What are the major issues that the BOK picked that will influence the New Year’s economy? [투데이 데스크 픽]

◆The BOK looks at the report on’Issues that will influence the global economy in 2021′

The Bank of Korea predicted that in 2021, the global economy will depend on a new coronavirus infectious disease (Corona 19) vaccine, US President-elect Joe Biden’s economic policy’Bidenomics’, and China’s transformation of growth strategies.

On the 3rd, the BOK selected and announced ‘7 issues that will influence the direction of the global economy in 2021’, including them.

The BOK predicted that “the global economy this year will have some negative factors, such as deepening economic recovery imbalances, but the growth will increase in the second half of the year due to the commercialization of the Corona 19 vaccine and the expansion of fiscal spending by the new US government.” He added, “There is a possibility that the global economy will unfold in an unexpected direction, as various issues such as the delay in the end of Corona 19 and the conflict between the US and China have an impact.

◆ Amendment to the Enforcement Decree of the Specialized Credit Finance Business Act… Will my heartache from the termination problem disappear now?

In the future, subscription economy providers such as music, movies, books, and regular delivery should clearly notify consumers of the relevant schedule when switching from free to paid services.

Consumers can easily apply for cancellation outside of business hours, and the option of a refund method is not limited to points.

The Financial Services Commission announced on the 3rd that it would announce the legislative amendment to the Enforcement Decree of the Specialized Credit Finance Business Act from the next day until February 15th.

Subscription economy refers to the provision of certain goods or services by a supplier when consumers regularly pay a certain amount. Subscription economy services are provided in a variety of industries such as digital content (Netflix, Melon, etc.), regular delivery (Coupang, Gmarket, etc.), and books (Ready Books, Millie’s library, etc.).

Subscription economy operators often provide free and discounted events to secure customers, but after the end of this period, complaints are frequently raised as they often switch to paid services without proper guidance.

Reporter Lee Chun-jong, Yonhap News [email protected]

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