Minister separates N.K. aid from politics

South Korea believes in stabilizing relations with the North through dialogue and will not link humanitarian aid with political issues, Seoul’s unification minister said Tuesday. 

“Inter-Korean relations have been straining over the past two years due to North Korea’s measures,” Minister Hyun In-taek said during an annual parliamentary audit of government ministries. “Our government will keep to its principles, but carry out policies toward the North in a flexible manner.”

“Humanitarian measures will be carried out separately from political issues,” he said. 

Hyun asked the North to show a “matching effort” in easing tensions

The South Korean minister’s comments come shortly after the two Koreas resumed military dialogue for the first time since North Korea allegedly torpedoed a South Korean warship in March, killing 46 young sailors. 

Carmakers, shipyards to benefit from EU FTA

Korean carmakers, shipbuilder and mobile communications equipment makers will be the main beneficiaries of the nation’s free trade agreement with the EuropeanUnion.

The trade pact is due to be signed Wednesday in Brussels, and scheduled for tentative implementation next July 1.

According to a Samsung Economic Research Institute’s report, the pact will result in Korea’s gross domestic product growing by 3.08 percent, will boost Korea’sexports to the region by 12.8 billion euros ($17.5 million) and will push up Korean products’ share of the market to 3.9 percent.

Much of the rise in exports is expected to be seen in Korea’s top export items that are ships, mobile communications equipment, and automobiles. 

Ships accounted for 26.2 percent of Korea’s overall exports to the region in that year, while mobile communication equipment and automobiles respectively took up 10.7 percent and 5.8 percent.

Although the shipbuilding and mobile communication equipment industries are cited among those most likely to benefit, the effects will not be direct results of removal of tariffs.

Hyundai Sonata, BMW 5 Series, get top score on U.S. crash tests

Bayerische Motoren Werke AG’s 5 Series and Hyundai Motor Co.’s Sonata got the highest rating among passenger cars and trucks tested for crashes under a new U.S. rating system.

Female crash-test dummies were added to the male figures for the first time as the U.S. National Highway Traffic Safety Administration rated 34 models under a redesigned testing regime, the regulatory agency said today in a statement.

A 2011 Hyundai Motor Co. Sonata is displayed during the 2009 LA Auto Show at the Los Angeles Convention Center in Los Angeles, California, U.S.(Bloomberg)

BMW’s four-door, rear-wheel-drive 5 Series and the latest model of Hyundai’s Sonata were the only vehicles in the first batch rated to receive five stars, the top overall safety score. Both vehicles scored five stars on side-crashes and rollovers and four stars in frontal crashes.

Samsung earnings likely to top W5tr again

Samsung Electronics’ earnings for the third quarter were expected to once again hit 5 trillion won ($4 billion) to help give the local stock markets another boost, industry sources said Monday.

The world’s largest electronics company is slated to announce its tentative third quarter earnings Thursday. 

Industry watchers expected Samsung to record up to 5.4 trillion won in operating profit, and sales of 41.4 trillion won. The figures were based on forecasts by some 27 securities firms here. 

Kim Jong-il's heir-apparent son given political posts

North Korean leader Kim Jong-il's son was appointed to powerful ruling party posts, state media reported Wednesday, solidifying the path for his succession to his father, Yonhap news reported.

A South Korean watches a television report about Kim Jong Il's youngest son, Kim Jong-un, atSeoul Station in Seoul, South Korea, on Tuesday. (Bloomberg)

Kim names Peter Oppegard as new coach

 South Korea's figure skating star Kim Yu-na named American Olympic bronze medalist Peter Oppegard as her new coach, her agent AT Sport said here Wednesday in a statement, Yonhap News reported

  The 20-year-old Olympic gold medalist has been training in Los Angeles since she left Toronto, where she and former Canadian coach Brian Orser had worked together for the past three years.

Kim Yu-na with American Olympic bronze medalist Peter Oppegard (Yonhap)

Koreans in kimchi crunch

Soaring cabbage prices are deepening concerns among households ahead of the upcoming kimchi-making season and putting the essential side dish off tables in many restaurants. 

After two months of unusually heavy rain caused an unprecedented shortage of fresh vegetables, the price of napa cabbage hovers around 10 thousand won ($9) per head, nearing a four-fold increase from mid-August. 

Other essential ingredients of Korea’s staple food are caught in the inflationaryspiral including radish and garlic, both of which have doubled in value over the past year. 

Kimchi makers have already increased the prices of their products. Some restaurants have started charging for kimchi, a side dish served with almost every Korean meal for free all year around. Facing the end of fall when families make kimchi for the winter, or “kimjang” season, the vegetable crunch is expected to hit the nation right in the money belt.

“I’m not sure if I should start to charge kimchi or exclude it from the side dishes. I have never experienced such shortage (of cabbage) in my ten years as a chef running this restaurant,” a owner of a Korean restaurant in Gwacheon said.

ASEM leaders urge N. K. to abandon nukes, halt military provocation

Asian and European leaders called Tuesday for North Korea to dismantle its nuclear program in a complete, verifiable and irreversible manner and expressed deep concern over the March 26 sinking of a South Korean warship, an attack that Seoul blames on its communist neighbor, Yonhap News reported.