NEWS BRIEF

[Anchor Lead]

The government has presented a second set of emergency aid plans for the sectors hardest hit by COVID-19. Facility usage fees and rents will be exempted for the aviation and shipping industries and more loans will extended to the tourism sector.
Prime Minister Chung Sye-kyun said that it is time for us to worry about the industry and economy and that Korea needs to check in advance if there would be any problem in supplying raw materials or parts due to COVID-19. He added that, under the open market system, Korea had experienced an entire factory coming to a halt when a part failed to arrive in time.
The government has upped the forward exchange position limit from 40 to 50% so that banks can reserve more foreign assets to be supplied to the market. Forward exchange position refers to the proportion of foreign currency in a bank's equity.
The Korea Central News Agency reported that North Korean Chairman Kim Jong-un attended the groundbreaking ceremony of Pyongyang General Hospital yesterday. In his speech Kim said that he had been heartbroken that there wasn't a modern medical institutions even in the North Korean capital and ordered the hospital to be completed by this October 10th, the 75th anniversary of the foundation of the Workers' Party.