The Korean daily media headlines and humor
Monday, April 18, 2016
Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:
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Only 12.4% support the former ruling Saenuri Party of President Park
Some 77% of young people vote for opposition candidates
Which political parties do the young voters support in Korea?
In the last general elections on April 18, nearly 77% of the voters in their 20s supported the opposition parties. Only 12.4% supported the ruling Saenuri Party of President Park Geun-hye.
Specifically, 28.5% of the young voters supported the Minju Party of new leader Kim Jong-in, 26.8% the People’s Party of Ahn Cheol-soo, 21.6% the progressive Justice Party of Sim Sang-jung and the meager balance (12.4%) to the ruling Saenuri Party of President Park. This was reported by a major Korean-language daily Joong-Ang Ilbo on April 18 based on a survey a total of 153 typical young voters in the 20s.
Asked how they thought President Park Geun-hye has been running the affairs of the state, 95.4% said that she was doing it the wrong way. Asked why they thought so, 47.1% said that she was dogmatic, 15.7% her economic policies failed and 9.8% she did not honor her public promises.
The young voter turnout this year was bigger than in many previous years. According to tallies by three major broadcasting stations, KBS, MBC and SBS, in their exit surveys, 49.4% of the eligible younger voters cast their ballots. This is 7.9% higher than 41.5% recorded in the general elections of 2012.
On the cause of the ‘Youth Revolt,’ Prof. Jang Deok-jin of Seoul National University said, “The two consecutive conservative governments in the past eight years have created an economic environment and a labor market that gave the young people in Korea dissatisfaction and frustration.”
According to Office of Statistics, the young jobless rate that was 8% in 1913, which rose to 9% in 2014 and then to 9.2% in 2015. This year the youth jobless rate has already reached 12.5% (as of February).
Replacing the ruling party with one with a very slight margin
People give the present government, political leadership a telling message
The 20th National Assembly elections on April 13, 2016 ended with the birth of a three-party political system in South Korea?changing the ruling party with a very slight margin. The new ruling party, Minjoo, has only one more winner than the former ruling party, Saenuri. Perhaps the bigger change is the fact that now Korea is in a three-party system with a powerful newcomer, the People’s Party led by Rep. Ahn Cheol-soo).
The Korean people have given the political arena a telling message, “We are fed up with you two guys endlessly fighting with each other and producing nothing!”
So the people gave birth to a powerful third party to control the ‘two big guys’ so that they would not fight with each other endlessly paying little attention to the all-important affairs of the state and issues that demand an immediate attention.
Now neither the former ruling party nor the new majority party can belittle the enormous power of the people (voters).
As soon as Minjoo won the elections over the Saenuri Party with the extremely slight margin, Chairman Kim Jong-in of Minjoo Party said, “The people power held the ruling party wholly responsible for the economic failures.”
However, the stronger reason seems to be that the people saw the ruling party as being overly arrogant, self-righteous and incompetent.
Korea is having a critical time economically. The International Monetary Fund brought the economic growth forecast of Korea to 2.7% from the 3.2% of last October. The new National Assembly where now the opposition parties are stronger than the ruling camp should try to make an all-out effort to save the sagging Korean economy aloof?and there is no time for any partisan strife.
There were so many surprises during the last parliamentary elections. The ‘political monopoly’ that the Saenuri Party had enjoyed for the past 26 years in Busan and Gyeongsangnam-do region disappeared in the recent elections. Saenuri suffered a telling defeat where it lost five seats to the Minju in Busan and three in Gyeongsangnam-do. The reason seems to be the voters’ disagreement with Saenuri’s decision of indiscriminate 100% re-nomination of the incumbent local lawmakers.
Some political observers term the results of the National Assembly elections an ‘impeachment against the incumbent President and the ruling party.’
It appears that this is the first time in the Constitutional history of Korea where the ruling party lost as many as 30 seats and the parliamentary leadership. This is all the more so because the election conditions this year were the best ever for the ruling party whereas the opposition camp was split between Minjoo and the People’s Party and furthermore there was a marked growth in the number of senior voters who are normally on the side of the party in power.
Chairman Kim Moo-sung and other leading members of Saenuri have expressed their desire to leave the leadership positions in assumption of this situation. However, there is no appropriate political leaders fit to replace the present leadership of the party.
On this situation, Saenuri Chairman Kim Moo-sung said: “This happened because we had forgotten to fear the people (voters) and we have only ourselves to blame.” It appears that Kim has correctly seen the situation. It appears that the voters have given their verdict seeing the arrogance in the ruling party and the President.
