5 MORE SOUTH KOREAN COMPANIES APPROVED TO INVEST IN NORTH KOREA
Seoul, S. KOREA -- Five South Korean companies were approved to invest in North Korea as part of an effort to improve relations between the two
nations, according to the National Unification Ministry. Samsung Electronics Co., S. Korea's largest electronics company and Kolon International,
a leading textile products manufacturer are among the five S. Korean companies. The other three companies include apparel and food processing companies. Early
in August, officials of North and South Korea, the USA and China are meeting to begin peace talks between the North and South Korean nations.
Until now, only 15 companies had approval to invest in the North. Of the now 20 companies with approval, only two have actually invested in the
North for joint ventures. They are:
- Daewoo Corp. -- invested US$5.12 million in a clothing manufacturer in N. Korea's western port of
Nampo
- Taechang Co. -- invested $5.8 million in a project to produce mineral water in the eastern province of Kangwon
In addition to the business ventures, the United States pledged $52 million in food aid to
the hunger-stricken North and S. Korea pledged $16 million . The S. Korean Red
Cross pledged an additional $20 million worth of food aid.
More information about S. Korea and N. Korea.
|
HYUNDAI & DAEWOO BACK KIA STEEL
|
USA AUTOMOBILES CONTRIBUTE 5% TO WORLD'S GLOBAL WARMING
|
|
KOREA -- Hyundai Motor Co. and Daewoo Motor
Co. have agreed to back Kia Steel. Kia Steel makes specialty steel and auto parts and presently employs over 2100
people. Kia's steel subsidiary has amassed more than US$1 billion in debts due to
aggressive expansion of a specialty steel plant completed in April and a decline in domestic sales by its flagship Kia Motors Corp. They
defaulted on bills due in June and are under bankruptcy protection for 2 months. The creditors demanded that Kia executives resign and
that they sell off Asia Motors. Kia said they planned to sell off some subsidiaries of Asia Motors and absorb the remaining company into
Kia Motors. No final decisions were made at this time. If all goes as planned, the three carmakers will have equal stakes in Kia Steel.
Kia Steel is a subsidiary
of Kia Group, S. Korea's eighth largest conglomerate, with 28 subsidiaries and more than 52,000 employees.
Reader's Comments
(Source: YOUR LINK HERE)
|
USA -- Automobiles in the USA contribute about 5% to the world's entire carbon dioxide emissions which scientists believe is a key
factor in global warming. No other country or energy sector in the world accounts for such a large share of this. It is estimated that
with Americans' changing 'tastes' in vehicles [from the smaller ones (introduced during the 1970's energy crisis) to the now preferred larger
Sport Utility Vehicles] that annual carbon emissions from US motor vehicles could more than double within the next 50 years. To counter this
trend, we may see an increased focus on issues, such as increasing taxes (as an incentive to drive less), fuel production (cleaner fuels) and
(smaller, more efficient) car design as well as marketing (attitudes and values). Today, Americans are driving bigger cars than they have in
the past 20 years, with excuses of safety features, new and expanding Baby Boom generation families, etc. Meanwhile, the world's
consciousness is raised concerning "green" issues and global warming.
(Source: YOUR LINK HERE)
|
|
SAN MIGUEL BEER SALES STRONG IN CHINA AND VIETNAM
|
THAILAND FOCUSES ON TOURISM TO IMPROVE ECONOMY
|
|---|
Manila, PHILIPPINES -- San Miguel Corp. (SMC), the Philippines-based beverages, food and packaging
group reports significant increases in beer sales in Asia, despite posting an operating loss for the first half of 1997 (of US$18.2 million). SMC's
beer sales volume grew by 12% in China (including Hong Kong) and it more than doubled in Vietnam. Nevertheless, profit was offset by heavy spending on
distribution and brand development efforts, primarily in China. SMC's international beer
sales revenues were up 3% to US$128.1 million. Sales were offset by a volume drop in Indonesia as a result of a soft market and production
difficulties associated with the start-up of the new brewery. Domestic beer sales revenues also declined by 1% to US$454.9 million. There was a 5% drop in
volume.
(Source: YOUR LINK HERE)
|
Bangkok, THAILAND -- Thailand's new tourism plan is expected to attract 17 million tourists and generate more than US$22 billion in
revenue over the next two years according to the country's Prime Minister, Chavalit Yongchaiyudh. The government is counting on this tourism promotion
plan to improve Thailand's economic troubles. In addition to attracting foreign tourists, native Thai's are encouraged to vacation locally and buy Thai products.
