YON - Yonhap News Agency of Korea articles from May 2005

YON - Yonhap News Agency of Korea archives from May 2005

(LEAD) S. KOREAN FOOTBALL CHIEF TO ADVISE N.K. TO APPEAL FIFA PUNISHMENT.
May 1, 2005... SEOUL, May 1 (Yonhap) -- The South Korean vice president of football's world governing body, FIFA, said Sunday he is planning to recommend the North Korean football team to appeal FIFA's punitive action against the North for crowd violence at...

(LEAD) MAIN OPPOSITION GNP SWEEPS ASSEMBLY BY-ELECTIONS.
May 1, 2005... By Byun Duk-kun SEOUL, May 1 (Yonhap) -- South Korea's main opposition Grand National Party (GNP) won a sweeping victory in Saturday's National Assembly by-elections while the ruling Uri Party failed to claim a single seat. The main...

LABOR GROUPS OF KOREAS ISSUE JOINT STATEMENT ON DOKDO: KCNA.
May 1, 2005... SEOUL, May 1 Asia Pulse -- Three labor organizations from the two Koreas issued Sunday a joint statement that reaffirms Korea's sovereignty over the Dokdo islets and their resolution to defend it, North Korea's official news agency reported. ...

S.KOREAN WORKERS ON U.S. MILITARY BASES TO VOTE ON STRIKE.
May 1, 2005... SEOUL, May 1 Asia Pulse -- Unionized employees on U.S. military bases in South Korea will vote on whether to strike in protest at Washington's plans to downsize the number of locals employed at its installations here, the leader of the union...

SOUTH KOREAN ALPINIST ACHIEVES "GRAND SLAM' BY REACHING NORTH POLE.
May 1, 2005... SEOUL, May 1 Asia Pulse -- South Korean alpinist Park Young-seok said Sunday he and his three-member expedition reached the North Pole, making Park the first person to complete the "grand slam" of mountaineering. Park became the first...

HEAT WAVE HITS PENINSULA; SEOUL'S TEMPERATURE MARKS 100-YEAR HIGH.
May 1, 2005... SEOUL, May 1 Asia Pulse -- A heat wave hit the Korean Peninsula over the weekend, with the temperature in Seoul rising to 29.8 C on Saturday, the highest for April in almost 100 years, the country's weather agency said Sunday. The...

(LEAD) THOUSANDS OF WORKERS MARK MAY DAY IN S. KOREA.
May 1, 2005... SEOUL, May 1 (Yonhap) -- Thousands of workers from South Korea's two labor union umbrella groups and students held an annual rally to commemorate Labor Day in downtown Seoul Sunday amid a deepening chasm in their relations with employer...

CRIMES BY FOREIGNERS EXCEED 10,000 IN 2004.
May 1, 2005... SEOUL, May 1 Asia Pulse -- The number of crimes committed by foreign residents in South Korea was 12,821 last year, up from 9,338 the previous year, the prosecutor's office said Sunday. Crimes by expatriates totaled 8,046 and 6,788,...

(LEAD) SATELLITE-BASED MOBILE TV SERVICE BEGINS.
May 1, 2005... SEOUL, May 1 (Yonhap) -- Satellite-based mobile TV service went into commercial operation in South Korea Sunday for the first time in the world, said its operator, TU Media Corp. The satellite digital multimedia broadcasting (DMB)...

FISHERMEN ASSIST POLICE SEIZURE OF CHINESE VESSELS NEAR NLL.
May 1, 2005... INCHEON, South Korea, May 1 Asia Pulse -- A group of South Korean fishing boats surrounded four Chinese fishing vessels in waters adjacent to the sea border with North Korea and handed them over to the local maritime police Sunday, the police...

S. KOREAN CONSUMER SENTIMENT INDEX SURGES FOR Q2.
May 1, 2005... SEOUL, May 1 Asia Pulse -- A consumption recovery appears to be gaining strength in South Korea, with a leading consumer sentiment index for the April-June period recording a 33-month high. The Samsung Economic Research Institute (SERI) said...

MAIN MANUFACTURERS SUFFER LOWER PROFITS FROM STRONG WON: SOURCES.
May 1, 2005... SEOUL, May 1 Asia Pulse -- South Korea's main manufacturing firms suffered a drop of their net profits due to the won's strength in the first quarter of this year, stock market sources said Sunday. The combined net profits of the country's...

