S. Korea announces bid for recovery of sunken ferry

South Korea has announced an open bid to select a company that will salvage the passenger ship that sank last year, killing over 300 people, the government said Saturday. The Ministry of Oceans and Fisheries said it has allocated 100 billion won (US$91.6 million) for the bid announced late Friday, adding the work will require pulling the 6,825-ton ferry Sewol out of the water but also doing so without causing any significant damage to the ship as to prevent the possible loss of nine bodies believed to be inside. The candidates will be graded on a 100-point scale, with technological capabilities accounting for 90 percent of the evaluation. The bidding price will account for 10 percent of the final score, down from 20 percent anticipated earlier. A bidder who receives less than 76.5 points in technology will automatically be disqualified. Bidders also have to take possible delays due to weather into consideration when estimating their offering prices and must film the entire process in a high-resolution video that must be submitted later. The project must be finished by Dec. 31, 2016, but the government will make efforts to speed it up. The deadline to announce a bid is 6:00 p.m. on June 22, while a detailed plan is due by 2:00 p.m. the following day. The ship sank on April 16, 2014, while en route to the country's southern resort island of Jeju from the western port city of Incheon. Three hundred and four people, mostly high school students on a school excursion, have been confirmed dead with nine people still missing. (Yonhap) mhlee@ktimes.co.kr,

Oman-Korea ties remain stronger than ever

His Majesty Sultan Qaboos bin Said, Sultan of Oman Omani Ambassador Mohamed Salim Alharthy contributed the below article on the occasion of his country's 44th National Day and the 40th anniversary of the establishment of diplomatic relations between Oman and Korea. — ED. Omani Ambassador to Korea Mohamed Salim Alharthy The 18th of November every year, Oman celebrate the National Day and there are great achievements, progress and prosperity in various spheres of life under the wise leadership of His Majesty Sultan Qaboos bin Said. Over the years of the Sultanate's modern renaissance, the Omani Renaissance continues development of human, natural and economic resources, and providing a broad base of infrastructure and services, and establishing the state of law and institutions. Beside expanding the legislative and legal powers, enhance the democracy and Shura (Consultative) , that accompanied by several steps to strengthen the independence of the judiciary and the public prosecutor, to enable the Omani peoples to fulfill their role and participation in the development, progress and decision-making. The Omani Woman was empowered and was able improve her expertise and play major role in society, gain a membership in the Shura and state councils, (Consultative Council), and assume high ranking position in in various fields both the government and private sectors. The Omani foreign policy since the beginning of the renaissance, has continued to build bridges of friendship, and open new horizons of cooperation and good relations with various countries, based on the firm foundations of mutual respect and common interests, standing always with the side of right and justice ,non-interference in internal affairs, and continued to work with the countries of the world to promote tolerance, coexistence, love and peace, and settlement of conflicts and disputes through the means of tolerance, dialogue and negotiations. The legislative and regulatory authorities granted to the Majlis Oman (Royal Decree 39/2011) made this council more capable of expressing the aspirations of citizens and granted them further opportunities for participation in the decision-making process. In addition, the experience of Municipal Councils proved to be another formidable development in democratic practice, an opportunity to expand the scope of citizens' participation in serving their local societies and enhancing the tradition of Omani Shura. These achievements went hand in hand with steps to reinforce the independence of the judiciary and public prosecution. Night scenery of Grand Mosque in Muscat Tolerance  Oman has guaranteed religious and intellectual freedom to citizens and residents alike, acting from the view that these freedoms are human rights that cannot be confiscated by any means. Oman exerts tangible efforts in enhancing the concept of coexistence and tolerance for which our world today is in great need more than any other time before. Oman holds a mobile exhibition which tours countries of the world to convey Oman experience in religious tolerance and co-existence that prevail across the spectrum of the cosmopolitan population. It also organizes symposiums on propagating the principles of tolerance. Since its launching in 2011 in Germany, the exhibition has toured more than 55 cities around the world. On the occasion of the 40th anniversary between Oman and Korea, Seoul has been selected among many cities around the world to host the exhibition. In November 4, 2014, the exhibition organized by Oman's Ministry of Endowment and Religious Affairs, the Oman embassy and Korea foundation host the exhibition for one month from Nov. 4-Dec. 6 in Korea foundation gallery, Seoul The exhibition presents variety of facets of the modern society in the Sultanate of Oman by offering the visitors with insight into the practice of Islam in daily life, along with an examination of contemporary Omani society and the role of women in its society. The exhibition comprises several corner including manuscripts which dates hundreds of years, tolerance panels, photo exhibition, fine arts-shadow arts, Arabic calligraphy, a documentary film, and modern Oman panels. Also a campaign titled "#ActForTolerance" a hash tag was launched, and this one targets young men and women from all countries of the world. The aim of the exhibition is to highlights various cultural aspect of Oman and spread the correct message of Islam which aims better understanding among our nation which ultimate aim is to enhance our relation and cooperation. History, Culture and Tourism  Oman history goes back to 5000 years ago. Its strategic location between the east and the west was a major part for being trade route. Therefore, it had connection with varies civilizations in the past. Omanis also were known as sea faring and trading nation. Oman enjoys an unspoiled culture and traditional lifestyle in almost every aspect of life which is derived from the Islamic religion. The Omanis are a society committed to kindness, friendship, hospitality and the value of the family as the solid foundation of life. Oman is a beautiful country with many appealing sites and destinations. The popularity of Oman is mainly due to its geological structure, beautiful landscapes, mountains, deserts and Wadis, with green oases of palm trees, heritage, etc. Oman also has some exotic beaches with crystal clear and sparkling water and luxurious resorts and hotels, restaurants, etc. Some of the interesting attractions of Oman include Muscat, Nizwa, Sohar, Salalah and Sur. Oman is rich in nature, culture, heritage as well as interesting activities such as scuba diving, boating, climbing, trekking, camping, golf, shopping and watching whales, dolphins, turtles and birds. In addition, tourists can enjoy camel and horse racing and the souks and villages of Oman, Bedouin tents in the desert and camel riding. Oman Vision 2040  The Main Committee for Oman 2040 was formed last year and it was entrusted with drafting a new vision on how to benefit from economic and social developments in the local, regional and international arenas, while at the same time taking into account the ‘Oman 2020' assessment made by the Secretariat General of the Supreme Council for Planning. Oman 2040's main focus will be on identifying and exploiting the country's available opportunities and resources of each economic sector, including airports, seaports and industrial estates, in