The Korean daily media headlines and humor
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The Korean daily media headlines and humor
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October 20, 2016

TheKorean daily media headlines and humor

Thursday, October 20, 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, US Agree to LaunchExtended-Deterrence Dialogue

Anchor: South Korea and the United States have agreed toestablish a consultative body to discuss how to effectively put to use theU.S.' "extended deterrence" commitment for its Asian ally againstNorth Korea's threats. The agreement was made during the biennial"two-plus-two" security talks in Washington on Wednesday. The two sideson Thursday are set to discuss the extended deterrence further in detail at theannual Security Consultative Meeting.

Prosecutors Indict Five Lotte FamilyMembers For Corruption

Prosecutors have wrapped up their probe into allegedcorruption and irregularities at Lotte Group after indicting founder ShinKyuk-ho and four other family members without detention.

Ewha Womans University President ChoiSteps down

Ewha Womans University President Choi Kyung-hee steppeddown on Wednesday amid suspicions the school offered preferential treatment tothe daughter of a close confidant of President Park Geun-hye.

Police Officer Shot Dead by AssailantArmed with Makeshift Guns

A South Korean police officer was shot dead after anassailant armed with makeshift guns opened fire as he tried to resist arrest onWednesday in the Gangbuk district in northeastern Seoul.

S. Korean Spy Chief Backs Veracity ofControversial Memoir

The chief of South Korea's National IntelligenceService(NIS) has backed the veracity of a controversial memoir by formerForeign Minister Song Min-soon, in which he recalls that the former RohMoo-hyun administration in 2007 checked with Pyongyang before deciding toabstain from a UN vote on a North Korean human rights resolution.

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

S.Korea, U.S. agree to launch high-level 'extended deterrence' dialogue

WASHINGTON,Oct. 19 (Yonhap) -- South Korea and the United States agreed Wednesday tolaunch a high-level dialogue to discuss how to carry out the U.S."extended deterrence" protection of the Asian ally from nuclear andmissile threats from North Korea.

SamsungHeavy chief says further job cuts possible if order target unmet

SEOUL, Oct. 19(Yonhap) -- The chief of Samsung Heavy Industries Co. said Wednesday thatfurther job cuts will be possible if the shipbuilder fails to meet this year'sorder target.

Kerrysays U.S. will do everything to defend S. Korea, Carter warns N. Korea to makeno mistake

WASHINGTON,Oct. 19 (Yonhap) -- U.S. Secretary of State John Kerry said Wednesday thereshould be no doubt the U.S. will do everything to defend South Korea whileDefense Secretary Ash Cater warned North Korea that any use of nuclear weaponswill be met with an "overwhelming" response.

Spychief backs former foreign minister memoirs on N.K. human rights vote

SEOUL, Oct. 19(Yonhap) -- South Korea's spy chief on Wednesday backed the contents of amemoir by a former foreign minister who claimed that Seoul consulted Pyongyangbefore abstaining from the U.N. resolution on North Korea's human rights inlate 2007.

Samsungrolls out industry's first 8GB mobile DRAM for smartphones

SEOUL, Oct. 20(Yonhap) -- Samsung Electronics Co. has rolled out the semiconductor industry'sfirst 8-gigabyte mobile DRAM package for smartphones, based on its advanced10-nanometer production technology, the company said Thursday.

Packagedkimchi market soars amid high cabbage prices

SEOUL, Oct. 20(Yonhap) -- South Korea's market for packaged kimchi has been growing sharplyin recent months as more consumers resort to them due to sky-high prices ofnapa cabbage, the pickled side dish's key ingredient, a market tracker saidThursday.

S.Korean shares open modestly higher

SEOUL, Oct. 20(Yonhap) -- South Korean shares started marginally higher Thursday followingovernight gains on Wall Street boosted by a pickup in oil prices.

Fun,food, daring events heat up Sunchang sauce festival

SUNCHANG,South Korea, Oct. 20 (Yonhap) -- "Jang," or traditional fermentedsoybean paste, is a classical condiment in everyday Korean meals. For ancientKoreans, however, jang was never just an ingredient.

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

S. Korea-US todiscuss NK nukes and missiles

South Korea’sforeign and defense ministers were set for biennial talks with their UScounterparts Wednesday, the main topic of which will be the allies’countermeasures on North Korea’s nuclear and missile threats and development oftheir alliance.

Galaxy debacleexposes Samsung dilemma

In the eyes ofDonald Woo, a retired businessman in Hong Kong, incidents of the Samsung GalaxyNote 7 catching fire and its subsequent departure seemed not just about atechnical error, or faulty batteries.

