hankyoreh

World renowned Korean film director Kim Ki-duk’s wrenching movie “Arirang,” has won the top prize for the “Un Certain Regard” category at the 64th Cannes Film Festival on Saturday.

The film Arirang, which is described as a self-portrait that Kim not only wrote and directed but also acted in, reportedly received a standing ovation from the approximately 2, strong audience when showcased during the festival.

Kim won the best director’s prize at the Venice and Berlin film festivals for “3-Iron” and “Samaria,” respectively, in 2004.

Meanwhile, the top prize for the 64th Cannes Film Festival went to “The Tree of Life,“ film by the American director and writer Terrence Malick.

(Arirang News)　

A major state-run think tank Sunday sharply raised its 2011 inflation outlook for South Korea, calling for the nation‘s central bank to actively seek to normalize its prolonged low borrowing costs to help stabilize prices.

The Korea Development Institute (KDI) raised its inflation projection for Korea to 4.1 percent from the previous outlook of 3.2 percent. That is much higher than the government’s official target to stabilize inflation at around 3 percent this year.

Consumer prices will grow 4.3 percent in both the second and third quarters from a year earlier before easing to 3.3 percent in the fourth quarter, the KDI said in a report. For next year, consumer prices will stay at 3.3 percent, it added.

Citing such growing inflationary pressure, the KDI expressed concerns over the protracted low level of key interest rates, saying that the central bank should actively seek normalization of its loosened monetary policy.

(Yonhap News)