July 28, 2016

TheKorean daily media headlines and humor

Thursday, July 28, 2016

Your Excellency:

Here areThe KoreaPost notices and around up of important headlines from all majorKorean-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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A rare chance to learn the latest construction technologyof Korea

Invitation of Excellenciesto the Korea Institute of CivilEngineering and Building Technology

(On the scenic and environmentally clean Northwestern our skirtsof Seoul)

Iam pleased to inform Your Excellency that President Tai-sik Lee of the KoreaInstitute of Civil Engineering and Building Technology (KICT) of the Ministryof Construction cordially invites Your Excellency and Madam to a tour of theInstitute on Friday August 19, 2016.

Ifdesired, Your Excellency could be accompanied also by a construction- and/oreconomic officer of the Embassy. Please visit: /news/view.html?section=160&category=179&no=1327.

Itrust that the Tour would provide Your Excellency with a rare opportunity tohave a glimpse into the advanced construction technology of Korea and that itwould be extremely conducive to the promotion of understanding and cooperationbetween Korea and your esteemed country in the area of construction. Theitinerary follows:

0830 hours Friday 19 August 2016: Meet at Grand Hyatt Seoul(near water fountain).

0830-0920 hours:Move by Limousine Buses to the Head Office of the Korea Institute of CivilEngineering and Building Technology in Ilsan northwest of Seoul.

0920 hours: VisitingExcellencies and Madams to be welcomed at the Entrance Hall.

0930-1120 hours:Introducing of visiting Excellencies and Madams and also the leaders of KICT.Welcome remarks, presentation of Plaque of Appreciation to the KICT presidentand memorial gifts to the visiting Excellencies and other diplomats.

1120-1130 hours: Photo session.

1130-1220 hours: Inspection ofvarious facilities, including BIM Room.

1230-1400 hours: Attend buffetluncheon attended also by the CEOs of small-medium industries.

1400 hours: Leave KICT for Grand Hyatt Seoul.

VeryRespectfully Yours

/s/

LeeKyung-sik

Publisher-Chairman

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

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

Mobilephone of driver or secretary:____________________.     Regrets:_____.

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Lastchance to join the Yeocheon tour:

Forlast-minute participation registration information on the Yeocheon International Insect Expotour, which is only two days away on the upcoming Saturday July 30, 2016,please call 010-5201-1740 for last-minute registration and scroll down to thebottom for details.

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Correction

In our Who’s Who among the Ambassadors in ourlast issue, we inadvertently missed the changingof the name of the formerambassador of Paraguay while we posted the photograph of the new ambassador,His Excellency Ambassador RaulSilveroSilvagni. We regret our negligence.?The Editor.

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Aquick roundup of major news stories from the Korean news media today:

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

ASEANRegional Forum Expresses Concerns over N. Korean Nuclear, Missile Tests

The ASEANRegional Forum(ARF) has adopted a chairman's statement, expressing concernsover North Korea's nuclear and missile tests. The ARF chair...

PMDelivers Park's Budget Speech to Assembly 

President ParkGeun-hye is urging the nation's lawmakers to swiftly pass the administration'seleven trillion won supplementary budget to produce...

USReaffirms Commitment to Defend S. Korea

ASEANRegional Forum Expresses Concerns over N. Korean Nuclear, Missile Tests

PMDelivers Park's Budget Speech to Assembly 

KOSPI,KOSDAQ Slip on Wednesday

PresidentialOfficial Rejects N. Korean FM's Confrontational Approach

S.Korea, World Bank Discuss Financial Contribution in IDA

Gov'tMarks Anniv.of Korean War Armistice in a Ceremony

USCautions N. Korea against Destabilizing Rhetoric

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

SamsungC&T named top S. Korean builder in 2016

SamsungC&T Corp., the largest builder in South Korea in terms of sales, has beennamed the best builder in terms of building capacity, the government saidThursday.

Ssangyong,Jaguar cars recalled over safety and fuel efficiency issues

SsangyongMotor Co., the South Korean unit of Indian carmaker Mahindra & MahindraLtd., will recall over 2,600 units of its flagship Korando C sport utilityvehicle sold her...

Trumpvows again to renegotiate trade, defense deals

Republicanpresidential nominee Donald Trump vowed again Wednesday to renegotiate tradeand defense deals the U.S. has with other countries.

S.Korea, U.S. agree to make intensive efforts to cut off cash flows into N.Korea 

South Koreaand the United States agreed Wednesday to make intensive efforts in the comingmonths to cut off cash flows into North Korea so as to limit Pyongyang's a...

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The KoreaHerald (http://www.koreaherald.com)

Youthemployment policy gets nowhere

Since itsinstallment in February 2013, President Park Geun-hye’s administration has putincreasing youth employment on...

