YON - Yonhap News Agency of Korea back issues from July 2009:
Government failing Yu.
Jul 01, 2009 ... (EDITORIAL from the JoongAng Daily on July 1) -- Three months have passed since a South Korean worker was detained at the Kaesong Industrial Complex in North Korea. Amnesty International called on its members around the world to work for the release of the worker, named Yu, and two ...
Controversial River Project Opaque, Rough-and-Ready Approach Cannot Calm Concerns.
Jul 01, 2009 ... (EDITORIAL from the Korea Times on July 1) -- President Lee Myung-bak declared Monday he would no longer stick to his problematic election pledge to build a cross-country waterway. Noting that the ``core'' of the so-called grand canal project was to connect the nation's largest rivers, Lee ...
Rice cake politics.
Jul 01, 2009 ... (EDITORIAL from the Korea Herald on July 1) -- "Don't you representatives blame, deride or pick on each other. Is fighting your job? Couldn't you give us tired working people even once something that pleases our ears?" This stern admonition to politicians regardless of party affiliation ...
Fitch team to visit S. Korea for economic assessment next week.
Jul 01, 2009 ... SEOUL, July 1 (Yonhap) -- Global credit appraiser Fitch Ratings said Wednesday that it will send a delegation for its annual visit here to assess the nation's economic conditions. The delegation including two members of its sovereign team -- James McCormack and Ngiam Ai Ling -- will arrive ...
President Lee calls for people-friendly policy.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- President Lee Myung-bak called on his ministers Tuesday to better look out for ordinary citizens, noting the success or failure of a government policy may well depend on public sentiment. "The people may feel neglected if the government only stresses economic ...
Kaesong industrial park can be vehicle for opening up N. Korea: Chinese scholar.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- A joint industrial complex could serve as a viable vehicle to open up North Korea as South Korea and the international community try to change its aggressive behavior, a Chinese scholar suggested Tuesday. "Why does North Korea behave in a way that is difficult to ...
(2nd LD) S. Korea, Thailand agree to launch joint world expo next year.
Jul 01, 2009 ... BANGKOK, June 30 (Yonhap) -- South Korea and Thailand agreed Tuesday to launch a 50-day joint world culture expo in Bangkok next year to promote bilateral friendship and cooperation and publicize the historic cultures of the two nations. Kim Kwan-yong, visiting governor of South Korea's ...
N. Korean fishing boat returns after intrusion into S. Korean waters.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- A North Korean fishing boat crossed into the South Korean side of the western sea border due to poor visibility Tuesday, staying more than two hours before being towed back to the North Korean side, South Korea's Joint Chiefs of Staff said. The intrusion took ...
Korean chili paste, bean paste, ginseng receive int'l recognition.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's traditional chili paste, fermented bean products and ginseng-derived goods have received recognition as distinct foods by an international standard-setting commission, the government said Tuesday. The Ministry for Food, Agriculture, Forestry and ...
Festivals Calendar - July 2009.(Calendar)
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- The following are the major cultural and tourist festivals to be held in South Korea in July. * Puchon International Fantastic Film Festival When: July 16-26 Where: Bucheon, Gyeonggi Province The 2009 Puchon (Bucheon) International Fantastic Film ...
Political parties continue to clash over irregular workers bill.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- The ruling and opposition parties remained at loggerheads Tuesday, possibly heading for a physical clash over a government-backed revision of the law on non-regular workers. The main opposition Democratic Party (DP) blocked the entrance to the main hall of the ...
KDB wants Kumho to auction off stake in Daewoo Engineering.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- The Korea Development Bank (KDB) said Tuesday it wants Kumho Asiana Group to sell its 50 percent stake plus one share in Daewoo Engineering & Construction Co. through open bidding. The state-run lender is the main creditor of Kumho Asiana Group, which said Sunday ...
Seoul shares end 0.12 pct higher on U.S. gains.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korean stocks closed 0.12 percent higher Tuesday as investor sentiment was underpinned by overnight gains in U.S. markets amid rising prospects for an economic recovery, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea ...
N. Korea offers non-governmental meeting with S. Korea.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- North Korea has proposed a rare non-governmental meeting with a South Korean organization to discuss joint projects amid chilled ties, activists in Seoul said Tuesday. The North Korean Committee for the June 15 Joint Declaration, which was established after the ...
S. Korea to adopt new product quality mark.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea will introduce a new product certification mark to help consumers buy safe, quality products, the government said Tuesday. The Korea Certification or "KC" mark will replace 13 existing product identification labels and markings issued by five ...
S. Korea's industrial output shrinks 9 pct in May.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's industrial output shrank in May from a year earlier as demand in the automobile and machinery sectors declined amid sluggish overseas markets, a government report showed Tuesday. According to the report by the National Statistical Office (NSO), ...
