other important headlines_Nov 9

- The BoK keeps its call rate at the current 4.5 per cent. Meanwhile a financial ministry official said “the economic fundamentals are still instable and there is no sign that prices will be unsettled, so I don’t think the BoK could find any reason for raising interest rate.” “Though property market is fluctuating but it can’t be a reason enough to increase the rate.”

- President Roh is said to have been secretly trying to have inter-Korean summit through a direct channel, which marks a turnaround of his policy that prefers having such a summit after resolving nuclear problems. According to a source who is very familiar with the issue said core members of Seoul and Pyongyang had secret meetings in a third country twice in the end of October and agreed on the resumption of six party talks and inter-Korean summit.

- FTC commissioner Kwon O-seung said yesterday in a lecture “chaebol is owned by a leader of the company if it succeeds, but the country provides public funds when it fails,” and “accordingly chaebol can be understood as a public company in a sense.” “Samsung, Hyundai Motor, SK Group are private companies but also public company.” His remark was fiercely opposed by business people who were attending the lecture.

- The Police will hire the disabled as a police official for the first time in its history. The agency posed a job offering for two disabled people among 20 cyber-crime investigators.

- Lone Star employees rejected yesterday the prosecutor’s request to come to the prosecutor’s office for investigation. They are reported to have said the Korean prosecutors should come to the US if they wanted an investigation. The chief investigator Chae Dong-wook said “Lone Star has no respect for Korea’s legal system.”

- It is reported that the government will decide its stance on the PSI within this week. The decision, however, might be influenced by former president Kim Dae-jung and Uri party leader Kim Keun-tae who oppose the extended involvement of Seoul in the initiative. A Cheong Wa Dae official said “the blue house is finalizing its stance after seeking advice from relevant government agencies,” and “I wonder if Cheong Wa Dae can possibly ignore DJ or the ruling party.”

- Sony Korea hasn’t decided yet on when it releases its new Play Station 3 in the Korean market on worries over profitability due to illegal copy of game title (software).

- Aekyung Group is set to take over Samsung Corporation’s retail business including Bundang Samsung Plaza. Samsung Corporation has chosen Aekyung Group ARD Holdings as a preferred bidder and will conclude MOU soon. The company will have due diligence and conclude the contract by the end of the year. The estimated price for the take-over is about W500bn.