North Korea test-fires 4 missiles
North Korea test-fired four short-range missiles on Thursday, a South Korean Defence Ministry spokesman said.
Early Thursday evening, the ministry said, North Korea had test-fired two short-range missiles.
"One was fired at 5:20 p.m. and the other at 6 p.m. from Sinsang-ni," the Yonhap news agency quoted South Korean Defence Ministry spokesman Won Tae-jae as saying. Sinsang-ni is a North Korean town near the eastern coastal city of Wonsan.
Yonhap reported that the missiles appear to be of the surface-to-ship variety. The report contained few other details. ...
English club wants Lee Chung-yong
Premier League club Bolton Wanderers are keen to sign midfielder Lee Chung-yong of FC Seoul, according to news reports.
The Korean winger's negotiator Ti Sports revealed that Bolton had sent a scout to watch him playing for his national squad during Asian qualifiers for the 2010 Word Cup.
"However nothing has been discussed at this stage," Lee’s agent was quoted as saying. ...
S. Korea seeks expansion of peaceful nuclear activity
South Korea wants to expand its peaceful nuclear program for commercial gains, South Korea's top diplomat said Thursday, signaling tough and lengthy negotiations lie ahead with its key ally, the United States, which says there is no need for Seoul to have the right to reprocess spent fuel, according to Yonhap News.
Foreign Minister Yu Myung-hwan said that the Seoul-Washington nuclear cooperation agreement should be revised to allow for more activity, as it expires in 2012.
South Korea has several nuclear power plants but it is banned from reprocessing spent fuel under the 1974 agreement with the U.S. ...
Foreign cash reserves hit 9-month high
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 yesterday.
The nation’s foreign reserves totaled $231.73 billion as of the end of June, up $4.96 billion from the previous month, according to the Bank of Korea.
They climbed to the highest level since September last year when the corresponding figure reached $239.67 billion, the BOK added. The FX reserves rose for the fourth straight month in June and they increased by a record $14.29 billion in May. ...
North Korean food need 'critical'
North Korea is facing a "critical" food shortage, especially for children, the UN's food agency has said.
The World Food Programme's director for North Korea said the agency was unable to reach millions of North Koreans due to a shortfall in funding.
The director, Torben Due, said the WFP had received no new donations for North Korea since Pyongyang conducted a nuclear test in May.
He also said Pyongyang had barred the WFP from using Korean-speaking staff.
North Korea had given no reason for that decision, he added.
Mr Due told reporters in Beijing that the WFP had received only 15% of an international appeal for $504m (£306m) and had to cut back plans to provide food aid to 6.2 million North Koreans to 2.27 million.
Vicious circle ...
China Eyes Rural Korean Area for Biz Stronghold
The Chinese government is working hard to create a manufacturing center for Chinese companies and a Chinese commercial district in Muan, South Jeolla Province, a farming region in the southwestern part of the country.
China's Chongqing city and Shandong Province are spearheading the investment drive, while nearly 300 Chinese businesses, including automaker Sinotruck and the country's fifth-largest home appliance maker Hisense Group, have expressed intentions to set up facilities in Muan.
The 17.73 million sq. m Korea-China international industrial complex will include a manufacturing zone, a Chinese commercial district and an international university. The project is planned for completion by 2025 at a cost of W1.76 trillion (US$1=W1,273). ...
Gov’t revives battle against hagwon
President Lee Myung-bak seems poised to involve himself more deeply in the controversy surrounding private education in Korea.
Under his leadership, the Ministry of Education and the ruling Grand National Party are set to release a “Road Map to Ease Private Education Costs” by the end of July, less than a month after the Education Ministry unveiled comprehensive measures to reduce household spending on hagwon, private educational institutes, the government said.
President Lee received a report yesterday from Education Minister Ahn Byong-man and Vice Minister Lee Ju-ho on the draft of the road map. ...
Will Apple’s iPhone Be Successful in Korea?
For South Korean tech geeks, the statute of limitations has clearly passed on being outraged over the iPhone's delayed debut in a country that claims to be the wireless capital of the world.
But it remains to be seen whether they are finally about to be rewarded for their patience, as industry sources believe Apple's do-it-all smart phone is nearing Korean shores.
There have been constant rumors about the iPhone's domestic release since last year, with KT, the country's No. 2 wireless carrier, engaging in talks with Apple to challenge the superior handset lineup of first-placed SK Telecom. ...
