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2009-04-06 09:50:00

South Korean and European Union officials said an expected trade agreement would have to wait another month, due to disagreements on tariff duty drawbacks. Although a final agreement was expected, a meeting between trade representatives in London failed to conclude with a document ready to sign, Yonhap News reported Monday. South Korea wants tariff duties returned to companies if the materials used in production were imported, Yonhap said. We expect both sides to meet again next month to iron...

2009-03-24 07:41:21

The South Korean government added a $20.7 billion spending package to its budget Tuesday to stimulate the nation's slumping economy. The supplemental spending, at 3 percent of the nation's gross domestic product, is the largest addition to the country's budget since 1998, the Yonhap news agency reported. The global economic downturn is taking place at a faster pace than has been expected in terms of its depth and breadth, South Korean Finance Minister Yoon Jeung-hyun told reporters....

2009-01-07 13:03:28

A media workers' union in South Korea halted its strike Wednesday while the passage of a law allowing new firms to own television networks was put on hold. Members of the National Union of Media Workers, including well-known news anchors, have boycotted work since late December, Yonhap reported Wednesday. Workers objected to President Lee Myung-bak's media reform bill, which would allow large companies, including newspapers, to buy television networks. The union also threatened to strike...

2008-10-19 12:00:11

South Korea Sunday said it will provide $100 billion in state guarantees on banks' foreign debts in an effort to combat a dollar shortage in the country. The move is also aimed at bolstering confidence in South Korea's financial markets, Yonhap, the South Korean news agency, reported Sunday. The South Korean Finance Ministry, the Bank of Korea and the country's Financial Services Commission made the joint announcement Sunday as part of an emergency conference on the global financial...

2008-10-14 06:00:33

Text of report in English by South Korean news agency Yonhap SEOUL, Oct. 14 (Yonhap) - East Timor signed a memorandum of understanding (MOU) that could permit the export of gas from its Greater Sunrise well to South Korea by 2013, the government said Tuesday. The pact was reached in Dili and marks the first time that East Timor, which gained independence in May 2002, has signed an energy- resources pact with a foreign country, the Ministry of Knowledge Economy said. The MOU outlines...

2008-10-14 03:00:15

Text of report in English by South Korean news agency Yonhap [Yonhap headline: "N.K. Foreign Minister in Moscow To Discuss Nuclear, Wider Ties: Report"] SEOUL, Oct. 14 (Yonhap) - North Korea's foreign minister was to arrive in Russia on Tuesday for talks with Russian officials possibly on bilateral ties and the North's denuclearization, a report said. During a four-day stay in Moscow, Pak Ui-jun will meet ranking Moscow officials including his Russian counterpart Sergei Lavrov,...

2008-10-13 03:00:18

Text of report in English by South Korean news agency Yonhap [By Shim Sun-ah: "Unification Ministry Expects US Delisting to Positively Affect Inter-Korean Ties"] SEOUL, Oct. 13 (Yonhap) - South Korea's Unification Ministry said Monday it expects North Korea's removal from a US terrorism blacklist will positively influence inter-Korean ties. North Korea said on Sunday it would resume disabling its plutonium-producing nuclear plant and allow in inspectors after Washington announced a...

2008-10-11 09:00:22

South Korea says it will privatize and restructure 30 government-owned companies in a bid to increase their productivity. Included on the list are the Korea District Heating Corp., Korea Power Engineering Co. and Korea Plant Service and Engineering Co., of which Seoul will sell between 40 percent and 49 percent of the government's stake, the South Korean Yonhap News Agency reported Saturday. The moves are the third and final phase of President Lee Myung-bak's program to improve the...

2008-10-02 03:00:20

Text of report in English by South Korean news agency Yonhap Panmunjom [P'anmunjo'm], Korea, Oct. 2 (Yonhap) - Military officials from the two Koreas met here Thursday for first inter- Korean military dialogue in eight months, but the talks ended shortly without any significant progress, an official said. "The meeting ended, but there was little progress made," the official said, asking not to be identified. Pak Rim-su, North Korea's chief delegate to the talks, later said Thursday's...

2008-09-30 06:00:30

Text of report in English by South Korean news agency Yonhap [Yonhap headline: "Lee Optimistic About Tripartite Economic Cooperation With Russia, N. Korea"] Moscow, Sept. 30 (Yonhap) - South Korean President Lee Myung-bak [Yi Myo'ng-pak] said Tuesday that his ongoing official visit to Russia has resulted in important diplomatic achievements in terms of energy resources, economics and security diplomacy. Lee said his summit agreements with Russian President Dmitry Medvedev to build a...


Word of the Day
caparison
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.
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