Clintonwins historic nomination

HillaryClinton formally clinched the Democratic Party's presidential nominationTuesday as opi...

NamJune Paik in the age of social media

Nam June Paik,a pioneer of video art, is both famous and unknown to many in Korea. A query on...

Comfortwomen’ fund set for shaky start

Seoul willlaunch a 1 billion yen ($9.5 million) fund on Thursday for the victims ofJapan’s s

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The KoreaTimes (http://www.koreatimes.co.kr)

Japanesefight to block 'comfort woman' statue in Sydney 

A Japanesegroup is opposing the “Statue of Peace” to be erected in Sydney on August6. 

S.Korean soldier 'innocent' over Kim Jong-il admiration 

An appealscourt has cleared a former South Korean soldier of charges over his admirationof forme...

Hightobacco tax means low happiness, acute corruption: report 

The higher theshare of tobacco taxes in a country’s total revenue, the lower its people’ssense of happiness and perception of corruption, a study said Wedne... 

KangJung-ho's alleged sexual assault victim identified 

The victim ofPittsburgh Pirates third baseman Kang Jung-ho’s alleged sexual assault has beeniden... 

MoreRussians banned from Rio Games 

The list ofRussian athletes banned from competing at the Rio Olympics is growing. So far,105 hav...

40%of corporate recruiters receive job favors requests 

Four out of 10corporate human resources officers have experienced receiving job-relatedrequests, and one in four admits there is an employee who entered the...

Korea'slabor indexes remain below OECD average 

Various Koreanlabor-related indexes -- as shown by the oldest retirement age, thethird-longest working hours and low minimum wage -- fall far short of the O...

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

HillaryClinton 'puts the biggest crack in glass ceiling'

Former U.S.Secretary of State Hillary Clinton has become the first woman in U.S. historyto win the presidential nomination of a…

N.Korea sends propaganda leaflets via Han River for 1st time

North Korea isfound to have sent plastic bags containing propaganda leaflets targeting SouthKoreans through the Han River. It i…

LGDisplay to invest 2 trillion won in POLED

The world'slargest panel maker LG Display is investing 1.99 trillion won (1.75 billionU.S. dollars) in production lines for pla…

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

N.Korean Ex-Officer Takes Refuge in Hong KongConsulate

Security has been beefed up around the South KoreanConsulate in Hong Kong after a former North Korean military officer soughtrefuge in the mission recently, media reports said Wednesday.

Over 2 Million Foreigners Live in Korea

The number of foreigners living in Korea has doubled inthe last decade to surpass 2 million, the Justice Ministry said Wednesday. Theexact number of foreign residents was 2,001,828 as of the end of June thisyear, accounting for 3.9 percent of the total population.

LG Challenges Samsung in OLED Market forPhones

LG Display will invest almost W2 trillion to produceorganic light-emitting diode screens for smartphones, encroaching on the territoryof rival Samsung (US$1=W1,136). LG currently makes only large OLED monitors forTVs.

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

SouthChina Sea issue holds up statement summarizing ASEAN foreign ministers meeting

China isworking to exclude any mention of Hague ruling against it from the meeting‘sfinal statement

Areturn of South Korea’s diplomatic nightmare of 1994?

It was around11 am on July 25, and reporters from South Korea, Japan, and other countrieswere hovering in front of the VIP lounge (Room 12) and conference room (Room15) of the National Convention Center in Vientiane.

N.Korean foreign minister says denuclearization“seems to have been lost”

On July 26,North Korean Foreign Minister Ri Yong-ho held a press conference at theInternational Convention Center in Vientiane.

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

North sends propaganda down Han River inplastic bags

South Korea’s military accused Pyongyang of sendingdozens of plastic bags stuffed with pro-North Korea leaflets…

Anticorruption law threatens a lot ofconfusion

With only two months before a sweeping new graft acttakes effect, concerns are high that the anticorruption watchdog…

Consumer sentiment was positive in July

Consumer confidence in the Korean economy improved inJuly, thanks to eased concerns over external factors…

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

Mirae Asset REITs to Make IPOs in ForeignBourses Next Year

Mirae Asset Global Investments will take real estateinvestment trusts (REITs) public in stock exchanges in the United States andSingapore. This is intended to amass trillions of won to invest in real estateproperties across the world. This is the first instance for a Korean investmentfirm to lis...

Hanwha Group to Acquire Remaining 50% Stakein Hanwha Thales from French Parent

Hanwha Group said on July 27 that it would acquire theremaining 50-percent stake of Hanwha Thales held by France's weapons manufacturerThales Group at 288 billion won after a "big deal" with Samsung lastyear in which it took a 50-percent stake in the joint venture. This is inresponse to Thales' ...

