YON - Yonhap News Agency of Korea articles from October 2003

YON - Yonhap News Agency of Korea archives from October 2003

(LEAD) Prof. Song Joined Politburo of N.K. Workers' Party: NIS.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The nation's top spy agency has requested the prosecution to indict the prominent dissident scholar Song Doo-yul for violating the rigid National Security Law by joining the powerful Politburo of North Korea's ruling...

(2nd LD) Roh Calls for Stronger South Korean Military Power.
October 1, 2003... By Kim Hyung-jin SEOUL, Oct. 1 (Yonhap) -- South Korean President Roh Moo-hyun called for stronger military power Wednesday as thousands of combat-ready troops marched through downtown Seoul in a massive Armed Forces Day parade. ...

Kumho Group Pushes to Form Professional Football Team.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Kumho Group is pushing for the formation of a Seoul-based professional football (soccer) team, a Kumho official told Yonhap News Agency on condition of anonymity Wednesday. Three Kumho executives had talks with...

Seeking Dollars, N.K. Invites More South Koreans to Pyongyang.
October 1, 2003... By Shim Sun-ah SEOUL, Oct. 1 (Yonhap) -- Last month, a group of 114 South Korean tourists landed at a Pyongyang airport for the first sightseeing tour of the city by civilians since the division of the Korean Peninsula half a century ago....

NIS Accuses Song of Joining Politburo of N.K. Workers' Party.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The nation's top spy agency has requested the prosecution to indict the prominent dissident scholar Song Doo-yul for violating the rigid National Security Law by joining the powerful Politburo of North Korea's ruling...

Automakers Revise Annual Goals For Domestic Sales Downward.
October 1, 2003... BUSAN, Oct. 1 (Yonhap) -- Stung by a protracted slump in consumption, South Korea's major automakers have all revised their forecasts downwards for domestic sales this year. Top executives of Hyundai Motor, Kia Motors, GM Daewoo Auto &...

Korean Diplomat Says N. Korean Defectors in China Need Protection.
October 1, 2003... GENEVA, Oct. 1 (Yonhap) -- A South Korean diplomat to the United Nations here said on Tuesday that the refugee status given to people fleeing from their country should be broadened, implicitly indicating that North Koreans illegally residing...

(LEAD) SK Corp. Union Declares Start of Dispute.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Unionists of the nation's largest oil refiner, SK Corp., decided Wednesday to enter procedures to start a dispute to protest their management's "insincere" attitude in labor negotiations. The decision was made...

FTA With Japan Predicted to Result in US$40.8 Bln Trade Surplus.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- A South Korean free trade agreement (FTA) with Japan is projected to bring about as much as US$40.8 billion in annual trade surplus in the long term, according to a Japanese report Wednesday. In a span of one or...

Equity-investment Ceiling Aims to Better Chaebol Governance.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea's top anti-trust regulator said Wednesday the current limit on chaebol equity investments is designed to make their governance structures more transparent. Subsidiaries of South Korean chaebol, or...

Korean Synthetic Fiber Sector Undergoes Facility Upgrades.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea's leading synthetic fiber manufacturers are in the midst of implementing facility upgrades in pursuit of higher value-added products, industry sources said Wednesday. Korean synthetic fiber makers are...

LG to Invest 2.1 Tln Won in Electronics R&D Next Year.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The LG Group has decided to outlay 2.1 trillion won (US$1.82 billion) for its research and development projects in electronics next year. The investment, fixed at a meeting of the conglomerate's top managers...

Almost a Third of 'Industrial Trainees' Desert Designated Firms.
October 1, 2003... DAEJEON, Oct. 1 (Yonhap) -- More than 30 percent of foreign migrant workers who entered the nation under the government's industrial trainee program deserted their designated workplaces, a lawmaker said Wednesday. Since 2001, a total of...

Government to Hire Fewer New Teachers Next year.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- With the completion of its two-year plan to improve the quality of teaching in the nation's schools, the government plans to reduce the number of new teachers it hires by 50 percent in 2004 compared with figures for...

