SM3 domestic sales top 60,000

Renault Samsung Motors Co. announced Thursday that the number of SM3compact cars sold in the domestic market broke the 60,000 mark in June, a year since the vehicle made its debut.

SM3

According to the company, the SM3 has maintained an average domestic market share of 20 percent. The company said that the car has been particularly popular among those in their 20s who are buying their first cars, while an increasing number of motorists in their 50s have been purchasing the vehicle. 

By sex, 74 percent SM3 buyers were male and the LE trim was the most popular during the past year, the company said.

Galaxy S selling fast; pre-orders reach 1m

SK Telecom said Friday that 10,000 units of Galaxy S, Samsung Electronics’ flagship smartphone, sold out in the first five hours of going on Thursday. 

The number of mobile application downloads also surged 20 percent on SKT’s T Store. About 8,400 new customers registered to use the service, up from the daily average of 5,600, only on Thursday, said its officials.

Galaxy S was available in all branches of SKT beginning on Friday, however, some stores were equipped with the new mobile model Thursday due to the customers’ soaring demands, they said. 

The local electronic giants’ flagship smartphone, powered by Google’s mobile operating system, is planned to be sold through 100 carriers across the world, Samsung officials said earlier. 

Officials added that Samsung has already received 1 million pre-orders from the operators. 

People buy Samsung Electronics’ Galaxy S smartphones at an SK Telecom store in Seoul on Friday. Yonhap News

Kim Yu-na receives two Fs in college last year

 Figure skating Olympic gold medalist Kim Yu-na was given two Fs in her university courses last year, school officials said Friday, according to Yonhap News.



   The 19-year-old skater is a sophomore at Seoul's Korea University, but has hardly attended classes because she trains in Toronto, Canada, throughout the year.

   University President Lee Ki-su told reporters on Thursday that Kim failed two classes, but did not say on which subjects.

   Kim has mostly studied through the Internet while training, and submitted papers in place of taking midterm and final exams.

   "Kim received F grades as she was unable to take midterms and finals," said an official at Korea University. "I believe the professors who gave her Fs judged that they could not give her credits based on papers alone."

   Kim won three Grand Prix titles last year and earned the country the first ever Olympic gold in figure skating at the Vancouver Winter Olympics in February. She is currently back in Canada preparing for the season opener slated for October.

Man runs across U.S. to mark Korean War

A retired New York City businessman of Korean descent made it in his Forrest Gump-like run across the United States. 

The 65-year-old Kwon Yi-joo began the coast-to-coast marathon from Los Angeles on March 23, ran for eight hours every day for 95 days, and finally crossed the finish line in front of the United Nations in New York City on June 25. 

The distance of his was about 5,100 kilometers. 

He finished the cross-country ordeal to commemorate the 60th anniversary of the 1950-1953 Korean War, the Yonhap news agency reported. On June 25, ceremonies were held across the U.S. as well as Korea. 

He started the race with an intention to promote world peace and the need for Korean reunification, and also with a hope of letting the world know that the Dokdo islets belong to Korea, not to Japan as it claims. 

“My experience of the cruelty and inhumanity of war prompted me into taking up marathon campaigns for world peace and the reunification of my native Korea,” said the Vietnam War veteran on go2marathon.org, a website about his cross-country marathon.

Kwon Yi-joo crosses the finish line in front of the United Nations on June 25 after running across the U.S. from Los Angeles in 95 days. Yonhap News

B-Boy World Cup to kick off in Seoul

World class break dancers from around the globe will converge in Seoul next month to battle for the title of world’s best B-boy crew.

The annual dance competition titled “R-16 KOREA 2010,” organized by the Korea Tourism Organization, will be held at the Olympic Park in Jamsil, southern Seoul. 

An estimated 120 members from international crews, emerging DJs and hip-hop artists from 16 countries will participate in the forthcoming competition set to begin July 3-4.

The competition, which was established to boost inbound traffic for the growing travel industry, is in its fourth year. 

All participating crews were chosen through preliminary competitions in their respective countries, ensuring only top-level dancers will showcase their talent. 

