YON - Yonhap News Agency of Korea articles from April 2009

YON - Yonhap News Agency of Korea archives from April 2009

Too soon for optimism.
April 1, 2009... (EDITORIAL from the JoongAng Daily on April 1) -- A few of the nation's economic indicators are showing signs of recovery. According to data issued by the National Statistical Office on Monday, production in the mining and manufacturing...

Support for carmakers Self-rescue efforts should come first.
April 1, 2009... (EDITORIAL from the Korea Times on April 1) -- Buyers of new cars will enjoy up to 2.5 million won ($1,860) in tax cuts from May if they replace aging cars registered before Jan. 1, 2000. The tax incentives account for 70 percent of...

Softening stand.
April 1, 2009... (EDITORIAL from the Korea Herald on April 1) President Lee Myung-bak has clarified that he is against responding militarily to North Korea's test-firing of a long-range rocket. Speaking for the U.S. government, Secretary of Defense Robert Gates...

(2nd LD) Clinton warns of consequences from N. Korea's rocket launch.
April 1, 2009... WASHINGTON, March 31 (Yonhap) -- U.S. Secretary of State Hillary Clinton Tuesday warned of possible sanctions against North Korea for its proposed satellite launch, which the U.S. sees as a cover for a ballistic missile test. "We have said...

Lee, Brown call for joint efforts to fight global crisis, improve ties.
April 1, 2009... LONDON, March 31 (Yonhap) -- South Korean President Lee Myung-bak and British Prime Minister Gordon Brown agreed Tuesday to join efforts in the fight against the global financial crisis and pledged to increase bilateral cooperation on...

S. Korea looks to export nuclear reactors through joint venture.
April 1, 2009... SEOUL, April 1 (Yonhap) -- South Korea is seeking overseas buyers for indigenously made nuclear reactors through a joint venture arrangement with a leading British engineering company, the government said Wednesday. The joint venture between...

U.S. pledges quick solution to auto, other issues for FTA's approval.
April 1, 2009... WASHINGTON, March 31 (Yonhap) -- U.S. Trade Representative Ron Kirk Tuesday said that the administration will quickly address an imbalance in auto trade and other issues for early congressional ratification of the free trade deal with South...

U.S. not yet notified of N. Korea's plans to try American journalists: State Dept.
April 1, 2009... WASHINGTON, March 31 (Yonhap) -- The U.S. has not yet been notified of North Korea's plans to put on trial two American journalists caught on the Chinese border earlier this month, the State Department said Tuesday. "We've seen press reports...

N. Korea says U.S. sent spy jet over its rocket launch site.
April 1, 2009... SEOUL, March 31 (Yonhap) -- North Korea on Tuesday reported at least 190 cases of aerial espionage by the United States and South Korea in March, including flights over a northeastern region where a satellite launch is imminent. North Korea...

Kim Yu-na vows Olympic gold upon return home.
April 1, 2009... INCHEON, March 31 (Yonhap) -- Kim Yu-na, the world champion in women's single figure skating, said she will work hard to win gold in the Olympics next year as she returned home Tuesday to a hearty welcome by hundreds of adoring fans. Kim...

U.S. to change rules on S. Korean beef.
April 1, 2009... SEOUL, March 31 (Yonhap) -- The United States has officially taken steps to change South Korea's animal disease status, a move which will allow South Korea to export locally produced beef, the government said Tuesday. The Ministry for Food,...

Festivals Calendar - April 2009.(Calendar)
April 1, 2009... SEOUL, March 31 (Yonhap) -- The following are the major cultural and tourist festivals to be held in South Korea in April: * Yeongam Wangin Culture Festival When: April 4-7 Where: Yeongam, South Jeolla Province The festivasl began in...

Researchers developing artificial eardrums, human bone from silk.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korean researchers are close to developing artificial eardrums and bone from silk proteins that could spur local production of the material, a state-run laboratory said Tuesday. The National Academy of...

