1. 입 찰 개 요
□ 입찰일시 : ’09.1.19(월) 10:40∼11:00 (발행일: ’08.9.10)
□ 입찰금액 : 10년물 8,000억원
2. 응 찰 결 과
□ 응찰금액 (응찰율) : 5,500억원(68.75%)
□ 응찰금리 : 4.20%∼4.63%
3. 입 찰 결 과
□ 낙찰금액 : 4,260억원
□ 낙찰금리 : 4.53%
□ 부분낙찰율 : 0%
(LEAD) S. Korea names army commander to head unit supporting U.S. base relocation
By Sam Kim
SEOUL, Jan. 19 (Yonhap) -- A South Korean army corps deputy commander was appointed Monday to head a key unit supporting the relocation of U.S. forces here, a spokesman said, following a scandal that forced his predecessor to resign.
About 28,500 U.S. troops are stationed in South Korea as a deterrent against North Korea -- a legacy of the 1950-53 Korean War. As part of its global realignment plan, the U.S. Forces Korea (USFK) is working to move most of its frontline bases to south of Seoul.
Since 2006, South Korea's Ministry of National Defense (MND) has operated a unit known as MURO to support the move. The ministry said Monday it has named Lt. Gen. Kim Young-hoo of the Third Republic of Korea Army to lead the unit.
"Kim is a specialist in supplies and possesses linguistic capabilities that will help him cooperate with the U.S. side," spokesman Won Tae-jae said, adding the appointment marks the second time a lieutenant general has been named to the post.
The appointment of Kim, 58, came after a key advisor to the MURO unit resigned last week over a lobbying scandal.
The top post of MURO, short for MND USFK Relocation Office, has been vacant since November when Maj. Gen. Park Byung-hee retired to take office as an advisor. Park is alleged to have been involved in lobbying by a construction company before he took office as chief of the unit, which oversees an approximately 10-trillion-won (US$7.4 billion) budget related to the relocation. Presidential office says five ministers will be replaced
SEOUL, Jan. 19 (Yonhap) -- Seoul's presidential office will announce on Monday the nominees for five ministerial-level government posts and 15 vice ministers, an official said.
The presidential office "will announce at 2 p.m. the nominees for five ministerial and 15 vice-ministerial posts," the official at the presidential office Cheong Wa Dae told reporters.
The Cabinet shakeup was largely expected to include finance minister Kang Man-soo, who has been severely criticized for failing to predict the ongoing economic slump, as well as unification minister Kim Ha-joong, the country's point man on North Korea.
The scheduled announcement comes one day after Cheong Wa Dae named nominees for the heads of the national intelligence and police agencies.
The Cabinet reshuffle is also expected to include the successor for public administration minister Won Sei-hoon, who was tapped Sunday as the head of the National Intelligence Service.
Asian Debt Is Still Attractive After Rally, Lion Global Says
©2009 Bloomberg News
By Patricia Lui
Jan. 19 (Bloomberg) -- Asia’s dollar bonds are still attractive after a three-month rally because regional economies are stronger than those of the U.S. and Europe, said Lion Global Investors Ltd.
The extra yield investors demand to own emerging-market debt instead of U.S. Treasuries was 6.79 percentage points on Jan. 16, down from October’s six-year high of 8.65 percentage points, according to JPMorgan Chase & Co.’s EMBI+ Index. The spread averaged 3 percentage points in the five years prior to the collapse of Lehman Brothers Holdings Inc. in September.
“Asian credit spreads have come off a bit but there is still some value out there,” said Daniel Chan, chief executive officer of the Singapore-based fund management company that overseas the equivalent of $18 billion in assets. He said in an interview he favors government and corporate dollar-denominated debt in South Korea, Malaysia and the Philippines.
Lehman’s bankruptcy prompted U.S. and European investors to raise cash by selling emerging-market assets, causing the MSCI Asia Pacific Index excluding Japan to drop 53 percent last year, compared with the 34 percent decline in the Dow Jones Industrial Average. Asian banks avoided the worst of the credit losses after regulators tightened lending rules following the regional currency collapse in 1997.
“Asian markets have been sold off far more than the U.S. and Europe even though the fundamentals here are better,” said Chan. “Banks and corporations in Asia are far healthier after the 1997 crisis.”
Financial companies in Asia have reported $31 billion in credit-market losses since the start of 2007, compared with $1.04 trillion worldwide, according to data compiled by Bloomberg. The World Bank predicted on Dec. 9 growth in developing economies will slow to 4.5 percent in 2009 from 6.3 percent last year, faster than global expansion of 0.9 percent.
Currency Outlook
Asian currencies have extended last year’s losses with nine out of the 10 most active currencies excluding the yen down against the dollar since the start of the year. The Korean won fell 6.6 percent in 2009 after dropping 26 percent last year.
“Asian currencies won’t weaken much from current levels as Asia’s economic fundamentals are relatively strong,” Chan said. “Currently, the weakness is from repatriation to the U.S. which I see as temporary. They should bottom out soon, maybe by the middle of the year.”
South Korean bonds are attractive as falling oil prices and support to exporters from a weaker won improve the nation’s trade balance, Chan said. Lion Global on Jan. 7 started marketing its LionGlobal Opportunities Fund, aimed at global equities and fixed income.
Chan also favors bonds linked to Malaysian state-owned investment arm Khazanah Nasional Bhd., Russian oil-company debt and securities from Middle-Eastern countries like Abu Dhabi.
The investment climate will be “challenging” as risk aversion is still the dominant theme this year, Chan said. “Most of the pension funds and institutional investors are still not clear on what they want to do,” he said.
--Editors: Sandy Hendry
Hana Says It Doesn’t Plan to Tap State-Backed Fund for Capital
©2009 Bloomberg News
By Bomi Lim
Jan. 19 (Bloomberg) -- Hana Financial Group Inc., the company controlling South Korea’s fourth-biggest bank, said it doesn’t plan to tap a state-initiated fund for capital, at least in the first half of the year.
“Hana Financial won’t need to seek support from the government’s recapitalization fund in the first two quarters,” President and Chief Executive Officer Kim Jong Yeol told employees yesterday, according to an e-mailed copy of his speech. The government plans to allow banks to seek support from the 20 trillion won ($14.8 billion) fund starting in the first quarter.
Hana Financial injected 1.5 trillion won in capital into its Hana Bank unit in December as a buffer against a potential rise in bad loans amid a slowing economy. The Seoul-based bank cut 327 jobs this month, offering early retirement packages for the first time in five years.
With the latest capital injection Hana Bank’s tier 1 capital rose to 9.2 percent and its overall capital-adequacy ratio climbed above 13 percent, Kim said.
Presidential office says five ministers will be replaced
SEOUL, Jan. 19 (Yonhap) -- Seoul's presidential office will announce on Monday the nominees for five ministerial-level government posts and 15 vice ministers, an official said.
The presidential office "will announce at 2 p.m. the nominees for five ministerial and 15 vice-ministerial posts," the official at the presidential office Cheong Wa Dae told reporters.
The Cabinet shakeup was largely expected to include finance minister Kang Man-soo, who has been severely criticized for failing to predict the ongoing economic slump, as well as unification minister Kim Ha-joong, the country's point man on North Korea.
The scheduled announcement comes one day after Cheong Wa Dae named nominees for the heads of the national intelligence and police agencies.
The Cabinet reshuffle is also expected to include the successor for public administration minister Won Sei-hoon, who was tapped Sunday as the head of the National Intelligence Service.
현대차, 포스코, 하이닉스의 협력업체가 약 7000억원의 자금을 지원 받는다. 어려움을 겪고 있는 중소 납품업체가 대기업, 은행, 정부 보증기관의 도움을 받아 장기ㆍ저리로 대출을 받을 수 있는 길이 열린 것이다.
