what's up Korea? July 3

- Choeng Wa Dae’s plan of appointing Kim Byong-joon, former chief presidential secretary for national policy, to education minister faces opposition from Uri party. Mr. Kim led a controversial property policy, which is, the ruling party believes, the crucial factor behind the local election defeat.

- A revised law will allow a spouse to inherit 50 per cent of the property of the late husband or wife. The existing law confines a spouse’s bequest to 15 per cent of that of a child so the more the number of child, the less a spouse inherits.

- From next month, a native doesn’t have to submit a departure card to the immigration bureau. A landing card has been already abolished last November.

- It is reported that People’s Solidarity for Participatory Democracy has bought real estate worth W2.5 bn for a new company building. The civic group had been engaged in an active promotion to collect budget for the re-location and in the process invited criticism when it asked donations from big companies.

-. On June 30, 13 individual labor unions including that of Hyundai Motors, the nation’s most militant union, decided to form a union network, which will make the total number of union members at 87,000.

- All market indicators point to sluggish performance of the construction industry. According to the national statistics agency, the amount of construction orders in May dropped 17.9 per cent from last year, continuing losing streak for the third consecutive months.

- Banks will resume mortgage loan programs this month. But the interest rate for mortgage loan is about to rise 1 per cent due to CD (Certificate of Deposit) rates increase, and the abolishment of various preferential interest rate programs that banks have been providing.

- The Uri party leader Kim Kuen-tae said “management control of the so-called ‘national corporation’ such as Posco, Kepco, Kookmin Bank, Samsung Electronics, and SK Telecom, should be protected. Kim said in an interview with Maekyung, “for the sake of national economy, a ‘national corporation’ is necessary.” “We need to provide a proper environment for them so the management of those companies feel secured and focus on their control.”

- While the government is set to conduct a maritime survey in waters around Dokdo from July 3 to 17, Tokyo is said to respond by doing the same survey in waters surrounding the controversial islets. An official close to the situation said “if a Japanese ship conducts a survey near Dokdo which belongs to Korea’s EEZ, we have no choice but to physically respond to that matter.”

- It is reported that four South Korean abductees are still alive in North Korea. Choi Seong-yong, president of Families of Abductees by North Korea, said on July 2 “I heard from a North Korean close to the abduction matter that four South Koreans kidnapped when they were high school students and Kim In-chul who abducted in 1968 are still alive in North Korea.”

- The budget for meals of solider will rise W195 to W5,000 from next year. They will be provided with more nutritionally healthy foods. The Ministry of Defense said it will reduce the amount of rice from the current 620g to 570g from next year because young solders don’t like rice.

- BBC reported Ahn Jung-hwan is said to be attracting interest from three English Premiership clubs along with Hearts.

- China’s QQ, a look-ailke of Matiz of Dawoo, is competing with Kia’s Morning in the Singaporean market. China’s Shinwha news reported China’s Chery company started to sell its compact car QQ in Singapore with the price tag of $21,000 (W19.6 million), the same price with Kia’s Morning.

- Some experts point out that when rainy season starts in earnest, Cheong Gye Cheon can flood and endaner the safety of pedestrians.