YON - Yonhap News Agency of Korea articles from October 2008

YON - Yonhap News Agency of Korea archives from October 2008

Trustworthy army.
October 1, 2008... (EDITORIAL from the Korea Herald on Oct. 1) - The Korean Armed Forces celebrates the 60th anniversary of their founding in a parade in Seoul. The event will remind the people of the republic that they owe the peace and security they enjoy now...

Energy diplomacy.
October 1, 2008... (EDITORIAL from the Korea Times on Oct. 1) - Eighteen years have passed since South Korea established diplomatic ties with Russia. The two countries have so far focused mainly on economic cooperation. Monday's summit between President Lee...

The army 60 years on.
October 1, 2008... (EDITORIAL from the JoongAng Daily on Oct. 1) - Today is the 60th anniversary of the founding of the Korean army. Our army, which was once heavily dependent on the United States even for small arms, is now the world???s ninth strongest army,...

S. Korea to provide liquidity to smaller firms.
October 1, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's financial watchdog said Wednesday the government will extend liquidity of about 4.3 trillion won (US$3.56 billion) to smaller firms in a bid to help them ease cash shortages. "The government plans to...

Number of crimes committed by USFK remains steady: report.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- The number of crimes committed by the U.S. Forces Korea (USFK) has remained steady on an annual basis over the last five years, a report by the National Police Agency said Tuesday. The findings submitted ahead of the...

(2nd LD) Coast Guard officers beaten, held captive by Chinese crew.
October 1, 2008... MOKPO, South Korea, Sept. 30 (Yonhap) -- Four South Korean Coast Guard officers had been captured and assaulted by Chinese fisherman just two days before another one was killed during a boarding operation, authorities here said Tuesday. The...

(News Focus) Lee concludes summit diplomacy with four superpowers.
October 1, 2008... SAINT PETERSBURG, Russia, Sept. 30 (Yonhap) -- South Korean President Lee Myung-bak wound up his three-day official visit to Russia on Tuesday, capping off his summit diplomacy with all four superpowers surrounding the Korean Peninsula. Lee,...

Lee proposes Northeast Asian economic community.
October 1, 2008... SAINT PETERSBURG, Russia, Sept. 30 (Yonhap) - South Korean President Lee Myung-bak on Sunday proposed the formation of a Northeast Asian economic community by promoting tripartite cooperation projects with Russia and North Korea, including the...

Relations with N. Korea will improve after current cool spell: official.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- Inter-Korean relations that have cooled in recent months will improve and become more concrete in the near future, South Korea's vice unification minister said Tuesday. "The current impasses should be viewed as a...

(2nd LD) Hill says nuke talks in very tough phase.
October 1, 2008... SEOUL/INCHEON, Sept. 30 (Yonhap) -- Chief U.S. nuclear envoy Christopher Hill said Tuesday that talks with North Korea were in a very difficult situation, and he was cautious about predicting the outcome of his rare trip this week to Pyongyang...

Lee optimistic about tripartite economic cooperation with Russia, N. Korea.
October 1, 2008... MOSCOW/SAINT PETERSBURG, Sept. 30 (Yonhap) -- South Korean President Lee Myung-bak said Tuesday that his ongoing official visit to Russia has resulted in important diplomatic achievements in terms of energy resources, economics and security...

Two more Chinese snacks found tainted with melamine.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- Korea's food watchdog said Tuesday that two more snacks imported from China were found to be contaminated with the industrial chemical melamine, bringing the local number of tainted food items to six amid a...

Gov't to take steps to reduce fallout of currency option derivatives.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- The government is planning to announce measures to reduce the fallout of currency option derivatives that are threatening many small- and medium-size enterprises (SMEs), a senior policymaker said Tuesday. Vice...

Market should be monitored by gov't: Kim Dae-jung.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- The government should constantly manage and monitor the market to promote the market economy and keep it healthy, former South Korean President Kim Dae-jung said Tuesday. "Businessmen are not always good people; they...

N. Korea must comply with Nuclear Non-proliferation Treaty: official.
October 1, 2008... VIENNA, Sept. 30 (Yonhap) -- North Korea must take steps to comply with the 2005 Nuclear Non-proliferation Treaty to ensure peace and stability on the Korean Peninsula, a senior South Korean official said Tuesday. In a keynote speech made at...

