Local paper headlines_September 15

1. Chosun Ilbo

- During a summit at the White House on Thursday, US President Bush relayed his message to Korean people that the US is responsible for maintaining security on the Korean peninsula, and the size of US army in Korea and the date to transfer wartime command control would be decided in close consultation with the Korean government. He added, “President Roh and I agreed that the issue(wartime command control) shouldn’t be politicized.”

- President Bush said President Roh strongly asked to include Korea in the US VWP and they decided to discuss this issue in a swift manner.

- Japanese Mainichi paper reported that Tokyo would freeze North Korean bank accounts activated in Japan as early as this month. If the plan went ahead, financial assets would be freezed, and key financial transactions such as withdrawal and overseas wiring would be blocked.

-AFP reported that Foreign Minister Ban Ki-moon again won in the second straw poll to test the waters as to who would be elected the next Secretary General of the United Nations. He received 14 approvals and one disapproval.

-IMF expected Korea to grow 4.3 per cent next year, the second lowest among 12 emerging Asian economies.

2. Hanokook Ilbo

- The Ministry of Information and Technology is to introduce a pilot program to designate ‘Internet-Off Day’ in order to prevent youngsters from excessively using internet. Information Minister Roh Jun-hyung told reporters yesterday “the ministry will actively promote preventive measures for young people’s internet addiction and cramp down on online gambling sites

- Kim Jun-young, president of OB Co., dismissed the rumor that Lotte Chilsung Beverage Co. is making moves to buy out the company as just a speculation spurned off by foreign investment banks. He said the fundamental of the company is very strong with operating profit rate of 35 per cent and the market prospect is also bright since the demand for household beer is increasing.

- Eland strongly resisted the yesterday’s decision by Fair Trade Commission to sell off three Carrefour branches in six months, saying there is practically no potential buyer out there even if it wants to sell them, thereby only delaying the buy-out process.

- The Federation of Korean Industries argued yesterday the abolition of inter-affiliate investment ceiling and the easing of various investment restrictions in the Metropolitan area will ultimately lead to the creation of investment worth W27,000 bn.