other important headlines_September 15

[Chosun]- Contrary to the country’s low birth rate, the banking sector is seeing the opposite. In the past two-three years, the number of female employees in banks, who take maternity leave, is skyrocketing. Hanabank has seen 309 female employees giving birth in 2004, 400 in 2005, and 450 as of July 2006. In the country’s largest Kookmin Bank, 442 female workers temporarily left the bank for childcare in 2004, and 454 last year. The trend is thanks to the fact that the industry provides much better benefits than any other industry does, with up to two years maternity leave, full salary for 5-6 months, and 30-50 per cent salary for the remaining months.

[Yonhap] The ministry of information and technology said this morning it is investigating into the allegation of LG Telecom that the company illegally provided mobile phone subsidies during August 25 to September12. If convicted, the company is expected to be fined for the wrongdoing.

[MBN News] The beer sale is struggling. In 2003 the beer market size was estimated to be around W3470bn with 106 bottle consumption per capita, but from last year beer consumption has been on the wane. The industry blames the sluggish sale on country’s overall lackluster economic performance. But experts point out that unlike highly competitive soju companies, the beer industry is lacking innovation and aggressive marketing, which partly makes consumers turn away from the liquor.

[E-daily] Kwon O-kyu said the government would share information with tax haven countries in order to more actively respond to international tax evasion. “The government will shore up measures against increasingly intellectual tax evasion practices,” he said.

[Hankyoreh] Kim Yoon-kyu, former vice president of Hyundai Asan, appeared in the official meeting for the first time this year and made keynote speech in ‘Inter-Korean Economic Cooperation Policy Symposium,’ held by Seoul Peace Unification Forum in which he assumes President. “For the past 17 years I aided the passionate works of the late Chairman Chung Joo-young and helped him pioneer inter-Korean economic cooperation projects, of which I feel very proud.” “I hope consistent efforts can lead to two Koreas’ prosperity and ultimately the realization of unification,” he said.