Today's headlines_Dec 27

- Samsung Electronics will produce a state-of-the-art refrigerator named after its group chairman Lee Kun-hee. The refrigerator can read RFID(Radio Frequency Identification) so as to identify the content, shelf life, and price of the stored items in the fridge.

- LG’s Chocolate phone decorated with diamonds priced at tens of millions of wons will be launched in the Middle East targeting mega-riches in the region.

- Construction Minister Lee Yong-seop said the government will decide within this week whether it will open up to the public the original cost of apartment.

- Alexander R. Vershbow, U.S. ambassador to Korea, said this morning the rules of origin matter regarding Kaesung could be solved if dealt separately with the on-going Korea-US FTA.

- Kwon Oh-seung, chairman of the Korea Fair Trade Commission, told reporters yesterday “we can take whatever constructive criticism toward us if we do something wrong, but to malicious reports by press we will sternly react in the same malicious way.”

- Local banks predict the won price against the greenback will be stabilized at a range of W927-W934 today.

- After long hassles within the National Assembly, new year’s budget is determined at W163.3 trillion, trimmed by W1.35 trillion from the original budget plan. The areas with slashed budget include inter-Korean economic cooperation, job creation, and US army base relocation.

- A poll conducted by the MOFE on its website found that 40 per cent of 353 respondents said the government should put its priority next year on sustaining economic recovery over cooling property market.

- Samsung Economic Research Institute put out a bleak prospect on the overall conditions of Korea next year due largely to intensifying North Korea’s nuclear crisis, mounting social discord and difficult FTA negotiations.

- Sohn Hak-kyu, one of prominent presidential hopefuls, said on his homepage “President Roh wants compliments even if it is an empty word,” and “If his morale drops and consequently he poorly governs administrative affairs, it is the public that suffers…so let’s encourage him by complimenting on what he did good so that he can stay aloof from politics.”