19일 오전 10시 지식경제부, 금융위원회는 서울 반포동 메리어트호텔에서 이런 내용의 ‘상생보증 프로그램’ 협약식을 개최했다.
협력업체 지원을 위해 현대차, 포스코, 하이닉스 등 대기업 3개사는 210억원을 출연하고 여기 기업 신한 우리은행 등 3곳이 210억원을 더해 총 420억원을 신보, 기보에 특별 출연한다. 신보, 기보는 출연금의 약 16.5배에 달하는 7000억원 규모 대출자금을 보증해준다. 대출금이 100% 보증되는 만큼 은행은 협력업체에 저금리로 장기 대출을 해줄 방침이다.
자금 지원을 받는 협력사는 각 대기업이 선별해 추천할 예정이다. 1차 부품ㆍ소재업체 뿐만 아니라 2, 3차 하청업체도 지원 대상에 포함된다. 대기업의 추천과 은행과 심사를 거쳐 다음달 초부터 자금이 해당 협력업체에 풀릴 전망이다.
김영학 지경부 산업경제실장은 “경제적 파급 효과가 큰 자동차, 철강, 반도체 업체를 대상으로 1차 협약을 우선 추진했다”면서 “대기업과 금융권과의 협의 하에 지원 업종과 대상을 확대해나갈 계획”이라고 말했다. 이어 그는 “현대차 2, 3차 납품업체에 쌍용차, GM대우 협력업체도 일부 포함되는 만큼 전체 자동차 부품업계에 대한 지원 효과가 날 것으로 기대하고 있다”고 설명했다.
한편 이날 협약식에는 이윤호 지경부 장관, 전광우 금융위원장을 비롯해 윤여철 현대차 부회장, 윤석만 포스코 사장, 김종갑 하이닉스 사장, 신상훈 신한은행장, 이종희 우리은행장, 윤용로 기업은행장 등이 참석했다.
조현숙 기자/newear@heraldm.com
‘It’s Time to Sell’ Treasuries, Biggest Korean Investor Says
©2009 Bloomberg News
By Wes Goodman
Jan. 19 (Bloomberg) -- A rally that sent U.S. Treasuries to their best year since 1995 is coming to an end, South Korea’s National Pension Service, the country’s biggest investor, said.
U.S. government efforts to combat the recession will prompt the Federal Reserve to raise interest rates this year, said Kim Heeseok, who oversees $160 billion as head of global investments for the service in Seoul. The decline would snap a surge that sent the securities up 14 percent last year, according to Merrill Lynch & Co.’s U.S. Treasury Master index, as investors sought the relative safety of debt.
“It’s time to sell U.S. Treasuries,” said Kim, who took over as head of investments at the start of the year. “The stimulus plan may cause inflation. The U.S. will raise the benchmark interest rate.”
U.S. government securities headed for their first monthly loss since October after President-elect Barack Obama, who takes office tomorrow, said he will do “whatever it takes” to battle what he called the biggest economic crisis since the Great Depression. Obama is planning an $850 stimulus plan, on top a $700 billion approved by President George W. Bush.
Ten-year Treasury yields, used as benchmarks for corporate and government borrowing costs, will rise to 3.08 percent by year-end from 2.32 percent now, a Bloomberg survey of banks and securities companies shows. An investor who bought today would lose 3.3 percent including reinvested interest if the forecast proves accurate, according to data compiled by Bloomberg.
Two-year rates will climb to 1.43 percent from 0.73 percent, according to the survey, which gives heavier weightings to the most recent forecasts.
Higher Rates
The Fed will increase its target rate for overnight loans between banks to 0.75 percent by March 31, 2010, the poll shows. The U.S. central bank last month cut the target to a range of zero percent to 0.25 percent.
U.S. yields indicate traders are becoming more concerned about inflation.
The difference between rates on 10-year Treasury Inflation Protected Securities, or TIPS, and conventional notes, which reflects the outlook among traders for consumer prices, widened to 53 basis points from minus 8 basis points two months ago.
The spread has averaged 1.19 percentage points during the pat six months.
Investors in South Korea cut their holdings of U.S. debt to $28.6 billion in November, less than half of what they owned in 2006, based on Treasury Department data.
China, the largest foreign owner of Treasuries, increased its stake to a record $681.9 billion in November.
It may take a few months for the U.S. economy to start growing and Treasuries to fall, Kim said. Government debt has handed investors a 0.4 percent loss so far in January, according to the Merrill index.
“At the end of this year, Treasury prices will depreciate,” he said. “We are considering” selling.
--Editors: Nicholas Reynolds, Sam Nagarajan
To contact the reporter on this story: Wes Goodman in Singapore at +65-6212-1568 or wgoodman@bloomberg.net.
To contact the editor responsible for this story: Nicholas Reynolds at +81-3-3201-8676 or nreynolds2@bloomberg.net.
‘It’s Time to Sell’ Treasuries, Biggest Korean Investor Says
©2009 Bloomberg News
By Wes Goodman
Jan. 19 (Bloomberg) -- A rally that sent U.S. Treasuries to their best year since 1995 is coming to an end, South Korea’s National Pension Service, the country’s biggest investor, said.
U.S. government efforts to combat the recession will prompt the Federal Reserve to raise interest rates this year, said Kim Heeseok, who oversees $160 billion as head of global investments for the service in Seoul. The decline would snap a surge that sent the securities up 14 percent last year, according to Merrill Lynch & Co.’s U.S. Treasury Master index, as investors sought the relative safety of debt.
“It’s time to sell U.S. Treasuries,” said Kim, who took over as head of investments at the start of the year. “The stimulus plan may cause inflation. The U.S. will raise the benchmark interest rate.”
U.S. government securities headed for their first monthly loss since October after President-elect Barack Obama, who takes office tomorrow, said he will do “whatever it takes” to battle what he called the biggest economic crisis since the Great Depression. Obama is planning an $850 stimulus plan, on top a $700 billion approved by President George W. Bush.
Ten-year Treasury yields, used as benchmarks for corporate and government borrowing costs, will rise to 3.08 percent by year-end from 2.32 percent now, a Bloomberg survey of banks and securities companies shows. An investor who bought today would lose 3.3 percent including reinvested interest if the forecast proves accurate, according to data compiled by Bloomberg.
Two-year rates will climb to 1.43 percent from 0.73 percent, according to the survey, which gives heavier weightings to the most recent forecasts.
Higher Rates
The Fed will increase its target rate for overnight loans between banks to 0.75 percent by March 31, 2010, the poll shows. The U.S. central bank last month cut the target to a range of zero percent to 0.25 percent.
U.S. yields indicate traders are becoming more concerned about inflation.
The difference between rates on 10-year Treasury Inflation Protected Securities, or TIPS, and conventional notes, which reflects the outlook among traders for consumer prices, widened to 53 basis points from minus 8 basis points two months ago.
The spread has averaged 1.19 percentage points during the pat six months.
Investors in South Korea cut their holdings of U.S. debt to $28.6 billion in November, less than half of what they owned in 2006, based on Treasury Department data.
China, the largest foreign owner of Treasuries, increased its stake to a record $681.9 billion in November.
It may take a few months for the U.S. economy to start growing and Treasuries to fall, Kim said. Government debt has handed investors a 0.4 percent loss so far in January, according to the Merrill index.
“At the end of this year, Treasury prices will depreciate,” he said. “We are considering” selling.
--Editors: Nicholas Reynolds, Sam Nagarajan
[신동준의 채권이야기] 회사채 투자 만기는 짧게 경기방어산업 위주로
국채와 달리 신용위험을 가진 은행채, 공사채, 회사채, 카드채 등 크레딧물의 금리가 큰 폭으로 하락했다. 금리 하락폭도 국채에 비해 훨씬 컸다. 크레딧물과 국채와의 금리차이를 의미하는 신용스프레드는 빠르게 좁아지고 있다.
