China asked SoKor to cancel Pohang-class corvette donation to PH – report
“China has strongly protested against the [South Korean] government’s decision to donate a 1,200-ton patrol boat and a landing vessel to the Philippines, it emerged Monday,” reported August 5 by The Chosun Ilbo, one of major news providers in South Korea.
There are a lot of protests against various financial laws of the government. It’s pretty impossible to please everyone. Financial policies will be made to meet every individual demand and the nation’s financial goals.
Let’s take you through how to manage your finances, which will help you to be personally financially organised and makes you a successful person, helping you be not affected by changes in finances of the nation.
Take your income count:
We always tend to track down our expenses and then tally with the income, but that’s not right. Learn to track your income, write down your income numbers and then write down your savings and then keep aside your expense.
Budget the expense:
Write down every expense, yes we mean every expense. Splitting your expenses into essential and negligible can help you to manage your expenses well.
Manage your savings:
With the savings money, don’t let it sit in your account. Consider a good option to start saving your money, so that it forms your next income source in the coming years.
Use apps or book:
Keep track of your savings every month and your expenses together. See how your savings are performing and check how your expenses are being managed. If you are still haphazard, then refine your style.
“According to the Foreign Ministry, an official at the Chinese Embassy in Seoul visited the ministry on June 10 after the decision was reported by media and asked for it to be canceled,” it added.
On Philippine side, there is no report of cancellation.
South Korean Defense Minister Kim Kwang-jin told Defense Secretary Voltaire T. Gazmin at a meeting in Seoul last May 30 that Republic of Korea Navy (ROKN) will decommission a Pohang-class corvette (PCC) by year-end and will be donated to the Philippine Navy.
Minister Kim said South Korea’s gesture is a small token compared with the great contribution of Filipino troops during the Korean War.
Pohang-class corvettes, a class of general purpose vessels operated by the Republic of Korea Navy, are equipped with 4 Harpoon missiles, 2 OTO Melara(76mm)/62 compact cannon, 2 Breda 40mm/70 cannon, 6 Mark 46 torpedoes, 12 Mark 9 depth charges. Sensors and processing systems depend on whether it is an ASW or ASUW version.
The said ship is expected to be donated with intact armament and sensors.