A local B-boy crew performs at last year’s R-16 Korea competition in Seoul. KTO

Samsung, LG products among year’s best

Samsung Electronics’ refrigerator, LED television and LG Electronic’s air conditioner were among the 34 best products of the year chosen by the Korea Management Association Corporation. 

The organization announced Monday the result of its survey with 12,668 customers in the metropolitan region. 

In the electric houseware and information technology sector, Samsung’s Zipel refrigerator designed by Massimo Zucchi, Samsung PAAV LED television, LG Electronic’s Whisen air conditioner, Apple’s iPhone, Chungho Nais water purifier and Canon’s EOS digital camera were chosen among the best. 

For the automobile and residential sector, Mercedes-Benz S-Class, Hillstate of Hyundai Construction and Simmons’ mattresses were picked as the most prestigious items.

Lock and Lock Glass, Cheil Industries’ men wear Galaxy, Chanel, Hermes and Amore Pacific Sulwhasoo were picked in the fashion and living areas.

For the financial sector, W-CMA cash back service of Tong Yang Investment Bank and Hyundai’s “The Black” premium credit card ranked No. 1 and Samsung Medical Center, Seoul National University Hospital Healthcare System were rated best among hospitals.

Shilla Hotel, Hilton Namhae Golf and Spa Resort, Galleria Department Store’s luxury good hall and the culture center in Hyundai Department Store were listed in the top for the service sector.

The list of attention-grabbing new services and items included Daum Communications’ map service Road View, Nongshim’s Doongji rice noodles, known better as pho to foreigners, Kooksoondang’s fresh makgeolli and Kia Motors’ K5 model.

[NEWS ANALYSIS] Seoul awaits U.N. decision after summit

All eyes are on the U.N. Security Council as Seoul expects a decision on the international organization‘s response to the sinking of the Cheonan after a meeting with leaders of the world’s major powers.

In particular, how nations such as China and Russia -- countries with traditionally close ties with North Korea -- will react will be of significant interest as they both have the right to veto.

A no-go from either of the permanent members indicates that the Council will be unable to adopt a new resolution condemning Pyongyang.

Government officials and experts here have hinted that a chairman‘s statement denouncing the North may also suffice as long as there is a clear message.

“The Council needs to make sure that it sends a clear message criticizing the North for its actions,” said one official on the condition of anonymity. “If it does not, and then allows the North to come back to the six-way talks, how would it look?” 

A five-nation investigation team led by Seoul in May concluded that Pyongyang sank its 1,200-ton Navy corvette with a torpedo in March. The incident led to the deaths of 46 of the sailors aboard.

South Korea referred the issue of the Cheonan to the Council on June 4, calling it a clear military provocation that violates the U.N. Charter and the Armistice Agreement.

The 1950-53 Korean War ended in a cease-fire banning both Koreas from taking military action against the other. 

The U.N. Security Council, as it makes its decision, may take into account a recent statement issued by the G8 countries on Saturday while wrapping up a two-day summit in Canada.

President Lee Myung-bak (left) holds talks with Chinese President Hu Jintao in Toronto on Sunday. Yonhap News

Military exemption debate heats up

South Korea’s World Cup campaign is officially over after a close defeat to Uruguay on Saturday. However, the debate over the military service waiver for the national team players will likely begin this week.

The issue was first put on the table by Cho Chung-yun, chief of Korean Football Association, last Wednesday. 

“What the players want is to be exempted from their military service duty,” Cho told reporters after South Korea drew 2-2 with Nigeria to secure the berth in the second round of the World Cup. 

(Yonhap)

Leaders of allies press China over Cheonan sinking

TORONTO -- Leaders of South Korea, the U.S. and Japan pressed China on Sunday to join the condemnation of North Korea for its alleged torpedo attack on a South Korean warship, while Beijing continued to underscore peace and stability on the Korean Peninsula.

During his meeting with Chinese President Hu Jintao on the sidelines of the G20summit, South Korean President Lee Myung-bak stressed the need for “appropriate international cooperation” to prevent further North Korean provocations.

“As North Korea’s continued provocation poses a grave threat to the peace and stability on the Korean Peninsula and the Northeast Asian region, appropriate international cooperation is necessary to prevent recurrence (of provocation),” Lee was quoted by his aides as telling Hu.

