South Korea is having a parliamentary election today, but what’s back in the headline is North Korea. 29-year-old North Korean leader Kim Jong-Un commanded ahead of the South Korean voting of the fueling of a rocket that will put up a satellite. This is also in coincidence to the 100th birthday of North Korean family dynasty’s first leader, Kim Il-Sung.North Korea agreed to not pursue any nuclear related developments just a few months ago in exchange for continued foreign aids like food supplies. Countries in agreement with it previously clearly do not see this satellite launch as a peaceful event like it has claimed. The challenging party in today’s South Korean election is viewed as more liberal and pro-North Korea while the current ruling party is viewed as more conservative and anti-North Korea. The challenging coalition criticized the ruling bodies of failing to deliver the 7% growth it promised. South Korean benchmark stock index fell 6% in the past year and its economy growth dropped from 4.3% to 3.2%.Stay tuned for more news and updates, I’m Julia Sun for the Financial News Network.