SAMSUNG, LG ELECTRONICS PASS NOKIA IN U.S. MOBILE PHONE SALES.
May 1, 2005... SEOUL, May 1 Asia Pulse -- Samsung Electronics Co. and LG Electronics Inc. were the second- and third-ranked mobile phone vendors in the United States during the first quarter of this year, according to a U.S.-based market research firm Sunday....

(3RD LD) S. KOREA'S TRADE SURPLUS REACHES US$1.96 BLN IN APRIL.
May 1, 2005... SEOUL, May 1 (Yonhap) -- South Korea's trade surplus rose in April compared to the previous month as global demand for locally-made products remained strong despite the won's appreciation against the dollar, the government said Sunday. ...

EMIRATES AIRLINES STARTS DAILY FLIGHTS ON INCHEON-DUBAI ROUTE.
May 1, 2005... YEONGJONGDO, May 1 Asia Pulse -- Emirates Airlines of the United Arab Emirates launched daily flights between Dubai and Incheon on Sunday to meet growing demand for travel between the two cities, the largest airline in the Middle East and...

NORTH KOREA'S ONLY BANK IN EUROPE TO TAKE STEPS FOR CLOSURE.
May 2, 2005... SEOUL, May 2 (Yonhap) North Korea's only bank in Europe will take steps to liquidate itself, beginning June 30, due to a lack of business, a South Korean trade promotion agency said Wednesday. The closure of the North's Golden Star Bank in...

HYUNDAI MOTOR TO BUILD SECOND OFFICE TOWER AT MAIN OFFICE IN SEOUL.
May 2, 2005... SEOUL, May 2 (Yonhap) Hyundai Motor Co. said Monday that it will spend 170 billion won (US$169.8 million) to build a new office tower on the site of an existing annex building at its main office in southern Seoul. South Korea's No. 1...

STUDENTS DISRUPT HONORARY DOCTORATE CEREMONY FOR SAMSUNG CHAIRMAN.
May 2, 2005... SEOUL, May 2 (Yonhap) Samsung Group chairman Lee Kun-hee was forced to use the back entrance to a ceremony Monday awarding him an honorary doctorate, blocked by students protesting him and the award. The students of Korea university, calling...

WELFARE MINISTER CALLS FOR GREATER SOCIAL SECURITY SPENDING.
May 2, 2005... SEOUL, May 2 (Yonhap) Minister of Health and Welfare Kim Geun-tae said Monday that South Korea must raise the amount of money spent on social security to reflect the size of its economy. In a letter on his Internet homepage, the official...

KOREAN REINSURANCE'S NET PROFIT FALLS IN 2004.
May 2, 2005... SEOUL, May 2 (Yonhap) Korean Reinsurance Co. said Monday its net profit reached 55.2 billion won (US$55.4 million) in fiscal 2004, down 15 percent from a year earlier. Revenue rose 6.7 percent to 2.5 trillion won in fiscal 2004, which ended...

DAEWOO INTERNATIONAL WINS US$61 MLN ORDER.
May 2, 2005... SEOUL, May 2 (Yonhap) Daewoo International Corp., a South Korean trading company, said Monday it has received a US$61 million order to build a steel-making facility for a Saudi Arabian company, along with POSCO Engineering & Construction Co. ...

DONGWON FINANCIAL TO LOAN 50 BLN WON TO SECURITIES AFFILIATE.
May 2, 2005... SEOUL, May 2 (Yonhap) Dongwon Financial Holdings said Monday that it will loan 50 billion won in operating expenses to its affiliate Korea Investment and Securities Co. The loan will run to May 10, 2007, with Dongwon's affiliate obliged to...

(LEAD) SAMSUNG HEAVY WINS LNG ORDERS OF 383 BLN WON.
May 2, 2005... SEOUL, May 2 (Yonhap) Samsung Heavy Industries Co., the world's third-largest shipbuilder, said Monday that it has won a 383 billion won (US$383 million) contract from Chevron Transport Corporation Ltd. to build two liquefied natural gas (LNG)...

(LEAD) SEOUL SHARES END HIGHER ON TECHNICAL REBOUND.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korean stocks ended higher Monday on a technical rebound after four-day losing streak and a rise in U.S. stocks last week. The U.S. dollar rose against the Korean won. The benchmark Korea Composite Stock Price...

S. KOREAN WATCHDOG PROBING ALLEGED EMBEZZLEMENT AT TRUST FIRM.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korea's top financial regulator said Monday it is investigating allegations an employee at Dongwon Investment Trust Management Co. embezzled company funds of 900 million won (US$902,700). The employee, whose...