전주 국고채3년 금리가 글로벌 금융불안의 재확산 우려로 0.13%포인트 상승한 데 반해, 3년만기 은행채와 AA-등급 회사채 금리는 각각 0.10%포인트, 0.17%포인트 하락했다. 특히 한국은행의 유동성공급에 의한 간접지원을 받은 카드채와 3개월 기업어음(CP)금리는 각각 일주일 동안 1.33%포인트(3년 기준), 1.09%포인트나 폭락했다.
2008년 10월말 3.35%포인트까지 확대됐던 국채금리 대비 은행채 스프레드는 두 달 반 사이에 1%포인트 내외로 좁아졌고, 공기업임에도 투자자 꺼려졌던 공사채 스프레드는 2.56%포인트에서 0.7%포인트대로 좁아졌다.
AA등급 이상 우량회사채는 2008년 말과는 상황이 180도 역전되었다. 투자자들은 회사채를 구하기 위해 몰려들고 있으며, 아무리 높은 금리를 지급해도 발행이 어려웠던 기업체는 느긋하게 금리하락을 즐기고 있는 모습이다. 일부 투자자들 사이에서는 묻지마 투자의 행태마저 나타나고 있다.
너무 빠른 신용스프레드의 축소에 투자자들도 당황하고 있다. 한국은행의 적극적인 지원으로 유동성경색에 대한 공포가 사라지면서 여전히 7%대의 금리를 유지하고 있는 AA등급 이상 회사채에 대한 수요가 급증하고 있는 것은 어찌보면 당연하다.
그러나 경기침체가 지속되고 있는 상황에서 구조조정을 앞두고 있는 A등급 이하 회사채와 특히 경기민감업종에 대한 스프레드 축소는 과도하다. 이들 기업의 펀더멘털이 달라진 것은 없다.
우리가 크레딧물에 열광하고 있는 사이, 씨티그룹은 5분기 연속 적자로 허우적거리고 있으며 메릴린치를 인수한 뱅크오브아메리카(BOA)는 대규모 분기손실로 200억달러의 추가자금을 지원받기로 했다. 그런 가운데 전주 글로벌 신용평가기관들이 국내 은행들의 신용등급 하향조정을 검토하고 있다는 소식이 들려왔다. 이미 현대차 등의 신용등급은 하향조정됐다.
개인투자자들에게 있어 회사채와 카드채 등은 정기예금 금리보다 높아 만기보유의 형태로 선호되고 있다. 개인들은 신용등급 하락이나 가격변동에 따른 시가평가 위험에도 크게 노출되어 있지 않아 기관투자자들보다 상대적으로 운신의 폭이 크지만, 분산투자가 어렵기 때문에 부도가능성에 대해서는 더 꼼꼼히 따져봐야 한다.
되도록이면 만기를 짧게, 그리고 A등급 이상의 업체들 중에서 에너지, 식품, 제약, 통신 등의 경기방어적인 산업 위주로 접근해야 할 것이다.
(현대증권 채권분석팀장)
외화자금사정 안심하긴 이르다
환율폭등, 외화조달시장 다시 불안
[ⓒ '글로벌 종합일간지' 아시아투데이]
정부가 외환위기를 넘겼다고 선언한 지 한 달여 만에 외화유동성 불안이 재현될 조짐이 나타나고 있다.
원•달러 환율은 올 들어 11거래일 만에 100원 가까이 폭등했고 해빙 양상을 보이던 은행권 외화조달도 한국물 외화채권의 신용도 악화 등의 여파로 다시 불안해지고 있다.
다음 달 167억달러 가량을 정부와 한국은행에 상환해야 하는 은행들은 씨티그룹 등 세계적 금융그룹의 부실 확대 여파로 2차 금융위기가 발발할까 노심초사하고 있다.
◇ 달러 부족, 외환시장 불안
18일 외환시장에서 따르면 지난 16일 원•달러 환율은 1358원을 기록, 작년 말 이후 11거래일간 상승폭이 98.50원(7.8%)으로 작년 한 해 상승폭(323.40)의 약 3분의 1에 육박하고 있다.
환율은 작년 11월24일 1513원에서 정부의 다각적인 시장개입으로 작년 말에는 1259.50원까지 떨어졌지만 올해 들어 국내외 주가급락 등의 여파로 가파른 상승세를 보이면서 15일에는 1400원에 근접하기도 했다.
연말을 넘기면서 해빙 양상을 보이던 외화 조달 시장도 다시 경색될 기미를 보이고 있다.
새해 들어 돈을 풀어 수익 확보에 나서려던 해외 금융회사들이 씨티그룹과 HSBC, 도이체방크 등 세계적 금융회사들의 부실에 대한 우려로 2차 금융위기 가능성이 제기되면서 다시 지갑을 닫는 양상이다.
외환스와프 시장에서 현물환과 선물환의 차이인 스와프 포인트(1개월물)는 지난 9일 플러스로 돌아섰지만 15일 -0.50원으로 반락하는 등 불안한 기미를 보이고 있다.
원화를 대가로 한 달 동안 달러화를 빌리기가 다시 어려워지고 있다는 의미다.
◇ 외화채권 신용도 악화
국제금융시장에서 한국물 외화채권에 대한 신용도는 지난주부터 다시 악화되고 있다.
국제금융센터에 따르면 2014년 만기 외국환평형기금 채권의 가산금리는 15일(현지 시각) 기준 3.86%로 6거래일 연속 상승세를 보이면서 지난 7일에 비해 0.36% 포인트 상승했다.
5년 만기 외평채에 대한 신용부도스와프(CDS) 프리미엄도 같은 기간 2.67%에서 3.23%로 0.56%포인트 높아졌다.
CDS 프리미엄이란 채권의 부도 위험을 보상해주는 보험 성격의 파생상품으로 수수료에 해당하는 프리미엄이 오른 것은 그만큼 부도 위험이 커졌다는 의미다.
외평채 가산금리나 CDS 프리미엄 상승은 한국이 외화채권을 발행할 때 조달비용이 비싸진 것으로 외화 수급에 부정적으로 작용하게 된다.
은행들의 신용도도 일제히 악화됐다.
산업은행과 수출입은행이 발행하는 5년 만기 외화채권의 CDS 프리미엄은 지난 9일 3.16%까지 낮아졌다가 15일에는 3.81%로 급등했고 국민은행의 CDS 프리미엄도 같은 기간 3.38%에서 3.94%로 높아졌다.
◇ 은행권 내달 달러난 우려
수출입은행이 지난 13일, 그리고 산업은행이 17일 각각 20억달러의 무보증 해외 채권 발행에 성공하는 등 국책은행들의 해외차입 여건은 작년 9월 리먼브라더스 사태 직후에 비해 호전됐다.
하지만 시중은행의 기간물 차입은 여전히 어렵고 공모 시장에서의 채권 발행은 엄두도 못 내고 있다.
최근 유럽계 은행이 우리은행에 1억달러를 빌려주기로 하고도 5000만달러만 입금하고 절반은 2∼3주 후에 입금하기로 한 것은 작년 말 자체적인 회계처리 문제와 함께 향후 금융시장 여건 변화 가능성 등을 고려한 것으로 보인다.
우리은행 관계자는 "작년 9월 리먼 사태 이후 해외 차입 시장이 꽁꽁 얼어붙었다면 지금은 얼음장 밑으로 물이 조금 흐르는 정도"라며 "기간물 차입은 여전히 어렵고 공모발행도 2분기는 돼야 가능할 것 같다"고 말했다.
이렇게 해외차입이 어렵다 보니 은행들은 현재 외화 소요자금의 상당 부분을 정부와 한국은행이 지원한 자금에 의존하고 있다.
