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This Morning 2 January 1, 2015 



Part 3-1:
Tease / Upcoming highlights

It's 8:05 on Thursday…., I'm Alex Jensen.

You're listening to This Morning, coming to you live on TBS eFM 101.3 in Seoul, GFN 98.7 in Gwangju AND 93.7 in 여수.

Next, more on prospect for 2015 economy...

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Part 3-2:
Traffic & Weather

It is (Time) and we have ______ in the studio to give us the road conditions.

Part 3-3
News Focus

In-depth report


Some of the economic forcasts for this new year have been rather bleak - certainly not optimistic anyway.

The government has been scrambling to breathe more confidence into the markets as well as into our own spending habits.

We'll shortly take a closer look at what we can expect from 2015, first our reporter Hyoungjoo Choi...
In New Year's address, President 박근혜 vowed to gather momentum for economic recovery and overhaul the nation's economy based on creativity and innovation so that Korea's national income stand at 40-thousand dollars.

CLIP 01:26~01:37





Reviewing Korea's underperformance last year, analysts say this was due to the drop in earnings domestic firms which have been hurt by a weak Japanese yen making won-denominated exports less competitive and uncertainties in the global economy.

Last week, finance minister 최경환 laid out plans for this year. He promised that public sector will set an example and pursue reform in labor, education and finance. So this will ultimately lead to efficient distribution of people and money; the key elements of economy.

CLIP 01:33~01:46

Under such reform, the government expects the economy to grow by 3-point-8 percent. However, the Korea Development Institute expects the economy to grow by 3-point-5 percent this year, down from 3-point-7 percent it suggested back in May. This comes with a possible interest rate hike in the US and the weak Japanese yen.

Meanwhile, finance minister 최경환 said yesterday in a ministerial meeting, there's no need to be too pessimistic about the state of the economy. He said that the Korean economy stands to benefit from improvements in the global economy and dropping oil prices.

This is HyoungJoo Choi, for tbs eFM, This Morning.

Now, let's invite Professor Kim, Yong-Jin of Economics at the Underwood International College from Yonsei University.
1. Wrap-up 2014 economy? What are different prospect for 2015 economy?
=> Please wrap-up briefly the Korean economy of the past year and what are some of the different prospect on economic growth rate for 2015?

2. Prospect for consumer price and labor market? How these may increase private consumption expenditure?
=> What is the prospect for consumer price and labor market for this year? How would the change in these factors influence increase in private consumption expenditure?

3. Low interest rate and lease shortage are expected to get worse. How these would affect investment and real estate industry?
=> The low interest rate, which is at 1% level and the continuous lease shortage is expected to get worse. How would these affect further investment and real estate industry?

4. Concern for shortage in tax-revenue. Including this factor, what may be internal variables threatening our economy?
=> There has been a concern for a shortage in tax revenues. Including this, what may be some of the internal variables threatening our economy?

5. External (global) variables affecting export and import?
=> Then, what may be external variables including weak yen that may influence or threaten the expected increase in both export and import?


6. What are the core areas of structural reform?
=> What are the core areas of structural reform for economic recovery and stabilization of consumption?

7. What are reformed economic policies or regulation that may help avoid low-growth?
=> What are some of the reformed economic policies or regulation that may help to avoid low-growth in next year economy?

1. TEASE FOR PRIME TIMECelebrate 2015 with "tbs eFM's New Year Special: A Year Of Choices," hosted by Henry Shinn, on the evening of January 1st from 6:10 to 8pm. Henry will be joined by a panel of economic and IT experts to discuss next year's upcoming financial trends and technological breakthroughs that will affect both Korea and the world. All that and more on "tbs eFM's New Year Special: A Year Of Choices," airing January 1st, 2015 from 6:10 on tbs eFM 101.3.

Part 3-4
Business & Market News: Lee Sunmin, Korea JoongAng Daily

So the new year has started, and many business experts are busy trying to forecast what issues may rise to the surface this year. What are the agendas brought up by local finance experts?

