Korean notebooks movie#

At 1 foot, shallow barges are still able to pass along the river, but any lower would make such a journey untenable. Water levels on Germany’s Rhine River are set to fall even lower over the coming days, according to local officials, potentially bringing shipping traffic supplying critical industries to a standstill. A central bank survey of economists predicted that the country would see annual inflation rise to 90 percent by the end of the year.ĭry Germany. Inflation so far this year stands at 71 percent, the highest in almost three decades. Argentina’s central bank hiked interest rates 9.5 percentage points on Thursday, bringing the overall benchmark rate to 69.5 percent, as it seeks to tame ever-increasing inflation.

Sohn Mal-nyeon, a banjiha resident in her 70s, told the Korea Herald that the new announcement was unlikely to lead to real change: “Well, what do you expect people to do? They live here because it’s cheaper, you know.”Īrgentina’s inflation battle. Civic groups immediately called for more affordable housing to address the new need. Where the approximately 200,000 families who count on them for shelter will go is a problem yet to be solved. In response to this week’s floods, Oh on Thursday announced the phasing out of banjiha basements over the next two decades. Rising interest rates have recently helped cool the market, but the knock-on effect of higher mortgage rates has increased fears of defaults among those who have managed to take a step onto the property ladder. During his campaign, Yoon promised to build 2.5 million new homes, with half of them to be built with private sector funds.ĭespite a raft of policy interventions, prices in metropolitan Seoul, where almost half the country’s population lives, remain stubbornly high, and the price of an average apartment there has doubled in the past five years. The winner of that election, Yoon, has pledged to reverse Moon’s housing policies. The housing market was a major issue in March’s presidential election, and outgoing President Moon Jae-in was repeatedly criticized for his government’s failure to tame it. Roughly 5 percent of households in Seoul are believed to live in banjiha properties across the city.

Korean notebooks movie#

That four of those killed in the flooding lived in banjiha semi-basement dwellings-the kind popularized in the Oscar-winning movie Parasite, which featured a catastrophic flood scene-has thrown a spotlight on the country’s housing crisis, where home ownership is becoming out of reach for the middle classes, let alone those further down the economic scale. On Wednesday, Oh announced plans to spend more than $1 billion building infrastructure to increase the city’s resilience, including a vast underground tunnel system first proposed after heavy rains in 2011. Seoul Mayor Oh Se-hoon warned that the city would need to improve its ability to handle such intense rainfall now that climate change makes the weather events more frequent. Earlier this summer, record floods in Bangladesh severely affected more than 7.2 million people, while in China, thousands were evacuated amid flash flooding in the southwest and northwest of the country. South Korea is the latest to experience a particularly intense monsoon season in Asia. The floods that engulfed South Korea this week have provided the first major emergency for new President Yoon Suk-yeol-and one where the enemy isn’t missiles coming down from the sky, but torrential rain.Īt least 11 people-including one child-have died in the floods, which came after the worst rainfall the capital, Seoul, has seen in more than a century.