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Country risk, from the local press

South Korea · Country watch

Chuseok Traffic Woes, Korea-Mexico Trade Talks

Chuseok holiday traffic congestion affects logistics, while South Korea seeks to resume trade talks with Mexico.

· · 5 sources

The picture Mixed

Business conditions in South Korea are mixed: Chuseok traffic disrupts logistics, but potential trade talks with Mexico could benefit exporters.

In this briefing Chuseok · Kim Yea-ji · National Police Agency (South Korea) · Lee Jae Myung · South Korea-Mexico Free Trade Agreement

Regulation

Nothing significant reported today.

Disruption

  • logistics
  • tourism

Chuseok holiday causes major traffic congestion

cars on road during night time
Minku Kang / Unsplash

Major roads and expressways across South Korea were congested on Saturday, the third day of the Chuseok holiday, as people returned home from family reunions. According to The Korea Herald, travel times to Seoul from Busan were estimated at seven hours, from Mokpo at six hours and 40 minutes, and from Daegu at six hours. This congestion is expected to continue as the holiday period progresses.

Impact Logistics and tourism sectors face delays due to extended travel times during the Chuseok holiday.

Sources: The Korea Herald ↗, Korea.net ↗

Internal tension

  • public-sector

Domestic violence reports surge during Chuseok

Reports of domestic violence in South Korea surged by nearly 45 percent during last year's Chuseok holiday compared to ordinary days, according to data from the National Police Agency. Korea.net reports that authorities are on heightened alert this year, as the pattern of increased reports has become more pronounced since 2021. Rep. Kim Yea-ji of the People Power Party highlighted the need for increased vigilance during the holiday period.

Impact Public-sector agencies face increased pressure to address the surge in domestic violence reports during the holiday.

Sources: Korea.net ↗

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

Nothing significant reported today.

Trade

  • manufacturing

President Lee urges resumption of Korea-Mexico FTA talks

South Korean President Lee Jae Myung called for the swift resumption of free trade agreement negotiations with Mexico. Speaking at a Korea-Mexico business forum in Mexico City, he emphasized the importance of elevating bilateral economic cooperation, which he claimed is already contributing significantly to the Mexican economy and job creation. Korea.net reports that the resumption of these talks could enhance economic ties between the two nations.

Impact Manufacturers and exporters in South Korea could benefit from renewed trade talks with Mexico, potentially increasing market access.

Sources: The Korea Herald ↗, Korea.net ↗

Politics

Nothing significant reported today.

Also today in South Korea

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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The same day elsewhere