KSE Revises Business Regulations.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The Korea Stock Exchange (KSE) said Wednesday it has revised its business regulations and trading practices for more market transparency and expediency, and will implement them later this year or early next year. ...

Samsung Electronics' Under Yoon JY has Best Stock Performance.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Yoon Jong-yong, vice chairman of Samsung Electronics, ranks first among top domestic managers in how well stocks performed while they served as CEO, while Lee Jae-woong, president of Daum Communications, is first...

Gov't to Create 300,000 Jobs for Senior Citizens.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- In preparation for an aging society,the South Korean government plans to create 300,000 jobs for senior citizens by 2007. The Ministry of Health and Welfare said Wednesday that it will operate a resource center...

S. Korean Cell Phone Shipments Likely to Be Up 10 Pct in Q3.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korean mobile phone shipments are expected to total 3.52 million units in the third quarter, a 10.34-percent growth from the second quarter, according to a preliminary figures compiled from industry statistics....

Department Store Sales Shrink for 8th Consecutive Month.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Department stores in South Korea have reported a decrease in sales for the eighth consecutive month since February because of poor consumer sentiment in the wake of a business slump, business insiders said Wednesday....

No. of LG Telecom Subscribers Falls Slightly in September.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- LG Telecom, South Korea's second-tier mobile operator, said Wednesday its number of subscribers fell slightly in September to 4.74 million. In a regular public notice, the faltering wireless carrier said a total...

North Korean Ferry Leaves Japanese Port.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- A North Korean ferry left Japan's Niigata port on Wednesday as scheduled, carrying 175 passengers and cargo, a Japanese TV broadcaster reported. The NHK broadcasting company said the Mangyongbong-92 left for the...

Daewoo Heavy to Export Ship Engines to Malaysia.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Daewoo Heavy Industries & Machinery Ltd., said Wednesday it has signed a contract to export ship engines to Malaysia's largest shipbuilding company, PSC Group. Daewoo explained it will provide the customer with...

S. Korea's Exports Hit All-time High of US$17.2 Bln in September.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea registered the biggest-ever monthly export total of slightly over US$17.2 billion in September, the Ministry of Commerce, Industry and Energy said Wednesday. The country's trade surplus amounted to...

S. Korean Parliamentary Speaker Meets Vietnamese Leaders.
October 1, 2003... HANOI, Oct. 1 (Yonhap) -- South Korean National Assembly Speaker Park Kwan-yong met Vietnamese officials here Wednesday for talks on the North Korea nuclear issue and enhancing bilateral ties. On his last leg of a 12-day trip to China,...

South Korea beat Hong Kong 1-0 in Asian Olympic Preliminary Match.
October 1, 2003... Hong Kong, Oct.1 (Yonhap) -- A 54th-minute header by Park Yong-ho gave South Korea a 1-0 win over Hong Kong in an Asian Olympic preliminary match Wednesday. The 181-meter Park scored by connecting a corner kick from the right side by Choi...

South Korea, Qatar Agree to Open Air Route.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea and Qatar have agreed to begin regular commercial flights between their respective capitals in late October, the Ministry of Construction and Transportation said on Wednesday. At a bilateral...

Business Lobbying Group Supports Troop Dispatch to Iraq.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The Federation of Korean Industries (FKI), South Korea's largest business organization, has come out in support of the proposed dispatch of combat troops to Iraq, citing potential economic benefits. In a statement...

Hynix's Survival Hinges on Additional Investment: KDB Head.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The head of state-run Korea Development Bank (KDB) said Wednesday the long-term survival of troubled Hynix Semiconductor Inc. will depend on whether it can make additional investments. "Although the chip...

Asiana to Resume Flights on Ulsan-Jeju Route.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Asiana Airlines, one of South Korea's two national flag carriers, said Wednesday it will resume flights between Ulsan, a southeastern industrial city, and the country's southernmost resort island of Jeju on Oct....

