Flor's living in South Korea

50,000 Won Bill to be Issued in June

noreply@blogger.com (flor's blog) — Wed, 20 May 2009 05:01:00 +0000

The new 50,000-won bill is to be issued on June 24.

The new banknote will be 154 millimeters in width and 68 millimeters in length.

The yellow-toned currency will feature Shin Saim-dang, a renowned female writer and calligraphist who was the mother of Yulgok. Yulgok is currently featured on the 5,000-won banknote and was one of the most respected scholars of the Joseon Kingdom (1392-1910).

Once in circulation, the note is expected to make a positive impact in day-to-day transactions. Currently, the 10,000-won bill is the highest-denomination.

Why print a new currency?

A common complaint has been that people have to carry too many bills. Though 100,000-won checks have been used as substitutes for high-denominated bank notes, they incur issuance fees and have proven inconvenient.

Banks will upgrade or replace automated teller machines (ATMs) so that they accept the new bills. It will cost over 30 million won each to replace old ATMs and over six million won to upgrade them.

Department stores are also likely to be affected. Gift coupons have been popular items as gifts. But with the new 50,000-won bills, it has been suggested that most people will choose to use them instead of department store coupons.

Economic Downturn Corks Wine Popularity

noreply@blogger.com (flor's blog) — Tue, 28 Apr 2009 03:53:00 +0000

Koreans love wine. Not just ordinary or cheap wine BUT EXPENSIVE WINE. But now, bottles of fine "vino" are being marked down on everything-must-go sales.

Why?

The economic downturn is the main reason. Sales are declining because people tend to turn to more economic choices.

Shinsegae, Lotte and Hyundai, the country's top three department stores that each run a sizeable wine shop, said that wine sales from January to March have sunk about 5 percent on-year.

This is a sharp turnaround compared to the solid two-digit growth the largely imported products have been showing over the past three years.

Moon Jae-yong, manager of the wine shop at Lotte Depaartment Store, explained that the weak Korean won has driven up prices by almost 25 percent this year alone, pushing away even consumers who've enjoyed the less-expensive selections.

And the ongoing sales decline is piling up inventory ― so much that retailers are offering discounts of up to 90 percent.

Lotte recently introduced 600 different types of wines from around the world at prices 35 to 80 percent cheaper than usual. Even the most high-end labels from France were marked down by 50 percent.

Lotte's competitors Shinsegae and Hyundai seem to have deployed the same trick, as they too slashed prices dramatically.

But despite the blowout bargains, consumers don't seem to be excited about popping the cork.

Such consumer patterns of avoiding wine bars have led dozens of once popular wine bars to go out of business in downtown Seoul districts.

eBay Inc. Signs Deal to Buy Gmarket

noreply@blogger.com (flor's blog) — Fri, 17 Apr 2009 02:51:00 +0000

eBay Inc. already owns Internet Auction Co. Now, it is going to buy Gmarket, the biggest Korean online retailer.

eBay Inc. signed a deal Thursday to buy a 34.21 percent stake in Gmarket Inc., for $413 million, Yonhap News reported Thursday.

The deal calls for eBay, the world's largest Web auctioneer, to buy the stake from Interpark Corp., which runs a separate online mall, and its chief executive officer, the sources said.

eBay's South Korean unit, Internet Auction Co., has been competing with Gmarket, its bigger South Korean rival. Gmarket's sales reached 3.98 trillion won ($3.02 billion) last year.

The two companies account for about 90 percent of online shopping in South Korea, and have a combined total of more than 15.4 million registered users.

eBay has reportedly been in talks with Interpark to buy an interest in Gmarket since August 2008, when it filed for approval from the South Korean government for the deal. eBay got the nod a month later.

Foreigners Obliged to Provide Fingerprints from H2 2009

noreply@blogger.com (flor's blog) — Tue, 07 Apr 2009 02:51:00 +0000

Beginning the latter half next year, foreign visitors aged over 17 should mandatorily provide their fingerprints and facial pictures to the Korean government.

The Ministry of Justice announced the new legislation on the revised bill ‘Immigration Control Law & Relevant Rules’ which contains such contents.

Under the revised bill, the government newly made a clause on ‘fingerprint information collection’, and stipulated: “Foreigners should offer fingerprint and facial information during the immigration screening procedure.”

But, foreigners aged below 17 or visiting for the purposes of diplomacy and public affairs have been ruled out from the subjects to providing physical information.

Foreigners refusing to offer physical information will be disadvantageous during an immigration approval process.

The government had previously collected fingerprints of foreigners residing in Korea for a long-period (for more than a year), but abolished such a policy in 2003.

With illegal foreign residents and foreigners’ crimes rapidly increasing, the government revived the fingerprint collection policy in six years.

The government plans to tender the revised bill to the National Assembly upon undergoing discussion in the Cabinet meeting to be hold at the month-end at the earliest.

Marketers Target 'Mom-Bloggers'

noreply@blogger.com (flor's blog) — Tue, 24 Mar 2009 01:33:00 +0000

Consumer electronics companies are trying harder to create relationships with bloggers to generate a buzz about their products, which has some tech-savvy housewives sitting on snowy piles of freebies.

These marketing campaigns are a growing breed as blogs become increasingly embraced as marketing tools by companies, although there are questions over whether online product reviews can be relevant and credible when the authors are at the receiving end of targeted perks or payments.

Sony Korea recently gave the latest models of its Alpha DSLR (digital single-lens reflex) camera series to nine ``alpha moms'' in exchange for a promised number of columns on their blogs.

