Today's headlines_Jan. 3

- President of Samju Co.(former Grace Department Store) Kim Heung-ju is reported to have revealed that he bribed W30m to a former senior official at the Financial Supervisory Service who is still working in the agency.

- Education Minister Kim Shin-il said the six-year advance notice, not the current three-year notice, is necessary for students to sufficiently prepare for a changed university entrance exam system.

- Korea Housing Finance Corporation is reported to have been actually making profits from low interest loans it provides to students with financial difficulties. The corporation earned a total of W14.6 bn in profits in the year to September last year.

- CEOs stressed creativity, aggressive attitudes, and fearless minds in their New Year addresses.

- Seoul Housing Corporation, the city-run public apartment providing company, will set a price for public apartments at 75-85 per cent of the same size apartment prices in Seoul.

- A foreign ministry official said Korea and China, marking the 15 anniversary of forming a diplomatic relations this year, is considering running a shuttle flight between the two in an effort to enhance mutual exchanges.

- The prosecution investigating into the Samsung Everland CB case said it will mull over whether to call Lee Kun-hee in for probe after a ruling by the appellate court is out this month.

- The Ministry of Commerce predicts the volume of export to be $360 bn for 2007. The projected growth rate is 10.4 per cent, lower than last year’s 14.6 per cent due to aggravating external factors such as sagging US economy.

- According to the data from the Ministry of Planning and Budget, 20 out of 27 retirees from big public corporations have been rehired by affiliated companies for the last three years.

- Park Myung-jae, Minister of Government Administration and Home Affairs, said this morning that he would do his best to reform the pension fund system for civic officials within this year.

- Bloomberg reported the WRF (Washington Research Foundation) sued last month Samsung for patent rights infringement in a Bluetooth mobile phone.