Many people say that President Park has repeatedly made mistakes in her personnel selection and management known as “Decisions made according to the President’s notebook” under which most of the important government and party posts are occupied by the people from Taegu and Gyeongsangbuk-do Province, the favorite region of the President, and most of the important decisions are made by them.
Humor from a former Central Asian ambassador:
Why Condoms come in packs of 3s, 6s and 12s?
A man walked into a drug store with his 8-year-old-son.
They happened to walk by the condom display, and the boy asked: What are these, Dad?
To which, the man matter-of-factly replied: Those are called condoms, son. Men use them to have safe sex.
Oh, I see, replied the boy pensively. I’ve heard of that in health class at school.
He looked over the display and picked up a package of 3 and asks: Why are there 3 in this package?
The dad replied: Those are for high school boys. ONE for Friday, ONE for Saturday and ONE for Sunday.
Cool, said the boy.
He noticed a pack of 6s and asked: Then, who are these for?
Those are for college boys, the dad answered. TWO for Friday, TWO for Saturday and TWO for Sunday.
Wow! exclaimed the boy.
Then, who uses THESE?: he asked, picking up a pack of 12s.
With a sigh and a tear in his eye, the dad replied: Those are for married men. ONE for January, ONE for February, ONE for March.
(Editor’s note: Contribute the humor of your own country or region and help your incumbent and former colleagues chuckle and remember you. Send the tradition and/or current humor of you country or region to firstname.lastname@example.org or email@example.com to be shared with your colleagues and Korean friends.)
Whom did the overseas Koreans support in the last NA elections?
Which party does the Korean residents overseas favor most?
The overseas Koreans chose Minju Party most (59%) followed by Saenuri (24%), Ahn Cheol-soo's People's Party (9.1%) and Democratic Justice Party (2.4%). Centrist Ahn's Party had been only two months old when it joined the elections and it is expected that the new party will gain much more with the passage of time.
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A quick roundup of major news stories from Korean media:
Death Toll from Ecuador Earthquake Rises to 246
Ecuadorean authorities say the death toll from the seven-point magnitude earthquake that struck off Ecuador's west coast on Saturday rose to 246 as of Sunday, with at least two-thousand-527 others injured.
Floor Leaders of Three Parties to Meet Monday
Floor leaders of three rival parties on Monday will meet to discuss whether to hold the last extraordinary session of the current National Assembly, which is set to end on May 30.
Ahn of People's Party Vows Regime Change in 2017 Presidential Election
Floor Leaders of Three Parties to Meet Monday
Executives of Samsung Electronics Paid 66 Times What Employees Earn
Weak Exports Decrease Nation’s Dependence on Trade
Accumulated Sales of Hyundai, Kia Top 100 Million
KOSPI Heads South; KOSDAQ Rises
Lost Galaxy S5 survives 7 months outdoors
A Samsung Electronics Galaxy S5 device remained intact after being left outdoors for nearly seven months, the South Korean tech giant said Monday, proving the smartphone's water and dust resistance.
S. Korean shares open lower following quakes in Japan
South Korean shares opened lower Monday, trimming recent gains, as investors weighed the impact of earthquakes that hit Japan last week.
Final dividend payouts by listed firms soar in past 3 years
South Korean companies listed on the country's main stock market have sharply increased final dividend payments in the past three years in a move to enhance shareholder value, the Korea Exchange (KRX) said Monday.
'Descendant of the Sun' actor Song Joong-ki draws 4,000 in fan meeting
Actor Song Joong-ki, who became a household name through his recently-finished drama series 'The Descendants of the Sun,' drew some 4,000 fans in his first fan meeting held in about three years on Sunday.
The Korea Herald (http://www.koreaherald.com)
180,000 people seeking shelter after Japan quakes
Eleven people remained missing Sunday in southern Japan from two powerful earthquakes that killed 41 people, as the U.S ...
N.K. nuke test concerns grow as work continues
Work appears to be continuing at North Korea’s nuclear site, Seoul’s military officials said ...
Murky future for Sewol committee as deadline looms
Two years have passed since the sinking of the Sewol ferry left 304 dead or missing, but the sp...
Korea to push for longer forex trading hours
Korea plans to extend its foreign exchange trading session by 30 minutes in line with its push ...
