South Korea

South Korean president sacks finance, unification ministers

South Korean president sacks finance, unification ministersSeoul - South Korean President Lee Myung Bak on Monday named new ministers for finance and North Korean policy as his country has been hit hard by the global economic crisis and has seen tensions rise with its northern neighbour.

The cabinet shake-up came nearly 11 months into Lee's administration as his government has been criticized in the wake of the economic downturn and worsening relations with North Korea.

North Korea military makes public threats against South Korea

North Korea & South KoreaSeoul - North Korea's military Saturday threatened military conflict with South Korea, in the first public statement by the general staff of the North Korean People's Army in ten years.

The message, read by a military spokesman on North Korean television, according to the South Korean Yonhap news agency.

It said that South Korean President Lee Myung Bak and his "puppet military warhawks" would force North Korea's military forces "to take a strong military retaliatory step to wipe them out."

Samsung announces plans to streamline business organization

Samsung LogoSeoul - Samsung, South Korea's leading electronics company, will merge its four major departments into two groups as a response to the ongoing economic downturn, the company reported Friday.

The semiconductor and liquid crystal display (LCD) divisions will merge, as will the telecommunication and digital media divisions, according to the company.

The company also announced a series of staff changes, including plans to cut top managers' salaries by 20 per cent. Bonuses will also be reduced.

Shares surge more than two per cent in Seoul

Seoul - Shares surged 2.2 per cent Friday on the Seoul stock exchange after recent losses. South Korea's currency rose against the dollar.

UNICEF: Every day, 1,500 women die giving birth

UNICEF LogoJohannesburg - Every day 1,500 women die of avoidable complications in pregnancy in childbirth, the United Nations Children's Fund (UNICEF) said in a report released Thursday.

The overall figure stood at 10 million women since 1990, with women in Africa south of the Sahara and south Asia most at risk, the report titled The State of the World's Children 2009 said.

Women in these regions were 300 times more likely to die in pregnancy and childbirth than in developed countries.

In no other area of healthcare was the gap between rich and poor as wide, UNICEF said.

North Korea's dictator reportedly names son as successor

South Korea MapSeoul - North Korean dictator Kim Jong Il has, according to South Korean media reports, named the youngest of his three sons as his successor.

Kim issued an order on January 8 to the leadership of the communist Workers' Party that Kim Jong Un should take his place, South Korean news agency Yonhap reported on Thursday, citing intelligence reports.

The decision to name Jong Un, believed to be around 25 years old, came earlier than expected amid reports of the worsening of Kim's health.

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