NEWS BRIEF

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Outgoing U.S. Ambassador to South Korea Harry Harris said Tuesday that while we hope for diplomacy with North Korea to be successful, hope alone can't be a course of action. During an online forum, he also said that while North Korea may no longer be South Korea's enemy, we must remember the North Korean leader's pledge during the recent party congress to bolster military power and nuclear deterrence against potential threats and contingencies.
In a New Year's briefing to President Moon Jae-in, the Financial Services Commission disclosed plans to extend the grace period on loan payments for small and medium sized firms and small scale business owners, with the end of March deadline approaching. The watchdog said extending temporary support measures is inevitable given the current COVID-19 situation and economic and financial sector conditions. It also promised to strengthen support for the socially vulnerable including introducing a 40-year home mortgage loan scheme for young residents.
The Ministry of Gender Equality and Family said Tuesday that a revised law aimed at facilitating the payment of childcare costs has passed the Cabinet. The revision allows the provision of data on a person's land and real estate holdings to enable inspections into his or her payment ability regarding child support. Also last year the ministry cleared the way for inquiring into the credit and insurance information of people who need to pay child support fees without their consent, and having them make those payments in the same way as collecting tax.