Hu responded that Beijing disapproves of any act that disrupts peace on the peninsula but did not directly blame North Korea, according to Seoul’s presidential office.

”I fully understand South Korea’s position. Let’s continue close consultations in the process of responding (to the issue) at the U.N. Security Council,” Hu was quoted as saying. 　

Earlier Sunday, U.S. President Barack Obama criticized China’s “willful blindness” in being reluctant to acknowledge North Korea’s culpability for the sinking of a South Korean warship.

President Lee Myung-bak (center, front row) and other leaders of G20 nations wave at the end of their two-day summit in Toronto on Sunday. Yonhap News

New looks change image of auto firms

Hyundai and Kia seek boost from improved design and engineering 
Hyundai Kia Automotive Group’s two carmakers are carving out new images for themselves with new design principles and advanced technologies. 

New design philosophy of Hyundai Motor Co., the larger of the group’s two carmakers, began to show in its vehicles with the latest version of the mid-sized sedan Sonata and the compact sport utility vehicle Tucson ix that were launched during the third quarter of last year. 

“The underlying theme of Hyundai’s design concept is ‘fluidic sculpture,’ which combines smoothness with strength in organic designs,” a Hyundai official said.

The change in the company’s approach to design first became evident in the Tucson ix that was launched in August last year. 

“The Tucson ix reflects the dynamic design of the concept car ix-onic, and by combining the sporty image and modern aesthetics, the design features of the Tucson ix were developed to appeal to young urbanites,” a Hyundai official said.

Hyundai Tucson ix

Korea faces inflation risk: Fitch economist

A senior economist of Fitch Ratings raised concerns Tuesday that Korea may face the risk of price inflation as the country is recovering fast through stimulus measures.

Brian Coulton, head of the company’s global economics, said accommodative measures taken by emerging economies could be over-stimulating the market.

“Emerging markets, for the past year or two, introduced aggressive stimulus measures. But outside Russia and Eastern Europe, the financial crisis was less severe and concerns for inflation could emerge,” Coulton told reporters.

“If you have that aggressive monetary policy easing when your economy doesn’t slow so much, then obviously the risk turns in the other direction.”

Brian Coulton

Fitch’s sovereign rating of Korea currently stands at A plus, its fifth highest investment grade. The rating is a level below the AA minus it gave just before the 1997-98 Asian financial crisis. 

Fitch will send a delegation to Seoul next week for an annual meeting with the country’s policymakers, the Finance Ministry said. 

Analyst James McCormack is expected to have talks with officials from the Finance Ministry, Foreign Affairs Ministry and the Bank of Korea next Tuesday.

Chang Hea-kyu, director of the company’s Korean arm overseeing banks, said the recent tightening of foreign banks’ usage of currency derivatives is likely to bring minimal benefit to the market.

Lee, Kan discuss FTA, North Korea and G20

TORONTO, Canada -- President Lee Myung-bak and Japanese Prime Minister Naoto Kan on Saturday agreed to continue efforts to resume talks for a bilateral free trade deal, which have been stalled since 2004, during a summit here.

In the first Korea-Japan summit since Kan took office early this month, the Japanese premier reaffirmed Tokyo’s support for Seoul’s stance on the sinking of the Cheonan and vowed to make efforts for a “new future” for the two countries without overlooking Japan’s past wrongdoings, Lee’s aides said.

The two leaders also discussed issues of mutual concern including the North Korean nuclear problem and agreed to cooperate for the successful hosting of the G20 summit in Seoul and the APEC summit in Yokohama in November.

Lee’s talks with Kan came after the Korean president’s summit with U.S. President Barack Obama, who also supports Seoul’s push for a U.N. Security Council action against the North. 

Lee also met with U.N. Secretary General Ban Ki-moon before attending a welcoming ceremony of the G20 summit Saturday evening.

President Lee Myung-bak visits the Meadowvale Cemetery in Brampton near Toronto on Saturday to pay tribute to the Canadian soldiers who gave their lives in the 1950-53 Korean War. Yonhap News

Cheollian enters orbit after liftoff

Korea’s first geostationary satellite was successfully put on its planned initial orbit after its launch from Guiana Space Center in Kourou, French Guinea, said officials Sunday.

