Watch your wallet

Oh, those islands.

Seoul Slams Tokyo Over Dokdo: "Seoul expressed strong regret Monday over Tokyo's alleged plan to describe Korea's easternmost islets of Dokdo as part of its territory.

The government called it a move to pour cold water on efforts to mend strained ties with Japan.

Minister of Foreign Affairs and Trade Yu Myung-hwan called in Japanese Ambassador to Seoul Toshinori Shigeie to deliver a message of protest over a news report that Japan's Education Ministry plans to refer to the islets as ``Japanese territory'' in its revised curriculum handbook for teachers and textbook publishers.

The report came three months after Japan's Foreign Ministry posted a document on its official Web site, laying claim to the islets.

Shigeie's summons followed an urgent instruction by President Lee Myung-bak earlier in the day to confirm the authenticity of the report by Japan's Yomiuri Shimbun and to ``ask Japan to rectify'' the action if it turned out to be true, ministry spokesman Moon Tae-young said.
The Japanese envoy said Tokyo has not made an official decision on the plan and he will report Seoul's position to his government, said Moon.

Japan's Chief Cabinet Secretary Nobutaka Machimura maintained a contradictory stance.

He told reporters in Japan that Japan's stance remains unchanged, saying the islets, known as Takeshima in Japanese, belong to Japan.

Machimura added, however, his government did not want to have a row with South Korea over the issue.

``We have no intention of significantly politicizing the Takeshima issue,'' he was quoted by AFP as saying. ``The leaders (of Japan and South Korea) have agreed to improve relations while working on issues in a forward-looking manner.''

The school curriculum is revised about every 10 years and the latest revision will be completed by July for use from 2012, according to the Yomiuri report.

Minister Yu reiterated Seoul would not accept any ``unfair attempt'' by Tokyo to infringe on Korea's ownership of Dokdo.

``It's obvious that the Dokdo islets are our territory from standpoints of history and international laws,'' Yu said. ``We will sternly deal with any attempt to undermine our territorial sovereignty over Dokdo.''

He said Japan's renewed campaign to lay claim to the Korean islets ``runs counter'' to bilateral efforts in recent months to develop the relationship between the two nations into a ``future-oriented'' one.

Since taking office in February, President Lee has exerted efforts to build better relations with Japan with a pragmatic approach. He said he would not urge Japan to apologize for past atrocities to help prevent the two nation's relationship from being caught up in historical disputes.

Lee met with Japanese Prime Minister Yasuo Fukuda in Seoul and Tokyo in February and April, as part of efforts to revive ``shuttle diplomacy.''

Located roughly halfway between South Korea and Japan in the East Sea, the rocky islets have been at the center of a decade-old dispute between the two neighbors with both sides claiming them to be their own.

The area surrounding the islets is believed to be rich in fishing and possible undersea resources.

The islets were annexed by Japan along with the Korean Peninsula in 1910, but Tokyo claims its territorial rights to the islets were declared five years before the start of Japanese colonial rule (1910-45)."

This is sure to rattle some cages if Korean politicians choose to pursue it. Though they might be too busy making contracts on each other.