Parties agree to vote on extra budget bill in late April.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Ruling and opposition parties agreed Tuesday to vote on a government-proposed 28.9 trillion won (US$20.7 billion) extra budget bill late next month during an extraordinary parliamentary session. Representatives from...

N. Korea warns of military response should Japan intercept its satellite.
April 1, 2009... SEOUL, March 31 (Yonhap) -- North Korea will see any interception by Japan of its satellite launch as an act of invasion and respond with its "most powerful military means," the country's state news agency said Tuesday. "Should Japan dare...

S. Korea to host ODA forum in 2011.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korea was selected Tuesday to host a major international conference on development aid in 2011, receiving a boost to its campaign for a greater global role, the foreign ministry said. The 4th High-Level Forum...

Gov't aims to transform farm co-op into holding company by 2011.
April 1, 2009... SEOUL, March 31 (Yonhap) -- The government said Tuesday that it will transform the country's largest agricultural cooperative into economic and financial holding companies by 2011 to better meet the demands of local farmers and enhance...

S. Korean film festival finalizes lineup.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korea's Jeonju International Film Festival (JIFF) has completed its lineup, event organizers said Tuesday, expanding the fest's global reach as it marks its 10 year anniversary this year. Opening with "Short!...

Gov't to trim additional 3,000 jobs at public firms.
April 1, 2009... SEOUL, March 31 (Yonhap) -- The government said Tuesday that it will slash an additional 3,000 jobs at 60 small-sized public companies as part of its efforts to improve overall business efficiency in the public sector. The job reductions,...

All BOK policymakers vote for Feb. rate cut: minutes.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Policymakers at the Bank of Korea (BOK) voted unanimously to cut its key interest rate by half a percentage point in a bid to prop up the sharply slowing economy, according to its minutes released Tuesday. On Feb....

NHN to beef up mobile Internet service.
April 1, 2009... SEOUL, March 31 (Yonhap) -- NHN Corp., the operator of South Korea's top Internet portal Naver, said Tuesday it will strengthen its mobile Internet service in an effort to create a new profit model. NHN's mobile Web service, launched in July...

N. Korea warns of military response should Japan intercept its satellite.
April 1, 2009... SEOUL, March 31 (Yonhap) -- North Korea will see any interception by Japan of its satellite launch as an act of invasion and respond with its "most powerful military means," the country's state news agency said Tuesday. "If Japan dares to shoot...

Seoul stocks close 0.73 pct higher on retail buying.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korean stocks closed up 0.73 percent Tuesday as strong retail buying more than offset foreign sell-offs, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price...

'Bank fund' injects 4 tln won in capital into local banks.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korea's bank recapitalization fund injected Tuesday a combined 3.96 trillion won (US$2.86 billion) in capital to eight banks in a bid to encourage them to expand their lending, the financial watchdog said....

Prosecution widens corruption probe involving Roh's family.
April 1, 2009... SEOUL, March 31 (Yonhap) -- A growing graft scandal involving family members of former President Roh Moo-hyun broadened Tuesday as prosecutors began examining allegations against the son-in-law of Roh's elder brother. The investigation follows...

S. Korean JCS transforms in step with changing alliance with U.S.
April 1, 2009... SEOUL, March 31 (Yonhap) -- The South Korean Joint Chiefs of Staff (JCS) announced its plan Tuesday to set up a new high-level command dedicated to developing war strategies as it moves to assume greater operational control over its armed...

Two Iranians arrested for drug smuggling.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Two Iranians have been arrested for smuggling opium and other prohibited drugs valued at about 60 million won (US$43,500) into South Korea, police said Tuesday. An unidentified Iranian-Korean man and his Iranian...

Award-winning Korean director draws attention with vampire film.
April 1, 2009... SEOUL, March 31 (Yonhap) -- When South Korean award-winning movie director Park Chan-wook confided his idea of creating a vampire film in 1999 to actor Song Kang-ho, it was over breakfast after the two finished shooting scenes in a field of...

