China Stocks Near Bull Market Ahead of Lunar New Year Holidays

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S.Koreans describe fire breaking out in shanty town

STORY: The fire erupted at 6:27 a.m. (0927 GMT) in Guryong Village in southern Seoul, which is home to more than 660 households, and was extinguished about five hours later. Roughly 60 homes in the 2,700-square-meter (29,000-square-foot) area have been destroyed, fire officials said, with about 600 firefighters, police officers and troops as well as 10 helicopters dispatched to contain the blaze. One of the last remaining slums, the village is a symbol of inequality in Asia’s fourth-largest economy just next to the flashy, affluent district of Gangnam. The area has also been prone to fires, floods and other disasters, with many homes built using cardboard and wood, and residents exposed to safety and health issues.