ARIRANG NEWS 20:00
OPEC decides to keep its oil output steady... taking no action to ease a global supply glut. Oil prices continue falling.
Black Friday is here... in Korea. Local retailers pull out their own Black Friday sales to keep consumers from directly shopping with U.S. stores online.
And an American film about an assassination plot against North Korean leader Kim Jong-un is hitting the screens in over 60 countries next month.
Title: OPEC refuses to cut production, oil prices slump
Brent crude oil has hit 70 dollars per barrel,... the lowest price seen since mid-2010.
This plunge... follows OPEC′s decision to keep its oil output steady... despite calls from various circles to reduce that target.
Connie Lee has our top story. Oil prices have been on the downward spiral for a while now, but they sunk even further on Thursday, after OPEC decided not to cut oil production.
During a six-hour long meeting in Vienna, the 12 members of the Organization of Petroleum Exporting Countries decided to maintain their oil output at current levels.
"The conference decided to maintain the production level of 30 million barrels a day, as was agreed in December 2011."
After the announcement, Brent Crude oil tumbled below 73-U.S. dollars a barrel a low not seen since May 2010.
"For four years-and-a-half we had a very decent price. Now the price has declined, but that does not mean that we should really rush and do something."
The decision, led by Saudi Arabia, was reached despite a global oversupply, and calls from less well-off members who favored a production cut to stem the sliding crude prices.
Prices have been dropping like a stone this year, losing around 30-percent of their value since June, in the face of rising shale oil production in the U.S.
Energy experts believe OPEC′s strategy is to maintain its dominance in the market in the long run a further drop in prices will make U.S. shale oil less economical.
Although Thursday′s outcome didn′t come as a surprise, it will hurt non-OPEC exporters, like Russia which already faces Western sanctions over its role in Ukraine.
Connie Lee, Arirang News.
Title: Black Friday shopping frenzy hits Korea
Once exclusively an American holiday shopping tradition,... Black Friday has taken hold in many other countries, including Korea.
And for local retailers,... that means they have to come up with better offers to stop consumers from jumping online and taking their money overseas.
Kim Min-ji has more.
Winter sales in Korea are up and running.
But they came a couple of days early this year Why?
Because the American shopping day known as Black Friday, which falls on November 28th this year,... has also ignited a shopping extravaganza in Korea.
Afraid of losing out on potential customers during the spree,... local retailers are now offering their own "Black Friday" deals in hopes that customers will shop til they drop.
"Black Friday now represents a big

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