The Korea Times (http://www.koreatimes.co.kr)
Credibility of TOEIC scores doubted The Ministry of Personnel Management may exclude the requirement to submit scores from the Test of English for International Communication (TOEIC) from applications for public servant posts, officials of the ministry said Sunday...
Song Joong-ki interview: 'I will try to stay true to myself'
The megahit drama “Descendants of the Sun” that has swept Asia, creating a new fandom for the past...
'NK readying for nuclear test'
Activity at North Korea’s main nuclear test site in Punggye-ri appears to be increasing, adding to speculation that Pyongyang may conduct its fifth nuclear te...
Korea advised to reform financial regulations
SINGAPORE - Korea needs to improve its regulatory and tax system to become a leading financial cen...
Tension grows at Noryangjin fish market over new building
Seoul’s Noryangjin Fisheries Wholesale Market is on the verge of losing its charm and reputation a...
Dong AIlbo (http://english.donga.com)
Video clip showing man being burned to death sparks outrage in China
People across Chinese are being outraged by an online video clip showing for 42-second footage of a person eventually being burne…
Korea offers meager tax benefit to families with children
It has turned out that the tax burden difference between Korean households with kids and single households is the fifth lowest am…
Ryu Hyun-jin suffers injury in groin, further delays return
Los Angeles Dodgers pitcher Ryu Hyun-jin (29), who is taking rehabilitation training after surgery, might have a setback in his s…
Chosun Ilbo (http://english.chosun.com)
Irregular Hours, White Light Damage Sleep
The number of people suffering from sleep disorders is climbing steeply, from 110,000 in 2005 to 410,000 in 2014. People in their 50s are especially prone, according to the Health Insurance Review and Assessment Service.
Businesses Thrive Creating Social Media Buzz
A growing number of businesses thrive by selling their clients the need for a bigger social media "presence." More followers on Facebook or Instagram, the theory goes, mean more buzz, and that translates into more customers for goods and services.
Koreans Work 12 Years in 1 Job
Workers in major companies in Korea stay there for an average of 12 years, according to a survey, suggesting that the days of a job for life are well and truly over. SK Energy boasted the longest average employment period of 21 years, followed by petrochemicals firm Yeochun NCC with 19.8 years and Kia with 19.6 years.
Spring, full of film festivals
Fresh, lively films that are just like spring sprouts are welcoming the new season. Those fests include Seoul Independent DOcumentary Film & Video Festival, Busan International Short Film Festival, Gr..
Darcy Paquet on the challenges and potential of the Wildflower Awards
Wildflowers Film Awards Korea organizer and local film critic Darcy Paquet sat down with KoBiz on the eve of the 3rd edition of the event to discuss the current state of the Korean independent film sc..
Foreign professor speaks of Korea with both love and criticism
Robert Fouser left South Korea in 2014 after six years as a professor of Korean language pedagogy in the Korean language education department of Seoul National University (SNU), and he returned with t..
In Cheongju, an old cigarette factory becomes a local art hub
A huge thermoelectric power plant used to stand in the factory area on the south bank of England’s Thames River. Its 99-meter-tall chimney belched a constant stream of black smoke, a seemingly eternal..
The lawmaker who planted the opposition’s flag in a conservative stronghold
Kim Boo-gyeom scored a major achievement in this week’s general election when he won the Suseong-A seat in Daegu, planting the opposition Minjoo Party of Korea (TMPK) flag in what for 30 years had bee..
Two days after election rout, Blue House remaining silent
The Blue House remained quiet for a second straight day on Apr. 15 over the general election defeat of the ruling Saenuri Party (NFP) this week. Apart from a brief, two-line statement issued on Apr. ..
The Blue House’s contradictory position on North Korean group defection
On Friday, Apr. 8, five days before the Apr. 13 general elections. I was hurrying a little more than usual to wrap up the day's work. At 4:24 pm, I got a text message from the Unification Ministry a..
Beijing doubles down on Korean soft power
Foreign investors may be pulling out of Korean markets, but Chinese money is filling the gap fast. Take, for example, the hit Korean TV drama “Descendents of the Sun,” which first aired in late February and came to an end last week with a Nielson Korea rating of 38.8 percent…
Young angry voters are making a difference
Young and angry voters in their 20s are seen to have played an important role in the unexpected outcome…
Chinese companies aggressively invest in Korea
China has been making headlines lately, particularly since the second half of last year, as it has been aggressively…
China’s white knights of business too often turn out to be vampires
Shares in Jeju Semiconductor & Creative Power Plant rose to the maximum daily limit last June when the company…
Renault Samsung unveils its latest QM3
Renault Samsung Motors (RSM), which is facing a tough challenge in the compact SUV market…
Lee suggests interest rate will stayBank of Korea Governor Lee Ju-yeol has hinted at another interest rate freeze, saying that Korea needs to be careful…
The Government's Crisis Alert “Customized” for Elections Meets with Public Criticism
The Saenuri Party was defeated in the 20th parliamentary elections. It wasn't just an ordinary defeat; it was a defeat more devastating than when they faced cr···
Saenuri Party Falls Behind the Minjoo Party: Do They Now Know to Fear the Public?
