Labor Ministry to focus on jobs

Aimed at strengthening its job creating role, the Labor Ministry on Monday changed its name to “Ministry of Employment and Labor.”

The change of the ministry‘s name came 29 years after the labor office was elevated to a government department. 

“Creating more jobs, helping people who want to work and ensuring they get paid properly are the main purposes and values that we have to seek,” Minister Yim Tae-hee said during a relaunching ceremony held at the Gwacheon Government Complex in Gyeonggi Province. 

He pledged, in particular, to support senior citizens to continue social activities, saying “People’s lifecycle has been changed due to a falling birthrate and an aging society. Those who used to be said of being old should not be considered senior citizens any more.” 

Samsung, LG, Hyundai team up for flexible display: report

Samsung, LG, and Hyundai Motor Group will team up to develop flexible display material, the Maeil Business Newspaper reported, citing officials from the Ministry of Knowledge Economy and related industries. 

The global flexible display market is expected to reach 17 trillion won ($14 billion) by 2018, according to the Korean-language report.

(Bloomberg)

LG Display Co. employees look at liquid-crystal display (LED) monitors at the venue where the company held a news conference announcing third quarter results in Seoul in January, 2010. (Bloomberg)

LG faces critical test with Optimus series

LG Electronics on Monday announced the launch of its flagship Android smartphone Optimus One with Google via 120 carriers worldwide in the third quarter. 

LG's first global smartphone will be a make-or-break test for its mobile division president, Ahn Seung-kwon, who is struggling to rejuvenate the ailing smartphone business. 

 

Ahn Seung-kwon

Ahn gained fame for leading the development of LG’s hit feature phone Chocolate in 2006, as then head of LG’s mobile research center. Propelled by the huge success of the Chocolate, he grabbed the top position at LG’s mobile division in 2007, and since nurtured LG’s mobile business as a major cash cow.

However, his successful career has been tarnished by his failure to predict and prepare for the fast growth of the smartphone market.

LG’s handset division is expected to swing to a loss in the second quarter, hit by its weak smartphone line-up. 

The company is determined to revive its smartphone fortunes with the rollout of the Optimus One, which runs Google’s Android 2.2 operating system, LG did not disclose other details, but said the new model will be competitively-priced. The phone will be available via 120 carriers while Samsung Electronics’ smartphone Galaxy S is currently sold via 100 operators.

Korea, New Zealand seek to expand ties

South Korea and New Zealand on Monday agreed to further expand their bilateral relationship and step up regional cooperation on security and economic issues. 

During their meeting, President Lee Myung-bak and New Zealand Prime Minister John Key discussed how they would pursue a free trade agreement that would help further enhance bilateral trade.

“They reaffirmed their expectation to conclude the Korea-New Zealand FTA as early as possible. Both recognized the mutual benefits in working closely together toward enhanced trade and economic links and the opportunities existing for new trade in both directions,” the presidential office of Cheong Wa Dae said.

In particular, the leaders sought ways to increase exchange in the areas of information technology and communications, in addition to energy and natural resources. 

New Zealand Prime Minister John Key delivers a speech with business leaders in Seoul on Monday. Yonhap News

N.K. economy to shrink on trade sanction

The North Korean economy is to record further negative growth this year on trade suspension by the South following the North’s sinking of a warship, a report said Tuesday. 

A report by the state-run Korea Development Institute said although the suspension of inter-Korean trade is expected to cost North Korea about $280 million annually, its economy won’t shrink to the crisis level had in the 1990s. 

“Our outlook is based on a forecast that its external trade will likely post a setback,” it said without estimating a figure. 

North Korea’s economy contracted 0.9 percent last year on poor harvests and strengthened international sanctions targeting its nuclear program. 

Shinsegae vice chairman’s tweet twits Samsung Electronics

Shinsegae Group’s vice chairman is once again in the news for posting comments about domestic brand smartphones on his Twitter account. 

Chung Yong-jin, Samsung Electronics’ chairman Lee Kun-hee’s nephew, posted comments on Twitter describing difficulties in receiving a signal on his Galaxy S, Samsung Electronic's latestest smartphone in the United States. 
In an April Tweet, criticized local electronics makers for being interested in only the number of devices they sell, rather than in developing a solution to compete with the iPhone.

Chung’s new smartphone-related Twitter entry, entered on Monday, read that his Galaxy S had failed to receive a roaming signal for six hours. Chung’s entry prompted a series of responses from his more than 24,000 followers suggesting possible solutions to his problem.

Police get tough on child sex crimes

The police have declared all-out war on sex criminals who victimize children.

In a meeting of high-ranking police officials on Monday, National Police Agency Commissioner General Kang Hee-rak vowed to take advantag all possible measures to eradicate sex offenses against children.

The meeting lasted for an unprecedented six hours, reflecting the sense of urgency within the police organization.

“The prevention of sexual child abuse should be the top priority for all police officials,” said Kang.

Among the reinforced preventive measures is a sex crime mapping system, showing the date and place of all sex offenses since 2004, together with the personal information of the offenders, said officials.