| KCC Setup Countermeasures to Block Spam Mail |
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The Korea Communications Commission has come up with comprehensive measures to block spam mail and other unsolicited advertisements from being sent to mobile phones and e-mail accounts.
As part of its efforts, the Commission will reduce the daily limit on sending short messages from the current one-thousand to five-hundred per account.
Meanwhile, mobile phones will be upgraded to block up to two hundred numbers, up tenfold from the current twenty.
In addition, the KCC will notify telecommunications service providers with a real-time list of mass spammers in order to block them.
The commission said it will discuss with the service providers about ways to implement these measures, which will go into effect in December.
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| Lee Praises Incheon Bridge as One of the World’s Greatest Constructions |
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President Lee Myung-bak has praised the Incheon Bridge, boasting about its beauty and technological prowess while stating that it will become one of the world’s greatest construction projects.
Speaking at the opening ceremony for the new bridge, Lee commended the builders for their hard work over the past 52 months.
The president said that the Incheon Bridge is a roadway for South Korea to become a logistical center and that the western port city Incheon should become an international business hub as well as a cultural and eco-friendly city.
Lee expects the city to serve as a national growth engine. |
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| Samsung to Build LCD Plant in China |
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Samsung Electronics says it will build a two-point-six trillion won plant for its liquid crystal display (LCD) panels in Suzhou, China.
The world’s largest LCD panel-maker is planning to begin production at the new plant in 2011.
It will use a 7.5-generation facility which will most likely churn out 42-inch panels as 30- to 40-inch LCD TVs are the most popular in China.
Meanwhile, Samsung's rival LG Display is planning to build a bigger eight-generation factory in Guangzhou, China.
The two leading LCD panel-makers will compete fiercely to win in China’s fast-growing flat-screen TV market.
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| IMF Deputy Chief Says Coordinated Efforts Can Prevent Double-dip Downturn |
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Deputy Managing Director Takatoshi Kato says that if governments coordinate policy efforts, a possible "double dip" recession can be prevented.
Kato announced at a news conference in Seoul Friday that the global economy will be able to avoid a double-dip if the governments follow through with an agreement reached at the Group of 20 summit last month.
The double-dip phenomenon refers to an economy, which already underwent a recession, sliding back into another recession following a short-lived recovery.
The deputy managing director went on to say that the governments implemented expansive policies almost at the same time in the wake of the global financial crisis.
However, since the speed of recovery is different from economy to economy, a government should individually tailor its exit plan in time with its own recovery.
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| S.Korean, Japanese Central Banks Agree to Extend Currency Swap |
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The Bank of Korea (BOK) says the nation has agreed to extend its currency swap facility with Japan by an additional three months, setting a new deadline at February first 2010.
At the end of last year, the two countries raised the won-yen swap line from three billion U.S. dollars to 20 billion dollars.
In March, they extended the maturity date to October 31st.
The central bank expects the extension will help stabilize the regional financial market as the uncertainties in the global economy and financial market remain.
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| Party Leaders Stump on Fri. |
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Leaders of ruling and opposition parties are campaigning in full force for the upcoming October 28th by-elections.
On the second day of the official campaigning period, leaders of the ruling Grand National Party (GNP) started canvassing at a train station, a local welfare center and at marketplaces in Suwon, Gyeonggi Province.
In the afternoon, GNP Chairman Chung Mong-joon visited a local discount store in Ansan, Gyeonggi Province, while the party’s supreme leadership committee members campaigned in South Gyeongsang Province and North Chungcheong Province.
Meanwhile, main opposition Democratic Party (DP) Chairman Chung Sye-kyun took part in a rice harvest event in Eumseong, North Chungcheong Province, after which he met with local officials to discuss rice prices.
Chung will continue campaigning in the other four Chungcheong districts on Saturday.
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| Marine Week 2009 to Open in Busan |
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Marine Week 2009 will open October 21st for a four-day run in the southern port city Busan.
The Navy said it will hold the maritime event jointly with related ministries, organizations and self-governing bodies at the BEXCO convention center in Busan.
Marine Week, one of Asia’s largest umbrella maritime events, is home to three exhibitions: one on naval defense equipment and technologies, one on logistics and facilities for shipyards and ports, and another on dockyards, sailing equipment systems and maritime equipment.
Over one-thousand companies from 53 countries will unveil their newest technologies and products at this year’s event.
The Navy will set up a booth at BEXCO where visitors can partake in simulations on naval vessel rides and can visit 50 ports around the globe.
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| S.Korea’s Longest Bridge Opens in Incheon |
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The nation’s longest bridge has opened after five years of construction.
The 21-point-four-kilometer construct is a cable-stayed bridge connecting Songdo International City in the western port city of Incheon with Yeongjong Island, which is home to Incheon International Airport.
The opening of Incheon Great Bridge will be marked with walking and bicycle races on Saturday and Sunday.
The bridge is capable of withstanding a 7.0-magnitude earthquake and up to 72-meter-per-second winds.
The bridge, which connects Incheon International Airport Expressway and the nation’s second Gyeongin Expressway, will cut down the time it takes to travel between the airport and southern Seoul.
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| Natural Disasters in Summer Cause 250Bln Won in Damage |
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The nation's disaster control authorities say 12 people died and 250 billion won worth of property was damaged by heavy rainfall and other natural disasters this summer.
The National Emergency Management Agency said Friday that the amount of monetary damage caused by natural disasters this year is 84 percent less than the average put up over the last ten years.
The agency said the damage figure was relatively favorable due to the nation not being directly affected by typhoons this year --- despite heavy rainfall in July --- and the effectiveness of an early alert system for regions likely to be hit by natural disasters. |
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| GM Daewoo Likely to Repay KDB Loans Fri. |
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GM Daewoo Auto and Technology is likely to pay off on Friday the loans it has received from the Korea Development Bank (KDB).
A KDB official said that a loan of 125-point-eight billion won that matures on Friday is likely to be paid off by the South Korean branch of the U.S. automaker General Motors, as the auto firm has not asked for an extension of the maturity date.
The official said GM is choosing to pay off the loans due to improved financial conditions resulting from increased sales.
The official added that the automaker is also seeking to discuss with KDB officials other means of stabilizing its financial soundness. |
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| Seoul ADEX 2009 to Open Oct. 20 |
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The Seoul International Aerospace and Defense Exhibition 2009 (ADEX 2009) will open next week at Seoul Airport in Seongnam, Gyeonggi Province.
The Korean military has planned a wide array of events to promote the domestic defense industry during the six-day event set to open on October 20th.
For the first time this year, the Seoul Air Show and Defense Asia --- an exhibition on ground weapons --- have been consolidated under the new name “ADEX.”
About 80 defense officials from 47 countries and 270 aerospace and defense companies from 27 nations will participate in the event.
The South Korean military plans to hold for senior military officials from abroad a demonstration on homegrown weapons and equipment as well as a tour to domestic defense companies.
The Agency for Defense Development plans to display homegrown weapons and defense equipment, including the K-9 self-propelled howitzer and the K-2 battle tank. |
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| Sejong Exhibition Hall Drawing Visitors in Droves |
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More than 70-thousand people have visited the exhibition hall for King Sejong the Great since its opening a week ago.
The Sejong Center for the Performing Arts, which operates the "Sejong Story" hall, said Friday that a daily average of ten-thousand people has visited the hall located under the statue of King Sejong the Great at Gwanghwamun Square in downtown Seoul.
In particular, about 54-thousand people visited the hall over the weekend.
The center plans to extend operating hours by two hours to 10:30 p.m. on Sundays. |
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