YON - Yonhap News Agency of Korea articles from March 2008

YON - Yonhap News Agency of Korea archives from March 2008

Sales network key to agriculture growth: minister.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Developing an efficient sales network is the key to farming sector growth as the country opens its market to imports, South Korea's new agriculture and fisheries minister said Friday. In a inaugural speech, Chung...

Currency is not something to be left only to market: minister.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The South Korean government could take action "if necessary" to defend the nation's currency by playing a part in the foreign exchange market, a top economic policymaker hinted Friday. "I think there is no...

Investment, innovation key to growth: minister.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Fueling business investment and strengthening competitiveness through innovation is a key policy goal of the new administration, the head of the knowledge-based economy ministry said Friday. Lee Youn-ho said in a...

Gov't could make venture capital to help SMEs.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The government said Friday that it is considering creating a new venture capital fund dedicated to helping small and medium-sized enterprises (SMEs). The newly created Ministry of Knowledge-based Economy said the...

New defense minister takes office, vowing changes.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- A long-time advocate of a stronger alliance between South Korea and the United States assumed the country's highest defense post Friday, heralding closer ties between the two allies of more than half a century. Lee...

(profile) Second vice foreign minister elite diplomat.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Kim Sung-hwan, the country's new second vice minister for foreign affairs, is an elite diplomat with much experience in dealing with the United States and Europe. The 55-year-old native of Seoul has often been on...

(2nd LD) Lee apologizes for trouble in Cabinet formation.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- President Lee Myung-bak said Friday he feels "somewhat" responsible for the recent confusion over his nomination of scandal-ridden figures as Cabinet ministers. "The start of my government was not smooth," Lee said...

(profile) Career diplomat with expertise on U.S. named vice FM.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Kwon Jong-rak, who was named first vice foreign minister by President Lee Myung-bak Friday, is known for his diplomatic expertise in North American affairs. Born in Pohang, the president's hometown in North...

Lee picks vice foreign ministers.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- President Lee Myung-bak Friday appointed former ambassador to Ireland, Kwon Jong-rak, as first vice foreign minister and ambassador to Austria, Kim Sung-hwan, as second vice foreign minister. Kwon, who joined the...

Assembly confirms prime minister-designate.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The National Assembly endorsed Friday the appointment of Han Seung-soo as the first prime minister of President Lee Myung-bak despite earlier disputes over his alleged improper financial conduct. Han was approved...

Nat'l team coach to inspect players in Europe.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The head of South Korea's national football squad will travel to Europe early next month to inspect team members playing there ahead of a World Cup qualifer against North Korea, the sport's governing body here said...

Seoul shares plunge on shipyard, tech declines.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korean stocks closed sharply lower Friday as Wall Street pullbacks prompted sell-offs of shipyard and tech issues including Samsung Electronics, analysts said. The local currency depreciated against the U.S....

(News Focus) Lee's party staggers over 'rich Cabinet' controversy.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korea's ruling party appears to be losing some of its initial strong public support ahead of the upcoming parliamentary elections amid ongoing disputes over President Lee Myung-bak's minister nominees. Lee's...

Whistle-blower says Lee's officials were bribed by Samsung.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- A former lawyer for Samsung Group who raised a slew of corruption charges against the conglomerate claimed Friday that some officials of the Lee Myung-bak administration accepted bribes from Samsung. The...

Samsung Heavy eyes fund for oil spill victims.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Samsung Heavy Industries Co., partly blamed for South Korea's worst-ever oil spill last December, said Friday it will set up a 100-billion-won ($107 million) fund to help affected people and restore devastated areas....

Festival Calendar - March 2008.(Calendar)
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The following are the major cultural and tourist festivals to be held in South Korea in March. * Seoul International Tourism and Food Expo When: March 19-23 Where: KINTEX (Korea International Exhibition Center)...

Seoul to expand online service for foreigners.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korea will offer expanded online services to foreigners wanting to make business investments, visit and study in the country, the government said Friday. The one-stop service can be accessed from Saturday by...

Lee acts on creative pragmatism.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- President Lee Myung-bak, a preacher of creative pragmatism, is drawing keen attention for rapidly reducing formalities and presidential protocol in state affairs in accordance with his pragmatic thinking. Since his...

Korea's trade surplus with Singapore jumps on FTA.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korea's trade surplus with Singapore has shot up in the approximately two years since a bilateral free trade deal went into effect, a government report showed Friday. According to the report by the Ministry of...

Seoul shares extend losses on U.S. pullbacks.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korean stocks extended losses late Friday morning as overnight Wall Street pullbacks prompted sell-offs of tech, steel and auto shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI)...

