June16, 2016

The Korean daily media headlines and humor

Thursday, June16, 2016

Your Excellency:

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:

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

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The Korea Post currently has two very important tours for the ambassadors and spouses

1. A one-night-two-day tour of Boryeong Mud Festival

Mayor Kim Dong-ill of the Boryeong City cordially invites the Excellencies and Madams to a two-day tour of the 19th Boryeong Mud Festival at the picturesque Daecheon Beach on Saturday-Sunday, 16-17 July 2016. Please scroll down to the end of this Headlines for further details.

2. A single day tour of the 2016 Yechon World Insect Expo

Mayor Lee Hyun-joon of the Yecheon County of Gyeongsangbuk-do Province cordially invites Your Excellency and Madam to attend the Opening Ceremony of the 2016 Yecheon World Insect Expo on Saturday July 30, 2016, which is attended by Prime Minister Hwang Kyo-ahn on behalf of President Park Geun-hye. Please check the full details of the Inviation at the bottom of this Headlines.

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Russia marks the Day of Russia at a reception

Ambassador Aleksandr A. Timonin of the Russian Federation in Seoul said that the Republic of Korea is one of the most important partners of Russia in the Asia-Pacific region and that I would like to point out that, despite complicated political and economic situation in the world, last year was fruitful for the two countries’ relations.

Speaking at a reception he hosted at the Millennium Seoul Hilton in Seoul on June 8, 2016, Ambassador Timonin said, “We successfully marked the 25th anniversary of diplomatic relations and held a complex of important joint events thus verifying the high level of our cooperation in various areas.”

Ambassador Timonin specifically pointed out, “The meeting of President of the Russian Federation Vladmir Putin and President of the Republic of Korea Park Geun-hye in 2015 in Paris, contacts of the heads of Foreign Ministries and Chairmen of Parliaments gave further boost to our partnership and defined guidelines for interaction in the forthcoming years.” (See excerpts from his speech at the end of this report.)

The reception was attended by many important guests from the Korean government and society as well as from the Seoul Diplomatic Corps. They included First Vice-Minister of Foreign Affairs Lim Sung Nam, Deputy Minister of Public Safety and Security Kim Gyungsoo and Deputy Minister of Culture, Sports and Tourism Park Younggoog.

For further details and photos in English please visit: www.koreapost.com

For the Korean-language version, please visit: http://www.koreapost.co.kr/news/articleView.html?idxno=12419

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A quick roundup of major news stories from the Korean media today:

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

S. Korea, France to Consider Additional N. Korea Sanctions

The defense chiefs of South Korea and France have agreed to jointly consider additional sanctions on North Korea.

South Korean Defense Minister Han Min-koo and his French counterpart Jean-Yives Le Drian reached the agreement at a meeting in Paris on Wednesday

Park Meets New USFK Commander Vincent Brooks

President Park Geun-hye met with United States Forces Korea Commander Gen. Vincent Brooks at her office in Seoul on Wednesday.

During the meeting, Park said North Korea's evolving nuclear and missile threats poses a security challenge not only to North East Asia, but also to the rest of the world.

S. Korea-Colombia FTA to Take Effect on July 15

The South Korea-Colombia Free Trade Agreement will take effect next month, three years and five months after the two countries signed the pact.

The Ministry of Trade, Industry and Energy said Wednesday that the Seoul-Bogota trade pact will be effectuated on July 15th

Park Meets New USFK Commander Vincent Brooks

S. Korea, France to Consider Additional N. Korea Sanctions

'Foreign Minister Yun Had Met Cuban Foreign Minister Before Recent Talks'

S. Korea-Colombia FTA to Take Effect on July 15

BAI Finds 1.5 Tln Won Accounting Fraud in Daewoo Shipbuilding

Deposited Amount in ISAs Surpasses 2 Tln Won

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

Cheong Wa Dae says it will respect result of feasibility study over new airport site

The presidential office Cheong Wa Dae said Thursday that it would "respect" the results of a feasibility study that a French firm has been conducting to select a site for a new airport in the country's southeastern region.

Seoul to introduce tighter FX liquidity guidelines in 2017

South Korea said Thursday that it will apply tighter liquidity regulations on foreign exchange reserves to its banking operations starting next year to strengthen the liquidity positions of local financial institutions. The Ministry of Strategy and Finance said that it will introduce the foreign exchange liquidity coverage ratio (LCR) to the South Korean banking industry from 2017, with other minor liquidity regulations abolished.

Trump says he would accept N. Korean leader to U.S. for negotiations

Republican presidential candidate Donald Trump said Wednesday he would "accept" North Korean leader Kim Jong-un to the United States and hold nuclear negotiations with him while eating hamburgers, according to news reports.