addition to available resources, to help realise the diversification of sources of income and the expansion of self-employment projects. A balanced distribution of development in all governorates should also be taken into account. Oman-Korea relations  This year also marks the 40th anniversary of establishment of the diplomatic relations between the Sultanate of Oman and the Republic of Korea, which have witnessed, since its establishment, development in various aspects. The volume of trade has been doubled, increase in the investment and exchange visits between the two friendly countries. In addition to this the Korean companies expanded their contribution in the construction and industrial projects taking place in the Sultanate of Oman. The embassy is keen to expand and deepen the prospects of cooperation to include all fields such as renewable energy, technology and extend it to cultural, health, educational and tourism aspects and other fields. On the occasion of the 40th anniversary between Oman and Korea, the embassy has launched a series of cultural events to enhance the mutual understanding and strengthen and expand cooperation to include broader fields. There are many projects and investment opportunities and incentives in Oman for Korean companies. Also, Oman is a tourist destination that enjoys a deep rooted history, rich heritage, beautiful geological structure, and authentic Arabic hospitality; welcome to Oman Oman-Korea relations date back more than a thousand years, when Omani merchants met their Korean counterparts on their way to China. In modern times, they established diplomatic relations in 1974. Since then, Oman—Korea relations witnessed a remarkable development in various fields. Korea is regarded a major trading partner of Oman, and both countries engage in numerous economical exchanges and cooperation. Oman provides large quantities of oil and LNG to Korea. On the other hand, Korea exports many industrial products, including automobiles, vessels, hi-tech electronics and electric goods to Oman. Moreover, many Korean companies such as GS, Daewoo, Hyundai, Doosan, Hanjin, Dealim, and others are contributing to the development of Omani infrastructure and other major projects. The volume of trade between the Sultanate of Oman and South Korea reached $5.79 billion in 2013. The Sultanate export to South Korea reached $5.3 billion while import from South Korea reached 0.923 billion. The Oman-Korea Joint Committee is playing a pivotal role in promoting and developing the cooperation between the two countries. During the fourth round of meetings held in Muscat on Aug. 24. During this round they reviewed the results of the committee's works and the bilateral cooperation in the economic, scientific and cultural fields and means of promoting them, as well as exchanging viewpoints on matters of concern to the two friendly countries. To reflect the strong ties, an exchange visit from both sides has taken place. Lately, Oman's minister of Information and minister of Transport and Communication visited Korea. Oman has also participated in many international events and conferences which have taken place in Korea such as the UN Public Service Forum, the 12th Conference of Parties to the Convention on Biological Diversity (COP) and High Level Segment, International Telecommunication Union (ITU), Nuclear forum, and others. During the ITU conference Oman has participated on the Technology Gender Equality Streaming award and a golden sponsor. Investment Opportunities  Oman has worked to attract investment over the past years by creating a suitable climate to attract foreign investments and stimulate domestic businesses. It improves the economic environment and creates encouraging incentives. Oman enjoys many investment features, which have enabled it to attract domestic and foreign investment, including security, political stability and the application of a free economic system. It allows foreigners to own projects without any restrictions on the transfer of funds to outside the country, and there is no tax on the income of individuals. Also, it gives uniform tax treatment to all companies, both Omani and foreign institutions, at 12 percent annually. There are many investment opportunities and major ongoing projects and many more to come, such as a railroad project, a medical city, an education city, ports, airports, tourism projects, petrochemical projects, and many other construction projects. Oman is looking to attract specialist investment into the Sultanate's ports and special economic zones. As a major manufacturer of high quality machinery, technology and electronics, our focus is to bring an expertise to assist us with the development of major projects in the logistics, fisheries, petrochemical, tourism and manufacturing sectors across the Sultanate. Oman will see a massive surge of investments with more than $127 billion worth of projects under way. This is in addition to more than $80 billion projects being executed at different stages of completion, while more are scheduled to be launched in the remaining 14 months of this five-year plan. Four engineering, procurement and construction (EPC) contracts for building the $3.6 billion Liwa Plastics project are expected to be floated in January next year. The EPC contracts will be awarded by the fourth quarter of 2015, and the commissioning of the project would start in the first quarter of 2018, which will lead to full commission by the end of the same year The contract for the Rail Road Network construction of the 207 km Sohar-Buraimi worth of $15bn is anticipated to be awarded by mid-2015. This in addition to a total of 18 consortiums and joint ventures prequalified to participate in the design and build package of the 2,235km-long line. Bids are due in by 21 December, 2014. Also to be constructed along the route are a number of railway facilities, including stations, freight yards, wayside maintenance bases, and maintenance depots. We would like to invite Korean companies to take the opportunity to participate in these projects and investments. The embassy is keen on providing support and cooperation to Korean companies and look forward their participation and presence in Oman. Beside these events we are planning to hold economic and investment forums to promote the projects and investment opportunities for the Korean companies to participate in the projects and investment opportunities in Oman. These cultural events and business forum act as a bridge between our nation to promote understanding which aim to enhance enhances the relation and cooperation in general. In conclusion, I would like to say that during these blessing days of the 44th National day, Oman is proudly witnessing the achievements made by the hands of its people under the wise leadership of H.M Sultan Qaboos. On this occasion and the occasion of the 40th anniversary of the cordial relation between Oman and Korea, I would like to take the opportunity to congratulate the Korean government and people for the achievements that have been made in various areas, which are being felt everywhere, and the role of Korea in addressing issues of local, regional and international level besides hosting international events and conferences. Also, I would like to express my thanks and appreciation for the Korean people and government for their cooperation, kindness, generosity and hospitality they have extended to us since our arrival in this great and beautiful country. Thanks and appreciation also extended to the sponsor and Korea Times who have made this supplement possible. Last but not least, I would like to invite the Korean people to visit Oman, explore the culture, tourism land marks, adventure and also invite the Korean companies to participate in the investment opportunities of various projects. I'm confident that our relations and cooperation in the coming days will witness further enhancement and development. Ultimately, my heartfelt wishes to Korea to further success and progress and for the Oman-Korea relation further development and prosperity.