Thailand is experiencing severe economic troubles including a sharp stock market decline, and a sharp devaluation of the baht, the national currency, due
to private sector over-spending.
(Source: YOUR LINK HERE)
|
|
BBC TO BROADCAST TO THE WEST BANK IN ARABIC
|
GERMAN TV AD PRICES TO INCREASE
|
|---|
London, UK -- The British Broadcasting Corporation announced that they signed an agrement with Jordan Radio and Television.
The BBC will reach around 2 million people in greater Amman, Jordan and parts of the West Bnak through its all day programming on FM radio in Arabic.
In addition, the BBC will train Jordanian broadcasters in journalism and engineering.
(Source: YOUR LINK HERE)
[PANGAEA specializes in consumer
marketing insights and integrates the full spectrum of business
intelligence into thoughtful market launch strategies for its clients.]
|
Berlin, GERMANY -- Germany's top television groups, ProSieben Media AG and the RTL network announced plans to increase
the price of advertising on their stations in 1998. ProSieben prices are expected to increase an average of 4.5%; its second channel, Kabel 1 is expected
to go up 6.2%. RTL, Germany's largest station, will increase prices an average of 5.5%, RTL2 by 2% and Super RTL by 24%.
(Source: YOUR LINK HERE)
NOTE: Reprints, downloads or copies of this issue are available for US$12.00 per copy,
payable on the honor system to PANGAEA.
|
YOUR COMMENTS
Share Your Thoughts |
WORLD NEWS -- TODAY...
daily headlines and abstracts |
|---|
|
Please let us know what you think about the Interactive Global NEWSTM newsletter. Tell us what you like or dislike about it.
Feel free to share you comments with other readers in the Bulletin Board area. Please note that the Bulletin Boards are experiencing intermittent problems. If this is the case, send comments to bureaucrat@pangaea.net and specify "IGN Comments" in the subject line.
|
Keep up-to-date on general global business news and trends as they occur --
updated 24-hours per day, 7 days a week. PANGAEA.NET
members have further access to country- and industry- specific news everyday.
TOPICS:
LAST MINUTE TRAVEL BARGAINS -- Special Discounted Fares
American Airlines' Net SAAver International offers last minute travel bargains for travelers
departing from the USA. You can schedule a last minute meeting or a weekend getaway to selected
destinations throughout Europe, the Caribbean, Central America or South America each week and
benefit from these discounted rates.
Through this program, you can fly at discounted rates, as long as you
can plan to travel on short notice. These low round-trip fares are good for travel only on the
dates specified. They expire on Fridays. Check back each Monday for the week's destinations!
From Boston (BOS) to:
US$153 -- Bermuda, Bermuda (BDA)
US$279 -- London, Heathrow Airport, United Kingdom (LHR)
From Chicago (ORD) to:
US$230 -- Mexico City, Mexico (MEX)
US$299 -- Stockholm, Sweden (ARN)
From Dallas/Ft. Worth (DFW) to:
US$200 -- Cancun, Mexico (CUN)
From Miami (MIA) to:
US$250 -- Bogota, Colombia (BOG)
US$409 -- Buenos Aires, Argentina (EZE)
US$138 -- Curacao, Netherland Antilles (CUR)
US$113 -- Grand Cayman, Cayman Islands (GCM)
US$349 -- La Paz, Bolivia (LPB)
US$300 -- Managua, Nicaragua (MGA)
US$200 -- San Jose, Costa Rica (SJO)
US$349 -- Santa Cruz, Bolivia (VVI)
US$125 -- Santo Domingo, Dominican Republic (SDQ)
From New York Kennedy (JFK) to:
US$245 -- Aruba, Aruba (AUA)
US$179 -- Port au Prince, Haiti (PAP)
Discover Puerto Rico:
From $63 per person double occupancy
Vacation Package includes - 2 nights accommodations; does not include airfare.
[Vacation prices valid through January 20, 1998.]
[Restrictions apply. Check with American Airlines for details.]
To take advantage of these fares, you must depart on Thursday or Friday,
September 4, 1997 or September 5, 1997.
Thursday departures return anytime the following Monday and Friday departures return anytime the
following Monday/Tuesday. Call 1-800-344-6702 and ask for Net SAAver International Fares
to book your flight. Or
subscribe to their mailing list for more information.
You can also read the latest news about
Travel & Tourism.
|
|
.....check back for more news this month! |
|---|