Korea to boost foot-and-mouth disease monitoring.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korea will enhance monitoring of foot-and-mouth disease and beef up quarantine inspections to prevent a possible outbreak in the coming months, officials said Friday. The measures, which go into effect on...

National Assembly likely to confirm prime minister-designate.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- The National Assembly is set to vote Friday on the nomination of Prime Minister-designate Han Seung-soo with the major opposition party appearing to have softened its opposition after the resignation of three...

Seoul shares open lower on Wall Street losses.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- South Korean stocks opened lower Friday as overnight pullbacks in U.S. markets dented investor sentiment, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.7 points, or 1.02 percent, to...

Investment seen as key to Korea's growth.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- Business investment will play a critical role in fueling South Korea's economic growth this year as external uncertainties are likely to exert downward pressure on the economy, the head of a state-run think tank said...

STX Pan Ocean's earnings more than quadruple.
March 1, 2008... SEOUL, Feb. 29 (Yonhap) -- STX Pan Ocean Co., South Korea's largest carrier of bulk cargoes such as grain and iron ore, said Friday that its earnings more than quadrupled last year on higher shipping rates. Its net profit reached 431...

Junk food banned from Seoul schools.
March 2, 2008... SEOUL. March 2 (Yonhap) -- Coffee, instant noodles, fried foods and carbonated drinks will be included on the list of foods banned in Seoul schools from spring semester as education authorities ramp up their fight against child obesity, the...

S. Korea, U.S. begin 6-day joint military exercise.
March 2, 2008... SEOUL, March 2 (Yonhap) -- South Korea and the United States Sunday began a six-day joint military exercise to deter potential military threats from North Korea amid Pyongyang's accusations that they are staging a "massive war game" in...

Forecast for S. Korean economy downgraded: think tank.
March 2, 2008... SEOUL, March 2 (Yonhap) -- A major private think tank Sunday downgraded its projection for the South Korean economy's growth this year, reflecting concerns over a possible U.S. slowdown and financial woes in global markets. South Korea's...

N. Korea demands US$100 annual fee per S. Korean.
March 2, 2008... SEOUL, March 2 (Yonhap) -- North Korea has demanded that every South Korean resident in the North's Kaesong industrial park, built with South Korea's investment under a 2000 inter-Korean summit agreement, pay an annual registration fee of...

(Yonhap Feature) Mothers flood courts to change children's names.
March 2, 2008... SEOUL, March 2 (Yonhap) -- The road was icy after heavy snow and her body was heavy, but Bae Mi-ran, 36, felt a sense of relief as she drove to the Seoul Family Court. After some paperwork, her daughter will get a new name and there will be no...

(2nd LD) Kim Jong-il visits Chinese embassy in Pyongyang: report.
March 2, 2008... SEOUL, March 1 (Yonhap) -- North Korean leader Kim Jong-il visited the Chinese Embassy in Pyongyang Saturday amid efforts to restart the stalled six-party talks on denuclearizing the North, the communist state's official news media said. ...

LA Galaxy beats FC Seoul in penalty shootout.
March 2, 2008... SEOUL, March 1 (Yonhap) -- The LA Galaxy defeated FC Seoul of South Korea 2-1 in a penalty shootout Saturday after the two sides played to a one-all draw in regular time, with star midfielder David Beckham assisting on a goal. Beckham, 33,...

Lee calls for future-oriented ties with Japan.
March 2, 2008... SEOUL, March 1 (Yonhap) -- President Lee Myung-bak on Saturday proposed that South Korea and Japan stop feuding over their history and instead build a future-oriented bilateral relationship with a pragmatic attitude. In a speech marking...

Firms that create jobs should be honored: president.
March 2, 2008... SEOUL, March 1 (Yonhap) -- Firms that create jobs and pay taxes must receive respect and the entrepreneurs who run those companies should be considered as patriots, South Korean President Lee Myung-bak said Saturday. In his first official...

U.S. nuclear envoy fails to meet N. Korean counterpart.
March 2, 2008... BEIJING, March 1 (Yonhap) -- The U.S. envoy in charge of nuclear disarmament efforts was unable to urge North Korea to follow through on its pledge to declare its past weapons program when his counterpart missed a meeting in Beijing. ...

Fire to disrupt Kolon's production for 6 months.
March 2, 2008... GIMCHEON, South Korea, March 1 (Yonhap) -- A fire that raged through the Kolon Industries chemical plant in Gimcheon is expected to disrupt production for six months, company sources said on Saturday. The fire that broke out early Saturday...

