Korea Daily News (October 7, 2024)

President Yoon Suk-yeol likened to a runaway train: Democratic Party lawmaker Park Yong compared President Yoon to a runaway train, expressing his intention to conclude his political drama with a happy ending.
DMZ OPEN Festival: A festival was held in Paju, Gyeonggi-do, from the 5th to the 6th, focusing on the ecology and peace of the DMZ. Various programs informed participants about the importance of ecology and peace. The event will continue until the 16th.
Legislative and Judiciary Committee National Assembly Audit: Ruling and opposition parties clashed during the National Assembly audit over the delay in the trial of Democratic Party leader Lee Jae-myung and the issue of reassigning the case. The ruling party criticized the delay and argued that the request for reassignment was unjust.
Yoon Suk-yeol government’s R&D budget cuts controversy: The government’s reduction in research and development (R&D) budgets, especially for high-tech industries and small and medium-sized enterprises (SMEs), has sparked controversy over its impact on innovation in these sectors.
Decrease in housing purchases: The government’s project to purchase basement homes has fallen short of expectations, with only 47 homes acquired over the past three years, leading to criticism.

Bank of Korea funds circulation statistics: The increase in housing purchases in the second quarter led to a 36 trillion won decrease in household savings. This raises concerns about the potential contraction in household consumption and economic activity.
Aftermath of R&D budget cuts: The government’s R&D budget cuts have had a significant impact on medium-sized and small businesses, exacerbating difficulties in technology development and hiring.
KOSPI rises: The KOSPI index rose by 1.58% to close at 2,610.38 points, driven by foreign and institutional investors’ buying.

Verona Festival Assistant Director Stefano Trespidi: Trespidi, the protégé of the late director Franco Zeffirelli, recreated his mentor’s production after 30 years. The festival paid tribute to Zeffirelli’s legacy, delivering a deeply moving performance to the Korean audience.
ADB presidency bid: Former Japanese Finance Secretary Kanda Masato announced his bid for ADB president, highlighting that China’s economy is four times larger than Japan’s and that India may also surpass Japan soon.
China tightens overseas travel restrictions: President Xi Jinping has implemented stricter controls on overseas travel for teachers and employees of state-owned enterprises to prevent exposure to anti-communist ideologies.
Vietnam’s Phu Quoc Island tourism: Known as the ‘Jeju Island of Vietnam,’ Phu Quoc Island remains a popular travel destination even during the rainy season, attracting visitors with its beauty and unique culture.

Innocean AI Alliance MOU signing: Innocean has partnered with 10 domestic and international companies that excel in AI technology. The companies signed an MOU at Innocean’s Seoul headquarters, agreeing to collaborate on AI projects.
SK Innovation stock price rise: SK Innovation’s stock rose by 1.58% to 118,500 won as foreign investors showed strong buying interest amid the rising KOSPI index on October 7.
Changes in the OTT market with Netflix: Netflix and Tving saw an increase in users in September, driven by content such as “Culinary Class Wars” and professional baseball. Meanwhile, Coupang Play and Wavve experienced a decrease in users.

Solo Leveling: Arise Championship: Netmarble held a gaming tournament in which 32 top-ranking players competed in the finals at Jamsil. The finalists fought fiercely in the championship round.
Kill the Crows Nintendo Switch release: Krafton’s indie game “Kill the Crows” has gained popularity for its exciting action and unique gameplay. It was newly released on the Nintendo Switch platform.
PUBG pop-up store ‘PUBG Seongsu’ event: Krafton hosted a special event at its pop-up store in Seongsu-dong, including the ‘WWCD Chicken & Beer Party.’ The store offers PUBG fans a unique experience, collaborating with various communities.

Donation of Han Geul Orthography Standardization Dictionary by late Jeong Chan-hwa: The family of the late Jeong Chan-hwa, a Hangeul scholar from Hadong, donated his dictionary, which standardized Korean orthography during Japanese colonial rule. The museum is preparing a 40th-anniversary commemorative exhibition.
Verona Festival and Stefano Trespidi: At the Verona Festival, Assistant Director Stefano Trespidi delivered a large-scale performance, recreating the works of the late Franco Zeffirelli and leaving a lasting impression.
2NE1 solo concert: 2NE1 held their first solo concert in 10 years, reuniting with fans. The group is touring nine cities, including Seoul, where they have garnered immense popularity from fans worldwide.

Hong Soo-ah wins tennis championship: Actress Hong Soo-ah became the first celebrity to win a nationwide tennis championship, making headlines.
Tekken 8 esports tournament performance: Korean players demonstrated their dominance in the Tekken 8 World Tour, proving their competitiveness on the global stage.

Carbon Neutral Green Walking Festival: A walking event promoting carbon neutrality and environmental protection is set to take place in Yeongwol, Gangwon-do. The event, co-hosted by the Yeongwol Green Festival Organizing Committee and Yeongwol DMO, will feature various programs aimed at creating a sustainable future.
Korean Air expands the use of domestic ingredients: Korean Air announced that the proportion of Korean agricultural products used in in-flight meals on international flights departing from Korea has risen to 64%, contributing to the promotion of domestic agricultural and seafood consumption.

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