The Ariane 5-ECA rocket carrying Korea’s first geostationary satellite Cheollian lifts off the Guiana Space Center in Kourou, French Guiana, Sunday. Yonhap News

The Cheollian satellite opened communication with the Dongara Ground Station in Australia at 7:19 a.m. on Sunday, 38 minutes after liftoff, according to the Ministry of Education, Science and Technology.

The satellite is then to make another contact with the KARI center in around 10 days in order to confirm its complete success.

It is also to contact other ground centers in Hawaii, Italy and Chile in between in order to confirm its proper position.

The Ariane 5-ECA, the joint projectile carrying Cheollian and the Saudi Arabian satellite Arabsat 5A, left ground at 6:41 a.m. Sunday, after two consecutive delays on Thursday and Friday.

Prior delays were due to pressure abnormalities found in the second-stage rocket by officials of Arianespace, the French company in charge of the launch, shortly before its initial launch hour.

Cheollian separated from the second-stage rocket 32 minutes after takeoff and successfully reached its geostationary transfer orbit, said officials.

Lee, Obama agree to delay wartime control transfer

TORONTO -- Seoul and Washington agreed Saturday to postpone the U.S. transfer of wartime operational control to South Korea until 2015, given the volatile security situation on the Korean Peninsula with North Korea’s continued military provocations.

President Lee Myung-bak and U.S. President Barack Obama agreed in a summit here to reschedule the OPCON handover to Dec. 1, 2015, three years later than previously planned. The two are in Toronto to attend the G20summit.

Obama also promised to submit the Korea-U.S. free trade agreement to the U.S. Congress in “a few months” from December after discussing necessary “adjustments,” stating that it will not be a “renegotiation.”

The decision to delay the OPCON transition “reflects the current security conditions on the Korean Peninsula and will strengthen the alliance of the two nations,” Lee told reporters after the summit.

President Lee Myung-bak and U.S. President Barack Obama hold a summit in Toronto on Saturday. Yonhap News

Taeguk Warriors exit cup with heads held high

They might have stopped short of progressing further into the tournament, but the South Korean national football team can take solace in having reached the final 16 of the World Cup for the first time away from home.

With the hallmarks of another spectacular run in place, mirroring their exploits in 2002, Huh Jung-moo’s men were unlucky to face unbeaten Uruguay -- a match which the Taeguk Warriors controlled and ultimately should have come out victors had luck gone their way.

With the team’s original goal of advancing from the group stages achieved, the team should hold their heads high despite the exit from the world’s most watched sporting event.

It was a rollercoaster ride for Huh’s men who had fought tooth and nail to clinch a spot to the next round.

The team began their campaign off to a flyer when they comfortably dispatched 2004 European champion Greece 2-0 on June 12.

It marked the tournament’s first victory since kick-off with many experts showering the team with praise for playing positive, attack-minded football.

Until then, all five matches had ended with other teams notching up unspectacular stalemates caused by overly cautious tactics that have become synonymous with modern football.

South Korea striker Park Chu-young gestures during the game against Uruguay at the Port Elizabeth Stadium on Saturday. Yonhap News

G-20 agrees to cut deficits once recoveries cemented

Group of 20 leaders endorsed targets to cut deficits and agreed to pursue higher capital requirements for banks once their economic recoveries take root.

Advanced economies will aim to at least halve deficits by 2013 and stabilize their debt-to-output ratios by 2016, according to a statement released as leaders finished meeting in Toronto on Monday. The G-20 said banks need to raise capital "significantly" and countries will be allowed to phase in new rules, with a goal of meeting new standards by the end of 2012.

"Honestly, this is more than I expected, because it is quite specific," German Chancellor Angela Merkel said, referring to the fiscal targets. "It's a success that industrialized countries as a group accepted this."

Stephen Harper, Canada's prime minister, left to right, U.S. President Barack Obama and King Abdullah of Saudi Arabia pose during the Group of 20 family photo in Toronto, Ontario, Canada, on Sunday, June 27, 2010. G20 leaders are poised to endorse targets to tackle deficits, while giving nations flexibility to carry out their stimulus plans, according to excerpts of a draft of the statement sent to reporters. (Bloomberg)

The G-20 also pledged to maintain existing stimulus plans and take "concerted actions" to sustain the recovery. Recent events highlight the need to establish "properly phased" plans to rein in deficits. Emerging market economies pledged to take measures to strengthen social safety nets, raise infrastructure spending and enhance exchange rate flexibility.

