What's up Korea July 4

- President Roh pushed ahead with his plan to appoint Kim Byong-joon, former chief presidential secretary for national policy, to education minister despite political opposition including his own Uri party. His decision seems to show President’s determination to stick to his policy line even after the miserable defeat in the local election.

- In the past, Japan was known for her ‘rich nation, poor people’ not least because of its ‘killing prices’ whereas Korea was believed to have ‘poor nation, but better-off people.’ But this trend doesn’t appear to be the case any more. People who traveled to Japan often find out prices in Japan is cheaper than Korea. But this trend does not indicate Korean economy is stronger than that of Japan of which national income per head is $37,050, 2.6 times Korea's $14,000.

- The government is said to have asked North Korea to confirm the lives of five missing high school students believed to have been abducted by the North, but only to receive the answer from it, saying it can’t confirm.
- The government asked Beijing to recognize ‘Made in Gaesung’ products as ‘Made in Korea’ and Beijing is said to send a positive signal on that matter, said a high-ranking government official yesterday. The two countries are having close consultation behind doors.

- Kim Byong-joon, education minister appointee, said in an interview with Chosun Ilbo, “this is very hard time for me, but I take this opportunity to get judged.” “Policy can be a success or a disaster. I use this chance to look back on what I have done.”

- More and more health-conscious consumers are looking for organic groceries. According to a research done by AC Nielsen, more than 95 per cent of respondents have experience in buying organic food. But what is worrying is the production, certification, and distribution of such food is not carefully managed. The number of organic farmhouse that an official is assigned to supervise amounts to more than 500.

- Nexon, a game company, plans to make the stock market debut at Jasdaq as early as this year. An official close to the situation said Nexon Japan, which holds all stock shares of Nexon, made a final decision to get listed at Jasdaq and is currently in the talk with two foreign securities companies over IPO lead manager.

- Local construction companies are doing very well overseas. GS Construction and LG International entered into a contract worth $1.21 bn in Oman. The Ministry of Construction and Transportation said the overseas construction order in the first half of this year stands at 156, which is translated into $8.58 bn, up $1.37 bn (22%) from the same period last year.

- Lee Ho-woong, Uri Party lawmaker, said in a radio interview, “we are not thinking a further reduction in property tax, but try to keep reducing transaction tax.” “For houses worth less than W600 million, we have already announced measures to lessen property tax burden even though we aren’t sure whether that is up to people’s expectation.”

- A monthly magazine, ShinDong-a quoted former Prime Minister Goh Kun as saying, “I can make alliance with Park Geun-hye.” It is his first time to reveal his willingness to form an alliance with her. The former leader of the ruling party said last April that Mr. Goh seemed just a perfect man for the GNP.

- The Ministry of Gender Equality and Family is planning to introduce a measure to give financial assistance of W400,000 to a low come divorced woman when she files a lawsuit against her former husband for expenses for bringing up a child. An official of the ministry said 78 per cent of divorced single mothers don’t get child care expenses from her former husband, which leads to three times child poverty rate in a divorced family than normal family.

- Park Chan-wook, a film director of Old Boy and Kind Keumja-si, is elected a judge for the 64th Venice International Film Festival.

- The labor union of Daewoo Construction Company physically blocked KeumHo’s employees from going to the 19th floor for an inspection. The inspection team with 150 members stayed in the lobby for 30 minutes but had to go back due to labor union’s fierce opposition.

- According to military sources, Korea Air Force asked Boeing for a purchase delay of three F-15K fighter jets which was supposed to arrive in Korea on July 13 because the cause for the recent accident involving the fighter jet has not been clearly identified.