Kia workers start partial strike for higher pay.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- Unionized workers at Kia Motors Corp., South Korea's second-largest carmaker, launched Tuesday a partial strike for higher pay and better working conditions, the union said. Workers laid down tools for four hours at three plants after seven sessions of talks with ...
Samsung sees better second-half on improved demand for mobile phones.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's Samsung Electronics Co. is expected to see stronger results in the second half of this year as the global mobile phone market is improving, a company executive said Tuesday. "We are yet to release how many (handset) units we have sold in the second ...
Japanese envoy defends U.N. chief, says criticisms 'inaccurate'.
Jul 01, 2009 ... NEW YORK, June 30 (Yonhap) -- Japan's ambassador to the United Nations defended U.N. chief Ban Ki-moon against criticism from several media outlets about his low-profile leadership, claiming that Ban's "quiet diplomacy" is more effective in the long term. "Critical comments by Western ...
S. Korea, Japan to hold joint relief drill in East Sea: navy.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- The navies of South Korea and Japan will hold a joint biennial relief exercise in the East Sea, starting this week, the Navy said Tuesday. The Search and Rescue Exercise, or SAREX, will take place in the waters between the South Korean islets of Dokdo and Japan's ...
S. Korean builders' overseas orders halve in H1.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korean builders' overseas orders halved in the first six months of the year from a year earlier due to a tumble in demand especially from the Middle East and Asia, market watchers said Tuesday. The builders won orders worth a combined US$12.9 billion from ...
German insurer ERGO eyes expansion in Korean market.
Jul 01, 2009 ... DUSSELDORF, Germany, June 30 (Yonhap) -- German insurer ERGO Insurance Group is hoping to expand in the Korean non-life insurance market by selling a product next year that provides coverage for litigation costs, its chief said Tuesday. Dusseldorf-based ERGO, founded in 1997, is Europe's ...
Standard Chartered launches holding firm in S. Korea.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- Standard Chartered Plc launched a financial services company in South Korea on Tuesday, becoming the first foreign lender to do so in Asia's fourth-largest economy. London-based Standard Chartered received regulatory approval from the Korean government on June 17 ...
Navy boats decommissioned with battlefield records.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's Navy said Tuesday it retired a pair of patrol boats that have destroyed a North Korean submarine and a spy ship since being commissioned in the 1980s. The Donghae, commissioned in 1983, took part in a naval campaign that destroyed a North Korean ...
S. Korea, Tunisia to promote cultural ties, student exchange program.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea and Tunisia agreed Tuesday to boost student exchanges and other cultural ties as the two nations mark the 40th anniversary of the establishment of diplomatic relations this year, according to Seoul's foreign ministry. Foreign Minister Yu Myung-hwan ...
S. Korea's manufacturing sentiment rises for Q3.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korean manufacturing sentiment rose considerably for the third quarter of this year amid signs of improving economic conditions, a government poll showed Tuesday. The business survey index (BSI) for manufacturing companies rose to 108 for the July-September ...
N. Korea enriching uranium as leader's health may be relapsing: S. Korea.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- North Korea appears to be "definitely" pressing ahead with uranium enrichment that would give it another means to build nuclear arms, South Korea's defense chief said Tuesday. Defense Minister Lee Sang-hee also said in a parliamentary hearing that recent outside ...
S. Korea trying to facilitate deployment of Lebanon peacekeepers.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea is pushing to facilitate the deployment of its peacekeeprs in Lebanon by lengthening intervals at which the government is mandated to seek approval for extensions by the National Assembly. The government is required to receive parliamentary approval ...
Next year's minimum wage to rise 2.75 percent.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- A tripartite committee consisting of labor, management and government representatives decided on Tuesday to raise the country's minimum wage by 2.75 percent next year, the lowest increase in over 10 years. The Minimum Wage Council said representatives of the ...
Amnesty calls for 'urgent action' for S. Korean worker detained in N. Korea.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- Amnesty International urged its members around the world to send appeals to North Korean leader Kim Jong-il to release a South Korean worker who has been detained incommunicado for months. The London-based rights watchdog called for "urgent action" over the South ...
Goldberg likely to focus on consultations with China: officials.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- A U.S. official appointed to oversee enforcement of North Korea sanctions is expected to focus on consulting with Chinese officials during his upcoming Asia trip, diplomats here said Tuesday. They added he and his delegation are not likely to visit Seoul or Tokyo ...
S. Korea' export fall to ease in Q3: state bank.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korean exports are expected to drop at a slower rate in the third quarter than three months earlier amid rebounding economic activities, the nation's state trade bank said Tuesday. According to a report by the Export-Import Bank of Korea (Eximbank), Korea's ...