S. Korea to issue 58.26 tln won worth of Treasuries next year.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea plans to issue around 58.26 trillion won (US$48.5 billion) worth of Treasuries next year, the Finance Ministry said Tuesday. The envisioned debt sale is compared with 53 trillion won to be raised through...

Industrial parks for S. Korean firms to be set up near Moscow: gov't.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- Industrial parks for South Korean firms are to be set up near Moscow to help businesses expand their presence in the rapidly growing economy, the government said Tuesday. The Ministry of Knowledge Economy said it...

Lee leaves for Saint Petersburg after summit trip to Moscow.
October 1, 2008... MOSCOW, Sept. 30 (Yonhap) -- South Korean President Lee Myung-bak left for Saint Petersburg on Tuesday after completing his three-day visit to Moscow, where he held summit talks with Russian President Dmitry Medvedev to upgrade bilateral...

Seoul shares end lower on U.S. bailout plan rejection.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korean stocks edged down Tuesday after tumbling more than 5 percent as investors were spooked by U.S. lawmakers' rejection of a government proposal to rescue the teetering financial sector, analysts said. The...

(3rd LD) S. Korea's current account deficit hits record high in August.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea's current account deficit reached a record high in August as its goods balance posted the largest shortfall in 12 years, the central bank said Tuesday. The current account shortfall reached US$4.71...

Time for Bank of Korea to cut rates, Moody's says.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea's central bank needs to swiftly cut its key interest rates to stimulate the domestic economy and shield itself from fallout emanating from the U.S. financial crisis, a research unit of Moody's Investors...

(3rd LD) S. Korea to take 'necessary' measures to tackle dollar shortage problem.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea's response to the U.S. failure to endorse an emergency rescue plan for financial markets is far too "sensitive," and the government here will take "necessary" measures to ease concerns over liquidity in...

(2nd LD) S. Korean currency plunges to 64-month low on U.S. bailout rejection.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- The South Korean currency tumbled to a 64-month low against the U.S. dollar on Tuesday, spooked by the U.S. Congress' rejection of an emergency rescue plan many observers expect would have saved staggering global...

Justice minister heads to Europe for talks on cyber crime, extradition.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- Korea's justice minister embarked on a week-long trip to Europe Tuesday to help enhance cooperation with European countries in the fight against Internet crime and the arrest and extradition of suspects. Kim...

S. Korea's industrial output growth slumps in August.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea's industrial output grew at the slowest pace in 11 months in August amid sluggish domestic demand and spreading concerns over a global slowdown, a government report showed Tuesday. According to the report...

N. Korean leader sends congratulatory message to Chinese President.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- The reportedly ailing North Korean leader Kim Jong-il sent a message to Chinese President Hu Jintao and two other top Beijing officials Tuesday to congratulate them on their country's 59th anniversary. "We send our...

BOK sees high inflation, slowing growth in H2.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- South Korea's central bank said Tuesday that domestic inflation will remain high during the second half on a weaker won despite recent retreats in oil prices. "Although oil prices are expected to be on a downward...

Opposition lawmakers to visit N. Korea.
October 1, 2008... SEOUL, Sept. 30 (Yonhap) -- A group of opposition Democratic Party lawmakers and their aides will visit the inter-Korean joint industrial complex in Kaesong, a North Korean border city, this week, officials said Tuesday. "North Korea invited...

Unrealistic budget.
October 2, 2008... (EDITORIAL from the Korea Herald on Oct. 2) - The administration is scheduled to send its 2009 budget request to the National Assembly today, setting in motion an arduous process of passing it through the National Assembly. But the budget...

2009 Budget bill: Fiscal policy focuses on boosting growth potential.
October 2, 2008... (EDITORIAL from the Korea Times on Oct. 2) - Next year's budget announced by the Lee Myung-bak government Tuesday is designed to create more jobs and raise the country's growth potential. It reflects well President Lee's much-avowed promise of...

Greenbelt paradox.
October 2, 2008... (EDITORIAL from the JoongAng Daily on Oct. 2) - The government has decided to remove development bans on 308.5 square kilometers (119.1 square miles) of greenbelt, an area half the size of Seoul, by 2020. President Lee Myung-bak earlier talked...

S. Korea's FX reserves fall by US$3.53 bln in September.
October 2, 2008... SEOUL, Oct. 2 (Yonhap) -- South Korea's foreign exchange reserves fell by US$3.53 billion in September mainly because foreign exchange authorities supplied dollars to the swap market to ease financial jitters, the central bank said Thursday....

