Watchdog urges banks to extend more loans to smaller firms

SEOUL, Dec. 22 (Yonhap) -- The chief of South Korea's financial watchdog on Monday urged local banks to increase efforts to bolster their slumping capital base and to extend more loans to smaller firms suffering from a credit crunch.

"Local banks are worried over falling capital adequacy ratio. The watchdog hopes that lenders seek to meet their targets to bolster their capital," Kim Jong-chang, governor of the Financial Supervisory Service (FSS), said at meeting with the heads of seven local banks.

"As the government also plans to support their efforts through the bank recapitalization fund, we call for lenders to extend more support to smaller firms."
His remarks came as South Korean lenders are struggling to bolster their falling capital adequacy ratio, a key barometer of financial soundness, as the slowing economy and a credit squeeze are increasing the amount of bad loans.

On Thursday, the government said it will set up a 20 trillion won (US$15.5 billion) fund in January aimed at helping local banks raise the capital base. The fund will be used to buy preferred stocks, subordinated bonds and hybrid debt sold by lenders. Local banks can tap the fund on a voluntary basis.

Amid the slowing downturn, local banks and companies have been suffering from cash shortages as higher credit risks discourage banks from lending to each other or to smaller firms and households, tightening a credit squeeze.

According to the central bank, outstanding bank loans to smaller firms reached 404.1 trillion won as of the end of November, up 2.6 trillion won from the previous month.

sooyeon@yna.co.kr
(END)

Rice defends 6-way talks as only way to denuclearize N. Korea

By Hwang Doo-hyong
WASHINGTON, Dec. 21 (Yonhap) -- U.S. Secretary of State Condoleezza Rice said Sunday that six-party talks are the only way to achieve North Korea's denuclearization, citing Pyongyang's common strategy of exploiting division in the international community.

"A lot has been achieved" in the multilateral talks over the past half year, the outgoing secretary said on NBC's "Meet the Press," including the shutdown of the North's main nuclear reactor, presentation of its nuclear list and blowing up of the cooling tower of the North's main nuclear reactor.

"I think more will be achieved, but it's really only going to be achieved in the context of the six parties, because if you don't have China and South Korea and Russia and Japan at the table, too, then the North can play the game that they used to play of getting benefits from other parts of the international community and refusing to carry forward on its obligations," she said.

Rice rebuffed criticism that North Korea had "played" the U.S. in refusing to agree to a verification protocol on its nuclear facilities in the waning weeks of the Bush administration, saying,"Of course we didn't trust them."
"What we are negotiating is a verification protocol because nobody does trust them," she said.

She said that 80 percent of the verification protocol has been agreed upon with the North.

"What the North wouldn't do is go the last 20 percent, which is to clarify some of the elements of scientific procedures that might be used to sample the soil," she said.

She said that what the North Koreans had agreed to is "hings like interviews with scientists, the right to go and ask questions and probe concerning various facilities, the right to look at operations records, to look at production records."
In the latest six-party talks earlier this month, North Korea would not sign an agreement on sampling, saying it will sign later in the third and final phase, the dismantlement, under a multilateral nuclear deal signed by the six parties.

The North's refusal came amid concerns that Pyongyang is awaiting the inauguration of the Barack Obama administration in January for a possibly better deal.




Prosecutors to announce interim report on corruption probe into former president's brother

SEOUL, Dec. 21 (Yonhap) -- Prosecutors said Sunday they will announce next week an interim report on the suspected corruption case involving former President Roh Moo-hyun's brother.

The report on the 34-day investigation will be revealed to the public on Monday, said an official at the Central Investigation Division at the Prosecutor-General's Office.

Roh's older brother, Roh Gun-pyeong, was arrested earlier this month on bribery allegations.

He was suspected of acting as a middleman, helping Park Yeon-cha, chief of shoe manufacturer and Nike outsourcing firm Taekwang Industry Co., acquire an affiliate of the state-run conglomerate National Agricultural Cooperative Federation, or Nonghyup, at a bargain price between 2005 and 2006.

Park, a key financial supporter of former president Roh Moo-hyun, was also arrested, following the arrest of Roh's brother.

Prosecutors allege that Park has evaded 29 billion won (US$21 million) in capital gains taxes, pocketing 20 billion won in profits from the troubled brokerage house, Sejong Securities Co., to its takeover announcement and handing over 2 billion won in bribes to the Nonghyup's chief at that time, Chung Dae-kun.

The probe has been a sharp blow to former President Roh, who while in office prided himself on eliminating bribery and sought to distance himself from his predecessors, whose names were tarnished by scandals involving relatives.

Liberals argue the incumbent Lee Myung-bak government may be seeking to score political points against the ex-president, who still hurls acerbic criticism at Lee's free market policies and hard-line position on North Korea.

Roh retired to his rural hometown of Bonghwa in South Gyeongsang Province in February.




S. Korea's unification minister to meet Chinese officials amid nuclear stalemate

Beijing, Dec. 21 (Yonhap) -- South Korea's unification minister arrived in Bejing Sunday on a four-day trip to meet with senior Beijing officials amid a stalemate in international talks aimed at dismantling North Korea's nuclear programs
Kim Ha-joong, who served as Seoul's envoy to Beijing for six years and five months before taking the Cabinet post in March, was expected to exchange views with several Chinese cabinet ministers.

Kim plans to meet with Dai Bingguo, China's state councilor, Wang Jiarui, head of the Chinese Communist Party's international liaison department, and Foreign Minister Yang Jiechi, the ministry officials said earlier this week. Kim was also to meet Wu Dawei, Chinese vice foreign minister and chief envoy on North Korea denuclearization talks, who is also a close personal acquaintance.

The latest six-party talks on North Korea's nuclear program, involving the two Koreas, the U.S., China, Japan and Russia, ended without progress last week amid a dispute on verification of Pyongyang's nuclear dismantlement.

Inter-Korean relations are also frozen, with a senior North Korean military official, Kim Yong-chol, issuing a fresh warning this week that his government will continue sanctions on South Korean companies operating in its border town of Kaesong should Seoul maintain its hardline policy toward Pyongyang. The North expelled hundreds of South Koreans in the Kaesong industrial complex, curtailed border traffic and suspended tours to its mountain resort by South Koreans as of Dec. 1 after months of strained relations.

South Korean President Lee Myung-bak has adopted a tougher policy toward the North than his liberal predecessors, demanding concrete denuclearization by Pyongyang and more reciprocity in return for Seoul's aid.

ygkim@yna.co.kr




Four Asian paper exporters fined for price manipulation

SEOUL, Dec. 21 (Yonhap) -- South Korea's anti-trust watchdog said Sunday that it has fined four Asian paper exporters a combined 4 billion won (US$3.1 million) for their involvement in price rigging.

APP of Indonesia, APRIL of Singapore, AA of Thailand and UPM of China colluded in setting prices for copying paper exported to South Korea for three years since February 2001, the Fair Trade Commission said in a statement.

Through the price manipulation, the four companies boosted their shares in South Korea's copying paper market from a combined 26.8 percent in 2002 to 56.5 percent at the end of 2004, the watchdog said.