(2nd LD) N. Korea to try American journalists for illegal entry, hostile acts: KCNA.
April 1, 2009... WASHINGTON/SEOUL, March 31 (Yonhap) -- North Korea will put to trial two American journalists detained in a border region earlier this month on charges of illegal entry and hostile acts, the country's state news agency said Tuesday. The Korean...

Hyundai, Kia gain as U.S. automakers pressed to restructure.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. rose sharply Tuesday on speculation that their market shares in the U.S. may increase as U.S. President Barack Obama put more pressure on General Motors Corp. and...

S. Korea extends currency swap line with Japan.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korea has agreed to extend its currency swap facility with Japan by six months in an effort to ease financial market jitters, the Bank of Korea (BOK) said Tuesday. In mid-December, the BOK agreed with the Bank...

(2nd LD) South Korean F-16 fighter jet crashes in Yellow Sea, pilots survive.
April 1, 2009... SEOUL, March 31 (Yonhap) -- A South Korean F-16 fighter jet crashed Tuesday off the country's west coast during routine training, Air Force officials said. The pilots ejected and were rescued. The crash occurred at 12:20 p.m. about 40...

S. Korea's industrial output sinks 10.3 pct in Feb.
April 1, 2009... SEOUL, March 31 (Yonhap) -- South Korea's industrial output continued its double-digit contraction for a fourth straight month in February as demand for semiconductors and automobiles declined due to a deepening global recession, a government...

N. Korea to face Security Council over rocket launch amid differences: officials.
April 1, 2009... WASHINGTON, March 30 (Yonhap) -- South Korea, the U.S. and Japan will refer North Korea to the U.N. Security Council should it go ahead with a rocket launch, Seoul's nuclear envoy said Monday, but others noted the possibility of further...

Korea Exchange Bank shareholders approve new CEO.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Korea Exchange Bank (KEB), controlled by U.S. buyout fund Lone Star Funds, said Tuesday its shareholders approved the appointment of a new chief executive officer at an annual meeting. Larry A. Klane, 49, replaces...

Hyundai Heavy, two others vying for acquisition of Hyundai Corp.
April 1, 2009... SEOUL, March 31 (Yonhap) -- Hyundai Heavy Industries Co. and two other companies on Tuesday submitted preliminary bids for Hyundai Corp., a South Korean trading company, industry sources said. BNG Steel Co. and Q Capital Partners Co. also...

N. Korea begins fueling rocket for imminent launch: report.
April 2, 2009... WASHINGTON, April 1 (Yonhap) -- North Korea has begun fueling a rocket that carries a satellite at the launch pad of its northeastern base, CNN reported Wednesday, citing informed military sources. Pyongyang has said it will launch the...

Towering doubts.
April 2, 2009... (EDITORIAL from the JoongAng Daily on April 2) -- The government finally approved on Monday the construction of the second Lotte World. Because of safety concerns, it has taken 15 years to decide whether or not to green-light the 112-story...

Saving Global Economy: Nations Should Put World Ahead of Own Interests.
April 2, 2009... (EDITORIAL from the Korea Times on April 2) -- As leaders of the world's 20 largest economies gather in London today, expectations and concerns appear mixed in equal proportions. At stake is how soon they pull the global economy out of the...

No time to waste.
April 2, 2009... (EDITORIAL from the Korea Herald on April 2) -- The National Assembly convened an extraordinary session yesterday, putting to rest doubts about whether it would open as scheduled because of conflict between the ruling Grand National Party and...

Korea's foreign reserves rise to US$206.3 bln in March.
April 2, 2009... SEOUL, April 2 (Yonhap) -- South Korea's foreign exchange reserves rose by the largest monthly amount in over two years in March as a weaker U.S. dollar boosted the dollar value of assets in other currencies, the central bank said Wednesday....

(2nd LD) Obama rallies Chinese, Russian support to stop N. Korean rocket.
April 2, 2009... LONDON, April 1 (Yonhap) -- U.S. President Barack Obama solicited support from his Chinese and Russian counterparts Wednesday to dissuade North Korea from launching a rocket, calling it a serious threat to global peace. The U.S. president held...

