- Korean Air and Asiana Air is set to cooperate with each other in maximizing their profitability by readjusting their routes. They will increase money-making routes and remove unprofitable ones.

- Mirae Asset is to launch Korea’s first hedge fund called ‘Mirae Asset Challenger Alpha Fund’ early October, which produces an yearly returns of around 8 per cent regardless of market conditions.

- Jung Jae-eun, Shinsegye’s honorary CEO, will tomorrow deliver a closed in-house lecture to employees including top executives from the company affiliates. He paid an astronomical donation tax of W350 bn last year for giving his children all of his company shares of 7.83 per cent worth W700 bn.

- In an effort to promote unsold apartments in non-metropolitan areas, construction companies produce various incentives to lure prospective house-buyers by easing payment schedules or offering cars to buyers.

- Excessive regulations(36.5%)’ is voted as the biggest hurdle facing Korea’s financial industry, followed by ‘weak products competitiveness (25.5%),’ ‘poor quality of financial services (21.5%),’ and ‘lack of experts (15.7%),’ shows a poll on financial managers from 500 manufacturing companies by Korea Chamber of Commerce.

- Pusan’s local beverage ‘Cheoneon Yaksok (promise for a thousand year)’ has been chosen for official toast before formal dinner on October 3 at the inter-Korean summit.

- North Korea is reported to have made changes to the contents of Arirang performance on news that President Roh would attend the show. They replaced the scenes showing North Korean army titled ‘People’s Army’ with Taekwondo performance titled ‘Spirit of Arirang People.’

- The speculation that Samsung Group might carry out a ‘personnel typhoon’ is backed by the following facts: December 1 marks the 20th anniversary of Lee Kun-hee’s chairmanship; most of Samsung affiliates move to so-called ‘Samsung Town’ in Kangnam next May; Samsung electronics has been showing disappointing performances and reduced the volume of new employment for the first time since the Asian financial crisis.


- Yahoo put a story on its front page on September 29 about Kim Jong-il being a big fan of top Korean actress Lee Young-ae along with their pictures. Rumor has it that Ms. Lee secretly went to Pyongyang brokered by Seoul to meet Kim.