Today's headlines_Jan. 25

- The Education Ministry is set to broaden the number of schools which are subject to the ‘teacher evaluation system’ from the current 67 to 500 within this year despite opposition from Korean Teachers & Educational Worker’s Union.

- Song Min-soon, the foreign affairs minister, talked to U.S. Secretary of State Condolezza Rice on the phone last night and agreed to cooperate to effectively freeze North Korea’s nuclear programs in the upcoming six party talks.

- Informants on irregularity related to the presidential election can receive as much as W500m from the National Election Commission.

- The least developed region in the country is Jellanamdo and among cities is Pusan, according to the ‘development index’ conducted by Korea Institute for Industrial Economics and Trade.

- Regarding the move by Uri party members to form a new party, President Roh said “what the Uri party needs right now is not me, but them (party members)…..if I am asked to leave the party, I will.”

- Finance minister Kwon O-kyu said the ministry is considering to increase public housings in the property market, and related measures will be announced in early February. Asked about a Hynix plant construction site, he said “after the law revision is over, it is up to the company to decide whether to build its plant in Icheon or another place.

- Goldman Sachs predicts Korea will be the second richest country by GDP in 2050, with GDP per capita swelling to $81,000 by that time, only after the US. It suggests changing BRICs to BRICKs, citing Korea’s robust economic growth trend.

- Speculation is rift that Hynix’s first-production line plant will be built in a third region, not widely suggested Icheon.

- Japanese Asahi newspaper reported today the North agreed to suspend running its 5000kw nuclear reactor and allow IAEA inspectors back into the country, but with strings attached.

- A total of 186,808 applicants have registered for the opening of 2,888 9-level civil servant position in the government test, making the competition ratio a whopping 64.7 to 1.

- Lee Myung-bak, one of the most competent presidential candidates, said yesterday he wanted to be the CEO of the country, not the most powerful man, and said he could easily reduce the national ‘rigid budget’ by W2 trillion despite the conventional wisdom that it is not an easy task.

- It is reported that North Korea imposed an outright ban on the use of foreign currency within the country from January 22, the measure understood as the regime’s effort to control foreign currency in the private hands in the face of financial constraints due to sanctions.

- Last year, 30.1 per cent of newly-hired employees fresh out of universities quitted their companies within one year, a research by JobKorea shows. The reasons for the early quitting provided by companies are ‘job requirements that are different from their expectations (29.7%),’ ‘lack of patience by employees (24.6%),’ ‘failure to adjust to the company structure (23.1%),’ and ‘low payment (9.4%).’