Home > News > National > News G-20 protests turn violent amid march through Toronto 2010-06-28 14:04 Text ETS offers college scholarshipLee condemns police torture caseAssembly panel rejects revised Sejong City planSeoul hopes G20 will support action on N.K.Humanitarian group calls for defusing of tensionInspiration comes from the body: pianistKorea faces inflation risk: Fitch economist‘Better to be big fish in small pond’Wage talks make little progressBusan New Port opens major facilities Anti-Group of 20 protests smashed windows of a police car and set it ablaze after thousands of demonstrators began a march through central Toronto in the biggest rally yet amid a meeting of global leaders. The police car was burning at the corner of Bay and Wellington streets. Protesters also threw rocks at windows at First Canadian Place, headquarters of Bank of Montreal, while others spray painted slogans including "bomb the banks" on the building. Demonstrators who met at Queen's Park, site of the Ontario provincial legislature, began a march heading south toward the downtown security zone that encircles the G-20 venue and then west along Queen St. West and north along Spadina Ave. Police estimated the crowd at 4,000, CP24 TV news reported. Police set up two lines to block the crowd, first with a group of officers on bicycles turning the demonstrators away from the security zone. A block further south, police in riot gear and on horseback blocked an intersection. The Toronto Transit Commission closed subway service and regional train service into downtown was halted. A 12-block section of the central core is surrounded by concrete barriers and three-meter (10-foot) high metal fencing, part of Canada's largest-ever security operation with 20,000 police and security guards. Canada is spending as much as C$1.2 billion ($1.16 billion) for the meetings to host world leaders, including C$930 million on security. (Bloomberg)

G-20 protests turn violent amid march through Toronto

Anti-Group of 20 protests smashed windows of a police car and set it ablaze after thousands of demonstrators began a march through central Toronto in the biggest rally yet amid a meeting of global leaders.

The police car was burning at the corner of Bay and Wellington streets. Protesters also threw rocks at windows at First Canadian Place, headquarters of Bank of Montreal, while others spray painted slogans including "bomb the banks" on the building.

Demonstrators who met at Queen's Park, site of the Ontario provincial legislature, began a march heading south toward the downtown security zone that encircles the G-20 venue and then west along Queen St. West and north along Spadina Ave. Police estimated the crowd at 4,000, CP24 TV news reported.

Police set up two lines to block the crowd, first with a group of officers on bicycles turning the demonstrators away from the security zone. A block further south, police in riot gear and on horseback blocked an intersection. The Toronto Transit Commission closed subway service and regional train service into downtown was halted.

 A 12-block section of the central core is surrounded by concrete barriers and three-meter (10-foot) high metal fencing, part of Canada's largest-ever security operation with 20,000 police and security guards. Canada is spending as much as C$1.2 billion ($1.16 billion) for the meetings to host world leaders, including C$930 million on security.

G-20 finance meeting ends with emphasis on fiscal soundness

The G-20 Finance Ministers and Central Bank Governors Meeting in Busan held on Jun. 4 and 5 for the first time in Korea at the Westin Chosun Hotel in Haeundae, Busan concluded with a communiqué that underlined the importance of fiscal soundness.

A total of 40 financial ministers from G-20 nations and governors from central banks participated, as well as governors of international organizations including the International Monetary Fund (IMF), World Bank (WB), Financial Stability Board (FSB) and Organization for Economic Co-operation and Development (OECD).   

The meeting mostly focused on reviewing progress on the agenda items for the coming G-20 Summits scheduled for this year, the first in Toronto, Canada, in late June and the other in Seoul in November.

Reflecting on the aftershocks of the financial market that followed the financial crisis in Europe, the latest meeting stressed international cooperation to enhance fiscal soundness. This came with an understanding that even though the global economy is recovering at a faster-than-expected pace, the variability in the market and other challenging factors still remains.