NEWS BRIEF

[Anchor Lead]

The Bank of Korea sharply slashed its 2020 economic projection, predicting that the South Korean economy will grow minus 0.2 percent this year. The adjustment came in three months after the central bank presented a 2.1-percent growth rate in February. This is the first time since the 1998 financial crisis that the nation is predicted to post negative growth.
Finance Minister Hong Nam-ki announced a plan to create a fund of 500 billion won to support the country's auto parts industry. Financed by the government and carmakers, the fund will provide guarantees on loans taken out by auto parts companies.
The Korea Institute for Basic Science along with researchers from China and Switzerland have developed a technology to synthesize two-dimensional materials in various high-performance forms. Two-dimensional materials, such as graphene, are used in high-tech applications, like rollable displays.
High-profile auctions of two ancient Buddhist treaures failed to attract any bidders. Owned by Kansong Art Museum and designated as national treasures, the gilt-bronze statues of Buddha were put up for sale at the headquarter office of K Auction on Wednesday. Bidding began at 1.5 billion won each but ended with no bids.