Local paper headlines_October 9

- Chinese President Hu Jintao and Japanese Prime Minister Shinzo Abe at their summit meeting in Beijing yesterday expressed concern over instability on the Korean peninsula and promised to coordinate their efforts for North Korean denuclearization and peace and stability on North East Asia.

- Shoichi Nakagawa, Japan's minister of agriculture, forestry and fisheries, said of North Korea’s warning of a possible nuclear test Japan might carry out a North Korean vessel inspection and impose an outright ban on imports and exports with North Korea. He said if North Korea forged ahead with the plan, the regime would be further isolated.

- The number of member teachers of the Korean Teachers & Educational Worker's Union decreased by 5500 since the Roh government took office in 2003. The reason behind the dropping number seems to be that the increasing number of teachers is dissatisfied with the way the group is run.

- Jang Seong-taek of North Korea is reported to have had a car accident last month in Pyongyang. According to North Korean sources, his Benz was hit by a truck in broad daylight in Moranbong district, causing him lower back injuries and leaving his car severely damaged. Rumors have it that it was an attempt to assassinate him.

- Chosun Ilbo survey found out that while 68 per cent of female executive-level employees say they are satisfied with their work, 76 per cent of female executive-level employees see it practically impossible to become CEO.

- Appearing on Talk Asia, former President Kim Dae-jung said that the US should talk to North Korea and give the regime another chance. He stressed China could exert influence on North Korea to some extent but couldn’t control the regime and US talk with North Korea was the most important and China and South Korea came the next.

- The sale-off of Hyundai Construction Co. is expected to be delayed due to disagreement between creditors over the sale process.

- Korea Exchange reported that listed companies have bought out W5,840 bn worth of their own company stock as of September, 29.52 per cent up compared to the same period last year. Samsung Electronics has been the biggest buyer with W1807.4 bn worth of buy-out, followed by KT&G with W850 bn, and KEPCO with W654.9 bn.

- [Seoul Sinmun] Robert Joseph, US Under Secretary of State for Arms Control and International Security, is going to visit Seoul this weekend to discuss how to handle North Korea’s planned nuclear test with Foreign Minister Ban Ki-moon, Defense Minister Yoon Kwang-woong, and Presidential security advisor Song Min-soon. He is understood to ask South Korea to join in the Proliferation Security Initiative (PSI).

- [Money Today] Samsung Chairman Lee Gun-hee chose Dubai as his third leg of overseas business trip to visit the construction site of Buz Dubia, the world’s tallest building that Samsung Corporation is currently constructing. He is said to urge the Samsung leadership to benchmark creative management style of Sheikh Mohammad, the Crown Prince of the country.

- [Yonhap] The volume of overseas order passed $ 20bn for the first time in history. The Ministry of Commerce, Industry, and Energy reported the volume doubled that of the same period last year, totaling $20.9 bn.

- [Dailian] South Korean musical Yoduk Story, which ran for four days from October 4 in the US, touched many Americans. US local presses widely reported the success of the musical that attracted more than 4,000 audiences. Jay Lefkowitz, Special Envoy on Human Rights in North Korea, said President Bush felt very sorry for North Koreans’ suffering and the international community should try hard toward North Korea’s democratization.

- [Yonhap] A high ranking government official said the government received intelligence saying North Korea had its nuclear test this morning. President Roh is said to open an urgent security meeting with relevant ministers.

- [Newsis] Korean Air ranks first in two sectors, namely First and Business Class, and Mileage Program in TIME Readers Travel Choice Award.

-[Yonhap] Korean and Japan are expected to have separate press briefing after the summit meeting between President Roh Moo-hyun and Japanese Prime Minister Shinzo Abe. Cheong Wa Dae said of the reason that there was no such rule that the two should hold joint press conference.

- [Money Today] Hyundai Asan said there will be no change in Mt. Kumkang tour despite North Korea’s nuclear test. An official from the company said “if the both governments officially want to stop the tour, we will comply with the measure, but before that we will continue the tour service.” The company, however, will refund the prepaid money if a tourist wants to give up the tour for security reason.