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Debate re-emerges on pardoning ex-presidents, Samsung chief

By Nam Hyun-woo
Debate is being reignited over pardoning two imprisoned former presidents and Samsung Electronics Vice Chairman Lee Jae-yong, following increasing calls by opposition lawmakers and businesses asking President Moon Jae-in to exercise leniency and send a message of unity to a divided public.
Cheong Wa Dae and the government say they are not considering a presidential pardon at the moment, but speculation is mounting, because such a move could be an effective way for Moon and the ruling Democratic Party of Korea (DPK) to recover lost support.
The debate on pardoning former presidents Lee Myung-bak and Park Geun-hye resurfaced after President Moon named former lawmaker Kim Boo-kyum as new prime minister last week. ....

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South Korea's economy shrinks 1% in 2020

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Park Yang-su, head of the economics statistics department at the Bank of Korea explains a graph of South Korea s GDP growth in a press briefing on Tuesday. Bank of Korea
South Korea’s economy shrinks 1% in 2020
Wed, 27 January 2021
South Korea’s economy shrank one per cent last year from 2019, due to blows dealt by the Covid-19 pandemic, marking its first contraction since it was hit by the devastating 1997 Asian financial crisis more than two decades ago, the central bank said on January 26.
The contraction in the country’s gross domestic product (GDP) was slightly better than the Bank of Korea’s (BOK) earlier projection of minus 1.1 per cent in November, its advanced data showed. Yet, it was one of its worst performances since a 5.1 per cent contraction in 1998. ....

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S. Korea to roll out third round of 'disaster relief funds' worth US$ 8.5 bil. from JanuaryNews

South Korea on Tuesday announced it will offer another round of disaster relief funds to support various businesses and workers across the country.
Under the latest plan, around five trillion Korean Won, or roughly 5 billion U.S. dollars, will be spent on emergency handouts and low-interest loans to support small business owners deemed to be hardest hit by the pandemic.
Up to three million Korean Won will be given to the businesses which had to temporarily close or restrict their hours of operation due to strict social distancing guidelines.
Also, at-risk workers, such as freelancers, delivery drivers, insurance planners and childcare workers, will receive cash payments worth around 500-thousand to one-million won. ....

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