National Security Advisor Leaves for Japan over Nuclear Issue.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- National Security Adviser Ra Jong-il left for Tokyo Wednesday for talks with Japanese officials on North Korea's nuclear weapons program, the presidential Cheong Wa Dae said. Ra will stay in Tokyo until Friday,...

Gwangju Opens Flight Service with Bangkok.
October 1, 2003... Gwangju, South Korea, Oct. 1 (Yonhap) -- Irregular passenger flight service will begin next month between this provincial city and Bangkok, Thailand, a local tourism association said Wednesday. The twice weekly service will link Gwangju...

(LEAD) Seoul, Hanoi Agree to Make Efforts to Resolve Nuclear Row.
October 1, 2003... HANOI, Oct. 1 (Yonhap) - South Korea and Vietnam agreed to make joint efforts Wednesday to resolve the international standoff over North Korea's nuclear weapons program, South Korea's parliamentary speaker said. Park Kwan-yong met President...

Korean Stocks Rise on Strong Individual Buying.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korean stocks rose due to the strong buys by individuals Wednesday with the main index passing the 700-point mark. The Korea Composite Stock Price Index (KOSPI), the barometer of the main Korea Stock...

Mixed Fortunes for Koreans in European Champions League.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea's Lee Chun-soo was celebrating Wednesday (KST) after helping Real Sociedad to their second straight win in Group D of the European Champions League against Turkish side Galatasaray. Korea's three other...

Lawmakers Abandon Plan to Visit N.K. Amid Sovereignty Controversy.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- A planned trip to North Korea by a National Assembly committee was cancelled Wednesday after Pyongyang limited the number of legislators allowed to visit, claiming the group violated the country's sovereignty by...

(LEAD) South Korea Holds Ceremony, Parade to Mark Armed Forces Day.
October 1, 2003... By Kim Hyung-jin SEOUL, Oct. 1 (Yonhap) -- The South Korean military displayed Wednesday a wide range of high-tech weaponry, including its two latest U.S.-made missiles, in a large-scale parade commemorating the 55th anniversary of its...

N.K. Urges U.S. to Withdraw Nuclear Weapons from S. Korea.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- North Korea accused the United States Wednesday of keeping nuclear weapons in South Korea and demanded that they be withdrawn immediately. In September, 1991, former U.S. President George Bush announced that all...

South Korea Holds Ceremony to Mark Armed Forces Day.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The South Korean military marked the 55th anniversary of its foundation Wednesday with a large-scale ceremony that displayed a wide range of high-tech weaponry. Ten U.S. Apache attack helicopters gave an aerial...

FM Yoon Urges N.K. to Respond Positively to U.S. Overtures.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- South Korea's foreign minister urged Pyongyang Wednesday to respond positively to U.S. efforts to resolve the standoff over the communist state's nuclear weapons program. "The United States is studying ways to...

N.K. to Impose 14 Pct Corporate Tax Rate at Kaesong Complex.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- North Korea said Wednesday that foreign firms which invest in an industrial complex being built in its city of Kaesong will be subject to an annual corporate income tax rate of 14 percent. Under a resolution...

S.K. to Consider Int'l Consensus when Deciding Troop Dispatch: Roh.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- President Roh Moo-hyun said Wednesday his government will consider "building consensus in the international community" as an important factor in making a decision on whether to send troops to Iraq. "We are of the...

Korean Stocks-Closing Indexes on Oct. 1.
October 1, 2003... KOSPI 704.29 (Up 6.77) KOSDAQ 45.19 (Up 0.33) (THROUGH ASIA PULSE)

North Korea May Alter 'Juche' Ideology: Minister Jeong.
October 1, 2003... NEW YORK, Sept. 30 (Yonhap) -- North Korea may amend its ruling ideology of "juche" (self-reliance) since it has shown lots of changes by partially adopting market economic principles, South Korean Unification Minister Jeong Se-hyun said...