G10 AGRICULTURE COUNTRIES TO COOPERATE TO DEFEND INTERESTS AT DDA.
May 2, 2005... SEOUL, May 2 (Yonhap) Members of the world's leading agriculture importing countries will work together to defend their national interests at the the Doha Development Agenda (DDA) talks, the government said Monday. It said that...

SAMSUNG GROUP CHIEF STRESSES DEVELOPING HUMAN RESOURCES.
May 2, 2005... SEOUL, May 2 (Yonhap) Samsung Group chairman Lee Kun-hee on Monday stressed that developing excellent human resources is the key to survival in the future. "In the 21st century, competition among countries or corporations can boil down to a...

S. KOREAN BOND YIELDS ON MAY 2, 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) Today (%) Previous Day (%) Change (%P) 1-year TB 3.64 3.64 0.00 3-year TB 3.78 3.76 +0.02 10-year TB 4.57 ...

(LEAD) GM DAEWOO'S APRIL SALES RISE 12.2 PCT.
May 2, 2005... SEOUL, May 2 (Yonhap) -- GM Daewoo Auto & Technology Co., South Korea's fourth-largest automobile manufacturer, said Monday it sold 90,852 units in April, up 12.2 percent from a year ago. Exports amounted to 81,289 units, up 13.5 percent,...

NONGSHIM'S NET PROFIT UP 15.2 PCT IN Q1.
May 2, 2005... SEOUL, May 2 (Yonhap) Nongshim Co., South Korea's largest producer of instant noodles, said Monday its net profit increased 15.2 percent from a year earlier to 37.1 billion won (US$ 37.21 million) in the first quarter. Sales, however, fell...

SEOUL SHARES RISE MARGINALLY ON WALL STREET RALLY.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korean stocks gained slightly Monday afternoon as investor sentiment was boosted by an overnight rally in the U.S. stock market. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.52 points, or...

S. KOREA'S HOUSEHOLD DEBT ISSUE ON THE MEND.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korea's household debt problem is passing through its worst phase and is on the mend, although many low-income households continue to face worsening financial positions, the central bank said Monday. "The...

S. KOREAN INFORMATION MINISTER VISITS DOKDO.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korea's Information and Communication Minister Chin Dae-je made an unscripted visit to the country's easternmost islets of Dokdo on Monday to check communication services there, a ministry official said. "Minister...

MAJORITY OF S. KOREAN FIRMS MULL RESTRUCTURING.
May 2, 2005... SEOUL, May 2 (Yonhap) Nearly two-thirds of South Korean companies are considering restructuring their operations in an effort to increase profits, a poll said Monday. According to the survey of 300 manufacturers in Seoul by the Korea Chamber...

STRONG WON TO CUT CURRENT ACCOUNT SURPLUS, GROWTH RATE: REPORT.
May 2, 2005... SEOUL, May 2 (Yonhap) The Korean won is highly overvalued against the U.S. dollar, threatening to trim the country's current account surplus and undermine its economic growth, a leading private think tank said Monday. The local currency was...

SAMSUNG HEAVY WINS LNG ORDERS OF 383 BLN WON.
May 2, 2005... SEOUL, May 2 (Yonhap) Samsung Heavy Industries Co., the world's third-largest shipbuilder, said Monday that it has won a 383 billion won (US$383 million) contract from a U.S. firm to build two liquefied natural gas (LNG) carriers. The value...

HANA BANK BECOMES S. KOREA'S NO. 1 ASSET MANAGER.
May 2, 2005... SEOUL, May 2 (Yonhap) Hana Bank, South Korea's third-largest lender, said Monday it has become the leader of the nation's asset management industry thanks to its acquisition of Daehan Investment & Securities Co. last week. Hana reached an...

(LEAD) DEMAND FOR S. KOREAN STEEL TO RISE 2 PCT IN 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) -- Demand for South Korean steel products will likely gain 2 percent from a year ago to 63.55 million tons this year, a trade association said Monday. "Steel demand is expected to rise modestly, given signs of an...

SEOUL SHARES RISE ON BARGAIN HUNTING, WALL STREET RALLY.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korean stocks rose Monday morning as foreign investors snapped up bargains after a four-day losing streak. An overnight rally on Wall Street also bolstered market sentiment. The benchmark Korea Composite Stock...