Foreign bank branches' H1 earnings more than quadruple.
October 2, 2008... SEOUL, Oct. 2 (Yonhap) -- Foreign bank branches in South Korea saw their earnings more than quadruple in the first half from a year ago mainly because their investment in local bonds boosted interest income, the watchdog said Thursday. The...

Gov't finds melamine in New Zealand milk product.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- The government said Wednesday that it found the chemical melamine in a milk-based product imported from New Zealand. The Korea Food and Drug Administration (KFDA) said the industrial chemical melamine, which can cause...

(2nd LD) Former president says inter-Korean summit declaration 'abandoned'.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's former President Roh Moo-hyun said Wednesday the agreement that he signed in a summit with North Korean leader Kim Jong-il a year ago has been "abandoned" by Seoul. "It is an abandoned declaration," Roh...

S. Korean shipyards have lax technology security control: report.
October 2, 2008... BUSAN, Oct. 1 (Yonhap) -- South Korean shipyards' security regimes are relatively lax, a concern as vital technology may be targeted for theft, a joint government report said Wednesday. The report compiled by experts in the Ministry of...

Hill visits Pyongyang for showdown in nuclear talks.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Top U.S. nuclear envoy Christopher Hill began a trip to North Korea on Wednesday, reportedly bringing with him a new proposal for Pyongyang on a plan to verify its claims about nuclear programs. Hill, the assistant...

S. Korea to post annual trade deficit this year: experts.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea is expected post an annual trade deficit this year after staying in the black for over a decade, government and civilian experts said Wednesday. The prediction comes after the country's balance of trade...

(2nd LD) Divided Koreas to hold military talks Thursday.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Officials from the two Koreas will meet this week at the joint security area inside the demilitarized zone dividing the countries in what will be their first military dialogue in over eight months, the Defense Ministry...

S. Korean M&A volume falls 18 pct through Q3: report.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Merger and acquisition (M&A) volume declined 18 percent in South Korea in the first nine months of the year from a year earlier due to the economic slowdown, a report showed Wednesday. According to the report by the...

SKT gains more customers than rivals in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- SK Telecom Co., South Korea's leading mobile carrier, gained more customers than its rivals in September, maintaining its lead in the country's saturated telecom market, according to data released by mobile carriers...

S. Korean economy to grow at low 4-pct range: minister.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's economy is expected to grow in the low 4-percent range this year amid growing concerns over financial instability and a global economic slowdown, Finance Minister Kang Man-soo said Wednesday. The latest...

Hyundai Heavy wins US$1.7 bln deal for power plant, desalination facility.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Hyundai Heavy Industries Co., the world's leading shipyard, said Wednesday it has won a US$1.7 billion deal to build a power plant and a desalination facility in Bahrain. The deal with a consortium led by France's Suez...

Prosecutors seek five-year jail term for suspected female N.K. spy.
October 2, 2008... SUWON, South Korea, Oct. 1 (Yonhap) -- Prosecutors on Wednesday demanded a five-year jail term for a suspected female North Korean agent who allegedly came to the South disguised as a defector. Suwon District Prosecutors charged Won Jeong-hwa,...

Kookmin Bank sells stake in Indonesian bank for US$309 mln.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's top lender Kookmin Bank said Wednesday it has sold its 13.89 percent stake in PT Bank International Indonesia (BII) to Malaysia's leading bank for US$309 million. The stake sale to Malayan Banking Berhad...

S. Korean FM meets new U.S. ambassador.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- New U.S. Ambassador to Seoul Kathleen Stephens made an introductory call on Foreign Minister Yu Myung-hwan Wednesday. The two began their half-hour meeting with a conversation on a planned program for former U.S. Peace...

Gov't confirms 14 more S. Korean fishermen kidnapped by N. Korea.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea added 14 former fishermen to its official list of nationals presumed to have been kidnapped by North Korea decades ago, the Unification Ministry said Wednesday. The move brought to 494 the total number of...

Lee orders measures to stabilize foreign exchange market.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- President Lee Myung-bak on Wednesday instructed his economic policymakers to release additional foreign currency holdings and take other measures to stabilize the local foreign exchange market. Lee also ordered civil...