한은과 정부는 당초 계획한 550억달러 가운데 이미 377억달러를 풀었으며 한•미 통화 스와프 자금 133억5000만달러까지 포함하면 총 510억5000만달러를 공급했다.
한은이 공급한 자금 가운데 115억달러, 수출입은행을 통해 풀린 달러 중 51억9000만달러가 다음 달 만기가 돌아온다.
한은과 기획재정부는 시장 상황이 좋지 않으면 이 자금의 만기 연장을 생각하고 있다.
은행들은 2차 금융위기 발발 여부와 함께 최근 국내 은행들의 신용등급 하향을 검토하고 있는 무디스가 실제로 등급을 하향 조정할 가능성에 촉각을 곤두세우고 있다.
<윤광원 기자 gwyoun@asiatoday.co.kr>
• We have searched four subcontractors and a few other firms involved in the case and found out whatever was there to find, officials said. (출처: The Korea Herald)
“이 사건에 관련된 하청업체 네 곳과 기타 회사 몇 곳을 수색하고 그곳에서 찾을 수 있는 것은 모두 찾아냈다”고 관리들은 말했다.
• He was in charge of arranging subcontractors for Doosan at the time. (출처: The Korea Herald)
그는 당시 두산산업개발에서 하청업체 관리를 맡고 있었다.
• In the second half it will choose a final foreign bidder and domestic subcontractors. (출처: The Korea Herald)
하반기에 최종 외국 입찰자와 국내 하청업체를 선정하게 된다.
• Twelve of the 20 conglomerates plan to spend 3.7 trillion won in subsidies to contractors, according to the report. (출처: The Korea Herald)
20대 재벌 중 12개 재벌은 3조 7000억원을 하청업체에 대한 지원금으로 사용할 계획인 것으로 이 보고서에 나타났다.
• We will do our best to increase exports by continuing to improve product quality and to develop new technology, Kim Dong-jin, Hyundai`s vice chairman and chief executive officer, said in a speech to around 200 employees, suppliers and journalists. (출처: The Korea Herald)
“제품의 품질을 향상하고 신기술을 개발하여 수출 증대에 최선을 다하겠다”고 김동진 현대차 부회장 겸 사장이 종업원, 하청업체, 기자 등 200여명이 모인 자리에서 말했다.
• Last month, Hyundai Engineering & Construction was chosen as a subcontractor for U.S.-based Washington Group`s $220 million project to rebuild electricity, water supply and sewage treatment facilities. (출처: The Korea Herald)
지난달 현대건설은 미국계 워싱턴 그룹의 2억2천만달러 규모의 프로젝트의 하청업체로 선정되어 이라크 내 전기, 수도, 하수처리장 건설을 맡게 되었다.
• The company said its production plant in Alabama has lowered its annual production target due to a lag by subcontractors. (출처: The Korea Herald)
현대차는 미국 앨라배마 공장이 하청업체의 납품 지연으로 인해 연간 생산 목표대수를 하향조정했다고 말했다.
• A videotape aired on an Arab TV station showed Korean Kim Sun-il, a 33-year-old employed by a Korean firm doing contractor work for the U.S. military, begging for his life. (출처: The Korea Herald)
아랍 TV 방송을 통해 방송된 비디오테이프에는 미군의 하청업체로 일하고 있는 한국 기업의 직원 김선일 (33)씨가 생명을 애걸하는 모습이 나왔다.
• The official noted various factors were behind the rise in memory chip prices, including fears of disruption in supply as small chipmakers, including those in Taiwan, become fab contractors for developers. (출처: The Korea Herald)
회사 관계자는 대만 업체를 포함한 소규모 반도체 업체들이 개발업체의 하청업체로 전환함에 따른 공급 부족에 대한 우려감을 포함해 다양한 요인이 메모리 칩 가격 급등을 야기한 것으로 보인다고 언급했다.
• The Korean Embassy is cooperating with the U.S. military, as it did last November when two employees of a South Korean subcontractor to the American military were shot dead. (출처: The Korea Herald)
한국 대사관은 작년 11월에 한국의 미군 하청업체 직원 두 사람이 총격을 받고 사망했을 때와 마찬가지로 미군과 협력하고 있다.
• There will always be at least one government-owned ammunition plant, albeit run by a private contractor. (출처: 세계일보 WT논평)
비록 민간 하청업체가 운영하지만 정부 소유의 탄약공장이 최소한 하나는 항상 존재할 것이다.
• According to the head of Ssangyong`s labor union, SAIC is trying to turn the Korean company into a subcontractor that provides technologies and engineers. (출처: The Korea Herald)
쌍용차 노조 위원장의 말에 따르면 SAIC는 쌍용차를 기술과 엔지니어를 공급하는 하청업체로 변모시키려 한다고 한다.
• Hyundai Motor and Kia Motors will extend combined 343 billion won in assistance to their contractors and LG Group, 325 billion won. (출처: The Korea Herald)
현대자동차와 기아자동차는 하청업체에 대해 모두 3,430억원을 그리고 LG그룹은 3,250억원을 제공할 예정이다.
• The conglomerates also said they would practice more ethical management through various programs such as appointing more outside board directors and refusing gifts from contractors. (출처: The Korea Herald)
재벌들은 또 외부이사 임명이나 하청업체의 선물 거절 등과 같은 다양한 계획을 통해 윤리경영을 더욱 실천하겠다고 밝혔다.
• Together with the U.S. government, the Korea International Trade Association and the Korea Trade-Investment Promotion Agency jointly hosted a conference for more than 500 representatives from Korean, Japanese, Chinese and Taiwanese subcontractors seeking contracts with U.S. companies in Iraq. (출처: The Korea Herald)
미국 정부와 함께 한국무역협회와 KOTRA는 이라크 재건을 맡고 있는 미국업체와 계약하길 바라는 한국, 일본, 중국, 대만의 하청업체 대표 500여명을 위한 컨퍼런스를 공동 주관했다.
• The last of 12 government-owned and -run ammunition plants, now run by a contractor, the Lake City Ammunition Plant, has several associated Web sites. (출처: 세계일보 WT논평)
정부가 소유하고 운영하는 정부의 12개 탄약공장 가운데서 마지막 남은 이 공장은 현재 하청업체에서 운영하고 있으며, 몇몇 관련 웹사이트를 개설하고 있다.
• He has been charged with taking a combined 245 million won from the builder and several subcontractors of the project. (출처: The Korea Herald)
그는 이 공사를 맡은 건설회사와 몇몇 하청업체로부터 총 2억 4500만원을 받은 혐의를 받고 있다.
• Korea`s major conglomerates plan to increase hiring and extend more assistance to contractors this year in a show of will to better fulfill their social responsibilities amid a lengthy economic slump, officials said yesterday. (출처: The Korea Herald)
한국의 주요 재벌들은 경기부진이 장기화되고 있는 가운데 기업의 사회적 책임에 더욱 힘쓰겠다는 의지를 보여주기 위해 올해 채용과 하청업체에 대한 지원을 늘릴 계획으로 있다.
President sacks finance minister over economic crisis
By Byun Duk-kun
SEOUL, Jan. 19 (Yonhap) -- South Korean President Lee Myung-bak sacked his finance and unification ministers Monday in a long-anticipated shakeup of the Cabinet aimed at easing public anger over a looming economic recession and worsening relations with communist North Korea.
Yoon Jeung-hyun, former head of the Financial Supervisory Committee (FSC) and the Financial Supervisory Service (FSS), was tapped to succeed the embattled finance minister Kang Man-soo, who has been widely blamed for failing to forecast the ongoing economic difficulties and adopting a series of "misguided" policies that made the country more vulnerable to the global financial crisis.
"Yoon served as the head of the FSC and FSS under the former Roh Moo-hyun government and he is well versed in financial affairs with expertise on overall economic issues," Lee Dong-kwan, a spokesman for the presidential office Cheong Wa Dae, cited as the reason for his nomination.