Minister Choi Kyung-hwan of Finance and Strategey and Minister Seo Seung-hwan of Land, Infrastructure and Transporation said in their new year's address that Korea needs to structural reform and find new growth momentum. Choi pointed out that there are many global risks that may impose a threat on local economy such as possibilities of interest rate going up in the Uniteid States. Also domestically, higher household debt and weaker competitiveness from major manufacturing industries can also hurt the growth of local economy. Meanwhile, Seo said that in an attempt to stimulate the local economy, is it necessary to respond fast to the changes being made in the housing market, such as homeowners wanting to collect monthly rent instead of taking a lump sum deposit, more commonly known as jeonse.

2. Let's talk a little bit about Korea's inflation. The Korea's annual inflation rate was 1.3 percent last year. Is that considered high or low?

The rate is unchaged from the previous year 2013. And it is considered low compared to the rate we saw in the recent years as in 2011 the number was at four percent and in 2012 was in 2.2 percent, according to Statistic Korea.

And I hear the growth rate of the consumer prices for December last year was particular low?
Yes, Korea's consumer prices rose 0.8 percent in the last month of 2014, compare to the same time last year, and that was the lowest growth rate the country has seen in the past 14 months. The government think that the reason behind was the plunge in international oil prices. However, prices of local meat products have gone up, pork by 13 percent and beef by almost 7 percent.

3. Moving on to the next story, Korea has another bilateral free trade agreement now with Canada as of today. Tell us more about this deal. It took about nine years for the two countries to have this deal.
Yes, the two countries first started to negotiate terms back in 2005. So it took almost a decade for the two countries to finally see the result of their numerous talks. The deal was signed in September last year, about four months after the deal was signed, the free trade agreement goes into effect today, according to the Ministry of Trade, Industry and Enegry. This is Korea's 11th free trade pact to go into effect.

The obvious question one might ask whenever a FTA goes into effect is what's going to be cheaper. So tell us more about the things that willbecome more affordable and what local industries are going to be the beneficiaries.
So both countries will eliminate their import tariffs on 97.5 percent of all products shipped from each country in the next decade. For Korea, it looks like the automobile industry will get the most benefit as Canada will cut the current 6.1 percent tariffs on Korean cars to about 4 percent. Local retail consumers will see cheaper price tags on famous winter down jacket Grey Goose, as 13 percent tax on the winter jacket will be lifted immediately. Also tariffs on Canadian ice wines and robsters will also be lifted soon.

4. Let's move on to the last story for today, many local companies are planning to encourage their employees for a good year on their first day at work in 2015. Why is it so important for local companies to have a ceremony that signals the beginning of a new year on the first working day of the year?
Since last year, many companies struggle to make better sales and show more promising performances, they hope for a better year to come this year. So many of the companies use the first day at work for the new year to deliver some encouraging messages. Many will have their CEO appear in front of the employees and deliver such messages. Hyundai Motor Chairman 정몽구 will come to the headquarters in Yangjae, southern Seoul and will present the new target for the year in front of about 1,000 employees. LG Group Chairman 구본무 will do the similar in its Yeouido office in western Seoul.

So these companies you just mentioned start have work tomorrow. But what about the other companies that start working days next Monday?
Since Friday, the January 2 is in between the national holiday and a weekend, some companies decided to just issue Friday as company holiday and start the new year on Monday. Hyundai Heavey Industries had decided to have its employees take Friday off. Hanwha is doing the same and will deliver messages on its target for the year on Monday. Korean Air also plans to start the new year next Monday and the chairman 조양호 is supposed to make a speech to employees.


A quick reminder that we'd love to hear from you, especially if you have questions or comments as we broadcast live. Easiest way is to sending a Kakao Talk message using the 'Plus friend' feature or a text at #1013, each message will set you back 50 won. You can also hop on our message board at or follow us on twitter, @efmthismorning. I'm Alex Jensen, and you're listening to This Morning.


Part 4-1:
Traffic & Weather

It is (Time) and we have ______ in the studio to give us the road conditions.

Public Service Announcement:
(1) What to do when Emergency Vehicles Approach

When you hear the emergency vehicle sirens, pull over to the side if possible. Make way, and wait for the emergency vehicle to pass. Check to make sure the way is clear and signal before merging back into the traffic lane.