Lotte close to buying Doosan's liquor unit: sources

SEOUL, Dec. 21 (Yonhap) -- Doosan Corp., the flagship unit of South Korea's Doosan Group, has picked Lotte Group as a preferred bidder for its liquor unit, industry sources said Sunday.

Lotte has reportedly beaten out seven other foreign private equity funds bidding for Doosan's liquor unit, which ranks as the nation's No. 2 maker of soju, or Korean distilled liquor, with a 13-percent share in the market. Its sales amounted to 341.9 billion won (US$265 million) last year with an operating profit of 21.4 billion won.

"We have heard that Doosan has picked Lotte Group as a preferred bidder," a source told Yonhap News Agency on condition of anonymity. "Lotte seemed to have offered lower bidding prices for the business than its rivals but was picked as a proffered negotiator as it received better scores in other categories."
Lotte reportedly proposed between 500 billion won and 600 billion won to purchase the Doosan unit. Doosan declined to comment, saying that the final decision will be announced on Monday. A Lotte Group spokesperson said he has not been notified by Doosan regarding the decision.

The envisioned sale comes after Doosan sold its packaging unit, Doosan Techpack BG, to private equity fund MBK Partners for 400 billion won last month to shore up its balance sheet.

Doosan's business portfolio ranges from liquor and electronics to publishing and apparel.



Seoul shares open higher on tech, auto gains

SEOUL, Dec. 22 (Yonhap) -- South Korean stocks started higher Monday as investors, heartened by a U.S. auto aid package, picked up tech blue chips and automakers, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.52 points, or 1.14 percent, to 1,194.49 in the first 15 minutes of trading.

U.S. stocks closed mixed Friday even as the government decided to offer US$17.4 billion in emergency loans to two teetering carmakers -- General Motors and Chrysler LLC. The Dow Jones industrial average shed 0.3 percent while the tech-dominated Nasdaq composite index added 0.77 percent.

The local currency was trading at 1,291 to the U.S. dollar as of 9:15 a.m., down 1 won from Friday's close.





Ruling party proposes dialogue with opposition parties over FTA bill

SEOUL, Dec. 21 (Yonhap) -- The chief of the ruling Grand National Party (GNP), Park Hee-tae, on Sunday offered to open dialogue with opposition parties over a long list of disputed bills, including one on the Korea-U.S. free trade agreement (KORUS FTA) which passed South Korea's parliamentary subcommittee amid violent scenes last week.

Park told a news conference that his party will seek to resolve pending political confrontation over the KORUS FTA and other controversial bills by Thursday through dialogue with opposition parties.

"The GNP will do its utmost by Thursday to hold dialogue with the opposition parties through various channels," Park said.

"We hope the ruling and opposition parties will be able to reach a compromise through dialogue."
Dialogue between the GNP and the main opposition Democratic Party (DP) has been suspended after the ruling party unilaterally approved the government's 2009 budget bill and submitted the KORUS FTA bill over the past two weeks.

On Thursday, the National Assembly's foreign affairs subcommittee unilaterally decided to submit the KORUS FTA bill to a judiciary subcommittee for legal deliberation in a session violently opposed by the opposition parties.

In a related move, a group of seven DP lawmakers filed a petition with the Constitutional Court on Sunday seeking to nullify the GNP's unilateral move to ratify the KORUS FTA bill.

"The opposition parties should now return to the dialogue table. That's what the people want and fits into parliamentary democracy," said Park of the GNP.

"This will be the last chance for dialogue," he said.




Prosecutors to announce interim report on corruption probe into former president's brother

SEOUL, Dec. 21 (Yonhap) -- Prosecutors said Sunday they will announce next week an interim report on the suspected corruption case involving former President Roh Moo-hyun's brother.

The report on the 34-day investigation will be revealed to the public on Monday, said an official at the Central Investigation Division at the Prosecutor-General's Office.

Roh's older brother, Roh Gun-pyeong, was arrested earlier this month on bribery allegations.

He was suspected of acting as a middleman, helping Park Yeon-cha, chief of shoe manufacturer and Nike outsourcing firm Taekwang Industry Co., acquire an affiliate of the state-run conglomerate National Agricultural Cooperative Federation, or Nonghyup, at a bargain price between 2005 and 2006.

Park, a key financial supporter of former president Roh Moo-hyun, was also arrested, following the arrest of Roh's brother.

Prosecutors allege that Park has evaded 29 billion won (US$21 million) in capital gains taxes, pocketing 20 billion won in profits from the troubled brokerage house, Sejong Securities Co., to its takeover announcement and handing over 2 billion won in bribes to the Nonghyup's chief at that time, Chung Dae-kun.

The probe has been a sharp blow to former President Roh, who while in office prided himself on eliminating bribery and sought to distance himself from his predecessors, whose names were tarnished by scandals involving relatives.

Liberals argue the incumbent Lee Myung-bak government may be seeking to score political points against the ex-president, who still hurls acerbic criticism at Lee's free market policies and hard-line position on North Korea.

Roh retired to his rural hometown of Bonghwa in South Gyeongsang Province in February.




Heavy snow to hit S. Korea's northeastern region

SEOUL, Dec. 21 (Yonhap) -- Heavy snow was expected to hit the northeastern region in South Korea starting late Sunday, weather officials said.

The Gangwon Province is under a heavy snow warning with 5 to 15 centimeters of snow expected between Sunday and late Monday, according to the Korea Meteorological Administration (KMA).

Up to 8 centimeters of snow will fall in the country's southernmost resort Jeju Island. Seoul and the metropolitan area are expected to have around 1 centimter of snow, the weather agency said.

Seoul will register a morning low of minus 9 C, while Daejeon, a city 164 kilometers south of Seoul, will drop to minus 6 C.

Most of the nation will see sub-zero cold with a high wind chill factor, the officials said.
The cold snap is expected to last until Tuesday afternoon.




Rice defends 6-way talks as only way to denuclearize N. Korea

By Hwang Doo-hyong
WASHINGTON, Dec. 21 (Yonhap) -- U.S. Secretary of State Condoleezza Rice said Sunday that six-party talks are the only way to achieve North Korea's denuclearization, citing Pyongyang's common strategy of exploiting division in the international community.

"A lot has been achieved" in the multilateral talks over the past half year, the outgoing secretary said on NBC's "Meet the Press," including the shutdown of the North's main nuclear reactor, presentation of its nuclear list and blowing up of the cooling tower of the North's main nuclear reactor.

"I think more will be achieved, but it's really only going to be achieved in the context of the six parties, because if you don't have China and South Korea and Russia and Japan at the table, too, then the North can play the game that they used to play of getting benefits from other parts of the international community and refusing to carry forward on its obligations," she said.

Rice rebuffed criticism that North Korea had "played" the U.S. in refusing to agree to a verification protocol on its nuclear facilities in the waning weeks of the Bush administration, saying,"Of course we didn't trust them."
"What we are negotiating is a verification protocol because nobody does trust them," she said.

She said that 80 percent of the verification protocol has been agreed upon with the North.