Seoul shares end lower on institutional selling.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korean stocks inched down Wednesday as institutional selling overshadowed revived hopes that U.S. lawmakers will salvage a rejected bailout plan, analysts said. The local currency rose against the U.S. dollar....

S. Korean auto sales fall 1.7 pct in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korean auto sales declined in September as deepening U.S. financial woes have sapped overseas demand amid stubbornly weak domestic consumption, the automakers said Wednesday. Sales fell 1.7 percent last month...

HIV/AIDS cases surge among seniors: report.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- The number of HIV/AIDS cases in South Korea rose by more than 20 percent over the past few years, with a surprisingly sharp increase in infections among senior citizens, a government report showed Wednesday. The number...

S. Korean currency rises against U.S. dollar on U.S. bailout hopes.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- The South Korean currency rebounded from a 64-month low against the U.S. dollar on Wednesday on revived hopes that U.S. lawmakers will salvage a rejected bailout plan for the troubled financial sector, dealers said....

SK Energy finds crude in Brazilian oil field.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's top refiner said Wednesday that a consortium of which it is a member has discovered crude in an oil field off the coast of Espirito Santo in southeastern Brazil. The crude volume has yet to be confirmed,...

Lee urges military to deal with new security threats.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- President Lee Myung-bak on Wednesday urged South Korea's military forces to expand their role in coping with terrorism, human rights violations, natural disasters and other common threats to mankind. Speaking at a...

N. Korea lashes out at Seoul's chief unification policy researcher.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- North Korea lashed out Wednesday at the new head of South Korea's state think tank on inter-Korean reunification policy, calling him an "extremely vicious" anti-North Korean hysteric for his recent skeptical remarks...

Gorbachev says U.S. responsible for North Korea nuclear deadlock.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Mikhail S. Gorbachev, the former leader of the Soviet Union and a Nobel Peace laureate, on Wednesday criticized North Korea for backtracking on a disarmament deal, but laid equal blame on the United States for not...

Hyundai Motor's vehicle sales inch up in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Hyundai Motor Co., South Korea's top auto maker, said Wednesday its September sales rose 0.6 percent from a year ago, helped by robust overseas demand. Hyundai sold 190,227 units in September, compared with 189,031 a...

GM Daewoo's auto sales gain 4.8 pct in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- GM Daewoo Auto & Technology Co., the South Korean unit of U.S. automaker General Motors Corp., said Wednesday its auto sales for September rose 4.8 percent from a year earlier. GM Daewoo sold 71,380 vehicles last...

Ssangyong Motor's vehicle sales fall 6.5 pct in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Ssangyong Motor Co., the South Korean unit of China's Shanghai Automotive Industry Corp., said Wednesday its September vehicle sales fell 6.5 percent from a year earlier. Ssangyong sold 8,950 vehicles last month....

S. Korea's consumer price growth slows to 5.1 pct in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's consumer prices grew at a slower pace in September than in the previous month as oil and commodity prices showed signs of stabilization, a government report showed Wednesday. The consumer price index...

S. Korea to submit U.S. FTA bill for parliamentary approval next week.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea plans to submit a free trade pact with the United States for parliamentary approval next week, a high-ranking trade official said Wednesday. Seoul and Washington signed the free trade agreement (FTA) in...

Kia Motors posts 12.2 pct decline in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Wednesday its September vehicle sales slipped 12.2 percent from a year earlier, hit by weak demand overseas. Kia sold a total of 96,734 vehicles last...

Main opposition party seeks ouster of food agency chief over melamine scare.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's main opposition party on Wednesday called on the government to dismiss its food agency chief, blaming him for a lack of safety measures amid an escalating scare over tainted food products from China....

S. Korea recovers over 92 tln won from 1997 bailout.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea has so far collected more than half of the public funds spent to bail out financial companies hit by the 1997 financial meltdown, the financial watchdog said Wednesday. As of end-August, the government has...

Renault Samsung's auto sales rise 27.8 pct in September.(Financial report)
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Renault Samsung Motor Corp., the South Korean unit of French automaker Renault SA, said Wednesday its September vehicle sales rose 27.8 percent from a year ago. Renault Samsung sold 16,606 vehicles last month. Exports...

S. Korea seeks to suspend imports of harmful food products.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's health authorities said Wednesday they are seeking to suspend imports of food products found to have been contaminated with harmful ingredients amid a growing scare over Chinese dairy. The Korea Food and...