Another year of progress for UAE Corniche Abu Dhabi, UAE / Courtesy of UAE Embassy The United Arab Emirates Embassy in Seoul contributed the articlebelow on the occasion of the 43rd anniversary of its National Day. — ED. UAE President Sheikh Khalifa bin Zayed Al Nahyan On 2nd December 2014, the United Arab Emirates marks its National Day, celebrating 43 years since the state was established in 1971. For citizens and expatriate residents of the seven emirates of the federation, Abu Dhabi, Dubai, Sharjah, Ra's al-Khaimah, Ajman, Umm al-Qaiwain and Fujairah, it has been another year during which the country has continued to prosper, despite the turmoil that has continued to affect much of the Middle East region. The economic recovery witnessed over the last few years has continued its momentum, having a notable positive impact on business confidence. Located in the south-east corner of the Arabian peninsula, with coastlines on both the Arabian Gulf and on the Gulf of Oman, the seven emirates, formerly known as the ‘Trucial States', came together following the withdrawal of Britain after 150 years. Led by the UAE's founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the seven rulers decided to work together to form a federation, to bring prosperity and development to their people. Aided by the vision of Sheikh Zayed, the UAE has since emerged as one of the fastest-growing and most stable countries in the region.  Sheikh Zayed himself died in 2004, after over thirty years as President. The process of growth, however, has continued under the leadership of his son and successor as President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, the Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, their fellow members of the UAE's Supreme Council of Rulers and the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, His Highness Sheikh Mohamed bin Zayed Al Nahyan.  The UAE government's commitment to upholding all rights and freedoms for its citizens and other residents has led to the state becoming, in the words of President His Highness Sheikh Khalifa, "a paradise for citizens and others. All live in peace in a tolerant community that is free from segregation and injustice."  The economic and social progress achieved by the United Arab Emirates since it was established, coupled with the tolerance that characterises its way of life, has meant that Government has traditionally enjoyed overwhelming support from all of the country's residents, citizens and expatriates alike. That has continued to be displayed, with the UAE continuing to enjoy enviable stability, at a time when much of the region is in turmoil.  The guiding principles that underlie the success of the state, laid down over forty years ago, remain as fundamental elements in the policies of the UAE Government. One was that the resources derived from the exploitation of Abu Dhabi's oil and gas reserves should be shared across the country in the development of its infrastructure. A second was that, as Sheikh Zayed said, "the country's real wealth is its people", and that particular effort should be made to ensure that the people should benefit from the best available access to education, health care and social services, to equip both men and women to play their full part in the country's growth.  A third principle was that it should be a country where a spirit of tolerance between those of different nationalities, communities and faiths should prevail, yet one where its own national culture and heritage should be both cherished and protected.  Although firmly committed to the Islamic faith of its citizens, the UAE is now home to over 40 churches and cathedrals as well as places of worship for other faiths. The Government and people of the UAE are determined to ensure that this fundamental element of the country's way of life should continue.  And the fourth principle, looking outside the country, was that the UAE should seek to promote dialogue, co-operation and conflict-resolution, not only within the Arab world and the broader Islamic community, but also within the wider international community.  All of these principles have proved to be of critical importance over the course of the last year.  The Government's continuing focus on promoting equality of opportunity for UAE citizens and on ensuring that opportunities for education and training are open to all has meant that the country's women are now, gradually, coming to play an increasingly important role in the workforce.  Today, women account for nearly 70 percent of all university graduates in the country and fill around 60 percent of government jobs, providing four Ministers in the Cabinet, the UAE Permanent Representative to the UN, seven members of the Federal National Council, including the First Deputy Speaker, 10 percent of overseas diplomats (including Ambassadors and Consuls-General), and even civil and Armed Forces pilots, including Major Maryam al-Mansouri, who attracted international attention this year because of her involvement in the multinational air campaign against the terrorist Da'esh group in Iraq.  One key achievement during the course of the past year has been in the country's progress as a good place in which to do business.  The UAE rose three places over last year, to 22nd, in the latest World Bank's Doing Business 2015 report, the highest ranking for any Arab country for the second year running, and ahead of a number of European and Asian economies, including Holland (27th), Japan (29th), Turkey (55th) and Italy (56th). The UAE was amongst the ten countries whose performance had improved the most over the year.  The UAE's performance in these and other rankings emphasise, as the Minister of Economy, Sultan Al Mansouri, has noted, that the UAE economy is the most closely integrated of all the Arab economies into the global economic system. This process continues to develop, through the signature of bilateral agreements to promote collaboration with other countries. During the year, the agreement of avoidance of double taxation and fiscal evasion with Poland was amended while discussions on a new double taxation agreement began with the British Channel Island of Jersey, an important international finance centre with close links with the Gulf. Other agreements signed included one on customs matters with the Maldives while the promotion of air transport links – a key component of plans to promote and diversify the UAE's international trade – were signed with Myanmar, Burundi, Sierra Leone and Slovenia.  Locally, efforts have continued to enhance the country's business-friendly environment, both to attract inflows of foreign direct investment, FDI, and to facilitate trade, both of which will help to achieve balanced, sustainable development. These efforts have included reforms and updating of legislation and various procedures designed to facilitate investment.  During the year, the new Competition Law came into effect, which regulates economic activities and exploitation of Intellectual Property Rights (IPR). This is expected to promote competition and to contribute to efforts to meet the objectives of the UAE Vision 2021 which seeks to build a knowledge-based economy.  The draft federal budget for 2015 was adopted in October 2014, being set at UAE dirhams 49.1 billion (around US $ 13.36 billion), reflecting an increase of 2.9 billion dirhams (US $ 790 million) over the 2014 figure. Of this amount, around 49 per cent, or 24 billion dirhams (US $ 6.53 billion), has been allocated for service projects, social development and social benefits, including health, education and social services. This focus, according to His Highness Sheikh Mohammed bin Rashid, will be complemented by the development of government services, in accordance with the vision of the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, to provide prosperity, security and a decent life for all citizens.  Other projected expenditure in the 2015 budget includes 20 billion dirhams (US $ 5.44 billion), or 41 per cent, for the government affairs sector, along with 1.8 billion dirhams (3.7 per cent) for the infrastructure and economy sector, 1.6 billion (3.2 per cent) for financial assets and another 1 billion (2.1 per cent) for other federal spending.  Besides expenditure handled through the federal government, there has also been substantial investment throughout the year under the framework of the "Khalifa Initiative", launched in early 2011 by the President with follow-up from H.H. Sheikh Mohamed bin Zayed, which focusses on improving the infrastructure in the emirates of Sharjah, Ajman, Umm al-Qaiwain, Ra's al-Khaimah and Fujairah. Designed to ensure that inhabitants of these emirates should enjoy the same facilities as those living in the larger emirates of Abu Dhabi and Dubai, this programme, administered by the Ministry of Presidential Affairs, under Deputy Prime Minister H.H. Sheikh Mansour bin Zayed Al Nahyan, has already funded the construction of new hospitals, clinics, schools and housing programmes.  The programme received a new boost on the occasion of the UAE's National Day on 2nd December 2013 when President His Highness Sheikh Khalifa announced that a further 20 billion dirhams (US $5.44 billion) was to be allocated, along with a programme to build 10,000 houses for citizens, while the assistance provided to individual citizens through the Zayed Housing Programme, long-term, low interest loans, was increased from 500,000 dirhams (US $136,000) to 800,000 dirhams (US $218,000).  Turning to developments during the year, the tourist industry has for many years been an important part of an increasingly diversified economy and during 2014, the UAE has continued to strengthen its position as a top regional tourist destination.  Abu Dhabi's 156 hotels and hotel apartments reported that the period from January to September this year has been the most successful nine months ever so in terms of guest arrivals, guest nights, occupancy and revenue.  Figures released by the Abu Dhabi Tourism and Culture Authority, ADTCA, show that from the beginning of 2014 to the end of September, 2,498,672 guests checked into the emirate's accommodation, a 26 percent year-on-year increase. The arrivals delivered 7,502,924 guest nights, up 21 percent on the same period last year, with hotel occupancy rising 7 percent to 73 percent. Hotel revenues climbed to 4.27 billion dirhams (US$1.16 billion), 15 per cent growth over the same period in 2013, with room revenues rising 16 percent to 2.17 billion dirhams (US$591 million) and food and beverage income rising12 percent to 1.63 billion dirhams (US$442.6 million).  