"What the North wouldn't do is go the last 20 percent, which is to clarify some of the elements of scientific procedures that might be used to sample the soil," she said.

She said that what the North Koreans had agreed to is "hings like interviews with scientists, the right to go and ask questions and probe concerning various facilities, the right to look at operations records, to look at production records."
In the latest six-party talks earlier this month, North Korea would not sign an agreement on sampling, saying it will sign later in the third and final phase, the dismantlement, under a multilateral nuclear deal signed by the six parties.

The North's refusal came amid concerns that Pyongyang is awaiting the inauguration of the Barack Obama administration in January for a possibly better deal.




69 Public Companies to Cut Staff

2008-12-21 13:46:19

Nearly 70 state-run companies not subject to privatization or shutdown will reduce staff over the next three to four years.

The Strategy and Finance Ministry said Sunday that it will cut staff at 69 public companies by 13 percent, or some 19-thousand people.

About 51-hundred employees at Korea Railroad and 24-hundred at the Korea Electric Power Corp. are expected to lose their jobs.

Two hundred workers at Korea Railroad Retail and two-hundred-20 at the Korea Tourism Organization are also expected to be laid off.

Other public companies plan to downsize ten to 30 percent of their staff.

The ministry said each public company should meet the downsizing targets based on retirement, voluntary resignation and new recruitment.





Returns on Stock Funds Grew 2 Weeks Straight

2008-12-20 14:20:22

The return rates on domestic equity-type investment funds have grown two weeks straight.

According to Zeroin, a fund performance appraiser, the domestic equity-type funds showed an average weekly return rate of over one percent.

In particular, smaller companies' funds posted a weekly return rate of four-point-four percent, and equity yield types posted over one-and-a-half percent.

Meanwhile, overseas stock-type funds recorded a weekly return rate of seven-tenths of a percentage point.

In particular, funds on raw materials and basic materials performed well with a return rate of four percent. The India fund posted two-point-six percent and the Brazil fund over one-and-a-half percent.





Korean, EU Trade Ministers to Meet in January

2008-12-20 14:11:23

The trade ministers of South Korea and the European Union will meet in January to discuss a bilateral free trade agreement (FTA).

The government said that during the meeting in Vienna last week Korean and European top negotiators agreed to hold the ministers’ talks in Seoul on January 19th and 20th.

A trade ministry official said that the negotiations in Vienna also discussed product lists, non-tariff measures, rules of origin, service market and intellectual property rights.

The official added that the two sides made substantial progress in major issues, including the scope of products.

The nation and the European Union are seeking to reach the trade deal in the ministerial meeting.




Trade Deficit with Japan Exceeds $30 Bln

2008-12-21 14:08:26

The country's trade deficit with Japan has posted a record high of 30 billion U.S. dollars.

The Korea Customs Service said Sunday that the trade deficit with Japan from January to November was 30-point-eight billion dollars, up 12-point-six percent year-on-year.

Korea’s trade deficit with Japan has been rising steadily over the past three years from 25-point-four billion dollars in 2006 to 29-point-nine billion last year.

Korea's trade deficit with Middle Eastern countries has jumped 70 percent to reach a record 71-point-seven billion dollars in the wake of the sharp rise of global oil prices.




Private Investors Suffer W162 Tln in Losses

2008-12-21 14:10:46

Private investors this year have suffered an estimated 162 trillion won in losses in shares and assets in the wake of tumbling stock prices.

Market sources said Sunday that private investors lost 101.6 trillion won after their stocks fell in value and 61 trillion won in losses from private equity funds issued in Korean and abroad.

Among overseas stock funds, funds invested in China saw the biggest loss of 13 trillion won followed by losses in investment in emerging economies.





Gas Prices Slip to 1,200 Won Range

2008-12-21 14:13:01

Gasoline prices have slipped to the 12-hundred won range for the first time in five years.

Korea National Oil Corp. said Sunday that the average retail price of gasoline nationwide Saturday was one-thousand-298-point-15 won per liter, or down two-point-96 won from Friday.

The last time prices fell below the 12-hundred won level was in the first week of December 2003.

By region, North Jeolla Province saw the sharpest price drop while Seoul’s remained the highest in the nation.





6-Region Industrial Development Plan Set

2008-12-21 14:23:18

The government has finalized a plan on developing key industries in six regions excluding areas in the two Jeolla provinces.

The Knowledge Economy Ministry announced Sunday that the capital area will focus on developing a knowledge and information-based industry, while the Chungcheong provinces will develop medical and bio industries as well as new information technology sectors.

Daegu and South Gyeongsang Province will develop IT convergence and green energy energies. Gangwon Province will focus on transportation machinery and convergence device parts.

Jeju Island will develop the water and tourism sectors.

The government will inject 900 billion won into the regions through 2011.



Individuals with less than 50 million won in loans overdue for six months or more from at least two lenders are eligible to refinance their debt at the bad bank, which will lower the interest rates and even principals to help the defaulters.
The Korea Asset Management Corporation would take over debt owed by some 155,000 people who receive a substantial government subsidy for living expenses and defer their debt repayment up to ten years.

The state-run export credit insurance agency recently announced that it approved to support a loan worth $50 million to a buyer, or foreign importer who purchases goods and services from a Korean company, with a repayment term of 180 days or less.

Possible benefits will include payment rescheduling, debt-for-equity swaps and fresh loans.
Mortgage loans traditionally consume more time to settle than other credit lendings, which markets some of them temporarily labeled doubtful, said Han.

Hanjin Heavy wins 219 bln won deal for patrol ships

SEOUL, Dec. 22 (Yonhap) -- Hanjin Heavy Industries and Construction Co., South Korea's fifth-largest shipyard, said Monday that it has won a 219 billion won (US$171 million) deal to build nine patrol ships.

The deal with South Korea's Public Procurement Service calls on Hajin Heavy Industries to deliver the vessels by April 19, 2012, the company said in a regulatory filing.

Shares of Hanjin Heavy were trading at 29,200 won on the Seoul bourse as of 10:10 a.m., up 4.29 percent.




Hanwha Chemical begins mass carbon nanotube production

By Nam Kwang-sik
SEOUL, Dec. 22 (Yonhap) -- South Korean chemicals maker Hanwha Chemical Corp. said Monday that it has started mass production of carbon nanotubes used in such fields as nano technology, electronics, optics and other materials science.

Hanwha Chemical said in a statement that its plant in Incheon, a city 40 kilometers west of Seoul, has the annual capacity to produce 100kg of single-walled carbon nanotubes and 4 tons of multi-walled carbon nanotubes.

Hanwha Chemical has a plan to invest 100 billion won (US$77.8 million) in the carbon nanotube sector by 2013 with the aim of posting more than 250 billion won in sales of carbon nanotubes in 2015, it said.

In May, Hanwha Chemical took over Iljin Nanotech Co., a South Korean carbon nanotube producer, which was renamed Hanwha Nanotech Corp.