Lee, Rudd say North Korean rocket a threat to world peace.
April 2, 2009... LONDON, April 1 (Yonhap) -- South Korean President Lee Myung-bak and Australian Prime Minister Kevin Rudd called on North Korea Wednesday to scrap its plan to launch a missile, saying it will seriously undermine world peace even if the launch...

(2nd LD) S. Korea beats N. Korea 1-0 in World Cup qualifier.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea managed a hard-fought 1-0 victory against North Korea in a World Cup regional qualifying match on Wednesday, jumping to the top of its pool with 11 points and a step closer to a berth in the finals. South...

Seoul, Tokyo agree to push for sanctions against N. Korean rocket.
April 2, 2009... LONDON, April 1 (Yonhap) -- South Korean President Lee Myung-bak and Japanese Prime Minister Taro Aso on Wednesday called on North Korea to halt its plan to fire a rocket or face fresh sanctions by the United Nations. The call came at a...

20 military doctors arrested over alleged golf outings.
April 2, 2009... SEOUL, April 1 (Yonhap) -- A total of 20 medical officers have been arrested over the past week on charges of playing golf during duty hours, the top South Korean military prosecutor said Wednesday. "Two more are likely to be arrested this...

N. Korean satellite same threat as missile: S. Korea defense chief.
April 2, 2009... SEOUL, April 1 (Yonhap) -- North Korea's impending rocket launch poses a threat to regional stability whether it is meant to carry a satellite or a warhead, South Korea's defense chief said Wednesday. "Whether it is a satellite or a missile,...

Japan says will push for U.N. sanctions if N. Korea fires rocket.
April 2, 2009... LONDON, April 1 (Yonhap) -- Japanese Prime Minister Tarso Aso on Wednesday said his country will push for new U.N. sanctions against North Korea along with the United States and Britain if the communist nation launches a rocket. Pyongyang has...

Lotte not to enter main bid for Oriental Brewery.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Lotte Group, a South Korean retail and beverage conglomerate, said on Wednesday that it will not try again to acquire local beer giant Oriental Brewery Co., without elaborating on the decision. "We have decided not to...

S. Korean F-16 crashed after spinning out of control: pilots.
April 2, 2009... SEOUL, April 1 (Yonhap) -- The South Korean F-16 fighter jet that crashed off the country's west coast this week malfunctioned before tumbling into the waters, an Air Force commander said on Wednesday, quoting its pilots. The dual-pilot...

Gov't to help unemployed become farmers.
April 2, 2009... SEOUL, April 1 (Yonhap) -- The government said Wednesday that it will provide 150 billion won (US$110 million) to help people laid off from work to relocate to rural neighborhoods and become farmers. The Ministry for Food, Agriculture, Forestry...

GM Daewoo to cut wages by 10 pct.
April 2, 2009... SEOUL, April 1 (Yonhap) -- GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., plans to cut the pay of its production workers by 10 percent and sell two repair centers here amid financial difficulties, industry...

S. Korean president seeks support for open trade, N. Korea policy.
April 2, 2009... LONDON, April 1 (Yonhap) -- South Korean President Lee Myung-bak continued to seek support for an anti-protectionist accord Wednesday ahead of the G-20 economic summit while also pushing for a unified front against North Korea's suspected...

Lee, Obama to hold bilateral talks on economy, N. Korea.
April 2, 2009... LONDON, April 1 (Yonhap) -- South Korean President Lee Myung-bak and his U.S. counterpart Barack Obama are set for their first bilateral meeting Thursday ahead of the G-20 economic summit here as North Korea is moving to launch a rocket that...

S. Korean forestry cooperative to plant trees in Indonesia.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea's forestry cooperative said Wednesday that it will plant trees on 100,000 hectares of land in Indonesia, offsetting carbon emissions and also securing future rights to the timber. The arrangement is part...

