tbs eFM 101.3 News http://tbs.seoul.kr/eFm/newsMain.do President Says Tax Increase Won't Affect Average Citizens http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258177&typ_800=N President Moon Jae-in has said that a tax hike was inevitable to fund the new government's 100 policy tasks. At the two-day meeting on financial strategies which ended yesterday, Moon said the government has yet to set the scope or direction of the tax hike, but said it will affect only the highest income-earners and the largest conglomerates. The government will likely begin discussing the matter with Cheong Wa Dae and the ruling party as soon as next week.■ Meeyeon Ahn 201707220910+0900 Assembly's Budget Committee Approved Extra Budget Bill http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258176&typ_800=N The National Assembly's budget committee has approved the government's extra budget bill. The move, which was made in the early hours of this morning, came more than a month after the bill was submitted to the Assembly. The committee approved budget has been set at just over 11.03 trillion won, reflecting a decrease of about 150 billion won than initially submitted by the government. The amount for job creation in the public sector has been cut while the budget allocated to support the Sewol ferry disaster affected areas and the upcoming PyeongChang Winter Olympics has been increased. The number of civil servants to be increased has been set at 2,575, down by about 2,000 from the government's initial plan. The National Assembly plans to open a plenary session this morning at 9:30 for the bill's final approval at the parliament.■ Meeyeon Ahn 201707220910+0900 Weather Update 0900 http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258175&typ_800=Z Taking a look at the weather on this Jungbok(중복), second of the three dog days. Heavy clouds are lingering across the country as showers continue to fall. While heavy rain advisories have been issued for Gangwon Province, between 30 and 80 millimeters of precipitation is expected for northeastern Gyeonggi and Gangwon through tomorrow before tapering off by the evening. Some areas in the central region could get up to 120 millimeters. Temperatures are set to rise to the mid 30s in most parts. The local mercury will hit 33 degrees and Daegu 35. As for the current reading in downtown Seoul, it is _____ degrees Celsius or _____ degrees Fahrenheit.■ Meeyeon Ahn 201707220910+0900 Boryeong Mud Festival Underway http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258174&typ_800=I The Boryeong Mud Festival is now underway after it kicked off a 10-day run yesterday. Celebrating its 20th anniversary, there are various mud-themed activities, ranging from games, sports, arts and craft, to skin therapy. Live performances are also planned, including concerts from K-pop stars Psy, Crying Nut, EXID and Momoland.■ Meeyeon Ahn 201707220910+0900 U.S. To Ban Citizens' Travel To N. Korea: State Department http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258173&typ_800=M The United States will ban its citizens from traveling to North Korea amid concerns about their safety. The announcement by the State Department comes after the death of U.S. college student Otto Warmbier, who died last month after returning from the North in a coma. The restriction will be announced in the Federal Register next week and take effect 30 days after the notice's publication. The U.S. has previously warned its citizens against travelling to North Korea, but it will be the first such ban.■ Meeyeon Ahn 201707220910+0900 US Stocks Dip On Lower Oil, Earnings, Ending Nasdaq Streak http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258172&typ_800=L U.S. stocks finished barely lower Friday on mixed earnings and lower oil prices. The Dow Jones industrial average retreated 31 points, or 0.1 percent, to 21,580. The S&P 500 dropped slightly to close at 2,472, while the Nasdaq dropped less than 0.1 percent to 6,387, retreating from its record.■ Meeyeon Ahn 201707220910+0900 KOSPI Hits New Record High On Foreign Buying http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258144&typ_800=L Korean stocks closed at another all-time high today, marking record gains for an unprecedented seventh session in a row. The KOSPI rose a third of a percent to close at 2,450. Elsewhere in Asia, Tokyo droppe 0.2 percent as did Shanghai and Hong Kong was down 0.1 percent. The local currency ended at 1,118 won to the U.S. dollar, up 7 won from the previous close.