GM Daewoo closes all plants in S. Korea

SEOUL, Dec. 22 (Yonhap) -- The South Korean unit of troubled U.S. auto giant General Motors Corp. shut down all of its three plants here in response to a sharp drop in vehicle demand worldwide, company officials said Monday.

Production at GM Daewoo Auto & Technology, the third-largest carmaker in South Korea, will cease until Jan. 4, officials said, hinting the company may extend the shutdown at some of its production lines early next year.

It was the first such shutdown since Detroit-based GM took over Daewoo Motor Co. in 2002.

Since early November, GM Daewoo has cut work hours and suspended some production lines to save costs.

Last week, the U.S. administration offered US$17.4 billion in rescue loans for GM and Chrysler LLC, averting a much-feared bankruptcy for two of Detroit's Big Three carmakers.

However, analysts says GM and Chrysler is facing many obstacles from now because the bailout requires them to endure painful steps such as huge job cuts and other restructuring plans.

Some local analysts say GM Daewoo may be put up for sale if GM files for bankruptcy.

Last month, GM Daewoo saw its vehicle sales plunge 28.8 percent from a year earlier to 62,256 vehicles.

In the first 11 months of this year, GM Daewoo's sales declined 3.2 percent to 841,521 units.




Seoul shares up 1.35 pct in late morning

SEOUL, Dec. 22 (Yonhap) -- South Korean stocks traded 1.35 percent higher late Monday morning as investors, heartened by the government's economic stimulus package, picked up shares of banks and builders, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) surged 15.98 points to 1,196.95 as of 11:20 a.m.

"The Seoul bourse was testing the 1,200-point mark in the morning session. Expectations for the government's economic stimulus package lifted shares of banks and shipbuilders," said Park Suk-hyun, an analyst at Eugene Investment & Securities Co. "Tech shares also gained ground on hopes that the sector may hit the bottom."
Hopes of a year-end rally boosted the KOSPI above the 1,200-point mark at one point. It was the first time in more than one month that the key index traded above that level.

The local currency was trading at 1,290.25 won to the U.S. dollar as of 11:20 a.m., down 0.25 won from Friday's close.




South Korea plans to cut jobs at state-run companies and sell idle assets, the finance ministry said on Sunday, as the country is on track to posting a fiscal deficit representing 2.4 percent of its gross domestic product next year. The finance ministry said in a statement that 69 state-run companies, such as power monopoly Korea Electric Power Corp would slash some 19,000 em


Gov't to front-load 2009 infrastructure budget in H1

SEOUL, Dec. 22 (Yonhap) -- The government said Monday that it will front-load more than 60 percent of its 2009 infrastructure budget in the first half as part of efforts to stimulate slumping domestic demand and create more jobs.

In a policy report to President Lee Myung-bak, the Ministry of Land, Transport and Maritime Affairs said it plans to spend 65 percent of the 23.4 trillion won (US$18.2 billion) earmarked for 2009 infrastructure projects in the January-June period.

The percentage compares with 47 percent of the infrastructure budget spent during the same period of this year. Next year's total infrastructure budget represents a 24.5 percent increase from that of this year.

The budget front-loading is in line with the government's drive to create jobs in the face of slumping domestic consumption and growing concerns over a global economic slowdown.

The nation's jobless rate stood at 3.1 percent in November with job creation falling to a 5-year low amid a bleak economic outlook.

The ministry said that it will spend 60 percent and 67 percent of its annual budgets to build roads and railways, respectively, during the first half of next year.

For 2009, the ministry's total budget amounts to 25.7 trillion won.


BOK auctions off US$3.35 bln to local banks

SEOUL, Dec. 22 (Yonhap) -- South Korea's central bank said Monday it auctioned off US$3.35 billion to local banks which have been suffering from a dollar liquidity crunch in the wake of the U.S.-sparked global financial turmoil.

The Bank of Korea (BOK) said the money is part of a $30 billion currency swap agreement which it signed with the U.S. Federal Reserve in late October. The BOK has tapped $7 billion from the facility so far.

According to the BOK, nine financial institutions participated in the auction, bidding for a combined $3.35 billion on offer. The loans have an average annual interest rate of 2.36 percent and will mature in 86 days.

The move came as the country's foreign exchange reserves, the world's sixth-largest, have been on the decline mainly due to liquidity injections designed to ease an ongoing credit crunch and financial jitters.

The foreign reserves totaled $200.51 billion as of end-November, marking the eighth straight month of decline. South Korea also reached new currency swap arrangements with China and Japan in late December, expanding its existing swap lines with the two countries to $30 billion each.

sooyeon@yna.co.kr
(END)





Lotte Chilsung picked as prime bidder for Doosan's liquor unit

SEOUL, Dec. 22 (Yonhap) -- Doosan Corp., the flagship unit of South Korea's Doosan Group, said Monday that it has chosen Lotte Chilsung Beverage Co. as a preferred bidder for its liquor unit.

Lotte Chilsung, affiliated with the country's Lotte Group, has reportedly beaten out four other foreign and domestic private equity funds bidding for Doosan's liquor unit.

The liquor unit ranks as the nation's No. 2 maker of soju, or Korean distilled liquor, with a 13-percent share of the market.

Lotte reportedly offered between 500 billion won (US$386 million) and 600 billion won for the Doosan unit. Doosan declined to comment, saying that Lotte will conduct due diligence for three or four weeks early next year.

The envisioned sale comes after Doosan sold its packaging unit, Doosan Techpack BG, to private equity fund MBK Partners for 400 billion won last month to shore up its balance sheet.

Doosan's liquor unit posted sales of 341.9 billion won last year with an operating income of 21.4 billion won.

Doosan's business portfolio ranges from liquor and electronics to publishing and apparel.





(LEAD) Ssangyong Motor to delay payment of Dec. wages amid liquidity crisis

SEOUL, Dec. 22 (Yonhap) -- Ssangyong Motor Co., the South Korean unit of China's Shanghai Automotive Industry Corp. (SAIC), said on Monday it cannot pay its workers' wages for December on time because of a prolonged liquidity crisis.

In a letter to employees, Ssangyong, the smallest automaker in South Korea, said that "payment of salary for December is impossible due to a lack of funds for operations." Ssangyong is expected to post a loss of up to 100 billion won (US$76.9 million) this year, according to the letter.

"The letter doesn't mean that the company won't pay wages at all. It means the payment is postponed," said an official at Ssangyong.

Hit by a continued sales slump at home and overseas, Ssangyong's cash reserves have dwindled. The company's Chief Executive Officer, Choi Hyung-tak, recently admitted that its reserves are fragile, saying it will likely face a "critical period" early next year when a massive amount of debt is set to mature.

In the third-quarter of this year, Ssangyong lost 28.2 billion won (US$21.7 million), marking its fourth consecutive quarterly loss. Last month, the automaker's sales plummeted 63 percent from a year earlier to 3,835 units.

Ssangyong has asked SAIC for months to inject fresh capital to help it ride out the liquidity crisis. Talks between the automaker and its parent over a capital injection are still "in progress," according to the official.

However, the labor union of Ssangyong said negotiations with SAIC for a capital injection collapsed, citing company executives.

