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The Korean daily media headlines and humorOctober 14, 2016

The Korean daily media headlines and humor

Friday, October 14, 2016

Your Excellency:

Here areThe Korea Postnoticesandaroundup 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

What’s ticking in Korea today?

Here is a quick roundup of important news stories from the major Korean news media today:

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

Coast Guard Demonstrates Fire Power in Yellow Sea

The Incheon Coast Guard has carried out a maritime live fire exercise near Seongap Island off the west coast to enhance its ability to respond to emergency situations.

Russel Warns N. Korean Nuclear Capability to Kill Leader Kim

Anchor: Amid North Korea's continuous pursuit of advancing its nuclear weapons program in defiance of international demands, U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel has warned that having the capability to launch a nuclear attack could mean the immediate death of leader Kim Jong-un. In some of his strongest words made against the regime yet, Russel argued that Pyongyang's nuclear program has only diminished the security of North Korea. Mina Cha has more.

10 Killed After Tourist Bus Catches Fire on Highway

A bus carrying a group of local tourists caught on fire after skidding against a guardrail on a highway near the southeastern port city of Ulsan, killing ten passengers aboard and injuring seven others.

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

Iron trade between N. Korea, China continuing despite U.N. sanctions

WASHINGTON, Oct. 13 (Yonhap) -- Iron trade between China and North Korea is continuing despite the latest U.N. Security Council sanctions resolution that bans such exchanges except for livelihood purposes, a U.S. expert said Thursday.

U.S. official warns N.K. leader of death if he attempts nuclear attack

WASHINGTON, Oct. 13 (Yonhap) -- The top U.S. official on East Asia has warned North Korean leader Kim Jong-un could face death if he attempts to use nuclear weapons, stressing the nuclear program undermines his security rather than strengthening it.

S. Korea's export prices down for 50th straight month in Sept.

SEOUL, Oct. 14 (Yonhap) -- South Korea's export prices fell for a 50th consecutive month in September due to declines in oil prices and demand for electric and electronic products, central bank data showed Friday.

USS Ronald Reagan Carrier Strike Group to make port call in Busan Sunday

SEOUL, Oct. 14 (Yonhap) -- The USS Ronald Reagan Carrier Strike Group (CSG) will make a port call at South Korea's No. 1 port after finishing a joint naval exercise with South Korean forces, U.S. Naval Forces Korea said Friday.

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

BOK cuts 2017 growth forecast to 2.8%

South Korea’s central bank cut its 2017 growth forecast to 2.8 percent from the July projection of 2.9 percent, citing bigger uncertainty in the global economy and risks from ongoing corporate restructuring here.

Bob Dylan wins Nobel Literature Prize

American singer-songwriter Bob Dylan won the 2016 Nobel Prize in literature on Thursday, a stunning announcement that for the first time bestowed the prestigious award on a musician.

Advisory body calls for US tactical nukes as it meets with Park

President Park Geun-hye’s advisory panel on unification policy has proposed a reintroduction of US tactical nuclear weapons and the constant stationing of other advanced strategic assets on the peninsula as deterrence against North Korea’s evolving threats.

Survival reality show asks, ‘democracy or dictatorship?’

Soon-to-air reality program “Society Game” observes contestants divided into two “societies” -- one a democracy, the other a dictatorship -- as they compete in a physically and psychologically draining fight for survival.

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

10 dead in tour bus fire

Ten people died inside a tour bus that caught fire on a highway near the southeastern city of Ulsan on Thursday night.

Collegians respect firefighters most, politicians least

College students have selected firefighters as people who do the most important work but are least appreciated. The collegians also picked firemen as the profession they respect most.

Korea Sale Festa benefits duty free shops

Korea Sale Festa, the government-initiated nationwide sales event, has succeeded in boosting the sales of retailers. Among them, duty free shops turned out to be the biggest beneficiaries.

[My Seoul Story] Hiking shows Seoul's beautiful contrast

Three years ago, while visiting Seoul as a fresh graduate from medical school, I discovered my love for hiking. Having spent the first 20 years of my life in Midwestern America, surrounded by hundreds of miles of cornfields and grassy plains, Seoul's undulating, mountainous terrain was a source of inspiration.