Samsung retains top spot in U.S. LCD TV market.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Samsung Electronics Co. remained the top seller of liquid crystal display (LCD) TVs in the United States in the first two months of this year, far outstripping Sony Corp., a market researcher said Wednesday. Samsung...

Two Korean artists to be introduced at Venice Biennale.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Two South Korean artists will be featured in main exhibition of this year's Venice Biennale, the event's Web site said Wednesday. Yang Hae-gue, 38, and Koo Jeong-ah, 41, have been selected for the lineup of 90 artists...

Shinhan Bank plans to contribute capital to bad bank.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Shinhan Bank, South Korea's No. 2 lender, said Wednesday it plans to contribute capital to an envisioned private bad bank which will be charged with buying distressed loans. Local lenders plan to set up the bad bank...

Rocket launch likely to cost N. Korea US$500 million: think tank.
April 2, 2009... SEOUL, April 1 (Yonhap) -- North Korea may have spent nearly US$500 million to build the long-range rocket it plans to launch within days, the head of a Seoul-based think tank said Wednesday, citing leader Kim Jong-il's remarks on a previous...

Seoul stocks end up 2.25 pct on recovery hopes.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korean stocks closed 2.25 percent higher Wednesday as investors scooped up carmakers and banks on hopes of an economic recovery, analysts said. The local currency rose against the U.S. dollar. The benchmark...

Acclaimed pianist to craft marvel at second Seoul recital.
April 2, 2009... SEOUL, April 1 (Yonhap) -- First laying hands on the clavier at the age of two and rising to international stardom by the time he was 10, Russian pianist Evgeny Kissin was praised as a child prodigy by music critics and devotees around the...

Payment to Roh's in-law made for investment purposes: aide.
April 2, 2009... BUSAN, April 1 (Yonhap) -- A close confidant to former President Roh Moo-hyun said on Wednesday that the US$5 million delivered from a disgraced businessman to an in-law of Roh's was made for legitimate investment purposes, playing down...

Samsung aims to boost U.S. cellphone market share.
April 2, 2009... LAS VEGAS, March 31 (Yonhap) -- Samsung Electronics Co., the world's second-largest maker of cellphones, is aiming to cement its leading position in the U.S. mobile phone market this year, a company executive said Tuesday. Unseating Motorola...

S. Korea's March auto sales drop 18.7 pct.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korean automakers reported an 18.7 percent drop in sales for March as the global economic crisis wilted demand for their vehicles, according to the companies Wednesday. The results also suggest that domestic...

N. Korea says it will shoot down U.S. spy jets flying over rocket launch site.
April 2, 2009... SEOUL, April 1 (Yonhap) -- North Korea warned Wednesday it will shoot down any U.S. spy jets entering its airspace, blasting U.S. aerial espionage over a northeastern base where it plans to launch a rocket. The North regularly publishes its...

President calls on parliament to approve extra budget as drafted.
April 2, 2009... SEOUL, April 1 (Yonhap) -- President Lee Myung-bak on Wednesday urged the National Assembly to approve without change the government-proposed 28.9 trillion won (US$20.7 billion) supplementary budget bill aimed at shoring up the nation's sagging...

S. Korea's consumer prices rise 3.9 pct in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea's consumer prices grew at a slower pace in March than in the previous month as the cost of oil products declined, a government report showed Wednesday. According to the report by the National Statistical...

Hyundai Motor's vehicle sales drop 9.8 pct in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, said Wednesday its vehicle sales fell 9.8 percent last month, hit by sluggish demand at home and overseas. Hyundai sold 233,443 units in March, with domestic sales...

(2nd LD) S. Korea's trade surplus hits record US$4.6 bln in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea's trade surplus reached a record US$4.6 billion in March mainly due to a sharp drop in imports and a surge in exports of ships, a government report showed Wednesday. The country's exports reached $28.3...

