Today's headlines_Jan. 9

- The government considers gradually reducing mandatory military service period by 6 months from the current 24 to 18 months, the idea rejected by some political quarters as a mere political stunt aiming at the next presidential election.

- In the last year to November, a total of 1,792 complaints were filed by citizens on the misappropriation of tax by local government officials. An investigation by the ministry of planning and budget proved more than W100 bn taxpayer’s money went wasted.

- The paper suggests Korea need to benchmark Denmark, Ireland, United Arab Emirates, and Singapore for their supports for businesses and coins a new word, ‘TEE,’ which stands for Trust, Economic Freedom, and Entrepreneurship as the three most necessary items in order to create business-friendly environment.

- The real estate auction held yesterday by a Seoul East district court was overheated with people who wanted to snap up houses put up at auction on the cheap.

- Asia stocks fell yesterday across the board with Kospi down by 14.95 points or 1.08 per cent at 1370.81. Hong Kong and Singapore stock markets also saw a 1 per cent slump.

- Local departments’ earnings from a new-year sale slumped 1-2 per cent from a year ago.

- On the President Roh’s suggestion this morning to change the presidential term to two four-year term, the Uri party welcomed the idea but the opposition party, while generally accepting the idea, suspects it is more or less one of his political tricks to solve his own political troubles.

- A research by AP and Ipsos found out 81 per cent of Koreans feel stressed every day, the highest among all 10 countries that were polled. The source of their stress comes mostly from workplaces, followed by financial troubles, and family lives.

- A KDI report suggests subsidies to childcare should be provided with strings attached. The paper argues the subsidies should go only to working moms in order to solve both low birth rates and lack of workforce.

- A total of 440 people can be able to concurrently using their mobile phones in Dokdo as old communication facilities are now replaced with new ones to establish sound communication networks.

- Movie production companies which try to shoot some of the scenes in the North are having a hard time in negotiating with it since the North demands lots of money and goods such as cars in return for providing locations.

- Samsung Electronics is set to give out to its employees more than W700 bn in PI (Productivity Incentive) and PS (Profit Sharing) within January.