"The government expects his nomination and appointment will bring about confidence in the market that will help us get through this economic crisis," he told reporters.
Unification minister Kim Ha-joong, the country's point man on North Korea, will be replaced by Hyun In-taek, a professor of political science from Seoul's Korea University, the president's alma mater.
Monday's reshuffle also included two other ministerial-level posts -- chief of staff for prime minister and the head of the Financial Services Commission.
Kwon Tae-shin, a career government administrator, was promoted to the position of prime minister's chief of staff while Chin Dong-soo, president of the state-run Export-Import Bank of Korea, was tapped to head the Financial Services Commission, according to the presidential spokesman.
Also to be replaced in the latest government shakeup are 15 vice ministerial-level officials, including the chief presidential secretary for economy, Bahk Byong-won, who recently underwent questioning by state inspectors for possible involvement in suspected irregularities committed by his former employer, Woori Financial Group.
Bahk is to be replaced by Yoon Jin-shik, president of the Korea Investment Holdings Co. Ltd., Lee said.
Despite Kang man soo successful the swap agreement, he tendered a resignation by saying it is time
(profile) Finance minister-designate tasked to steer economy through global recession
SEOUL, Jan. 19 (Yonhap) -- Yoon Jeung-hyun, appointed Monday to lead South Korea's finance ministry, is a well-known administrator respected for his financial expertise and strong leadership which experts hope he can draw on to help steer the local economy through a global recession, observers said Monday.
Born in 1946, Yoon majored in law at Seoul National University and passed the state civil examination in 1971, starting his career as a public servant. He spent most of his career at the finance ministry, where he accumulated expertise in taxation and finance.
Leaving the ministry briefly after the nation was hit by the Asia-wide financial meltdown in 1997, he returned as head of the Financial Supervisory Committee and the Financial Supervisory Service in 2004, a position he held until 2007.
Yoon will replace Kang Man-soo, who has been under pressure to resign after many critics say he lost market trust due to his controversial economic polices, including alleged intervention in the currency market to keep the won weak against the dollar for brisker exports.
Kang, the first finance minister under the Lee Myung-bak administration, was given the task of reinvigorating the nation's slowing economy when he assumed the post in February last year.
He leaves the post at a challenging time for his successor, as the economy is reeling from growing global recession woes in the wake of the financial turmoil that begain in September when the investment bank Lehman Brothers collapsed.
Many investment banks and research institutes lowered their 2009 growth projections for Asia's fourth-largest economy to the 1-percent range. Some painted bleaker pictures, projecting the first recession in a decade. Woongjin Polysilicon wins 693 bln won order from Hyundai Heavy
By Nam Kwang-sik
SEOUL, Jan. 19 (Yonhap) -- South Korea's Woongjin Holdings Co. said Monday that its polysilicon unit Woongjin Polysilicon has signed a 693 billion won (US$507.7 million) deal with Hyundai Heavy Industries Co. to supply polysilicon.
Under the deal, Woongjin Polysilicon will provide the essential raw material for solar cells to the world's top shipbuilder between 2011 and 2015.
Woongjin Polysilicon was set up in July last year.
(LEAD) Samsung's heir apparent excluded from annual promotion
SEOUL, Jan. 19 (Yonhap) -- Lee Jae-yong, the heir apparent to former Samsung Group chairman Lee Kun-hee, was excluded from an annual promotion of executive officials at Samsung Electronics Co., the group said Monday.
Samsung Electronics didn't promote the junior Lee, a senior vice president at the world's largest maker of computer memory chips, by one level to executive vice president because his three-year term in the current post isn't finished, the group said in a statement.
In South Korea, the younger Lee's position at Samsung Electronics has drawn intense scrutiny because he is widely expected to take over Samsung Group, the nation's biggest business conglomerate, in the coming years.
Some analysts say the founding family of Samsung is still waiting for the 40-year-old Lee to build his track record before passing the mantle on to the next generation.
A spokesman at Samsung declined to comment on Monday's reshuffle.
The Harvard Business School graduate, who joined the company in 1991 and was promoted to his current post in 2007, was recently reassigned to the company's overseas operations in the wake of a parliament-ordered corruption probe against the group last year.
His 69-year-old father stepped down in April last year shortly before he was convicted of tax evasion and sentenced to a three-year-suspended jail term.
Last week, Samsung Electronics announced a large-scale restructuring scheme that calls for the company to combine its four business divisions into two major groups, in a move intended to fight off the looming global economic recession.
Under the reshuffle, Samsung Electronics consolidated its semiconductor and liquid-crystal display units into the Device Solution division. The company also combined its mobile phone and consumer electronics units into the Digital Media and Communications
division.
On Monday, Samsung promoted a total of 247 executive-level officials at its affiliates, including 91 executives at Samsung Electronics. Overall, the group cut 10 percent of its roughly 1,600 executive jobs.
"The number of executives promoted this year was cut by 22 percent from last year to ensure the company copes with the worsening business conditions, which are set to continue for the time being," Samsung Electronics said in a statement.
Samsung Electronics is also the world's largest maker of liquid-crystal displays. The company ranks second in the world in global handset production, behind Finland's Nokia Corp.
The Samsung Group, which accounts for roughly 20 percent of South Korean exports, has 59 affiliates and employs some 250,000 workers worldwide.
By William Sim and Seyoon Kim
Jan. 19 (Bloomberg) -- South Korean President Lee Myung Bak nominated Yoon Jeung Hyun as finance minister, replacing Kang Man Soo after less than a year as the government tackles the nation's biggest economic crisis in a decade.
Yoon, 62, was head of the nation's financial services regulator from 2004 to 2007, according to a statement by the president's office in Seoul today. Sixty-three-year-old Kang was voted the worst minister in Lee's economic team in a December poll of 82 economic professionals by Citizens' Coalition for Economic Justice, a major civic group in South Korea.
Yoon will have to grapple with an economy facing its first recession since 1998, falling exports and the weakest consumer confidence since the Asian financial crisis a decade ago. President Lee, who this month created an economic war room in an underground bunker, is seeking to restore voter support, which has fallen by more than half in the past year.
“The new minister needs stronger leadership to coordinate and implement economic policy to revive the faltering economy,” said Lim Ji Won, an economist at JPMorgan Chase & Co. in Seoul. “The key question is how much the government can cushion the economy from the global downturn to seek a recovery in the second half.”
Policy makers have already allocated about 140 trillion won ($103 billion), or 15 percent of gross domestic product, in extra liquidity, tax cuts and stimulus spending to support the economy.
Interest Rate Cuts
The Bank of Korea also cut benchmark interest rate to a record low of 2.5 percent this month, extending the most aggressive round of easing since it began setting a policy rate in 1999.
``This reshuffle was focused at revitalizing the economy, and to help overcome the global economic crisis,'' presidential spokesman Lee Dong Kwan said Seoul today.
Kang's policies have been criticized since the beginning of last year when he pursued a weaker currency, saying Korea's won had previously risen more than other Asian currencies and that a drop would help aid exporters. The won lost 26 percent against the dollar last year and 40 percent versus Japan's yen. The won fell 0.5 percent to trade at 1,365 versus the dollar today.
“Kang is a person out of date and he seems to lack an understanding of how the world and the Korean financial market and the economies changed over the past decade,” said Kim Sang Jo, professor of international trade at Hansung University in Seoul.
The currency's slump drove inflation up to the highest in a decade in July and increased costs of overseas borrowing, prompting speculation of a repeat of 1997 when South Korea was forced to turn to the International Monetary Fund for a $57 billion bailout.
Kang's Mistake
“The weaker won policy was Minister Kang's biggest mistake as that propelled inflation,” said Kim Mi Young, manager of policy research at the Citizens' Coalition.
