중앙데일리

Confrontation between Government and Banks Escalates

An urgently called breakfast gathering of presidents of Korean domestic banks on June 22 ended with disagreement and aggravated tensions. At the heart of the dispute is the government’s recent announcement on June 20 of its policy to extract $7.3 billion in contributions from local banks under the banner of a market stability fund. The money will go to create a fund to finance the purchase of bonds previously issued by companies to resolve t…

June 23,2000
Government Must Disclose Summit Details

Following the success of the historic inter-Korean summit June 13 to 15 in Pyongyang, a frenzy of newspaper articles and press reports have been interpreting and analyzing the few details to come out of the Pyongyang summit. President Kim Dae-jung asserted on June 21 the importance of informing the public with an accurate account of the talks in order to consolidate summit-related opinions from both the ruling Millennium Democratic Party (MD…

June 22,2000
Doctors Cross The Line

The government-initiated medical reform plan is approaching a vicious turn, with the nation’s medical facilities at a virtual standstill. Clinics have closed their doors to those seeking medical help, including vulnerable infants and the elderly. Doctors’ protests don’t seem to correspond with their earlier proclamation, ‘For the Citizen’s Health.’ The president of the Korean Medical Association (KMA) suggested, “Patients can use emergency me…

June 21,2000
Garlic Dispute Creating a Big Stink

If you asked me to pinpoint the stance the government is taking on the trade war threatening to start between Korea and China, I would be very hard-pressed to give you a definitive answer. What started, according to China, as unfair taxation by the South Korean government on cheaper Chinese garlic, has resulted in retaliatory restrictions on Korean products like mobile phones. With each agreeing that further ‘friction’ in trade must be avoid…

June 20,2000
Veterans Change Tune toward North Korea

The Korean Veterans Association held a rally yesterday at the Chamshil Olympic Stadium in Seoul to voice their support for the just-completed summit and to promote further efforts to reunify the divided peninsula. Veterans gathered at the rally under the slogan, “Rally for the Peaceful Reunification of the Korean Peninsula.” A statement released by the Korean Veterans Association summed up the purpose of the rally, “We have made one giant st…

June 19,2000
Trouble in the Economy

Is the party over? The emotional aftershock from the historic inter-Korea summit talks hasn‘t yet completely faded, but the cold reality is slowly starting to sink in. In the capital market in particular, conditions don’t look too good. Except for companies like Samsung, LG, SK, Lotte and a few of the strong small- and middle-sized companies, most firms are having trouble gathering enough cash for company maintenance. Regardless of the size …

June 18,2000
Looking at North Korea As It Is

During the past two months we have received so many telephone calls related to the series of 18 articles entitled, ＇Changes in the Winds Blowing to North Korea,＇ published in JoongAng Ilbo beginning April 25. Many readers, including elementary school students doing their homework, housewives, people separated from their hometowns in North Korea, officials at the Ministry of Unification, researchers at universities and research institutes, and off…

June 16,2000
Kim Jong-il Unveiled

The summit now underway in Pyongyang, North Korea is the center of attention for most of the world. In particular, seperated families in Korea are desperately hoping for the reunification of the two Koreas. South and North Korea have been technically at war since the Korean War. Each stage of the summit has been broadcast on television. Kim Jong-il attracted a great deal of atttention when he unveiled himself to the world. A great deal of cur…

June 15,2000
Cheju Authorities Flip-Flopping on Mt.Songak Development

Even though its has been dormant for millennia, the activity surrounding Mt.Songak on Cheju Island could rival any of its ancient eruptions. In December, 1997, Cheju Islands provincial office has been funding extensive geological research which has recently been published under the title ‘Cheju Erupting’. An in-depth survey of the geology unique to the island with its volcanoes surpassing 300 in number, the publication is a bid to halt the d…

June 14,2000
Consumers Will Bear Nonsensical Increase in Banking Fees

Managing executives of local banks are protesting the government’s decision to raise the security deposit insurance fee next month by 100 percent across the board - with no discrimination between insolvent banks and top-ranking ones. The security deposit insurance system refers to the practice of charging a certain amount from each bank account according to the bank balance, as insurance against bank insolvency. In the past, banking agencies…

June 13,2000

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