■ Aram Ro 201707211712+0900 Prosecutors Find Irregular Transaction Between KAI And Subcontractors http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258138&typ_800=P Seoul Prosecutors have found suspicious fund transactions between Korea Aerospace Industries and its subcontractors. The Seoul Central District Prosecutors' Office say they are analyzing acquired documents to find whether the money was used to create slush funds. It is the first time the prosecution publicly confirmed that there may have been illicit deals between the defense firm and its subcontractors. Prosecutors are digging into possible irregularities within the KAI's management and plan to expand their probe into other suspicions, including political lobbying.■ Julie Sohn 201707211632+0900 KOSPI Hits New Record On Solid Earnings Hopes http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258136&typ_800=L Korean stocks closed at yet another record-high today amid expectations of solid corporate earnings. The KOSPI rose half a percent to close at 2,442. Elsewhere in Asia, Tokyo climbed 0.6 percent, Shanghai soared 0.4 and Hong Kong was up a quarter of a percent. The local currency ended at 1,126 won to the U.S. dollar, down 5 won from the previous close.■ Aram Ro 201707211619+0900 Earthquake Off Southwest Turkey Leaves At Least 2 Dead http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258124&typ_800=M At least two people are dead and several others injured after a powerful 6.7-magnitude earthquake rattled Turkey's Aegean coast and nearby Greek islands early Friday. The U.S. Geological Survey said the temblor hit near the Turkish town of Bodrum and the Greek island of Kos. The mayor of Kos told Greek media buildings on the island sustained structural damage from the quake.■ Ron Chang 201707211508+0900 N. Korea's Trade Volume Rises 4.7% In 2016 http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258123&typ_800=J North Korea's trade volume rose last year, despite strengthened economic sanctions against the regime. KOTRA data showed the North's overall trade volume stood at over 6.5 billion dollars in 2016, up 4.7 percent from a year earlier. The rise was largely attributed to Pyongyang's increased exports of coal and zinc and imports of clothing and cars. ■ Julie Sohn 201707211508+0900 Weather Update 1200 http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258088&typ_800=Z Taking a look at the weather, sweltering conditions are forecast to continue nationwide, with heat wave advisories ㄴstill in effect for most parts. Daytime highs will be similar or slightly higher than yesterday, with the mercury hovering in the mid to high 30s. Tonight, heavier cloud cover will roll in, bringing monsoon showers to the central region. Authorities are advising the public to take caution, as heavy rains could cause flooding and landslides. As for the current temperature in central Seoul, it is _____ degrees Celsius or _____ degrees Fahrenheit.■ Rosyn Park 201707211507+0900 Liberty Korea Party Expells Three Provincial Lawmakers For Duty Negligence http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258122&typ_800=N The main opposition Liberty Korea Party has expelled three North Chungcheong provincial lawmakers for going abroad for a training program when the region was still suffering from its worst flood damage in 22 years. The party's ethics committee reached the decision this morning, saying their departure after last weekend's downpours was an act that neglected their duty as public officials. The provincial lawmakers are Kim Hak-cheol, Park Bong-soon and Park Han-beum of North Chungcheong. ■ Julie Sohn 201707211507+0900 Unification Ministry Calls On North To Accept Its Dialogue Offer http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258121&typ_800=N Seoul's unification ministry has called on North Korea to accept its proposal of cross-border dialogue to improve inter-Korean relations. Vice spokesperson Lee Eugene also made clear that the government has no plans to make another proposal. The ministry added it will continue to wait for the North's reply for several more days, adding the dialogue proposal is effective through next Thursday, the anniversary of the signing of the Korean War Armistice Agreement.■ Julie Sohn 201707211507+0900 Govt Policy Goals Signal Inevitable Tax Increase http://tbs.seoul.kr/eFm/newsView.do?idx_800=2258120&typ_800=N President Moon Jae-in was set to hold the second and last of a series of meetings with finance officials and experts to discuss ways to fund his policies. Pundits have assessed that the government's new policy objectives may result in a tax hike. The government has already announced plans to adjust tax brackets to have the rich pay more dues. Amid this, rival party leaders are yet to agree on the government's extra budget bill, with the main sticking point being increasing the number of civil servants. ■ Julie Sohn 201707211507+0900