(LEAD) S. KOREAN ONLINE RETAILER INTERPARK TURNS TO PROFIT IN Q1.
May 2, 2005... SEOUL, May 2 (Yonhap) -- South Korean online retailer Interpark Co. said Monday it swung to a net profit in the first quarter on the back of recovering domestic demand. Net profit came to 2.4 billion won (US$2.41 million) in the...

(2ND LD) S. KOREAN CONSUMER PRICES GAIN 0.1 PCT IN APRIL.
May 2, 2005... SEOUL, May 2 (Yonhap) -- South Korean consumer prices rose at the slowest clip in five months in April as a drop in utility fees and housing prices offset a rise in oil and food costs. The consumer price index rose 0.1 percent to 117.9 last...

SHINHAN BANK CHIEF URGES CHANGE TO SURVIVE COMPETITION.
May 2, 2005... SEOUL, May 2 (Yonhap) The head of Shinhan Bank, South Korea's fourth-largest lender, called Monday on its employees to change their mindset in order to meet diversifying customer needs and survive heated competition. "We can only...

S. KOREA'S OVERSEAS CONSTRUCTION ORDERS SURGE 44 PCT THIS YEAR.
May 2, 2005... SEOUL, May 2 (Yonhap) Overseas construction orders won by South Korean companies jumped more than 40 percent in the first four months of 2005 from a year earlier thanks mainly to a rebound in the global market, government data showed Monday. ...

SAMSUNG MOVES NOTEBOOK COMPUTER LINES TO CHINA.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korean technology giant Samsung Electronics Co. said Monday it has completed the move of its notebook computer manufacturing facilities to China. Samsung said it shut down its high-end notebook computer plant in...

SEOUL TO RAISE TAXES ON DIESEL STARTING IN JULY.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korea's finance ministry said Monday that it plans to raise taxes on diesel starting in July in an effort to reduce air pollution. Under a draft energy-tax bill, the price of diesel, mostly used for buses and...

KOREA INTERBANK OFFERED RATE (KORIBOR).
May 2, 2005... SEOUL, May 2 (Yonhap) The Korea Interbank Offered Rates (KORIBOR) as posted by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, at 11:00 a.m. Monday. Term Today (%) Previous Day (%) 1-W ...

KOOKMIN TARGETS 1 TLN WON IN 2005 EARNINGS: BANK CHIEF.
May 2, 2005... SEOUL, May 2 (Yonhap) The head of Kookmin Bank, South Korea's largest lender, said Monday his bank aims to record a net income of 1 trillion won (US$1 billion) this year, as its first quarter earnings beat market expectations. "The first...

SEOUL SHARES START HIGHER ON WALL STREET RALLY.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korean stocks opened higher Monday on last week's rally in the U.S. stock market. The benchmark Korea Composite Stock Price Index (KOSPI) was up 6.03 points, or 0.66 percent, at 917.33 in the first 15 minutes of...

S. KOREAN STEEL DEMAND PREDICTED TO RISE 2 PCT IN 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) South Korea's domestic demand for steel products will likely gain 2 percent from a year ago to 63.55 million tons this year, a trade association said Monday. "Steel demand is expected to rise modestly, given signs of...

MIRAE ASSET TIPPED AS PRIME BIDDER FOR SK LIFE.
May 2, 2005... SEOUL, May 2 (Yonhap) Mirae Asset Group, a mid-size South Korean asset manager, is likely to be chosen as the preferred bidder for SK Life Insurance Co., the troubled insurance unit of SK Group, sources said Monday. "Mirae Asset may be...

EDITORIAL from the Hankyoreh on Monday May 2, 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) What's to gain from upsetting North Korea? At a time when discord between North Korea and the United States over the North Korean nuclear issue is at a new peak, the rhetoric between the two countries is making...

EDITORIAL FROM THE JOONGANG DAILY ON MONDAY MAY 2, 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) By-elections take Uri to task The governing Uri Party suffered a complete defeat in the by-elections on Saturday. The party did not claim a single seat after the by-elections that elected six legislators, seven...

(LEAD) S. KOREAN CONSUMER PRICES GAIN 0.1 PCT IN APRIL.
May 2, 2005... SEOUL, May 2 (Yonhap) -- South Korean consumer prices rose at the slowest clip in five months in April as a drop in utility fees and housing prices offset a rise in oil and food prices. The consumer price index rose 0.1 percent to 117.9 last...

EDITORIAL FROM THE KOREA HERALD ON MONDAY MAY 2, 2005.
May 2, 2005... SEOUL, May 2 (Yonhap) Stunning defeat for Uri The ruling Uri Party suffered a humiliating and devastating defeat in the National Assembly and local by-elections held Saturday. The main opposition Grand National Party won five of the...

