NEWS BRIEF

[Anchor Lead]

The Finance Ministry will actively consider measures to ease price hikes of processed foods such as through the release of government reserves, enhanced import procedures and expansion in financial and tax support. Regarding agricultural and livestock products whose prices are also sharply up in recent days, the ministry expected inflation to stabilize for most items thanks to conducive climate and efforts to better manage the supply volume.

Domestic streaming giant Wavve said Friday it will invest one trillion won through 2025 to strengthen competitiveness in the contents sector. The figure, the largest of its kind for contents, goes beyond the company’s earlier plan announced at the time of its launch. For the investment, wireless carrier SK Telecom which is a major shareholder of Wavve held a board meeting Thursday and decided to finance the plan by issuing 100 billion won worth of new stocks. The streaming platform will also secure funds from investors and through content-related profits.

The nation’s police chief said Friday that all available resources will be mobilized to thoroughly investigate real estate speculation allegations that first erupted from the Korea Land and Housing Corporation or LH. National Police Agency commissioner-general Kim Chang-yong stressed the importance of delivering results the public find reliable and said the latest case is a test bed to prove the police’s investigative capabilities coming at a critical time. He said all suspects will be subject to a probe regardless of their rank and status.