- The Cabinet approved a parliamentary proposal for an independent probe into Samsung’s slush fund case. The investigation is expected to begin late this month or early January. Prosecutors are tracking down suspicious 120 bank accounts which seem to have been used to channel secret money.

- The Unification Ministry is reported to have agreed with the North to pay them $1000 for every video letter by a separate family member. Technological equipment is also provided by the South.

- Seoul High Court ruled yesterday it was legitimate that Kangnam-gu Office levied registration taxes on Lone Star for buying out Star Tower Building in 2001.

- Hite-Jinro vice CEO Lee Jang-kyu said the company is looking for ways to strike a M&A with companies in Russia, South East Asia, and the US. And he made it clear not to sell out Jinro Japan because it has established brand power in Japan.

- SK Telecom is to advance into internet shopping business from January next year.

- Korea ranks sixth in IT-related export volumes in the world, according to a WTO report.

- German’s Munich Re Insurance Company, which is in talks with online Daum Direct insurance company for takeover, says it will enter into Korea’s insurance industry.

- BOK predicts the economy will post a similar growth rate to this year’s 4.8 per cent, with 4.7 per cent.

- Banks, including SC Korea First, Hana, and Shinhan Banks, are having difficulty to reach an agreement with its labor union on salary increase, irregular workers, and early retirement. SC Korea First Bank’s labor union has asked National Labor Relations Commission yesterday to intervene in their disputes with the management.

- Korean companies suffer losses from fake products ranging from fake luxury to car parts made in China, and the loss is expected to amount to W14.9 trillion, which is up to 6 per cent in the total expo