Seoul stages rare show of strength in massive rally.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Thousands of soldiers and citizens gathered in Seoul Wednesday as the country marked the 60th founding anniversary of its military in a ceremony featuring a parade of troops and previously undisplayed missile systems....

S. Korean society aging rapidly: report.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- The number of South Koreans aged 65 years and older grew to just over 10 percent of the nation's population, a government report showed Wednesday, pointing to the country's rapid transition towards an "aged society."...

(2nd LD) S. Korea's trade deficit falls to US$1.9 bln in September.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's trade deficit narrowed to US$1.9 billion in September from $3.81 billion the month before due mainly to falls in crude oil and raw material prices, a government report showed Wednesday. Exports rose 28.7...

Activity spotted near N. Korean nuclear test site: source.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Increased activity has been spotted near the site where North Korea set off a nuclear device two years ago, prompting suspicions Pyongyang could be repairing the facility for a second test blast, an informed source...

Seoul shares trade lower on institutional selling.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korean stocks traded lower late Wednesday morning as institutional selling overshadowed revived hopes that U.S. lawmakers will salvage a rejected bailout plan, analysts said. The benchmark Korea Composite Stock...

S. Korea's economy may slow to 3.8 pct in 2009, researcher says.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's economic growth is expected to slow to 3.8 percent next year, following a projected 4.2 percent growth for 2008 as the world economy is reeling from a slowdown fueled by the impact of the U.S.-sparked...

S. Korea's global competitiveness edges up in 2008: think tank.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's national competitiveness rankings edged up one notch to 22nd place this year, thanks to improved manufacturing conditions, a private think tank said Tuesday. In its annual report, the Institute of...

Korean manufacturers vulnerable to currency risk.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- A majority of South Korea's manufacturers failed to hedge against the volatile exchange rate, a poll showed Wednesday, as the local currency plunged to a 64-month low the day before. In the survey of 500 South Korean...

Tesco's Korean unit aims for sales of 12.7 tln won in 2010.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- British supermarket company Tesco Plc's South Korean venture said it aims to generate sales of 12.7 trillion won (US$10.5 billion) in 2010 as it has completed a takeover of smaller rival Homever. Samsung Tesco Homeplus...

Ranking N.K. officials inspect local province amid leader's absence.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- A group of ranking Pyongyang officials inspected farms in a rural province, North Korea's state-run radio said Wednesday, while their top leader Kim Jong-il has remained out of the public eye for over a month. "Cabinet...

S. Korea to provide liquidity to smaller firms.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's financial watchdog said Wednesday the government will extend liquidity of about 4.3 trillion won (US$3.56 billion) to smaller firms in a bid to help them ease cash shortages amid global financial turmoil....

Lee returns home after official trip to Russia.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- President Lee Myung-bak returned home on Wednesday after winding up his three-day official visit to Russia, during which South Korea and Russia upgraded their bilateral relations to a strategic cooperative partnership...

Kia Motors says partial strikes cost 13,382 vehicles in lost output.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Wednesday sporadic partial strikes by its unionized workers this year over annual wage negotiations cost 13,382 vehicles in lost production. About 28,000...

Microsoft plans video-streaming service in S. Korea.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- U.S. software giant Microsoft Corp. plans to launch a Korean-language version of its Internet video-streaming service, the company's South Korean unit said Wednesday. Microsoft recently began beta testing of the Korean...

Seoul shares edge down after strong start.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korean stocks started stronger Wednesday but soon lost ground as institutional selling overshadowed revived hopes that U.S. lawmakers will salvage a rejected bailout plan, analysts said. The benchmark Korea...

Currency market to stabilize on falling oil prices: official.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- The volatility of South Korea's currency market is expected to ease on falling oil prices and their positive impact on the nation's current account balance, a senior finance ministry official said Wednesday. "With...

S. Korea's national debt to grow 4.2 pct this year.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- South Korea's national debt is expected to grow 4.2 percent this year mainly due to an overall increase in the issuance of state bonds, the government said Wednesday. State liabilities will amount to 311.6 trillion won...

Korea Express eyes sales of 2.1 tln won this year.
October 2, 2008... SEOUL, Oct. 1 (Yonhap) -- Korea Express Co., the nation's top logistics company, said Wednesday that it is aiming at sales of 2.1 trillion won (US$1.74 billion) this year. In a regulatory filing, the company also said it has set a target of 100...