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November 24, 2022 Yonhap News Briefing-1

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▲ The Bank of Korea raised the benchmark interest rate by 25 basis points to 3.25%

The Financial and Monetary Committee of the Bank of Korea (the central bank) met on the morning of the 24th and decided to raise the benchmark interest rate by 25 basis points to 3.25%. As a result, the central bank raised the benchmark interest rate 9 times in 1 year and 3 months, including 7 times by 25 basis points and 2 times by 50 basis points, for a total of 275 basis points. It is reported that the central bank raised interest rates again this time mainly because the upward trend in prices has not weakened significantly.

▲Kim Yo Jong made a statement condemning South Korea for discussing unilateral sanctions against North Korea

Kim Yo Jong, the sister of North Korean Chairman Kim Jong Un and vice minister of the Central Committee of the Workers' Party, made a statement through the Korean Central News Agency on the 24th, strongly condemning South Korea for following the United States to promote unilateral sanctions against North Korea, and insulting South Korean President Yoon Suk-yue as an idiot and fool. In this regard, there are opinions that North Korea not only shifted the responsibility for the rising tension on the Korean Peninsula to South Korea, but also stimulated South Korean public opinion and instigated anti-regime struggles. Analysis pointed out that this means that North Korea regards South Korea as a direct target of attack after the establishment of the Yin Xiyue government.

▲Minister Han attended the ASEAN Defense Ministers Plus Meeting and called on the Communist Party to urge North Korea to denuclearize

South Korea's Ministry of National Defense stated on the 24th that Defense Minister Lee Jong-seop, who is attending the 9th ASEAN Defense Ministers Meeting Plus (ADMM-Plus) in Cambodia, introduced the Korean version of the Indo-Pacific strategy and the policy direction of the Ministry of Defense to maintain peace and stability in the Asia-Pacific region on the 23rd. , and called on all parties to work together to urge North Korea to denuclearize. According to the Ministry of National Defense, representatives of the United States, Japan, Australia, New Zealand, the Philippines and other countries condemned that North Korea's launch of ballistic missiles flagrantly violated relevant UN Security Council resolutions and was a positive challenge to the international security situation.

▲ South Korea implements new rules for restricting disposable products to ban plastic in various stores

South Korea has implemented new regulations on the restriction of disposable items in various stores, restaurants, and service facilities since the 24th, and the number of prohibited and restricted items has increased compared with before. Various retail outlets and pastry shops such as convenience stores are prohibited from providing and selling disposable plastic bags and shopping bags; catering outlets and group meal units will not be allowed to use paper cups, plastic straws, stirring rods, but paper, glass, stainless steel, etc. Straws and stirring rods; large stores such as department stores are completely banned from drip-proof disposable plastic umbrella covers, etc. Those who violate the above regulations will be fined less than 3 million won (approximately RMB 16,000), but the government has set a one-year transition period for the implementation of the new regulations, during which no fines will be imposed. (Finish)

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