Prosecutorsindict five Lotte family members

South Koreanprosecutors concluded its four-month probe into irregularities at Lotte Groupon Wednesday, indicting group chairman Shin Dong-bin, four other family membersand company executives on charges of embezzlement, tax evasion and corporatemalpractice.

Concerns riseover declining exports

The latestcustoms data showed South Korea’s exports tumbled by 18.2 percent from a yearearlier in the first 10 days of October, making it almost certain that thismonth will post another sharp decline in outbound shipments.

USwarns 'overwhelming' response to any NKorea use of nukes

The UnitedStates warned Wednesday that any attack on American allies or use of nuclearweapons by North Korea would be met with an “overwhelming” US response as itsought to reassure close ally South Korea that the US has its back.

Ewhapresident quits amid scandals

The presidentof Ewha Womans University stepped down Tuesday amid snowballing allegations theschool offered preferential treatment to the daughter of President ParkGeun-hye’s close friend.

Samsungrolls out industry's first 8GB mobile DRAM for smartphones

SamsungElectronics Co. has rolled out the semiconductor industry's first 8-gigabytemobile DRAM package for smartphones, based on its advanced 10-nanometerproduction technology, the company said Thursday.

Korea,US agree to launch high-level 'extended deterrence' dialogue

South Koreaand the United States agreed Wednesday to launch a high-level dialogue todiscuss how to carry out the US "extended deterrence" protection ofthe Asian ally from nuclear and missile threats from North Korea.

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

Policemankilled in gunfight with criminal suspect

One policeman was shot dead Wednesday evening in agunfight with a sex offender in northeastern Seoul, police said.

Ewhapresident bows out

Ewha WomansUniversity President Choi Kyung-hee offered to step down Wednesday amid growingallegations that the school gave special treatment in admissions and grading tothe daughter of President Park Geun-hye's close confidante.

Foreignconsultants criticized for blowing hot and cold

Government andbusiness officials here rely much on advice from foreign consultants when theydecide which industries and companies to keep afloat and which to let go under.

Mandies after being trapped between subway doors

A man waskilled after being caught between subway safety doors and a train at GimpoInternational Airport Station in western Seoul, Wednesday.

Man dies after beingtrapped between subway doors A man was killed after being caughtbetween subway safety doors and a train at Gimpo International Airport Stationin western Seoul, Wednesday.

Would-be toy thieftrapped in machine

Firefightershave rescued a drunken woman who was trapped in a toy machine.

Trash can cat dumperscollared

Acouple in their late 20s who reported cat cruelty to an animal shelter haveturned out to be responsible for dumping the animal in a trash can.

Military officersprobed over alleged rape

TwoKorean military officers are being investigated for allegedly raping a femalecollege student last year before they were commissioned.

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DongA Ilbo (http://english.donga.com)

Seoul,Washington to discuss additional N. Korea sanctions, strengthen ‘extendeddeterrence’ South Korea's Foreign Minister Yun Byung-se andDefense Minister Han Min-koo will meet their U.S. counterparts at the U.S.State Department in Washington on Wednesday (local time) to discuss diplomaticand military measures to curb North Korea’s nuclear and missile threats.

Remainsof U.S. soldier from Korean War to return home in 65 years

The remains ofa U.S. soldier who died in the Korean War will be returned to his hometown ofNew York for the first time in 65 years. "The Times Herald-Record," alocal daily in New York, said on Monday that the remains that were kept at theU.N.

Ssangyongreports highest sales since 2002

SsangyongMotor Co. said Wednesday that its sales during the first nine months of thisyear reached the highest in 14 years due to robust sales of the Tivoli sportutility vehicle (SUV).

Newtechnology enables 1GB movie downloaded in 3 seconds

A technologythat allows large gigabyte data to be easily transmitted within a distance of10 centimeters has been developed. This means that 1GB movie can be transmittedin just three seconds by connecting a laptop and smartphone via cable.

Ms.Trump says her husband was egged on

AfterRepublican presidential nominee Donald Trump’s recorded conversation aboutsexually aggressive remarks went to public, Melania Trump issued a statement onOctober 7, saying it was not acceptable. Ms. Trump, who had been off-stage overthe last 10 days, came forward to defend her husband.

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Chosun Ilbo (http://english.chosun.com)

Customers Slow to Turn in Their Samsung Note7s

Many customers are slow to return their Galaxy Note 7smartphones to Samsung despite a spate of the phones catching fire.

China Cuts Dependence on Korean IT Parts

Korea's exports of IT parts are suffering as China movesto reduce dependence on foreign suppliers for key components.