The selected women, aged between 30 to 35 and most of them the mother of one or two children, all have established reputations in the blogosphere, gaining large readerships for their writing about children, cooking, traveling and electronic gadgets. One of the bloggers picked by Sony gets more than 4,000 daily visitors to her blog, the company said.

Aside from posting reviews and photos taken from the cameras on their blogs, the bloggers will take classes from professional photographers and participate in a photo competition, while also presenting ideas for product improvement to company officials.

Samsung Electronics, the country's largest electronics maker, is also looking at more ways to use bloggers for word-of-mouth marketing.

Earlier this year, Samsung picked 50 bloggers to use the latest version of its Zipel refrigerators, selecting them based on the popularity of their blogs and previous postings on the Web community of Zipel users (http://cafe.naver.com/zipelier), which is managed by the company.

The bloggers will provide Samsung with their product reviews and also write on their blogs and the Zipel Web community, which has more than 5,200 members, company officials said.

Samsung pushed a similar marketing scheme for its Hauzen washing machines last year, picking 100 bloggers to write product reviews.

LG Electronics has been regularly selecting groups of bloggers to test the new products of its Dios microwave ovens since last year.

The bloggers are selected from the Dios Web community (http://cafe.naver.com/ovenwon), which has about 11,000 members. The company also uses bloggers to promote its kimchi refrigerators and washing machines.

LG recently also recently launched its official blog (http://blog.lge.com), which features writing from 10 of the company's product designers and allows Internet users to post opinions about the products.

"The product reviews of `power bloggers' are very influential on consumers planning to spend on a product, due to their objectiveness, and their opinions are also important for companies in developing products and marketing them," said a Samsung executive, stressing that the use of bloggers provides a cost-effective marketing tool.

However, there are also questions over whether ethical thresholds have been crossed as the lines blur between genuine postings and paid advertisements.

Earlier this year, Web-based media company, Tatter & Media (TNM), found itself engulfed in a controversy for connecting a group of popular bloggers with Samsung to review their latest mobile phones, some of them costing nearly one million won (about $718) on the shelves at the time.

CJ Home Shopping to Penetrate into Indian Market

noreply@blogger.com (flor's blog) — Mon, 23 Mar 2009 04:00:00 +0000

CJ Home Shopping, a cable-television shopping channel operator, will be the first domestic retailer to break into the Indian market, one of the four largest emerging economies called BRICs (Brazil, Russia, India and China), by joining hands with Satellite Television for the Asian Region (STAR), Asia’s largest media network.

CJ Home Shopping disclosed on March 20 that the company concluded a contract to establish Star-CJ Network (SCN), a joint-venture between CJ Home Shopping and Star.

SCN will begin its service starting in the latter half of this year, running a 24 hour service identical to that of a Korean home shopping channel with programs presenting the products and a call center that receives orders and answers product inquiries and a delivery service to the door-step.

The company highlights the significance of being the first Korean home shopping brand to the Indian market with a population of 1.1 billion following its advancement into the Chinese market.

CJ Home Shopping explains that the company was able to achieve its entries into the Chinese and Indian market by putting utmost efforts in pursuing globalization to acquire new growth engines amid a deteriorating domestic market due to a sharp fall in the number of cable television subscribers.

Hypermarkets Out, Mom and Pops In

noreply@blogger.com (flor's blog) — Thu, 19 Mar 2009 02:03:00 +0000

Are the once-almighty hypermarkets starting to fizzle out?

Sales at the country's major discount outlets sunk last month by more than 20 percent on-year, according to a government report, Tuesday, and industry forecasts show that the local hypermart business will see slower growth this year due to market saturation and dampened consumer sentiment.

Cushman & Wakefield, a global commercial property brokerage, said in its recent report that consumers are starting to purchase basic necessities such as food in small amounts at neighborhood markets instead of big stores.

``Shoppers are noticing that frequenting the large have-it-all outlets often leads to unnecessary, impulse purchases,'' said Kristin Kim, manager of retail services at C&W. ``More money-conscious people are looking for closer and quicker shopping.''

So what's next for mammoth retailers like Shinsegae E-Mart, Lotte Mart and Homeplus? A cozier consumer approach, apparently.

These giant operators that have so far been running stores that are two to three times the size of a soccer field are turning their eyes to smaller and more neighborly grocery stores to attract consumers who prefer hassle-free shopping.

Dubbed ``super super market'' (SSM), the mom-and-pop-like outlets have slowly been showing up across the country. Homeplus currently runs 107 express shops, while Lotte Mart and GS Retail operate 108 and 107 nationwide, respectively.

A mom and pop store is defined as a small business that is independently owned and operated, with a small number of employees and relatively low volume of sales.

The early starters have demonstrated that the scaled-down stores may be a good way out of the slump, as Homeplus and Lotte Mart reaped sales worth 400 billion won and 850 billion won each last year from their new businesses.

However, the alliance of mom-and-pop stores isn't happy with mega-retailer intrusion.

``They killed us once already with their huge outlets, but they want to do it again,'' said Kim Kyung-bae, the head of the Korea Supermarket Alliance (KOSA), who stressed that independent stores owners are going to vanish within the next three years if giant retailers bulldoze their way in.

``They're not melting into the community as they put it nicely,'' he said. ``They're stealing other people's livelihoods.''

