What's Up Korea?

Welcome to my news blog. I will let you guys know the truly dynamic aspect of Korea. Please be interested and animated!

Wednesday, October 17, 2007

- The education ministry announced that the total number of law school students will be 1,500 in 2009 and the number will gradually increase to 2,000 by 2013, a number far below universities expected. As a result, about two thirds of them can’t get the permission to establish such schools from the ministry.

- The finance ministry expects a growth rate for the second half of this year to be around 5 per cent, putting the annual growth rate at 4.8-9 per cent, higher than previous prediction of 4.6 per cent. Separately, it said it is necessary for the time being to keep the law which prevents conglomerates from owning financial institutions.

- Public pension funds in arrear hit a record high with W7.27 trillion as of July this year.

- Chung Dong-yong said in an interview, “I have long thought of visiting the US upon becoming a presidential candidate, but the plan was screwed up because of MB (myung-bak).” “because of MB’s disastrous diplomacy…I might have to seek a compensation from him.”

- A professor at Chungbuk Science university says Kim Jong-il’s heart seems to be in a better condition than 2000. He analyzed kim’s voice through a specific medical science to predict Kim’s heart condition.

- The government is said to positively considering casting a blank ballot in the UN human rights resolution vote slated to be held next month.

- The Seoul City government mulls over creating a medical and tourist special zone within the city to encourage more foreigners to visit Seoul.

- The Commerce ministry reported there have been 97 cases of industrial technology leakage to overseas for the past three years, damaging the country more than W119 trillion.

- Korea sends the South 29 times more freight through sea than the South does to the North. The fishery ministry said most of shipping from the North is sand.

- GNP Rep. Lee Byung-seok predicts electricity transmission will cost Seoul W19 trillion over the coming 30 years. South Korea proposed in 2005 it provide the North with electricity amounting to 200kw.

- Chung Dong-young will visit Kaesung today and announce a vision for a peaceful peninsula.

- Korea slid to 39th in Worldwide Press Freedom Index 2007 by RSF (reporters sans frontiers), from 31st last year.

- Labor party rep. Shim Sang-jung revealed a Samsung internal document made in May 2005, which details how to eventually own a’ Samsung Bank.’ The document suggests five goals for that matter; having logical response to the government’s policy to separate industry from bank; introducing non-banking financial institution; encouraging the creation of financial laws that considers the particularity of bank, securities, and insurance works; seeking a way to allow non-banking financial institutions to do banking business; and encouraging a ‘right’ opinion on ‘wealth concentration.’

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