Cigarettes Priced Out of Reach of Low-IncomeEarners

Smoking is becoming a pastime for the rich aftercigarette prices rose from W2,500 to W4,500 a pack last year (US$1=W1,124).

White House Defends THAAD Deployment inS.Korea

The White House on Monday defended the decision tostation a U.S. Terminal High-Altitude Area Defense battery in South Korea,citing North Korea's latest launch of medium-range ballistic missile and itsthreat to conduct another nuclear test.

Half of Seoul Cab Drivers Are Past Retirement

The advanced age of taxi drivers in Seoul has recentlybecome a hot issue after a number of them breathed their last behind the wheel.

Korea to Speed Up Missile Defense Plans

The government and ruling Saenuri Party agreed on Tuesdayto speed up the planned deployment of advanced weapons to respond to NorthKorea's growing nuclear and missile threats.

Seoul Slaps Down U.S. Idea of JapaneseFighter Jets in Korean Skies

Seoul batted away a proposal by the U.S. for fighter jetsfrom Japan, the U.S. and South Korea to fly in formation over South Korea inresponse to North Korea's nuclear tests, the Asahi Shimbun reported Tuesday.

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HanKyoReh Shinmoon (http://english.hani.co.kr)

Ina first, S. Korean appeals court finds conscientious objector not guilty

Ahead of aruling by South Korea’s Constitutional Court on the constitutionality ofprosecuting South Koreans who refuse to perform their mandatory militaryservice for reasons of conscience, an appeals court has found a conscientiousobjector not guilty for the first time in the country.

USasked S. Korea and Japan to fly in formation after North Korean nuclear test

When the USflew B-1B strategic bombers over South Korea to demonstrate its commitment to“extended deterrence” shortly after North Korea’s fifth nuclear test inSeptember, it made an unofficial proposal for military aircraft from SouthKorea, the US and Japan to fly in formation through South Korean airspace,Japanese media reported.

SouthKorea moves up schedule for three programs to counter N. Korean nukes

On Oct. 18,the South Korean government and the ruling Saenuri Party agreed to move forwardthe implementation of three programs aimed at countering North Korea’s nuclearthreat.

FormerMinister speaks out on ruling party using his memoir for attack

FormerMinister of Foreign Affairs Song Min-soon spoke out on Oct. 18 over the rulingSaenuri Party using his memoir “Glaciers Move” to attack former Minjoo Party ofKorea leader Moon Jae-in.

ParkJie-won says she’s “fully aware” what Park Geun-hye talked about in Pyongyang

People’s Partyfloor leader Park Jie-won said on Oct. 18 that he was “fully aware of what kindof conversations” then-opposition representative and current President ParkGeun-hye had with Kim Jong-il during a four-hour meeting in Pyongyang duringthe Roh Moo-hyun administration in 2002.

N.Korea deputy foreign minister to meet with Americans in Malaysia

North Koreandeputy foreign minister Han Song-ryol is reportedly headed to Malaysia for anunofficial meeting with former officials and academics from the US.

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JoongAng Ilbo (conservative) (http://koreajoongangdaily.joins.com/)

Ewhapresident forced to step down by protests

Ewha WomansUniversity President Choi Kyung-hee resigned Wednesday, an hour beforeprofessors gathered to demand her ouster over allegations that the universitygave special treatment to a granddaughter of President Park Geun-hye’s formermentor.

GalaxyNote7 owners take Samsung to court

SamsungElectronics faces class-action suits from owners of its exploding Galaxy Note7in Korea and the United States.

Lottefounder, two sons indicted for misdeeds

Prosecutors onWednesday indicted Lotte Group Chairman Shin Dong-bin and his father and olderbrother on various charges including embezzlement, tax evasion and business malpractice,putting an end to a four-month investigation that caught group insiders bysurprise for its far-reaching scale.

Governmentpledges to invest in engineering

The governmentannounced a set of measures Wednesday to boost the local engineering industryby expanding financial aid for companies engaged in research and development,especially with foreign firms and institutions.

Hanjinplans to cut its staff

HanjinShipping, essentially taking steps toward company liquidation, has proposed tolay off more than half of its white-collar workforce this year.

Banksbet on artificial intelligence services

A 38-year-oldsurnamed Kim used his lunch break to visit KEB Hana Bank recently forinvestment advice.

Newcooling-off period for loans

Borrowers cancancel loans within 14 days of the agreement without penalty or commissionsunder a revised lending system announced Wednesday.

Governmentextends help to older workers

As Korea’spopulation ages rapidly and the older generation has a harder time findingjobs, the government is seeking to improve their working conditions andopportunities.

