NO PAIN, NO GAIN: Despite a ministry estimate of 100,000 job losses over 10 years, the government thinks FTAs are essential for improving Seoul's competitiveness
Free trade agreements (FTA) with the US, Japan, China and Southeast Asia would put more than 100,000 South Koreans out of work over the next 10 years, a government estimate has said.

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South Korea's top economic official yesterday announced plans to change financial rules to encourage more local companies and funds to invest abroad.

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Unique perfumes offering a scent of exclusivity are now within the reach of many pockets thanks to a new generation of young master "noses" trying to buck a trend towards bland mass production.

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The terrorist bombings in Bangkok that rang in the New Year dealt a fresh blow to investor confidence in the Thai economy, already shaken by a year of political turmoil and inept efforts to control the value of the baht, analysts said.

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GOOD START: Buoyed by firm US consumer spending,the region's markets, with the exception of Manila, closed higher, led by export heavyweights such as Samsung
Asian stocks rose the most in almost two weeks, led by exporters Samsung Electronics Co and Hon Hai Precision Industry Co (鴻海 精密) after Wal-Mart Stores Inc reported higher sales and US consumers spent more online.

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■ Labor
Foxconn workers form union
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