“North Korea, Building Missile Base – Army Post”

Kim Dong-Shin, the Minister for Defense said on the 8th, "North Korea is actively conducting winter training until March, such as outdoor tactics, anti-air training since last December and are constructing missile bases, army posts and 4 army divisions." He added, "Therefore, military preparation in defense is thoroughly required."

Minister Kim stated through a report of national defense in the National Assembly, "North Korea is conducting planned reinforcement campaigns such as building chunma tanks, small submarines, and complementing campaigns."

Hong Jun-Pyo, member of the Grand National Party, insisted at the Finance and Economy committee "When Mr. Lee Hyung-Taek ( President`s nephew-in-law) was working in the KDIC as managing director from 1999 to 2000, the meeting of steering committee of KDIC was operated by documentary resolution." and "it is suspected that Mr. Lee H.T acted arbitrarily during his time in the KDIC."

Lee Wan-Gu, member of the United Liberal Democrats Party, requested the reason for abandoning saying "Although the public fund was invested, reduction and exemption in bond regarding the bankrupt foundation is 1,116,800 million won and abandonment of special bond is 137,100 million won. Likewise, the scale of insolvent bond which KDIC abandoned reached 1,253,900 million won."

Lee In-Won, Chairman of KDIC answered, saying, "Expecting revulsion of capital among 99 trillion of public investment, capital this year might only be around 1,600 billion won ~ 1,800 billion won from sources such as 600 billion won from abroad issued DR of Choheung Bank and 500 billion won from stocks of our financial holding company."

Also, Lee Sung-Hun, GNP member, insisted at the executive policy council saying, "The Daeyang Fund, whose chief stockholder is Mr. Kim Young-Joon who took over KEP Electronics from Mr. Lee Yong-Ho, loaned 8 billion won to Hanbyeol Telecom that is under investigation by public prosecutor for manipulation in stock prices." and, "Mr Lee Yong-Ho, Mr. Lee Hyung-Taek, and Hanbyeol Telecom scandals are related to one another."

On the other hand, the committee of Industry and Resources held a comprehensive meeting and agreed to the revised bill of KFSB in order not to support any particular party in the public election.

In-Soo Song jnghn@donga.com · Jeong-Hun Kim issong@donga.com