Topconglomerates lose profit, competitive edge

Koreanconglomerates that have been the driving force behind economic growth have lostmomentum, according to a recent analysis.

LotteGroup gives back with social contribution activities

Lotte Groupcontinues to engage in social contribution activities for the local community.

Passengerdragged to death by subway

A 36-year-oldpassenger surnamed Kim was dragged and killed by a departing subway train online No. 5, after he got trapped between the platform door and the train atGimpo International Airport Station in Gangseo District, western Seoul, onWednesday at 7:18 a.m. He was attempting to get off the train. SeoulMetropolitan Rapid Transit (SMRT) said the specifics as to how he got stuck arenot yet known.

Incheonfollows Seoul and Busan to break 3-million mark

Incheon’spopulation hit 3,000,013 as of 1 p.m. on Wednesday, marking the first time in36 years that a Korean city’s population broke the 3-million mark, coming inthird after Seoul and Busan.

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

[Battleover Song Min-soon's Memoir] Park Jie-won, "I Am Well Aware of What WasSaid During the 4-Hour Conversation Between Park Geun-hye and Kim Jong-il"

On October 18,Park Jie-won (74), chairman of the People's Party's emergency committee said,"The Kim Dae-jung government was well aware of what was said between ParkGeun-hye, head of the Korea Coalition for the Future at the time, and KimJong-il during the four hours they met when she went to Pyongyang."

TheRuling Party and Cheong Wa Dae Are Still One: Reign of Terror by Ousting theOpposition President Park Geun-hye has maintained herinfluence over the ruling Saenuri Party, which some claim is unusual. She hasless than a year and a half left in office, and her approval ratings havefallen to the lowest since her inauguration due to a number of corruptionallegations.

[BakYong-chae's Column] Samsung Patriotism

The alarm shouldhave gone off louder back then. The decision to merge Samsung C&T and CheilIndustries was announced on May 26, 2015.

CheongWa Dae Silent on Choi Soon-sil Triggers Sparks on Political Ideology

Cheong Wa Daemade a statement on the memoir of Song Min-soon, minister of foreign affairsand trade at the time of the Roh Moo-hyun government, in which Song mentionedthat he asked North Korea's opinion before abstaining from the vote on a UNresolution on North Korean human rights in 2007.

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

HomeMortgage Loan Balance with Second-tier Lenders on the Rapid Rise

The balance ofmortgage loans provided by second-tier lenders including savings banks hasincreased by a large margin this year.

TorayAdvanced Materials Kicks off Construction of 4th Gumi Plant

Toray AdvancedMaterials Korea held a groundbreaking ceremony for a new carbon fiber materialplant in Gumi, North Gyeongsang Province.

"NoChinese Buyer Welcome"...Australian Deputy PM

Barnaby Joyce,Deputy Prime Minister of Australia, made it clear that his country won't allowthe Chinese corporate sector to keep snapping up Australian assets any more.

[MarketInsight] SEMA Invests $27 Mil. in European Infrastructure Fund

The KoreanScientists & Engineers Mutual Aid Association will invest 25 million euros(US$27.4 million) in a European infrastructure fund.

SamsungElectronics Vice Chairman Won't Attend Upcoming Shareholders Meeting

It wasreported that Lee Jae-yong, vice chairman of Samsung Electronics, won't attendthe extraordinary shareholders meeting scheduled on October 27.

"ChinaManufacturing 2025" Exerts Impact on Corporate Korea Already

China risk isweighing heavily on Corporate Korea. What threatens Korean corporations thatrely too much on Chinese demand is not just the current recession in theworld's second-largest economy.

TaekwangGroup to Expand Operations in Vietnam

TaekwangGroup, led by its chairman Park Yeon-cha, is set to expand its business inVietnam. Taekwang plans to build its third shoe plant in Can Tho in southernVietnam. Park’s dream of building a “shoe kingdom” in Vietnam is slowly comingtrue.

HyundaiMotor Aims to Sell 10 Mil. Cars in China until 2018

China overtookthe United States in 2009 as the world's largest car market. A flurry of globalcar makers such as Volkswagen and GM are vigorously expanding facilities tomeet the rising demand from China.

KeyReasons behind Foreign Companies' Interest in Acquiring Kumho Tire

Thecompetition to acquire Kumho Tire, the largest M&A deal among those slatedfor the second half of this year, will likely to be led by foreign companiessince a string of global tire makers are eager to take over Kumho as a way toestablish a stronger presence in the Korean and Chinese markets.

