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from Left field:

Tiger still the inspiration despite Yang’s major success

yang

Yang Yong-eun's shock win at the PGA Championship ended an embarrassing drought in major championships for the male of the species in staunchly patriarchal South Korea, where men are men and the women -- well, the women play golf.

Since Pak Se-ri's trailblazing triumphs at the US Women's Open and LPGA Championship in 1998, South Korean women piled up nine more major titles. Before Yang's victory on Sunday, Korean men had never come close, KJ Choi giving false hope at the 2004 Masters before finishing third.

But while Pak's wins sparked a South Korean invasion of the LPGA Tour, don't expect Yang's success to open the floodgates to hordes of young Korean guns determined to redress the balance in the battle of the sexes.

Nor will it inspire a generation of young Asians to take up the game, despite what some say in the media.

from Oddly Enough Blog:

These guys are special forces, huh?

Quick quiz: The guys in this photo are...

a) Practicing an ancient Asian cure for backaches

b) Rehearsing for a production of "Oklahoma" at a men's penitentiary

c) Still trying to get the hang of a wheelbarrow race

d) Attending that annual Siamese twin convention in Raleigh

e) They're doing - oh, PLEASE don't make me say it here!

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South Korean special warfare command soldiers exercise before they conduct a sea infiltration drill during a photo call in Taean, South Korea, August 5, 2009. REUTERS/Choi Bu-Seok

More stuff from Oddly Enough

from Financial Regulatory Forum:

S.Korea eyes curbs on FX margin trading from Sept

KOREA    SEOUL, July 16 (Reuters) - South Korea will sharply lower the leverage investors can employ when trading currencies via margin trading to discourage speculative trading, the top financial regulatory agency said on Thursday.
   Investors will be required from September to deposit 5 percent of the value of their bets as collateral with brokers, up from the current 2 percent. Maximum leverage will be lowered to 20 times from 50 times at present.
   The Financial Services Commission said in a statement the move was aimed at putting the brakes on sharply increasing margin trading by mainly individual investors on the back of a jump in online trading.
   Margin trading allows investors to make leveraged bets on currencies and has grown increasingly popular in recent years among retail investors in South Korea and Japan.
   Such trading is carried out over the counter and the agency's move will have no impact on the spot currency market, the commission said.
   It said the value of foreign exchange margin trading amounted to 357.7 trillion won ($281.5 billion) for the first five months of this year, compared with 418.8 trillion won for all of last year and only 55.9 trillion won in 2007.
   South Korean investors, 99 percent of them individuals, lost 45.5 billion won from the margin trading for the January-May period. ($1=1270.6 Won) (Reporting by Yoo Choonsik; Editing by Jonathan Hopfner) ((choonsik.yoo@thomsonreuters.com; +82 2 3704 5580; Reuters Messaging: choonsik.yoo.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: KOREA FOREX/MARGIN
  
Thursday, 16 July 2009 04:00:06RTRS [nSEO213834] {C}ENDS

from Global News Journal:

How Ill is Kim Jong-il?

Photo:A compilation by Reuters of pool photographs and images provided by North Korea's KCNA news agency showing North Korean leader Kim Jong-il from 2004 to 2009. The photograph in the lower right was released this week by KCNA

By Jon Herskovitz

The image the world once had of North Korean leader Kim Jong-il, with a trademark paunch, platform shoes and a bouffant hair-do, is gone and may never come back. He has now become a gaunt figure with thinning hair who has trouble walking in normal shoes, let alone ones with heels 8-10 centimetres (3-4 inches) high like he used to wear.

from Financial Regulatory Forum:

S.Korea toughens rules over cash-managing accounts

    SEOUL, July 9 (Reuters) - South Korea will tighten supervision over cash-managing accounts provided by brokerage companies, a regulator said on Thursday, as concerns rise about heightened competition for banking services.
   Under the move, the Financial Services Commission (FSC) will step up monitoring of cash management accounts' (CMA) marketing and risk management by introducing a certain ratio of cash assets at brokerage firms, the industry watchdog said in a statement.
   Cash management accounts of securities houses have lured individual investors with higher yields in the past few years, and started money transfer services from July.
   CMAs' outstanding value stood at a combined 39 trillion won ($30.54 billion) as of July 6, up from 30.7 trillion won at the end of December.
  (Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)
  ((yeonhee.kim@thomsonreuters.com; +82 2 3704 5646; Reuters Messaging: yeonhee.kim.reuters.com@reuters.net))
  ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com)) ($1=1276.7 Won) Keywords: KOREA BROKERAGES/ACCOUNTS
  
Thursday, 09 July 2009 04:00:05RTRS [nSEO174980] {C}ENDS

from Financial Regulatory Forum:

S.Korea considers FX margin trading curbs -official

A South Korean bank clerk shows new 5,000-won ($4.93) bank notes at the headquarters of Woori Bank in Seoul    By Kim Yeon-hee and Lee Chang-ho
   SEOUL, July 8 (Reuters) - South Korea is considering imposing limits on currency margin trading to curb speculation, a senior official of the country's financial authority said on Wednesday, a move that may dent brokerage houses' efforts to expand into forex services.
   Margin trading allows investors to make leveraged bets on currencies and has grown increasingly popular in recent years among retail investors in South Korea and Japan.
   "We are considering a number of measures and will make an announcement soon," the official told Reuters, asking not to be identified until a decision was made.
   Steps to be taken could include raising the amount of collateral investors must park with margin brokers from the current 2 percent.
   Margin trades involve leverage of around 100 times or more than the amount of collateral, leaving the forex market more speculative and exposed to deep swings.
   Currently, about 20 currencies are traded via margin trading in South Korea, with the yen <JPY=> and euro <EUR=> the most popular.
   In April, the Nikkei business daily reported that Japan's Financial Services Agency was looking at limiting the maximum amount of leverage investors can employ for currency margin trading.
   Officials of futures trading firms are concerned about the upcoming curbs, saying they would limit their trading activity.
   But Chung Hae-geun, an executive managing director of Daewoo Securities, said the possible rules would bring forex margin trading into the regulatory boundary and help protect investors.
   South Korean brokerage companies, including Daewoo Securities <006800.KS> and Mirae Asset Securities <037620.KS>, have applied for licenses to offer forex margin and other futures trading, under a new capital markets law introduced in February.
   The won currency <KRW=> trimmed losses to close domestic trade at 1,273.50 against the dollar.
 (Additional reporting by Lee Soo-jung and Shin Jieun; Editing by Chris Lewis)
  ((yeonhee.kim@thomsonreuters.com; +82 2 3704 5646; Reuters Messaging: yeonhee.kim.reuters.com@reuters.net))
  ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))
Keywords: KOREA FOREX/MEASURES 
   