"The management told us that a plan for financial support from SAIC was scrapped due to the union's protests against the Chinese parent," the union said in a statement released earlier in the day.
Meanwhile, Ssangyong has idled production from Dec. 17 until the end of the month to reduce inventory. This is the third time this year that the troubled automaker has suspended activity at its sole plant in the port city of Pyeongtaek, about 70 kilometers south of Seoul.

China's state-run SAIC acquired a 51-percent stake in Ssangyong for $500 million in 2004.

Shares of Ssangyong, which have plunged more than 80 percent so far this year, dropped six percent to 1,175 won at one time in early afternoon trading on the Seoul bourse.

(END)




LG Display develops electric-solar LCD panel

SEOUL, Dec. 22 (Yonhap) -- LG Display Co., the world's second-largest maker of liquid crystal displays (LCD), said Monday it has developed an LCD panel that can run on either electricity or solar power.

The company said in a statement that an electricity-powered backlight powers the 14.1-inch LCD for personal computers indoors, while it can run on a solar panel outdoors.

The amount of electricity consumed can be reduced to a quarter of that needed to operate existing LCDs, a company official said.

LG Display said it will unveil the prototype of the newly developed panel at the International Consumer Electronics Show (CES), the world's largest home electronics fair, in January.
ygkim@yna.co.kr
(END)




증권사에 외화표시 장외파생도 허용
기사입력 2001-11-29 14:49 |최종수정2001-11-29 14:49
내년7월부터 증권사들은 원화뿐 아니라 외화표시 장외파생금융상품도 취급할 수 있게 된다.

이에따라 국내기업들이 해외에서 자금을 조달할때 리스크를 줄이는 수단으로 달러표시 장외파생상품도 활용할 수 있게 된다.

김용덕 재경부 국제업무정책관은 28일 "증권사가 원화표시 파생상품은 물론 외화표시 장외파생금융상품도 취급할 수 있도록 외국환거래규정을 개정할 방침"이라고 밝혔다.현재 증권사등이 외화표시 파생금융상품 거래를 하려면 한국은행의 허가를 받아야하는데 허가 규정을 대폭 완화하겠다는 것이다.

다만 외환거래규정상 외화표시 장외파생상품도 원화표시 장외파생상품처럼 초기에는 자본금 500억원이상인 종합증권사등 일정규모 이상 증권사에만 허용하는 방안을 검토중이다.

이와관련 실무당국자는 "외환거래법상 장외파생상품 취급이 허용되면 증권사들은 지수선물 파생상품등을 만들어 해외 투자자에게 외화표시 증권으로 판매하거나 국내기업들이 해외에서 자금을 조달할 때 헤지수단으로 달러표시 선물상품을 활용할 수 있다"며 "증권사들의 상품경쟁력이 한층 높아질 것으로 기대된다"고 말했다.

한편 재경부는 최근 증권거래법 시행령을 개정해 내년 7월부터 일정규모이상 증권사에 금융기관이나 상장•코스닥 등록기업을 고객으로 해 주식,채권,금리등을 대상으로 선물,지수선물,옵션,스왑등 장외파생상품을 판매할 수 있도록 허용하겠다고 밝힌 바 있다. ⓒMoneyToday 2001

머니투데이 박승윤 기자





Banks Cosmetic in Cutting Lending Rates



By Kim Jae-kyoung
Staff Reporter

The central bank surprised the market Thursday by slashing its key rate by a record one percentage point to a historic low of 3 percent, but borrowers have shown frustration over the lukewarm attitude shown by banks in lowering lending rates.

Since October, the central bank has slashed its rate by a total of 2.25 percentage points, but bank lending rates backed by collateral have fallen by only 72 basis points to 7.64 percent. For loans without collateral, the rate runs as high as 9-10 percent.

Bank of Korea (BOK) Governor Lee Sung-tae criticized the banks for their ``cosmetic'' reductions in lending rates following the series of cuts in the central bank's key rate. He said that deposit and lending rates should go down in proportion to the key rate.

Market rates have not fallen in tandem with the base rate cuts due to a tight liquidity. But the Thursday reduction is expected to push down market rates, including yields on certificate of deposits (CDs), providing more leeway for banks to cut rates. The yield on three-month CD is the benchmark for banks' lending rates.

The market welcomed the record rate cut. Yields on three-year and five-year treasury bills fell by 20 basis points and 8 basis points, respectively, to 4.01 percent and 4.44 percent Thursday.

``We expect a reduction of the CD rate, which has been stuck at 5.44 percent since the BOK cut by 25 basis points,'' ING Group economist Tim Condon told The Korea Times.

``We expect it to fall by 75 basis points to around 4.75 percent in a month. The three-month treasury bill yield was already slashed by 50 basis points and we expect another 50 basis-point cut,'' he added. The three-month CD rate dipped by 69 basis points to 4.75 percent Thursday.

Analysts said that given the rising risks of recession, the central bank will remain in its credit easing mode.

``We welcome the central bank's frontloading of rate cuts. It is a sign that the economy is deteriorating much faster than expected,'' Morgan Stanley Asia chief economist Sharon Lam said.

``We now expect another 200 basis point cut to bring the base rate down to 1 percent before June in 2009,'' she added.

Goldman Sachs Korea economist Kwon Goo-hoon echoed the view, forecasting that the BOK will continue with the proactive easing, with further cuts of 50 basis points by next March.

``We believe the central bank's more active open market operations, including direct purchases of CDs and debentures, are necessary and will also help address liquidity shortages,'' he said.

The Thursday cut, the most aggressive in the central bank' history, came as Asia's fourth largest economy heads downward at an unexpectedly fast pace in line with the deepening liquidity crunch.

The surprise move is aimed at minimizing the economic downturn and easing the liquidity shortage. Easing inflationary pressure provided more room for the aggressive rate cut.

At a meeting with reporters following the monetary policy meeting, BOK Governor Lee highlighted the growing scale of the economic slowdown, saying, ``The economy is careening on the edge of an emergency situation or severe credit contraction.

``We are now in a situation where we have to decide whether to stick to traditional tools or deploy unconventional tools. We are considering offering liquidity to specific financial sectors if they are suffering from cash shortages.''

``Growth will slow sharply for a considerable period of time. Domestic consumption and investment have been contracting, while export growth has turned negative,'' he added.

The top central banker left the door open for further rate cuts in the months to come, saying, ``The possibility (of more rate cuts) is always open.''

The ball is now in local lenders' court. In order for the rate move to affect the economy and make more credit available to struggling firms, banks should play their role as a source of capital for the economy.

However, banks have been contracting their balance sheets in their own self-interest for survival and stopped functioning as a money supplier, which broke the monetary policy transmission mechanism and deepened the liquidity crunch here.

kjk@koreatimes.co.kr




Teachers' Union Office Raided


A member of the Korean Teachers and Education Workers’ Union, who was among teachers dismissed for boycotting a state-administered test, wipes away tears during a rally in front of the education office building, Seoul, Thursday, calling for the authorities to reinstate them.
/ Korea Times
By Kim Rahn
Staff Reporter

Investigators raided the Seoul office of the progressive teachers' union as part of the investigation into allegations that the union provided illegal campaign funds to a candidate for the chief post of Seoul's top education office in July.

