PM urges parliament to handle budget on time

Prime Minister Hwang Kyo-ahn on Wednesday urged the parliament to focus efforts on handling next year's budget plan on time, adding South Korea is currently facing challenging economic conditions.

"We are concerned over the negative impact on the production and export of key products such as handsets and automobiles, amid the troubles in the smartphone industry as well as strikes staged by railroad and automaker workers," Hwang said during a budget session at the parliament.

"Amid slowing exports and investment, South Korea's economy is also facing hurdles in the job market amid the restructuring of shipbuilder and shippers," Hwang said.