged at 3.5 million tonnes for the 2020 marketing year while demand increased 1.7% to 4.65 million tonnes. Although the unemployment rate is very low … Find more about the access security market at SECON 2021. South Korean firms are well placed to benefit from the widening divide over technology between the US and China. The party has already made pragmatic shifts to align itself more tightly with public opinion, such as adopting a more tolerant attitude towards expansionary fiscal policy. The Republic of Korea (South Korea) is a democracy that has appropriate protections in place for most political, civil, and socio-economic rights. This will push the government to adopt a harder approach towards North Korea. I said. September 19, 2018 | Kenneth Best - UConn Communications. A land of culture and beauty, this is a country in East Asia, and the capital is Seoul. The South Korean Government’s release of the digital development plan indicates a strong will for fostering contactless industries, and the service voucher support project which started last October, is clear evidence of it. He Calls Himself ‘North Korea’s Poet Laureate.’. Riitta-Liisa Roponen, 42, made history at the World Championships! South Korea Comfort Women Issue “Countermeasures on Universal Human Rights Issues” UN Human Rights Council, Korean media: South Korea and Japan held a video conference of the foreign affairs directors failed to narrow their differences, “Japan refuses to respond to the Korea-China-Japan summit without a prerequisite for the'conscription issue'”, 文, Suga Kok picked up "nice to meet you"… Forced mobilization problem. Asia-Pacific Daily Briefing: Job Losses Escalate in South Korea Feb 10, 2021. According to the new regulatory framework expected to come into force in 2024, the NIS will no longer be able to deal with domestic policy issues such as North Korean subversion in South Korea … South Korea Visa For Indians: A 2021 Guide To Give You An Insight In The Details! South Korea holds mayoral elections in April for Seoul and Busan, two of the nation’s largest cities, and the results will set the tone for next year’s presidential vote. In 2021, the country’s most immediate challenge is related to the economic, social and public health impacts of the COVID-19 pandemic. We believe that it will also provide strong competition in the EU and Japanese telecoms markets. Despite stimulus packages, public finances have deteriorated in 2020. Thomson Reuters. However, it will force the government into some important adjustments; for example, it will prod the administration into increasing public expenditure beyond its proposed budget for 2021, in the form of a populist supplementary budget, in order to boost employment and facilitate the recovery of small and medium-sized enterprises. The British Book Awards announced shortlists for the 2021 Independent Bookshop of the Year Award, featuring 48 bookshops from nine regional/country categories.The regional winners will be named March 17, and advance to the Nibbies virtual ceremony … World. The low level of housing stock will not only help to sustain the persistent increase in prices for new properties, but will also add upward price pressure in the second-hand property market. Income per capita increased from USD 100 in 1963 to more than USD 31,762 today (IMF, 2021). 19-21, April 2021. In its most recent January 2021 update of the World Economic Outlook, the IMF has revised its GDP growth projections for South Korea to 3.1% in 2021 and 2.9% in 2022 (representing a difference from October 2020 WEO projections of +0.2% and -0.2%, respectively). By contrast, MTD estimated that a total of 134 million tires were shipped within the U.S. during 1983 at the replacement level. The Biden and Moon teams must therefore hold a series of frank and regular conversations, or else they will be headed for a bumpy ride. Best current affairs & GK article on South Korea ☰ Hello Guest ! Navigation. Download the full Asia-Pacific Daily Briefing South Korea’s unemployment rate climbed to its highest in two decades in January, surging by 0.9 percentage point over the month to 5.4%. Search. Public opinion on the issue will incline towards the conservatives, who have traditionally adopted a hardline approach. While the world’s eyes are on the peace process with North Korea, South Koreans are looking for greater economic stability, according to history professor Alexis Dudden. Washington and Seoul … Last week in South Korea, a surviving victim of sexual slavery during the Japanese colonial rule, known as ‘comfort women,’ demanded the Korean government bring the forced sexual slavery issue to the ICJ (The Korea Times, 16 February 2021). On the supply side, the housing stock is near a historical low. (Photo = Japanese Ministry of Foreign Affairs' Twitter broadcast screen capture, Yonhap News), The Japanese government repeats its existing position... "Look for specific suggestions", Japan-Korea Ministry of Foreign Affairs Directors Talk on Issues Concerning "Recruitment", South Korea and Japan held a ministerial-level meeting of the Ministry of Foreign Affairs without narrowing differences on workers' compensation issues, Asahi "Suga, you must attend the Korea-China-Japan summit without prerequisites". As of July 2020, the U.S. policy toward North Korea remained a demand for “complete, verifiable, irreversible denuclearization of the Korean Peninsula.” 14 However, at the 75th UN General Assembly meeting in September 2020, while South Korean President Moon Jae-in reissued calls for ending the Korean conflict, 15 Trump – for the first time in three years – omitted North Korea from his … Concerns over strategic infrastructure security and data privacy have led governments in many countries, including the US, the UK, Japan and Australia, to restrict or ban the use of equipment manufactured by Huawei (China) in local 5G mobile networks, with more countries contemplating similar restrictions. South Korea’s current account surplus widened to $11.51 billion in December of 2020 from $4.33 billion in the same month of the previous year. By Choe Sang-Hun and Farnaz Fassihi Direct flights between South Korea and the United Kingdom are suspended until 11th February 2021. The resilient performance of the electronics industry will underpin the recovery in South Korea’s economy in 2021; in our next country report we will forecast growth of 2.9% in that year. Samsung, which is the world’s largest smartphone producer and also manages a rapidly expanding 5G equipment business, will lead this quest for new business. Korea: Consumer confidence picks up but remains in negative territory in February. Beyond Evil. Photo: AFP / Yonhap . Other improved conditions have been reported within South Korea. Fargo, ND, USA / The Mighty 790 KFGO | KFGO. 