The government changed its stance on the won in June and in July President Lee dismissed Vice Finance Minister Choi Joong Kyung, who was in charge of the government's foreign-exchange policy.
In other changes today, Lee named Hur Kyung Wook as vice finance minister to replace Kim Dong Soo; Chin Dong Soo, chief executive officer of Export-Import Bank of Korea, to replace the current Financial Services Commission Chairman Jun Kwang Woo; and Yoon Jin Sik, former Commerce minister and current chairman of Korea Investment Holdings Co., to replace Bahk Byong Won as new chief aide on economic affairs.
Hyun In Taek, a political science professor at Korea University in Seoul, was nominated to replace Kim Ha Joong as Unification Minister. Most of the posts are subject to parliamentary approval.
For Related News: Top economic news TOP ECO
--With reporting by Heejin Koo in Seoul. Editors: Victoria Batchelor, David Tweed
(LEAD) Samsung's heir apparent excluded from annual promotion
SEOUL, Jan. 19 (Yonhap) -- Lee Jae-yong, the heir apparent to former Samsung Group chairman Lee Kun-hee, was excluded from an annual promotion of executive officials at Samsung Electronics Co., the group said Monday.
Samsung Electronics didn't promote the junior Lee, a senior vice president at the world's largest maker of computer memory chips, by one level to executive vice president because his three-year term in the current post isn't finished, the group said in a statement.
In South Korea, the younger Lee's position at Samsung Electronics has drawn intense scrutiny because he is widely expected to take over Samsung Group, the nation's biggest business conglomerate, in the coming years.
Some analysts say the founding family of Samsung is still waiting for the 40-year-old Lee to build his track record before passing the mantle on to the next generation.
A spokesman at Samsung declined to comment on Monday's reshuffle.
The Harvard Business School graduate, who joined the company in 1991 and was promoted to his current post in 2007, was recently reassigned to the company's overseas operations in the wake of a parliament-ordered corruption probe against the group last year.
His 69-year-old father stepped down in April last year shortly before he was convicted of tax evasion and sentenced to a three-year-suspended jail term.
Last week, Samsung Electronics announced a large-scale restructuring scheme that calls for the company to combine its four business divisions into two major groups, in a move intended to fight off the looming global economic recession.
Under the reshuffle, Samsung Electronics consolidated its semiconductor and liquid-crystal display units into the Device Solution division. The company also combined its mobile phone and consumer electronics units into the Digital Media and Communications
division.
On Monday, Samsung promoted a total of 247 executive-level officials at its affiliates, including 91 executives at Samsung Electronics. Overall, the group cut 10 percent of its roughly 1,600 executive jobs.
"The number of executives promoted this year was cut by 22 percent from last year to ensure the company copes with the worsening business conditions, which are set to continue for the time being," Samsung Electronics said in a statement.
Samsung Electronics is also the world's largest maker of liquid-crystal displays. The company ranks second in the world in global handset production, behind Finland's Nokia Corp.
The Samsung Group, which accounts for roughly 20 percent of South Korean exports, has 59 affiliates and employs some 250,000 workers worldwide.
서울=뉴시스】
<다음은 이명박 대통령이 19일 단행한 국무위원 및 장•차관급 인사 명단>
◇국무위원 후보자
▲기획재정부 장관= 윤증현 전 금융감독위원장
▲통일부 장관= 현인택 고려대 정치외교학과 교수
◇장관급 내정자
▲국무총리 실장= 권태신 국무총리실 사무차장
▲금융위원장= 진동수 한국수출입은행장
◇대통령실 수석비서관 내정자
▲경제수석비서관= 윤진식 한국투자금융지주 회장
◇차관 내정자
▲기획재정부 1차관= 허경욱 대통령실 국책과제비서관
▲교육과학기술부 1차관= 이주호 KDI 국제정책대학원 교수
▲교육과학기술부 2차관= 김중현 연세대 화동생명공학과 교수
▲법무부 차관= 이귀남 대구고등검찰청 검사장
▲행정안전부 1차관= 정창섭 행정안전부 차관보
▲행정안전부 2차관= 강병규 행정안전부 소청심사위원장
▲지식경제부 2차관= 안철식 지식경제부 에너지자원실장
▲여성부 차관= 진영곤 보건복지가족부 사회복지정책실장
▲국토해양부 2차관= 최장현 한국컨테이너부두공단 이사장
◇차관급 내정자
▲방위사업청장= 변무근 전 해군교육사령관
▲기상청장= 전병성 대통령실 환경비서관
▲국무총리실 국무차장= 박영준 전 대통령실 기획조정비서관
▲국무총리실 사무차장= 조원동 국무총리실 국정운영실장
▲소청심사위원장= 최민호 행정안전부 인사실장
정리=김선주기자 saki@newsis.com
<저작권자ⓒ '한국언론 뉴스허브' 뉴시스통신사. 무단전재-재배포 금지.>
President reshuffles ministers
* Changes finance minister and top regulator
* Markets show little reaction to reshuffle (Updates with announcement of changes)
By Yoo Choonsik
SEOUL, Jan 19 (Reuters) - South Korea's unpopular president replaced his finance minister and top regulator on Monday to counter criticism over the administration's handling of an economy slipping closer to recession.
Yoon Jeung-hyun, 62, who headed the country's top financial regulatory agency until last year following time at the Asian Development Bank, replaces Kang Man-soo as the Minister of Strategy and Finance.
Former vice finance minister Chin Dong-soo replaces Jun Kwang-woo as the chairman of the Financial Services Commission, the presidential Blue House said in a statement.
Seoul financial markets showed little reaction to the cabinet reshuffle.
South Korea's policy makers have scrambled to fend off the global financial storm that blew up in September last year with the collapse of Lehman Brothers.
Market liquidity has tightened and economic growth in Asia's fourth-largest economy has slumped along with that of its neighbours.
President Lee Myung-bak enters his second year in office next month and has been widely criticised for failing to do more to lift the economy after winning majority support in the 2007 election partly on a platform of economic reform.
Some economists, such as Oh Suk-tae at Citigroup, doubted a few new people could do much to fight a crisis that began overseas, while others, including Lim Ji-won at JPMorgan Chase, welcomed Yoon's appointment, which was flagged in media reports.
"I think this is positive in a general sense," Lim said, whose comments were made after the media reports and before the official announcement.
"Mr Yoon has a good reputation for his sense of financial sectors and international relations as well as his strong leadership," Lim said.
President Lee Myung-bak also named as his Unification Minister an academic who is considered the architect of the administration's hardline policy on the communist North.
Hyun In-taek, a professor at Korea University, aided Lee in drawing up the policy calling on the North to abandon its nuclear arms ambitions and open up to the international community in return for massive economic aid.
In other changes, Kwon Tae-shin, former vice finance minister, was appointed head of the prime minister's office and Yoon Jin-sik, a former commerce minister and vice finance minister, was appointed chief presidential secretary on the economy.
The changes come as President Lee has seen his approval rating hover barely above 20 percent as the economy slides closer towards recession.
The central bank has forecast 2009 economic growth at 2 percent, but an increasing number of global investment banks are predicting the economy would contract for the first time in 11 years, by as much as 3 percent.
Underlying the gloomy economy, central bank data on Monday showed that the ratio of business start-ups to failures hovered near a four-year low in December while debt defaults hit a seven-month low in the same month.
On a broader front, the Seoul Economic Daily reported China, Japan and South Korea had agreed with the 10-member Association of Southeast Asian Nations (ASEAN) to boost the size of a proposed emergency fund to fight financial crises to $120 billion from an originally planned $80 billion. (Editing by Jonathan Thatcher)
South Korea Dec debt default ratio at 7-mth high
179 words
19 January 2009
3:00 AM GMT
Reuters News
English
(c) 2009 Reuters Limited
SEOUL, Jan 19 (Reuters) - South Korea's overall debt default ratio rose to a seven-month high in December, while the ratio of business start-ups to failures hovered near a 4-year low, central bank data showed on Monday.