The Saenuri Party won the second most number of seats in the 20th parliamentary elections. This is the first time since the second parliamentary elections in 19···
[Editorial] [April 13, 2016 Parliamentary Elections] The Citizens' Judgment on the Park Geun-hye Government
The 20th parliamentary elections have ended. The Saenuri Party failed to secure the majority of the seats, whereas the Minjoo Party of Korea turned out victorio···
The Korea Economic Daily (http://english.hankyung.com/)
The U.S. Clashes with Japan over "Weak Yen Policy"
The United States and Japan, the world's largest and third-largest economies, are clashing over the Japanese government's devaluation policy. Even though the U.S. government had for years tolerated the weak yen vis-a-vis the American dollar, it is now responding in harsh terms against the Japanese g...
Gov't Plans to Extend Forex Trading Hours by up to 30 Minutes
The Korean government plans to extend the trading hours of the foreign exchange market by up to 30 minutes, in a move to respond to the 30-minute extension of the domestic stock trading hours. Yoo Il-ho, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, who is now in W...
Korean Economy's Trade Dependency Hits Bottom in 8 Years
The Korean economy's reliance on trade declined sharply last year due to a decline in exports. According to the Bank of Korea on April 17, the share of exports and imports in Korea's gross national income stood at 88.1 percent last year, down 10.5 percentage points from 98.6 percent in 2014. This st...
Chinese P2P Lending Market Marred by Unscrupulous Operators
Even though Chinese individual investors are flocking to the peer-to-peer (P2P) lending market, an increasing number of investors ended up losing money due to lack of proper regulation and supervision by the financial authorities, reported the Wall Street Journal on April 16. In China, a gray market...
AJU Business Daily(http://eng.ajunews.com/korea)
President Park's job approval rating falls to record low
President Park Geun-hye's job approval rating has tumbled to the lowest level since she took office in early 2013 as South Korea's first female president, a su…
Park vows to reform South Korea's labor market
Undeterred by a crushing election defeat, South Korean President Park Geun-hye vowed Friday to push ahead with her economic reform package focusing on the introduction …
South Korea detects North Korea's failed missile launch
North Korea apparently test-fired a suspected medium-range ballistic missile on Friday, marking the birthday of its founder and grandfather of leader Kim Jong-un, b…
Young people's unemployment rate at South Korea's worst
Students of Konkuk University are looking for job openings listed on the school's bulletin boards [Photo by Namkung Jin-woong=timeid@] Despite the increase in South Korea's total numb…
Novaled Receives More Attention from Industries Due to Its Increased...
Novaled, which is a provider of OLED material that was bought by Samsung, is continuing its trend of earning surprise. After making surplus in its first year since i...
Coupang Makes $475 Million in Loss from Last Year Apr 15, 2016 Share
Coupang Makes $475 Million in Loss from Last Year Coupang (CEO Kim Bum-seok) made an announcement through its audit report that it made $985 million (1.1338 trillion KRW) ...
KEPCO E&C Joins Smart Nuclear Facility Project Apr 14, 2016 Share
Alliance between South Korea and Saudi Arabia regarding South Korean small and medium-sized Smart Nuclear Facility is getting more intimate. Followed by material research...
MaeilBusinessNewsKorea (http://www.pulsenews.co.kr/ )
S. Korea seeks to add 30 minutes to FX trading hours
South Korea’s government decided to extend foreign exchange (FX) trading by 30 minutes, to match up with the planned elongation of the nation’s stock trading hours from 9 a.m. to 3:30 p.m.
Samsung Galaxy proves its waterproof capabilities
Bae Gyu-ryong, the president of Chungju Medical Center (CJMC) in North Chungcheong Province, was picking a persimmon off a tree ...
Collaboration between N. Korea and West proves giant magma beneath Mt. Paektu
In one of the first scientific collaborations between North Korea and the West, scientists have demonstrated the presence of a ...
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