GM Daewoo Considering Importing Opel Speedster.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- GM Daewoo Auto & Technology Co., South Korea's third-largest car maker, said Wednesday it has been deliberating over importing Opel's sports car, the Speedster. "We put Speedster on display at the Busan International...

S. Korea Should Send Troops to Iraq Unconditionally: Amb. Han.
October 1, 2003... WASHINGTON, Sept. 30 (Yonhap) -- The top South Korean envoy to the United States said on Tuesday his nation should send troops to Iraq without demanding something in return from the United States. Speaking to lawmakers during a parliamentary...

U.S. Not Hastening to Draw up Proposal for N.K.: Senior Diplomat.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The United States is not rushing to draw up a proposal to offer to North Korea at the next round of multilateral nuclear talks, a senior South Korean diplomat said Wednesday. "I hope the U.S. proposal will be put...

Won Ends Lower vs. Dollar; Key Bond Yields Plunges.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The South Korean won dropped 1.80 to the dollar to finish at 1,151.90 Wednesday on the yen's weakness and worries over state intervention. The country's benchmark bond yield, meanwhile, tumbled 0.11 percentage point...

Daewoo Bus Co. to Be Normalized After Weeklong Walkout.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Production at Daewoo Bus Corp. will be normalized from Thursday after a weeklong partial strike, as management and labor agreed to raise wages by 11.08 percent Wednesday morning. The unionized workers went on a...

Won Opens Lower against Dollar Wednesday.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The South Korean won started weaker against the dollar Wednesday morning as a result of Japan's intervention in its currency market the previous day. The local currency began at 1,152.30 won to the greenback, down...

SK Corp. Union Declares Suspension of Labor Negotiations.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The union of SK Corp., the nation's largest oil refiner, declared Wednesday it has no intention of continuing labor negotiations with the firm's management. "We have been involved in some 30 rounds of unsuccessful...

Busan International Motor Show Starts, With Korean Cars Leading.
October 1, 2003... BUSAN, Oct. 1 (Yonhap) -- The second Busan International Motor Show (BIMOS) opened for an 11-day run at the city's main convention center with a press day on Wednesday, with major domestic and foreign carmakers displaying convertible concept...

Samsung Loses Top Position in Desktop Monitor Market to Dell.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Samsung Electronics lost its No. 1 position in the global desktop monitor market to U.S. firm Dell Inc. during the second quarter, according to data released Wednesday by Display Search, a market research agency. ...

Seoul Stock Markets Open Lower.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Korean shares began weaker Wednesday on a slash in the U.S. stock markets. The Korea Composite Stock Price Index (KOSPI), or the barometer of the main market, opened 7.05 points, or 1.01 percent, lower at 690.47....

KT Corp. Offers Wireless Internet Access in Incheon Int'l Airport.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- KT Corp., South Korea's biggest fixed-line company, said Wednesday it launched wireless Internet access in Incheon International Airport, the main gateway to the country. The wireless Internet or Wi-Fi, widely known...

24 KOSDAQ-registered Firms See Profits Dwindle.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Twenty-four South Korean companies listed on the over-the-counter stock market KOSDAQ saw their profitability worsen in the fiscal year that ended on June 30, the market's operator said Wednesday. The KOSDAQ Stock...

Market Responds Positively to KT Corp's Restructuring Plan.
October 1, 2003... By Kim Deok-hyun SEOUL, Oct. 1 (Yonhap) -- Shares of KT Corp., South Korea's largest fixed-line telecom operator, rose 3.64 percent, or 1,650 won, as of 11:10 a.m. Wednesday morning after the company's announcement Tuesday that it plans...

Kookmin Head Hints at Loss for 3rd Quarter.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- The chief of Kookmin Bank, South Korea's largest lender, hinted Wednesday that the bank might have posted a net loss in the third quarter. "Kookmin had to put up an additional 500 billion won (US$433.5 million)...

