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, November 07, 2007

- NC Soft’s next new game title ‘AION’ will be introduced in the Chinese market early next year, in hands with Shanda, one of China’s biggest online game companies which is set to buy a 30 per cent stake in NC Soft China. Shanda is a Nasdaq-listed company with 4.4 m fee-paying members.

- Lee Myung-bak visited Lee Hoi-chang’s house this morning to no avail. He left a letter to him saying “Dear respectful Chairman Lee, I have been trying so hard to meet you for the last a few days, but couldn’t, so I left a few words to you. It is all because of my inability, but I have something to hear from you as well as to say to you. I wish I could talk to you even over the phone. Looking forward to hearing from you soon.”

- BOK makes it clear that it has no plan to redenominate the currency, but when a banknote worth W100,000 is introduced next year, the need for redenomination will be gaining ground. BOK governor Lee Sung-tae has recently told in the parliamentary audit session, “we don’t have such plan in the near future.”

- Housing prices will rise 1.5 per cent while leased-housing prices will goes up 4.0 per cent next year, predicts the Construction & Economy Research Institute of Korea. The prediction means an actual price fall in housing prices given inflation.

- National Tax Service is in shock after its head was arrested yesterday. One senior officer said, “regardless of the investigation outcome, I am worried that NTS as a whole might be viewed as a corrupt group.” Another said “if the long-held custom of promoting insiders is shaken, NTS morale will badly fall,” referring to rumors that Cheong Wa Dae will appoint someone outside NTS in the top position.

- Amid bullish stock market, one of the most hotly debated topics among office workers is stock investment. In a big company located in Jeonju, people flock to one specific room in lunch time to visit online stock market, since it is the only room that allows internet connection to such sites.

- Samsung Economic Research Institute released a report titled ‘Korean movie industry’s crisis examination and what to do about it,” a report that points out four major problems to address, “lack of creativity, slow export, abundant online legal copies, too many production of movies.”

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