S. Korea Bogged by Household Debt Crisis

S. Korea Bogged by Household Debt Crisis

Pyongyang, March 12 (KCNA) -- Household debt has now reached an all-time high of nearly one trillion U.S. dollars in south Korea.

The debt that had annually increased over 5 percent from 2000 now totals 929 billion U.S. dollars beyond the internationally set danger line.

Debt for each household amounts to more than 1.7 times its yearly average income, topping the world list.

40 percent of household debt was what the families loaned from the banks with their houses as collateral.

As the householders' income shrank and the house prices decreased more than 15 percent as against the past period under the influence of the economic downturn, the banks are now finding it unable to get back even the principal, to say nothing of interests.

This is an inevitable product of the unpopular economic policy of Lee Myung Bak who pushed the economy into bankruptcy and the people's lives into destitution. It is the unanimous public opinion that the upcoming parliamentary and presidential elections will serve as a harbinger heralding the puppet group's ruin. -0-

Rages at S. Korean Regime Run High among Workers of DPRK

Rages at S. Korean Regime Run High among Workers of DPRK

Pyongyang, March 4 (KCNA) -- Upon hearing the news of the hideous provocation committed again by south Korea's Lee Myung Bak regime against the dignity of the DPRK supreme leadership, all workers at the Chollima Steel Complex in the DPRK hardly repress their surging indignation.

Ju Kyong Chol, a workshop head, told KCNA:

"The Lee Myung Bak group of traitors made another hideous provocation at a time when the Korean Peninsula is under the touch-and-go situation due to the Key Resolve and Foal Eagle military exercises jointly kicked off by the south Korean military and the U.S. forces.

The group's arch crime, committed when the DPRK was seized with grief over the demise of leader Kim Jong Il, is still arousing anger from among the fellow countrymen.

We can no longer endure such provocations."

Ra U Gil, a member of the Worker-Peasant Red Guards, said:

"Now that our own-style sacred war was declared against the group of traitors, we will turn out in the war with a hammer in one hand and a rifle in the other to wipe out the enemy.

Those who hurt the dignity of the supreme leadershi

Repeal of Plan for Privatizing Railway Called for in S. Korea

Pyongyang, February 6 (KCNA) -- The railway trade union under the south Korean Confederation of Trade Unions held a meeting in Seoul on Saturday, demanding the authorities to give up their plan for privatizing the railway.

The speakers said that the privatization would grant privileges to the big businesses and reduce tens of thousands of railway workers to part-time workers, threatening their existence.

They urged the authorities to drop their plan for privatizing the railway. -0-

S. Korean Workers Declare General Strike

Pyongyang, February 3 (KCNA) -- The south Korean Confederation of Trade Unions held a meeting in Seoul on Jan. 31 at which it declared a general strike to oust the Lee Myung Bak group of traitors pursuing an unpopular rule.

The speakers said that this year is a landmark year for putting an end to the authorities' traitorous rule for the rich who account for just one percent of the population, calling for bringing down the fascist dictatorship through the workers' struggle.

They underscored the need to bring earlier a society where the basic right to labor and political freedom are guaranteed to the workers.

They declared they would get all the evil laws on labor of the authorities repealed through a dynamic struggle and foil their moves to stamp out the democratic trade unions, no matter what trial they may face. They called upon the workers across south Korea and progressive forces to unite and solidarize with one another to win the general election slated to take place in April. -0-

Lee Myung Bak Termed Chieftain of Massacre of Ryongsan Evacuees Three Yrs Ago

Pyongyang, January 22 (KCNA) -- The south Korean Preparatory Committee for Memorial Service for the Ryongsan Tragedy condemned the puppet group of traitors for the massacre of Ryongsan evacuees. The Committee consists of more than 100 civic and public organizations.

They held a rally in the plaza of the Seoul Station on Jan. 19.

The speakers said though three years have passed since the tragedy, probe into the killing has not been made and the evacuees who fought for their rights to existence are still kept behind bars.

The present "government" forcibly evacuated residents without any measure, pursuant to its reckless devolopment policy, speakers charged, deploring it will bring the second and third Ryongsan Tragedy.

They strongly demanded the immediate release of the unjustly detained evacuees and the enactment of the "law on banning forcible evacuation" to prevent the Ryongsan tragedy from repeating itself.

Paek Ki Wan, chief of the Institute for Unification Studies, made a memorial address.

It is Lee Myung Bak who masterminded the massacre of Ryongsan evacuees, Paek said.

He called on people from different social strata to turn the memorial movement into a campaign for putting Lee Myung Bak behind bars this year. -0

S. Korea′s Repression of Trade Unions Flayed

S. Korea′s Repression of Trade Unions Flayed

Pyongyang, January 22 (KCNA) -- Organizations of various social standings of south Korea denounced the puppet authorities for fanning up the atmosphere of repression.

They held a press conference in Seoul on Jan. 20.

They included the Teachers Trade Unions, the Solidarity for Progress, the Confederation of Trade Unions.

In a press release they condemned the corrupt and incompetent present regime for kicking up the racket of suppressing the Teachers Trade Unions in the run up to the parliamentary election.

The authorities have charged the legitimate activities of teachers for the peace and the country's reunification as violation of the "National Security Law" and searched the houses of members of the Teachers Trade Unions, they said.

Since taking office the present regime has kicked up suppressive campaign whenever elections were ahead.

The fascist suppression through political coloring offensive will never browbeat the people, they stressed.

They called for staging dynamic actions to foil the conservative ruling forces' moves to suppress the trade unions. -0-

S. Korean Trade Unionists Vow to Turn out to Judge Regime

Pyongyang, January 6 (KCNA) -- Members of the south Korean Confederation of Trade Unions (KCTU) held a rally in Moran Park in south Yangju City, Kyonggi Province on January 3, declaring the launch of actions for judging traitorous regime.

Attending it were members of the general affairs bureau and sub-trade unions and regional headquarters under KCTU.

People's livelihood deteriorated under the Lee Myung Bak regime, the speakers deplored.

People's anger at the present regime has grown for the past four years, they said, vowing to deal a blow at the regime through intensified actions.

KCTU will take the lead to win general strike this year and judge unpopular regime, they vowed.