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

Auditor detects huge DSME accounting manipulation

Daewoo Shipbuilding and Marine Engineering’s current difficulties were fueled by neglect by its biggest shareholder Kor...

Korea concerned about fallout from U.S.-China trade discord

Concerns are mounting here over the impact on Korea’s manufacturing exporters of the intensify...

A reality check on ‘Korean IB’ dream

Global investment banking giants lament that their glory days are over. But for many Koreans, i...

'Women face higher smartphone addiction risk'

Kim Ji-yeon, a 25-year-old Seoulite, starts her day by checking her Instagram. She usually post...

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

Defection a bad idea, North Korea tells officials 

Rising defector numbers have forced the North Korean government to tell its high-ranking officials... 

Army to deploy delivery drones in 2018 

The Army plans to deploy unmanned aerial vehicles (UAVs) designed to deliver supplies to troops as... 

Sackings over adultery stir controversy 

Along with the Constitutional Court’s landmark ruling in February last year to decriminalize adult... 

English edition of Korean labor law book goes on sale 

The bilingual “The Korean Labor Law Bible” includes newly enacted articles, in-depth explanations ... 

Translation work is creative rewriting 

Deborah Smith, the British translator of the “The Vegetarian” by Han Kang which won the 2016 Man B...

Government, private think tank clash over job statistics 

Statistics Korea’s jobs report for May -- and the youth unemployment rate in particular -- had drawn the attention of economists well before its release on We...

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DongAIlbo (http://english.donga.com)

Chinese spy ship enters Japanese waters for first time since 2004

Kenji Kanasugi, director-general of the Japanese Foreign Ministry’s Asian and Oceanian Affairs Bureau, lodged a protest with the …

Hanwha Total completes 40,000-ton LNG tank

Hanwha Total said on Wednesday that it completed a 40,000-ton LNG tank at its Daesan Plant in Seosan City, South Chungcheong Prov…

Kanasugi named Japan’s chief negotiator for six-way talks

The Japanese government held a cabinet meeting on Tuesday, and appointed Kenji Kanasugi (56) as director-general of the Asia-Paci…

'The Internet of Us' author warns against too much Internet dependence

Michael Lynch, professor of philosophy at the University of Connecticut and scholar in epistemology, joined a seminar held in cen…

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ChosunIlbo (http://english.chosun.com)

China Bans More Exports to N.Korea

China on Tuesday banned the sale to North Korea of about 40 goods and technologies that could be used to make nuclear weapons and missiles.The move came two months after Beijing banned trade of 25 goods after the UN Security Council adopted sanctions against the North.

Novice and Elderly Drivers Cause Different Accidents

Elderly drivers are more prone to accidents involving illegal lane crossings, while novice drivers cause more collisions, according to the Korea Transport Institute. It analyzed 5,348 traffic accidents between 2011 and 2013 involving damage to people.

Korea to Privatize Power Grid

The government will partially privatize the power and gas grid now monopolized by state-run KEPCO and Korea Gas Corporation. The aim is to end the decades-long monopoly of the state-run companies over the utilities and make the bloated businesses more efficient.

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HankyorehShinmoon (http://english.hani.co.kr)

New platform connects artists with supporters, for just 3,000 won

Last November, at a live music club in Daegu, university student Jang Dong-hyeon, 25, felt a thrill while watching a performance by the rock band Black’s Hot. “Wow, who knew there were bands as great ..

Public left with the burden of digging out of Lee MB administration’s financial hole

The Park Geun-hye administration has come out with major plans for public institution reforms nearly every year since taking office in 2013. The plans include ideas for reducing debt, merging and elim..

Two 19-year-olds find what makes them happy, while volunteering overseas

The two warm-hearted, assertive 19-year-olds, Kim Ju-ah and Choi Su-jeong, are currently volunteering at the Women‘s Development Centre in Yangon, Myanmar, as members of the Korea International Cooper..

Web platform that advocates “hating misogynists” mounts lawsuit against Facebook

After the Facebook page of Megalia, an online community that advocates “hating misogynists,” was deleted two times last year, community leaders are taking legal action against Facebook. As of June 13,..

“Youth In Bloom” project to show former comfort women at their most beautiful

Beauty in Now, a company that runs a mobile phone application that provides information about beauty parlors, has launched the “Youth In Bloom” project, which is designed to provide the former comfort..