Ssangyong Motor's auto sales plunge 75.7 pct in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Ssangyong Motor Co., South Korea's smallest automaker, said Wednesday its vehicle sales plunged 75.7 percent last month, as consumers shunned purchase of the potentially bankrupt company's vehicles. Ssangyong, which...

S. Korea posts trade surplus for kimchi.
April 2, 2009... SEOUL, April 1 (Yonhap) --South Korea posted a trade surplus of US$5.5 million for kimchi in the first two months of the year thanks to solid gains in exports, a state-run corporation said Wednesday. The Agro-Fisheries Trade Corp. said exports...

Kia Motors reports 7.9 pct decline in March sales.(Financial report)
April 2, 2009... SEOUL, April 1 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Wednesday its auto sales fell 7.9 percent last month due to weak overseas demand. Kia, a unit of Hyundai Motor Co., sold a total of 111,542 units last...

GM Daewoo's vehicle sales dip 48.5 percent in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., said Wednesday its auto sales plunged 48.5 percent in March, hit by weaker demand. GM Daewoo sold a total of 44,957 units last month,...

Renault Samsung's vehicle sales plunge 44.8 pct in March.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Renault Samsung Motor Co., the South Korean unit of French automaker Renault SA, said Wednesday its vehicle sales dived 44.8 percent last month amid sluggish demand. Renault Samsung sold a total of 10,163 vehicles in...

S. Korean president calls for unified front against financial crisis.
April 2, 2009... LONDON, April 1 (Yonhap) -- South Korean President Lee Myung-bak called on world leaders Wednesday arriving here for the G-20 summit to join their efforts to deal with what he earlier termed the "impaired assets" that caused the global...

N. Korea detains S. Korean worker for 3rd day with no outside access.
April 2, 2009... SEOUL, April 1 (Yonhap) -- North Korea was holding a South Korean worker for a third day for allegedly denouncing its political system, a Seoul spokesperson said Wednesday, raising concerns his detention may be prolonged. The North ignored...

GM, Chrysler shun Seoul Motor Show.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Beleaguered U.S. automakers General Motors Corp. and Chrysler LLC shunned this week's Seoul Motor Show, organizers said Wednesday, as they are struggling with record losses and few signs of a recovery in the global...

S. Korea launches Web site for June ASEAN summit.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea's foreign ministry said Wednesday that it has launched a Web site to provide detailed information on an upcoming summit with Southeast Asian nations in early June. Under the slogan, "Partnership for Real,...

Seoul stocks up 2.19 pct in late morning.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korean stocks jumped 2.19 percent late Wednesday morning as carmakers and banks surged on economic recovery hopes, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 26.42 points to...

German university to set up graduate school, lab in Busan FEZ.
April 2, 2009... SEOUL, April 1 (Yonhap) -- A German university will set up a graduate school and engineering laboratory in Busan that could help the port city in the country's far south become a regional business hub, the government said Wednesday. The...

Majority of S. Koreans support U.S. trade pact: survey.
April 2, 2009... SEOUL, April 1 (Yonhap) -- More than half of South Koreans say lawmakers should ratify a landmark free trade agreement with the United States to help boost the nation's exports that have been battered by the global economic crisis, a survey...

Overreaction to N. Korea's rocket launch may trigger war: think tank.
April 2, 2009... SEOUL, April 1 (Yonhap) -- Regional powers should not overreact to North Korea's firing of a long-range rocket, as a tough response would likely result in the demise of the six-way talks on its nuclear program and even risk a war, an...

Top financial regulator urges banks to increase loans.
April 2, 2009... SEOUL, April 1 (Yonhap) -- South Korea's top financial regulator called on local banks Wednesday to expand lending in a bid to help the country weather the worst economic slowdown in a decade. "The watchdog will monitor lenders' monthly lending...

Parliament opens extra session on supplementary budget, pending bills.
April 2, 2009... SEOUL, April 1 (Yonhap) -- The National Assembly opened an extraordinary session on Wednesday with rival parties expected to once again lock horns over a government-proposed 28.9 trillion won (US$20.7 billion) supplementary budget bill. The...