Paving the way for further growth is the massive expansion of Abu Dhabi International Airport, with the new Midfield terminal due to open in July 2017, and proceeding on schedule. Costing 10.8 billion dirhams, (US $2.94 billion), it will take the airport's passenger handling capacity from the current 17.5 million a year to 55 million a year. The new terminal will be used exclusively by local flag carrier and its code share partners. Etihad, like its near-neighbour, Emirates, in Dubai, has continued to win numerous prestigious international airline awards during the course of the year.  In Dubai, meanwhile, the local hospitality industry has continued to record substantial growth as it prepares to welcome visitors from around the world for the DUBAI EXPO 2020. By then, there are expected to be around 160,000 hotel rooms in Dubai.  In the first half of 2014, local hotels welcomed more than 5.8 million tourists, the highest number on record, with increases across all key indicators, including hotel establishment guests, hotel and hotel apartment room revenues, food and beverage revenue and average length of stay. This was achieved despite a reduction of flights through Dubai international Airport due to refurbishment and upgrading of the runways, with strong growth being recorded from many key source markets, including China, Brazil, Australia and many European countries.  Since 1999, Dubai's vibrant hotel industry has already grown at a phenomenal rate. In that year, there were 378 properties comprising 254 hotels and 124 hotel apartments, offering a total of 25,188 rooms. Data released by the organisers of the Hotel Show Dubai 2014 show that, since then, a further 256 properties have been added, to reach a total of 634 establishments and 88,888 rooms – an increase of over 350 per cent. That is an average of 17 new hotels a year over the past 15 years.  With traffic through Dubai International Airport rapidly increasing, it is predicted soon to overtake London Heathrow as the world's busiest airport while, with Al Maktoum Airport, or Dubai World Central, at Jebel Ali also attracting more business, Dubai will soon become one of the world's most visited cities.  Elsewhere in the country, tourism is growing too, driven both by foreign visitors and by UAE residents travelling throughout the country. The Sharjah Commerce and Tourism Development Authority, SCTDA, for example, reported that during the first half of 2014, the number of visitors to the emirate reached one million, a 15 per cent increase over the same period in 2013. The number of hotel guest nights during the summer months, normally a quiet period, showed a six per cent increase.  In Ra's al-Khaimah, the opening of new hotels, managed by leading international operators, has helped to cope with the increase in visitors from the emirate's top five source markets, led by the rest of the UAE, followed by Germany, Russia, the UK and India. A total of 330,048 visitors arrived in the first half of 2014.  Confidence in other sectors of the economy has continued to grow, with an improvement in sentiment being particularly noticeable in the property sector, both for local purchasers and for foreign investors. With the dark days of the 2008 slump in property prices now a fading memory, a number of major new development projects have been announced, not only in Abu Dhabi and Dubai, but also in the other emirates.  In Abu Dhabi, for example, investors flocked to snap up properties announced in the key locations of Sa'adiyat island and Yas Island, while the opening, in November, of the enormous Yas Mall, one of the largest in the Middle East and built by leading property developer Aldar, is expected to further drive demand for new accommodation, both for residential use and for investment. As construction continues of the major new museums planned for Sa'adiyat, including the Louvre – Abu Dhabi, the Guggenheim – Abu Dhabi and the Sheikh Zayed National Museum, this too will add further stimulus to the property sector, as well as providing an additional boost to the tourism industry.  In Dubai, one driving factor behind the optimism fuelling growth is the World EXPO 2020. Dubai's successful bid to host the EXPO was announced in late 2013, and Dubai EXPO 2020 will be the first EXPO to held anywhere in a region that extends from Morocco to India. Expected to attract several million visitors, it will also create thousands of new jobs as well as enormous demand for new facilities, including housing and hotel rooms. Several key projects placed on hold at the time of the 2008 downturn have been dusted off and are now off the drawing board and into the construction phase.  Also well under way is work on Mohammed bin Rashid City, a mixed-use development that, when complete, will include a park able to receive 35 million visitors yearly, the largest family leisure and entertainment complex in the Middle East, Africa and the Indian Subcontinent. Within the park will be more than 100 new hotels. Other projects within MBR City include the Mall of the World, which will be the largest anywhere, art galleries and the world's largest swimming pool, 40 acres in size. Despite continued growth in sectors such as tourism, construction and real estate, the oil and gas industry remains the largest contributor to the UAE's Gross Domestic Product. Overall, the UAE has the fourth largest oil and fifth largest gas reserves in the world, most of these being found in Abu Dhabi, both offshore and onshore.  A heavy programme of investment in Abu Dhabi continues as the emirate's Supreme Petroleum Council and the Abu Dhabi National Oil Company, ADNOC, seek to achieve a target of a sustainable production level of 3.5 million barrels per day by 2017. The current production rate is around 2.85 million bpd.  At the offshore Upper Zakum field, Abu Dhabi's largest, with estimated reserves of 50 billion barrels, which is operated by ADNOC in partnership with ExxonMobil and Jodco, as much as US $14 billion will be invested to increase production from the current 585,000 bpd, first to 750,000 bpd and then, by 2024, to 1 million bpd. Onshore, the Abu Dhabi Company for Onshore Oil Operations, ADCO, 100% owned by ADNOC since the expiry of the original concession agreement in January 2014, plans to invest a further US$5 billion to $7bn to meet its production target of 1.8 million barrels per day (bpd) by the end of 2017. Several major international companies, including several which were formerly partners in the original concession, are bidding for stakes in a new ADCO concession agreement. A number of new entrants into the UAE's oil industry, like the Korean National Oil company, KNOC, are also exploring for new fields. Overall, as much as US $60 billion is expected to be invested in field development by 2017, some of this being allocated to the introduction of the latest enhanced oil recovery, EOR, techniques. Lookingfurther ahead, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister and Ruler of Dubai, launched during the year the National Strategy for Innovation, which aims to make the UAE one of the most innovative countries in the world by 2021. One announcement in September which attracted international attention was the establishment of the UAE Space Agency and the signature of an agreement between the Agency and the Emirates Institution for Advanced Science and Technology, EIAST, to build the first Arabic-Islamic probe to Mars under the supervision of the Agency.  For projects like this to come to fruition, of course, the UAE needs to continue to develop the skills and performance of all of its citizens, both men and women. While the continued improvement of education, at all levels, is an important part of this process, it is also important to develop a strong commitment both to striving for excellence at a personal level and to instil a desire amongst the country's youth to contribute in their own way to the country's future growth. This has prompted a major effort to promote recognition of, and pride in, the UAE's national identity. In late 2014, a new programme was introduced to achieve some of these objectives, the launching of a military national service scheme, compulsory for young men and voluntary for women. It applies to all those between 18 and 30. Those who have completed secondary school will serve for nine months, while those who have failed to complete their schooling will serve for two years. Plans to establish a new national defence and reserve force have also been announced. While the military service programme is expected to result in increased long-term recruitment into the armed forces, one other key benefit from the programme will be the impact it will have on those who, having completed their term, return to civilian life. The experience of working with others as a team and of learning both to receive and to give orders is likely to prove beneficial to all in their future careers, with a consequent benefit to the country's continued growth. While the UAE is determined to pursue its economic growth, it is, at the same time, aware of the need to ensure that development is sustainable. Part of this is the recognition that natural resources are exhaustible, and need to be used wisely, coupled with the understanding that the country must play its part, along with others, to efforts to deal with the global threat posed by climate change. In September this year, the UAE hosted Abu Dhabi Ascent, a preparatory meeting for a climate summit in New York for heads of state that is currently being planned. The event, according to the Foreign Minister, H.H. Sheikh Abdullah bin Zayed Al Nahyan, was a tribute to the central role the nation now plays in supporting practical actions to address climate change.  "Our contribution is based on a combination of strong domestic action, international investment, and support for international cooperation. In barely two generations we have built a modern nation in the desert. This remarkable achievement owes much to three principles that have guided us throughout our history: a profound appreciation for the natural world, and for the natural resources on which we all depend, openness and international cooperation, and the fact that our country is built on the principle that we should never lose sight of the long term vision. The world continues to present new challenges, whether from political instability, war, natural disasters or financial crises. But while meeting these challenges we must keep an eye on the horizon, to ensure our long-term welfare." The UAE has invested at home and abroad in solutions to the climate challenge, leading the region in deploying clean energy, including four nuclear power stations that are now under construction and the world's largest concentrating solar power plant, Shams 1, developed by Masdar. "We are deploying energy-saving infrastructure, from Dubai's world-class light rail system to a ban on traditional light bulbs, "Sheikh Abdullah said."We support the development of crops that can thrive in arid conditions and that use less fresh water, and we are investing in the future, with world-class innovation centres such as Masdar, which is both a world-leading sustainable urban development and the home of the Masdar Institute, a postgraduate education and research centre for clean technologies." The UAE's rising population and the expanding economy continue to prompt increasing demand for water and electricity, and capital expenditure on desalination and power generation plants is an important component of both local and federal plans.  At the same time, however, efforts continue to educate UAE residents about the need to adopt a more sustainable lifestyle and to curb unnecessary consumption. As part of this, the 'Emirates Green Card' system was introduced during the year, to recognise devices that promote the rationalisation and reduction of water consumption.  The protection of the environment also remains an important theme. One particular area of attention has been the country's quarrying industry, now expanding again in response to demand from the reviving construction sector. Whereas a few years ago, there was no effective regulation of quarrying, leading to complaints from nearby residents about pollution of local water resources, dust pollution and damage being caused by blasting operations, tough new regulations have been imposed by the Ministry of Environment and Water. Supervised by local bodies like the Fujairah Natural Resources Corporation, these regulations have already led to the closing of some quarries or the imposition of heavy fines. The long-term objective is to ensure that quarry operators will abide by international standards.  One important feature of the United Arab Emirates is the diversity of its population. It hosts millions of workers of more than 200 nationalities from around the globe, all drawn to the country by the economic opportunities that it offers. Their presence is testimony to the cultural, social and religious tolerance that is a fundamental part of the philosophy that underpins the state.  The Government is committed to the implementation of comprehensive strategies to protect their rights according to the prevailing labour legislation, in particular for those in lower-paid jobs. The Ministry of Labor has developed a strategy to ensure the right of workers to receive their wages, as well as mechanisms to achieve more flexibility and freedom of movement between different jobs and to provide workers with suitable housing and a safe working environment.  Other measures cover both pre- and post-departure needs of workers, beginning in the country of origin (for instance, by shielding workers from illegal recruiters), continuing after arrival in the country of destination (through, for example, measures curbing abuse and non-payment of wages), and on return and reintegration back home. Many of these initiatives are implemented in association with the Governments of labour-supplying countries, since it is recognised by the UAE that many of the problems that affect the labour force, such as debts incurred when they are originally recruited, can only be effectively tackled in their country of origin.  Besides working to enhance the protection of the rights of its immigrant labour force, the UAE has also continued to participate actively in the international campaign to eradicate human trafficking. In common with many other UAE initiatives in the field of its external activities, much of the work in this field is done in collaboration with the United Nations and its specialised agencies.  In a speech in August on the occasion of the UN's World Day Against Human Trafficking, the Minister of State for Foreign Affairs, Dr. Anwar Gargash, who is also Chairman of the National Committee to Combat Human Trafficking, noted that the UAE was committed to play a role in the campaign. "This is an occasion to highlight our keen desire to coordinate with the international efforts to raise awareness among all entities concerned about the impacts of trafficking in order to achieve positive results at local, regional and international levels," he said, explaining the UAE's own '5 Ps' strategy of Prevention, Prosecution, Punishment, Protection and Promotion of International Cooperation. While the Government of the United Arab Emirates has, naturally, focused much of its attention over the past year on its key objectives of promoting the country's economic and social development, to benefit both its own citizens and expatriate residents, it has, of course, also been engaged in efforts to respond to the rising turmoil in the Middle East and North Africa region, and to continue its long-established policy of contributing humanitarian and other assistance to the victims of natural disasters.  Prominent among the issues is the continued escalation of violence in Syria and Iraq. In the former, conflict between the regime of Bashar Al Assad and its opponents, including the terrorist organisationsDa'esh and Jebhat al-Nusra, has led to an estimated death toll of over 200,000. Up to 3 million people are now believed to have fled to neighboring countries, with an estimated 6.5 million more people internally displaced. In Iraq, advances by Da'esh in the centre and north of the country displaced hundreds of thousands more people as the terrorist group embarked on an orgy of slaughter.  In September, the Ministry of Foreign Affairs issued a statement which said, in part, that the UAE "expresses its deepest concerns and strongest condemnation of terror acts and criminal practices of violent extremists."  In particular, it condemned "the atrocities of the so-called Da'esh, which aims to kill, terrorise, and displace civilians, ransack property, and demolish historic and religious sites."  The UAE, the statement noted, abhorred this indiscriminate violence and destruction, including mass executions, expulsions, and the abduction and enslavement of innocent women and children, adding that these actions undermine regional and international stability and threaten universal humanitarian values, cultural heritage, and norms of tolerance, multiculturalism, and religious diversity. "The insidious ideologies" on which such terrorist groups as Da'esh and Al-Qaeda are based do not reflect the peaceful teachings of Islam, the Ministry said. The United Arab Emirates has joined over fifty other countries in the campaign to degrade and defeat Da'esh on the ground, with planes from the UAE air force flying dozens of sorties against Da'esh targets.  In his speech to the United Nations General Assembly, in September, Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan noted:  "The UAE has announced its full support for the international efforts to combat the terrorism of Da'esh, believing that such a war on terrorism will not lead to a marginalisation of Sunni Muslims, will not lead to a dismemberment of the components of the people of Iraq and will not lead to intervention by foreign powers with subversive agendas."  The security of Iraq is an integral part of the region's security, he noted, adding that "It is important for all of us to ensure its political and territorial unity." Iraq urgently needed, he said, the adoption of a true and comprehensive national programme that rejects violence and includes all the elements of the Iraqi people, without exclusion or favoritism.  In a speech to the United Nations Security Council later in the year, H.H. Sheikh Abdullah added: "I would like to stress in this forum as an Arab and Muslim that I categorically reject that the terrorist organisation 'Da'esh' should be described as 'the Islamic State." It is, he said, nothing more than "a terrorist and criminal gang."  As part of its contribution to the fight against terrorism, the UAE hosts the International Centre of Excellence against Violent Extremism (Hedayah) in Abu Dhabi, while on 19th July, the UAE announced the establishment of the "Muslim Council of Elders," an independent, international body of scholars from Muslim countries, to promote the tolerance and values that lie at the core of the Islamic faith.  In November, in further confirmation of the UAE's opposition to terrorism, the Cabinet announced a list of 85 organisations it considered to be practising or promoting terrorist acts. Besides Da'esh and Jebhat al-Nusra, and the Boko Haram group in Nigeria, the list also included the international Muslim Brotherhood and all of its branches or affiliates, both within the Middle East and the rest of the Islamic world, as well as further afield. UAE banks were subsequently instructed that dealing with any of the organisations was henceforth banned, under the terms of legislation preventing the facilitation of any financing for terrorism.  The fight against terrorism, however, is not confined to the military political or ideological field, nor can it be confined to one particular part of the globe.  In a major newspaper article written in September, His Highness Sheikh Mohammed bin Rashid, UAE Vice president and Prime Minister and Ruler of Dubai, noted that : "The global financial crisis taught the world how profoundly interdependent our economies have become. In today's crisis of extremism, we must recognise that we are just as interdependent for our security, as is clear in the current struggle to defeat Da'esh."  "We must acknowledge," he said, "that we cannot extinguish the fires of fanaticism by force alone. The world must unite behind a holistic drive to discredit the ideology that gives the extremists their power, and to restore hope and dignity to those whom they would recruit."  "Da'esh certainly can – and will – be defeated," he added. "But military containment is only a partial solution. Lasting peace requires three bigger ingredients: winning the intellectual battle; upgrading weak governance; and grassroots human development."  "Da'esh is a barbarous and brutal organisation," the Vice President wrote. "It represents neither Islam nor humanity's most basic values… What we are fighting is not just a terrorist organisation, but the embodiment of a malicious ideology that must be defeated intellectually."  "The destruction of terrorist groups is not enough to bring lasting peace. We must also strike at the root, to deprive their dangerous ideology of the power to rise again among people left vulnerable by an environment of hopelessness and desperation." The solution, he said, has three components. The first is the need "to counter malignant ideas with enlightened thinking, open minds and an attitude of tolerance and acceptance." The second is support for efforts by governments to create stable institutions and deliver real services to their peoples. "When governments fail to address instability, legitimate grievances and persistent serious challenges, they create an ideal environment for hateful ideologies to incubate."  The third component, H.H. Sheikh Mohammed wrote, "is to address urgently the black holes in human development that afflict many areas of the Middle East," which he described as an international responsibility.  "Our region is home to more than 200 million young people. We have the opportunity to inspire them with hope and to direct their energies to improving their lives and the lives of those around them. If we fail, we will abandon them to emptiness, unemployment, and the malicious ideologies of terrorism… There is no power stronger than that of hope for a better life," he concluded.  Despite the need to focus on the conflict raging in the Middle East, the UAE has continued to take other initiatives to promote peace and security in the region. These included the sponsorship, in September, of the 4th Counter Piracy Conference, held in Dubai. As a maritime nation, the country has a direct and strong interest in the security of international shipping.  Addressing the conference, H.H. Sheikh Abdullah noted that there had been a sharp decline in pirate attacks around the coast of Somalia, down from 236 in 2011 to less than 10 in the first nine months of 2014. This, he said, was testimony to the effectiveness of international counter-piracy cooperation in the Horn of Africa.  The UAE also cooperates closely with its partners in Somalia and the Seychelles to build local capacity, tackle root causes of maritime piracy, and prosecute offenders. "However, there is no room for complacency", Sheikh Abdullah said. "Although incidents of piracy have plummeted, other forms of crime on the high seas are on the rise. These include illegal fishing, human trafficking, the smuggling of arms and drugs, and armed robbery. The threats to regional security posed by these crimes amount to those of terrorist acts. And they are becoming difficult to control and contain."  Elsewhere in the region, the UAE has continued to call for the restoration of its sovereignty over the three islands of Abu Musa and Greater and Lesser Tunb, occupied by Iran since 1971. H.H. Sheikh Abdullah told the UN General Assembly in September that the UAE rejected the continuing Iranian occupation and that restoring UAE sovereignty is in the interest of stability and security in the region.  The United Arab Emirates has, since its establishment in 1971, provided assistance to that in need because of conflicts and natural disasters. Through the Emirates Red Crescent and a number of other bodies, including the humanitarian funds established by the President and Vice President, emergency assistance worth several hundred million dollars has been sent during the year to many countries.  Much, of course, has gone to refugees from the conflicts in Syria and Iraq, in particular to Syrian refugees now living in Jordan and Lebanon. In Jordan, the UAE Red Crescent Authority has established a special camp at Mrajeeb Al Fhood to accommodate over 10,000 people, which provides not only food and shelter, but also healthcare and access to education for all children. Here, as elsewhere, close co-ordination is maintained with international relief agencies and other international organisations. Other assistance was provided to Iraqis who fled in the Kurdistan region of the country after the rapid advance of the Da'esh terrorist organization during the summer.  A summary of the UAE's role in the provision of humanitarian and other emergency relief was provided late in the year by SheikhaLubna bint Khalid Al Qasimi, Minister of International Cooperation and Development, MICAD, and Head of the U.A.E. Committee for the Coordination of Humanitarian Foreign Aid, in a speech at the "Berlin Conference on the Syrian Refugee Situation – Supporting Stability in the Region".  Through government assistance, grants from the UAE's own humanitarian foundations and through UN agencies, she noted, Dh 378 million (US $103 million) had been provided to displaced people in Syria, with other projects including the provision of food security, health care, water supplies and sewerage projects, education and shelters for 420,000 Syrian refugees at Al Zaartari and Azraq Refugees Camps in Jordan. A UAE field hospital has also been established at Mafraq, Jordan, which can provide medical services to over 8,000 people a day. In July, President His Highness Sheikh Khalifa bin Zayed Al Nahyan instructed the allocation of 92 million dirhams (US$ 25m) in emergency humanitarian assistance for the people of Gaza, while in October a donation of US $200 million towards the cost of reconstruction was announced at the Gaza Donor Conference in Cairo, Egypt.  In a speech delivered to the conference, the Foreign Minister, H.H. Sheikh Abdullah, noted: "We again reiterate the UAE's commitment to participate and provide assistance for the rebuilding of Gaza and our support for the Palestinian people through the mobilisation of resources and the provision of requirements. We also renew our commitment to the Peace Initiative in the Middle East which urges all parties to work diligently towards the realisation of a comprehensive peace." Elsewhere, the UAE has continued its commitment to the provision of humanitarian assistance for those in need, as a result of physical disasters, and also to programmes designed to improve infrastructure, promote development and eradicate poverty. During the last three years, according to figures announced by SheikhaLubna, the UAE has provided 8.9 billion dirhams (US $2.42 billion) in such programmes.  In a statement on the occasion of the International Day for the Eradication of Poverty, SheikhaLubna said, "The humanitarian vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and of the Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, as well as the relentless follow-up of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, is reflected in the UAE's praiseworthy manner of addressing the international poverty issue by directing its efforts and effective contributions to alleviate the suffering of people in underprivileged societies." She added that the UAE has become a role model in this respect due to its commitment to achieving the objectives of the Millennium Development Goals, which prioritise poverty eradication. Other aid has been provided by bodies such as the Abu Dhabi Fund for Development and Dubai Cares to support development programmes, both in terms of infrastructure and the financing of educational and health care programmes.  In July, speaking on the occasion of Zayed Humanitarian Day, SheikhaLubna said that the celebrations were a reminder of the humanity of the late Sheikh Zayed bin Sultan Al Nahyan.  The helping hands of the UAE, she said, extended to all needy people in the world, regardless of race, religion or colour, to alleviate the suffering of those affected by conflict, humanitarian crises and natural disasters, and provide them with a decent living.  She noted that, according to preliminary data of the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD), the UAE is the top country in the world in terms of its development assistance grants as a portion of its national income.  SheikhaLubna added that the late Sheikh Zayed represents the source of generosity and giving, and he is the one who had instilled a love of giving in the hearts of his people.  Besides the emergency relief aid provided to victims of conflict in the Middle East, noted above, the UAE's generosity has also extended to other countries.  In Pakistan, for example, the UAE Pakistan Aid Project, initiated by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, has provided funds of US $113 million so far for development, rebuilding and infra-structure projects. Between June and September, more than 13.2 million Pakistani children were inoculated against polio, in collaboration with the Pakistani Government and the World Health Organisation. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has donated 440 million dirhams, (US $ 120 million), to support global efforts in eradicating polio by 2018.  AlaAlwan, World Health Organisation Regional Director for the Eastern Mediterranean, commented that "The UAE's support for the polio vaccination campaign in Pakistan stands out as a model for solidarity that should prevail in the international community in the field of combating diseases and epidemics that know no geographic borders and indiscriminately hit all people alike."  With regard to the Ebola epidemic, the UAE Ministry of International Cooperation and Development, and the United Nations Children's Fund, UNICEF, are partnering to implement a US $ 5 million project to fight the virus in the three West African nations of Liberia, Guinea and Sierra Leone. Other overseas aid projects begun or continuing throughout 2014 include humanitarian aid to Yemen, Egypt, Somalia, Jordan and Afghanistan.  During 2014, the UAE has faced many challenges. Internally, the need for ever-improved services and facilities for the country's population has necessitated extensive new investment in areas such as education, social services, job creation, housing and infrastructure.  Externally, the political and security situation within the region and further afield has posed other challenges, such as those presented by the rise in terrorist-related activity, while the urgent need for humanitarian assistance globally is now at perhaps at its highest at any time in the last half-century.  Both have meant that a firm, confident and determined leadership of the country has been essential. It is to the credit of the UAE's leaders, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, that, as the year draws to a close, the country can look back on another twelve months of steady progress at home and at an effective discharging of its responsibilities to the broader international community.

