Headlines, December 5, 2019

Thursday, December 5, 2019

Round-up of important news from major Korean dailies and from international media today

The Korea Post (http://www.koreapost.com/)

Bilateral ties of cooperation, friendship witness significant progress over past decade

The National Day of the United Arab Emirates (UAE) was celebrated in the grandest scale in Seoul on Dec. 2, 2019 at Hotel Shilla, among the few largest in Korea for this year. An estimated total of over one thousand distinguished guests attended the function, including Korean government leaders, ambassadors of many countries accredited to Korea and leading figures from all walks of life in the Korean and international communities.

Moon to meet China's top diplomat at Cheong Wa Dae

South Korean President Moon Jae-in plans to meet with China's State Councilor Wang Yi on Thursday afternoon for discussions on such pending issues as ways to improve Seoul-Beijing ties and resume talks on North Korea's nuclear program. Wang, who doubles as foreign minister, on Wednesday began his first visit to South Korea in over four years, with relations between the neighboring countries strained over the deployment of the advanced U.S. missile defense system, THAAD, in South Korea.

SK Innovation, Glencore sign 6-year cobalt supply deal

SK Innovation Co., a major electric vehicle (EV) battery maker in South Korea, said Wednesday it has signed a six-year deal with Swiss-based Glencore PLC to secure supplies of cobalt, a key material used in EV batteries. Under the agreement, SK Innovation will receive a total of 30,000 tons of cobalt, which is enough to make batteries for 3 million EVs, from Swiss-based Glencore between 2020 and 2025.

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KBS (http://world.kbs.co.kr/english/news/)

US JCS official unaware of discussion of troop drawdown in S. Korea

A US Joint Chiefs of Staff official said Wednesday that he is not aware of any discussion inside the Pentagon of a possible drawdown of American troops in South Korea. Speculation of a possible reduction of the 28,500-strong US Forces Korea has grown in recent weeks amid tough negotiations on how the allies will share the costs for the troops' upkeep.

Britain, France, Germany Condemn N. Korean Missile Tests

The United Nations Security Council held a closed-door meeting on Wednesday to discuss North Korea's recent projectile launches. The issue was reportedly addressed when the Security Council discussed the situation in Somalia and Syria. Right after the meeting, UN ambassadors from six European countries, including Britain, France and Germany, issued a joint statement expressing deep concern about North Korea's continued ballistic missile launches.

S. Korea, China Agree on Need to Normalize Relations after THAAD Dispute

The top diplomats of South Korea and China have agreed on the need to "fully normalize" bilateral relations following a diplomatic row over the installation of the U.S. THAAD anti-missile system. According to Seoul's Foreign Ministry, Foreign Minister Kang Kyung-wha and her Chinese counterpart Wang Yi reached the agreement during talks in Seoul on Wednesday.

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Yonhap (http://english.yonhapnews.co.kr)

S. Korea's current account surplus reaches 12-month high in Oct.

South Korea's current account surplus grew slightly from a month earlier to reach a 12-month high in October as its service account deficit narrowed while its primary income account surplus expanded, central bank data showed Thursday. The country's current account surplus came to US$7.83 billion, up from a revised surplus of $7.76 billion the previous month, according to preliminary data from the Bank of Korea (BOK).

Moon to meet China's top diplomat at Cheong Wa Dae

South Korean President Moon Jae-in plans to meet with China's State Councilor Wang Yi on Thursday afternoon for discussions on such pending issues as ways to improve Seoul-Beijing ties and resume talks on North Korea's nuclear program. Wang, who doubles as foreign minister, on Wednesday began his first visit to South Korea in over four years, with relations between the neighboring countries strained over the deployment of the advanced U.S. missile defense system, THAAD, in South Korea.

N. Korea says it too will use force against U.S. if necessary

North Korea on Wednesday lashed out at U.S. President Donald Trump for hinting at the use of force against the communist state, saying it too will take "prompt" measures if necessary. "One thing I would like to make clear is that the use of armed forces is not the privilege of the U.S. only," Pak Jong Chon, chief of the General Staff of the Korean People's Army, said in a statement carried by the North's Korean Central News Agency.

