WEEKLY NEWS HIGHLIGHTS (2023.12.23)
(THIS IS THE TRANSCRIPT FOR ARIRANG NEWS THAT AIRED ON 22 Dec 2023 - 00:00 KST.) Welcome to the weekly news highlights. I'm Shin Ye-eun here to recap the top stories at Arirang this week. North Korea launched its fifth intercontinental ballistic missile of this year. Its state media claims the launch showed what option Kim Jong-un would take if Washington makes a wrong decision as the missile seemingly has the potential to reach U.S. mainland. In response, Seoul, Washington and Tokyo activated their missile warning data-sharing system. The three nations also agreed upon a multi-year exercise plan, starting next year, for regular military drills. The National Assembly has finalized next year's national budget. The bill was passed more than 2 weeks after its scheduled deadline. The final package came down to 5-hundred and 3 billion U.S. dollars, which was down by more than 2-hundred 30 million dollars from the government's initial proposal submitted in September. This is the second year the budget was decreased by the parliament. South Korea's Supreme Court, yet again, upheld two lower court rulings that ordered Japanese firms to compensate Koreans forced into wartime labor, --some 10 years after the suits were filed. South Korea is bolstering cooperation with its key allies, the U.S. and Japan as North Korea launched its fifth ICBM this year. The three countries have since decided to activate a data sharing system where they would warn each other about North Korea's ongoing missile threats. Sharing data on this matter had been limited to only during exercises, but now warning information can be shared around the clock. The three nations also agreed upon a multi-year exercise plan starting next year. Our defense correspondent Choi Min-jung with the story. President Yoon Suk-Yeol sent a message in regards to North Korea's latest ICBM launch. In a Cabinet Meeting on Tuesday, Yoon warned that Pyongyang's provocations would only inflict more pain on the regime itself. Our presidential office correspondent Kim Do-yeon tells us more. Foreign ministers representing the Group of Seven also condemned North Korea's quote "repeated reckless actions" and called for a prompt and powerful global response led by the UN Security Council. Despite these calls, the Council's meeting on Tuesday came to a close with no consensus amid opposition from China and Russia. Shin Se-byuk reports. Amid flared geopolitical tensions, President Yoon has nominated a new foreign minister named Cho Tae-yul. Since his nomination earlier this week, Cho has highlighted the importance of Seoul's ties with both Washington and Beijing. Cho shared his commitment to seeking ways to promote a peaceful and productive partnership with China. He further pledged to pursue appropriate diplomatic policies keeping in mind the current geopolitical standoff between Seoul Tokyo and Washington on one side and Beijing Pyongyang and Moscow on the other. As part of efforts to bolster bilateral cooperation Seoul and Beijing are looking to activate a hotline to better manage matters related to supply chains. According to South Korea's Industry Ministry, working-level talks to this end were held here in Seoul. Among the issues addressed were those related to supplies of urea as China recently suspended its exports of this compound which is used to reduce carbon emissions in diesel vehicles like trucks. Title: National Assembly approves national budget for 2024 The National Assembly this past week passed the national budget for next year. The approval outlines key allocations and priorities for South Korea's finances. For more on this, we have our Lee Shi-hoo joining us. Welcome to the program, Shi-hoo. Hi Ye-eun. So tell us, what is the exact national budget for the 2024 fiscal year? Right, so the national budget is 6-hundred-fifty-six-point-6 trillion Korean won or around 5-hundred-three-point-3 billion U.S. dollars and this is a decrease of around 2-hundred-30 million dollars from the government's initial proposal submitted back in September. It passed with 2-hundred-37 votes to 9, with 13 abstentions. Now, this marks the second consecutive year where the government-proposed budget has been reduced during the parliamentary review process. Compared to last year, the total budget increased by 2-point-8 percent. And it took quite some time for the Assembly to approve the budget. Why is that? ... #National_Assembly #budget #SouthKorea #NorthKorea #ballistic_missile #ICBM #YoonSukYeol #urea #Seoul_Tokyo_relations #Gansu_earthquake #WEEKLY_NEWS_HIGHLIGHTS #Arirang_News #아리랑뉴스 📣 Facebook : / arirangtvnews 📣 Twitter : / arirangtvnews 📣 Homepage : https://arirang.com/ 2023-12-23, 12:00 (KST)