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If the current process of reconciliation between the 2 Koreas continues, better ties will likely lead to extensive production of South Korean goods-for-export in North Korea, where labor costs are much lower. People wearing face masks walk through a market in Seoul, South Korea, Thursday, March 4, 2021. They had a broad exchange of views on … Brochure . However, the combination of rising property prices, growing household indebtedness tied to the property market and an anticipated increase in non-performing loans in the banking sector will lead to higher systemic risks in the financial system, creating the conditions for a subsequent sharper correction. August 1, 2020. SEOUL, SOUTH KOREA — South Korea’s rice production is forecast to remain unchanged while demand ticks up, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). (According to the 2021 MTD Facts Issue, which you can view here, South Korea exported 13.6 million passenger tire units to these shores in 2020, a 21% decrease from 2019 numbers.) She urged the Japanese government to officially apologize and provide lawful compensation, as provided for by the Seoul Central District Court’s recent … Overview of holidays and many observances in South Korea during the year 2021 Thu, 15th Oct 2020. Find out more about The EIU’s Country Analysis service. Our Country Analysis service looks at global dynamics that impact your organisation, helping you to operate effectively and plan for the future. Century 21, the discount department store with Brooklyn and New York roots, is relaunching less than a year after filing for bankruptcy. Current estimates place the KPA at around 1.28 million troops, with 1.1 million ground forces, and a reserve estimated to be as large as 7.6 million, compared to South Korea… The EIU was created in 1946 specifically to address the issues that readers of The Economist were asking. Overseas observers are criticising the South Korean parliament’s passage of a bill revising the Development of Inter-Korean Relations Act on 14 December 2020. Apartments in prime districts of big cities are especially popular, owing to their limited supply and high liquidity. South Korea’s main conservative opposition party will accelerate its political revamp in 2021. South Korea makes up for most of the South of the Korean peninsula region. January 18, 2021 February 20, 2021 Good News for you, Applications for GIST Scholarships in South Korea 2021 for the bachelor’s program are open now. Despite stimulus packages, public finances have deteriorated in 2020. Indeed, common sense argues that the plans are highly provisional. South Korea's President Moon Jae-in said on Monday that the Tokyo Olympics could provide a chance to reopen talks between North Korea and the United States, North Korea and Japan, and the two Koreas. In 2021, the country’s most immediate challenge is related to the economic, social and public health impacts of the COVID-19 pandemic. Find out the latest opportunities available at The Economist Group. Our work is guided by our principles of independence, world-class insights and rigorous analysis of the world around us. Hankuk Chemi tanker. Two Women Call Him a Rapist. Domestically, the property market will continue to attract public attention and policy focus in 2021. The restructuring of South Korea's economy and the growing presence of foreign investors and enterprises in the previously protected South Korean market will impose bankruptcies and mergers on weak and small firms to make the larger firms strong enough to withstand foreign competition. This new law aims to permanently prohibit the launching of ‘propaganda balloons’ towards North Korea, which some argue infringes on freedom of speech and … We monitor the world to help you prepare for what’s ahead. The footage was shown at tanker owner DM Shipping's offices in Busan on January 4, 2021. We believe that South Korean companies stand out as ready to gain share in the global telecoms and consumer electronic devices market as their Chinese competitors are forced to retreat. Research. International promises on the issue and the comfort women issue have been broken.”, He argued, "This is why the bilateral agreement has not been implemented, and the relationship between the two countries is in an unprecedented severe situation," he said. South Korea's central bank says the country's economy shrank for the first time in … About Conference. In addition, Moon Jae‑in’s administration will toughen its approach towards North Korea, working alongside the US government to increase pressure on the regime to return to the negotiating table, while stepping up efforts to strengthen South Korea’s defence capabilities. Submit Abstract Register Now. Telecommunications and consumer electronics companies will gain global market share as their Chinese competitors face more restrictions. Author: Kevin Gray, University of Sussex . With this, the theme of the 2021 Seoul APRI Network Conference is “Current Issues and Tasks … Systemic risks tied to the sector are building in the financial system, increasing the economic impact of an eventual correction. The United Arab Emirates has launched operations at the … These include a price cap on new apartments in certain districts in the capital, Seoul (where the income-to-house price ratio reached 12.1 in 2019, according to data from the National Assembly Research Service), and higher rates of capital gains tax for owners of multiple properties. The understanding was reached at a meeting between South Korean Vice Minister of Foreign Affairs, Choi Jong Kun and Pakistan Ambassador to South Korea, Mumtaz Zahra Baloch in Seoul. SoftBank-backed Coupang aims to deliver mammoth U.S. IPO at over $50-billion valuation . Scientific Federation will be hosting 7 th World Congress on Public Health and Health Care Management in 2021.