2009.08.25 – Seoul will organize on September 16th and 17th the “2009 Korea Job Fair”. 150 companies will attend this fair oriented on young people in their 20s and 30s. Seoul already announced that 1,000 jobs will be offered. Organized in the SETEC in Daechi-Dong in Gangnam-Gu (Séoul), this fair will allow young without qualifications but also experimented workers to come and find a new job. Many booths will propose consultation, will teach how to write a resume, will advise on proper clothing and code of conduct, etc. A website has already been launched with lots of information: www.koreajobfair.co.kr.

2009.08.25 – The new semester will be delayed in many schools in Korea. With the increase of H1N1 cases, schools, which should reopen yesterday, have decided to avoid any mass infections among students. Today, 3 middle schools, 12 high schools and 1 international school, which totalized 38 cases of infection since the beginning of the year, are included in there schools. South Korea accounts 3113 cases with the 118 new cases added yesterday. Government wished to fight against a flu pandemic which could happen in autumn and winter. 10% of the population (about 5.31 million citizens) could be inoculated with the anti-virus Tamiflu and Lee Myung-Bak pushed yesterday the government to propose an extra emergency budget. Lee Jong-Koo, Director of the Korea Centers for Disease Control and Prevention, went to Brussels to negotiate for a vaccine with GlaxoSmithKline and will go to Lyon in the headquarters of Sanofi-Pasteur, leader in the vaccine maker’s market.

2009.08.25 – According to a recent survey conducted by the KOTRA (Korea Trade and Invest Promotion Agency) among 636 Korean companies, near the half (48.6%) of the companies established in China wish to expand their business despite a global economic recession. A good result added to the 41.17% other which expect to maintain their operation. Only 6.1% plan to reduce their business (with 0.9% planning to move to other countries and 0.3% withdrawing from the country). Through the same survey, reasons which push companies to develop their investments in China are first to better target the expansive domestic market (34%), followed by cheaper labor costs (20.9%) and the deterioration of South Korea’s business Environment (10.6%). 48.5% of the companies said China is becoming more business-friendly against 36.7% thinking the opposite. KOTRA President is know thinking how to help better the Korean companies which plan to expand their investments in China.

2009.08.25 – The first semester has seen LG Dacom retaken its second rank in the fixed-line telecom market, rank it did not reach in the last 8 years. The sales of LG Dacom reached $720 million between January and June, $1 million better than SK Broadband which shifted to the 3rd rank and which was second since 2001. Sales have boomed in the second quarter with $372 million for LG Dacom, making the difference with SK. Profits on operations increased by 50% in this period and net profits by 78% compared to last year. SK Broadband could have had difficulties through the slowdown of the high-speed Internet market and landline telephone markets, but also the underachieving IPTV services. Experts said that if LG Dacom continues like that in the second semester, added with the fact that LG Dacom will try to absorb its subsidiary LG Powercom, SK Broadband should meet difficulties to reach again its second rank. KT is still the number one in the fixed-line telecom market.

2009.08.25 – Briefly: Hyundai Motor organized a “Driving Camp” las weekend with rallies and other events to promote its Click vehicles; South Korea sent fresh troops in the Somalia coasts with 300 new troops on the Dae Jo Yeong destroyer to replace the Munmu the Great which escorted 300 boats since the beginning of the operations; G-Dragon, leader of the group Big Bang, who launched its new solo album, is victim of plagiarism rumors, as its title “heartbreaker” sounded like “Right Round” by American singer Flo Rida, and its title “Butterfly” sounded like “She’s Electrics” by British band Oasis; The police released today pictures and videos of the main suspect who stole the ashes of deceased actress Choi Jun-Sil.

2009.08.24 – South Korea made its final tribute for the state funeral of the former president and Peace Nobel Laureate Kim Dae-Jung, who died on August the 18th due to a multiple organ dysfunction syndrome aged 83 years old. A National Burial Ceremony was held yesterday in the front of the National Assembly on Yeouido Island, in Seoul (West part of the Han River). President lee Myung-Bak was there, but also Kwon Yang-Sook, former first lady (Roh Moo-Hyun died in April 23rd) and former Presidents Kim Yong-Sam (82) and Chun Doo-Hwan (78). A foreign delegation was also present with Madeleine Albright, former US Secretary of State. After the Ceremony, Kim’s family and officials went to the Seoul National Cemetery in Noryangjin. Kim Dae-Jung, President from 1998 to 2003 who was the only Peace Nobel Laureate in Korea, was the father of the democracy and the recovering of the economy in the peninsula.