Korean violin prodigy dies of heart attack in taxi

Famous Korean violinist Kwun Hyuk-joo died of a heart attack in a taxi early Wednesday, on his way to a Busan hotel just hours before a recital.

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

Pres. Park vows to open all paths for N.K. defectors to S. Korea

President Park Geun-hye on Thursday criticized some South Koreans for avoiding efforts to improve the human rights situation for North Korean residents for fear of the North Korean regime’s backlash and expressing concerns over accepting an increasing number of North Korean defectors to the South.

U.S. hedge fund Elliott expresses confidence in Samsung

U.S. hedge fund Elliott Management expressed confidence in South Korea’s embattled Samsung Electronics on Wednesday local time despite South Korean electronics giant’s decision to discontinue its fire-prone Galaxy Note7 smartphone.

Trump’s advisor says N. Korea should cease to exist

Michael Flynn, former director of the Defense Intelligence Agency and current national security adviser to Donald Trump, said, “We should not let the current North Korea regime (which make repeated nuclear and missile provocations) exist for a long time.”

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

Earthquake, Typhoon Hit Tourism to Historic Gyeongju

The tourism industry in the historic city of Gyeongju in North Gyeongsang Province has taken a knock after the earthquake last month compounded by damage from typhoon Chaba.

N.Korea Reshuffles Diplomats in Europe

North Korea has been reshuffling chiefs of its diplomatic missions in Europe after the defection of the No. 2 man in the London Embassy in July.

Fresh Woes for Hyundai Crisis as Exports Plunge by Half

Hyundai's exports have fallen 50 percent so far this month amid protracted strikes that are holding up deliveries.

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

On the defensive, Samsung seeking to replace Note 7 with S7 series phones

Samsung Electronics’s defensive strategy is drawing attention after the company took a major hit to its business performance with the defect controversy and discontinuation of the Galaxy Note 7 smartphone.

Illegal fishing leading to head-on clash between South Korea and China

An Oct. 7 incident in which a Chinese fishing boat deliberately rammed and sank a South Korean Coast Guard high-speed vessel is showing signs of escalating into a head-on collision between the two governments.

Analyst says US shouldn’t “roll the dice” on removing troops from South Korea

Donald Trump’s pledge to remove American troops from South Korea is very dangerous and could lead to war on the Korean Peninsula, one American analyst has said.

Both Trump and Clinton say that with North Korea, all options are on the table

The campaigns of both Hillary Clinton and Donald Trump have declared that they are not ruling out any options in their North Korean policy, including a preemptive strike. But these remarks do not mean that either candidate is seriously considering such an attack, experts say.

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

Three Koreans found dead in Philippine field

Three Koreans were found dead in a sugarcane field in the rural town of Bacolor, 75 kilometers (47 miles) northwest of Manila, with gunshot wounds to their heads, the Ministry of Foreign Affairs said Thursday.

BOK slashes its 2017 growth forecast to 2.8%

The Bank of Korea (BOK) shaved its 2017 growth forecast to 2.8 percent from 2.9 percent while holding this year’s at 2.7 percent. It also froze the benchmark interest rate during a monetary policy meeting on Thursday.

Bring back U.S. nukes, says Blue House report

A presidential advisory group on unification policy recommended the Park Geun-hye administration on Thursday bring back U.S. tactical nuclear weapons in order to stop North Korea’s continuing nuclear arms development.

Cellphones drag down ICT exports by 8.5%

Exports of information and communications technology (ICT) fell for the 12th consecutive month as cellphones and televisions remained weak in foreign markets.

Spouses cheat on salaries

A 41-year-old engineer in Gangseo, southwestern Seoul, purchased two studio apartments in recent years - but didn’t tell his wife. He’s never actually told her how much he earns.

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

[Editorial] South Korea and China Need to Make a Calm Response to the Illegal Fishing Problem

The Chinese government's attitude on the sinking of a high-speed patrol boat of the South Korean Coast Guard, which occurred after a Chinese fishing boat intentionally crashed into the boat in the Yellow Sea on October 7, is very disappointing. In a regular press briefing on October 12, the Chinese foreign ministry spokesperson Geng Shuang said, "South Korea stated that it would not spare the use of physical force in law enforcement, but they should not abuse their power to execute the law."

Will Jay Y. Lee Show Leadership in Overcoming the Crisis?

The effects of Samsung Electronics' decision to discontinue the Galaxy Note 7 just two months after its release are now surfacing. The third quarter operating profit has decreased nearly 30% from initial estimates. The morale of Samsung employees has also dropped significantly.

[Galaxy Note 7 Discontinued] Extinguishing the "Flames" from a Series of Explosions: Painful Scar on Samsung's Brand Image

The decision to discontinue the Galaxy Note 7, armed with advanced technology, is seen as a desperate measure to block further damage from the series of explosions that occurred at home and abroad.

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

BOK Still Optimistic about Economy to Grow 2.7% This Year

The economic growth forecast of 2.8 percent for the next year announced by the Bank of Korea on October 13 is higher than that made by private-sector think tanks such as the Korea Economic Research Institute (2.2%).

Hanjin Shipping Contacted Maersk for Possible Acquisition

The court has approved Hanjin Shipping to sell off its sales network in North America and Asia in a whole package. It was reported that Hanjin recently contacted Maersk Line, the world's largest container shipping company, to take part in the bidding for the deal.

POSCO ICT to Build EV Recharging Stations in Costa Rica

POSCO ICT is set to establish an electric vehicle recharging infrastructure in Latin America beginning with Costa Rica.

McKinsey Says "DSME Has Little Chances for Survival"

McKinsey that conducted consulting on the restructuring of the Korean shipbuilding industry is known to have concluded on October 12 that chances are low for Daewoo Shipbuilding & Marine Engineering (DSME) to stand on its own foot again.

"Train to Busan" Hit the Jackpot Overseas

The Korean zombie movie titled "Train to Busan" is rewriting history of the Korean film industry, enjoying record-high popularity among Korean movies not only in Southeast Asian countries such as Thailand, the Philippines, and Indonesia, but in Australia and France.

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

Samsung Electronics embarks on costly refund program

Samsung Electronics embarked on a costly refund program Thursday as a US hedge fund made a friendly gesture suggesting the world's largest smartphone maker could use its smartphone debacle for a chance to improve corporate governance.

Court kickstarts process of selling Hanjin Shipping assets

A court Friday kickstarted the process of selling assets from South Korea's troubled container carrier Hanjin Shipping which has been put under court receivership to avoid bankruptcy.

Foreign cruise ship passengers allowed to visit South Korea without visa

Chinese and other foreign tourists need no visa when they use designated cruise ships to visit South Korea under a six-month pilot project that began this week to boost the country's tourism industry.

Ten passengers burned to death in expressaway traffic accident

Ten South Korean passengers returning from a trip to China were burned to death in a blaze that gutted a tourist bus in an expressway traffic accident near the southeastern city of Ulsan, police said Friday.

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

Galaxy Note7 officially pulls out, likely hurt Samsung Elec OP by $5.7Bn until Q1 ‘17

Samsung Electronics Co. made it official to discontinue the controversial Galaxy Note7 with propensity to overheating and explosion and estimated losses from the pullout of its latest flagship smartphone to extend to the first quarter of next year in the scale of 3.5 trillion won ($3 billion) on top of 2.94 trillion won reflected in the third quarter.

Note7 can become lucky ticket for Samsung Elec and consumers: Roland Berger CEO

The latest face-losing and costly disaster with Galaxy Note7 could end up strengthening Samsung Electronics and its relationship with customers depending on follow-up actions to regain trust from the market, said Charles-?douard Bou?e, chief executive officer (CEO) of Roland Berger Strategy Consultants.

China’s property bubble would be the first to pop: Zhiwu Chen

The latest real estate market boom in China hints that a property bubble may burst any time soon in China, posing a threat to the world’s second largest economy that is also expected to slow down below 6 percent, warned Zhiwu Chen, renowned economist and finance professor at Yale University, the U.S.

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