Site crashes as iPhone fans make 130,000 pre-orders

KT Corp., the exclusive provider of the iPhone in Korea, said Wednesday that the number of people who made pre-orders for Apple’s iPhone 4 surpassed 130,000 in the first 13 hours of registration.

The number of people applying for the new model sharply increased from 40,000 as of 8:55 a.m. to over 60,000 as of 9:45 a.m., KT officials said. It then reached 100,000 people as of 1 p.m., and 130,000 as of 7 p.m. 　

The country’s No. 2 mobile carrier started taking in applications at its website and its 2,900 shops nationwide beginning at 6 a.m.

The exact date of launch, which is only known as sometime in September, has yet to be specified.

“We will make utmost efforts for the launch and delivery of the new model,” Pyo Hyun-myung, president of the mobile business group at KT, said on his micro-blogging site Twitter.

1st Yeo Woo Rak Festival opening at the National Theater of Korea!

Yeo Woo Rak stands for “여기 우리 음악이 있다,” meaning “Here is Our [Korean] Music!’ The festival features music played on traditional Korean musical instruments and will be held from Sep. 2nd (Thu) to 11th (Sat) 2010 at the KB Haneul Youth Theater, one of the branches of the National Theater.

Festivities kick off with ‘Gongmyoung’ a renowned Korean band, who will present a lively recreation of traditional Korean music using a variety of bamboo, wind, and percussion instruments such as the Janggu (traditional drum). ‘NoreumMachi’ will also take the stage, performing ‘Samulnori’ with Jing, Janggu and Kawaenggwari, introducing the audience to a new type of Korean traditional music.

Other presenters include the Janggu ensemble ‘Sonagi Project’ and the group ‘Dulsori,’ who will present ‘World Beat Binari,’ a performance that is continually gaining acclaim for its catchy beats and tunes. 

Key phrases for the G20 Summit revealed

The key phrases for the G20 Financial Summit meeting have been disclosed. The Presidential Committee for the G20 Seoul Summit explained that the new phrase “Shared Growth Beyond Crisis” reflects the main theme of the G20 Summit, which aims to establish a framework for strong, sustainable balanced growth worldwide.

The agenda for the G20 Summit was classified into eight categories: ▲ global economy ▲cooperative framework for balanced growth ▲reform of the international financial regulatory system ▲modernization of international financial institutions and the global financial safety net ▲development ▲trade and investment ▲energy and anti-corruption ▲ business summit.

The government has already held a high level working group meeting in Seoul on July 19 and 20, followed by the Sherpa meeting from July 20 to22. The high-level meeting, attended by some 100 representatives from member nations and global institutions, discussed specifying the existing agendas and decided on the future directions for talks.

The Sherpa meeting, which is a closed-door event, was attended by another 100 deputy representatives and aides from member nations and relevant institutions to review the general direction for the G20 agenda. The name of the meeting is derived from the Sherpas of the Himalayas, guides and porters for those who seek to scale the mountains.

The Presidential Committee will continue to hold preparatory meetings related to finance, budget, energy, and development, and seek the advice of other countries to coordinate before the official meeting. 

MB’s arm-twisting makes firms 'modest'

Arguably, ``the world’s first’’ and ``the largest ever’’ would be the two most frequently-used terms in the press releases of Samsung Electronics, the world’s foremost producer of memory chips and flat-panel displays. 

The Suwon-based company may have wanted to use the term once again while releasing its second-quarter performance, which was the best in its history at 37.9 trillion won in sales and 5 trillion won in operating profits. 

For some reason, however, the country’s No. 1 corporation did not sell the achievement to journalists as it did not produce the facts in a press release, which was presented late last month. 

Robert Yi, Vice President and head of the firm’s investor relations team, also kept a low-key attitude while talking to the media. 

``With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels,’’ Yi said. 

``However, we will continue to focus on introducing differentiated products and widening our technology leadership in components to meet these difficult market conditions.’’

Things are similar with other flagship companies of Asia’s fourth-largest economy.

Both Hyundai Motor and Kia Motors, the two iconic subsidiaries of the Hyundai-Kia Automotive Group, racked up record-breaking quarterly performances over the April-June period. 

Hyundai Motor marketed approximately 457,000 vehicles over the three month to record 9.6 trillion won in sales and 1.4 trillion won in net income as its models gained popularity. 

Kia Motors chalked up 5.8 trillion won in turnover to net 558 billion won in profits, up by 23.3 percent and 60.7 percent from the corresponding period of last year, respectively, by selling about 350,000 vehicles worldwide. 

'Grandson of Samsung founder commits suicide'

Lee Jae-chan, a grandson of the late Lee Byung-chul, founder of the Samsung Group, was found dead in front of the entrance of an apartment building in Ichon-dong, Yongsan-gu, Seoul, Wednesday morning, police said.

An employee at the management office of an apartment complex there told police that the 46-year-old is presumed to have jumped from a window of the apartment building.

Lee Jae-chan is a son of Lee Chang-hee, the late president of magnetic tape supplier Saehan Media who is the second son of the Samsung founder. Lee Chang-hee died of blood cancer in 1991. 

Police said they suspect he committed suicide by jumping from his apartment. No suicide note has been found yet. 

Lee Jae-chan, former CEO of Saehan Construction, an affiliate of Saehan Group, has not had a job since 2000 when he resigned after a merger, according to reports.

Separated from his family, he lived alone in his apartment for the past five years, the reports said.

4 New Foreign Airlines to Service Incheon

Four new foreign airlines will begin servicing Incheon International Airport within the year.

The Transport Ministry says that state-run Air India resumed servicing the Incheon-Hong Kong-Delhi route on August second and that AirAsia X will also operate flights between Incheon and Kuala Lumpur starting in November. 

The United Arab Emirates' state-run Etihad Airways and Thailand's low-budget Orient Thai Airlines will also operate flights to and from Incheon within the year. 

By 2011, 70 foreign airlines from 50 countries will be servicing Incheon International Airport. Both figures surpass those of Japan's Narita International Airport and Singapore’s Changi International Airport.

Lee Visits UFG Drill Control Room

President Lee Myung-bak visited Wednesday the control room for the ongoing Ulchi Freedom Guardian (UFG) military exercises between South Korea and the United States.

While there, Lee was briefed on the status of the drills, and he held a video conference with military leaders at the site.

Lee stressed that the UFG drills are meant to serve as a deterrent to war and to maintain peace on the Korean Peninsula. He said that South Korea-U.S. cooperation will serve as a stepping stone to those ends.

He asked the military to always be on alert and prepared.

Lee added that military leaders of a divided nation must maintain a different posture than those of nations that are not. 

He called on the leaders of the military and of society to do their utmost to put the public at ease.