The Korean daily media headlines and humor
Monday, December 26, 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
The Korea Post news
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/)
Choi, Ex-Aides Refuse Hearing at Detention Center
Choi Soon-sil and key former presidential officials have refused to sit in for a hearing as lawmakers are seeking to grill them at a detention center over the massive influence-peddling scandal.
Choi and President Park Geun-hye’s former aides An Chong-bum and Jeong Ho-seong on Sunday expressed their refusal to take part in a rare witness hearing planned at the Seoul Detention Center on Monday.
Outgoing UN Chief Denies Bribery Allegations
United Nations Secretary-General Ban Ki-moon has denied a local media report that he received 230-thousand U.S. dollars from Park Yeon-cha, a businessman who meddled influence during the Roh Moo-hyun government. The UN chief denied the allegations but the accusation is taking center stage of South Korea's political arena.
Kim Bum-soo has more.
Chicken at S. Gyeongsang Farm Tests Positive for AI
A case of avian influenza (AI) was confirmed at a farm in South Gyeongsang Province for the first time.
According to the provincial government on Sunday, chickens at a farm in Sangbyuk-myeon in Yangsan City tested positive for the H5 strain of AI.
Outgoing UN Chief Denies Bribery Allegations
United Nations Secretary-General Ban Ki-moon has denied a local media report that he received 230-thousand U.S. dollars from Park Yeon-cha, a businessman who meddled influence during the Roh Moo-hyun government. The UN chief denied the allegations but the accusation is taking center stage of South Korea's political arena.
Gov't to Lift Import Duties on Eggs, Probe Alleged Hoarding
The government is taking emergency steps to deal with an egg shortage linked to the outbreak of avian influenza.
Starting next month, the government will lift import tariffs on eggs and investigate allegations of egg hoarding by distributors and bakeries.
Public Sector Debt Tops 1 Quadrillion Won
The nation’s public sector debt topped one quadrillion won for the first time as of the end of last year.
The Ministry of Strategy and Finance unveiled Friday that debt owed by the government and nonfinancial state-owned enterprises at the end of last year amounted to a little over one quadrillion won, up four-point-eight percent from the previous year.
China's Aircraft Carrier to Conduct Drill in Western Pacific
China’s first aircraft carrier will carry out drills in the Western Pacific amid renewed tensions between the United States and China following U.S. President-elect Donald Trump’s telephone call with Taiwan's president.
Think Tank: N. Korea Might Have Miniaturized Nuke
A domestic institute says that North Korea is believed to have secured a technology to miniaturize nuclear warheads and load them onto its Scud and Nodong ballistic missiles.
The Institute for National Security Strategy under the National Intelligence Service on Sunday presented the assessment in its 2016 annual report.
'The Vegetarian' Picked Among 2016 Best Books
Korean author Han Gang’s “The Vegetarian,” which won the prestigious Man Booker International Prize, has been picked among the best books in 2016 listed by leading Unites States and British media outlets.
Park's Impeachment Among 2016 Top Int'l Stories of Japanese Media
The South Korean parliament’s passage of an impeachment motion against President Park Geun-hye and North Korea’s nuclear test were picked among 2016’s top ten international stories by Japan media outlets.
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Yonhap (http://english.yonhapnews.co.kr)
Ex-U.S. House Speaker Gingrich calls for bolstering nuclear capabilities
The United States should reinforce its weakened nuclear capabilities as China and Russia have been rebuilding their arsenals and North Korea has been trying to build a nuclear missile capable of reaching the continental U.S., former House Speaker Newt Gingrich said Sunday.
Independent counsel team raids home of former top presidential aide
Special prosecutors raided the home of a former top presidential aide Monday as part of their investigation into a corruption scandal surrounding President Park Geun-hye and her confidante.
The team visited the home of Kim Ki-choon, 77, who served as presidential chief of staff from 2013 to 2015.
Parliament seeks to question key figures in scandal at detention center
South Korean lawmakers plan to visit a detention center Monday to question key suspects in a scandal involving President Park Geun-hye, who have refused to attend a hearing at the National Assembly.
The special committee seeks to hold a hearing with Park's confidante Choi Soon-sil, who is in custody at a detention facility on the outskirts of Seoul, at 10:00 a.m. and Ahn Jong-beom, former senior presidential secretary for policy coordination, and Jeong Ho-seong, former secretary for private presidential affairs, later in the day.
Samsung keeps No. 1 spot in Russia's handset market
Samsung Electronics Co. maintained its No. 1 spot in the Russian handset market last month, an industry data showed Monday.