Obama Lauds Korea's Education of Children

noreply@blogger.com (flor's blog) — Thu, 12 Mar 2009 04:59:00 +0000

U.S. President Barack Obama Tuesday called for the United States to look to South Korea in adopting longer school days and after-school programs for American children to help them survive in an era of keen global competition, according to the Yonhap News Agency Wednesday.

"Our children spend over a month less in school than children in South Korea every year," Obama told a gathering at the U.S. Hispanic Chamber of Commerce here. "That is no way to prepare them for a 21st-century economy.

"Obama made the remarks while emphasizing the need for sweeping reform of the U.S. education system for which he earmarked $41 billion out of the $787 billion stimulus package to cope with the worst recession in decades.

"The U.S. president called for Americans "not only to expand effective after-school programs but to rethink the school day to incorporate more time, whether it's during the summer or through expanded-day programs for children who need it." Obama's remarks came as a surprise to many South Koreans as the country's education system has been under constant public criticism due to its lack of creativity and heavy dependence on private tutoring.

Korean parents spend a lot of money on their children's education. Aside from the regular school, they also spend for afterschool programs (or cram schools, called hagwon in korean) for various subjects such as english, math, science, the arts and the languages. One student may end up going to three hagwons in a week.

Whitening products target consumers

noreply@blogger.com (flor's blog) — Thu, 12 Mar 2009 02:41:00 +0000

Kim Ji-sun, 26, an office worker, rearranged her dressing table for the coming spring over the weekend.

Putting aside the rich winter moisturizers, she replaced them with whitening skincare products and a sunscreen SPF 50/PA+++.

"Spring is the season for brighter skin and make-up. I think it`s about time that I start preparing for the upcoming season," said Kim.

Because of the ultraviolet rays that start to get stronger in spring, makeup experts advise people to start protecting their skin starting now.

For beauty-conscious Korean women, skin whitening is serious business. The fad is easily noticed when taking a look at the first floors of major department stores where most cosmetics shops are located. Both local and foreign cosmetic makers are promoting whitening skincare lines exclusively for the Asian market and it is easy to spot women shopping for such products.

Fair skin has long been considered one of the most admired beauty features among Asian women, and especially Koreans.

In contrast with many Western cultures, where darker, tanned skin is often thought more attractive, Korean women will go to great ends to get fair skin.

"Fair skin is not only just a matter of color. I think it represents wealth or higher social status here, to a degree," said Park Jung-eun, 24, a college student.

In fact, Korean women tend to be more concerned with cosmetics than those in other countries in general - the Korean cosmetics market ranked 12th in the world last year, according to the Ministry for Health, Welfare and Family Affairs. It is not unusual for them to apply seven to eight products for their day and night care.

"I guess most Korean women, including myself, wouldn`t mind spending money to have spotless fair skin," Park added.

Foreign brands are well aware of this preference.

"Korea is one of the biggest markets for Estee Lauder`s products, including the whitening line, along with China and Japan," said an Estee Lauder spokesperson.

Estee Lauder has recently unveiled their new Cyber White EX 2009 line. The sunscreen, Extra Intensive UV Protector SPF 50/PA+++, protects skin from ultraviolet lights while getting rid of preventing spots. Extra Intensive Illuminating Mask and Spot Corrector are also intended to make the skin fairer without being excessively strong, a spokesperson said.

On the more affordable side, consumers can try local brand The Faceshop`s MyeongHan Miindo whitening line furnished with products from Spot Cream to powder foundation, Two-way Cake SPF 35/PA+++.

The products, made of fermented traditional Oriental medicine, are getting positive responses from consumers, according to a company spokesperson.

"Since the sunscreen`s effect only lasts for a limited time, it is important that consumers also retouch their make-up with a powder foundation with sunscreen," said the spokesperson.

Experts advise that along with the use of whitening products, everyday habits - such as taking vitamin C, drinking water and regularly exfoliating - are important in keeping bright and healthy skin.

Hanjin’s Subic Project: Case of Labor Abuse?

noreply@blogger.com (flor's blog) — Thu, 12 Mar 2009 02:38:00 +0000

Hanjin Heavy CEO Cho Nam-ho

Hanjin Heavy Industries has helped significantly improve living conditions in the coastal Subic town in the Philippines over the past three years with bold investments in building its massive shipyard. But there is little co-celebration, as the development that claimed the lives of 19 local workers has left more of a bitter resentment in the community.

A total of 19 workers died in 17 accidents since 2006 at the Hanjin Heavy Industries' shipyard inside the Subic Bay Freeport zone, northwest of Manila, prompting a Senate to finally investigate the worksite last month to determine who was at fault.

Local labor groups and opposition political parties claim that the Korean firm is responsible for exploiting locals under dangerous working environments, but Hanjin officials have been trying to dodge the blame.

The country's labor department said that as of Feb. 20, some 30 of the 55 Hanjin subcontractors had been inspected and found to have violated 11 general labor standards and 10 occupational safety and health standards, according to local news reports.

The data also showed that Hanjin, which currently employs more than 16,000 locals, has underpaid its workers, cost-of-living allowances, overtime and holiday wages. Laborers were also not given proper safety gear such as gas masks or goggles while on duty.

Most of the deaths were caused by getting hit by falling objects, Philippine authorities said.

The workplace, which has churned out orders for 42 vessels, bulk carriers and oil tankers so far, is so life-threatening that one congressman labeled it as becoming a "graveyard."

But Hanjin officials brushed off the allegations, claiming that the accidents and deaths resulted from the workers' not having taken safety precautions.

"We did what we can do ensure the highest level of safety at the site," said a company spokesman, who declined to be named. "We do admit our fault as an employer, but we shouldn't be blamed solely."

