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!

Monday, November 26, 2007

- It is reported that a US diplomat has been staying in Koryo Hotal (고려호텔) in Pyongyang since mid November as a contact between the two countries. The US is said to intend enhancing the current temporary office to permanent official one when NK makes clear its intention of discarding nukes.

- From next year, demonstrators will be fined up to W1 m unless they put away wastes created during demonstration by themselves.

- Last year’s union formation rate marked the lowest with 10.3 per cent since 1997, indicating increasing disillusion among workers.

- Samsung Electronics, Kookmin Bank, POSCO, KEPCO, Hyundai Heavy Industries, and Hyundai Motor have achieved the goal of passing W10 trillion in total sales and W1 trillion in operating profits this year, according to FNGuide, a stock information company. SK Telecom and KT, which have already earned more than W1 trillion in operating profits, are also expected to record W10 trillion in total sales within this year as well. Meanwhile S-Oil has passed W10 trillion sales mark and is expected to pass W1 trillion in operating profits by year-end.

- Japanese Mainichi Newspaper reported that Kim Jeong-chul of North Korea has been chosen as vice director of Rodong Party’s Organization and Guidance Department, one of the most important posts in NK. But the Korean authorities say they don’t consider the report true.

- Lawyer Kim Yong-chul is to hold a press briefing at 11:30 am today to reveal “as much as I can say about Samsung.” He said “the press briefing is about Samsung’s creation and management of slush funds and how Lee Jae-yong created his wealth alongside with supporting evidence.”

- Erica Kim says she will soon make public more evidence supporting BBK is owned by LMB.

- CFE (Center for Free Enterprise) reported Korea’s fiscal growth rate is the highest with 11.36 per cent in the OECD countries for the past 12 years. The average rate among OECD members is 4.99 per cent.

- A Woori Bank employee is reported to have been promoted right after he was punished for breach of real-name financial transaction system regarding Samsung secret bank accounts.

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