SamsungElectronics Opens up 8-GB Mobile DRAM Era

SamsungElectronics has opened an 8-gigabyte DRAM era in the mobile memory chip market.The company will likely mount the new chip on the Galaxy S8 and other latestsmartphone models to be launched by Android phone makers.

OilRefining and Chemical Stocks Rise on News of Higher Int'l Oil Prices

Oil refiningand chemical stocks were on the rise on the news of higher international oilprices. At 9:15 am on October 20, SK Innovation shares were traded at 163,000won, up 3.16 percent (5,000 won) from the previous day. GS Caltex saw its stockprice rise 1.15 percent (600 won) while S-Oil shares rise 1.58 percent (1,300won) to 83,800 won.

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

WooriBank Q3 net up 10 % on decreased loan-loss provisions: Yonhap

Woori Bank,South Korea's second-largest lender by assets, said Wednesday its net profitjumped 9.9 percent in the third quarter from a year earlier on decreasedloan-loss provisions.

Lotteselected as preferred bidder for Bobath Memorial Hospital

South Korea'sLotte Group said Wednesday that it has been selected as the preferred bidder tobuy a renowned medical care hospital using the name of a British couple whodevoted their life for patients.

Prosecutorsend probe into Lotte with indictment of ruling family

Prosecutorsindicted the founder of South Korea's fifth-largest conglomerate, Lotte Group,and his two sons Wednesday, wrapping up an extensive four-month probe.

Labor-managementdispute erupts over Hanjin Shipping's layoff plan

Alabor-management dispute has erupted over Hanjin Shipping's plan to reduce itsworkforce focusing on the South Korean shipper's route between Asia and theUnited States.

Vietnam'sstock exchange to adopt South Korean know-how: Yonhap

South Korea'sstock market operator said Wednesday it has signed a contract with itsVietnamese counterpart to set up the IT infrastructure for the Southeast Asiannation's equity trading.

S.Korea develops bone plate 3D printing tech using silkworm cocoon

A South Koreanstate research body claimed Wednesday to have developed a bone plate 3Dprinting system using protein extracted from silkworm cocoons as the plate'smain material.

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

S.Korean smaller shippers may form alliance to fill Hanjin Shipping’s void

The SouthKorean government is said to be reviewing a plan to form an alliance of small-and mid-size local shippers in a move to reinstate the country’s position inthe global shipping industry after the collapse of the national flag carryingcontainer shipper Hanjin Shipping Co.

SouthKorea prosecutors indict Lotte chairman along with other executives

South Koreanprosecutors have indicted Lotte Group’s five founding family members and keyexecutives, wrapping up their four month-long corruption probe into thecountry`s fifth-largest conglomerate.

MiraeAsset Global Investments’ Indian unit draws nearly $915 mn

The Indianoperation of South Korea’s Mirae Asset Global Investments Co. has drawn nearly61 billion rupees ($915 million) since 2006 when it first branched out to thecountry, thanks to growing investment by not only affluent young Indiancustomers but also low-income families backed by the country’s rapidlyexpanding economy.

Korea’sWoori Bank’s net income up 16% on year in Q3

South Korea’sstate-owned Woori Bank posted a net profit of 355.6 billion won ($316 million)on a consolidated basis in the third quarter ending September this year, up15.9 percent from the same period last year thanks to increased interest incomeand cut in bad loan costs.

LotteGroup selected as preferred buyer of Bobath hospital foundation

South Korea’sLotte Group said on Wednesday that it has been selected as the preferredcandidate to buy Neulproon Medical Foundation that runs Bobath MemorialHospital in Bundang, Gyeonggi. If the acquisition moves ahead as planned, theconglomerate is expected to become a new player in the medical businessindustry.

Shenzhen-HongKong connect may prompt MSCI inclusion: Hong Kong Exchange chief

CharlesXioajia Li, chief executive officer of Hong Kong Exchanges & Clearing Ltd.said that a market linkup between bourses in Shenzhen and Hong Kong will serveas a catalyst for opening of the Chinese capital markets to the global economyand increase the likelihood for Shanghai A-shares to be included in MorganStanley Capital International (MSCI) emerging markets index.

TorayAdvanced Materials breaks ground for carbon fiber plant in Korea

Toray AdvancedMaterials Korea, Inc. (TAK), an affiliate of Japan’s Toray Industries, Inc. onWednesday held a ground-breaking ceremony for Gumi Plant No.4 that will producehigh-tech materials such as carbon fibers.

Koreanprosecution to summon another Volkswagen headquarters executive

The SouthKorean prosecution will summon another key executive of Volkswagen headquartersin Germany for questioning over the German carmaker’s series of emission-relatedviolations of local rules.


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