TOP HEADLINES IN MAJOR KOREAN NEWSPAPERS.
May 2, 2005... SEOUL, May 2 (Yonhap) -- The following are the top headlines in major Korean newspapers on Monday May 2, 2005. Vernacular dailies -- Ruling party fails to win a single seat in by-elections(Kyunghyang Shinmun) -- Ruling party suffers a...

(LEAD) Parties approve compromised bill on review of modern history.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korea's ruling and main opposition parties on Tuesday collaborated to approve a bill that seeks to reexamine the country's modern history dating back to the Japanese colonial era. The Act on Review of History...

(LEAD) Junior prosecutors to meet on trial reform proposals.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korea's junior prosecutors will likely meet early next week to discuss a set of proposals by a presidential task force to reform the trial system, a move they argue is aimed at limiting their investigative power,...

U.N. Development Program, experts in N. Korea for trade forum.
May 3, 2005... PYONGYANG, May 3 (KCNA-Yonhap) -- Representatives of international organizations, including the United Nations Development Program (UNDP) and foreign trade experts, arrived in North Korea Tuesday to take part in a trade forum, the North's...

Cuban Delegation Visits N. Korea.
May 3, 2005... PYONGYANG, May 3 (KCNA-Yonhap) -- A Cuban military delegation arrived in North Korea Tuesday, the North's state media reported. The (North) Korean Central News Agency did not elaborate on the purpose of the visit or give a detailed itinerary...

(LEAD) N. Korea may conduct nuclear test next month: Russian lawmaker.
May 3, 2005... MOSCOW, May 3 (Yonhap) -- North Korea may conduct a nuclear test next month, a top Russian parliamentary leader warned on Tuesday, saying he will visit Pyongyang this week to discuss the matter. "There are grounds now to believe that North...

N. Korea may conduct nuclear test next month: Russian lawmaker.
May 3, 2005... MOSCOW, May 3 (Yonhap) -- North Korea may conduct a nuclear test next month, a top Russian parliamentary leader warned on Tuesday, saying he will visit Pyongyang this week to discuss the matter. ``There are grounds now to believe that North...

(4th LD) SK Telecom decides to sell handset unit to Pantech.
May 3, 2005... SEOUL, May 3 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, said Tuesday it decided to sell a substantial stake in its handset manufacturing unit SK Teletech Co. to Pantech Co. "The board meeting has just decided to approve the...

Junior prosecutors to meet on trial reform proposals.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korea's junior prosecutors will likely meet early next week to discuss a set of proposals by a presidential task force to reform the trial system, a move they argue is aimed at limiting their investigative power,...

(3rd LD) SK Telecom decides to sell handset unit to Pantech.
May 3, 2005... SEOUL, May 3 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, said Tuesday it decided to sell a substantial stake in its handset manufacturing unit SK Teletech Co. to Pantech Co. "The board meeting has just decided to approve the...

N. Korean officials leave for Moscow to attend war ceremony.
May 3, 2005... PYONGYANG, May 3 (Yonhap) -- Two North Korean officials left for Russia Tuesday to take part in May 9 celebrations of the World War II victory anniversary, the North's state media reported. Ri Jong-san, a vice marshal of the (North) Korean...

Parties approve compromised bill on review of modern history.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korea's ruling and main opposition parties on Tuesday collaborated to approve a bill that seeks to reexamine the country's modern history dating back to the Japanese colonial era. The Act on Review of History...

Economic value of 'Korean wave' reaches US$1.42 bln.
May 3, 2005... SEOUL, May 3 (Yonhap) -- The popularity of South Korean pop culture in Asian countries helped create 1.43 trillion won (US$1.42 billion) in value added for the economy in 2004, a trade association said Tuesday. The amount contributed to...

Minister regrets student protest against Samsung chief.
May 3, 2005... SEOUL, May 3 (Yonhap) -- Information and Communication Minister Chin Dae-je expressed regret Tuesday that a Korea University ceremony to award an honorary doctorate degree to Samsung Group Chairman Lee Kun-hee was disrupted by a group of...

Assembly approves revision to allow easier access to N. Korea.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korea's National Assembly on Tuesday approved a revision to the law on inter-Korean exchange and cooperation that allows easier and increased exchanges between the two Koreas. The Assembly voted 230-3,...

