YON - Yonhap News Agency of Korea articles from December 2007

YON - Yonhap News Agency of Korea archives from December 2007

Environment groups welcome WTO proposals on fishing subsidies affecting Korea, others.
December 1, 2007... WASHINGTON, Nov. 30 (Yonhap) -- A leading maritime environmental protection group on Friday welcomed the proposals at the World Trade Organization (WTO) on limiting fisheries subsidies that countries like South Korea give and allegedly promote...

N.K. nuclear disablement proceeding as scheduled: U.S.
December 1, 2007... WASHINGTON, Nov. 30 (Yonhap) -- North Korea's nuclear disablement is proceeding as scheduled and is expected to be achieved by the end of this year, U.S. State Department spokesman said Friday. "I've heard nothing (to) indicate that they won't...

N. Korea, China agree on cooperation in meteorology: KCNA.
December 1, 2007... SEOUL, Sept. 22 (Yonhap) -- North Korea and China agreed Friday to cooperate in meteorology, according to a report by the North's state-run media monitored in Seoul. After the 14th talks on meteorological science and technology, the North's...

Australia's Macquarie becomes major shareholder of S. Korean cable operator: sources.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- Australia's largest bank and a South Korean private equity fund jointly bought more than a 60-percent stake in South Korea's second-largest cable TV operator, sources said Friday. Macquarie Bank and MBK...

S. Korean executives released after being held hostage at factory in Shanghai: sources.
December 1, 2007... SHANGHAI, Nov. 30 (Yonhap) -- Six South Korean executives and mid-level managers at a factory in Shanghai who were taken hostage a week ago by local workers were released Friday, company sources here said. Hwain Spinning Co. said the South...

S. Korea's NHN to relaunch Web search services in Japan.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korea's top Internet company by market value said Friday it will establish a new subsidiary in Japan to relaunch search services in that country, almost three years after it halted them. NHN Corp., which...

Alleged death from cell phone explosion was accidental homicide: police.
December 1, 2007... CHEONGJU, South Korea, Nov. 30 (Yonhap) -- Police said Friday that an incident this week in which a man appeared to have died from the explosion of his cellular phone was actually an accidental homicide. The victim, who was only identified...

(2nd LD) Roh asks senior N.K. official to improve relations with U.S.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korean President Roh Moo-hyun on Friday urged a visiting confidant of North Korean leader Kim Jong-il to improve the communist state's relations with the U.S. and contribute to progress at the six-party...

Prosecutors raid financial arm of Samsung Group accused of running slush funds.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- Prosecutors raided Friday a key financial subsidiary and two electronic data centers of Samsung Group, South Korea's largest conglomerate that is accused of running massive slush funds to bribe government figures and...

(2nd LD) Another ex-Samsung official raises slush fund allegations: report.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- Another former Samsung official has raised slush fund allegations against the conglomerate, which has been engulfed by a widening bribery scandal, according to a news report Friday. Kang Bu-chan, who worked for...

Seoul shares end higher on hopes for U.S. rate cut.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korean stocks closed higher Friday as investor sentiment was lifted by expectations that U.S. Federal Reserve may cut its key interest rate, analysts said. The local currency rose against the U.S. dollar. The...

Hill tells Seoul to match inter-Korean ties to denuclearization progress.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- The top U.S. nuclear envoy Friday said he hoped that South Korea would keep pace with North Korea's denuclearization in pursuing inter-Korean economic cooperation projects being discussed after the second summit of...

Woori Finance Holdings picked as preferred bidder to buy LIG Life Insurance.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- A consortium of Woori Finance Holdings Co. and Britain's largest insurer Aviva Plc. on Friday was selected as the preferred bidder to acquire local insurer LIG Life Insurance Co., South Korea's leading financial...

S. Korea, Mexico to resume free trade talks next week.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korea will resume free trade talks with Mexico next week that have been stalled over the level of tariff elimination on merchandise, the country's Ministry of Foreign Affairs and Trade said Friday. "Both...

Another ex-Samsung official says he managed 300 bln won slush fund, report says.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- Another former Samsung official has come forward with fresh allegations over the ongoing slush fund scandal engulfing South Korea's largest family-run conglomerate Samsung, a news report said Friday. Kang Bu-chan,...

S. Korean consortium to buy 130 bln won of bad debts from Chinese firms.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- A consortium of South Korean financial companies led by the Korea Asset Management Corp. (KAMCO) won an open bid Friday to purchase 130 billion won (US$140.24 million) of bad debts from Chinese firms, the state-run...

