Local paper headlines_September 21

1. Chosun Ilbo

- A US defense official made it clear that the US would confirm the time of wartime command transfer at the upcoming SCM which will be held next month. Asked whether the US hurriedly transfers the control, he, who asked not to be named, said “that Korea is determined to take responsible for security themselves is based on national emotion so if we drag on such issue it will make the relations between the two countries strained.”

- A US official backed the report that President Roh had asked US Treasury secretary Henry Paulson to wind up the investigation into North Korea’s BDA bank account. He added “the US was keeping the comment confidential, but now that Lee Tae-shik, Korea Ambassador to the US, has already mentioned it so we can confirm that.”

- President Roh puts his foot down in the matter of appointing a new head of the Constitutional Court. He is set to ask the National Assembly to reopen confirmation hearing for the nominee.

- GNP lawmaker Lee Kye-kyung revealed yesterday companies in Kaesung industrial park had some problematic foreign exchange dealings with North Korea for the last 18 months. South Korean companies give their payment in Korean Won to North Korea via Woori Bank Kaesung branch, and the branch gives the money in dollar to the North, which might be exploited for money laundering or illegal funding.

2. Maeil Business Daily

- Chinese authorities discovered fake Korean-brand products which have been secretly churned out at a plant in a Chinese city. According to LG Electronics, 400 fake LG air conditioners and 430 TVs, which are worth W170 m, were found out by the Chinese police.

- Kim Ki-moon, President of the Council of Korean Company at Kaesung Industrial Park, said “we need to have authority over North Korean workers. Right now North Korea fully controls personnel management such as employment, reward and fire, which makes Korean companies hard to do business there.”

- Pohang construction union workers finally finished their 80-day strike yesterday as 67.6 per cent of unionists agreed on a tentative compromise put forward by management and labor.

- President Roh countered ‘growth-first policy’ mainly argued by business circle, saying that “the time when economic growth resolves lack of jobs and promote people’s well-being nears its end.”