S. Korea asks N. Korea to come to Asian table tennis event in Jeju.
May 3, 2005... SHANGHAI, May 3 (Yonhap) -- South Korea's table tennis representative said here Tuesday that he made an official request to his North Korean counterpart to participate in the Asian championships hosted by Jeju Island in August. South and...

S. Korea, New Zealand to resume joint military exercise.
May 3, 2005... POHANG, South Korea, May 3 (Yonhap) -- South Korea and New Zealand will begin joint military training in the East Sea on Wednesday, naval authorities here said Tuesday. The nine-day training will focus on enhancing anti-submarine...

(2ND LD) JAPANESE ACTIVISTS ARRIVE AT OKI ISLANDS NEAR DOKDO,.
May 3, 2005... GOV'T SAYS SEOUL, May 5 (Yonhap) -- Four Japanese right-wing activists who have set sail to attempt a landing at South Korea's Dokdo islets, have arrived at Japan's Oki Islands, 157 kilometers from their planned destination, a government...

TODAY IN KOREAN HISTORY.
May 3, 2005... May 3 1967 -- Park Chung-hee, a former Army major-general who seized power in a 1961 coup, is appointed to his second term as president. 1990 -- Ewha Womans University in Seoul establishes the country's first female football team. ...

S. KOREA'S FOREIGN RESERVES RISE IN APRIL ON WEAK U.S. DOLLAR.
May 3, 2005... SEOUL, May 3 Asia Pulse -- South Korea's foreign reserves climbed by US$929 million in April from a month earlier, as a weak U.S. dollar boosted the value of non-dollar assets, the Bank of Korea (BOK) said Tuesday. The country's foreign...

Foreign ministers of S. Korea, Vietnam discuss cooperation.
May 3, 2005... SEOUL, May 3 (Yonhap) -- Foreign Minister Ban Ki-moon met his Vietnamese counterpart Tuesday and discussed ways of boosting cooperation between the two countries, officials said. Nguyen Dy Nien arrived on Monday for a four-day visit. He...

Roh urges state-run firms to innovate for enhanced competitiveness.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korean President Roh Moo-hyun on Tuesday urged the nation's state-run corporations to innovate to become more effective than private companies. "We have calls for privatization of state-run companies, but we...

(LEAD) Daum's Q1 operating profit drops 24.1 pct on expansion costs.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korean Internet portal operator Daum Communications Corp. said Tuesday its operating income for the first quarter dropped 24.1 percent from a year earlier to 8.4 billion won (US$8.37 million). The company...

(LEAD) Seoul shares end lower ahead of Fed meeting.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korean stocks finished lower Tuesday, led by program selling, as investor sentiment was dented ahead of a U.S interest rate decision. The U.S. dollar gained against the Korean won. The benchmark Korea...

S. Korean Bond Yields on May 3, 2005.
May 3, 2005... Today (%) Previous Day (%) Change (%P) 1-year TB 3.63 3.64 -0.01 3-year TB 3.76 3.78 -0.02 10-year TB 4.53 4.57 -0.04 2-year MSB 3.75...

Today in Korean history.
May 3, 2005... May 4 1899 -- Streetcar services begin between Dongdaemun, a castle gate leading to eastern Seoul, and Heunghwamun, the front gate of Gyeonghui Palace in central Seoul. The revolution in electricity-powered transportation soon sparked...

SK Telecom holds board meeting to decide on sale of handset unit.
May 3, 2005... SEOUL, May 3 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, is holding a board meeting to decide whether to sell a substantial stake in its handset manufacturing unit SK Teletech Co. to Pantech Co., a company spokesperson said...

S. Korean visitors to North up 72 percent in 2004: NIS.
May 3, 2005... SEOUL, May 3 (Yonhap) -- Over 26,000 South Koreans visited North Korea last year due in part to expanding inter-Korean civilian exchanges, the nation's top spy agency said Tuesday. A total of 26,213 South Korean people visited the North...

(LEAD) South Korea's auto sales rise 14.6 pct in April.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korean auto sales remained strong in April, the major domestic manufacturers said Tuesday, but they suffered a prolonged setback in local sales. Overall, sales rose 14.6 percent year-on-year to 438,901 units...

Seoul shares end lower ahead of Fed meeting.
May 3, 2005... SEOUL, May 3 (Yonhap) -- South Korean stocks finished lower Tuesday, led by program selling, as investor sentiment was dented ahead of a U.S interest rate decision. The U.S. dollar gained against the Korean won. The benchmark Korea...