South Korea Set To Open High-Speed Rail Service In April.
October 1, 2003... By Yoo Cheong-mo SEOUL, Oct. 1 (Yonhap) -- South Korea is putting the final touches on its first bullet train project that will go into service six months later, promising to bring "revolutionary" changes to the daily lives of its people. ...

Top Headlines in Major Korean Newspapers - Oct. 1, 2003.
October 1, 2003... Kyunghyang Daily News - Decision to Send Troops to Iraq Imminent Korea Daily News - Gov't to Decide Whether to Send Troops This Month Kukmin Daily - Gov't Decides to Allow Government Officials' Union to Join Umbrella Group Dong-A...

Shinhan Bank Might Miss Net Profit Target This Year.
October 1, 2003... SEOUL, Oct. 1 (Yonhap) -- Shinhan Bank, Korea's fifth largest lender, said on Wednesday that it might have difficulty achieving its net profit goal of 550 billion won (US$476.85 million) this year because of the economic recession. Shin...

LG-digital investment.
October 1, 2003... LG on Wednesday decided to invest 1 trillion won (US$867 million) in the fields of digital TVs, displays and mobile phones next year. The figure is a 17-percent increase from this year. (THROUGH ASIA PULSE)

Profile of South Korea's Tourism Industry.
October 1, 2003... By Hwang Seok-joo SEOUL, Oct. 1 (Yonhap) -- Swelling South Korean departures and dampened foreign arrivals are continuously encroaching on South Korea's current account surpluses accrued from other industrial sectors. State-run tourism...

NORTH KOREA THIS WEEK NO. 261 (October 2, 2003).
October 2, 2003... TOPIC OF THE WEEK 'DPRK Has Not Made Any Promises Regarding Next Round of Six-way Talks' North Korea on Sept. 29 said it has not made "any promises regarding the next round of six-way talks, while asking the next day for the...

NORTH KOREA THIS WEEK NO. 261 (October 2, 2003).
October 2, 2003... CHRONOLOGICAL REVIEW (Sept. 25- Oct. 1) September 25 The (North) Korean Central News Agency complains that some UN organizations are now putting on hold or shelving the approval of regular aid projects for North Korea due to the...

(3rd LD) N. Korea Says It Finishes Reprocessing Spent Fuel Rods.
October 2, 2003... PYONGYANG, Oct. 2 (KCNA-Yonhap) -- North Korea said Thursday it has successfully finished reprocessing about 8,000 spent fuel rods and diverted plutonium from them to make nuclear bombs. South Korea disbelieved the North's claim, citing...

Seoul Urges Washington to Take Conciliatory Stance on N. Korea.
October 2, 2003... WASHINGTON, Oct. 1 (Yonhap) -- South Korea's point man on North Korea urged the United States Wednesday to take a more conciliatory stance toward North Korea to resolve the nuclear standoff. In a meeting with South Korean correspondents here,...

Korean Song-Streaming Web Site's Fate Doomed by Court Order.
October 2, 2003... By Kim Deok-hyun SEOUL, Oct. 1 (Yonhap) -- A popular Korean music-streaming Web site, called Bugs, has been crippled by Wednesday's court ruling that banned the site from delivering some 10,000 new songs over the Internet. The ruling...

Seoul Regrets N.Korea's Announcement of Completion of Reprocessing.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- South Korea expressed regret Thursday over North Korea's announcement that it has finished reprocessing about 8,000 spent fuel rods and diverted plutonium from them to make nuclear bombs. "The government thinks it...

Hyundai Construction to Form Int'l Meeting to Redeem Iraqi Revenue.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Hyundai Engineering & Construction Co. is going to form a group of international corporate creditors as a means of collecting its outstanding construction income, valued at US$1.10 billion (about 1.32 trillion won),...

(2 LD) Korean-German Prof. May Offer Apology for Working for North Korea: Lawyer.
October 2, 2003... SEOUL, Oct. 1 (Yonhap) -- A South Korean-born German professor may offer a public apology for his alleged North Korean connections and promise to change his ideology, his lawyer said Wednesday. Song Doo-yul, a philosophy professor at...