S. Korea, ASEAN to expand customs cooperation to fuel trade

South Korea and the Association of Southeast Asian Nations have agreed to expand customs-related cooperation to fuel trade, the government said Friday.
  

The Korea Customs Service said the understanding was reached at the 11th annual meeting of South Korea-ASEAN customs chiefs in Brunei on Thursday.
  

The 10-member economic bloc represents the second-largest export market for locally made goods after China, but companies taking full advantage of the free trade agreement reached in 2005 stood at just 37 percent as of 2014.
  

In the first four months of 2015, exports to ASEAN reached $38.55 billion. In the same period shipments to China stood at $45.66 billion, while numbers for the United States hit $23.58 billion
   

At the gathering, the trading partners agreed to work closely to follow through on the Agreement of Trade Facilitation reached by the World Trade Organization in November and pledged to push forward the signing of an authorized economic operator system and mutual recognition arrangement, the service said.
  

Both systems are designed to give preferential clearance to products made by companies that have a track record for transparent customs reporting.
  

The KCS also said it plans to offer assistance to ASEAN countries to better train customs officials. (Yonhap)

Korean Air heiress to get appeals verdict on ‘nut rage’ case Friday

A high court will issue its verdict on Cho Hyun-ah, former executive vice president of Korean Air at the center of the so-called “nut rage” incident, on Friday.

Cho received a one-year jail term in February for disrupting a flight and breaking aviation safety laws over her dissatisfaction with the cabin service. 

Shortly after, the attorney for the former Korean Air executive appealed the case to reduce her initial sentence, pleading that she was “deeply regretful about her actions.”

Former Korean Air executive Cho Hyun-ah (Yonhap)

The “nut rage” case began when the 40-year-old de facto heiress of Korean Air ordered a departing jet from New York to Seoul in December 2014 to return to the terminal gate at John F. Kennedy International Airport, in order to deplane the manager of the cabin crew.

Cho had been dissatisfied with the way that a flight attendant had served her macadamia nuts -- in a bag and not on a plate. Angered by the service, she went on a rampage, assaulting the crew member and the cabin crew manager for poorly carrying out his duties.

The Seoul Seobu District Court found Cho guilty of forcing flight route deviation, obstructing aviation safety regulations, disrupting the flight and physically and verbally assaulting two cabin crew members.

During the appeals hearing last month, the prosecution called for a three-year jail term for Cho, asserting that “a one-year prison term is too light, given the gravity of the case, the scale of the extensive damages and Cho’s attitude.”

Kim Do-hee, the flight attendant at the center of the case, filed a petition to the court last weekend, claiming that the “nut rage” case led to “serious damages to her psyche and reputation.” 

“The 14 hours on board of serving former executive vice president Cho Hyun-ah was filled with memories of fear and anxiety,” Kim wrote. “I cannot even fathom returning to Korean Air, in fear or retribution from the Cho family.”

In March, Kim also filed a civil lawsuit in a U.S. court, seeking further compensation from Cho.

The appeals verdict for the case will be delivered at 10 a.m. on Friday at the Seoul High Court.