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The Korea Herald (http://www.koreaherald.com)

Moon to meet China's top diplomat at Cheong Wa Dae

South Korean President Moon Jae-in plans to meet with China's State Councilor Wang Yi on Thursday afternoon for discussions on such pending issues as ways to improve Seoul-Beijing ties and resume talks on North Korea's nuclear program. Wang, who doubles as foreign minister, on Wednesday began his first visit to South Korea in over four years, with relations between the neighboring countries strained over the deployment of the advanced US missile defense system, THAAD, in South Korea.

S. Korea's current account surplus reaches 12-month high in Oct.

South Korea's current account surplus grew slightly from a month earlier to reach a 12-month high in October as its service account deficit narrowed while its primary income account surplus expanded, central bank data showed Thursday. The country's current account surplus came to $7.83 billion, up from a revised surplus of $7.76 billion the previous month, according to preliminary data from the Bank of Korea.

US JCS official unaware of discussion of troop drawdown in S. Korea

A US Joint Chiefs of Staff official said Wednesday that he is not aware of any discussion inside the Pentagon of a possible drawdown of American troops in South Korea. Speculation of a possible reduction of the 28,500-strong US Forces Korea has grown in recent weeks amid tough negotiations on how the allies will share the costs for the troops' upkeep.

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The Korea Times (http://www.koreatimes.co.kr)

When justice systems fail to protect women

It is not easy for a sexual violence victim to decide to bring their case to the court and continue a legal battle. They have to be reminded of the horrible incident numerous times during hearings, face countersuits from the offenders and are often subjected to slutshaming in social circles.

BOK urged to reinvent itself in digital era

Central banks across the globe are facing grave challenges, with digitization bringing fundamental changes to the economy and business ecosystem. Traditional monetary policy medicine does not work well in containing inflation, stimulating growth or maintaining financial stability. Simply speaking, the effect of key rate policies has been weakening as technology penetration has gradually impaired monetary transmission channels.

Seoul, Chinese FMs agree to boost ties

The foreign ministers of South Korea and China discussed ways to improve bilateral ties Wednesday, with Seoul asking Beijing for support in breaking the impasse in the denuclearization dialogue between North Korea and the United States, and bringing lasting peace to the Korean Peninsula. Kang Kyung-wha held talks with Wang Yi at the foreign ministry's headquarters, in Seoul, from 4:00 p.m., but only a few specifics were made public.

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Chosun Ilbo (http://english.chosun.com)

Kim Jong-un Turns Sulking with S.Korea into Official Policy

North Korean leader Kim Jong-un has told officials that they should "expect nothing" from South Korea and ordered them not to "beg" the South, according to sources. Since the U.S.-North Korea summit in Hanoi collapsed in February, Kim has gone into an almighty sulk because he apparently blames South Korea for persuading him to get his hopes up that sanctions would be lifted in return for nothing or very little.

Trump Threatens N.Korea with Military Force

U.S. President Donald Trump on Tuesday warned North Korea against going too far after the North reminded him of a proposed year-end deadline to resume stalled talks and ease sanctions. "We have the most powerful military we have ever had and we are by far the most powerful country in the world, and hopefully we do not have to use it," Trump said in a meeting in London ahead a NATO summit. "If we have to, we will do it."

Korean Students Fall in Global Academic Ranking

Korean students fell in reading, math and science in the OECD's Programme for International Student Assessment (PISA) announced Tuesday. PISA is conducted every three years, and the latest involved 710,000 15-year-olds in 79 countries. Korea usually ranked top in reading and first to fourth in math until 2006. But since 2009 Korean students' skills have been declining, and they fell to fourth to ninth in reading and sixth to ninth in math in 2015.

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HanKyoReh Shinmun (http://english.hani.co.kr)

Trump says he stills trusts Kim Jong-un, despite N. Korea’s end-of-year deadlines

With North Korea issuing reminders about its end-of-the-year deadline, US President Donald Trump said on Dec. 3 that he still trusts North Korean leader Kim Jong-un and urged people to “see what happens.” While responding to a reporter’s question following a summit with the leaders of NATO member states, Trump said that he still has “confidence” in Kim but added that Kim “likes sending rockets up, doesn’t he?”

