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from Photographers' Blog:

Waiting on widow’s island

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Geoje, South Korea

By Kim Hong-ji

After Germany was reunited in 1990, Korea has been the highest profile divided country in the world. The division has separated numerous families and made them miss each other. A few months ago, when the relationship between the two Koreas improved after five months of political tension, North Korea proposed a reunion ceremony for families who have been separated by the Korean War. Then it abruptly cancelled the ceremony, disappointing the families who have been waiting to reunite with long-lost relatives. Lots of separated families in the two Koreas are still living in great hope that they will be able to meet their loved ones some day.

Geoje island is a small and remote place in South Korea where 18 fisherman were abducted by North Korea while fishing in the disputed West Sea in December, 1972. Forty one years later, little is known about these husbands and sons, how they were abducted or where they may be living in North Korea. I only came to know about this incident when I heard one of the abducted fishermen, Jeon Wook-pyo, 68, escaped from North Korea and returned to South Korea a few months ago. I could not locate him and there is an ongoing investigation by the government. He was abducted 10 years before I was born and I had limited information to follow. Instead, I met a few grandmothers still living in a town heavy with grief for their lost family members. A widow who lost her husband and a mother who lost her child; just wishing they can be reunited in the town some day.

Kim Jeom-sun, 82, who lost her husband when he was abducted in 1972. She is now a grandmother living alone in a 10-square-yard house in Busan, east of the island. She left the island some twenty years ago due to the stigma - as if her husband was a betrayer who fled to the North. Much time has passed since then, but her memories stay with her. A few pictures hanging on the wall keep the memories lingering in her mind. “I have waited and waited until now.. even if he died in North Korea. I still wait for him.”

Ok Chul-soon, 82, also lost her husband, who was then the captain of Jeon’s vessel. She continued to live on the island after her husband was abducted in 1972. She also has only a few pictures of her husband. “After I applied for the family reunion, I bought a 18k gold necklace as a gift for him.” But a month later, she got a letter, which said that Park Doo-nam was dead. Park is the name of her husband.

from Global Investing:

Three snapshots for Wednesday

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This chart shows the wide dispersion in equity market performance so far this year. In local currency terms Korea has a total return of nearly 12% and Germany over 10%, this compares to Italy at-6% and Spain at -16%.

In contrast to last year, this has driven average correlations between equity markets lower.

from MacroScope:

Growth not enough to ease inequality: Oxfam

Rising income inequality in rich nations has cast doubt on the old adage, often upheld by the economics profession, that a rising tide lifts all boats. A new report from Oxfam reinforces the notion that wealth does not trickle down of its own accord. The anti-poverty advocacy group says sometimes actively redistributive policies may be needed to address huge income gaps. It also says that, contrary to conventional economic thinking, such policies will directly contribute to better growth rather than impede it.

Inequality, often viewed as an inevitable result of economic progress, in fact acts as a brake on growth. Among the best ways to assure inclusive, sustainable growth and fight poverty, finds the study, are policies that reduce inequality. […]

from Photographers' Blog:

The truce village of Panmunjom

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By Lee Jae-won

South Korea is surrounded by the sea on all sides but one. The country is virtually an island as it is bordered to the north by reclusive North Korea.

There is only one place, called a truce village, where South Koreans and visitors can see the border and soldiers from the secretive state.

from Photographers' Blog:

Be messy and be healthy

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Crowds flounder and scream in the gray mud. Crazed people struggle with each other, fighting fiercely to throw others into the mud. The streets of a small coastal village are messy with mud. Mud-covered pedestrians, some already tipsy, wander along the beachside streets. But this is not a battlefield or a disaster area. It’s typical scenery during the Boryeong Mud Festival.

The festival, which runs from July 16-24 this year, is one of South Korea’s most popular summer events. Around 2-3 million domestic and international festival-goers visit the beach during the event each year to enjoy mud-related activities such as mud slides, mud wrestling, a mud king contest and mud massages.

from Photographers' Blog:

Luxury dog care open for business

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Affluent South Koreans have just about every fashion accessory imaginable from designer clothes to handbags and the latest trend in Asia’s fourth biggest economy is small dogs.

Just like their well-groomed owners in the ritzy suburbs of the capital Seoul, pets are now big business for groomers, healthcare businesses and even mood music, helping to create a whole new service industry.

from George Chen:

Post-earthquake concept stocks

By George Chen
The opinions expressed are the author’s own.

Have you had breakfast or lunch yet? In Hong Kong, I’m guessing few people are choosing sushi these days.

Many restaurants in Hong Kong, even Japanese restaurants, have been quick to distance themselves from the crisis in Japan since the earthquake as concerns about food safety are growing in many Asia-Pacific cities, including Beijing, Seoul and Sydney.

from Russell Boyce:

Asia – A Week in Pictures January 23 2011

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As India heads towards their Republic Day celebrations, Prime Minister Singh makes minor adjustments to his cabinet while outside on the streets people demonstrate over food and fuel price inflation and corruption. Adnan Abidi produces a great picture as a middle-aged demonstrator gets to feel the full force of a police water canon. In stark contrast, B Mathur gets a glimpse of the dress rehearsal of the full military parade planned to celebrate India's independence where the security forces are deployed in a somewhat different manner.  Danish Siddiqui added to the file this week with a well seen picture to illustrate a government spending initiative with a man pulling a pipe across a building site, the shadow creating an eye like image that almost seems to wink at the viewer.  

INDIA/

Police use water canons to disperse supporters of India's main opposition Bharatiya Janata Party (BJP) during a protest in New Delhi January 18, 2011. Thousands of the supporters on Tuesday in New Delhi held a protest against a recent hike in petrol prices and high inflation. REUTERS/Adnan Abidi

from Davos Notebook:

Will Goldman’s new BRICwork stand up?

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RTXWLHHJim O'Neill, the Goldman Sachs economist who coined the term BRICs back in 2001, is adding four new countries to the elite club of emerging market economies. But does his new edifice have the same solid foundations?

In future, the BRIC economies of Brazil, Russia, China and India will be merged with those of Mexico, Indonesia, Turkey and South Korea under the banner “growth markets,” O'Neill told the Financial Times.

from Andrew Marshall:

Risks to watch in 2011

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Lu Yong of China reacts after a missed attempt during the men's 85kg weightlifting event at the 16th Asian Games in Guangzhou, Guangdong province, November 17, 2010. REUTERS/Mick Tsikas

For a summary of key political risks to watch in Asia in 2011, in PDF format with links to the risk outlooks for individual countries and to the best recent Reuters analyses, click here.

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