News Tidbits – 11/16/2012

By , November 16, 2012 11:22 am

A few newsworthy items around Korea:

  • I don’t usually comment on Korean politics, but here’s something I’d vote for.  Presidential Ahn has promised to rid the nation of the dreaded “Internet Explorer Curse”. Ahn has been in the technology field with his experience in anti-virus software. But now he wants to tackle a problem that is the bain of  almost every expat’s existence here – other browsers simply do not work with internet banking, purchasing, etc, etc. One must use Internet Explorer and download additional unsafe plugins and applications to get most any commerce conducted in Korea. Despite Korea having one of the fastest Internets in the world, they’re hobbled by inferior  technology supplied my Microsoft and custom security application plugins.
  • Korea’s Fair Trade Commission is getting serious about cracking down on false advertising. A website selling low grade beef as premium and another selling books as bestsellers were fined this week.  Now if they could just do something about the ab reducing exercise machines that fill evening TV ad spaces.
  • In preparation for the presidential election (of course, it’s a serious concern they might attack) North Korea is building up their military forces on the west sea border. The Norks, however, do say that if the new president says nice things they might play nice.
  • And on the economics front, the rising Won makes it better to send money home as we already mentioned in this week’s financial news thread. However, an added benefit of an appreciated won is that import prices go down. Import prices have declined 3.3% last month due to the rising won.  But since the Korean government is mostly fed by taxes from the enormous, export driven Chaebol conglomerates, don’t get all giddy and expect this to last for very long.

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