He stressed that the Korean shipbuilder has fully compensated the families for the fatalities, regretting that the dispute is now getting politicized.

"The only thing we can do is continue to enforce safety training, but these efforts are meaningless if laborers behave irresponsibly at the site," said the official. "We're professional and we understand and uphold the highest standards."

Hanjin's Subic facility was built due to capacity constraints in Korea, and it is currently building its second shipyard in the southern Philippines, which is set for completion in 2017.

E-2 Visa Holders Can Teach at Firms Legally

noreply@blogger.com (flor's blog) — Wed, 11 Mar 2009 03:19:00 +0000

E-2 visa holders will be able to open English classes at corporations and government offices, the Anti-Corruption and Civil Rights Commission (ACRC) announced, Tuesday.

Its spokesman said that the regulations that discourage companies and government organizations from staging English classes in their own buildings will be eased.

Under the current law, E-2 visa holders, eligible for teaching a foreign language, cannot teach at corporations and government offices unless they work full time.

Even organizations with an excellent education environment, such as the Incheon International Airport Corp. and the National Assembly Research and Training Institute, have been reluctant to hire full-time E-2 visa holders, due to high costs and the lack of experience in language teaching.

Currently, the law prohibits organizations from hiring teachers on a short-term basis or outsourcing language education from private academies,

However, a director of an English-language academy in Seoul said on condition of anonymity that many private academies and brokers have long been providing English teachers to companies, with some of them not even aware that the practice has been illegal.

"Frankly, we have never told them about the regulation unless they ask. Unfortunately, we have had no other way of providing the education they need in this era of globalization," the director said.

On the plan to amend the regulation, Kim Dong-il, a senior official at the Council for Foreign Language Education, expressed his deep appreciation.

"I'm glad to hear that the government is finally making efforts to address the problem," Kim said. "This will enhance transparency and make private-language academies compete in order to provide a more competitive and better curriculum and teachers for businesses or government bodies."

An ACRC official said the commission will continue efforts to help improve the English education system in Korea.

As of April 2008, there were 18,029 foreign-language teachers in Korea and English-language teachers accounted for 16,751, or 92.7 percent.

Forty percent of foreign-language teachers are from the United States, 29.4 percent from Canada and 9.3 percent from Britain. Others include those from South American (4.1 percent), Australia (3.9 percent) and New Zealand (3.8 percent).

Kara - Honey

noreply@blogger.com (flor's blog) — Fri, 06 Mar 2009 04:16:00 +0000

They debuted as a 4-member girl group on March 29, 2007 with "Break It" on M! Countdown. Their first album was called The First Blooming, and they debuted with the mature, independent, "strong-female" image and they focused on singing and music, instead of appearing on variety shows. They made two music videos from this album: "Break It" and "If U Wanna". Promotions ended in the summer of 2007.

Because of their similarity to Fin.K.L and the fact that both were under the same company, the two were often compared; in response, Kara stated that they wanted to work hard enough to deserve the comparison

Regine Velasquez - What Kind of Fool Am I

noreply@blogger.com (flor's blog) — Fri, 06 Mar 2009 03:43:00 +0000

What kind of fool am I
Who never fall in love
It seems that I'm the only one
That I have been thinking of

What kind of mind is this
An empty shell,
A lonely cell,
In which, an empty heart must dwell

What kind of clown am I?
What do I know of life?
Why can't I cast away
this mask of clay
And live my life

Why can't I fall in love
Like any other girl
And maybe the I'll know
What kind of fool I am

What kind of lips are these?
That lie with every kiss
That whisper empty words of love
That left me alone like this

Why can't I fall in love
Like any other girl
And maybe then I'll know
What kind of fool am I

When Going Gets Tough, Women Turn to Pink

noreply@blogger.com (flor's blog) — Fri, 06 Mar 2009 03:35:00 +0000

Ladies: The next time you feel a little droopy and defeated, put on a dab of pink for an instant pick-me-up, advise color and cosmetics experts, who say that the bright shade is proven to make women feel happier and prettier.

"The color pink is perfect for lifting moods," said Lee Hae-jin, a spokeswoman of LG Household & Healthcare, which makes cosmetics brands Ohui and Isa Knox. "What better time is there than now to use this kind of effect?"

Being a color of fun, confidence and new beginning, pink is set to take center stage this spring right through the economic downturn, she said, adding that local cosmetics firms are competing to put out their best shades to win over shoppers searching for that perfect fit.

Amore Pacific released its latest "Fleur" collection, which offers a full range of spring make-up in different pink tones. LG H&H and Coreana have also introduced new lines that include everything from lip gloss to eye shadow.

"If you think pink is just pink, you've got some studying to do," said an Amore spokeswoman, who explained that there are dozens of pink shades to go with all types of skin color.

So does pink really have a psychological effect?

Jen Rhee, a color specialist at Park Jun's Beauty Lab, says she doesn't know study results, but "could attest that it's definitely more cheerful to see women in pink than black."

She exemplified celebrities like Paris Hilton, who dress entirely in pink, and character Elle Woods from the film "Legally Blonde," a bouncy young woman who saw life through a happy lens.

"You don't have to go drastically pink and look crazy, but just add a bright shade here and there for an emotional boost,'' said Rhee, adding it will brighten up other people's moods, ``especially men, who can't put on the color as conveniently as women."

Last year, Pantone, the world's color authority, forecast yellow as the in color for 2009. But since then, other brighter hues, including shades of pink ― from bubblegum to fuchsia ― have become popular in women's wardrobes.

