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Ministry eases passport rules

PoliticsMay 9, 2011

...uations about our intention. Therefore, we have decided to give a grace period to first-time offenders to prove that we do not target anyone,” a ministry official told the Yonhap news agency. The revision has been approved by the Prime Minister’s Office and the Foreign Ministry is fine-tuning the draft, authorities said, before it is enforced from July. By Bae Ji-sook ( baejisook@heraldm.com )
Lee offers to resign as leader of minority LFP

PoliticsMay 9, 2011

...e minority Liberty Forward Party, has turned in his resignation in the hope of overcoming the party’s prolonged political stagnation. “I am stepping down to give way to changes in our party,” Lee sai...ion party,” he said. “For this, we first need to bring the Chungcheong area together as one.” Lee’s resignation comes as winds of change are blowing across the nation’s political landscape. This is ...
Police encouraged to use firearms in emergencies

Social affairsMay 9, 2011

... of drunkards or gangsters (who threaten lives), one needs to be bold enough to use the weapons,” Cho has reportedly said. He ordered police officers to always carry the gun, even in the office. Cho’s comment came as a video clip was released last week showing a police officer running out of the office when a drunken man threatened officers with a knife. Cho has reportedly scolded the officers fo...
Cyberspace tainted with racist postings

Social affairsMay 9, 2011

...s Korea still has a long way to go to establish a “mature” online culture. To maintain the country’s reputation for state-of-the-art Internet infrastructure, the Seoul government needs to make more e...rn Asian nations looked like drug dealers. He stressed that such messages could tarnish the nation’s image and hinder efforts to become one of the world’s top-tier nations. Korea is becoming increasi...
Medical spending may triple by 2020

Social affairsMay 9, 2011

...nistry seeks to dissuade patients from relying on top-tier hospitals More than 11 percent of Korea’s gross domestic product may be consumed by medical care in 2020, the Ministry of Health and Welfare... need to reform medical facilities nationwide. Snowballing medical expenses will burden the nation’s economy as the population ages, putting further pressure on the medical budget, the authorities sa...
Military strengthens protective facilities on border islands

PoliticsMay 9, 2011

The South Korean military is strengthening its protective facilities on the country’s five northwestern border islands with corrugated steel plates a military official said Monday. It has been bolstering its defense capabilities on the islands near the tense western sea border since the artillery attack on Yeonpyeong Island in November last year, killing two soldiers and two civilians. Addition...
Korea, Japan open working-level FTA talks

May 9, 2011

...n held director-general level talks on a bilateral free trade agreement in Seoul on Monday. Monday’s meeting was the second to be held by director-general level officials from the two countries since...ssues, and plans for establishing an environment suitable for reopening the FTA negotiations, Korea’s Trade Ministry said in a press release. The negotiations over a Korea-Japan FTA first got under w...
Telecom companies to jointly set up WiFi networks

IndustryMay 9, 2011

The wireless Internet connection through WiFi networks in public places is set to improve following joint efforts from the nation’s three telecommunication companies to set up more networks. Industry sources on Monday said the trio ― SK Telecom, KT Corp. and LG Uplus ― has already reached a consensus on the need to jointly establish networks at city halls, airports, train stations and government...
Business tycoons likely to miss FKI meeting

IndustryMay 9, 2011

... of Korean Industries’ executives has begun to fizzle as industry sources said chiefs of the nation’s top conglomerates are unlikely to attend. Samsung Electronics Chairman Lee Kun-hee, LG Group Chai...e meetings, and the attendance of the top corporate brass is considered to lend weight to the group’s influence. Samsung Electronics said Lee, who is campaigning for Seoul’s hosting of the 2018 Winte...
SK Chemicals aims for W3tr sales by 2015

IndustryMay 9, 2011

...n ($2.8 billion) in sales in 2015, chief executive Kim Chang-geun recently told his company, SK Chemicals said Monday. SK Chemicals is a pharmaceuticals and chemicals maker affiliated to the country’s third largest conglomerate, SK Group. The company currently holds the largest share of Korea’s market for vaccines. According to the company, Kim announced plans to increase sales generated from the company’s green chemicals business to 2 trillion won, and raise 1 trillion won from its life ...
Four financial groups may see 10 trillion won in profit

May 9, 2011

...tial loan losses ― thanks to recently changed accounting standards. From this year, all the nation’s listed companies are required to switch from a domestically accepted accounting norm to the locall...in asset soundness. Woori Financial is expected to pocket about 700 billion won from the bank unit’s sale of a stake in Hyundai Engineering & Construction. Shinhan Financial, which took the lead in ...
Ex-FSS, BOK officials on troubled banks’ payrolls

May 9, 2011

...a member of the State Affairs Committee in the National Assembly, said. It supports the government’s drive to reform the FSS, which has been hit by corruption and bribery scandals aimed at breaking t...cials on charges of bribery has also led President Lee Myung-bak to make a rare visit to the agency’s Wednesday, where he described the problem as “chronic corruption.” The Prime Minister’s Office on...
LVMH gains, Gucci declines in brand value

IndustryMay 9, 2011

Louis Vuitton, the French maker of laminated canvas handbags, is the world’s most valuable luxury brand for the sixth consecutive year, a research group said. The brand, owned by Paris-based LVMH Mo...the combined values of Hermes, Gucci and Chanel, which ranked second, third and fourth in this year’s luxury-brand standings. Vuitton’s value amounts to almost 28 percent of LVMH’s current market cap...
Obama: Bin Laden had support network

World NewsMay 9, 2011

U.S. urges Pakistan to investigate helper WASHINGTON (AP) ― Osama bin Laden benefited from “some sort of support network” inside Pakistan, President Barack Obama said in a Sunday broadcast interview...twork’s local affiliates around the country ― and another one requesting donations to the president’s re-election effort. Donilon appeared on ABC, NBC, CNN and Fox. Lugar was on CNN, and Kerry spoke ...
Church burning deepens tumult of Egypt’s post-revolution transition

World NewsMay 9, 2011

Inter-faith violence kills 12 and injures more than 100 CAIRO (AP) ― Relations between Egypt’s Muslims and Christians degenerated to a new low Sunday after riots overnight left 12 people dead and a ...me, ultraconservative movement of Muslims known as Salafis, whose increasing hostility toward Egypt’s Coptic Christians over the past few months has met with little interference from the country’s mil...