Reunification 'Would Bring Mass Migration South'

Some 1.8 million North Koreans would move south immediately if the two Koreas are reunified, and unemployment would soar to 50 percent, a study suggests.

Kim Bo-min at the Korea Institute for International Economic Policy during a seminar in Seoul on Thursday explained the alarming findings of a joint study with Germany's Halle Institute for Economic Research.

Kim said the study suggests 7.3 to 7.6 percent of North Korea's 24 million people would immediately settle in the South following reunification. In Germany, 2.5 percent of the East German population of 16 million moved to West Germany after reunification, but migration slowed drastically two years later.?

North Korean migration to South Korea would probably follow a similar pattern.

A large number of North Korean laborers would lose their jobs after reunification, which could temporarily send the unemployment rate to 30 to 50 percent. Kim urged the government to prepare job training and other proactive labor policies, just as Germany did.

A detailed development assistance plan is needed to get the North's economy on track, rather than simply waiting for the capitalist system to take root once the border is open.

Maike Irrek, a researcher at the Halle Institute, added Germany's potential economic growth rate took a temporary hit due to reunification, but the gains were far greater starting in the early 2000s. She said Korea too would reap the benefits of reunification if it is able to overcome initial teething problems.?

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Seoul to Host ISU Speed Skating Would Cup This Weekend

The ISU Speed Skating World Cup will be held in Korea for the first time in more than a decade.

Two-time Olympic champion Lee Sang-hwa and Park Seung-hi, who won two gold medals in short track speed skating at the 2014 Winter Olympics in Sochi but has now switched to long track speed skating, took front row at a press conference ahead of the three-day international event.

They expressed hope for good performances in the upcoming event.

The event will run from Friday through Sunday, featuring the best speed skaters from across the world.

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Seoul to Host ISU Speed Skating Would Cup This Weekend

The ISU Speed Skating World Cup will be held in Korea for the first time in more than a decade.

Two-time Olympic champion Lee Sang-hwa and Park Seung-hi, who won two gold medals in short track speed skating at the 2014 Winter Olympics in Sochi but has now switched to long track speed skating, took front row at a press conference ahead of the three-day international event.

They expressed hope for good performances in the upcoming event.

The event will run from Friday through Sunday, featuring the best speed skaters from across the world.

View the original article here

Bank Bonds Would Pay for Bulk of Reunification Costs

The government estimates that rebuilding the North Korean economy after reunification would cost US$500 billion. A new road map envisages establishing banks in North Korea and raising $250-300 billion by issuing bonds there.

This would mean that more than half could be raised without billing the taxpayer.

The blueprint was released by the Financial Services Commission on Tuesday. It estimates that $500 billion is needed to raise the North's per capita GDP from an estimated $1,251 in 2013 to $10,000 within 20 years. The plan is to rely heavily on state-run financial institutions, considering the limited government budget.

It envisages setting up subsidiaries of state-run financial institutions like Korea Development Bank, the Export-Import Bank of Korea and the Industrial Bank of Korea in the North and investing $30 billion in them over 20 years in addition to the $300 billion from bonds.

The blueprint also includes private investment of $107.2-$186.5 billion from home and abroad for special economic zones or lucrative projects. Once the North Korean economy is developed, the commission expects that $330 billion can be collected in taxes over 20 years, of which $100 billion would be earmarked for reconstruction of the North.

The commission claimed this would minimize the government's financial burden.

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'Awkward' Finale: Would Jenna Cheat On Matty?

'Awkward' Finale: Jenna Chooses Herself By Choosing To Kiss Collin

Things got even more "Awkward" for Jenna, just when everything seemed to be going so great with Matty, in the mid-season finale of MTV's teen comedy. He was being the perfect boyfriend, and yet there was something missing for her. Was it really just that he never read her blog, or was Jenna still haunted by the conversation she had with another group that she was out of Matty's league -- at least intellectually?

Whatever it was, Collin came in and started appealing to that intellect, and Jenna found her feelings getting all mixed up. When he confirmed that there was a mutual attraction, it was as if she lost control. It's a teenager thing.

Her timing couldn't have been worse, though. Collin had given her a ride to a party where she was going to meet Matty. Moments after texting Matty that she was out front, she and Collin were locking lips. Matty walked up, but it was unclear what he might have seen as Jenna popped up right in front of him, and right in front of a big "TO BE CONTINUED..."

“Yes, it was passionate. Yes, it was epic. But most importantly, it was wrong," wrote Hollywood Life of the big kiss. "To be honest, I don’t really care what’s going on in Jenna’s head; Matty ... has been the perfect boyfriend this season ? not only has he put up with her incessant pity parties, but he even learned how to dance/give good face for her ? and what she did this week was unforgivable.”

Jenna's probably going to mire herself in guilt and self-pity some more after betraying Matty like that. She'll have to stew on what she did until the Fall, when new episodes of "Awkward" return.

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