2009.08.24 – Whereas Korea was mourning the death of Kim Dae-Jung, who establish new relations with North Korea through the signature of a joint declaration on June 15th 2000 with Kim Jong-Il, a delegation from North Korea met President Lee Myung-Bak on Sunday morning. A part of the delegation (3 people), sent by Kim Jong-Il to pay respects to Kim Dae-Jung, met during 30mn President Lee to deliver a message regarding the recent improvement of the relations between the two sides. Kim Ki-Nam, key aide to Kim Jong-Il, said that “everything was all right”, adding on the tarmac of the Gimpo Airport that they were “leaving with a good feeling”. The delegation which arrived on Saturday and which should leave the same day, asked to meet President Lee on Sunday.

2009.08.24 – Foreign Direct Investments continued to increase in South Korea, despite the global recession. The Ministry of Knowledge Economy reported that FDI from January to July increased by 32.4% compared to last year, a total of $6.762 billion. July was a good month with $2.148 billion whereas the first semester had a small increase (+2.1% with $4.644 billion). Ministry said it was due to massive investments from a UK-based retailer ($690 million) and a Netherland-based services company ($640 million). FDI from China and Vietnam dropped respectively by 20.3% and 89%. The increase of FDI from Japan and the European Union can be attributed to the weak Won and the fast recovery of the Korean Economy.

2009.08.24 – The KSLV-1, better know as Naro-1, will be launched tomorrow after many technical problems since the end of July. The first South-Korean satellite should have been launched on August 19th, but the launch was automatically aborted after technical problem. The Ministry of Education, Science and Technology indicated that all the software problems have been resolved. The rocket has already been installed on the launch pad on Sunday in Goheung, South Jeolla Province. After seven tries, experts hope the eight one will be the last (8 is a lucky number in Korea). All Korean will see the launch tomorrow on their TV between 4:40pm and 6:20pm. The first communication with the satellite will be made 12 to 13 hours after the launch.

2009.08.24 – Briefly: Samsung Electronics launched its new cell-phone AMOLED in 2G version with a 2.8 inches screen for the brighter and cleaner resolution; The Tucson IX by Hyundai Motor, which will be launched tomorrow, was driven in Seoul City decorated to mimic jeans for the pre-launch promotion; Park Ji-Sung is worrying as he did not attend the two last matches of Manchester United, even he was not included on the bench; Hybrid cars buyers will get a subsidy of $1,600 from the government starting next year, as hybrid cars are more expensive than other cars.

2009.08.05 – The visit of the former US President Bill Clinton is historical. Welcomed in the Pyongyang Airport, where his private jet landed yesterday, by several North Korean officials including Kim Gye-Gwan, Chief nuclear negotiatior, and Yang Hyong-Sop, Vice-President of the Presidium of the Supreme People’s Assembly, Clinton arrived with a civilian delegation to discuss about the two American journalists retained since mid-March in North Korea. Bill Clinton met few hours later the “Dear Leader” Kim Jong-Il. The former President delivered a message from actual President Obama to Kim Jong-Il who expressed his appreciation. A “serious” discussion followed the message. The international community, beginning with South Korea, has been a bit surprised by this unexpected visit. USA and South Korea do not want to express any opinion due to the sensitivity of this visit.

2009.08.05 – Ssangyong watches the end of the road. Korean police launched yesterday a first assault on the paint facility in the Pyeongtaek complex where 550 employees confined since May 22nd to manifest against the liquidation of the carmaker. A commando came through the roof near the paint facility while a group of 300 policemen approach within 5m. The strikers launched nuts, bolts, Molotov cocktails and other burning tires. Several people were hospitalized. Since the negotiations have been aborted earlier this week, 114 people accepted to leave the plant. Today, the police should try to enter the paint facility to end this 3-month strike costing $260 million in lost production and which saw 4 people committed suicide (worker’s wife).

2009.08.05 – The Ministry of Education, Science and Technology announced yesterday the hiring of 546 volunteers, Koreans residing abroad and foreign university students, to teach English in the rural regions of the South Korean peninsula for the third session of the TALK Program (Teach And Learn in Korea). An orientation session has been organized since yesterday to dispatch the teacher in their school from September. 102 teachers already attended the first and second session of this program, and among the 444 new teachers, 64% are Koreans who were born or have lived abroad, and 36% are foreigners. The TALK Program has been launched in September 2008 to offer after-school courses to students in the rural places. Teachers will have three weeks to learn pedagogy, school management, Korean culture and history.

2009.08.05 – Facility investments decreased in South Korea during the first half by more than 20% from a year earlier. The Bank of Korea (BOK) reported that companies reduced their investment for a total corporate capital spending of $30 billion, less than the 37.5 billion in 2008. This first decrease recorded since 2001, when the investment dropped by 8.6% to $27 billion, is not due to the fact that companies do not have enough funds, but to the fact that companies meet difficulties to execute long-term investments plan. The BOK reviewed its forecast for 2009, announcing today that the annual investment decrease could be 15.1%, 3 points better that the 18% drop announced in April.

