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Finance

President Lee Jae-myung says won-dollar rate likely to fall to around 1,400

President Lee Jae-myung said authorities predict the won-dollar exchange rate will fall to around 1,400 in a month or two despite a persistently high level. Speaking at a New Year news conference, he said the situation is not unique to South Korea and is difficult to reverse through policy. He cited record exports of $700 billion and a continuing trade surplus, and said the market is driven by supply and demand.

Finance

President Lee Jae-myung says retirement pension returns stuck at 1 percent, fund model needs debate

With the KOSPI nearing the 5,000 mark, President Lee Jae-myung (이재명) called for structural reforms to lift retirement pension returns, which he said remain around 1 percent. He noted expectations that a stock-market rally could improve the national pension outlook, but said retirement pensions are being neglected. Lee suggested discussing fund-based management and integrating and restructuring complex pension schemes, while dismissing related rumours as malicious fake news.

Games & Commerce

Instagram to redefine friends, differentiating from following

Instagram is testing a new feature that shows the number of mutual connections as “friends” instead of displaying follower counts, in a push to strengthen a friend-centred social experience. The test converts the following figure on user profiles into a friend count, with only mutual followers included. Meta also plans to label some feed content as “friends,” reinforcing friend-focused exposure and interactions.