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If you need emergency assistance, call the 119 emergency center. Your call will initially be answered by an operator speaking Korean, but operators fluent in English, Chinese and Japanese are also in standby to give you the help you need. Dial 1-1-9.

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Part 4-2:

Now to some stories we've not covered in detail this morning...

The younger sister of Cho Hyun-ah has apologized for a text message to revenge the former Korean Air executive. Cho Hyeon-Min, the youngest daughter of Korean Air chairman Cho Yang-ho, had pledged to "take revenge no matter what" for the ongoing probe in a text message to her older sister. It wasn't clear who the younger Ms. Cho's vows of vengeance were directed at.

Hankuk University of Foreign Studies' announcement to switch the grade evaluation for all subjects has triggered much opposition from the students. The university plans to change the grading evaluation to a relative system and the announcement came after the semester ended. The students will file an injunction against the school to suspend the measure's validity.

The suspect arrested for killing an elderly neighbor and disposing the body in a trunk had attempted to sexually assault her. Although the suspect initially said the killing was impulsive, the police later discovered that he had killed the woman because she resisted from his attempt to sexually assault her while drinking together at his home.

Police have identified the man responsible for the killing of eight people, including two children, shocking the community of Edmonton, Canada this week. 53-year-old Phu Lam's own body was found on Tuesday morning at the restaurant of his former common law spouse in nearby Fort Saskatchewan, having apparently committed suicide. His victims were discovered in two residences on Monday night, after what the local police chief described as "an extreme case of domestic violence."

US news organisation CNN is being threatened by the same hacker group that almost forced the abandonment of the Christmas Day movie 'The Interview'. The so-called 'Guardians of Peace' have released a message warning: 'The result of investigation by CNN is so excellent that you might have seen what we were doing with your own eyes.' They demanded that CNN 'turn over' its host Wolf Blitzer.

Part 4-3:
Seoul City News: Molly Kim, Freelance Reporter

Tell us about the event at the Boshingak Belfry that took place at midnight.

The Boshingak Belfry in central Seoul's Jongno District is the place to be to ring in the New Year.
The Seoul City Government rang the bell 33 times on midnight as part of annual tradition to welcome the New Year.
There were 16 participants at the bellfry event including Seoul Mayor Park Won-soon along with city officials and 11 local citizen representatives.

There were live performances by Crying Nut and other local artists and acts. About 100 thousand people had gathered in Jonggak to see the bell ring despite the cold weather. Around 8 thousand police were at the site for their safety.

(1st news- Seoul to publish a casebook for working moms)



Alex: The number of working moms has been increasing yet most working moms are still complaining of hard work and weary lives. And Seoul Metropolitan Government published a casebook in an effort to solve their difficulties.

Molly: Yes. According to a survey of 1,000 working moms in their 30s and 40s, about 84 percent said it was hard for them to juggle between work and childrearing. And the Seoul Working Mom Support Center analyzed over 3,800 personal counselling cases and published a casebook over the three major difficulties of working moms; difficulties with work, family relations and individual.
The book has analysis of consultation types of 130 counselling cases. It also has common knowledge on labor and support systems such as maternity leave that working moms should have and . The book has information related to jobs and career development, psychological therapy service for working moms and stratigies to handle problems.

Alex: Where can you get this book from?
Molly: 350 copies are going to be distributed for free on a first-come first-served basis. And you can also download the original file in PDF form from the center's official website at If you'd like to get the hard copy, you can apply through the bulletin board from the website or through e-mail

(2nd news-Seoul to hold Hackathon in July)
Alex: Seoul Metroppolitan Government will have a 'Global Hackathon Seoul' next July. Can you explain what it is exactly for those who are not familiar with the concept?

Molly: Yes. The word "hackathon" is a portmanteau of the words "hack" and "marathon", where "hack" is used in the sense of playful, exploratory programming, not its alternate meaning as a reference to computer crime. A hackathon (also known as a hack day, hackfest or codefest) is an event in which computer programmers and others involved in software development, including graphic designers, interface designers and project managers, collaborate intensively on software projects. Occasionally, there is a hardware component as well. Hackathons typically last between a day and a week. Some hackathons are intended simply for educational or social purposes, although in many cases the goal is to create usable software.
The term hackathon was first used in 1999 for an event held in Calgary where 10 developers came together to avoid legal problems caused by export regulations of cryptographic software from the United States.
Starting in the mid to late 2000s, hackathons became significantly more widespread, and began to be increasingly viewed by companies and venture capitalists as a way to quickly develop new software technologies, and to locate new areas for innovation and funding.

