As the New Year dawns, people are concerned about what will happen on the Korean Peninsula in 2012. Rumors say that Mount Baekdu in North Korea may erupt soon, possibly in 2012. They say the clock is ticking and the eruption will bring about disaster affecting the whole peninsula. With Kim Jong-il’s abrupt death due to a heart attack this past December, North Korea’s situation, too, seems quite uncertain and nebulous in the New Year. In South Korea, parliamentary and presidential elections are s

Supplementary budget possible to prop up the economy: vice finance ministerThe government is considering fresh measures to prevent sudden capital flight as a “complex set of growing external uncertainties” could destabilize the market, the Finance Ministry said Tuesday.“Capital control measures currently in place have been reasonably effective, but we’re studying the imposition of additional measures in case of excessive cross-border capital flows,” Vice Finance Minister Shin Je-yoon said in a

The 119 rescue crew in Seoul were dispatched to deal with emergencies an average of 569 times a day, or every five minutes, last year. The majority of the cases were fire but a growing number of people asked for their help in searching for missing or runaway family members, the Seoul Metropolitan Fire & Disaster Headquarters said Tuesday.In its report about last year’s activity, 119 emergency staffers were dispatched to a total of 94,738 rescue scenes, of which 77,634 cases concluded with the ag

About 65,600 people with more than W300 million yearly income to be affected by new tax High-paid salaried workers would make up only 20 percent of those paying the “Buffett tax,” while the others are expected to be payers of comprehensive income or capital gains tax, a government report found Tuesday. The National Assembly on Saturday passed a controversial bill raising income taxes for the rich. The tax is named for American billionaire Warren Buffett, who has suggested that those in his incom

GNP leader and presidential hopeful reveals private side on first TV talk show appearanceRep. Park Geun-hye, the Grand National Party’s chief and strongest presidential candidate, sang and made jokes with comedians on a TV show late Monday, attempting to change her long-time reputation for seriousness. Her first TV talk show appearance came as she pushes to remake the sinking ruling party ahead of the April 11 general elections. Polls released earlier in the day showed that her liberal rivals we

But experts predict ideological division over N.K. issues may lessen due to youth indifferenceIdeological conflict last year over a series of issues including North Korea has raised the question of whether it is a sign of South Korea’s vibrant democracy or just deepening social and political division.A parliamentary melee over the ratification of the Korea-U.S. Free Trade Agreement in November had made many wonder whether the National Assembly is a place for settling or amplifying conflicts.The

TEHRAN (AFP) ― Iran on Monday successfully tested a Ghader ground-to-ship cruise missile on the last day of navy war games near the Strait of Hormuz, the official news agency IRNA quoted a navy spokesman as saying. “This missile built by Iranian experts successfully hit its target and destroyed it,” Commodore Mahmoud Mousavi was quoted as saying. He said it was “the first time” a Ghader missile had been tested. The Ghader missile, also known as the Qader, is said to have a range of 200 kilometer

Prime Minister Kim Hwang-sik said Monday the government will strive for “the fairest elections ever” this year, while seeking to maintain the economic vitality and stabilize the lives of the people.South Korea heads into its biggest election season in two decades this year as it prepares to select a new parliament and a new president. The general elections take place in April to change the 299-member unicameral National Assembly, and a presidential vote in December will select a successor to Pre