Cosmax Kicks off Halal Cosmetics Production

Korean cosmetics firms are making bigger forays into theHalal cosmetics market whose size is estimated at about US$70.5 billion acrossthe world. Drawing attention is whether the K-beauty fever can be felt stronglyin the Muslim world following the earlier success in China. Cosmax, a specialistin...

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The KoreaEconomic Daily (http://english.hankyung.com/)

2Q Economic Growth Remains below 1% for 3Consecutive Quarters

The second-quarter economic growth rate has remained at0.7 percent. Even though domestic consumption and export turned to positivefigures quarter on quarter, the growth rate was unable to break out of the1-percent barrier for three consecutive quarters. The government's fiscalspending that has s... 

Nonghyup Bank Tightens Its Loans to SamsungHeavy

Nonghyup Bank will try to recover its loans made out toSamsung Heavy Industries instead of renewing their terms when they are due inOctober this year. This will be the first instance in which a commercial bankcalls in its loans from large corporations after the government started itsrestructuring...

Oil Price May Fall back down below $40 aBarrel

A pessimistic outlook on the international oil prices isspreading widely so that the price may decline below the US$40 level a barrelagain due to a supply glut, weak demand, and mounting inventory. The Septemberfutures price of West Texas Intermediate fell 2.4 percent to $43.13 at the NewYork Me...

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AJU BusinessDaily(http://eng.ajunews.com/korea)

Babyname site spots increase in newborns named after P…

Eevee fromPok?mon [Courtesy of Nintendo] A baby name tracking site BabyCenter spotted anincrease in parents naming their newborns after Pok?mons, The Telegraph…

Appleto drop price of upcoming iPhone by $100: Leaks

Screenshotcaptured from Korean version of Apple's online store [Courtesy of Apple] Applemay drop retail price of upcoming iPhone by approximately 10,000 ye…

SonYe-jin confesses blaming director of 'DeokHye Ong …

South Koreanactress Son Ye-jin confessed Wednesday during a press premier of a historicfilm "DeokHye Ong Ju" that she…

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

[Global e-shopping]ARDEN BIKE WEAR: targetingthe world-market with its made-in-Korea bike wear

Either to work or as part of one’s leisure time, riding abicycle is not out of the ordinary any more. It is now embedded in one’severyday activities, thus many people are looking for bike wear for

Commission for South Korean Robo-Advisors toBe More Expensive than American Robo-Advisors

It is seen that Robo-Advisors that South Koreanconsulting companies put out have higher commission and higher membership costthan American Robo-Advisors because market is not formed as it is suppose

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

Korea’shousing guarantee fund drying up amid growing supply of new homes

Guarantee fundat the Korea Housing & Urban Guarantee Corp. (HUG), a state-run institutionthat provides housing completion guarantees to construction firms and issueswarranty on housing ...

HanmiSemiconductor attracts another investment from PayPal co-founder Peter

South Korea’sleading semiconductor equipment supplier Hanmi Semiconductor Co. said onWednesday that it will receive an ...

LGDisplay pledges $1.7 bn to expand flexible OLED capacity

South Korea’sLG Display Co. will invest around $1.7 billion to ramp up yield of small and mid-sizedorganic light-emitting ...

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The Korea Post is at your service.

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

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

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

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

Sendyour news releases and feedback:

Sendthe Embassy news releases to edt@koreapost.comforpublication 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 forfurther details.)

Specialnotices:

Sendyour latest Embassy news releases toTheKorea Post for publication

Your Excellency:

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

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

VeryRespectfully Yours

/s/

LeeKyung-sik

Publisher-Chairmanof The Korea Post

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

Hispersonal mobile phone number is 010-5201-1740.

ChairmanLee has a lot of up-to-minute hot information to be shared with YourExcellency. Do your esteemed country a favor and bring the two greatcountries closer together using Chairman Lee Kyung-sik of The Korea Post, who owns and operates five print and Internet newsmedia, including Korean-language

www.koreapost.co.kr, English www.koreapost.com and Korean-languagenewspaper http://pdf.koreapost.co.kr/14/1401.pdf. Use Chairman Lee and hisfive news outlets for the sake of your great country!

Manyambassadors are already Kakaotalk news sharers with Chairman Lee!

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Mayor Lee Hyun-joon of the YecheonCounty cordially invites all the ambassadors, spouses

YecheonCounty government hosts World Insect Expo Yecheon 2016

Locatedat the foot of 1,430-meter high Mt. Sobaek in southeastern part of Korea,Yecheon County has been preserving clean environment with thick foreststhroughout the region. Capitalizing on this clean and eco-friendly environment,the Yecheon County government initiated programs of researching and developingindustrial insects by establishing an industrial insect research institute in1998 ahead of other local autonomous governments. Based on researchachievements, resources and experiences accumulated for a decade, the Countyauthority hosted the first insect expo in 2007 and the Insect Bio Expo in 2012when it showcased as many as 330,000 insects of 100 species, such as honeybees, osmiacornifrons, dynastid beetles, dorcushopeis and protaetiabrevitarsis.(Please scroll down to the bottom for the Mayor’sLetter of Invitation at the bottom of this Report.)

