Kyodo economic news summary
TOKYO, Jun 03, 2003 (Kyodo via COMTEX) --
- S. Korea-Japan FTA talks may not start this year: Yoon
SEOUL - South Korean Foreign Affairs and Trade Minister Yoon Young Kwan said Tuesday it may be difficult for his government and Japan's to begin talks within the year on signing a free trade agreement (FTA).
"We need to undergo the process of gathering public opinion to build consensus and holding talks among industries. And I believe we have not yet reached the stage," Yoon said in an interview with Kyodo News.
- METI to start esthetic-services certification system in 2006
TOKYO - The Ministry of Economy, Trade and Industry (METI) plans to launch a certification system for the esthetic services industry in 2006 in a bid to ensure quality of services and prevent consumer-related trouble, ministry officials said Tuesday.
A METI panel studying the matter has compiled a report calling for the establishment of an independent organization as early as next April which will officially certify each beauty treatment clinic providing esthetic services, the officials said.
- Intel to invest $100 mil. in DRAM maker Elpida
TOKYO - U.S. chip maker Intel Corp. has agreed to invest $100 million (12 billion yen) in Elpida Memory Inc., the sole Japanese producer of dynamic random access memory (DRAM) chips, in return for non-voting stock, the two companies said Tuesday.
Elpida, owned equally by Hitachi Ltd. and NEC Corp., plans to use the proceeds from the investment and other intended financing to significantly boost production at its DRAM wafer fabrication plant in Hiroshima Prefecture, they said.
- Panel wants less restrictions on sales of ex-U.S. sites
TOKYO - An advisory panel to the finance minister approved in principle Tuesday a plan to ease restrictions on the sales of former U.S. armed forces sites in Japan that have been returned to the country, panel members said.
The plan, aimed at promoting the sales of such land from the central government to local governments, was outlined in a draft report approved by a subcommittee of the Ministry of Finance Fiscal System Council on the same day.
- Volkswagen to release convertible model of New Beetle
NAGOYA - Volkswagen Group Japan K.K. will release the New Beetle Cabriolet, the convertible version of the New Beetle passenger car, for 3.33 million yen on June 14, company officials said Tuesday.
Sales are targeted at 1,000 units for the current business year.
- Subscribers to KDDI's 3G mobile phone service top 8 mil.
TOKYO - The number of subscribers to the "au" third-generation (3G) mobile phone service offered by KDDI Corp. and Okinawa Cellular Telephone Co., a KDDI ally, has topped 8 million, the companies said Tuesday.
The 3G service, called "CDMA2000 1x," allows high-speed data transmissions.
- EU farm subsidy reform may help to move WTO farm talks
KHON KAEN, Thailand - Director General of the World Trade Organization (WTO) Supachai Panitchpakdi suggested Tuesday that reform of the European Union (EU) Common Agriculture Policy, expected to be later this month, could help move forward WTO negotiations on farm trade liberalization.
Supachai in northeastern Thailand to discuss trade with ministers from the Asia-Pacific Economic Cooperation (APEC) forum.
2003 Kyodo News (c) Established 1945
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