Seoul, April 15 (IANS) The Korean won has remained relatively weak in recent months, but the country has sufficient dollar liquidity to respond to external shocks, Shin Hyun-song, nominee for the head of South Korea’s central bank, said on Wednesday.Shin made the remarks during a confirmation hearing at the National Assembly in Seoul, as he has been tapped to replace outgoing Bank of Korea (BOK) Gov. Rhee Chang-yong, reports Yonhap news agency.”It is not appropriate to comment on the specific le…
Latest National Assembly News & Updates
Seoul, April 11 (IANS) Cash assistance for the bottom 70 per cent of income earners will begin being rolled out later this month, the government announced on Saturday, as part of efforts to ease the financial strain caused by rising oil prices.The aid will first reach the most vulnerable within that income bracket starting April 27 and expand to the broader eligible group May 18, reports Yonhap news agency.Approximately 32.5 million people are eligible for the aid, with payments ranging from 100…
Seoul, April 11 (IANS) Cash assistance for the bottom 70 per cent of income earners in South Korea will begin being rolled out later this month, the government announced Saturday, as part of efforts to ease the financial strain caused by rising oil prices.The aid will first reach the most vulnerable within that income bracket starting April 27 and expand to the broader eligible group May 18.Approximately 32.5 million people are eligible for the aid, with payments ranging from 100,000 won ($67.30…
Seoul, April 10 (IANS) The South Korea’s National Assembly is set to handle an extra budget bill Friday aimed at coping with the economic fallout from the ongoing war in the Middle East.The extra budget, intended to ease the burden of rising oil prices and protect small businesses and vulnerable households from the economic repercussions of the conflict, has expanded to around 30 trillion won ($20.3 billion) from the government’s initial proposal of 26.2 trillion won, following reviews by standi…
New Delhi, April 7 (IANS) Prime Minister Narendra Modi on Tuesday congratulated To Lam on his election as Vietnam’s President and expressed readiness to work with him to further deepen the Comprehensive Strategic Partnership between the two nations. He expressed confidence that the time-tested friendship between the two nations will continue to grow under To Lam’s leadership.”Heartiest congratulations to Mr To Lam on his election as President of the Socialist Republic of Vietnam. I am confident …
Seoul, April 6 (IANS) South Korea’s Cabinet approved a motion Monday to amend some texts in the Constitution, setting the stage for the National Assembly to vote on the proposed amendment, and, if passed by lawmakers, the amendment will be put to a national referendum.The move comes after 187 lawmakers from the ruling Democratic Party and five minor parties jointly proposed the bill on Friday to tighten the requirements for declaring martial law and incorporate the spirit of past pro-democracy m…
Seoul, April 4 (IANS) Thousands of people took to the streets in central Seoul on Saturday, commemorating or opposing the ouster of former South Korean President Yoon Suk Yeol, who was convicted of insurrection, on the first anniversary of his removal from office. Nearly 1,000 people gathered in front of the Constitutional Court in central Seoul, holding pickets reading “End insurrection, treason” and calling for “grand social reform.”The rally came on the first anniversary of the Constitutional…
Seoul, March 31 (IANS) The Ministry of Trade, Industry and Resources said on Tuesday it has allocated 924.1 billion won ($609 million) in a supplementary budget to respond to the Mideast crisis amid disruptions in energy and industrial supply chains.The announcement came after the Cabinet, chaired by President Lee Jae Myung, approved a government bill for a 26.2 trillion-won supplementary budget aimed at tackling difficulties stemming from the escalating conflict in the Middle East and revamping…
Seoul, March 31 (IANS) South Korean President Lee Jae Myung on Tuesday instructed senior officials to take bold measures to address concerns over the energy situation caused by the war in the Middle East, saying the government may issue an emergency economic decree if necessary.”South Korea, which is highly dependent on external markets and relies heavily on energy supplies from the Middle East, requires more thorough inspections and detailed emergency measures,” Lee said during a Cabinet meetin…
Phnom Penh, March 30 (IANS) The National Assembly of Cambodia on Monday passed a draft law on combating online scams, which will deliver up to 30 years or life imprisonment to scam bosses.A total of 112 lawmakers in attendance unanimously approved the draft bill.According to the bill, online scam bosses will face between 15 and 30 years or life imprisonment if their operations lead to one or many deaths.Ringleaders of online scam centres will face between five and 10 years in prison and a fine o…