New Shinsegae Busan Faces Brush With Law

noreply@blogger.com (flor's blog) — Thu, 05 Mar 2009 02:02:00 +0000

In the basement of Shinsegae Group's brand new multiplex mall in Busan, shoppers can find a complete variety of grocery, household and electronics goods, plus a full range of Shinsegae E-mart's private label products, all spread out across a huge space of 6,900 square meters. But the retail giant refuses to call what looks awfully like a hypermarket a hypermarket.

That's because the company did not get the necessary clearance to open a discount retailer prior to kicking off the multiplex shopping center dubbed the Centum City store in Haeundae, a southern port city, Tuesday.

Local real estate law, citing district unit planning regulations, bans the operation of oversized discounters on the piece of property Shinsegae's new store is sitting on.

Considering Shinsegae's industry supremacy and long retail experience, the slip up may have gone overlooked, but its rival Homeplus raised the issue last week, days before the opening.

It filed a complaint with the Haeundae District Office on Feb. 25, demanding that authorities cancel Shinsegae's operation permission. However, ward officials passed on the decision-making to the Ministry of Knowledge Economy and gave the retailer "conditional approval."

"Issuing last-minute changes will lead to enormous negative economic impact in the local community," said a ward official, who explained that Shinsegae and its related businesses have so far hired up to 6,000 people in the area.

The shopping center, which rang up a daily sales record of 8.1 billion won on the opening day, is expected to help draw tourists from regional cities and neighboring countries.

Downplaying the economic benefits, Homeplus officials criticized the district authorities for evading their responsibility in properly inspecting the massive 14-story multiplex from the start. The building contains entertainment and leisure facilities including a department store, spa, ice rink, movie theater and a driving range.

"If they knew the rules and Shinsegae's plan thoroughly, they would not have granted permission," said a Homeplus spokeswoman, who explained that a discounter, by law, is a retail outlet more than 3,000 square meters in size, less than half the size of Shinsegae's basement floor.

Dodging accusations, however, the country's No. 1 retail chain presented a different understanding of the district planning law.

"The regulation outlaws independent discounters from operating, not a business that is part of a department store," said a company official, who argued that the store layout has been property adjusted so that it would fit the definition of a "department store."

For example, shoppers have to go to separate checkout counters for grocery goods and electronics, instead of using one common counter for all products as hypermarkets allow.

Ministry officials said they will decide whether or not Shinsegae's basement retail outlet is legitimate within the next 15 days.

Private English Education Cost Rises 12 Percent

noreply@blogger.com (flor's blog) — Sat, 28 Feb 2009 01:00:00 +0000

Private English language education costs increased nearly 12 percent last year, leading the overall growth of private tutoring expenditure and calling into question the effectiveness of the Lee Myung-bak administration's education policy emphasizing competition and English education.

The nation's total private education costs for primary and secondary schools grew 4.3 percent from a year earlier to 20.9 trillion won ($13.7 billion) in 2008, according to a joint annual survey by the Ministry of Education, Science and Technology, and the National Statistical Office (NSO), released Friday.

This means parents spent about 233,000 won on each child per month for private education ― up 5 percent ― including a monthly average of 76,000 won per child for private English education, up 11.8 percent. The increase in private education spending came despite shrinking household income amid the deepening economic downturn. Average household income dropped 2.1 percent to 3.02 million won in the four months to December.

It is the second annual survey of some 34,000 parents at 273 elementary and secondary schools.

"Private English education costs led the overall growth. The increase reflects growing demand for English education in line with the globalization trend," said Yang Sung-kwang, director general of the ministry, during a press conference.

He also cited the government's policy to strengthen English education and the fall in the number of students going overseas to study.

According to the ministry, the number of students going overseas dropped 12 percent to 1.29 million in 2008, reflecting rises in costs due to the weaker won against the dollar.

The data also showed that expenses in private education are poles apart between affluent and poor households. By region, Seoul topped the average education cost per student with a monthly 296,000 won, which is 2.4 times more than in rural areas. Children of families earning more than seven million won a month spent 8.8 times more for private education than those of families earning less than one million.

According to the survey, most parents said that they pay for private education as companies value universities' reputation in recruitment, adding that companies should hire employees based on their abilities rather than university name value to reduce the costs.

The ministry will designate 300 ``schools free from private education'' and support each with financial aid to the tune of 200 million won, and it plans to continue strengthening English education at public schools to reduce increasing private education costs.

The government, universities and teachers' groups announced a declaration Friday that they would cooperate to normalize public education. The education ministry, the Korea Federation of Teachers' Associations (KFTA), the Korean Council for University Education (KCUE) and a group of top educators supervising elementary and secondary schools in 16 cities and provinces will lead the campaign.

This the first time that core educators' groups have made such a joint declaration. Education Minister Ahn Byong-man, KCUE President Sohn Byung-doo, KFTA President Lee Won-hee and Kong Jeong-taek, chairman of the top educators, signed the agreement calling for them to cooperate for better public education and lower private education costs.

Retailers 'Exaggerate' Quality of In-House Brands

noreply@blogger.com (flor's blog) — Thu, 19 Feb 2009 09:40:00 +0000

There was a reason why the toilet paper seemed so thin, the ham didn't taste porky enough and the milk was slightly bland. It turns out that the proud and praised in-house labels of local retailers have been delivering low quality, just like their low price.