Wednesday, 08 July 2009 08:29:26RTRS [nSEO103521] {C}ENDS

from Financial Regulatory Forum:

South Korea says to toughen home-backed lending

   SEOUL, July 6 (Reuters) - South Korea will toughen mortgage lending by broadening tight loan ceilings to the whole of Seoul and surrounding cities from Tuesday, a regulator said on Monday, amid signs of possible asset price bubbles.
   The move by the Financial Supervisory Service (FSS) follows a survey by the Bank of Korea, which showed South Korean banks were more willing to expand lending to companies and households in the current quarter on expectations for an improving business environment. [ID:nSEO325874]
   "With a surge in home-backed loans raising concern about a possible deterioration in the debt-servicing abilities of households and instability in the financial system, the Financial Supervisory Service called on banks to strengthen risk management against rising home-backed loans," the regulatory agency said in a statement.
   Under the guidance, banks will be required to cut the ceiling to 50 percent of the market price of a home worth 600 million won ($472,800) or more, from 60 percent at present, starting from new loans provided from Tuesday onwards.
   Currently, the rule limiting mortgage loans on the basis of loan-to-value ratios is applied to three areas in Seoul where speculative trade has caused a spike in housing prices.
   The decision comes after the country's policymakers cautioned against increased liquidity in financial markets after a string of interest rate cuts and government stimulus spending, which sparked speculation of an interest rate increase.
   Financial regulators have tried to stem rising home-backed loans, which increased by a net 3 trillion won per month from January through May.
   South Korea's housing prices in June rose for a third consecutive month, data showed last week. [ID:nSEO144812]
 ($1=1269.0 Won)

from Financial Regulatory Forum:

S.Korea scrutinises bank M&A financing practices

Daewoo Centre Building, former Daewoo Group headquarters, which is being remodeled by Daewoo Engineering & Construction, is seen in Seoul June 29, 2009. South Korea's Kumho Asiana Group said it had decided to put Daewoo Engineering & Construction up for a sale to ease investors worries about its liquidity.   REUTERS/Lee Jae-Won (SOUTH KOREA BUSINESS)    SEOUL, July 2 (Reuters) - South Korea has started looking into banks' practice of participating in mergers and acquisitions deals as financial investors, an official said on Thursday, signalling a possible measure to limit M&A financing.
   The move comes as South Korea's Kumho Asiana Group faces liquidity problems after buying Daewoo Engineering & Construction <047040.KS> together with financial sponsors for 6.4 trillion won ($5 billion) in 2006.
   With the December deadline to buy back Daewoo shares from financial investors in a "put-back option" looming, Kumho on Sunday announced a plan to sell the country's No.3 builder. [ID:nSEO340774]
   "Put-back options could hurt the buyers' balance sheets, and in turn hurt their creditor banks, too," said an official of the Financial Services Commission (FSC), the financial watchdog. The official asked not to be named before thw watchdog completes its scrutiny.
   "We are looking into the matter from a broader perspective: how to monitor companies' asset quality before they worsen and how to get creditor banks to notice risk factors in M&A deals."
   Kumho had provided the right to financial investors, including Mirae Asset and domestic banks, to sell back Daewoo shares at 31,500 won per share around the end of this year. The price is more than double Thursday's closing price of 12,850 won.
   FSC Chairman Chin Dong-soo said in parliament on Wednesday that "put-back options" could cause problems, and the watchdog would review the issue.
   The FSC official said measures the government agency was considering included raising banks' voice in the activities of large business groups as creditors, which has weakened since conglomerates increased bond sales for fund-raising about a decade ago. ($1=1267.4 Won)

from Tales from the Trail:

The First Draft: Obama recipe – take crisis-filled agenda, add one Iran

There is a new crisis on the agenda for President Barack Obama.

While trying to revitalize a nosediving economy, rebuild the collapsing auto industry, rein in North Korea's unpredictable Kim Jong-il and overhaul the costly healthcare system, Obama now can ponder his response to an Iran reeling from a disputed election and the biggest street protests since the 1979 Islamic revolution.

Several leading Republicans have hammered Obama for what they say is a too cautious approach to the disputed vote that gave hardliner President Mahmoud Ahmadinejad a big win over former Prime Minister Mirhossein Mousavi. Obama said on Monday he was "deeply troubled" by the post-election violence but it was up to the Iranians to work out who their leaders will be.

from Global News Journal:

An Interview With South Korea’s Box Office Champ Director Bong Joon-ho

The South Korean director whose movie about a mutant river monster became the country's biggest box office hit has a new film on what might be an even more terrifying subject -- an maniacally obsessive mother.

Bong Joon-ho sat down last week for an interview with Reuters about his new movie called "Mother"that debuted last month at the Cannes International Film Festival and has quickly become one of South Korea's biggest hits of the year.

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