U.S. Wants South Korea to Send Troops to Mosul, Official Says.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Washington wants Seoul to dispatch infantry troops to the city of Mosul in northern Iraq to replace its airborne division there by early next year, a high-ranking South Korean military official indicated on Thursday....

SK Group, FKI Concerned Over Possible Arrest Of Chairman Son.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- South Korea's business community was on edge Thursday after the prosecution summoned SK Group Chairman Son Kil-seung over allegations he was involved in the creation of a massive slush fund by an SK firm. Son, who...

Prof. Song Denies Allegation He's N.K. Workers Party Member.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- The prominent dissident scholar Song Doo-yul denied on Thursday the allegation he is a member of the powerful Politburo of North Korea's ruling party. In a press conference, Song, a professor at Muenster University...

(LEAD) N. Korea Says It Finishes Reprocessing Spent Fuel Rods.
October 2, 2003... PYONGYANG, Oct. 2 (KCNA-Yonhap) -- North Korea said Thursday it has finished reprocessing about 8,000 spent fuel rods and diverted plutonium from them to strengthen its "nuclear deterrence." North Korea's Foreign Ministry statement, carried by...

Korean Stocks Rise for Third Consecutive Day.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- South Korean stocks rose for the third consecutive day on the back of the bullish U.S. stock market Thursday with the main index recovered the 710-point range. The Korea Composite Stock Price Index (KOSPI), the...

Activists Urge Gov't to Scrap 1990 Memorandum with U.S.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Local activists are protesting a Memorandum of Agreement (MOA) that South Korea signed with the U.S. in which it agrees to pay the entire cost of U.S. forces' relocation, saying that the Korean government is going...

Chronology of 2002-2003 North Korean Nuclear Crisis.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- The following is a chronology of major events associated with the 2002-2003 North Korean nuclear crisis. Year 2002: Oct. 3-5 -- U.S. Assistant Secretary of State Kelly visits Pyongyang. Oct. 16 -- Kelly says...

GNP Calls For Song to be Punished for Security Law Violations.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Opposition leader Choe Byung-yul demanded Thursday the prosecution mete out stiff punishment to South Korean-born dissident scholar Song Doo-yul for his connections with North Korea. In a press conference,...

Class Action System Likely To Pass Parliament within Two Weeks.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Deputy Prime Minister and Minister of Finance and Economy Kim Jin-pyo said Thursday that a bill on the introduction of a securities-related class action system in South Korea is expected to pass the National Assembly...

LG Telecom Struggles With Falling Market Share.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- LG Telecom of South Korea can't seem to stop its customers from defecting to other competitors in the nation's saturated wireless service market. As of the end of September, the number of LG Telecom subscribers...

Market Value of Apartments in Seoul Exceeds That of Listed Firms.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- The market value of apartments in Seoul, estimated at 345.46 trillion won (US$299.86 billion), has far exceeded the value of the 687 firms listed on the main bourse at 294.14 trillion won ($255.31 billion), Neonet...

Four Former Units Of Bankrupt Daewoo Group to Soon Go Up For Sale.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- Four former units of the bankrupt Daewoo Group will be sold to domestic and foreign investors shortly, the state-run Korea Asset Management Corp. (KAMCO) said Thursday. During a parliamentary inspection of...

South Korea Calls N. Korea's Nuke Announcement a Negotiating Ploy.
October 2, 2003... SEOUL, Oct. 2 (Yonhap) -- South Korea dismissed as a negotiating tactic Thursday's announcement by North Korea that it finished reprocessing spent nuclear fuel rods and diverted plutonium from them to strengthen its "nuclear deterrence." ...

S. Korean Lee Sets New Asian Home Run Record of 56.
October 2, 2003... DAEGU, Oct. 2 (Yonhap) -- South Korean slugger Lee Seung-yup of the Samsung Lions set a new Asian home run record of 56 in the season's last game against the Lotte Giants Thursday. The 26-year-old first baseman blasted a leadoff solo shot...