Consumers should've known already through first-hand experience, but it took the recent confessions of several manufacturers to snap cash-short shoppers out of the cheaper-is-better mode.

Maeil Dairy and Binggrae, two of the country's largest milk producers, candidly told local media earlier this month that the products they specifically make for Shinsegae E-mart, South Korea's No. 1 discount retail chain, are clearly different in quality from their own brands.

Maeil and Binggrae are the main manufacturers of E-mart's private label (PL) milk goods.

Binggrae, best-known for its popular banana-flavored milk, even said that it strategically _ but not too obviously ― differentiates the content and flavor to educate consumers that the E-mart-branded milk isn't as good as Binggrae's signature product.

"We can't put our customer loyalty on the line to cater to giant retailers," said a company official, despite the fact that the supermarket chains are manufacturers' biggest and most reliable distribution channel.

Considering that store brands cost 20 to 30 percent less than national brands, the difference should almost be expected. But consumers are thrown off because retailers like E-mart, which led the PL boom in the local market, have consistently promised that the economical private brands are "equal in everything, but just cheaper."

"Despite the recent happening, we still stand by our original principle," said E-mart spokesman Lee Nam-gon.

Hypermarket chains' formula claims that their simple manufacturer-to-store distribution chain and minimal marketing costs allow product offerings at a fraction of market prices, without sacrificing any of the ingredients.

Welcoming the friendly price, consumers bought what top retailers E-mart, Homeplus and Lotte Mart said, and the commitment delivered directly to promising sales results.

Last year, revenue from E-mart's store-brand labels accounted for 19 percent of total sales, while Homeplus and Lotte Mart saw 25 percent and 17 percent of sales generated, respectively, from their own brands.

All three retailers sell thousands of PL items, ranging from staple goods like milk and rice to soda, Kleenex and laundry detergent.

With discounters in a race to beef up their stock of store labels faster, the business was supposed to get better this year in the face of a worsening economic downturn.

But the bad news is that the latest milk incident is putting the quality of all private brands in doubt.

"Consumers have already started giving these cheap products a second thought," said Lee Jung-soo, a spokeswoman of the Korea Consumer Agency (KCA). "It's one thing to know exactly what you're paying for, but it's another thing to be fooled into buying something without knowing the real contents."

E-mart last week pulled the milk products that were questioned from its shelves to "investigate their quality," but discontent over sub-par goods is quickly spreading and more consumer products are under question.

Detergents, shampoos and even snacks were found to have been made with Chinese raw materials, or below-grade ingredients. LG House & Health Care, shampoo-maker Aekyung and snack manufacturer Kirin are among manufacturers that have hinted at the practice.

A study done by the KCA last year showed that the percentage of main ingredients in certain private-brand products was lower than that of those sold under manufacturers' own labels.

Industry insiders, however, say that companies have no choice but to churn out half-way decent goods due to price pressure from retailers.

"Retailers set a price and manufacturers have to work around it," said an industry source, adding that if they fail to do so, companies could face a temporary or permanent sales suspension at the grocery chains' nationwide outlets as punishment.

Lee of E-mart, however, fended off these claims, saying that retailers and manufacturers are in a partnership to offer consumers the best products at the best price.

Meanwhile, the Fair Trade Commission is considering launching an investigation into the relationship between retailers and manufacturers to see whether there has been unfair pressure involved.

Manila Forum Kicks Off

noreply@blogger.com (flor's blog) — Thu, 19 Feb 2009 04:44:00 +0000

Curtains were raised for the Korea-Philippines Business Forum on February 18 with key Philippine government figures participating the meeting to express their strong will to broaden economic ties between Korea and the Philippines.

President Gloria Arroyo of the Philippines and her five economic ministerial officials attended the event with Environment and Natural Resources Secretary Jose Atienza and Agriculture Secretary Arthur Yap enthusiastically explaining fundamental resources in the Philippines, such as energy, resources and agriculture, during the Wednesday Welcoming Dinner held at the Manila Hotel.

Approximately 90 Philippine enterprisers also participated in the Forum to search for means to expand the exchange between Korea and the Philippines. Ayala Land Inc. (ALI) CEO Jaime Ayala, state-run National Power Corporation CEO Froilan Tampinco, Rizal Commercial Banking Corporation Chairman Alfonso Yuchengco, Ernst & Young Philippine head David Balangue, who is concurrently the Philippine Chairman for the Korea-Philippines Economic Cooperation Council, were all present.

President Arroyo presented the Philippines’ economic vision in her welcoming speech this day and hoped for increased investments from Korea. The Philippine President set the fight against poverty as her topmost policy.

Meanwhile, Chairman Miguel Varela of the Philippine Chamber of Commerce and Industry disclosed, “This is the first time for such giant-sized business forum to be held in Manila between Korean and Philippine entrepreneurs. I hope this Forum could further widen the economic partnership between Korea and the Philippines.”

Cardinal Stephen Kim Dies At 86

noreply@blogger.com (flor's blog) — Tue, 17 Feb 2009 01:51:00 +0000

Cardinal Stephen Kim Sou-hwan, one of the most revered religious leaders in Korea, died Monday. He was 86.

Cardinal Kim was sent to Gangnam St. Mary's Hospital due to his frail condition in July last year and had been reportedly in a critical condition before falling into a coma briefly early Saturday morning. He passed away at 6:12 p.m. Monday.

He was born as the youngest of seven siblings in a poor but devout Catholic family in the southeast city of Daegu in 1922. His grandfather died in prison after being persecuted for being a Roman Catholic. He studied philosophy at Sophia University in Tokyo from 1941 to 1944 and the Catholic University of Korea from 1947 to 1951.

