Korea Times (Seoul, Korea)

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

Articles from February 8, 2001

205 Minors Hold 6.42 Mil. Shares
Listed firms' shares held by youngsters under 19 numbered 6.42 million and were valued at 38.8 billion won at the end of last month. The figure represents an increase of around 11 percent from 57.9 million shares recorded last September. Market...
Additional 370 Tril. Won Needed to Raise Quality of Education to OECD Level by 2004
An additional budget of nearly 370 trillion won will be needed for South Korea to raise its quality of education to the average level of the Organization for Economic Cooperation and Development (OECD) by the end of 2004. The Korea Educational Development...
Belgian Envoy to Seoul Hopes to `Commute' Via Panmunjom
Belgium's top envoy to Seoul, who was also accredited to Pyongyang recently, said that he hopes to travel to North Korea via the truce village of Panmunjom four times a year, beginning this March. ``The ideal way would be to go to Pyongyang via...
Chong Wa Dae Defends Hyundai Rescue
Chong Wa Dae yesterday rebutted a claim by opposition leader Lee Hoi-chang that the government is giving special treatment to the troubled Hyundai Group. ``We are doing what is deemed necessary to save companies leading the country's strategic industries,''...
Daewoo Subsidiaries in 10 European States Allegedly Involved in Raising Secret Funds
The prosecution investigation into the financial scandal involving the collapsed Daewoo Group was reported to have obtained evidence showing that not only the conglomerate's London-based British Finance Center (BFC), but also other overseas subsidiaries...
Dispute Expected with Libya over Troubled Dong-Ah Construction
A dispute is expected between Korea and Libya over troubled Dong-Ah Construction Industrial as the Libyan government has recently lodged complaints that it will claim compensation for possible suspension of the mammoth waterway project in the African...
Fast Food Nation
There's no denying that fast food has changed the way people live and eat. Not only has it changed our diet, but it has also had an impact on the landscape, economy, labor, and to a larger extent, popular culture. And when viewed on a much larger...
Gov't Mulling Issue of Credit Card Biz Licenses
Conglomerates such as SK, Hyundai, Lotte and foreign firms will be able to jump into the credit card business, as the government is making moves to lift the ban on them. The chaebol's new entry into the credit card business had been prohibited due...
Hyundai Electronics Loses W2.2 Tril. Last Year
Hyundai Electronics Industries, the world's No. 3 chipmaker, yesterday reported 2.25 trillion won ($1.7 billion) in recurring losses last year. The company revealed the business performance to local and foreign institutional investors in a conference...
IMF Advises Quick Resolution of Daewoo Case
``Creditors and the government need to seek a quick resolution regarding Daewoo whose affiliates have been under workout for a year without any significant asset sales, in order to prevent further erosion of value,'' said David Coe, a senior resident...
Kim Woo-Choong & Ponzi
The Guinness Books of World Records may pick Daewoo group founder Kim Woo- choong as the ```greatest manipulator of accounting books of the century.'' His manipulative methods are so complex that they should be included in textbooks at major American...
Korean Artists Rush to O'seas Stages
The Culture-Tourism Ministry announced Tuesday that it will promote a great variety of cultural events overseas this year in order to increase international awareness of Korean culture. The Korean Cultural Service of New York will be busy supporting...
Korean Literature Now in `Dialectical' Transition amid New Social Reality
Korean literature has undergone rapid changes amid the political and social upheavals during the last few decades. In the 1980s, when political issues were a main theme of Korean literary works, they often featured the labor class and students suffering...
Lee, Powell Agree to Step Up N.Korea Policy Coordination
Foreign Affairs-Trade Minister Lee Joung-binn and U.S. Secretary of State Colin Powell agreed to strengthen bilateral coordination to fine-tune their policies towards North Korea during a meeting in Washington Wednesday. It was the first official...
N. Korea to Open Embassy in Ottawa
North Korea is poised to open a resident embassy in Ottawa soon, as it established diplomatic ties with Canada Tuesday, a Foreign Affairs-Trade Ministry official said yesterday. ``The North Korean side is set to establish a resident mission in Canada....
Parties Gear Up for Gov't Interrogation
Bracing themselves for a week-long interpellation session of the government in the National Assembly, ruling and opposition parties are bent on working out strategies for dealing with politically sensitive issues. Reportedly, the ruling Millennium...
POSCO to Invest W4.2 Tril. in Infocom, Energy by 2005
POSCO (Pohang Iron and Steel Co.) is planning to invest a total of 4.2 trillion won in such prospective business fields as information, communications and energy by the year 2005. In a biannual meeting with the press yesterday, POSCO chairman Yoo...
Profitability of IMT-2000 under Spotlight
The profitability of IMT-2000 (International Mobile Telecommunication) is once again under the spotlight as uncertainties surrounding the introduction of the synchronous technologies remain. Even Hanaro Telecom, which is about the only company which...
Resolute Leadership Key to Seoul's Reform Success
A research analyst said resolute leadership is the key to the success of Korea's reform. ``The Kim Dae-jung Administration did not consistently carry out the critical economic reform since such a decisive mission could snatch the ruling power from...
Ruling Party Calls for End to Political Strife
Rep. Hahn Hwa-kap of the ruling Millennium Democratic Party (MDP) yesterday called for an end to the political tit-for-tat in an effort to concentrate on reviving the sagging economy. ``I propose that the ruling and opposition camps pledge not...
War Declares against Cyber Crime
Law-enforcement authorities have declared an all-out war against Internet- related crimes, which have been on a rapid increase as of late. The prosecution said yesterday that it has decided to launch a harsh crackdown on web sites used as hotbeds...
Xers Shut Down Sakers 106-104
Yang Kyung-min broke out his slump with 28 points including 9-for-13 from the field as the Sambo Xers nailed down a come-from-behind victory over the host LG Sakers 106-104 in Korean Basketball League action in Changwon, Kyoungsang-namdo on Tuesday...