Other important headlines_September 25

- [Yonhap] The Board of Audit and Inspection warned Industrial Bank to sell off five financial subsidiaries which are Daewoo Securities, KDB Capital, KDB Partners, KDB Asset, and Korea Infra Management. Industrial Bank, however, says it will not sell Daewoo Securities, KDB Capital, and KDB Asset, saying the BAI’s warning is just a warning, not legally bounding.

- [No Cut News] Uri party lawmakers argued in a press conference this morning that it would not be good to extend the stay of Zaitun army in Iraq. They have recently visited Iraq to see whether security there becomes stabilized and concluded the US and the Iraqi government have still been providing only limited security.

-[E-daily] SK Telecom announced this morning that the number of its user passed W20m last weekend, 10 years and 9 months since a mobile phone based on CDMA technology was world-first introduced in January 1996.

-[Money Today]Kang Woo-seok, a movie director of ‘Silmido,’ ‘The Korean Peninsula’ and ‘The Public Enemy,’ is creating a ‘Kang Woo-seok Fund’ with the size of W50bn joining hands with Shinbo Venture Capital. The director said “the fund aims at dealing with financial problems of the Korean movie market, especially the chronic problem of small budget movies, which have difficulties even in finding a theater to show, and we will manage the fund in order to grapple with such problems.”

- [YTN] Nautilus Institute for Security and Sustainability confirmed that the report which included the remark of North Korean Deputy Foreign Minster Kang Seok-Ju was a hypothetical statement. Kang was reported to have said North Korea possessed more than 5-6 nuclear weapons.

- [Yonhap] A government source said Korea and the US agreed to exclude the gambling sector from the list of FTA negotiation items.

- [E-daily] Music download site Jukeon (Jukeon.com) introduced music download service which charges onlyW10 per a song. The company allows its users to download up to 1000 songs for W10,000 per month. The existing service charge of the company is W500 per song. The digital music industry is rapidly transforming itself into a pay market.