Today's headlines_Dec 13

[Chosun Ilbo]

- National Election Commission submitted a piece of revised vote legislation under which people on temporary stay in overseas can cast a ballot in the national referendum. If it passes into law, 1.1 m people can have a voting right while staying in a foreign country.

- Ancient books, designated as national treasure and stored in a museum, can be accessed to and opened by ordinary people through a newly-built website (www.memorykorea.go.kr).

- Cheong Wa Dae is considering a pardon on Christmas day. It is speculated that former Daewoo Chairman Kim Woo-joong and former Doosan CEO Park Yong-sung will be among the people to be released.

[Maeil Business Daily]

- Korean parents are facing a mounting financial burden due to private education for their children. The volume of the private education market amounts to more than W21 trillion and takes up 3.4 per cent of GDP, far higher than that of Japan(1.2%) and the US(2.3%).

- The ruling Uri Party is set to come up with measures to lower public apartment price by 30-40 per cent.

- Life insurance companies can be listed as early as later next year.

[Portal sites]

- A South Korean Insam (ginseng) company based in Kumsan in Chungcheongnamdo will have a joint business with a North Korean company in Pyongyang in an effort to internationally promote Korea’s high-quality insam products. The two companies rename the company as ‘Tongil Goryoe Insam,’ and plan to produce its first product on June 15 next year, marking the seventh anniversary of the June 15 declaration.

- Jin Dong-soo, second-undersecretary of MOFE, said this morning, “we take seriously about the fact that exchange rate is far removed from the economic fundamental.” “Won is excessively appreciated compared to Dollar, Yen and Yuan,” he added.

- In 4 years, Korean households with KT internet connection can enjoy 100 times faster internet broadband based on FTTH than the current ADSL could provide, said Nam Joong-soo, president of KT. The company will invest W1 trillion by 2010 to finish establishing a FTTH broadband for its subscribers.

- Daum Communication announced publicly that it sealed an ad deal with Google, under which the Korea’s one of the biggest portal sites will run its online advertisement business through Google’s ‘Adsense.’

- President Roh will meet county’s CEOs from top 30 conglomerates on Dec 28 in a fourth such meeting since the Roh government took to the power.