Koreas planning Seoul visit of Pyongyang's No. 2 leader.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- The two Koreas are reportedly pushing for a South Korean visit of North Korea's No. 2 leader Kim Yong-nam after the South's presidential election on Dec. 19 to further deepen discussions on bilateral economic...

Defections continue from presidential front-runner's camp.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- A senior opposition lawmaker bolted Friday from his conservative party, following the defection the previous day of a fellow legislator disenchanted with presidential front-runner Lee Myung-bak, now dogged by...

Today in Korean history.
December 1, 2007... Dec. 1 1980 -- The state-run Korea Broadcasting System (KBS) airs the nation's first color television broadcast. 1992 -- South Korea establishes diplomatic relations with South Africa. 1998 -- Hyundai Motor Co. becomes the owner...

Koreas to discuss military security guarantee for economic cooperation.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South and North Korea will resume working-level military talks next week to follow up on the agreement between their defense chiefs to provide security arrangements for inter-Korean economic projects, officials here...

Seoul shares trade higher on Wall Street gains.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korean stocks added to earlier gains late Friday morning as investor sentiment was buoyed by overnight rises in U.S. markets, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 33.43...

S. Korea's No. 2 defense official due in Uzbek, Kazakhstan.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- South Korea's vice defense minister will leave for a trip to Uzbekistan and Kazakhstan on Friday to seek closer bilateral military ties and discuss regional security condition, the Defense Ministry said. Kim...

S. Korea recovers 214.3 bln won worth of public funds in October.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- The South Korean government said Friday it recovered 214.3 billion won (US$231 million) worth of public funds in October through asset sales or recovery of bad loans. Since the Asian financial crisis in November...

Roh calls North Korea a land of new business opportunities.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- President Roh Moo-hyun said Friday North Korea is emerging as a land of new business opportunities, urging South Korean entrepreneurs to invest in the communist North. Speaking to local businesspeople at a ceremony...

GM Daewoo completes engine factory in S. Korea for GM's small-car lineup.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- GM Daewoo Auto & Technology Co., the South Korean unit of struggling U.S. automaker General Motors Corp., said Friday it has completed an engine factory in South Korea to help GM grow its small-car lineup. The new...

Comfort women used to prevent military revolt during war: historian.
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- The Japanese military used sex slaves to satisfy disgruntled frontline soldiers during World War II and discourage military revolt, a Japanese historian claimed Friday. Yoshiaki Yoshimi, a professor of modern Japanese...

Festivals Calendar - December 2007.(Calendar)
December 1, 2007... SEOUL, Nov. 30 (Yonhap) -- The following are the major cultural and tourist festivals to be held in South Korea in December. *Yeongdong Dried Persimmons Festival When: Dec. 21-23 Where: Yeongdong, North Chungchong Province Yeongdong...

S. Korea to boost investment in greenhouse gas storage by over 30 percent next year.
December 2, 2007... SEOUL, Dec. 2 (Yonhap) -- South Korea will increase its spending on technologies to capture and store greenhouse gases by over 30 percent in 2008, the government said Sunday. The Ministry of Science and Technology said 33.95 billion won...

S. Korea's raw material, energy resource imports to reach record levels this year.
December 2, 2007... SEOUL, Dec. 2 (Yonhap) -- South Korea's raw material and energy resource imports are expected to reach record highs this year, the government said Sunday. The Ministry of Commerce, Industry and Energy said the value of those imports needed...

(News Focus) Probe into scandal-scarred Samsung seen as test for South Korea.
December 2, 2007... SEOUL, Dec. 2 (Yonhap) -- The last time Lee Kun-hee, the chairman of Samsung Group and South Korea's richest man, faced a crisis was in 2005. At issue then was a graft scandal unearthed by a TV journalist accusing Samsung of giving illegal...

Key aide of N. Korean leader wraps up rare visit to Seoul.
December 2, 2007... SEOUL, Dec. 1 (Yonhap) -- A senior North Korean official in charge of inter-Korean relations and intelligence ended his rare trip to South Korea later Saturday and returned home via the heavily fortified border dividing the Koreas, Seoul...

N. Korea says 90 pct of flood-damaged roads repaired.
December 2, 2007... SEOUL, Dec. 1 (Yonhap) -- North Korea has nearly finished repairing roads and bridges that were destroyed by floods earlier this year, a pro-North Korea newspaper reported on Saturday. According to the Chosun Sinbo, a newspaper published in...

Roh's security adviser to visit U.S. to discuss peace regime on Korean peninsula.
December 2, 2007... SEOUL, Dec. 1 (Yonhap) -- A top national security aide to South Korean President Roh Moo-hyun will visit Washington next week to discuss establishing a peace regime on the Korean Peninsula, the presidential office said Saturday. Baek...