By Sohn Ji-young (jys@heraldcorp.com)

Alibaba launches shopping platform in S. Korea

Chinese e-commerce giant Alibaba Group on Monday opened a shopping platform in South Korea that promises local companies a chance to make headway in the world's second-largest economy, the government said.
  

The launch of the business-to-consumer Tmall shopping platform is aimed at selling South Koreans agricultural and manufactured goods as well as tourism-related services, benefiting local companies, the finance ministry said.
  

"Alibaba has pledged to provide comprehensive marketing and consulting services to merchants that have signed up to sell their products on the Tmall site," it said.
  

The Korea International Trade Association and the farm ministry will help make it possible for small and medium enterprises to sell products on Tmall, which effectively controls China's Internet marketplace, it added.
  

Companies that want to sell on the platform must pay an annual fee and give Alibaba a commission for each product sold.
  

China's top Internet company also will offer a three-month-long internship program to South Korean youths starting in July, so they can get a better grasp of Chinese consumers and the country's domestic market, the ministry said.
  

The 20 people to be sent to China will gain first-hand experience with Alibaba's e-commerce platform. Such experience can make it possible for these same people to acquire the know how to become the next generation of experts capable of helping local firms sell products directly to Chinese consumers on-line.
  

The finance ministry said Alibaba, moreover, wants to make South Korea one of its global logistics hubs and said it is seeking a partner for this endeavor.
  

In the opening event held in southern Seoul, Finance Minister Choi Kyung-hwan pointed out that Tmall is the most frequented on-line marketplace in China.
  

He stressed that South Korea can no longer rely on the export of intermediate goods to China with the slowdown in global trade, and must now aim to tap into the country's vast consumer market. Intermediate goods are used to make finished products that are shipped abroad.
  

"There is solid demand for South Korean products among Chinese consumers who have been attracted to things such as fashion, cosmetics and even quality agricultural products," the policymaker said. "If this kind of demand is mated to an effective e-commerce arrangement, it can greatly contribute to the success of local exporters."
  

He compared Tmall's opening to moving popular shops in downtown Seoul to Beijing and expecting healthy sales.
  

The ministry, meanwhile, said Choi held talks with Jack Ma, the head of Alibaba, at the launch event. It said the meeting was their third in less than a year, with both men exchanging views on expanding bilateral e-commerce cooperation that can benefit all sides. (Yonhap)

S. Korean women lag far behind men in wages

South Korean female workers lagged far behind their male counterparts in wages in 2013, government data showed Tuesday, highlighting a deep gender gap in the country's workforce.
  

The average salary of a female worker reached 21 million won ($19,200) in 2013, just 57.5 percent of what a male counterpart took home, according to the data by the National Tax Service.
  

The amount represents a 21.4 percent jump from 2009, but it trails the 22.3 percent increase for men over the same period. The average salary of a male worker stood at 30 million in 2009 before rising to 37 million in 2013.
  

Among female workers, those in the financial and insurance sectors were paid the highest with an average of 42 million won, with people employed in public utilities, such as electricity and gas, getting 38 million. Those hired in the real-estate sector got paid 31 million won per year.
  

By age, women in their 30s and 40s had an average salary of 25 million won and 24 million won, each, while those under 20 got 17 million.
  

The NTS said there were 40,609 women who earned more than 100 million won in 2013, or just 0.6 percent of the total female workforce.
  

By industry, women made up 19.8 percent of all workers in manufacturing, followed by 18.9 percent in the personnel service sector and 10.7 percent of health care.
  

Overall, women made up 39.3 percent of the workforce that stood at 16.35 million in 2013, up from 36.6 percent in 2009.
  

The data also showed women set up 434,000 new businesses in 2013, with those related to real estate making up 24.4 percent of the total. (Yonhap)

Korea, India to upgrade partnership

South Korean President Park Geun-hye and her Indian counterpart Narendra Modi on Monday agreed to elevate the level of bilateral ties to a “special strategic partnership” and start negotiations to revise a comprehensive economic partnership agreement, which is equivalent to a free trade deal, by June next year.

At a summit held at Cheong Wa Dae, the leaders discussed ways to bolster cooperation in a wide range of fields, including diplomacy, security, economics, culture and science technology, to take the bilateral ties to a “qualitatively” higher level.

“Prime Minister Modi and I have agreed to upgrade the bilateral relationship to a ‘special strategic partnership’ today five years after the two countries established CEPA, to promote a wider range of cooperation with India, one of the fast-emerging countries in the world,” said Park at a joint press conference after the summit.

The leaders agreed to hold a bilateral summit every year, as well as a separate meeting between foreign ministers, to strengthen communication channels.

President Park Geun-hye and Indian Prime Minister Narendra Modi attend a joint news conference at Cheong Wa Dae on Monday. (Park Hyun-koo/The Korea Herald)

After the summit, the two also observed the signing of the revised double taxation avoidance agreement and the memorandum of understanding on boosting bilateral cooperation on steel, shipbuilding and maritime transport industries. The South Korean government also expressed its intention to provide $10 billion for mutual cooperation in infrastructure and export credits for smart cities, railways, power generation and transmission projects in India, according to a joint statement issued after the summit.

The two sides also agreed to boost cooperation in the aerospace sector by promoting ties between the Indian Space Research Organization and the Korea Aerospace Research Institute. 

On security front, the leaders expressed concern over Pyongyang’s development of nuclear weapons and ballistic missile programs, stating that such moves are in violation of its international obligation and commitments.

They also reiterated their commitment to eradicate terrorism for world peace and stability. On culture, the two sides agreed to jointly produce film and TV content and promote human exchanges to better understanding each other.

The Indian premier arrived in Seoul on Monday for a two-day trip. South Korea is his last destination of a three-nation trip aimed at enhancing ties with India’s eastern neighbors. Before South Korea, Modi visited China and Mongolia. 

During the summit, Modi requested the South Korean leader to provide investment and support for his “Make in India” drive ― aimed at bolstering India’s manufacturing sector ― and its participation in infrastructure projects including one to build “smart cities” across the world’s largest democracy.

The meeting is expected to offer an opportunity for South Korea to strengthen ties with India, dubbed as “Next China” due to its market size and also its diplomatic status. 

The leaders were holding the summit for the second time after their previous meeting held on the sidelines of the East Asia Summit and ASEAN Plus Three Summit. At the meeting last year, they discussed ways to improve a strategic partnership signed in 2010. 

Early last year, the two countries had agreed to elevate the level of CEPA, during Park’s official visit to India. But market insiders said that the level of free trade has remained too low for South Korean companies to enter one of the world’s fast-emerging markets. 

The summit between Park and Modi was, however, expected to offer Korean businesses wider access to the world’s second-most populous market of 1.2 billion. India is South Korea’s 12th trading partner and is expected to become a crucial partner for its geopolitical importance.

Modi’s “Make in India” drive is likely to be highlighted during his meetings with Korean business leaders on Tuesday.

By Cho Chung-un (christory@heraldcorp.com)