N. Korea blasts U.S. hard-liners.
March 2, 2008... SEOUL, March 1 (Yonhap) -- North Korea's official media lashed out at "U.S. hard-liners" on Saturday for what they described as bids to invade and rule the communist state, just as Japan colonized Korea during the last century. In a...

S. Korea role model for Latin America: envoy.
March 2, 2008... SEOUL, March 1 (Yonhap) -- South Korea is a good role model for Latin American countries in terms of political achievements and economic development, Chile's envoy to Seoul said Saturday. In an interview with Yonhap News Agency, Adolfo...

New S. Korean defense chief honors sailors killed in N. Korea clash.
March 2, 2008... SEOUL, March 1 (Yonhap) -- South Korea's new defense minister on Saturday paid his respects to six sailors killed in action during a firefight with North Korea in the Yellow Sea in 2002. The visit to the memorial at 2nd Fleet headquarters in...

Shares unlikely to post worthwhile gains.
March 2, 2008... SEOUL, March 1 (Yonhap) -- South Korean stocks are unlikely to post serious gains in next week's trading, as they were set "firmly" in the lower 1,700-point level last week, local analysts said Saturday. After bouncing back to the...

N. Korea selling fake cigarettes: report.
March 2, 2008... WASHINGTON, Feb. 29 (Yonhap) -- North Korea may have switched from narcotics trafficking to selling counterfeit cigarettes to earn valuable foreign currency, a report by the U.S. State Department said Friday. The annual report on...

Cabinet calamity.
March 2, 2008... (EDITORIAL from JoongAng Daily on March 1) - The appointment of Han Seung-soo as prime minister was finally endorsed by the National Assembly yesterday, officially launching the new administration four days after President Lee Myung-bak was...

Education for Sale School Foundations ought to have educators' conscience.
March 2, 2008... (EDITORIAL from Korea Times on March 1) - It is no news the grades of Korean universities and colleges hover low among major economic powers. Korean students tend to do better than most of their foreign counterparts in high school, but fare...

Pragmatic choice.
March 2, 2008... (EDITORIAL from Korea Herald on March 1) - Foreign Minister-nominee Yu Myung-hwan's statement during his parliamentary confirmation hearing that Korea should participate more actively in the Proliferation Security Initiative seems to indicate...

Fake science.
March 3, 2008... (EDITORIAL from JoongAng Daily on March 3) - Kim Tae-Kook, a professor at the state-run Korea Advanced Institute of Science and Technology, published the results of his research in the world-renowned journal Science in 2005 and in Nature...

Dream of financial hub.
March 3, 2008... (EDITORIAL from Korea Times on March 3) - It is disappointing that Seoul has failed to make it onto the list of the world's top 50 financial centers despite former President Roh Moo-hyun's ambitious goal of transforming the county into a...

Vetting the nominees.
March 3, 2008... (EDITORIAL from Korea Herald on March 3) - Nothing is more important, when it comes to the administration of state affairs, than to pick the right person for each Cabinet post. Each Cabinet member is legally empowered to assist the president in...

Top headlines in major S. Korean newspapers.
March 3, 2008... SEOUL, March 3 (Yonhap) -- The following are the top headlines in major Korean newspapers on March 3. Korean-language dailies -- 49.1 percent say President Lee doing well, survey shows (Kyunghyang Shinmun) -- A week after President...

Korea ranked 18th in holdings of U.S. securities.
March 3, 2008... WASHINGTON, March 2 (Yonhap) -- South Korea was holding US$138 billion worth of U.S. securities as of the end of June last year, ranking it 18th among foreign countries, the latest data released by the Treasury said. The preliminary report,...

Seoul analyzing Japanese record of forced laborers.
March 3, 2008... SEOUL, March 2 (Yonhap) -- The South Korean government is analyzing decades-old records of Koreans forced into labor during Japan's colonial rule that may help families of the laborers win hefty compensation from the Japanese government, the...

Seoul to begin new search for war dead.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korea will launch fresh efforts this week to find the remains of South Korean and U.S. troops who went missing or were killed in action (KIA) during the 1950-53 Korean War, the Defense Ministry said Sunday. ...

(2nd LD) Kim Ha-joong named unification minister.
March 3, 2008... SEOUL, March 2 (Yonhap) -- President Lee Myung-bak on Sunday named Ambassador to China Kim Ha-joong as unification minister and former vice-environment minister Lee Man-eui as environment minister, presidential spokesman Lee Dong-kwan said. ...

