1. The South Korean government formally proposed Monday compensating more than a dozen victims of Japan's wartime forced labor through a Seoul-backed public foundation, instead of direct payment from responsible Japanese firms.
2. China set this year's growth target at around 5 percent, in a cautious forecast after the pandemic-hit economy. Pundits say, as the Korean economy is highly dependent on China, a chain shock to the overall economy, including exports to Korea, is inevitable.
3. The government plans to adjust the current maximum 52-hour workweek as part of a massive restructuring of the current labor system. The change will allow employees to manage their hours flexibly, enabling them to work up to 69 hours weekly and reduce their hours at other times.