The debt default ratio, which represents the percentage of defaults against total commercial debt and corporate bonds issued from settlement, was 0.04 percent in December, the highest level since May last year, the Bank of Korea data showed.
The reading was up from 0.03 percent in November amid growing fears that Asia's fourth-largest economy may face its first recession in a decade.
The central bank said separately that South Korea's business start-up/failure ratio in December slightly improved to 16.4 from November's 16.2, which was the lowest since it touched 14.9 in December 2004. (Reporting by Seo Eun-kyung; Editing by Jonathan Hopfner and Keiron Henderson)
KOREA-ECONOMY/DEFAULT (URGENT)|LANGEN|ABN|M|E|RBN|D
Document LBA0000020090119e51j0004g
• It is certain that she will join the Cabinet as Minister of Gender Equality. (출처: 동아 프라임 한영사전)
그녀는 여성부 장관으로 입각이 확실하다
• While rival parties are mindful of the political implications of such practices and busy calculating whether figures joining the Cabinet serve their own political interests, many political analysts say this is not something that can be said to be good or bad. (출처: The Korea Herald)
경쟁 정당들은 이런 관행이 정치적으로 미칠 영향에 신경을 기울이며 입각 인사들이 자기 당에 정치적으로 이익이 될 지 여부를 계산하느라 바쁜 반면에 정치 분석가들은 이 문제가 좋다 나쁘다 할 사안이 아니라고 말하고 있다.
• But Kim has adopted a very cautious attitude to the proposal. (출처: The Korea Herald)
그러나 김 의원은 입각 제안에 매우 신중한 태도를 보이고 있다.
• If he accepts, he may be appointed unification minister, political observers said. (출처: The Korea Herald)
그가 입각 권유를 수용할 경우 그는 통일부 장관으로 임명될 가능성이 높다고 정치 전문가들은 말했다.
• Also, having seen a highly publicized conflict between party leaders over cabinet posts and a power struggle among rival groups with different backgrounds and ideologies, many swing voters seem to have turned their backs on Uri or opted not to go to the polls. (출처: The Korea Herald)
게다가 입각과 관련하여 당 지도부의 갈등이 널리 알려지고 출신과 이념을 달리하는 계파간의 권력 투쟁을 지켜본 많은 유권자들이 우리당에 등을 돌렸거나 투표를 하지 않기로 마음 먹은 것 같다.
• Though some media reported I already agreed to President Roh`s proposal, nothing has been decided, yet, he told The Korea Herald. (출처: The Korea Herald)
일부 언론은 제가 노 대통령의 입각 제안에 이미 동의했다고 보도했지만 아직 결정된 건 아무 것도 없습니다”라고 김 의원은 코리아헤럴드와의 인터뷰에서 말했다.
• But these reports about prominent Uri leaders possibly entering the Cabinet after Roh returns to office has left many dejected, giving the impression that the government is trying to reward Uri members for their contribution to the electoral success with no consideration about the nominees` expertise and administrative experience. (출처: The Korea Herald)
그러나 노 대통령이 복직된 후 열린우리당 지도부의 입각 보도는 많은 이들을 실망시키고 있다.
• Attention is now focused on when the resigned Chung and former floor leader Kim Geun-tae will take government seats and in which ministries. (출처: The Korea Herald)
이제 관심의 초점은 사퇴한 정 의장과 김근태 전 원내대표의 입각 시기와 맡게될 보직에 쏠려 있다.
• All eyes are now on Kim to see whether he will take up President Roh Moo-hyun`s offer to enter the cabinet. (출처: The Korea Herald)
노무현 대통령의 입각 권유를 받아들일 것인지 여부를 놓고 현재 모든 시선이 김 의원에 집중되어 있다.
• But Roh`s reported decision to ask Goh to recommend candidates for the Cabinet has met severe criticism from opponents, who said the move was irrational in that Goh had already offered to resign and Roh had agreed to it. (출처: The Korea Herald)
하지만 노 대통령이 고건 총리에게 입각 대상자 추천을 부탁하기로 했다는 보도가 나오자 이미 고건 총리가 사퇴의사를 밝혔고 노 대통령이 이를 수락한 후의 그런 처사는 부당하다는 반대파의 거센 비난에 부닥치고 있다.
• (Party officials) decided to postpone the dinner until a new party leadership is formed to replace Chairman Chung Sye-kyun, who will resign soon to enter the Cabinet, said party spokesperson Rep. Jun Byung-hun. (출처: The Korea Herald)
“(당 관계자들은) 입각을 위해 곧 사퇴할 정세균 의장을 대신할 새 지도부가 구성될 때까지 만찬을 연기하기로 했다”고 전병헌 대변인이 말했다.
• Uri Party Chairman Chung Dong-young, who helped Uri navigate successfully through last month`s elections to become the majority party, resigned from his post yesterday, increasing the likelihood that he would enter the Cabinet. (출처: The Korea Herald)
지난 달 총선에서 우리당이 다수당으로 부상하는 데 큰 역할을 담당했던 정동영 의장이 어제 당의장 직에서 사퇴함으로써 그의 입각 가능성에 대한 기대가 높아지고 있다.
• The MDP made over the past week a series of accusations that Cheong Wa Dae allegedly offered posts to a number of former and incumbent MDP lawmakers, although it was vehemently denied by the Blue House. (출처: The Korea Herald)
민주당은 청와대의 강력한 부인에도 불구하고 지난 주에 청와대가 여러 전,현직 민주당 의원에게 입각을 권했다고 여러 차례 비난했다.
• To a question on a recent fissure between Cheong Wa Dae and the ruling Uri Party over the designation of radical lawmaker Rhyu Si-min as the new health minister, Roh rebuked the criticisms against his choice and instead said he regretted having hesitated in finalizing the appointment. (출처: The Korea Herald)
유시민 의원 입각 파문을 둘러싼 최근 당청간 갈등에 관한 질문에 대해 노 대통령은 바로 임명했으면 될텐데 임명을 유보했던 것이 문제를 크게 만들었다고 말했다.
• Many more Uri names are being broached as potential ministers, including political heavyweights who lost their election bids in the GNP`s stronghold southeastern region such as former Rep. Kim Jung-kil. (출처: The Korea Herald)
김정길 전 의원처럼 한나라당의 아성인 경상도에서 이번 총선에 고배를 마신 중진 정치인 등 많은 우리당 소속 인사들의 입각 이야기가 입에 오르내리고 있다.
• The majority of Uri lawmakers were dismayed after Roh overrode their strong objection to the outspoken lawmaker`s entry to the Cabinet. (출처: The Korea Herald)
우리당 의원 대다수는 노 대통령이 노골적인 의원의 입각에 대한 자신들의 강력한 반대를 무시한 데 대해 낙심했다.
• I can`t find any rational reason behind their vocal opposition (to Rep. Rhyu`s entry to the Cabinet), said Rep. Lee Hwa-young, a first-tem lawmaker. (출처: The Korea Herald)
(유 의원의 입각에 대한) 그들이 반대하는 합리적인 근거를 찾을 수가 없다”고 이화영 초선의원이 말했다.
• Laws should be enacted from the standpoint of individual dignity. (출처: 동아 프라임 한영사전)
법률은 개개인의 존엄성에 입각하여 제정되어야 한다
• A weak pull for foreign investors is weighing heavily on Korea`s goal to achieve a $20,000 per capita national income, the nation`s deputy finance minister said yesterday. (출처: The Korea Herald)
외국인직접투자의 증가세 둔화가 정부의 국민소득 2만불 달성 목표에 큰 부담 요인이 되고 있다고 재정경제부 차관보가 어제 말했다.
