S. Korea jobless rate lowest among OECD countries

South Korea's jobless rate was the lowest among the world's major economies in November last year, according to an international report on Sunday. According to the report by the Organization for Economic Cooperation and Development (OECD), South Korea's seasonally-adjusted unemployment rate stood at 3.1 percent in November, the lowest among the 34 member countries surveyed by the Paris-based organization. South Korea's November jobless rate compared with an average unemployment rate of 5.1 percent among OECD countries. Spain posted the highest jobless rate of 22.9 percent in November, followed by Ireland with 14.6 percent, Slovakia with 13.5 percent and Portugal with 13.2 percent. The average jobless rate of the European Union (EU)'s 27 member countries stood at 9.8 percent, while the corresponding figure for the 17 European countries that use the euro as currency was 10.3 percent. Overall, the number of jobless people in OECD countries reached 44.6 million in November, down 1.8 million from a year earlier.

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Campaign to Cure One Million Children and Elderly People expands into Africa, Asia

S.Korean city gas provider further increases stake in China Gas

ABU DHABI: The UAE's Campaign to Cure One Million Children and Elderly People started expansion into Asia and Africa in coordination with the ministries of health in targeted countries, according to Dr. Adel Al Shameri, CEO of Emirates Global Humanitarian Mobile Hospital (Elaj) '&' the Zayed Giving Initiative. The number of mobile hospitals run and funded by the UAE went up to four with a capacity of 250 beds, according to the operation plan for 2012 which will be approved in the coming weeks, Shameri said. The expansion plan which is part of the UAE's humanitarian effort worldwide is collaborated by the Red Crescent Authority (RCA), the Women General Union, the Zayed Bin Sultan Al Nahyan Charitable and Humanitarian Foundation, the Khalifa bin Zayed Charity Foundation, the Ministry of Health and the UAE Armed Forces, he noted. So far, beneficiaries of the Campaign included more than 900000 children in Pakistan, Eritrea, Morocco, Indonesia, Somalia, Kenya, Egypt, Bosnia and Lebanon in addition to 2210 patients who underwent open heart surgeries by the Campaign's international medical team, Al-Shameri stated.

South Korea's leading city gas provider SK E&S Co. has further increased its stake in China Gas Holdings Ltd. as part of ongoing efforts to expand its presence in China's city gas sector, Yonhap News reported on Sunday quoting a source as having said. The company's stake in the Chinese natural gas service operator has risen to 9.61 percent from 7.8 percent, said the source familiar with the shares that are listed on the Hong Kong Stock Exchange. SK E&S announced earlier this month it would eventually increase its original 5.9 percent-stake in China Gas Holdings by purchasing additional an 5 percent for 120 billion won (US$103 million). If SK E&S continues to purchase as planned, SK Group's total holdings will rise to around 15 percent, solidifying its position as the single largest shareholder of the Chinese energy company. Its affiliate SK Gas is known to also hold 4.49 percent. SK Group, the third-largest conglomerate in South Korea, now holds 14.1 percent in the Chinese firm through its two units.

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Eximbank to fund US$12 mln for Korean firm

S. Korea international flight passengers top 19.9 mil in H1

The state-run Export-Import Bank of Korea (Eximbank) said Tuesday it will lend US$12 million to South Korea's leading polysilicon manufacturer, OCI Co., to help finance the firm's solar power project in the United States. The loan will fund the first stage of the three-phase project in New Jersey, worth a total of $45 million, the lender said in a statement. The policy lender said it has not yet decided whether to extend loans for the following two stages. OCI Solar Power LLC, a U.S.-based subsidiary of OCI, launched the 9-megawatt solar power project in October last year, and aims to complete it by August of next year. Eximbank said loans extended for such green-energy businesses are forecast to reach a total of 3.8 trillion won (US$3.3 billion) as of December, adding it will raise that amount to 5 trillion won in 2012.

The number of international flight passengers to and from South Korea reached 19.95 million in the first six months of the year, up 4.2 percent from 19.15 million in the same period last year, the Ministry of Land, Transportation and Maritime Affairs said on Tuesday,. Passengers to and from Southeast Asian countries jumped 17.7 percent from a year earlier to over 6.5 million with travelers going to and from China also surging 5.5 percent to over 4.5 million. Passengers to and from Japan, however, dropped 12.7 percent on-year apparently due to effects of the March 11 earthquake and tsunami that crippled a Japanese nuclear power plant. The crisis at the plant lead to a radiation scare in Japan as well as South Korea.

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"Its more fun in the Philippines"- Spread the word, says DOT

"It's more fun in the Philippines." That's the new slogan that will brand the new Philippine tourism campaign to be rolled out in international markets starting April this year. Tourism Secretary Ramon Jimenez Jr., in an exclusive briefing for InterAksyon.com prior to today's public launch of the campaign, said the slogan created by advertising firm BBDO Guerrero | Proximity Philippines, answers the fundamental question, "Why the Philippines?" "What differentiates the Philippines from every [other place] in the world, as we said from the start, is the Filipino. [It's] his special gift for transforming what is already a beautiful place into an unforgettable special place," Jimenez said. "You take two identical islands, put Filipinos in one, it’s going to be more fun there." Also launched on Friday was a new logo, which is a "banig weave that forms the map of the Philippines. It's very colorful, very graphic, sa biglang tingin [at first glance], it's a pixelized version of the map. It has that very modern feel also," Jimenez said. President Benigno S. Aquino III, he noted, also gave his inputs on the colors. The Philippines hopes to attract 12 million visitors by 2016, when Aquino steps down from office. The new brand campaign was presented to the President some three weeks ago with a number of his Cabinet members in attendance. Asked about the President's reaction, Jimenez said: "He was very relieved. He was worried that it was going to be a more exotic kind of controversial [slogan]." The President had previously approved the controversial "Pilipinas Kay Ganda" (How Beautiful, the Philippines) slogan launched by the DOT in November 2010, which was later scrapped due to massive public outcry.

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News Bulletin