(2nd LD) City of Gumi resumes water supply.
March 3, 2008... GUMI, South Korea, March 2 (Yonhap) -- The supply of tap water was resumed in the southeastern provincial city of Gumi late Sunday after being suspended for hours following the dilution of a toxic chemical detected in the water, officials said....

(profile) Administrative expert to head Environment Ministry.
March 3, 2008... SEOUL, March 2 (Yonhap) -- Lee Man-eui, named Sunday to lead the Environment Ministry under Lee Myung-bak's new government, is noted for his attentive and determined working style. Lee, 62, built his expertise in administrative affairs...

(profile) North Korea expert to lead Unification Ministry.
March 3, 2008... SEOUL, March 2 (Yonhap) -- Kim Ha-joong, named Sunday to head the Unification Ministry under Lee Myung-bak's new government, is known as a North Korea expert who had a large influence on former President Kim Dae-jung's engagement policy toward...

Choi named to head independent broadcasting commission.
March 3, 2008... SEOUL, March 2 (Yonhap) -- The nominee for the head of the powerful Broadcast Communications Commission charged with handling the country's state-of-the-art broadcasting and communications technology and policies is said to be one of a handful...

S. Korea approves international convention against corruption.
March 3, 2008... SEOUL, March 2 (Yonhap) -- The South Korean government will be able to more freely track down and recoup money and other assets stashed away abroad by criminals charged with corruption through intensifying cooperation with other countries,...

S. Korea chooses design of maglev train.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korea has selected the model of the magnetic levitation (maglev) to be launched for commercial service at one of its international airports within five years, a government agency said Sunday. The Ministry of...

N.K. leader wishes China success in hosting Olympics.
March 3, 2008... BEIJING, March 2 (Yonhap) -- North Korean leader Kim Jong-il has wished the Chinese success in the hosting of the Summer Olympics in August, the official Web site of the Chinese Foreign Ministry said Sunday. The North Korean leader made...

Yellow dust advisory posted for two days.
March 3, 2008... SEOUL, March 2 (Yonhap) -- The national weather service issued a yellow dust advisory for Seoul and western parts of the country Sunday afternoon, adding western regions will be affected by the dust from Mongolia's Gobi Desert approaching from...

S. Korean card firms' 2007 net up 14.5 pct.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korean credit card firms saw their combined earnings rise 14.5 percent in 2007 from a year earlier due mainly to one-off gains, the financial watchdog said Sunday. According to the Financial Supervisory Service...

High dividend earners grow on strong business performance in 2007.
March 3, 2008... SEOUL, March 2 (Yonhap) -- The number of stockholders in South Korea who are to receive more than 1 billion won (US$1.06 million) in dividends for fiscal year 2007 rose to an all-time high on local firms' brisker business performance last year,...

POSCO-SeAH breaks ground for pipe plant in U.S.
March 3, 2008... SEOUL, March 2 (Yonhap) -- POSCO, the world's fourth-largest steelmaker, said Sunday it has broken ground in California for a plant that will produce up to 270,000 metric tons of steel pipes annually for transporting gas and petroleum. The...

Samsung probe to have positive long-term impact: survey.
March 3, 2008... SEOUL, March 2 (Yonhap) -- A majority of South Korean chief executives think the ongoing independent probe of Samsung Group's corruption scandal will have a positive impact on South Korea's economy in the long-term by enhancing corporate...

Major Internet portals accused of unfair business: watchdog.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korea's anti-trust watchdog has spotted evidence that major local Internet portal operators have engaged in unfair business deals by using their superior market status over content providers (CPs), sources said...

S. Korean manufacturing prowess at 81 pct of global leaders: survey.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korea's technology in the manufacturing sector stood at 81.3 percent of that of global leaders in 2007, a poll conducted by a state-run think tank said Sunday. The survey of 608 domestic companies showed...

Experts to consider coal-burning stoves for Mongolia.
March 3, 2008... SEOUL, March 2 (Yonhap) -- South Korean energy and environmental protection experts plan to conduct a fact-finding mission to determine the feasibility of providing Mongolia with coal-fired stoves, a publicly run non-profit organization said...

Officials head to Nepal to probe crash of UN chopper.
March 4, 2008... SEOUL, March 4 (Yonhap) -- South Korea will dispatch a fact-finding mission to Nepal Tuesday to investigate the crash of a United Nations helicopter carrying four UN peacekeeping forces, including a South Korean officer, the office of the Joint...

