Domestic pork belly and neck meat will be sold at up to 30% off starting from the 8th.
The Ministry of Agriculture, Food and Rural Affairs announced that it will support discounts on pork and eggs ahead of the Lunar New Year.
Egg prices will be reduced through supply chain adjustments, and 2.24 million fresh eggs from the U.S. will be imported as a precautionary measure.
The Korean stock market is pushing for inclusion in the MSCI Developed Market Index to overcome the ‘Korea Discount’.
The government plans to improve the structure of the foreign exchange and capital markets and establish an advanced investment environment.
If inclusion is decided next year, index-tracking funds are expected to flow into the country around 2028.
President Lee Jae-myung predicted that this year’s economic growth rate would be around 2%.
He emphasized at the National Economic Growth Strategy Report Meeting that all citizens should share the fruits of growth.
He also addressed youth issues, recognizing them as a national crisis and calling for special measures.
The government aims to achieve a 2.0% economic growth rate by investing a super budget of 727.9 trillion won.
The strategy focuses on four main areas: macroeconomic management, potential growth rate rebound, balanced national growth, and strengthening the foundation for a great leap forward.
It includes various support measures to elevate key industries such as semiconductors, defense, and artificial intelligence to global leadership.
The Ministry of Science and ICT (MSIT) will prioritize the allocation of over 4,000 advanced GPUs, including 2,296 H200s and 2,040 B200s, to industry, academia, and research institutions from the 13,000 GPUs secured this year.
This initiative aims to support AI research, development, and the creation of innovative services, with a call for project proposals open until January 28, 2025, via an online platform (AIinfrahub.kr).
Academic and research institutions can use them free of charge, while the industry (SMEs, startups) will pay 5-10% of market price, with preferential treatment for regional companies and additional reviews for large-scale projects.
The Ministry of Justice decided the revision of contract law at the State Council meeting on the 16th as the first step toward modernizing the Civil Code.
The revision includes allowing adjustments to the statutory interest rate and enabling cancellation of declarations of intent made under gaslighting situations.
This marks the beginning of a comprehensive overhaul of the Civil Code, which had remained largely unchanged since its enactment in 1958.