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South Korea's anti-graft law gets mixed reviews SEOUL: A sweeping new South Korean anti-corruption law drew mixed reviews Wednesday, with supporters hailing an overdue offensive on a persistent scourge but critics bemoaning a rushed bill open to abuse.The law, approved by a thumping parliamentary majority on Tuesday, has been nearly three years in the making in a country where public-sector corruption is a major problem.Transparency International's corruption perceptions index currently ranks South Korea 27th among the 34-member Organization for Economic Cooperation and Development (OECD).The new law crucially releases prosecutors from the need to prove a direct link between a payment or gift to a public official and his subsequent actions.Instead, public servants receiving money, gifts or favors with a value of more than one million won ($913) will be liable to criminal prosecution, even if the gift in question bears no relation to their job.Offenders face a jail term of up to three years when the legislation ...

Japan slams brakes on Uber taxi service TOKYO: Japan has slammed the brakes on a pilot project by taxi service Uber less than a month after it was launched, with a government official saying Wednesday it probably violates transport laws.The development marked another blow for the web-based taxi app, which has incurred the hostility of traditional taxi companies in many countries."Last Friday, we met with Uber Japan officials and told them to stop the pilot project immediately because we suspect it breaches ...
Twenty people killed as bus falls off cliff in China: Xinhua BEIJING: Twenty people from an opera company were killed after a bus fell off a cliff in China early Tuesday, state media reported.Another 13 were injured in the accident in Linzhou in the central province of Henan, the official Xinhua news agency said, citing the local government.The coach was carrying staff of a local opera troupe, it said, adding the accident was under investigation.Fatal road accidents are a serious problem in China, particularly involving the ...
South Korea Finance Ministry official says economy on modest recovery path SEOUL: South Korea maintains the view that its economy is still on a modest recovery path, a senior finance ministry official said on Monday, shortly after news factory output had seen its worst fall in six years.Factory output in January fell 3.7 percent in seasonally adjusted terms from December, government data showed, following December's 10.5 percent month-on-month decline from November."Exports have been posting solid growth in terms of volume," said Lee Chan-woo, director-general of the ...
Japan February final manufacturing PMI 51.6pc vs 52.2pc in January TOKYO: Japanese manufacturing activity expanded at a slightly slower clip in February domestic orders lost some steam, a survey showed on Monday, but stronger export demand from overseas suggest the manufacturing sector will continue to expand.The final Market/JMMA Japan Manufacturing Purchasing Managers Index (PMI) was 51.6pc in February, slightly above a preliminary reading of 51.5 but below 52.2pc in January.It remained above the 50 threshold that separates contraction from expansion for the ninth consecutive month.The ...
North Korea to lift Ebola ban on foreign tourists SEOUL: North Korea is set to lift a four-month ban on foreign tourism imposed over concerns of the spread of the deadly Ebola virus, a Beijing-based tour group said on Monday.Koryo Tours, one of the handful of agencies running regular tours to the North, said it had been contacted by the National Tourism Administration in Pyongyang with news that there was "some movement" over the current travel ban."We were told we should expect confirmation later ...
Hong Kong lawmakers hand themselves in to police over protests HONG KONG: Hong Kong pro-democracy lawmakers handed themselves in to police Monday over their involvement in mass protests for free elections, the latest step in a widespread investigation which has been accused of intimidation.Police have vowed to investigate the "principal instigators" of the street blockades which ended in December when rally camps were cleared.A number of protest leaders have been arrested and released without charge, in a controversial procedure which some say is harassment. Albert ...

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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln