October 7, 2016

TheKorean daily media headlines and humor

Friday, October 7, 2016

Your Excellency:

Here areThe KoreaPostnoticesandaroundup 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

What’sticking in Korea today?

Hereis a quick roundup of important news stories from the major Korean news mediatoday:

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

S.Korea Military in Emergency Mode due to Possible N. Korea Provocations

Anchor: TheSouth Korean military has entered an emergency standby mode on suspicions thatNorth Korea could carry out provocations around the anniversary of its rulingparty which falls on October tenth. Officials are not ruling out thepossibility that a provocation could be a sixth nuclear test or anintermediate-range ballistic missile launch. Our Kim In-kyung has more.

Seoul'sForeign Minister Calls for Tougher Diplomatic Measure Against N. Korea

ForeignMinister Yun Byung-se has called on the international community to considertaking a tougher stance against North Korea given its growing nuclear threat,including severing diplomatic relations with the regime.

70%of Americans Support Stationing of US Forces Korea

A survey showsthat seven out of ten Americans support the stationing of the U.S. forces inSouth Korea.

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

Parkvisits virtual reality exhibition to promote VR technology as growth dynamo

SEOUL, Oct. 7(Yonhap) -- President Park Geun-hye on Friday visited a virtual reality (VR)exhibition in Seoul to provide fresh momentum to her government's drive tonurture the promising technology sector as a new growth engine.

N.K.media's use of belligerent rhetoric hits 3-year high: data

SEOUL, Oct. 7(Yonhap) -- The use of belligerent rhetoric by North Korea's state media hit athree-year high this year as the North heightened its nuclear and missileprovocations, a Pyongyang monitoring website showed Friday.

S.Korea's import vehicle sales continue to drop on Volkswagen woes in Sept.

SEOUL, Oct. 7(Yonhap) -- Sales of imported cars in South Korea continued to drop sharplyfrom a year earlier last month following the recent ban on sales of 80 Audi andVolkswagen car models here after an emissions scandal, industry data showedFriday.

Presidentialoffice says it is keeping close tabs on N.K. military activities

SEOUL, Oct. 7(Yonhap) -- South Korea's presidential office Cheong Wa Dae said Friday it iskeeping close tabs on North Korea's military movements, amid speculation thatPyongyang would engage in yet another provocation to mark a set of anniversaryevents slated for next week.

Annualhistorical festival kicks off in Seosan

SEOSAN, SouthKorea, Oct. 7 (Yonhap) -- An annual historical festival opened in the westerncity of Seosan Friday, offering a host of traditional activities inside thewalls of a well preserved fortress.

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

SamsungElectronics estimates Q3 operating profit to rise 5.55%

SamsungElectronics Co. predicted Friday that its third-quarter operating profit mayrise 5.55 percent on year, despite a global recall of the Galaxy Note 7smartphones.

Questionslinger over defense against NK nukes

Despite theenvisioned deployment of an anti-missile system here, doubts linger over SouthKorea’s defense capacity in the face of ever-growing nuclear and missilethreats from North Korea.

Anti-graftlaw expected to restrict culture industry

The followingis the sixth in a series of articles featuring the impact of the landmarkanti-corruption law that took effect on Sept. 28. - Ed.

With therecent introduction of a new anti-corruption law, countless questions loom asto the extent of its impact on Korean society as well as certain industries.

BusanFilm Fest opens with muted fanfare

BUSAN -- Theopening ceremony of the 21st Busan International Film Festival was heldquietly, without its usual display of fireworks, but to enthusiastic applausein a packed outdoor theater at the Busan Cinema Center on Thursday evening.

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

TyphoonChaba leaves hundreds of victims

Seven peoplewere killed, three are missing and hundreds have fallen victim to floods afterthe powerful typhoon Chaba hit southern parts of the country between Tuesdayand Wednesday. Chaba was the strongest typhoon since Maemi in 2003.

Banks'harsh foreclosure policy forces thousands onto streets

In 2010, asmall business owner surnamed Chang, 61, borrowed 530 million won ($475,700)from a bank, offering his apartment in western Seoul as security.

Salesof imported cars keep declining in Korea amid Volkswagen scandal

Sales ofimported cars in South Korea continued to drop sharply from a year earlier lastmonth following the recent ban on sales of 80 Audi and Volkswagen car modelshere after an emissions scandal, industry data showed Friday.

[ProvincialNews] Travel to 'Joseon Kingdom' at history festival in Seosan

An annualhistorical festival opened in the western city of Seosan Friday, offering ahost of traditional activities inside the walls of a well preserved fortress.

Koreangolfer Pak Se-ri to officially retire next week

A retirementceremony has been scheduled for the South Korean golf legend Pak Se-ri duringan LPGA Tour event on her native soil next week, organizers said Friday.

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

Elitedefectors seek to found ‘N.K. government in exile’ in U.S.

Elitedefectors from North Korea who are living overseas and heads of major NorthKorean defectors’ organizations in South Korea are reportedly planning to founda "North Korean government in exile" in the U.S. in next year. Asmore ranking officials are defecting North Korea lately amid growing antipathytoward the Kim Jong Un regime among its power elites, the defectors are seekingto form a focal point for a campaign to democratize the North.

Chinesepresident may delay naming successor

ChinesePresident Xi Jinping may delay naming his successor, some observers say. TheNew York Times reported Tuesday there is speculation that Xi appears preparedto delay the designation of his successor until after a party congress nextyear to extend his stay in power. Earlier, the AFP news agency reported that asecret meeting of Chinese leaders in Beidaihe in August discussed ways to letXi remain in office as the general secretary of the Communist Party of China,possibly breaking the party’s established practice of power transfer after a10-year rule.

SNUto open a classroom to honor modern poet Lee Byung-gi

Seoul NationalUniversity will open a classroom honoring Lee Byung-gi (see photo) (1891-1968),known for his pen name Garam. He was an independence fighter who initiated amovement of using the Korean alphabet by creating a research group studyingKorean language under the Japanese colonial rule and also a pioneer whodeveloped modern Korean poetry. The university’s College of Humanities said onThursday that it will open a classroom honoring the scholar in Room 105 ofBuilding14.

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

60% of Americans Feel Threatened by N.KoreanNukes

Sixty percent of Americans think of North Korea's nucleardevelopment as a "critical threat" to the U.S., a poll suggests.

Ex-U.S. Military Chief Suggests PreemptiveStrike on N.Korea

A former U.S. military leader has called for a preemptivestrike on North Korea to prevent further provocations after its fifth nucleartest earlier this month.

N.Korea 'Could Conduct Nuclear Test Any Time'

North Korea is ready to conduct another nuclear test anytime, the Defense Ministry here said Monday.

N.Korean Missile Launch 'Practiced PreemptiveNuke Strike'

North Korea's launch of three ballistic missiles onTuesday was a drill to practice a preemptive nuclear strike on U.S.reinforcements in South Korea, North Korea claimed Wednesday.

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

RobertGallucci says “the North Korean case is not like fine wine”

A growingnumber of US experts are calling for dialogue with North Korea, instead ofsingle-minded focus on sanctions

Calls aregrowing louder in the US for Washington abandon its focus on sanctions in NorthKorea policy and negotiate with Pyongyang.

[Interview]Former US Secretary of Defense favors “three Nos” on North Korean nukes

William Perrysays Bush administration’s cutting off of negotiations allowed North Korea todevelop nukes

Survey:increase in percentage of S. Koreans who see N. Korea as “cooperation partner”

Annual uptickin positive perceptions is at odds with the Park Geun-hye administration’shardline North Korea policy

USstepping up pressure in cutting of North Korea from international finance

Daniel Russelalso says that US and South Korea are looking to deploy THAAD “as soon aspossible”

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

Busan’styphoon woes were partly man-made

Residents of aluxury residential complex by the sea in Busan apparently opposed governmentplans to build a higher breakwater - possibly leading to major property damageinflicted by a deadly typhoon.

Hedgefund challenges Samsung

ElliottManagement Corp., a U.S. hedge fund, called on Samsung Electronics Wednesday tosplit into a listed holding company and a listed operating company and to giveout dividends of 30 trillion won ($2.7 billion) to shareholders.

Stimuluspackage targets fallout of antigraft law

The governmentunveiled a stimulus package worth over 10 trillion won ($9 billion), whichincludes 6.3 trillion won on the top of 16.6 trillion won supplementary budgetto be used in the fourth quarter of this year, as an attempt to meet theeconomic growth-rate goal of 2.8 percent.

Samsungto acquire start-up by Siri creators

SamsungElectronics announced Thursday that it would acquire Viv Labs, an artificialintelligence start-up founded by the creators of Apple’s famed Siri.

LGChem breaks ground on first Europe plant

LG Chem,Korea’s top battery maker, is strengthening its foothold in the European marketwith a new factory in Wroclaw, Poland.

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TheKyungHyangShinmoon(http://english.khan.co.kr/)

[70th Anniversary of the Kyunghyang Shinmun]First Page: If We Can't Find a Way to Coexistence, We Will Face Co-Destruction,and We're Running out of Time

The South Korean society is lingering before thecrossroads of "coexistence" and "co-destruction." Thefuture of South Korea in ten, twenty years will depend on coexistence andco-prosperity, but today, we are faced with the question, "Do we have theability to solve the problem?" The South Korean society as a whole isbeing put to the test.

[Farmer Baek Nam-gi Dies] Opposition’s"Special Prosecutor" vs. Ruling Party’s "Autopsy," AStruggle for the First Permanent Special Prosecutor

On October 5, the Minjoo Party of Korea, the People'sParty and the Justice Party decided to seek a permanent special prosecutor toidentify the truth in the case of the late farmer Baek Nam-gi. If they bring ina special prosecutor, this will be the first introduction of a permanentspecial prosecutor, which was first agreed on between the ruling and oppositionparties in June 2014.

Recovered Only 16% of the 30 Trillion WonInvested in Resources Development Since the Lee Myung-bak Government

South Korea invested over 30 trillion won on projects todevelop resources overseas since 2008. More than 90% of that money was fundedthrough debt and the government was only successful in recovering 16% of theinitial investment.

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

IsElliott's Second Attack on Samsung Blessing in Disguise?

As activisthedge fund Elliott Management demanded Samsung Electronics to create a holdingcompany and split it into holding and operating units, its stock price hit arecord-high level of 1.7 million won during the session on October 6. It wasbased on the judgment that Samsung may accelerate the long-anticipated reformon its governance structure with Elliott's demand as a momentum.

SamsungElectronics' 3Q Operating Profit Rises 5.6% to 7.8 Tril. Won despite Recall

SamsungElectronics has earned an operating profit of 7.8 trillion won in the thirdquarter. Despite the devastating Galaxy Note 7 recall scandal, the companyposted better-than-expected results thanks to the brisk sales ofsemiconductors.

Implicationsof LG Chem's Decision to Build EV Battery Plant in Poland

LG Chem'sestablishment of the electric car battery plant in Poland is considered a moveto solidify its No. 1 position in the world. That's because Europe is one ofthe world's most important EV market including North America and China. For LGChem, the European plant is something it definitely needs for future survival.According to Merrill Lynch, the largest EV market is China with a share of 51percent, followed by Europe's 22 percent and North America's 17 percent.

HyundaiMotor to Supply 3,500 Taxis to Singaporean Taxi Company

Hyundai Motorwill supply 3,500 i40 taxi cabs to Singapore's largest taxi company. With thisdeal, Hyundai will be able to keep its leading position in the city-state'staxi market for eight consecutive years until 2017. Hyundai Motor's head ofoverseas sales unit Chang Won-shin signed the deal on October 6 at theInterContinental Koex in Seoul's Gangnam with ComfortDelGro Corp.'s chairmanLim Jit Poh and president Kua Hong Pak.

AirSeoul Begins Flying to 10 International Destinations

Air Seoul, anupstart low-cost airline and a subsidiary of Asiana Airlines, has launched itsfirst-ever international flight route. The budget carrier said on October 7that it would fly the Incheon-Takamatsu line. The Japanese city is located incentral Kagawa Prefecture on the island of Shikoku.

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

[FOCUS]Samsung 'carefully' considers split proposed by US hedge fund

South Koreantech giant Samsung Electronics saw a 4.45 percent increase in its share priceThursday after the company promised to "carefully" consider a requestfrom US hedge fund Elliott Management to improve its corporate governance bysplitting into two separate entities.

Samsungflags 5.55 % rise in Q3 operating profit

SamsungElectronics flagged a 5.55 percent rise in its third-quarter operating profitFriday as gains in microchip and display sectors offset losses caused by aglobal recall of its flagship smartphone.

DoosanBobcat promises to boost sales in China and emerging markets

Doosan BobcatInc., a construction equipment maker of South Korea's Doosan Group, promisedThursday to expand its presence in China and emerging markets whilestrengthening its top position in the United States.

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

SamsungElec reports $7bn in Q3 OP, beats market expectations on chip rebound

SamsungElectronics Friday reported an operating profit of 7.8 trillion won ($7billion) in July-September period, down 4.18 percent from the previous quarterand up 5.55 percent from the year-ago period, after reflecting a global recallon premium Galaxy Note7 phone in September that is estimated to have cost thecompany around $1 billion.

Celltrionchooses TEVA as biosimilar distributor in N. America

South Korea’sCelltrion Healthcare Co. announced on Oct. 6 that it has chosen Israel-basedTEVA as a distributor for its biosimilars Truxima and Herzuma in North America.

SamsungElec to “carefully” review Elliot demands on demerger and Nasdaq listing

SamsungElectronics Co. said it will “carefully” review suggestions from itsshareholder and U.S. activist investor Elliot Management Corp. to restructureand simplify its operation by splitting up into separate holding and businessentities and later go public in the United States.

Samsungbuys Viv Labs to incorporate AI platform on devices

SamsungElectronics Co. on Thursday announced that it was buying Viv Labs Inc, openartificial intelligence platform that allows anyone to use and integratelanguage-based interface and applications.

LGChem starts building its fourth EV battery plant in Poland

South Korea`sbattery maker LG Chem Ltd. broke grounds to build a facility to manufactureelectric vehicle battery in Poland - its fourth - to achieve global annualcapacity to make battery cells that can power over 280,000 electric cars fromthe latter half of next year when it starts operation.

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