Government should take note of warning signs while BOK raises rates to battle inflation

The Bank of Korea raised its key policy rate by a quarter percentage point Thursday and revised down the country’s growth outlook, amid runaway inflation accelerated by soaring energy prices. The rate hike itself was widely expected in the market. More significant is the revised outlook the central bank projected for the country going forward, and the figures are far from rosy. The central bank’s latest move put the benchmark seven-day repo rate to 1.75 percent, up from 1.5 percen

DP unwilling to pass legislation committee chair to ruling party

The speaker of the National Assembly and chairperson of its legislation and judiciary committee play essential roles in the process of passing bills. The chairperson of the committee has authority to preside over meetings, which are the last hurdle to the assembly plenary session. The speaker has the right to introduce a bill and put it to a vote in the plenary session. In past assemblies, a majority party member of the parliament was elected as the speaker while a member of the second-largest