In 1963, he went to Germany to study theology and sociology at the Munster University and his educational drive went on as he received honorary doctorates from many universities throughout his career, including Seoul National University, Seton Hall University of the United States and the Ateneo de Manila University of the Philippines.

I did not know that the Cardinal and me studied at the same university. =) I studied at the Ateneo de Manila University of the Philippines where I earned my degree of AB Sociology.

Samsung, LG to Introduce Solar-Powered Phones

noreply@blogger.com (flor's blog) — Sun, 15 Feb 2009 23:03:00 +0000

Courtesy of SAMSUNG Electronics

Courtesy of LG Electronics

Samsung and LG Electronics, the South Korean handset duo, said Friday they will exhibit solar-powered and eco-friendly mobile phones at a telecommunication fair to be held in Spain.

Samsung said the industry's first "Blue Earth" handset features a solar panel on the back of the phone's battery, producing power to charge its battery.

"Just a 10-minute charge from the solar panel would allow a user to make a call for three minutes," Samsung spokesman Shin Young-june said.

"The latest device is a reflection of our steady commitment to producing more consumer electronics products with eco-friendly technology," Shin said, adding the phone is made from recycled plastic, helping reduce carbon emissions in the manufacturing process.

The "Mobile World Congress (MWC)" will take place in Barcelona from Feb. 16 to 19.

At the show, Samsung's cross-town rival LG Electronics will also take the similar step toward the environmental friendliness by showing off "eco-friendly" phones in its specially-designated "eco-zone" there.

"The phone is equipped with solar cells on the phone's battery cover, allowing the phone user to make a three minute call with a 10-minute charge," spokesman Park Seung-koo said.

LG aims to start selling the environmental-friendly devices this year, while Samsung's Shin declined to comment on the timing of the debut.

As one of the fastest-growing markets for gadgets, from notebooks to mobile phones, it's not surprising that green practices have emerged at the top of the agendas of technology companies.

Analysts and industry watchers say the time is ripe for the industry to convert rhetoric into "serious strategies" to go green.

At least in the handset industry, the trend is expected to gain full momentum at the upcoming telecommunication exhibition in Spain because Samsung and LG _ the No. 2 and No. 3 mobile phone producers, respectively _ clarified their keen interests in eco-related mobile devices.

Recycling or refurbishing is just "a word" technology companies are aiming at. Most handset makers are coming up with such devices, which cause less environmental damage.

The industry leader, Nokia's "3110 Evolve," is a phone with bio-covers made from more than 50 percent renewable materials.

The device is also presented in a small package made with 60 percent recycled content.

"Phones are getting smarter with advanced technologies. Despite the uncertain outlook in the global handset industry amid the deteriorating economy, leading vendors were injecting massive cash in a pre-emptive measure for the future," an analyst at Woori Investment & Securities said.

Separately, Samsung plans to introduce a smart-phone using Google's android platform this year.

"We will introduce the phone sometime in the second half of this year," another Samsung spokesman said, denying wider speculation that the company will exhibit the device at the show.

2009 Philippines-Korea Business Forum

noreply@blogger.com (flor's blog) — Sun, 15 Feb 2009 23:02:00 +0000

Maeil Business Newspaper and MBN are launching a Manila Business Forum at the Philippines in coordination with Manila Bulletin from February 18 to 19.

The Philippines have been Korea’s long-time ally, having had participated in the Korean War. The two nations are celebrating their 60th anniversary for Korea-Philippine diplomatic relations this year.

The theme for this year’s forum is ‘Rediscovering the Philippines: the Pearl of Asia’ where investment environments of resource, energy, manufacturing, finance, agricultural and tourism industries in the Philippines will be explored in-depth.

Co-hosts: Maeil Business Newspaper & TV and Manila Bulletin

Time: 18 February to 19 February 2009

Venue: Manila Hotel

Sharon Cuneta - Land Of The Loving

noreply@blogger.com (flor's blog) — Fri, 13 Feb 2009 04:31:00 +0000

Deep in your eyes is a promise
Love can be ours if we want it
Starting tonight every dream I ever knew
Here in your arms, I'm believin'
Fin'lly my life has a meaning of its own
Here in the land of the loving
I am home

I was alone in the city
Searching for someone to find me
Cold empty nights and the million strangers' eyes
Here in your arms I'm beginning
To leave behind all the loneliness I knew
Here in the land of the loving
There is you

In this simple room, magic is made
Though the world seems unchange
Leave the lights on, I'm a little afraid
This might be just a sweet dream

Deep in the night, love is growing
Though I had no way of knowing
That when I found you
I found everything I need
Here in your love I'll be staying
Fin'lly my life won't be livin' all alone
Here in the land of the loving
I am home

Regine Velasquez - Tell Me That You Love Me

noreply@blogger.com (flor's blog) — Fri, 13 Feb 2009 04:16:00 +0000

So far away on a cold, lonely night
If I could only hear your voice,
Then, I'd be alright
Tell me that you love me,
Tell me that you care
I just wanna hear your voice
Come floating through the air

Telephones are lonely
Tell me you're alright
I just wanna feel you near
When I lay down tonight

I'd give anything to see your face
Just to share the silence of your eyes
Your love is something no one can replace
and While I'm gone I don't want you to cry
Please don't cry

Tell me that you love me,
Tell me you're okay
Telephones are lonely
It sounds so far away
Tell me that you need me
Tell me it's alright
I just wanna hear your voice
When I lay down tonight.