S. Korea needs to enhance fiscal soundness: finance minister.
Jul 01, 2009 ... SEOUL June 30 (Yonhap) -- South Korea's fiscal status remains "comparatively better" than other advanced nations despite massive economic-bolstering measures, but the government must keep working to improve its soundness to brace for increased public spending, Seoul's top economic ...
S. Korea wary of toughening home-loan rules.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea will take a cautious approach toward strengthening rules for home-backed loans despite escalating concern over a possible housing bubble, the top financial regulator said Tuesday. In a desperate effort to find revenue sources amid a deep economic ...
Art market holds up despite economic downturn.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- Seoul Auction, South Korea's second-largest art auction house, sold off 75 percent of artworks offered during its second major auction this year, proving that the local art industry is doing surprisingly well amid the ongoing economic downturn, company officials ...
Seoul shares up 0.8 pct in late morning.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korean stocks traded 0.8 percent higher late Tuesday morning as investor sentiment was bolstered by overnight gains in U.S. markets amid hopes for an economic recovery, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 11.17 ...
S. Korea's pension fund revises investment plan for this year.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's national pension fund said Tuesday that it will lower the ratio of its domestic equity investment this year, while expanding the ratio of its bond exposure. The equity investment ratio will be pared to 15.2 percent this year from an earlier targeted ...
S. Korea to send new destroyer to Somali anti-piracy campaign.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea announced Tuesday it will deploy a 4,500-ton destroyer to Somali waters in mid-July to replace one that has operated there under a U.S.-led multinational anti-piracy campaign since April. The Dae Jo Yeong will depart on July 16 and is expected to join ...
Early ratification of KORUS FTA to help overcome economic downturn: ministry.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- South Korea's finance ministry said Tuesday that an early ratification of a pending free trade deal with the United States is important in helping Asia's fourth-largest economy overcome the current economic slump. In a report, the ministry said the government ...
Six S. Korean films invited to Karlovy Vary film fest.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- Six South Korean films including the Cannes-winning "Thirst" have been invited to an upcoming Czech film festival, local film officials said Tuesday. Park Chan-wook's "Thirst," which grabbed the Jury Award at this year's Cannes, Bong Joon-ho's "Mother" and Yang ...
S. Korean advance team heads to joint park for talks with North.
Jul 01, 2009 ... SEOUL, June 30 (Yonhap) -- A South Korean advance team traveled to North Korea on Tuesday to prepare for a third round of talks over a troubled joint industrial park amid growing signs of financial strain on the businesses there. The talks on Thursday will center on North Korea's demands ...
Choo's unfair tactics.
Jul 02, 2009 ... (EDITORIAL from the JoongAng Daily on July 2) -- Regardless of the issue at hand, key legislation that is submitted to the National Assembly should be discussed at a standing committee. Through this process, political parties have a chance to reach a compromise on the legislation and ...
Rule of law: Korea should learn from Madoff's 150-year sentence.
Jul 02, 2009 ... (EDITORIAL from the Korea Times on July 2) -- It is hard for South Koreans to understand how U.S. courts often hand down prison terms of more than 100 years to criminals. The latest American case was the trial of Bernard Madoff, a 71-year-old swindler who orchestrated one of Wall Street's ...
Long-term perspective.
Jul 02, 2009 ... (EDITORIAL from the Korea Herald on July 2) -- The renewed effort by the government, the Blue House and the ruling Grand National Party to cut household spending on cram schools is welcome news for families who are finding the costs of such extra lessons increasingly burdensome. President ...
South, North Korea to meet again over joint park.
Jul 02, 2009 ... SEOUL, July 2 (Yonhap) -- South and North Korea were set to hold a third round of talks over a joint venture later Thursday in a bid to narrow differences over rent and wages and the fate of a detained worker. The economic talks are being held as North Korea faces tightening financial U.N ....
S. Korea's FX reserves hit 9-month high in June.
Jul 02, 2009 ... SEOUL, July 2 (Yonhap) -- South Korea's foreign exchange reserves rose to a nine-month high in June as foreign currency liquidity conditions improved and investment profits gained, the central bank said Thursday. The nation's foreign reserves totaled US$231.73 billion as of the end of ...
(Yonhap Interview) Hanawon center, a litmus test for how Koreas can unite.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korea has come a long way since it opened a resettlement center for North Korean defectors a decade ago, but there is still much left to do, the head of the center said Wednesday. Hanawon, meaning the "House of Unity" and located just south of Seoul, is the ...
S. Korea announces success in rainmaking.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korea's weather agency said Wednesday it has successfully conducted an experiment to artificially make rain for the first time in the country. A plane seeded clouds over a man-made reservoir and a ski resort, about 200km east of Seoul, on March 30, inducing ...