Acknowledgingachievements and programs, the then Ministry of Knowledge Economy (now integratedinto the Ministry of Trade, Industry and Energy) designated the County as thespecial zone of insect industry in 2009. Encouraged by the designation, themunicipal government has been concentrating efforts on developing andcommercializing insects as well as development of eco-friendly agriculture. Italso built the ecology institute of insects and a butterfly observation park.

Havinggrown as the home of insects, the Yecheon County government will hold the WorldInsect Expo Yecheon 2016 for 17 days from July 30th (Saturday) to August 15th(Monday), 2016 organized by Yecheon Insect Expo Organizing Committee under thetheme of ‘Smart Future Together with Insects’. The expo is designed to showcasethe mysterious world of insects and vision of insect industry through a largevariety of things to see, experience and enjoy at diverseeco-edutainment-oriented programs of exhibitions, festivals and events. Theexpo facilities will be consisted of six major spaces, including the insecttheme hall, insect experiencing hall, insect industry hall, Fabre’s garden,insect ecosystem park and bio-industry exhibition hall.

EcologicalExperience Hall

Asthe world’s largest insect exposition, programs and events of the World InsectExpo Yecheon 2016 will include special exhibition of edible insects, rareinsects and endangered insects, insect cooking contests, insect food cookingshow, experience of insect foods, children’s cartoon contest with live drawingshow of Kim Pung, a popular webtoonist, eco-friendly painting contest ofchildren, and operation of insect-featuring 3D video show, using thesefacilities. Symposiums on insects and insect industry will also take placeduring the Expo.                     

Theinsect theme hall will provide visitors with a chance of reevaluating inherentvalue and features of insects, and exploring future life by presentingpotentiality of insect industry. It will introduce the interesting world ofwaterside insects that fiercely struggle for existence, forest insects thatbuild environment, and smart insects in cities. It will also deliver necessityof the insect industry that emerges as an alternative for preventingdestruction of environment and shortage of resources by highlighting insectsthat help man and keep ecosystemic relations with mankind. At the same time,the hall will display value of insects as sustainable future alternativeresources, and world situation and vision of edible insect industry andinsect-driven eco-friendly agriculture, as well as future technologies thatleverage capabilities of super insects, such as biotechnology, green technologyand robot technology.

Inother halls, including insect experiencing hall, insect industry hall, Fabre’sgarden, insect ecosystem park and bio-industry exhibition hall, they arouseinterest in insects, showcase performance and technologies related with insectindustry, provide information on inherent features of insects, and publicizethat creative agriculture is a vital industry and future growth engine throughsymposiums and workshops. Among programs and events, particularly noteworthyones are the first and premium insect food contest, insect food cooking andtalk show taken part by prominent chefs from Korea, Japan and Bulgaria, andinternational symposium on insect bioindustry.

Asthe venue of the World Insect Expo Yecheon 2016, Yecheon County has a number oftourist attractions, including the Yongmun-sa, a Buddhist temple with historyof over 1,100 years, a 600-year old pine tree named Seoksongryeong, andGeumdangsil Traditional Village. The Yongmun-sa Temple has several nationaltreasures including the Daejangjeon, the oldest wooden building in Korea, andMokbuljwasang, a wooden Buddhist statue. The old pine tree, Seoksongryeong, isunique in that it pays tax to the municipal government as the owner of a largearea of land. The Geumdangsil Traditional Village is preserving manytraditional Korean houses and shrines of ancient aristocrats including a99-roomed house of Lee Yuin, a high-level government official in the JoseonDynasty. Most of these ancient buildings are designated as cultural assets.Another cultural asset in the Village is a dolmen of the Bronze Age.

InsectBio Expo Yecheon 2012

Panoramicview of Yecheon World Insect Expo 2012

Accreditedby International Congress of Entomology (ICE)

Invitationto the 2016 Yecheon World Insect Expo

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

Theitinerary of the Tour is as follows:

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

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

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

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

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

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

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

VeryRespectfully Yours

/s/

LeeKyung-sik

Publisher-Chairman

TheKorea Post phones: 2298-1740/2, mobiles 010-3388-1682 (Korean) and010-5201-1740 (Chairman Lee Kyung-sik).

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

Mobilephone of driver or secretary:_________________________.     Regrets:_____.

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

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