I'd give everything to taste your kiss
Just to feel your body touching mine
It hurts me to be wanting you like this
So tell me that you love me one more time
One more time…

Tell me that you love me
Tell me you're alone
I just wanna hear your voice
I'm so far from home
Tell me that you love me,
Tell me that you care
I just wanna hear your voice
Come floating through the air.

Oh Tell me that you love me,
Tell me that you care
I just wanna hear your voice
Come floating through the air
Telephones are lonely
Tell me you're alright
I just wanna feel you near
When I lay down tonight.

so far away...

Dating Goes Penny-Wise

noreply@blogger.com (flor's blog) — Fri, 13 Feb 2009 02:49:00 +0000

Until last winter, Jin Sung-jin treated every blind date to a classy dinner at a swanky restaurant in Cheongdam-dong, Seoul's posh district, and a cocktail-and-jazz bar afterward. Now, he escorts girls to T.G.I. Friday's, where a free appetizer and dessert are included in a value meal.

Doing the math, the 29-year-old public relations manager figured that his previous dating style, which easily cost him 120,000 won ($100) per outing, was enough to go on two cheaper dates.

"I can't keep up with that kind of lifestyle anymore," said Jin, who recently lost 30 percent of his savings through stocks and funds. ``But I still want to continue dating so that I can get married soon.''

So instead of whisking women to posh venues, he started exploring destinations that were less costly, but creative.

"You can't go wrong with a museum," said Jin, who also opts to go ice skating or bike riding on a warmer day. "Sometimes, these activities turn out to be better than sitting in a fancy bar or cafe, because you get to learn more about the other person."

Jin is right, says Yoon Ji-ae, a consultant at Date Coach, an online site that provides dating advice.

She said dating shouldn't be an expensive event that excessively pressures men.

"Unfortunately, the reality is that the expense most often fall on males, so they are the ones having to stress over the money crunch," said Yoon, who explained that many singles are starting to downgrade from gourmet restaurants to casual rendezvous.

A recent survey by job portal Career of 1,000 people showed that 40 percent of men decided to break up with their girlfriends for financial reasons.

While bachelors are outright squeezed by the economic downturn, Kim Ji-sun, a 27-year-old who actively dates, says women are also forced to adjust around the reality.

"I used to buy a new outfit for every first date. It made me feel better and confident," she said, "but I stopped doing that this year. It's just too much money."

To save on outfits, Kim even started swapping clothes with her close girlfriends, who also want a new mix of clothes for their romantic outings.

Yoon, the dating coach, says there is a general understanding that people are tight on money, so both men and women shouldn't be shy about cutting their budgets.

"Go to the movies, watch a sports game at an open stadium, take a walk in the scenic parts of town ― there is so much to do," she said, stressing, "If your date has a problem with the little money spent, he or she isn't worth dating."

Spending on Daily Necessities Falling to 10-Year Low

noreply@blogger.com (flor's blog) — Tue, 10 Feb 2009 01:01:00 +0000

Kim Shin-hyung, 38, a Seoul-based salaried worker, complains about his shrinking monthly allowance these days. Citing the ongoing economic downturn, his wife, a middle school teacher, told Kim that they should slash spending and save more.

"I understand what my wife, who manages our household finance, is trying to do. But I would still like to hang out and drink with friends and colleagues at night as much as I want to. But with less money in my pocket, I have no choice but to reduce the number of drinking bouts and come straight home from work more often," he lamented.

Kim then said he and his wife have been getting paid on time. But they expect things to turn from bad to worse down the road, with many businesses downsizing their workforce and sending thousands of workers onto the street.

"A year ago, my wife got me a new suit for spring at a department store and I bought her a nice dress. But this time, I do not think we will be buying new clothes. Additionally, we used to eat out at least four times a week, spending more than 50,000 won each time. But to save money, my wife goes to the grocery store more often these days and cooks at home, even though she is tired after a long day of teaching," he said.

Like Kim and his wife, many Koreans are slashing spending on clothes, food and other daily essentials to cope with slower income growth and falling asset values amid the ongoing worldwide economic slowdown. Consumption of automobiles and other durable goods has plunged at a much steeper pace.

According to the National Statistical Office (NSO) Monday, household spending on clothes, food, housing and other daily necessities dropped 7 percent in December from a year earlier, the largest decrease since the 1997-98 Asian financial crisis.

Sales of clothes and other textile products fell 18.2 percent from a year ago, the biggest decline since 2006, when the statistical office began compiling data. Normally, consumers buy more clothes toward the year's end in preparation for winter, peaking in December. Such was not the case last year, as families cut spending to deal with worsening economic conditions.

Sales of shoes and bags dropped 11.5 percent, while revenues earned by restaurants and other eateries shrank 5.6 percent in the fourth quarter of 2008 from a year ago, the largest decline since 1999.

A drop in restaurant revenue indicates that more people refrained from dining out and instead, ate at home in a bid to save money.

"Spending on clothes and other daily necessities has fallen at a faster clip than initially expected, showing that consumers are increasingly concerned about their income flow and job security. The sluggish private consumption will likely deepen further for the foreseeable future, as economic conditions will turn from bad to worse," an NSO official said.

Additionally, makers of automobiles and other durable goods are suffering even more from stagnant private consumption. Auto production went down 48.4 percent last month from a year earlier, as consumers became reluctant to spend big bucks on the big-ticket item. It was the largest output decrease since July 2006, when operations were halted by strikes.