• Yesterday, Deputy Finance Minister Kim Seok-dong forecast that the economy will grow 3 percent during the second quarter of the year. (출처: The Korea Herald)
어제 김석동 재경부 차관보는 경제가 올 2분기에 3퍼센트 성장할 것으로 전망했다.
• The government will pursue deregulation during the first half of next year in hopes to pass it before the end of the year, said deputy finance minister Kim Seok-dong in a briefing yesterday. (출처: The Korea Herald)
“정부는 내년말까지 국회통과를 목표로 내년 상반기 중에 보험업종 규제완화를 추진해 나갈 것이다”라고 김석동 재경부 차관보는 어제 정례브리핑에서 말했다.
• The deputy finance minister stressed, however, that the deregulation is unlikely to trigger overheated competition in the market as the basic regulatory framework will remain in place. (출처: The Korea Herald)
그러나 김 차관보는 기본적인 규제의 틀은 계속 유지될 것이므로 규제완화로 인해 보험시장 내 과열경쟁이 촉발될 가능성은 매우 낮다고 강조했다.
• We need to have more golf courses for our economy, said Bahk Byong-won, deputy finance minister, who has been in charge of the whole idea of deregulating golf-course construction over the past three years. (출처: The Korea Herald)
과거 3년간 골프장 건립 규제완화 방안의 책임을 맡아온 박병원 재경부 차관보는 “우리는 경제를 위해 보다 많은 골프장을 건설할 필요가 있다”고 말했다.
• Until the prime minister designate goes through a parliamentary confirmation hearing and vote, Deputy Prime Minister and Finance Minister Lee Hun-jai will be acting prime minister. (출처: The Korea Herald)
국무총리 지명자가 국회 청문회와 표결을 거칠 때까지는 이헌재 부총리 겸 재정경제부 장관이 국무총리 대행을 맡게 된다.
• And we have to remind ourselves that while the economy is headed upwards, more growth impetus is crucial for achieving the potential growth rate, said the finance minister who doubles as deputy prime minister. (출처: The Korea Herald)
그리고 경제가 상승 추세를 타는 경우 잠재성장률 달성을 위해 보다 강력한 성장 모멘텀을 가하는 게 중요하다는 점을 염두에 두어야 한다”고 한 재경부 장관 겸 부총리는 말했다.
• Kim said the office will not launch an investigation into the case, saying it dealt with the accusations when he was screened before being appointed deputy prime minister and the finance-economy minister. (출처: The Korea Herald)
김 대변인은 부총리와 재정경제부 장관에 임명되기 이전에 그러한 의혹을 이미 다루었기 때문에 청와대가 이번 사안을 조사하지 않을 거라고 말했다.
• Finance Minister Han Duck-soo, who is also deputy prime minister, is known for his commitment to stabilizing real estate prices that have surged in the wake of widespread speculation. (출처: The Korea Herald)
한덕수 재경부 장관 겸 부총리는 확산된 투기 이후 폭등한 부동산 가격 안정을 위한 약속으로 알려져 있다.
• Finance Minister Han Duck-soo, who doubles as the deputy prime minister, made it clear of his dilemma during a speech he made last week. (출처: The Korea Herald)
한덕수 재경부 부총리 겸 장관은 지난 주 발표에서 자신의 딜레마를 분명히 했다.
• Former finance minister Lee Hun-jai is likely to replace Deputy Prime Minister Kim Jin-pyo, who is also expected to run under the Uri banner for the National Assembly, the sources said. (출처: The Korea Herald)
이헌재 전 재정경제부 장관은 이번 총선에 우리당 후보로 출마할 김진표 경제 부총리의 후임자로 임명될 가능성이 높다고 소식통은 말했다.
• At a banking event in Madrid, Deputy Finance Minister Dimitri Gvindadze of Georgia said his country's economy was holding up despite the tension. (출처: Herald Tribune)
• The South Korean deputy finance minister, Kim Seok Dong, said last week that he did not rule out foreign buyers taking over Korea Exchange. (출처: Herald Tribune)
• A Japanese deputy finance minister, Hiroki Tsuda, said Thursday that Japan must very carefully consider the establishment of a sovereign wealth fund. (출처: Herald Tribune)
• Germany is still hoping to win backing for its deputy finance minister, Caio Koch-Weser, to succeed Mr Camdessus. (출처: The Independent)
• In 1906, he was appointed deputy finance minister and mainly oversaw taxation affairs. (출처: Wikipedia)
• Soon afterward, he was promoted to the post of deputy finance minister; but he declined, on pretext that he had no ability to manage finance. (출처: Wikipedia)
• Deputy Finance Minister Sergei Storchak estimates it will reach 600-700 billion rubles by February 1, 2008. (출처: Wikipedia)
• Naoyuki Shinohara, Japan's deputy finance minister for international affairs, warned before the meeting that any funds would have to be used responsibly. (출처: Herald Tribune)
• Among the dead were nine civilians in Karada, a mixed neighborhood in central Baghdad, when a car bomber rammed a convoy carrying Iraq's deputy finance minister. (출처: Herald Tribune)
'Finance Minister Will Stay'
Kang Man-soo
Finance Minister
By Jung Sung-ki
Staff Reporter
Cheong Wa Dae Friday dismissed a report that the Strategy and Finance Minister would offer to resign soon.
``The report is not the case,'' presidential spokesman Lee Dong-kwan told reporters. ``We've called Kang to confirm the report's authenticity, but he said it's not true.''
The Ministry of Strategy and Finance said it will ask the media company concerned to correct the report, or it will take legal action against the firm.
Earlier, the Dong-A Ilbo newspaper quoted unidentified government sources as reporting that Kang made his decision to tender his resignation this month before a possible Cabinet reshuffle slated for as early as next month.
President Lee Myung-bak virtually accepted Kang's resignation and ``proposed'' that Kang take over another post, said the newspaper.
Despite repeated denials, local media has speculated that Kang is expected to be replaced in the forthcoming reshuffle.
Yoon Jeung-hyun, a former chairman of the Financial Supervisory Commission, is referred to as a viable candidate to replace Kang, reports said.
Other candidates include Yoon Jin-shik, a former minister of commerce, industry and energy, and Chin Dong-soo, chairman of the Export-Import Bank of Korea.
Kang has been under pressure to step down for what critics see as his misguided and inconsistent economic policies.
He has been sticking to high growth rate, boosting exports and controlling the foreign exchange rate. Critics are, in particular, harsh on Kang's foreign exchange policy.
The minister initially advocated a weak won policy to boost exports. But it only added to inflationary pressure as the global economy was suffering from record-breaking oil prices at the time.
He then switched to a strong won policy to pull down an already too high won/dollar rate.
Since the reshuffled list of nominees does not include single one of ruling party members, ruling party members evaluate this reshuffle as ‘a regrettable shakeup without taking a party’s unity into consideration’.
Lee Dong kwan, presidential spokesman, was quoted as saying, “President Lee said since this shakeup was done in the economy ministries, ruling party members are not included in this reshuffle, but he will take that into consideration in the next reshuffle.”
Park hee-tae, head of the ruling Grand National Party said, “I was hoping that our party members was able to join a Cabinet and I did make a suggestion about this to president Lee but since this reshuffle was centered on the economy ministries and done in a small scale, president Lee said it is difficult to do this time even though he agrees on what I suggested.
Head of the ruling Grand National Party, Park Hee-tae received the reshuffle list in the middle of the meeting and voiced a strong discontent about this by saying ‘How can these reshuffle nominees be reported unilaterally without conducting a consultation with the ruling party,” and “The presidential secretaries should come and The parliamentary confirmation hearing
One of the ruling party members voiced concern by saying, “There are a number of people who are discontent with this reshuffle,” and “If president Lee excludes the ruling party members in another additional shakeup, the intense resistance will be followed.”