Alex: And some major companies were born from these hackathons?

Molly: Right. For example, GroupMe, began as a project at a hackathon at the TechCrunch Disrupt 2010 conference and in 2011 it was acquired by Skype for $85 million. Facebok's like button and chatting function were also developed through hackathon in the company.
This international scale Hackathon event will be held in Seoul in July for the first time in Korea and about 2,000 people from all over the world will participate in the event.
Winners will be awarded with prize and prize money. The city plans to invite top domestic and foreign IT companies and investors so that the participants' ideas can be led to actual business start-up.

Alex: If you would like to participate in this event, how can you register?
Molly: The registration for the event begins next March. The details have not been decided but once they are, they will be posted on the Seoul city's official website at or the event's official website at

(3rd news- Seoul to give reward up to 1 million won for reporting Uber service)
Alex: Seoul Metropolitan Government plans to reward citizens for reporting on Uber taxi operations in the city? (We talked about this on the show before)
Molly: Yes. Seoul Metropolitan Government held the 17th ordinance and regulation council on Tuesday and voted for revised bill on the issue.
Starting tomorrow, this reward system will be in effect.
The amount of reward has not been decided but is expected to be between 200,000 won to 1 million won. The money will not be given right after reporting. The city government will pay the money twice a year; in the first half and second half of the year.

Molly: For those who are not familiar with the name, Uber is an app-based transportation network and taxi company headquartered in San Francisco, California, which operates in more than 200 cities in 53 countries including Seoul.
The company uses a smartphone application to receive ride requests, and then sends these trip requests to their drivers. Customers use the app to request rides and track their reserved vehicle's location.
Uber offers "UberBalck" service with full-size luxury cars and also "UberX" service with regular vehicle.
Since this October when Uber expanded its services to Seoul and the move has raised concerns from the transport ministry and the Seoul city government, who claim the service is illegal and unfairly undercuts licensed taxi companies, since its drivers don't have necessary insurance and safety controls. Seoul authorities in July classified Uber Korea's services as violating the Passenger Transport Service Act.

(4th news- Seoul to hold diverse cultural programs in January)
Alex: If you are looking for ways to celebrate the new year, Seoul has various cultural events in January. Can you introduce some of them?

Molly: Yes. On January the 8th (next Thursday), the Sejong Center for the Performing Arts will hold a new year concert with the Seoul Metropolitan Traditional Music Orchestra, Seoul Metropolitan Youth Orchestra Jang Sa-ik and more.
The Seoul Philharmonic Orchestra will perform the Chamber Series 3 : Sibelius - The Voice of Scandinavia on the 23rd at 7:30 pm at Sejong Chamber Hall. It will have the Mozart's Favorite Piano Concerto on the 30th at 8 pm at Seoul Arts Center, Concert Hall performed by Frank Braley.
There are also diverse programs at museums for children.
For more information on the cultural events, please visit the Seoul Culture Portal at or call 120 Dasan Call Center.

The Word: Damien Spry, Assistant Professor of media and journalism at Hanyang University

Today we are taking a different tack - words that are no longer good enough.

Some words start out meaning something quite specific - like many that we've discussed. For example the difference between smoking a cigarette and vaping an e-cigarette.

But some words that start out with quite a specific meaning can expand as the thing it refers to evolves or diversifies and becomes to mean many things - going from one word to mean one quite specific thing to one word meaning many quite different things.

So, new words we need next year - based on a Scott Smith article on the Quartz website, which is an online publication by the prestigious Atlantic Monthly.

The premise is that some words that have become common are being used to cover such a wide range of usage that we need new more specific words.

1. Hacker

· Hackers emerged in the 1960s as a term to describe a small group of pioneers in computing, especially associated with a group of geeks at MIT who built new hardware and invented programming tools and created a hacker subculture to go with it.