2009.08.05 – Briefly: The Korea Food and Drug Administration launched a guide-book to prevent the use of hair-removal products, the market increasing quickly with the increase of bikinis in Korea; Korea delayed again the launch of this first rocket (scheduled for August 11th) after a critical combustion happened during a test last week; The IPTV is still increasing in Korea with 595,000 subscribers (+127,000 in July) totalized through the three operators KT Corp. (which unified QOOK service website), SK Broadband and LG Dacom; Samsung Electronics launched yesterday its new CCTV (Closed Circuit Television Camera) SCC-C6455 with the highest zoon ratio among all the CCTVs.

2009.08.03 – Exports and imports continues to drop for the ninth consecutively month. A weak demand from China and USA pulled down the exports -20.1% to $32.7 billion in July (-12.4% compared to June). Imports also decreased by -35.8% to $27.6 billion, representing a trade surplus of $5.1 billion. According to the government, exports should rise from October, pushed by a weaker currency and a high demand. Forecasts for 2009 are expecting a drop of exports and imports, respectively -14.4% and -24.2%. Economic indicators send positive expectations, as Samsung Electronics, which represent 15% of the Korean exportations, announced in June that it realized its highest quarterly profits since two years, LG Electronics also recorded high-profits and Hyundai Mobis, biggest auto part marker, increased its profit by 36%.

2009.08.03 – After a 14-month construction period, Gwanghwamun Plaza opened on August 1st to the public, in the heart of Seoul, in the front of Gwanghwamun Door and Gyeongbukgong palace (Joseon Dynastie, 1392-1910). It is an historically opening, as the plaza is located on the avenue where the Kingdom’s administrative buildings were. 34-meter-wide and 557-meter-long represent the new vision of Korea and Seoul. On the eastern side, stones are engraved with the history of Seoul between 1392 and 2008. Waterway streams along the plaza for about 365 meters are circling Yi Sun-Shin, Korea’s Hero who defeated the Japanese invasion through a naval battle in the late 16th century. A monument of King Sejong should erect in October 9th, 250 meters behind Yi Sun-Shin, for the anniversary of the creation of the Hangeul. The Mayor of Seoul (Oh Se-Hoon) considered the place as equivalent as the Paris’ Champs Elysees, London’s Trafalgar Square or Beijing’s Tiananmen Plaza.

2009.08.03 – The Korea National Tourism Organization reported that domestic number of Korean tourists ois increasing. Why? A high won-dollar rate, the increase of fuel prices and the H1N1 influenza. More than one million domestic tourists stayed in Korea, the first time since 2003. Hana Tour, biggest tour agency in Korea, recorded less than 100,000 booking for August, the peak of the summer holidays (98,676, -14% compared with 2008). Tourists who wished to go to Europe changed their plan as one Euro is near 1,800 won range since a few month (never seen in the past 10 years) and airlines increase their tickets rates by more than 30% to cover rising fuel bills. The country is saturating, in the motels and villas (+20% in the most touristic places), on the roads (4.1 million cars in August 1st, third highest record) and other transports (plane and ferries to Jeju Island are fully booked).

2009.08.03 – Donguibogam. That is the name of the new Korean historical document that entered the UNESCO’s Memory of the World Register. This compilation made in 15 years gathered 25 Joseon-era Korean medical books. The Donguibogam, called “exemplar of Korean Medicine, has been chosen as it is considered as an important source of information on East Asian Medicine, initiator of techniques which highlights the evolution of medicine in Asia. It is the seventh Korean document being registered in the UNESCO list, the most among Asian countries. Among the other documents are “The Annals of the Joseon Dynasty” and the “Hunmin Chongum Manuscript” (1997), the “Seugjeongwon Ilji” and “the diaries of the Royal Secretariat” (2001_ and “the royal protocols of the Joseon Dynasty” (2007). Once registered, documents are copied and digitalized to make easier the accessibility of the global public.

2009.08.03 – Briefly: Hyundai Department Stores launched on August 2nd their new foldable sun hats, the new summer trendy in Korea; Hyundai and Kia launched in South Korea their “Assurance Program” (launched in January in the USA) to protect consumer from car accidents or job losses; The first “River Cruise” boat designed for river and lake, called “Michuhol”, has been produced in Ulsan by Hyundai Yacht and Hyundai Life Boat and can transport 12 passengers and one captain; The US actress Sienna Miller, who made the promotion in Korea of G.I. JOE, met LG Electronics officials for a partnership regarding the design of a new product, maybe the New Chocolate Phone to be released in September.