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JoongAngIlbo(conservative): (http://koreajoongangdaily.joinsmsn.com/)

Lotte scion apologizes for tumult

Lotte Group Chairman Shin Dong-bin spoke publicly for the first time Tuesday since prosecutors started…

Lawmakers protest ‘unfair’ committee assignments

Rookie lawmakers are increasingly protesting their standing committee assignments as they feel allocations…

Hyundai, Uber may partner on self-driving cars

Hyundai Motor may join ride-hailing giant Uber’s ongoing project to operate self-driving vehicles by 2020…

Asiana works to help local schools in China

Asiana Airlines, one of the nation’s two major airlines, established a partnership with an elementary school…

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The KyunghyangShinmoon (http://english.khan.co.kr/)

Crack Down on Chinese Fishing Boats That Refuse to Withdraw: More than Just a Warning

The military and the Coast Guard seized two Chinese fishing boats that had entered neutral waters near the mouth of the Han River on June 14. The crack down was···

Are Government Appointed Presidents and Privatization What the Government Means by Reforms in Public Institutions?

Yesterday, the government released plans to adjust the functions of public institutions in the energy, environment and education field. The plan will basically open the sale of electricity and the ins···

Interview: If there’s a Brexit, is the EU doomed?

You pointed out the EU for not pulling their weight recently. Especially, you mentioned that the small and destitute nations were isolated by the EU. But it ···

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The Korea Economic Daily (http://english.hankyung.com/)

Samsung to Invest $21 Bil. in NAND Chip Capacity to Keep Its Leadership

nbsp; Samsung Electronics will invest 25 trillion won (US$21.3 billion) on NAND flash memory capacity by the end of next year. This is as part of a plan to dominate the market segment so that any other incumbent rivals like Toshiba and Micron Technology as well as new entrants such as Intel and XMC of Chi...

May Import Prices Hit Record High in 7 Months

Import prices in May 2016 have risen to a high in seven months due to a depreciation in the won-dollar exchange rate and an increase in international oil prices. According to a report "May 2016 Export/Import Price Index" published by the Bank of Korea on June 15, last month's import price index was ...

Gov’t to Privatize Electricity and Gas Sale and Import Markets

The electricity sales market and the gas import and sales market, which have long been monopolized by state-run companies, will be open to private companies on a step by step basis, while overseas resource development projects, run by state-owned enterprises, will be liquidated, excluding core asset...

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AJU Business Daily (http://eng.ajunews.com/korea)

Luxury foreign brand watches and jewelery confiscated from former Daewoo shipyard official

A police showroom on the southern island of Geoje shows luxury foreig…

Hanjin Group boss uses private wealth for capital increase

Hanjin Group boss Cho Yang-ho and his family have agreed to donate their personal wealth and…

Samsung shipyard reveals cut in workforce and wages

Samsung Heavy Industries, a troubled shipbuilding arm of South Korea's…

Former Daewoo shipyard official arrested for embezzling $15 mln

A former Daewoo shipyard official has been arrested for embezzling a company fund of 15 milli…

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ETNEWS (http://english.etnews.com/)

Refurbished iPhones Start to Infiltrate into South Korea’s Cellphone...

Apple¡?s refurbished iPhones are spreading throughout South Korean markets and this is a result of ¡®premium and inexpensive phones¡? beco...

APP to Start a New Business Culture Jun 16, 2016 Share 

APP (CEO Kang Bang-kwon), which is a business that specializes in atmospheric plasma equipment, is working on establishing a business culture that will provide employees wit...

KT M-Mobile to Start Free Cellphone Rental Service Jun 15, 2016 Share 

KT M-Mobile has started a free cellphone rental service on the 14th. Corresponding models will be iPhone 5, iPhone 5S, Galaxy S5, Galaxy Note 3, and G3 Cat.6....

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MaeilBusinessNewsKorea (http://www.pulsenews.co.kr/ )

Samsung Heavy Industries to shed workforce up to 40%

South Korea’s Samsung Heavy Industries Co. geared up for stringent austerity and cutback that could scale down its workforce by ...

S. Korea’s youth jobless rate hits fresh monthly high for May

The unemployment rate for Koreans aged between 15 and 29 hit a record monthly high of 9.7 percent in May, and jobless rate ...

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The Korea Post is at your service.

The Korea Post, established 31 years ago in 1985, operates five news media outlets, two in the Korean language and three in English.

They are all at your service. You can email all your English and Korean press releases and feedback for free publication to edt@koreapost.comor korpost@chol.com. The five media outlets are:

(1) A Korean print newspaper (http://www.koreapost.co.kr/pdf/list.php),

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(5) An English e-daily (/rankup_module/rankup_notice/notice_list.html)

Send your news releases and feedback:

Send the Embassy news releases to edt@koreapost.comfor publication by all its five media units, including one Korean (www.koreapost.co.kr) and one English (www.koreapost.com) Internet dailies, which are updated real-time.(Call 010-5201-1740 for further details.)

