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≡ First Heavy Snowfall Advisory Issued For Seoul: KMA
A heavy snowfall advisory is now in effect for the capital region.
The Korea Meteorological Administration issued the advisory for Seoul and parts of Gyeonggi at 9 a.m.
Some areas received up to 4 centimeters of snow.
Officials are urging caution on the roads.
The snow has prompted multiple road closures, including Bukaksan-gil, Inwangsan-gil and Samcheong-ro.
Dozens of flights have also been delayed or canceled at Gimpo Airport.■[2017.12.18]
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≡ Govt To Set Up 1 Tln Won Fund For Restructuring Of SMEs
The government will set up a fund worth 1 trillion won to restructure struggling small and medium-sized enterprises.
The Financial Services Commission says, under the scheme, eight state-run and commercial banks, including Korea Development Bank, will raise 500 billion won by the end of next February.
The remaining 500 billion won will be raised from private investors, mostly private equity funds.
The fund is aimed at encouraging more private investors to join the corporate restructuring market and break away from measures led by the government.■[2017.12.18]
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≡ Rival Parties' Leaders To Tackle Pending Bills During Dinner Meeting
The floor leaders of the country's three main political parties will sit down for a working dinner tonight.
Woo Won-shik of the ruling Democratic Party, the Liberty Korea Party's new floor leader Kim Seong-tae and Kim Dong-chul of the People's Party will discuss pending bills.
Parliament's extraordinary session is set to wrap up on Saturday.■[2017.12.18]
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≡ Consumers To Spend Less On Gift-Buying This Holiday Season: Poll
A recent survey suggests Korean consumers will be spending less on gifts for the holiday season than they did last year.
According to market researcher DMC Media, Koreans are putting aside an average of 203,000 won for gifts this year, a decline of 58,000 won.
The pollster attributed the fall to rising unemployment, a lack of job security and rising home prices affecting consumer confidence.■[2017.12.18]
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≡ Govt Launches Safety Inspections Of PyeongChang Olympic Venues
The government was set today to launch safety inspections of the PyeongChang Winter Olympic venues.
From today through Friday, the safety ministry will work with the infrastructure ministry and fire officials to check facilities, including the main stadium, the athletes' village and broadcast centers.
Nine KTX stations between Seoul and Gangneung will also be inspected.■[2017.12.18]