Today in Korean History.
December 2, 2007... Dec. 2 1946 -- Korean independence fighter Rhee Syngman, who later became South Korea's first president, visits the United States with a proposal that his country set up its own government. Korea regained sovereignty the previous year...

Two local schools mark high rate of acceptance to top U.S. colleges: report.
December 2, 2007... SEOUL, Dec. 1 (Yonhap) -- Two South Korean schools are among the high schools whose students are frequently accepted to top U.S. universities, the Wall Street Journal reported Saturday. The newspaper said among the high schools in its survey...

Media responsibility Not cell phone explosion, but accident blamed for death.
December 2, 2007... (EDITORIAL from the Korea Times on Dec. 1) - People were shocked Thursday by the news that an excavator driver was killed in a suspected cell phone battery explosion. Citing initial police investigations, media outlets rushed to report that the...

Pressuring prosecutors.
December 2, 2007... (EDITORIAL from the JoongAng Daily on Dec. 1) - With the results of the investigation into the BBK case due to be released soon, the political arena is pressing the prosecution hard. It is understandable to some extent that political parties...

Joint fishing area.
December 2, 2007... (EDITORIAL from the Korea Herald on Dec. 1) - Three days of meetings between the defense ministers from South and North Korea ended Thursday without reaching an agreement on the key issue of a joint fishing area in the West Sea. The two...

Top U.S. envoy to visit N. Korea for talks on nuclear disclosure.
December 3, 2007... SEOUL, Dec. 3 (Yonhap) -- Christopher Hill, the top U.S. envoy to multilateral talks on ending North Korea's nuclear ambitions, was to embark on a trip to the North later Monday for discussions on the disclosure of the North's nuclear programs...

S. Korean economy grows 1.3 pct in Q3.
December 3, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korea's economy expanded a revised 1.3 percent in the third quarter from three months earlier, down from an earlier 1.4 percent estimate, mainly on slower-than-expected private consumption growth amid a dip in...

Crucial Week Scandal Probe Result Will Determine Presidential Race.
December 3, 2007... (EDITORIAL from the Korea Times on Dec. 3) - With the prosecution poised to announce the interim results of its investigation into the so-called BBK stock manipulation scandal early this week, political parties are paying particular attention....

North will choose its fate.
December 3, 2007... (EDITORIAL from the JoongAng Daily on Dec. 3) - Christopher Hill, the chief U.S. envoy to the six-party talks, will pay a three-day official visit to North Korea starting today. He is scheduled to conduct in-depth discussions with the North...

Populist promises.
December 3, 2007... (EDITORIAL from the Korea Herald on Dec. 3) - The Korean economy is forecast to grow 5 percent next year, which is about the same level of growth for this year. That prediction does not look bad, given the worsening economic conditions...

N.K. requires industry owners resembling the South's chaebols: expert.
December 3, 2007... WASHINGTON, Dec. 2 (Yonhap) -- Reforming North Korea's economy requires creating a class of industry owners similar to those who run South Korean conglomerates, a Russian diplomat said in his paper released last week. He said the new...

Koreas agree on daily schedule for inter-Korean freight train.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- The two Koreas have agreed on the daily schedule for a cross-border freight train that will resume service later this month for the first time in over 50 years, the South Korean Unification Ministry said on Sunday. ...

N. Korea claimed 12-mile territorial waters at last week's talks: source.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- North Korea urged South Korea to redraw the inter-Korean maritime border in the West Sea while claiming 12-mile territorial waters during their defense ministerial talks last week, a South Korean government source...

First-ever South Korean wedding held in North Korea.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- The first South Koreans to tie the knot in North Korea wed in a ceremony at Mount Geumgang, a scenic North Korean mountain frequented by South Korean tourists, tour company Hyundai Asan said on Sunday. Choe...

U.S. envoy to fly to Pyongyang Monday to discuss declaration of N.K. nuclear programs.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- A top United States nuclear envoy will travel Monday to Pyongyang to discuss North Korea's declaration of all of its nuclear programs by the end of this month, as agreed under a six-nation deal. Christopher Hill,...

N. Korean news agency reports senior official's meeting with Roh.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- The Korean Central News Agency (KCNA), North Korea's state-run news outlet, reported on Sunday that Kim Yang-gon, director of the United Front Department at the North's ruling Workers' Party, returned home on Saturday...

S. Korean commerce minister to visit U.S. to push for ratification of FTA.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- South Korea's commerce, industry and energy minister will visit the United States this week to boost cooperation in the energy sector and request the Congress to ratify the free trade agreement (FTA) between the two...

