The following stories are the daily summary of news in South Korea on March 7.
SEOUL -- Spending on private education rise by 10.8% in 2022
According to data released on March 7, private school spending for South Korean students increased 10.8 percent year over year in 2022, demonstrating the nation's unwavering passion for learning. According to statistics gathered by Statistics Korea, total spending on private education for elementary, middle, and high school pupils reached 26 trillion won ($20 billion) in 2022, a significant increase from the 23.4 trillion won totaled the previous year.
[Courtesy of Chungdahm Learning]
U.S. B-52H bomber participates in joint air drills with South Korea
As part of the latest demonstration of American military power against North Korea's increasing military threats, South Korea and the United States conducted joint air drills on March 6 that included at least one nuclear-capable B-52H strategic bomber, according to Seoul's defense ministry.
[Courtesy of the Ministry of National Defense]
The South Korean F-15K and KF-16 fighter jets, as well as the bomber, were all deployed for practice over the Yellow Sea. Similar exercises with a U.S. B-1B bomber were conducted by the allies.
Prosecutors seek arrest warrant for Hankook Tire's top executive
The CEO of Hankook Tire & Technology Co. has been charged with embezzlement and other crimes and an arrest warrant has been requested. Despite the company's unstable financial situation in 2020 and 2021, Chairman Cho Hyun-bum is suspected of lending Park Ji-hoon, the head of Hyundai Motor's components supplier Leehan, roughly 13 billion won ($10 million) from its affiliate Hankook Precision Works Co.
[Yonhap News Photo]
Prosecutors claim that he also used business cash for personal purposes during that time to pay for opulent cars and make home improvements, with the total amount of embezzlement coming to almost 20 billion won.
High-thrust rocket engines, according to N. Korea, provide a "solid guarantee" for satellite launches
North Korea now has a "sure guarantee" that it will be able to launch a variety of satellites into orbit thanks to the creation of a high-thrust engine that can support a rocket. The National Aerospace Development Administration's vice director, Pak Kyong-su, made the comments amid rumors that the North is most likely to launch a military spy satellite by April.
[Yonhap News Photo]
[This article was contributed by Aju Daily reporter Joseph Kwak]
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