· (Many were members of the Signals and Power Committee of MIT's Tech Model Railroad Club.)

· Later computer geeks who embraced this included the likes of Steve Wozniak, who co-founded Apple with Steve Jobs.

· Anyone who embraced building their own computer and playing with programming could be called a hacker in these terms.

· Nowadays, we usually think about hackers as doing something illegal and invasive - as in hacking into the network or the system of another users, either an individual or a company or a government. We've heard plenty of stories along these lines recently.

· So hacking has gone from meaning simply coding to create new programming functions to now mean stealing or attacking or spying.

· (Interestingly, the original sense of the word lives on in the idea of 'lifehacking' - handy tips for making the most out of something ordinary, such as:

o Using unscented dental floss to cut cakes perfectly

o Buying a really cheap seat to a sporting match then, when you get to the game, checking out the online ticketing service to see which really good seats are still available - and then go sit there.)

2. Robots

· 'robot' comes from a Czech word - Karel Charpek used it in a Sci-Fi play in 1921 to describe a automaton in the shape of a human.

· In 1939 a humanoid robot called Elektro debuted at the New York World's Fair (which sounds like it may have inspired the back story to the Iron Man comic and movie series). Elektro was 7 feet tall (2.1 m) and weighed 265 pounds (120.2 kg), it could walk by voice command, speak about 700 words (using a 78-rpm record player), smoke cigarettes, blow up balloons, and move its head and arms.

· So robots used to be designed to look and act like humans - in fact, there's been a long-standing trope in Sci-Fi about robots becoming indistinguishable from humans - Philip K Dick stories are full of this (perhaps the best is Bladerunner / Do Androids Dream of Electric Sheep). Think also of the Terminator movies

· Nowadays, outside of science fiction, robots are most likely to be found on production lines, performing tasks that used to be done by human factory workers but doing them faster and cheaper - and looking nothing like humans!

· Now researchers at MIT, Harvard University and Seoul National University have engineered a soft autonomous robot named "Meshworm" for the flexible, meshlike tube that makes up its body. It moves via contracting segments of its body, much like an earthworm.

· Sangbae Kim, the Esther and Harold E. Edgerton Assistant Professor of Mechanical Engineering at MIT, says such a soft robot may be useful for navigating rough terrain or squeezing through tight spaces.

· The robot is no longer a mechanical person.

3. Drone

· Historically, drones were unpiloted aircraft used in weapons training including training anti-aircraft batteries and fighter pilots.

· Named after drone bees. Apparently the fighter pilot was called the queen bee.

· Military uses have expanded in the last decade or so, most obviously in the controversial use of drones to target and execute suspected terrorists in Afghanistan.

· Also used to carry out surveillance sorties and can in fact be pre-programmed so that they no longer need a remote controller.

· But now have many different uses beyond military - police and fire services use them to track events and people at risk or on the run, and they can also be used by power companies and the like to perform checks on lines and pipes and such.

· But now they are also Christmas gifts and this year in particular has seen them as the number one gift for men "of a certain age" (That's us!)

· These drones are likely to have 4 rotors and a camera and be actually illegal to fly in many areas - especially as they are seen as a risk to privacy when they are buzzing around neighbourhoods and leering through windows.

· There are also commercial versions of these camera drones that have been used in movie making - replacing helicopters - but they are limited because of the size of the camera they can carry and also because of the restrictions on where they can be used.

· But, mostly, they are used by amateurs. There's a stack of videos online that have appeared is the last week or so of drones ripping Christmas trees to shreds and getting stuck in trees.

· This is very different from the drones that are flying combat missions and deploying advanced weapons systems.

So these are all words that are being used to talk about too many things.

# HashtagJensen

Coming up, What's Poppin' / news next


That's our program for today. Thank you for joining us this morning. A reminder that you can follow us on Twitter at "efmthismorning" or tbs eFM's joint account "1013 eFM."

Our Producer is Seul Kim. I'm Alex Jensen.
We'll be back tomorrow at 7:05.
News updates from tbs news team is coming up next - followed by What's Poppin' with Brian Joo.


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