Korea Headlines_Jan. 30

- CEO of Samsung Semiconductor Hwang Chang-kyu played down a Japanese emergence in the semiconductor market, saying “there is nothing to worry about Japan’s chasing after our semiconductor business.” His remark came amid Japan’s semiconductors’ announcement on the aggressive plan to increase investment.

- In the World Economic Forum, Korea was conspicuously under-represented with only 23 Korean attendees.

- UPI press reported the US is considering unfreezing $13m among $24m in the North Korea’s BDA accounts.

- LG Telecom announced this morning a total sales of W2.9 tr, operating profits of W416 bn , and net profits of W238 bn in 2006, up 10.4 per cent, 15.7 per cent and down 4.1 per cent respectively from a year before.

- Kang Shin-ho, Chairman of the Federation of Korean Industries, accepted the offer to assume the position for the third consecutive term.

- Park Jin-young, the entertainment guru who produces Rain, will have a lecture at the Kennedy School of Government on Hallyu (Korea Wave) on February 16. The school said as Asia’s best song writer, producer, and CEO of a recording company, it invites him to share his views on Hallyu’s advance into the US entertainment market.

- In an email interview with the paper, Lone Star CEO John Grayken denied the rumor of negotiations with the ICBC (Industrial & Commercial Bank of China), by saying the company hasn’t offered to sell its KEB shares to any other company in and outside Korea. He said the company will “carefully coordinate” with the Korean government regarding the KEB sale process.

- The study on 214 North Korean defectors aged more than 20 by the Korean Institute of Criminology shows the ratio of falling victim to crimes among them is five times the average criminal cases reported in Korea, and 20 per cent have experience of being the victim of fraud mostly by other defectors.

- Financial Supervisory Service said it caught during its audit Shinhan Bank giving out loans worth tens of billion won to Japan’s APLO Financial Group, which lends money at usury