Local paper headlines_September 6

1. Chosun Ilbo

- A group of 700 Korean intellectuals announced their strong opposition to the government’s initiative to retain wartime operational control from its long-time ally US. In a statement, they said, “independent wartime command cost a lot of money so it should be discussed only after we enter the ranks of developed countries. We are not ready for that.” “It won’t be late to discuss the issue after North Korea abandons its nukes program and we have real peace on the peninsula,” goes the statement.

- China denies the rumor of Kim’s visit to the country in a press briefing, saying “China has no plan right now to have North Korean leader Kim Jong-il’s visit.” Meanwhile a high-ranking government official familiar with the issue said “the special train believed to carry Kim Jong-il is still staying in North Korea.”

- It is reported that the Ministry of Culture and Tourism ignored the internal report warning the possible serious consequences the introduction of the Sea Story gambling machine might cause to ordinary people’s livelihoods. The internal report prepared by Korea Game Development and Promotion Institute points out that 43 per cent of the users are low-income people with a monthly income of less than W2 m.

- Samsung Electronics is slowly changing its production system from the conveyer belt to the cell type production because its in-house study finds out that cell-type production system increase the productivity about 30 per cent.

2. Maeil Business Daily

- A special report by two senior economists of Citi Group says international debate on North Korea mailyi focuses on its politics but the regime’s economic reform is much more advanced than popularly known. In the conclusion, “given the achievement of North Korea’s economic system reform, it is unlikely that North Korean economy will have internal-factor-triggered collapse.”

- Retirement grants will be mandatory in a company with less than four employees as early as 2008.

- As early as next year, financially-stable local savings banks will be allowed to issue their own banker’s check. There are about 1,500 small-loan financial institutions nationwide. It is expected the law revision can relive borrowing inconvenience for low-income families from big banks.

- 84 per cent of Korean CEOs answered that they have experience of feeling insecure in places where they don’t have access to internet, according to a Maekyung survey on 100 CEOs. 52 per cent said they always bring their laptops with them when they go on a business trip and 86 per cent said they visit portal sites at least once a day. 75 per cent don’t run their personal mini-hompy or blog due to busy schedule.