Special notices:

Send your latest Embassy news releases toThe Korea Post for publication

Your Excellency:

Send your latest press release(s) in Korean to(www.koreapost.co.kr) for immediate publication and in Englishto korpost@chol.com.

They are published by the five media outletsof The Korea Post, including the Korean-language Internet newspaper, English website and the Korean-language newspaper (http://pdf.koreapost.co.kr/13/1301.pdf).

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman of The Korea Post

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Include The Korea Post chairman in your Kakaotalk partner list for HOT NEWS!

His personal mobile phone number is 010-5201-1740.

Chairman Lee has a lot of up-to-minute hot information to be shared with Your Excellency. Do your esteemed country a favor and bring the two great countries closer together using Chairman Lee Kyung-sik of The Korea Post, who owns and operates five print and Internet news media, including Korean-languagewww.koreapost.co.kr, English www.koreapost.com and Korean-language newspaper http://pdf.koreapost.co.kr/14/1401.pdf. Use Chairman Lee and his five news outlets for the sake of your great country!

Many ambassadors are already Kakaotalk news sharers with Chairman Lee!

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Invitation to a two-day tour of Boryeong Mud Festival

I am pleased to inform Your Excellency that Mayor Kim Dong-ill of the Boryeong City cordially invites Your Excellency and Madam to a two-day tour of the 19th Boryeong Mud Festival at the picturesque Daecheon Beach (some 119 miles south of Seoul) on Saturday-Sunday, 16-17 July 2016. It was designated by the Government as the Best Festival of the Republic of Korea.

The itinerary is as follows:

Day One: 1200 hours, Saturday 16 July 2016: Meet at Grand Hyatt Seoul (by the water fountain)

1200-1400 hours: Move to Boryeong City by Limousine bus. High-quality lunch box served on the bus.

1400-1500 hours: Check in at the Westopia Tourist Hotel.

1500-1620 hours: Watch street parade at the Dongdae-dong Rotary.

1620-1800 hours: Have hands-on experience in mud festival activities.

1800-1930 hours: Attend welcome dinner in honor of the ambassadors and spouses.

1930-2200 hours: Attend opening ceremony and watch opening ceremony performances.

2200 hours: Check in at the hotel for the night.

Day Two: 0800-0900 hours, Sunday 17 July 2016: Breakfast at the hotel, and check out.

0900-1200 hours: Visit Ongma-jeon Pavilion, Seongju Castle Site, Seongju Mountain Rest and Recuperation Forest, Cypress Forest, and tour Gaehwa Art Park.

1200-1300 hours: Farewell luncheon at the Gaehwa Art Park Reception Hall and presentation of Plaque of Appreciation to the Mayor by the Dean of the visiting members of the Seoul Diplomatic Corps. (The Plaque will be prepared by The Korea Post.)

Please indicate your interest in the following space:

Yes, we___(I alone___) will attend. Emergency cellphone number____________________

Contact phones of The Korea Post: 2298-1740/2, mobile 010-3388-1682 (Ms. Kim Jeong-mi for Korean callers) or 010-5201-1740 (Chairman Lee for English callers).

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

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Invitation to the 2016 Yecheon World Insect Expo

I am pleased to inform Your Excellency that Mayor Lee Hyun-joon of the Yecheon County of Gyeongsangbuk-do Province cordially invite Your Excellency and Madam to attend the Opening Ceremony of the 2016 Yecheon World Insect Expo on Saturday July 30, 2016, which is attended by Prime Minister Hwang Kyo-ahn on behalf of President Park Geun-hye. Please visit: /news/view.html?section=161&category=181&no=1303 for details of the Expo.

The itinerary of the Tour is as follows:

1330 hours Saturday 30, 2016: Meet at Grqand Hyatt Seoul (near the Water Fountain).

1330-1630 hours: Move by Limousine Buses to Main Venue of the Inspect Expo.

1630-1700 hours: Visit the Main Theme Hall of the Expo, Amusement Park, Industrial Pavilion, and the Parblue Garden.

1700-1715 hours: Move to the Dinner Banquette Hall of the Yecheon Wedding Hall.

1715-1815 hours: Attend Dinner hosted by Mayor and Mrs. Lee Hyun-joon.

1830-1900 hours: Attend the Opening Ceremony of the 2016 Yecheon World Insect Expo.

1900-2200 hours: Move back to Seoul arriving at Grand Hayatt Seoul.

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

The Korea Post phones: 2298-1740/2, mobiles 010-3388-1682 (Korean) and 010-5201-1740 (Chairman Lee Kyung-sik).

RSVP: Yes, my spouse and I will attend_______. I will attend alone_______.

Mobile phone of driver or secretary:_________________________.     Regrets:_____.

(Please mark the blank spaces above and below with an X or Tick and revert to edt@koreapost.com.)

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