Korea Times (Seoul, Korea)

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

Articles from November 21, 2000

22 Viable Firms to Be under Bank Watch
Twenty-two out of 69 firms judged to be viable in the recent round of corporate restructuring will be required to submit recapitalization plans and report progress they make to the creditor banks. Banks officials will be free from any punitive measures...
518 Delinquent Taxpayers Banned from O'seas Travel
A total of 518 people residing in Seoul failed to pay taxes worth 50 million won or more, and were banned from leaving the nation for not complying with their obligation to do so. The Seoul City said yesterday that 25 ward offices have conducted...
Celebrated St. Petersburg Orchestra to Charm Korean Music Lovers
In celebration of the tenth anniversary of the establishment of Korea-Russia diplomatic ties, St. Petersburg Symphony Orchestra, formerly known as Academic Symphony Orchestra of Leningrad Philharmonic, will take the stage in Seoul. In their second...
Cold Spell Grips Nation
A cold spell will hit the nation today as the mercury is expected to dip below the freezing point in the central part of the Korean peninsula. Morning lows throughout the country recorded the coldest temperatures so far this season, indicating that...
Doosan, Speco Approved to Make Final Price Bid for Hanjung
Consortiums put together by Doosan and Speco have been given the approval to make the final price bid for Hanjung (Korea Heavy Industries and Construction). The Ministry of Commerce, Industry and Energy and the Korea Development Bank said yesterday...
Easier College Exam Cause Fierce Competition
The College Scholastic Ability Test (CSAT), which determines the future of college aspirants, was completed last week, but students are far from being liberated from the pressure of exams. With this year's exams considered too easy to accurately...
Foreign Players in Motion: Who Goes Where?
As anticipated, the 2000 season turned out to be the year of the power hitter. Players like Tyrone Woods, Bubba Smith and Tom Quinlan all had big years with the bat but which players will return in 2001? With each team being able to sign three foreign...
GNP Resolved Not to Return to Assembly
The main opposition Grand National Party (GNP) yesterday reaffirmed its determination not to comply with any proposals for parliamentary proceedings in the current parliamentary session in protest against the governing Millennium Democratic Party's...
Gov't Tells Hyundai Not to Count on Fresh Funds
The creditor banks of the ailing Hyundai Engineering and Construction are expected to stick to their previous vow not to provide fresh funds to the firm anytime soon. Hyundai's key affiliate has been on the brink of collapse, narrowly escaping...
Hyundai Faces Hurdle in Securing Rescue Plan
Hyundai Engineering and Construction yesterday ran into unexpected trouble with one of its sister companies as it is trying to come up with a 1 trillion won self-rescue plan. The troubled flagship company of the nation's top conglomerate was planning...
IMF Advice Falls on Deaf Ears of Gov't
The banking reform is showing signs of unraveling, being pushed out of the spotlight by the daily trip of the ailing Hyundai Engineering and Construction between life and death. The government's ambitious plan of grouping the four weak banks under...
Insa-Dong Streets Come Alive with Performance Art
People visiting the Insa-dong area, downtown Seoul, this weekend will be surrounded by some 90 performance artists from nine different countries for the 2000 Seoul International Performance Art Festival (SIPAF). The festival, the first international...
Is JP's Grip on the ULD Weakening?
The defiance by six lawmakers of the opposition United Liberal Democrats (ULD) of their party's stance on the controversial impeachment motion has raised questions over ULD honorary president Kim Jong-pil's grip on the party. In what was seen as...
Joint Currency Offers Both Koreas Control
A joint currency, which the two Koreas have agreed to create, will offer both Seoul and Pyongyang greater political control over emerging economic ties, according to a U.S.-based consulting company. ``The currency, which officials described as more...
Libya Likely to Pay Dong Ah $300 Mil. in Advance Deposit
The Libyan government is likely to pay Dong Ah Construction $300 million in advance to keep it going in the Great Man-made River project. According to sources at the Ministry of Transportation and Construction yesterday, Libya made its intentions...
Livelihood Support Loans Available for Workers of Ailing Daewoo Motor
The Ministry of Labor yesterday decided to arrange preferential loans worth 12.7 billion won to workers of the insolvent Daewoo Motor Co. because they were not paid by the automaker. The decision was made as a total of 11,512 Daewoo employees applied...
Market Skeptical over Hyundai Construction's Self-Rescue Plan
Hyundai Engineering and Construction yesterday formally announced a set of self-rescue plans to raise a total of 1.2 trillion won for recovery from its current financial difficulties. However, market watchers, particularly foreign analysts, warned...
Media Condemns MDP over Dismissal Bill
The ruling Millennium Democratic Party (MDP) yesterday placed front-page ads in virtually every daily newspaper in an attempt to convince the people that its suppression of a bill to dismiss the chief prosecutor was necessary to ensure political stability....
Oakwood Offers Business People`Home Away from Home'
Tired of extended stays at even the best hotels in town? There will soon be an attractive alternative which Oakwood Worldwide likes to call a ``home away from home.'' ``Sometimes, when people are on long business trips to a single location, they...
`Our Goal Lies in Freedom of People'
One of the most prominent scholars on juche, North Korea's self-reliance ideology, says democracy is central to the realization of a true socialist country based on ideology. Pak Yong-gon, 72, an honorary professor of philosophy at Korea University...
Small Cos Oppose Work Permit System for Foreigners
An organization representing the small-and medium-sized businesses said yesterday its members will hold a rally in front of the National Assembly today to protest a plan to introduce the ``work permit system'' for foreigners. The Korea Federation...
USFK Personnel, War Vets Recognized in Ceremony
For the thousands of men and women who serve in the U.S. military across the peninsula, each one shares a common bond with each other, albeit the branch of service, the uniforms they wear, or the mission which keeps them here. Last Friday, though,...
US, ROK Fail to Find Hard Evidence on Nogun-Ri Killing
A year of investigations into the alleged massacre at Nogun-ri has proved fruitless. The United States has failed to secure any document or witness as hard evidence that U.S. soldiers were ordered to shoot refugees in the Korean hamlet in the early...