The investigation came after a governing Grand National Party member alleged that the Korean Teachers and Education Workers' Union (KTU) claimed that the union provided 1 billion won in campaign funds to Joo Kyung-bok, who was supported by the union but was defeated by conservative candidate Kong Jeong-taek.

The prosecution secured computer files and documents in the raid and said it will summon related officials if necessary.

The KTU is rejecting the allegations.

The raid came just one day after the Seoul Metropolitan Office of Education dismissed seven teachers of the union for encouraging students not to take a state-administered test for primary and secondary schools in October. In their boycott, the teachers, supported by some parents, took their students on a field trip on the date of the test.

The KTU strongly denounced the punishment. Three members will not be able to hold a public servant's position for the next five years and will have their retirement grants cut. The other four will be banned from working as public servants for the next three years without the grant cut.

On Oct. 14, the government held the nationwide test, designed to evaluate students' scholastic ability, for sixth graders in elementary school, middle school seniors and high school freshmen. The government plans to disclose the average test score of each school on the Internet starting 2010.

The KTU claimed the test would consequently rank schools and ignite competition among students. A total of 188 students did not take the exam.

The educational office said the teachers failed in that ``public employees should obey seniors' orders when on duty.''

Another teacher of a private middle school will be punished by the school foundation.

It is the first time that so many teachers have been dismissed at a time, and the KTU strongly denounced the dismissal. It will ask the Appeal Commission for Teachers to review the decision and file an administrative suit.

``We don't understand why the authorities dismissed teachers who held field trips with parental consent. We consider the measure politically motivated,'' a KTU director said.

The teachers' union and the Seoul educational office conflicted since early this year over issues including the establishment of international middle schools, the nullification of a collective bargaining agreement between the two sides and the revision of ``left-leaning'' modern history textbooks.

The union staged a rally in front of the educational office Thursday and said that it would launch a stronger protest against another nationwide exam scheduled for Dec. 23 for first and second grade middle school students.




성공의 역사를 실패라고 저주하는 역사 교과서 바로 잡는다
"친북•반제국주의 사관에 근거한 서술로 사회분열 조장"









교육과학기술부가 고교 한국 근•현대사 교과서 6종의 내용 중에서 206곳을 수정 보완키로 최종 결정했다.

교과부는 지난 17일 금성출판사 등 6개 출판사가 정부의 수정 권고를 받아들여 편찬한 한국 근•현대사 교과서안을 최종 승인했다.

이들 교과서안은 내년 3월 봄학기부터 일선 학교에서 사용된다.

이로써 2002년 6개 교과서가 정부의 검인정을 통과한 후 꾸준히 제기돼 오던 좌편향 논란은 일단 마무리될 것으로 보인다.

물론 일부 교과서의 저자들은 자신의 의사와 관계없이 출판사들이 임의로 내용을 수정했다면서 출판사 측을 상대로 법원에 저작권 침해 금지 가처분신청을 내며 반발하고 있다.

하지만 국사편찬위원회가 이미 논란이 되고 있는 부분에 대해 구체적인 서술 기준을 제시하며 내용을 수정하라는 방침을 전달했기 때문에 교과서 내용이 다시 번복될 가능성은 없어 보인다.

⊙ 역사교과서 무엇이 잘못됐나

한국 근•현대사 교과서가 좌편향 논란을 빚은 것은 한마디로 대한민국을 실패한 역사로 규정하며 정통성을 부정하는 쪽으로 서술하고 있기 때문이다.

우리 헌법은 자유 민주주의와 시장경제 체제를 국가 이념으로 삼고 있다.

자유 시장 인권 재산권 등의 가치를 존중하며 공산 사회주의 계획경제 전체주의를 부정한다.

따라서 자라나는 학생들이 배우는 교과서는 최소한 이러한 가치를 존중하면서 서술돼야 한다.

만일 그렇지 않으면 한 국가의 국민이 가져야 할 공동의 가치가 없어져 국가체제를 유지하기 힘들어지게 된다.

그런데 이번에 문제가 된 교과서들은 국가 정통성을 부정하는 내용을 담고 있다.

가장 많은 73곳을 수정한 금성출판사의 교과서는 민주 시장 경제체제의 초석을 다진 대한민국 정부의 건립을 부정적으로 보고 있다.

금성교과서는 국가 정통성에 역행하는 반제국주의 시각을 취했다.

'연합군 승리의 결과로 광복이 이뤄진 것은 우리 민족 스스로 원하는 방향으로 새로운 국가를 건설하는 데 장애가 됐다' '남한에서 정부가 세워진다면 북한 정부의 수립으로 이어질 것이 확실했다. 남북은 분단의 길로 치닫게 됐다'는 표현은 모두 반제국주의 역사관에서 서술된 것이다.

해방을 맞게 된 것을 통일 한국의 장애로 연결시키는 것은 미국을 제국주의로 여기는 역사관이 아니면 설명하기 힘들다.

박효종 서울대 교수는 이에 대해 "민족 민중의 반제국주의 투쟁을 통한 제3세계 혁명이 해방 이후 한국 민족의 나아갈 길이라고 필자들은 생각하고 있다. 그래서 자유민주주의 이념을 가진 연합국, 특히 미국에 의한 해방을 우리 민족의 새로운 국가 건설에 장애라고 표현한 것"이라고 설명한다.

'일장기 대신 올라간 것은 태극기가 아니었다. 일장기가 걸려 있던 그 자리에 펄럭이는 것은 이제 성조기였다. 광복을 공식적으로 확인하는 역사적 순간은 자주 독립을 위한 시련의 출발점이기도 했다'는 표현도 마찬가지이다.

미국 역시 일제와 마찬가지로 제국주의 국가임을 강하게 암시하고 있는 부분이다.

'남한에서 정부가 먼저 세워졌기 때문에 분단이 됐다'서술은 역사적 사실에도 부합하지 않는다.

최근 밝혀진 러시아의 비밀 문서에 의하면 소련과 북한의 김일성은 남한에 단독 정부가 세워지기 전에 이미 북한에 사회주의 정부 건립 준비를 마친 것으로 밝혀지고 있다.

새로 수정된 역사교과서는 반제국주의 사관에 의해 한국의 근현대사를 서술함으로써 대한민국의 역사를 실패한 역사로 폄훼한 오류를 바로잡은 것이다.

⊙ 검인정 제도에 문제 있어

이번 교과부의 근•현대사 교과서 수정에 대해 금성교과서 저자들은 반발하고 있다.

서울대 김태웅 교수 등 금성출판사 교과서 저자들은 자신들의 동의 없이 교과서를 수정하지 못하게 해 달라며 출판사를 상대로 저작권 침해 금지 가처분 신청을 제기해 놓은 상태이다.

저자들은 정부가 학문의 자유와 저작권을 침해했다고 주장하고 있으나 학술 세미나가 아닌 중•고등학교 교과서에서 학문의 자유를 주장할 수 있는지 의문이다.

