Analysis on hot-button economic issues at home and abroad
- 5 years ago
당정청 추경 합의, 주 52시간 본격시행. 효과와 보완점은?
Big announcements were made on South Korea's economic front.
The ruling party, government and the presidential office have agreed on a supplementary budget which will be submitted to the parliament within this month... while a 52-hour maximum workweek system came into force as of Monday, April 1st.
Today we look into the hopes and concerns of these two developments,... as well as other hot economic issues at home and abroad.
For that, we're joined by Professor of Pan-Pacific Int'l Studies Shin Sang-hyup at Kyung Hee University.
It's always good to have you with us.
1. The South Korean government is set to draw up a supplementary budget in April. Recently the IMF also suggested South Korea come up with an extra budget to support its growth. The exact amount is yet to be finalized, but do you agree on the need for a supplementary budget?
---The recommended amount?
2. The core focus is tackling the country's worsening fine-dust pollution. But a big chunk of the supplementary budget is expected to be used to revitalize the nation's sluggish exports and investments. Do you think an injection of extra money would be of big help in boosting exports and investments?
3. Staying with exports, South Korea's exports fell 8% in March compared to the same month, last year, showing a decline for 4 consecutive months. The main reasons cited are slumping semiconductor prices and slowing Chinese economy. How do you evaluate our nation's current exports?
4. 52-hour maximum workweek system went into effect as of April 1st. How do you assess the effects of it so far, and what are some of the remaining problems that need to be addressed to achieve a soft landing of the system?
5. The operating profit of South Korea's top companies, including Samsung Electronics, will be announced this week. The first quarter operating profits of listed firms are expected to shrink by one-third on-year. What are some of the reasons behind the slump?
---Possible effects on the nation's economy?
6. Moving now to the international stage, Brexit. With just 11 days to go until Britain is scheduled to leave the European Union,... Britain's parliament rejected, for the fourth time, all indicative motions as alternatives to Theresa May's Brexit deal. How do you see this worrisome development?
7. The EU is reportedly preparing for a no-deal brexit. How would a no-deal brexit effect the South Korean economy and what kind of countermeasures does Seoul need to adopt to avert worst-case scenario?
8. Now to U.S.-China trade talks, another major factor that effects the global economy. According to recent reports, optimism is prevailing in general. The U.S. says it held constructive talks with China, and that some progress has been made between the two. Talks will continue this week but how do you assess the results so far, and what could be some of the remaining game-changers?
--- Is it safe to carry on the optimism?
Big announcements were made on South Korea's economic front.
The ruling party, government and the presidential office have agreed on a supplementary budget which will be submitted to the parliament within this month... while a 52-hour maximum workweek system came into force as of Monday, April 1st.
Today we look into the hopes and concerns of these two developments,... as well as other hot economic issues at home and abroad.
For that, we're joined by Professor of Pan-Pacific Int'l Studies Shin Sang-hyup at Kyung Hee University.
It's always good to have you with us.
1. The South Korean government is set to draw up a supplementary budget in April. Recently the IMF also suggested South Korea come up with an extra budget to support its growth. The exact amount is yet to be finalized, but do you agree on the need for a supplementary budget?
---The recommended amount?
2. The core focus is tackling the country's worsening fine-dust pollution. But a big chunk of the supplementary budget is expected to be used to revitalize the nation's sluggish exports and investments. Do you think an injection of extra money would be of big help in boosting exports and investments?
3. Staying with exports, South Korea's exports fell 8% in March compared to the same month, last year, showing a decline for 4 consecutive months. The main reasons cited are slumping semiconductor prices and slowing Chinese economy. How do you evaluate our nation's current exports?
4. 52-hour maximum workweek system went into effect as of April 1st. How do you assess the effects of it so far, and what are some of the remaining problems that need to be addressed to achieve a soft landing of the system?
5. The operating profit of South Korea's top companies, including Samsung Electronics, will be announced this week. The first quarter operating profits of listed firms are expected to shrink by one-third on-year. What are some of the reasons behind the slump?
---Possible effects on the nation's economy?
6. Moving now to the international stage, Brexit. With just 11 days to go until Britain is scheduled to leave the European Union,... Britain's parliament rejected, for the fourth time, all indicative motions as alternatives to Theresa May's Brexit deal. How do you see this worrisome development?
7. The EU is reportedly preparing for a no-deal brexit. How would a no-deal brexit effect the South Korean economy and what kind of countermeasures does Seoul need to adopt to avert worst-case scenario?
8. Now to U.S.-China trade talks, another major factor that effects the global economy. According to recent reports, optimism is prevailing in general. The U.S. says it held constructive talks with China, and that some progress has been made between the two. Talks will continue this week but how do you assess the results so far, and what could be some of the remaining game-changers?
--- Is it safe to carry on the optimism?