July 27, 2011
① Korea will hike electricity prices up by 4.9% next month in a move aimed at reflecting rising energy production costs, but will try to minimize the financial impact to low income earners.
정부가 다음달부터, 전기요금을 원가에 훨씬 못 미치는 전기요금을 4.9% 인상하되, 취약계층에 미치는 충격은 최소화하는 데 초점을 맞췄습니다.
② The Financial Services Commission announced plans to allow the establishment of large-scale homegrown investment banks before the year is out, which will engage in financing mergers and acquisitions and trading in unlisted stocks.
금융위원회는 기업 인수합병(M&A) 대출과 비상장주식 직거래 등 역할을 맡을 대형 종합금융투자사업자(IB)을 국내 자본시장에 처음으로 도입하는 내용을 골자로 하는 `자본시장법 개정안'을 마련해 발표했습니다.
③ The Obama administration announced a set of tough new sanctions against four far-flung criminal cartels on Monday, as part of a coordinated strategy to fight international crime rings that could do damage to U.S. interests or security.
미국 정부는 25일(현지시각) 미국의 국익과 안보에 영향을 줄 수 있는 국제적 조직범죄 단체에 대한 제재안을 발표했습니다.
<News Article #1>
Government to slap 4.9% increase on electricity prices next month
Korea will hike electricity prices up by 4.9% next month in a move aimed at reflecting rising energy production costs, the commerce ministry announced on Tuesday. Electricity bills for households will jump by 2% in August, while for commercial and industrial use, increases will be steeper at 4.1% and 6.1% respectively, and farmers will be let off, facing no rises at all, the Knowledge Economy Ministry announced. The ministry claim that they had no other choice but to increase prices due to higher raw material costs, adding "The government still tried hard to ease its impact on ordinary people."
** Key phrases:
1. To be let off: 제외되다, -를 면하게 하다
- grant exemption or release to. To excuse.
Eg. Everyone usually gets detention if they don’t hand in their homework but Tom asked to be let off because he had been sick all weekend.
2. Have no other choice but to: 다른 선택의 여지가 없었다
- the only choice was / is.
Eg. The teacher was very strict and told Tom that she had no other choice but to give him detention like everyone else.
<News Article #2>
Big investment banks set to debut
The financial regulator announced plans to allow the establishment of large-scale homegrown investment banks before the year is out, which will engage in financing mergers and acquisitions and trading in unlisted stocks. Brokerages with an equity capital over 3 trillion won (US$2.8 billion) will be eligible to become investment banks under the new revision to the capital market law, the Financial Services Commission (FSC) announced. The FSC said it hoped that the revision would strengthen direct financing of mid and small-sized companies, whilst also supporting local companies’ efforts to access funds for large overseas project deals.
** Key phrases:
1. Homegrown: 토착의; 현지에서 재배되는
- grown or originating in a particular place.
Eg. There is not enough homegrown, English talent in the Premier League because of all the foreign players playing there.
2. Before <time period> is out: <시간이> 다 가기 전에
- prior to <time period> ending.
Eg. You must kill the werewolf before the day is out otherwise he will kill again tonight.
<News Article #3>
Obama administration launches new global crime crackdown
The Obama administration announced a set of tough new sanctions against four far-flung criminal cartels on Monday, as part of a coordinated strategy to fight international crime rings that could do damage to U.S. interests or security. President Barack Obama signed a new executive order that outlined a broadside of harsh sanctions against so-called international underworld factions, which ranged from freezing assets to barring their members from entering the United States. The criminal cartels that have been targeted are the Mexican Los Zetas, the Japanese Yakuza, the Italian Camorra and the Eastern European Brothers’ Circle.
** Key phrases:
1. Far-flung: 먼, 멀리 떨어진
- Remote; distant.
Eg. I’m envious of my friends back in London who get 4 weeks of holiday a year and go to far-flung places like Australia and the U.S.
2. To freeze assets: (정부가) 자산을 동결하다
- To prevent or restrict the financial exchange, withdrawal, liquidation, or granting of by governmental action.
Eg. They tried to stop him fleeing the country by freezing his assets so he would have no money to spend.
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