미국을 제국주의로 간주하며 반대하는 반제국주의는 이슬람권의 일부 국가에서 통용되고 있을 뿐 보편적으로 받아들여지고 있는 이념이 아니다.

반제국주의 종속이론 반외세 민족주의 등을 주창한 국가들은 2차 세계대전 이후 IMF(국제통화기금) IBRD(세계은행) 등 국제기구를 중심으로 한 세계화 시대에 모두 후진국으로 전락했거나 후진국에서 벗어나지 못했다.

잘못된 사관에 바탕을 둔 역사교과서가 정부 검인정을 통과한 것은 제도의 허점 때문으로 보인다.

다양한 역사관을 보여준다는 명분으로 2002년 역사 교과서에 검인정 제도가 도입 되고 6종의 역사 교과서들이 심사를 받을 당시 금성출판사의 교과서는 거의 최하등급을 받았다.

두영택 남성중학교 교사의 '교과서 논쟁의 실상과 계기수업의 편향성'에 의하면 당시 금성교과서에 대해 내용 오류나 편향적 표현 여부를 심사했던 10명의 검정위원 중 7명은 최저등급인 C를, 3명은 B를 부여했다.

금성출판사의 교과서는 그후 전국 고교의 6.6%가 채택해 100만부 이상 팔렸는데 이는 일부 좌파 전교조 교사의 영향력 때문이라는 것이 공공연한 사실이다.

이명희 공주대 교수는 미국 독일 등에서는 교과서에 헌법 기본 정신을 반영토록 해 국민통합의 효과를 얻고 있다면서 우리의 허술한 교과서 검정 기준을 개선해야 한다고 밝혔다.

박주병 한국경제신문 연구위원 jbpark@hankyung.com






이명박 정부 들어 교육계가 다른 어떤 분야보다도 보수와 진보로 나뉘어 맞서고 있습니다. 한국근현대사 교과서 내용 수정에 이어 전교조 교사 해임, 파면, 또 1급 공무원 사표제출이 잇따르면서 교육계 내 갈등은 더욱 커지고 있습니다.

오늘 뉴스초점, 국회 교육과학기술위원회 민주당 간사인 한민석 의원과 함께 이 부분에 대한 의견 들어보도록 하겠습니다. 안녕하십니까？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

안녕하십니까？

◀ＡＮＣ▶

일제고사 대신 체험학습을 실시한 전교조 교사 ７명에 대해서 해임, 파면조치가 내려졌지 않습니까? 어젯밤 촛불집회가 서울시내에서 이루어졌는데 반발이 거세질 것 같습니다. 어떻게 보십니까？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

교육감 선거 비리로 감옥에 계셔야 될 공정택 교육감이 또다시 사고를 친 것입니다. 저는 가장 빠른 시간 내에 공 교육감이 구속수감이 되어서 또 다른 사고를 일으키지 않도록 해야 된다고 생각을 합니다.

이번 교사의 체험 수업은 교사의 양식에 따른 판단입니다. 교사를 존중을 해야 됩니다. 이 교사 분이 돈봉투를 받았습니까？ 학생을 심하게 때렸습니까？ 성폭력을 했습니까？ 성추행을 했습니까？ 그렇지 않습니다.

교사의 양심을 징벌로 체벌하는 이건 참으로 부끄러운 교육현실입니다. 그 교사를 하루속히 학생들의 품으로 다시 돌려줘야 합니다. 저도 오늘 저녁 촛불집회에 참가할 예정입니다.

◀ＡＮＣ▶

최근 교육부 1급 공무원 7명이 사표를 제출했습니다. 청와대가 대대적인 교육부 내 인적개편에 나서기로 한 것으로 보는 시각이 많은데요. 관련해서 또 이주호 청와대 교육과학문화수석의 차관 기용설도 나오고 있고요. 이런 일련의 움직임들 어떻게 보십니까？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

지금 현재 사표수리 파동, 이 페이지를 넘기면 이주호 전 수석의 컴백이 등장할 거라고 저는 생각을 합니다. 그동안 영어몰입교육, 그리고 국제중 파동 그리고 여러 가지 교육의 문제, 교과서 논쟁, 이런 것들의 중심에 ＭＢ교육정책이 있었고 그 ＭＢ정책의 틀을 짠 분이 이주호 전 수석입니다.

그런데 이주호 전 수석은 지난 촛불시위 때 표출된 분노한 민심으로 인해서 퇴진한 분입니다. 이미 올드보이가 되었습니다. 이 올드보이를 다시 컴백시켜서 ＭＢ의 교육정책을 밀어붙이려고 하는 것입니다. 학생들이 말하는 미친 교육을 본격화하겠다는 것입니다.

이러한 정부의 인사행위는 결코 동의받을 수도 없고 지지할 수도 없습니다.

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반면에 여당인 한나라당은 개혁정책을 위한 불가피한 것이다, 이런 주장은 나오고 있기는 하더군요. 또 다른 현안입니다. 교과부가 좌편향논란 속에서 한국 근현대사 교과서 내용 ２０곳을 수정했지 않습니까？ 그중에 상당수 저자들이 법적대응에 나서고 있는 이런 상황인데요. 어떻게 의견 갖고 계신지요？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

교과서를 수정하라고 정부와 대통령이 나서는 나라는 없을 것입니다. 그리고 특히 지금이 어떤 때입니까？ 경제가 어렵다고 난리입니다. 서민들의 경제사정이 힘들다고 아우성치고 있습니다. 교과서 논쟁은 결국에는 이념논쟁을 부채질합니다. 국론이 분열됩니다. 지금 이렇게 국론을 분열시킬 만큼 한가로운 때가 아니지 않습니까？

만약에 교과서를 수정할 필요가 있다고 하면, 수정할 부분이 있다고 그러면 그것은 경제위기가 지난 다음에 그리고 전문가들에게 맡겨서 수정할 필요가 있으면 수정을 하는 것이 마땅하다고 생각합니다.

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서울시교육청이 내년부터 중학교 ２학년, ３학년도 진단평가를 의무적으로 실시하는 방안을 추진, 검토하고 있더군요. 이 부분 의견, 분명히 갖고 계시겠군요.

◀ 안민석 의원/교육과학위 민주당 간사 ▶

평가의 결과는 결국에는 각 학교를 서열화시킵니다. 각 학교의 등수가 매겨질 수밖에 없습니다. 그러면 어떤 결과로 이어질까요. 성적이 뒤처진 학교, 성적이 뒤처진 학생들은 학원으로 달려갈 수밖에 없습니다. 우리 학부모들의 주머니가 또다시 고통받게 됩니다.

이런 결과를 조장하는 진단평가, 여기에 동의하기가 쉽지가 않습니다. 그리고 결국에는 또다시 학생들이 학원으로 몰려가면서 우리의 공교육현장은 황폐화되고 붕괴되는 그런 결과를 초래하게 될 것입니다.