S. Korea confirms 16 additional flu cases.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korean health authorities said Wednesday they have confirmed 16 additional type-A flu cases, including two foreigners, bringing the total number of infections here to 226. The new patients, including one American and one Indonesian citizen, tested positive ...
Samsung Group's 2008 sales top 200 tln won.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- Samsung Group, South Korea's top family-controlled conglomerate, saw its sales exceed the 200 trillion won (US$158 billion) mark for the first time in 2008, data showed Wednesday. Total revenue of the group's 47 nonfinancial domestic subsidiaries, 164 nonfinancial ...
(2nd LD) N. Korean rocket could potentially hit half the U.S.: American scientists.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- The long-range rocket North Korea launched in April could be converted into a ballistic missile capable of striking half of the continental U.S., two American physicists have concluded in a joint study. North Korea launched on April 5 what it claims was a rocket ...
(2nd LD) S. Korea's consumer prices rise 2 pct in June: gov't report.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korea's consumer prices grew at the slowest pace in 22 months in June, easing concerns that inflation could hamper an economic recovery bolstered by government spending, a report showed Wednesday. According to the report by the National Statistical Office, ...
Tax cuts help car sales in S. Korea jump 46 pct in June.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- Auto sales in South Korea jumped 46.2 percent in June from a year earlier, thanks to the government's tax cuts to spur demand, according to data released by the nation's five automakers Wednesday. The five carmakers, led by Hyundai Motor Co. and its affiliate Kia ...
President Lee calls for national unity against N. Korea.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- President Lee Myung-bak called on his country Wednesday to unite against North Korea's nuclear and military threats, saying domestic divisions and confrontation can do far more damage than North Korean weapons do. "What is more dangerous than threats from outside ...
(2nd LD) Ruling party submits disputed labor bill to parliament.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- In a blitzkrieg-like move, the ruling Grand National Party (GNP) on Wednesday presented a bill that may decide the fate of tens of thousands of non-regular workers to a parliamentary committee after days of talks with the opposition parties failed to produce an ...
Seoul shares end 1.55 pct higher on financial gains.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korean stocks closed 1.55 percent higher Wednesday as investors scooped up financial shares amid rosy prospects for their second-quarter earnings, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index ...
S. Korean president to attend G-8 summit, visit Poland, Sweden.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korean President Lee Myung-bak will embark on a three-nation trip to Europe next week to attend the extended G-8 conference and make official visits to Poland and Sweden, the presidential office Cheong Wa Dae said Wednesday. Lee will head to Warsaw, the ...
China terminates antidumping duties on South Korean newsprint papers.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- China has lifted its 10-year antidumping duties on newsprint papers made by South Korean companies, Seoul's trade ministry said Wednesday. With the move, South Korea's exports of newsprint papers to the neighboring country are expected ...
Hyundai Motor's auto sales rise 9.6 pct in June.(Financial report)
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- Hyundai Motor Co., South Korea's largest automaker, said Wednesday its auto sales last month rose 9.6 percent from a year ago to 278,485 units, thanks to growing demand ...
Eximbank plans to sell global bonds this month.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korea's state-owned trade bank plans to sell foreign currency denominated bonds this month amid an easing of the global financial turmoil, its chief said Wednesday. In January, the Export-Import Bank of Korea (Eximbank) issued US$2 billion worth of bonds to ...
Ssangyong Motor's auto sales plunge 97.1 pct in June.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- Ssangyong Motor Co., which has been under bankruptcy protection since February, said Wednesday its vehicle sales last month plunged 97.1 percent from a year ago, hit by a prolonged strike by dismissed workers. Ssangyong sold a mere 217 cars last month, with ...
(2nd LD) S. Korea's trade surplus surges to record US$7.4 bln in June.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- South Korea's trade surplus reached a record US$7.4 billion in June due mainly to a sharp drop in imports caused by a slump in the local economy, a government report showed Wednesday. The country's exports came to $33 billion last month, decreasing 11.3 percent ...
S. Koreans' life insurance coverage grows at slowest pace in 16 years.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- The gross amount covered by life insurers in South Korea grew at the slowest rate in 16 years last year as the number of new insurance policy holders dropped and existing holders canceled their contracts amid an economic slum, data released by a trade association ...
U.S. delegation to brief China on N. Korea's illegal activities: officials.
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- A U.S. official in charge of coordinating sanctions on North Korea is expected to inform the Chinese government of Pyongyang's illicit activities and Washington's plan to implement U.N. sanctions, officials here said Wednesday. The aim is to get Beijing to review ...
Kia Motors posts 23.2 pct gain in June sales.(Financial report)
Jul 02, 2009 ... SEOUL, July 1 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Wednesday its vehicle sales last month rose 23.2 percent from a year earlier to 143,417 units, helped by an uptick in local demand fueled by tax benefits. Last month, Kia's domestic sales ...