Almost 50 pct of Japanese think S. Korea-Japan relations are good: poll.
December 3, 2007... TOKYO, Dec. 2 (Yonhap) -- The percentage of Japanese who think that their country has good ties with South Korea has sharply increased over the past year to nearly 50 percent, a poll by Japan's Cabinet Office showed on Sunday. According to...

Listed firms' cash reserve ratio shoots up due to reluctance to invest.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- South Korea's listed companies saw their reserves of cash and cash equivalents soar in the first nine months of this year, as they remained hesitant to make fresh investments amid an uncertain economic environment, the...

Seoul considers importing N. Korean nuclear fuel rods: official.
December 3, 2007... SEOUL, Dec. 2 (Yonhap) -- The South Korean government is considering bringing nuclear fuel rods stored at North Korea's key nuclear facilities at Yongbyon to South Korea for possible domestic use, a government source said Sunday. "When the...

S. Korea's foreign reserves grow in November.
December 4, 2007... SEOUL, Dec. 4 (Yonhap) -- South Korea's foreign exchange reserves advanced in November from a month earlier amid the global weakness of the U.S. dollar and increased investment profits, the central bank said Tuesday. According to the Bank...

Senior aide to Roh explains inter-Korean contacts to U.S. officials in Washington.
December 4, 2007... WASHINGTON, Dec. 3 (Yonhap) -- South Korea's top security adviser, currently visiting Washington, said Monday he discussed with the U.S. the results and implications of the latest flurry of inter-Korean contacts. Coming out of talks with...

(Yonhap Feature) "Free hugs" hit presidential race in S. Korea.
December 4, 2007... SEOUL, Dec. 4 (Yonhap) -- "Free hugging," a worldwide movement of people offering hugs to strangers in public, has emerged not just as an Internet sensation, but also as a key campaign tool in this month's presidential election in South Korea....

S. Korea ranks 11th in U.S.-held securities value.
December 4, 2007... WASHINGTON, Dec. 3 (Yonhap) -- The United States held US$124 billion worth of South Korean securities as of the end of last year, the 11th largest holdings in a foreign country, according to the latest portfolio released by the U.S. Treasury....

Presidential front-runner gets boost from former heavyweight politician.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Presidential front-runner Lee Myung-bak, dogged by allegations of involvement in a financial scandal that is now being investigated by prosecutors, got a boost on Monday when he was endorsed by a former political...

Samsung Electronics sales to top US$100 bln this year: executive.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Samsung Electronics Co., the world's largest manufacturer of computer memory chips, will see its sales exceed the $100 billion mark this year thanks to strong performances in the TV and mobile handset sectors, a top...

U.S. commander given Korean name for contribution to S. Korean national security.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- The commander of U.S. Forces Korea (USFK) received a Korean name on Monday in honor of his contribution to the alliance between Seoul and Washington, becoming the latest distinguished American figure to receive the...

Prosecutors to announce findings on top candidate's alleged link to financial scam.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Prosecutors are set to reveal within days the outcome of their probe of front-running presidential candidate Lee Myung-bak's alleged involvement in a financial scam, amid rumors that the prosecution has yet to find any...

Boy killed in accident on ski slope after closing hours.
December 4, 2007... YONGIN, South Korea, Dec. 3 (Yonhap) -- Police said Monday a 12-year-old boy was killed and two of his friends were injured while using a mat as a makeshift sled at a ski resort here the previous day. The boy, identified only by his last name...

Top candidate egged on campaign tour.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- The front-running conservative presidential candidate, Lee Myung-bak, was egged on Monday by a demonstrator calling him "corrupt." The candidate for the main opposition Grand National Party was entering his campaign...

SK Telecom outpaces smaller rivals in gaining new customers in November.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, outperformed its smaller rivals in luring new customers in November, industry data showed Monday. SK Telecom reported that it attracted a net 101,894 customers last...

S. Korea to buy Swedish artillery-detecting radar.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korea has decided to buy Swedish-made radars capable of detecting and tracking incoming artillery and rocket fire for deployment by 2010, officials said on Monday. South Korea has been pushing for the purchase of...

Seoul shares end lower on institutional selloff.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korean stocks ended slightly lower after a choppy session Monday as institutions dumped shipbuilders, lenders and other large-cap issues, analysts said. The local currency depreciated against the U.S. dollar. ...

Top U.S. envoy arrives in N. Korea for talks on nuclear disclosure.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- The top U.S. nuclear envoy arrived in North Korea Monday to discuss disablement of the communist nation's nuclear facilities and submission of a full list of its nuclear programs by the end of the year, reports said....

