* Date : 2016-12-03
An Emergency Assessment of China's Hallyu Ban
On November 19th, word began to spread online and on social media in China that the largest-ever scale ban on Korean content was coming. Internet sources in China began to cover the news, in connection with the deployment of the THAAD missile defense battery in korea. When it became known that actor Song Joong-ki was replaced by a Taiwanese actor in a major Chinese smartphone commercial, concerns raised in August over a ban on Hally content re-emerged.
However, Chinese authorities have denied any knowledge of a Hallyu ban. We take a look at the reality of the situation, and what the response measures might entail.
Korea's Seed Industry Goes Global
With global climate anomalies continuing, food is becoming a limited resource around the world. Countries are now engaged in a silent war for seeds. In order to cultivate Cheongyang chili pepper in Korea, farmers have to pay royalty to a foreign company. This is because the local seed company that developed the seed was acquired by a foreign company during the Asian financial crisis. 1 gram of paprika seed costs 3 times the prices of gold. Seeds have become a higher value added product than even gold. According to the Rural Development Administration, the total amount of royalties paid for seeds will reach US$ 670 Mil. in 2020. This is why the government has launched the Golden Seed Project, which aims to achieve seed autonomy and develop seed exports by 2021. We hear from those working in the forefront of the rebirth of the Korean seed industry, to learn more about its current situation and future goals.
Despite the prolonged economic downturn, the pet industry is enjoying a boom with high growth rates. 1 in 5 households in Korea has a pet. Pet-Fam types, who think of pets as family, are on the rise, and related products and services are diversifying as a result. We take a look at how the pet industry is securing a foothold as a new axis of economic growth.
With financial scams such as voice phishing becoming more sophisticated, and temptation from non-bank financial institutions increasing, the financial environment is becoming more complex, requiring better public understanding of finance.
However, financial illiteracy was shown to be still quite high within societies around the world, which experts have attributed to the lack of education on finance.
In Korea, a wide range of financial education programs are now being carried out by financial institutions. As we live through a time of low growth and low interest rates, let's find out about the current situation in financial literacy and the specific actions being taken to educate the public.