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, December 03, 2007

- Prosecutors secured a list of 100 former Samsung executives under whose name a secret bank account was open, and Samsung’s internal document detailing how to react prosecutor’s probe. They also seized emails to Samsung’s strategic management department from a former Samsung Securities employee who blackmailed the company to disclose secret bank accounts.

- Korea’s obesity rate as of 2005 is found to be the lowest among OECD countries, with 3.5 per cent compared to the OECD average of 14.6 per cent. However male smoking rate is reported to be 46.6 per cent, the highest among OECD members.

- Pusan International Air Co. is to increase capital to W24.5bn from W6.4 bn by Dec.17 to earn a transport business license. The company was established last September by businessmen based on Pusan and the City of Pusan, aiming at starting its service from June 2009.

- A court ruled that the government is not responsible for the death of Kim Sun-il who was kidnapped by a group of Iraqi militia and murdered in 2004. The family of Kim had filed a lawsuit against the government for failing to protect its citizen.

- The prosecution is in the final phase of investigation into BBK stock manipulation case. A senior prosecutor said “the probe is completed about 80-90 per cent and we are currently doing the last part of investigation as well as drawing up a public announcement on the investigation result.” The result will be announced by as late as Dec 5. It is believed that LMB will be cleared of being involved in the stock manipulation.

- Baek Jong-chun, national security adviser to President Roh Moo-hyun, visits the US for three days from today to discuss with his US counterpart the NK nuclear dismantlement process, peace on the Korean peninsula, and a declaration on the formal end to Korean war.

- Independet lawmaker Chung Mong-jun visited the GNP office and declared his support for LMB this morning.

- Domestic fund account number is reported to account to 21.2m as of October, which translates into more than one fund account per household. The average subscription period is 341 days.

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