'Group Sex Club' Lands in Gangnam
A club in southern Seoul is causing a stir for its laissez-faire attitude to sex ― members purportedly engage in group sex, swap partners, while others enjoy drinks and watch them.
According to Gangnam Police Station, the club ― "Couple Theme Club" ― located in Nonhyeon-dong, is open to exclusive members of its Web site, which has temporarily been shut down due to soaring traffic.
As news circulated online, some netizens are calling for a crackdown on such a "decadent" club. But police say this is legally groundless. Legal experts are also divided in judging the legitimacy of such a "service."
To enter the membership club, visitors must pass security guards who check their membership and search their belongings, a measure to prevent them from bringing in cameras or camcorders. ...
Banks See Expatriates as Gold Mine
Korean banks have been bolstering their services for foreign customers to capitalize on the rising non-Korean population, which is estimated to have reached 1.1 million people, around 2 percent of the population. About 40 percent are Chinese-Koreans and 75 percent of the total work with a regular salary and visa.
The move comes as major local lenders are starting to change their attitude toward expats as they have seen the opportunity for this niche market growing, with the influx of educated and high-salaried foreigners over the past years.
Many local lenders provide expat-only services at some of their major branches staffed with English-speaking service agents. Many of them are also providing multi-lingual ATM services, and expats in Korea now have international ATM access to their cash. ...
Korean Wins U.S. Women's Amateur Golf Title
Korea may have yet another superstar in women's golf to cheer for. Twenty-year-old Jennifer Song, a former member of the Korean national team, won the 2009 U.S. Women's Amateur Public Links Championship at the Red Tail Golf Club near Boston on Sunday. In the 36-hole final, Song beat 18-year-old Korean-American Kimberly Kim by seven pars. Kim had to be satisfied with the runner-up spot for a second time, having finished second in 2006.
The WAPL, established in 1977 by the U.S. Golf Association, has a long association with Korean golfers. Korean-American Pearl Sinn grabbed the title two consecutive years in 1988 and 1989, and Michelle Wie rose to stardom in 2003 by becoming the youngest champion ever at the age of 14. Lee Eun-jung, then a student at the Daewon Foreign Language High School, was a surprise winner in 2005, and Korean-American Tiffany Joh claimed the title twice in 2006 and 2008.
Staying in Korea: '09 holiday trend
This year's summer holiday trend is expected to be staying in Korea, a survey has found.
The phenomenon dubbed as "staycation," a term combining "stay" and "vacation," refers to the propensity of holidaymakers taking a vacation close to home rather than going abroad, particularly because of the economic downturn.
The survey was conducted by SKTelink, a local international call services company, of 1,612 visitors to its home page between June 15 and 26. It found that 37 percent of them either had no holiday plans or just planned to stay at home. ...
Korea to adopt new product quality mark
Korea will introduce a new product certification mark to help consumers buy safe, quality products, the government said Tuesday, according to Yonhap News.
The Korea Certification or "KC" mark will replace 13 existing product identification labels and markings issued by five different ministries and agencies that have been cited for confusing consumers, the Korean Agency for Technology and Standards (KATS) said.
Existing product markings like "KS" and "KPS" are issued by the Ministry of Knowledge Economy through KATS, while labels for safety are issued by the labor ministry. The National Emergency Management Agency, the Broadcasting and Communications Commission and environment ministry also issue different certificates.
Tokyo and Seoul in sanctions call
Japan and South Korea have called for the latest United Nations sanctions against North Korea over its nuclear activities to be applied strictly.
New sanctions agreed by the UN Security Council this month include inspections of North Korean ships, a wider ban on arms sales and financial measures.
North Korea has said any search of its ships will constitute an act of war.
Its recent nuclear and missile tests, and aggressive language, have caused widespread concern in the region. ...
Stars Honor Jackson During BET Awards Show
Pop stars and musicians honored American pop icon Michael Jackson at the annual Black Entertainment Television (BET) Awards show in Los Angeles. Attendees at the event said they remain shocked by the singer's unexpected death.
In a statement read by a family representative during the late show Sunday, Jackson's parents said they have sole custody of the pop star's three children. Jackson's family ordered a private, second autopsy to figure out what caused his sudden death last Thursday at his Los Angeles home. No results have been released.
The Los Angeles County coroner's office conducted an autopsy Friday and said there were no indications of external trauma or foul play, but said it may take weeks to examine all the tests and determine the cause of death. ...
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