Korea Times (Seoul, Korea)

English-language newspaper published daily in South Korea that covers politics, society, business, finance, culture, and sports.

Articles from November 13, 2000

APEC Summit; APEC Charts New Financial Architecture
Leaders in Auckland also reviewed the broad-based though still fragile economic recovery enjoyed by the APEC region over the past year. They agreed that the cooperative strategy adopted at the 1998 APEC meeting in Kuala Lumpur and sound macroeconomic...
APEC Summit; President Kim to Attend APEC Summit in Brunei
The eighth Asia-Pacific Economic Cooperation (APEC) Leaders Meeting being held November 15-16, 2000, in Bandar Seri Begawan, Brunei, is the third such meeting for President Kim Dae-jung to attend. At the meeting, he is expected to underscore Korea's...
Chief of Security Dialogue Hopes to Visit NK
The chairperson of a semi-official Northeast Asia Security Dialogue revealed her plan to visit North Korea along with scholars of the member states, a Foreign Affairs-Trade Ministry official said yesterday. Prof. Susan Shirk of the Institute on...
Credit Crunch Escalating: A Series of Bankruptces Feared
Contrary to much-coveted hopes that the revelation of insolvent firms would haul the viable firms out of a vicious cycle of credit crunch, cash flow problems are still haunting cash-strapped firms. Further, chain-reaction bankruptcies are being...
Declining Consumption Feared to Hurt Economic Recovery Efforts
Worries that the economy is shrinking are keeping consumers from reaching into their pockets to make new purchases. People are cutting down on what they spend at supermarkets, department stores and restaurants. But economists say austerity measures...
Doctors Reach Accord on Medical Reform Program with Pharmacists
Representatives of disgruntled doctors have finally agreed on the implementation of a medical reform program, moving to end their four-month-long protest over a new medical system. The agreement was reached early Saturday morning during the three-way...
Drop in Trade Volume Heightens Economic Woes
The growth of both the nation's exports and imports has begun to slow phenomenally, intensifying the concern that the national economy has slipped into a full-scale downturn trend. The export increase rate during the first ten days of November...
Fairchild Korea Head Called 'Dr.Power'
Kim Deok-jung, president of Fairchild Korea Semiconductor, is called ``Dr. Pow r'' in recognition of his outstanding career in the semiconductor power device area. Upon completing his studies in the United States in 1990, he entered Samsung Electronics...
FDI, Short-Cut to Globalization of Businesses
Anyone who watched Japan win the recent Asian Cup tournament will not hesitate to realize that the level of Japanese soccer has surpassed that of other countries in Asia. This however, was not achieved in a single day. Rather, it was the result...
Gov't Makes U-Turn in AIG Deal
The government yesterday expressed a willingness to positively consider ``controversial'' demands the American International Group (AIG) is making in return for $1 billion in investment in three troubled financial units under the wing of Hyundai...
House to Approve of Additional W40 Tril. of Public Funds
The National Assembly is likely this month to approve a government plan to spend an additional 40 trillion won of public funds for the second phase of restructuring of the ailing financial sector. An ad hoc House panel started deliberations on the...
Hyundai Time Bomb Ticking Faster
Hyundai Group is burying its head in the sand. The government remains indecisive, even if it knows what is coming. The creditors are stuck in the inertia left from the past, being satisfied with acting at the beck and call of its old master, the government....
Job Seekers Turn to Net to Beat Tight Market
After the Nov.4 decision to liquidate or sell 52 beleaguered companies, more and more job seekers are flocking to the online recruitment websites to post their job application forms. Incruit.com, a local recruitment-related Internet portal service...
Keeping Up Paldang Lake Vital for Metropolitan Water Supply
Taking in the waters of the South and North Han Rivers, the reservoir in this junction area is the biggest source of tap water for metropolitan residents. The reservoir is not only the source of water supply for the mega city of Seoul, but also...
Korean War Campaigns Remembered
YONGSAN GARRISON, SEOUL - On a crisp, autumn Saturday morning this past weekend, Korean War veterans, dignitaries, family members and guests gathered at Yongsan Garrison for an honor ceremony to commemorate the Northern Campaigns of 50 years ago. Dignitaries...
Koreas Forge 4-Point Accord on Economic Cooperation
In yet another landmark move of inter-Korean cooperation, the two Koreas Saturday agreed on a four-point agreement on economic cooperation in Pyongyang, which consists of investment guarantees, settlement of disputes, clearance of accounts, and avoidance...
Korea to Host APEC Summit in 2005
Korea was picked to host the summit of the Asia-Pacific Economic Cooperation (APEC) forum in 2005, a Foreign Affairs-Trade Ministry official said yesterday. The decision was reached in the APEC's ministerial meeting in Brunei, held prior to a summit...
Legislators Question Effectiveness of Public Funds
Rep. Kim Boo-kyum yesterday put in doubt the effectiveness of using public funds, to keep the ailing companies afloat, with other lawmakers bashing the government over the alleged failure of the financial restrucutring program during their interpellation...
LG Electronics Decision to Stay in L. America Proves Successful
MANAUS, Brazil - LG Electronics's decision to remain in the Latin American market through its recent financial crisis has proven to be exceptionally successful. In fact, local Brazilians go to the extent of describing LGE's investment here as "The...
Markets' Call Falls on Deaf Ears of Hyundai Leader Mong-Hun
Good stock investors know when to hold on to stocks and when to dump them. It is by all means hard to discern calls from the markets, which explains why there are few successful investors and many who grumble about losses. The same rule applies to...
Probe of Loan Scandal Virtually Ends
The prosecution's probe of the latest illegal loan scandal involving venture businesses is expected to wrap up today with the indictment of 10 of the 14 people alleged to be involved in the affair. But the prosecution is facing another round of...
Reliance on Certain Products Hit Exports
The nation's exports have been focused on certain products with heavy dependency upon low-priced products. In order to cope with the harshest-ever trade climate, it is necessary for the nation to improve the export structure including diversifying...
ROK Sends Team to Climate Change Conference
Korea dispatched a delegation, led by Environment Minister Kim Myung-ja, to a conference on climate change which will open today in the Dutch city of The Hague, a Foreign Affairs-Trade Ministry official said yesterday. During the Sixth Session of the...
South Korea Picks 100 for Family Reunions
The Korea National Red Cross (KNRC) yesterday finalized the list of 100 separated family members who will visit Pyongyang for the second round of inter-Korean family reunions from Nov. 30-Dec. 2. ``At the screening committee meeting held today,...
Speaker Vows to Reveal Unqualified Lawmakers
National Assembly Speaker Lee Man-sup said yesterday that he would ask the public not to elect what he calls unqualified lawmakers by revealing a list of their names. "I plan to appeal to the public not to elect unqualified lawmakers by revealing the...
Sweeping Anti-Corruption Drive Eyed
The ruling Millennium Democratic Party (MDP) is seeking across-the board anti-corruption measures to get rid of widespread moral hazard in officialdom and society. The governing party has recommended that the government strengthen its anti-corruption...
Tripartite Accord Is Final One:
Doctors and pharmacists are sharply divided over Saturday's agreement on a medical reform program between their respective representatives and government officials. Medical trainees are still maintaining their hardline position that they cannot...