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하지만 반대로 보면 평준화에 기반을 둔 그동안의 교육정책 때문에 학생들의 경쟁력이 떨어진 것 아니냐, 그래서 별 문제 없을 것으로 본다라는 입장도 있습니다. 어떻게 생각하십니까？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

우리 학생들의 경쟁력은 너무 높아서 문제라고 봅니다. 그런데 그 경쟁력의 이면은 어떻습니까？ 고등학교 아이들이 하루에 15시간씩 학교에 머물러 있습니다. 도대체 이렇게 자라는 청소년들이 어디 있습니까？

또 초등학생들은 그 어린 꼬마들이 학원과 과외수업을 받기 위해서 학교가 끝나면 밤 늦은 시간까지 집에 들어오지 못하고 있습니다. 이러한 학교 교육의 경쟁력이 무슨 소용이 있겠습니까?

교육의 틀을 바꾸는, 교육의 패러다임을 바꿔서 교육의 경쟁력을 높이는 그런 발상의 전환이 필요하다고 생각합니다.

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최근 들어서 대학교육협의회죠. 대교협 등의 단체에서 본고사 그리고 고교등급제, 기여입학제 금지 같은 ３불정책을 대폭 완화하려고 하는 움직임을 지금 보이고 있습니다. 이 부분 역시 글로벌시대에 맞춰서 변화해야 한다라는 입장인데 어떻게 봐야 될까요.

◀ 안민석 의원/교육과학위 민주당 간사 ▶

저는 대교협의 ３불폐지 주장이 참으로 탐욕스럽다고 생각합니다.

대학 총장님들이 모여 있는 대교협에서는 어떻게 하면 우리나라 고등교육을 정상화시키고 선진화시킬 것에 염두를 둬야지 지금처럼 아이들이 대학 가서 오로지 취업공부하고 있고 대학이 입시 취업준비 기관이 되어 버렸고 영어공부나 하고 사시공부나 하는 이런 대학의 현실을 근본적으로 바꿀 생각을 하지 않으시고 이 대학을 더욱더 서열화시키고 그로 인해서 중•고등학교 공교육을 또 황폐화시키는 그런 식의 ３불폐지 주장에 결코 동의할 수 없고요.

대학총장들이 모이셔서 우리나라 교육을 책임지는 그런 모습, 그런 주장들 그런 머리를 맞대는 그런 노력을 보여주시기를 간곡히 부탁드리겠습니다.

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이 문제와 관련해서는 지금 현재 국회에서 대교협 관련법 개정안이 마련중이지 않습니까？ 현재 상황 어떻게 진행되고 있나요.

◀ 안민석 의원/교육과학위 민주당 간사 ▶

아직까지 국회에서 구체적 논의되지는 않고요. 대교협에게 대학입시 선발권을 맡기겠다는 발상은 고양이에게 생선을 맡기는 것과 똑같습니다. 아직까지 우리나라 대학들이 그런 준비가 되지 않았습니다.

일정 부분의 대학에 대한 관리감독, 특히 입시 관련된 관리감독권을 정부가 가지고서 탐욕스런 대학들에 대해서 특히 일류대학을 중심으로 하는 그런 탐욕스러운 대학에 대해서 정부가 어느 정도 제어하지 않으면 그 분출되는 입시욕구는 제어하기가 상당히 어렵다고 생각합니다.

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끝으로 교육문제 만큼은 어떤 정부가 들어서더라도 흔들리지 않아야 된다라는 기본전제가 분명히 있어야 될 것 같은데요. 지금 상황에서 해법 찾기 어려울 것 같습니다. 해법이 있다면 안 의원께서는 어떻게 말씀해 주실 수 있습니까？

◀ 안민석 의원/교육과학위 민주당 간사 ▶

성급하게 성과를 내려는 조급함을 버려야 됩니다. 교육은 백년대계라고 하지 않습니까？ 100년은 아니고 적어도 10년을 내다보는 교육정책을 수립해야 됩니다.

그런데 우리는 １년, ２년 그 성과에 초조해하는 이런 교육정책 결코 성공할 수 없다는 것은 지난 정권에서 이미 많이 보아오지 않았습니까？ 최소한 １０년을 내다보는 여유와 혜안을 가진 그런 교육정책, 그것이 필요하다고 생각합니다.






ASIAN BANKER PERSPECTIVES


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Published December 22, 2008
Week of December 22, 2008


Goldman Sachs paid more money in salaries and bonuses in 2008—$10.93 billion—than it received in government bailout money.
While Nomura Holdings has a $303 million exposure to the alleged Madoff fraud and South Korean banks $95 million, European banks have over $6 billion.

Nigeria-based United Bank for Africa announced plans to expand operations in 2009, from the current eight, to 23 African countries, including Senegal, Kenya and Tanzania.

Kuwait’s Global Investment House is restructuring its foreign loans with the help of HSBC and Commercial Bank of Kuwait after missing a $200 million repayment on December 15th.
Bank of Korea will finance half of a $15 billion bank bailout fund, which aims to restore CAR to 9%; Korea Development Bank will put up 10%, and investors the rest.
Bank of America raised its stake in China Construction Bank twice this year, but local laws are now blocking it from profiting from a partial divestment, at least until May 2009.

GE Money Hong Kong is reportedly looking for local buyers for its $1.5 billion mortgage business.

The Vietnamese government plans to support SMEs with a fund and has asked banks not to penalise business defaulters.

Indonesia’s central bank has banned financial institutions in the country from making loans or overdrafts for certain derivative transactions to curb speculation on the rupiah.

Chanda Kochhar, the mastermind of ICICI Bank of India’s retail banking strategy, will become CEO in May 2009, reflecting the need for a leader linked to a stable franchise.

NAB's Australia CEO Ahmed Fahour will move to a group position when his role is merged with that of group CEO, to be taken by Cameron Clyne in January, 2009


금융위 "외화 회계장부 허용"
2008년 12월 22일 14:09

상장회사나 비상장 대기업 가운데 매출과 매입을 주로 외화로 결제하는 기업에 대해 외화로 회계장부를 기록하는 기능 통화 회계제도가 올해 결산에 허용됩니다.
또 비상장 중소기업에 대해서는 외화환산 특례를 추가로 적용해 기업들이 외화 평가 시 기말 환율 대신 지난 6월 30일 환율을 적용하기로 했습니다.
금융위원회와 금융감독원은 최근 비정상적인 환율 급등으로 인한 기업들의 연말 재무제표 악화를 예상해 이런 내용을 골자로 한 외화 환산관련 회계처리 개선방안을 마련했다고 밝혔습니다.
금융위원회는 대규모 환손실로 기업들이 재무제표상 적자를 기록할 수 있고, 그렇게 되면 자본 조달과 영업에도 어려움을 겪게 될 것이란 판단에서 이번 개선방안을 마련했다고 밝혔습니다.




Temporarily currently handled category which are banks, insurance and fund, extremely limited range) and transaction limit (in case of foreign currency denominated transaction, it should be reported to Bank of Korea, accounting rule standard) are to be maintained.

As global trade is inevitable, after debating of U.S. Europe’s supervisory policy, we are going to see whether CDS is to be designated as a insurance product or CDS trading report should be obligated.