Kim Jong-un attends ribbon-cutting ceremony for 2nd-phase construction in Samjiyon County

North Korean leader Kim Jong-un attended a ribbon-cutting ceremony for the township of Samjiyon County (the second phase of construction) on Dec. 2, North Korea’s state-run newspaper the Rodong Sinmun reported on the first three pages of its Dec. 3 edition. This visit to Samjiyon County came a month and a half after a Rodong Sinmun article on Oct. 16 about Kim visiting Samjiyon County and Mt. Baektu, where he reportedly reviewed the year’s events and planned a “great operation.” The third phase of construction at Samjiyon County is supposed to be completed on Oct. 10, 2020, which will be the 75th anniversary of the establishment of the Workers’ Party of Korea (WPK).

Japan continues to omit Korean forced laborers from UNESCO report on Hashima Island

In the second progress report about follow-up measures for Meiji industrial revolution sites inscribed on UNESCO’s World Heritage List, the Japanese government once again failed to acknowledge Korean labor conscripts who worked at those sites or to outline measures to honor those who died during such labor, the Hankyoreh has discovered. The 23 coal mines and iron and steel works that Japan added to the UNESCO list in 2015 include Hashima Island, also called Battleship Island, in Nagasaki Prefecture, an infamous site where Koreans were mobilized for forced labor.

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The Dong-A Ilbo (http://english.donga.com/)

Tensions across Korean Peninsula increase as year-end reaches closer

As U.S. President Donald Trump and North Korean leader Kim Jong Un who used to show off their close relationship even after the breakdown of the Hanoi negotiation in February this year imply the possibility of using military force against each other, tensions across the Korean Peninsula are on the rise. Depending on the level of “major steps” to be taken by North Korea in the event that the resumed negotiations between the U.S. and North Korea come to a breakdown this year, it will be decided whether the negotiations between the two will continue or be terminated.

Samsung smartphones top domestic market with 71 percent in Q3

Samsung Electronics has obtained more than a 70% market share of the domestic smartphone market, by leading with its premium fifth-generation (5G) premium models,

According to market research company Counterpoint Research on Wednesday, Samsung Electronics achieved 71% of domestic smart phone sales in the third quarter of the year, which is 3 percentage points higher than the previous quarter and 4 percentage points higher than the same period last year. The success is attributable to the Galaxy Note 10 model, the premium line launched in August, as well as the growth of 5G product sales. In the third quarter of this year, seven out of 10 smart phones sold in Korea were manufactured by Samsung.

A Seoul court upholds FTC’s decision to impose fine on Qualcomm

A South Korean court upheld the country’s antitrust watchdog’s decision to fine Qualcomm a record-high fine of 1.03 trillion won. The Seoul High Court on Wednesday ruled in favor of the Fair Trade Commission (FTC) in a lawsuit filed by Qualcomm Inc., calling for the nullification of the agency’s decision and the suspension of the corrective orders. The court said in a ruling that the FTC’s decision was legitimate.

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The KyungHyang Shinmun (http://english.khan.co.kr/)

Problems of Sex Education for Children, “The Worst Is Telling Them ‘It’s Nothing Serious’ as in the Seongnam Case”

“In the case of sexual violence among children, it is true that compared with adults, children lack the ability to realize that they engaged in a ‘sexual activity.’ But this does not mean that they do not know what they did was ‘bad.’ We need to make them understand that what they did was an act of violence.”

Percentage of Poor Students Below Academic Standards Was Three Times Higher than That of Rich Students

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Maeil Business News Korea ( http://www.pulsenews.co.kr/)

Korean court sides with FTC over record fine against Qualcomm

A South Korean court has upheld a record 1.03 trillion won ($863.4 million) fine against U.S. chip giant Qualcomm Inc. for unfair business practices related to mobile chipset sales and patent licensing. Qualcomm immediately decided to appeal the ruling to the higher court.

Korean fintech name Viva Republica expects to generate profit from next year: CEO

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