(News Focus) Parties in nomination fights ahead of April elections.
March 4, 2008... SEOUL, March 4 (Yonhap) -- Internal squabbles are deepening in South Korea's ruling and opposition parties, as they push to drop a huge number of incumbent lawmakers as part of their goal to "renew" their images ahead of the April parliamentary...

Roh in his village.
March 4, 2008... (EDITORIAL from the Korea Herald on Mar. 4) - During much of his five-year tenure, former President Roh Moo-hyun received some of the lowest ratings of any leader of this republic. But the scenes in his hometown of Jinyeong in South Gyeongsang...

Exchange rate blues.
March 4, 2008... (EDITORIAL from the Korea Times on Mar. 4) - The U.S. Congress greeted the election of President Lee Myung-bak with congratulations and unusual resolutions. Various economic signals from America, however, appear to be far from congratulatory. A...

The North plays its ace.
March 4, 2008... (EDITORIAL from the JoongAng Daily on Mar. 4) - North Korea responded strongly to the joint military exercises by South Korea and the United States that started on March 2. The mission of the Korean Peoples Army in the Panmunjum truce village...

S. Korea's foreign reserves up in February.
March 4, 2008... SEOUL, March 4 (Yonhap) -- South Korea's foreign exchange reserves rose by almost US$500 million in February from a month earlier as a weaker U.S. dollar boosted the dollar value of assets in other currencies, the central bank said Tuesday. ...

N.K. still trying to sell missiles: US report.
March 4, 2008... WASHINGTON, March 3 (Yonhap) -- North Korea is still trying to sell its missiles to foreign countries, although sales have been slowed by the country's increasing international isolation, said a U.S. intelligence report unclassified Monday. ...

US blames China on NK human trafficking.
March 4, 2008... WASHINGTON, March 3 (Yonhap) -- A U.S. official, while criticizing North Korea on Monday for allowing rampant trafficking of its citizens, held China responsible for allowing it across the shared border. Mark Lagon, director of the State...

Raytheon wins Korea's Patriot contract.
March 4, 2008... WASHINGTON, March 3 (Yonhap) -- Raytheon announced Monday it won an initial contract to provide engineering services for the U.S. sale of the Patriot air and missile defense system to South Korea. The Massachusetts-based company said through...

S. Korean soldier onboard downed U.N. chopper.
March 4, 2008... SEOUL, March 3 (Yonhap) -- A South Korean soldier was aboard a United Nations helicopter that crashed in central Nepal on Monday, the office of Joint Chiefs of Staff said. However, the office stopped short of confirming whether Lt. Col. Park...

(2nd LD) 11 injured in fire at LG Chem's plant.
March 4, 2008... CHEONGJU, South Korea, March 3 (Yonhap) -- Eleven workers sustained injuries after a fire broke out Monday at a chemical plant in North Chungcheong Province, central South Korea, local firefighters said. The fire hit the plant operated by...

USS Nimitz makes historic debut in staged war in Korea.
March 4, 2008... EAST SEA, South Korea, March 3 (Yonhap) -- It was only via one of its own aircraft that a group of South Korean and foreign journalists was allowed to board the flight deck of the tightly guarded U.S. aircraft carrier Nimitz, where 61 aircraft...

New government urges N. Korea to address human rights.
March 4, 2008... SEOUL, March 3 (Yonhap) -- South Korea called Monday for North Korea to address its human rights record, signaling the new administration's tough approach on the issue. "The Government of the Republic of Korea, underscoring human rights as a...

POSCO sets up JV with Nippon Steel.
March 4, 2008... SEOUL, March 3 (Yonhap) -- POSCO Co., the world's fourth-largest steelmaker, said Monday that it has jointly set up a steel-recycling unit with Japanese steel maker Nippon Steel Corp. The unit, known as P&R, is capitalized at 39 billion won...

Ship operators battle in court over massive oil spill.
March 4, 2008... SEOSAN, South Korea, March 3 (Yonhap) -- Operators of a Samsung barge and a Hong Kong-registered oil tanker that collided in December battled in court on Monday over who should bear more responsibility for South Korea's largest oil spill. ...

S. Korea to host world short track speed skating championship.
March 4, 2008... SEOUL, Feb. 3 (Yonhap) -- South Korea will host this year's world short track speed skating championship later this week, seeking to retain its top-ranking position in the sport, officials here said Monday. The annual World Short Track...

SKT outpaces rivals in luring customers.
March 4, 2008... SEOUL, March 3 (Yonhap) -- SK Telecom Co., South Korea's No. 1 mobile carrier, gained more customers than its rivals in February, maintaining its dominance of the country's almost-saturated telecom market, according to data released by mobile...