* Date : 2015-03-27
From water purifiers to air purifiers, beds and nursery products. There's nothing you can't borrow in the rental market which is booming despite or because of the recession. The domestic rental market has grown to a size of 12 trillion won in the last ten years by diversifying the number of items and services available. From homes to corporations and local governments, why do people choose to rent rather than buy? We'll take a look at the backdrop of the emergence of the rental market and examine the side effects.
Interviewee: Deputy Minister for International Ecoomy Choi Hee-nam, Ministry of Strategy and Finance
The annual meeting of the Boards of Governors of Inter-American Development Bank (IDB) and Inter-American Investment Corp. is taking place in Busan. The meeting, which is being held on the tenth anniversary of South Korea's membership into the IDB, is South Korea's largest Latin America-related event. Attended by finance ministers, central bank governors and corporate leaders from 48 member countries, the event will provide an opportunity for South Korea to advance its economic cooperation with Latin American countries. We'll take a look at the significance of hosting the event and its economic impact on South Korea.
South Korea has become the first country in the world to develop the technology to produce cement from waste generated in the process of making steel from scrap metal. The technology involves rapidly cooling the liquid-phase slag with a strong wind, grinding the material and turning it into cement by mixing additives. The technology will make it possible to produce 280 billion won worth of cement by recycling 720-thousand tons of waste annually. As well as being economical, the new technology is expected to reduce environmental pollution arising from burying steel waste.
The most popular sports in South Korea is arguably baseball! The hot topic this baseball season is "smart" ballparks equipped with the latest information and communications technology. The stadiums allow simultaneous wifi connection by 100-thousand people as well as seat and discount information through beacon service. There's also a "smart" ordering service that allows baseball fans to order and receive snacks from their seats. We'll introduce newly remodeled "smart" ballparks.
More than 90 percent of the North Korean economy is said to have marketized. According to a report by a domestic economic policy think tank, the majority of North Koreans earn part of their income from markets and North Korea will be capable of being incorporated into a market economy system within five years of unification. North Korea seems to be far from capitalism, but some analysts even say the country owes its recent growth to policies tolerating market activities. We'll take a look at changes in North Korean society stemming from the rapid marketization of its economy.