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- S Korean central bank to provide $3 bln to local banks
Special Report:Global Financial Crisis SEOUL, Jan. 9 (Xinhua) -- South Korea's central bank announced Friday its plan to provide 3 billion U.S. dollars to local banks to help ease dollar liquidity crunch. The Bank of Korea (BOK) said the money is part of
- South Korean auto makers take credit crisis action
By Hugh Lawson and Jongwoo Cheon TOKYO/SEOUL (Reuters) - Two South Korean auto makers on Friday joined the industry line up of companies suffering in the global financial crisis, with Hyundai Motor Co slashing output and Ssangyong
- Iran downs China at Azadi
Print version TEHRAN, Jan. 9 (MNA) -- Iran national football team defeated China 3-1 in a friendly match on Thursday here at the Azadi Stadium. Ali Daei?s side, who are preparing for the World Cup 2010 qualifiers against South Korea in February, beat
- 'Korea Needs Energy Saving'
Local administrative chiefs listen to a speech by President Lee Myung-bak during a meeting at Cheong Wa Dae, Friday. From right are Hyun Dong-hoon of the Seodaemun-gu Office; Kim Hyeong-ryeol of the Suseong-gu Office in Daegu; Maeng Jung-ju of the
- South Korea's Ssangyong applies for receivership
SEOUL: Chinese-owned Ssangyong Motor of South Korea, hit by falling auto sales in the face of the global slowdown, said on Friday it had applied for court receivership to avoid bankruptcy. Just two weeks after the automaker was turned down for new bank
- Korea slashes rates
HONG KONG (MarketWatch) -- The Bank of Korea slashed interest rates by half a percentage point Friday, bringing its key rate to record low 2.5% in an effort to prop up an economy suffering from a collapse in exports. The rate cut adds to the four other
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Following World War II, Korea was split into a northern, communist half and a southern, Western-oriented half. KIM Chong-il has ruled North Korea since his father and the country's founder, president KIM Il-song, died in 1994. After decades of mismanagement, the North relies heavily on international food aid to feed its population, while continuing to expend resources to maintain an army of about 1 million. North Korea's long-range missile development and research into nuclear and chemical weapons are of major concern to the international community.
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