S. Korean auto sales rise 2.6 pct in November.(Financial report)
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Despite slow exports and declining domestic sales, South Korea's overall automobile sales rose 2.6 percent from a year earlier to 486,037 units in November, industry data showed Monday. Exports by the nation's...

Seoul mayor delivers river redevelopment blueprint to Hanoi.
December 4, 2007... HANOI, Dec. 3 (Yonhap) -- Seoul Mayor Oh Se-hoon, who arrived here on Sunday for a two-day visit, delivered a basic redevelopment plan for the Huang River that runs through Hanoi during his meeting with the mayor of the Vietnamese capital,...

SK Telecom signs deal to purchase Hanarotelecom for 1.08 tln won.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, said Monday it has signed a deal to take over a controlling stake in Internet service operator Hanarotelecom Inc. to provide diverse communications to its customers and...

KTF eyes 3G mobile communications market in Malaysia through stake purchase.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- KTF Co., South Korea's second-largest mobile carrier, said Monday it has signed a deal to take over a stake in Malaysian telecommunications firm U Mobile, a move intended to enter the burgeoning third-generation (3G)...

Securities firms in S. Korea see earnings jump in H1.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Securities companies in South Korea saw their earnings jump in the first half of fiscal 2007 on higher commission incomes amid the stock market's bull run, the country's financial watchdog said Monday. A total of...

Hyundai Motor's sales drop 1.2 pct in November on weak exports.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Hyundai Motor Co., South Korea's largest automaker, said Monday its vehicle sales in November fell 1.2 percent from a year earlier to 238,470 units due to weak exports. Domestic sales rose 1.7 percent to 54,736, while...

Foreign ownership of S. Korean stocks plunges.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Foreign ownership of South Korean stocks fell sharply as foreign investors locked in profits amid the local market's bull run, the stock market operator said Monday. According to the Korea Exchange, foreign investors...

China's Haier Group eyes 100 bln won in S. Korean sales.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Haier Group Co., China's electronics giant, aims to post over 100 billion won (US$108 million) in sales in South Korea next year by intensifying its efforts to promote flat-panel TVs and air conditioners with...

S. Korea's consumer prices gain 3.5 pct in November.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korea's consumer prices rose a higher-than-expected 3.5 percent in November from a year earlier due to an increase in prices of oil, agricultural goods and industrial products, a government report showed Monday....

Navy relocates command post to Busan from Jinhae.
December 4, 2007... BUSAN, Dec. 3 (Yonhap) -- The Navy has moved its operational command to Busan, South Korea's largest port city along the southeast coast, as part of efforts to expand its role and area of operations. The command's relocation from the smaller...

Today in Korean history.
December 4, 2007... Dec. 4 1884 -- Kim Ok-kyun, Pak Yong-hyo and other young reformist officials, supported by the Japanese government, briefly seize power in a coup, seeking to modernize and open Korea's last kingdom, Yi Dynasty. The new group believed Korea...

S. Korea's consumer prices gain 3.5 pct in November.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korea's consumer prices rose a higher-than-expected 3.5 percent in November from a year earlier due to an increase in oil and industrial product prices, a government report showed Monday. The annual...

Hyundai Engineering & Construction wins US$920 mln order from Qatar.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- South Korea's No. 3 builder Hyundai Engineering & Construction Co. said Monday it has received a US$920 million order from Qatar Fertilizer Co. to build three fertilizer plants in southeastern Qatar. The plants will...

Samsung Engineering inks US$430 mln refinery deal.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Samsung Engineering Co., South Korea's top plant builder, said Monday it has signed a US$430 million deal with state-owned Saudi Arabian Oil Co. to build a refinery plant in eastern Saudi Arabia. Under the deal,...

Hyundai Heavy wins US$737 mln order to build 9 container vessels.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Hyundai Heavy Industries Co., the world's largest shipbuilder, said Monday that it has received a contract valued at 679.8 billion won (US$737 million) to build nine container vessels for a Singaporean company. The...

Deputy premiers of Koreas to meet on details of inter-Korean economic projects.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- Deputy prime ministers of South and North Korea will begin three-day economic talks here Tuesday to follow up on details of economic cooperation projects agreed upon at the second-ever inter-Korean summit in October....

Roh's chief security advisor flies to U.S. over peace initiatives.
December 4, 2007... SEOUL, Dec. 3 (Yonhap) -- President Roh Moo-hyun's chief security policy secretary left for the U.S. Monday for discussions on accelerating the dismantlement of North Korea's nuclear program and establishing a new peace regime on the Korean...