Samsung grabbed a 20.1 percent share of the Russian handset market in November, according to the data by global market researcher GfK Group.
Ruling party's separatists to leave Tuesday
A group of lawmakers are set to submit their resignation from the ruling Saenuri Party on Tuesday to establish a new conservative party.
Around 35 dissident legislators vowed last week to leave the party amid a factional feud with loyalists to President Park Geun-hye.
U.N. chief, bizman deny bribery allegations
Ban Ki-moon, the outgoing U.N. chief, on Sunday dismissed a news report that he took cash from a South Korean businessman in the 2000s at the center of a high-profile bribery scandal.
The Sisa Journal, a weekly magazine in Seoul, reported that Ban received around US$200,000 from Park Yeon-cha, a local businessman, while serving as South Korea's foreign minister.
N. Korea doubled coal exports ahead of UNSC resolution: KITA
North Korea doubled its coal exports to China just before the United Nations Security Council adopted tougher economic sanctions last month, a South Korean trade organization said Sunday.
The Korea International Trade Association (KITA) said that North Korea's overall exports to China jumped 34.1 percent on-year to US$256 million in November.
Cambodia, Laos rejects N.K. FM's offer to make official visit: report
Cambodia and Laos rejected North Korean Foreign Minister Ri Yong-ho's proposal to make an official visit to the countries in July in a sign of Pyongyang's increasing isolation due to its nuclear and missile provocations, a news report said Friday.
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The Korea Herald (http://www.koreaherald.com)
With eased listing rules, Kosdaq aims to attract 10 new foreign firms in 2017
South Korea’s tech-laden stock trading board will curtail regulatory barriers for overseas businesses next year, with the goal of listing at least 10 foreign firms deemed to have growth potential.
By opening its door to fledgling foreign firms that are still unprofitable but have promising technologies, staring January, the Kosdaq market will try to attract a variety of overseas businesses, with the aim of becoming a global capital market for tech firms.
Parties rush to capitalize on Ban‘s presidential bid
With the United Nations’ Secretary-General Ban Ki-moon eyeing a return to his home country with a potential bid for next year’s presidential election, rival parties are scrambling to capitalize the situation in their favor amid political turmoil over President Park Geun-hye’s corruption scandal.
Korean drugs to make inroads into US market in 2017
A number of South Korean biopharmaceutical products will make their full-fledged debuts in the US next year, with the aim of taking a share of the world’s largest market for pharmaceutical and health care goods.
Runoff separates presidential aspirants
Facing the likelihood of an earlier-than-planned presidential election next year, presidential aspirants -- particularly those of opposition circles -- are now going all-out to gain an upper hand in the race.Embracing the public’s dissent over the power monopolization shown in the high-profile corruption scandal involving President Park Geun-hye and her top aides, the opposition figures all advocate the decentralization and readjustment of the current presidential system.
Special prosecutor mulls raid on presidential office
A team of South Korean special prosecutors may soon raid Cheong Wa Dae, the country's presidential office, in an ongoing probe into a corruption scandal involving President Park Geun-hye, an official said Sunday.
Challenges, opportunities for Korea’s ODA in 2017
Next year’s presidential election in Korea, growing global political and economic uncertainties and fresh waves of nationalism in the West are set to come together to pose both challenges and opportunities to Seoul’s efforts to help fight poverty in the developing world.
Japan’s race to revolutionary future in 2020
The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the fourth installment.
3 in 10 cars sold by Hyundai, Kia are RVs
More than three out of every 10 vehicles sold by Hyundai Motor Group this year in South Korea were recreational vehicles, auto sales figures showed Sunday.
Hyundai Motor and Kia Motors sold 1.07 million cars here in the first 11 months of the year, among which 343,273 units, or 32 percent of total sales, were RVs.
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The Korea Times (http://www.koreatimes.co.kr)
Did Ban Ki-moon take bribes from scandal-ridden tycoon?
Outgoing U.N. Secretary-General Ban Ki-moon, a leading presidential hopeful, allegedly received bribes worth $230,000 (280 million won) from Park Yeon-cha, an entrepreneur who was at the center of a bribery scandal involving former President Roh Moo-hyun and his aides, according to media reports.
Korea's No.1 portal leaves loopholes unplugged for state censorship
NHN Corp., the operator of South Korea's dominant Internet portal, has come under close scrutiny after it was found to have a rule to remove real-time search words if the government asks the portal to do so.
The rule is expected to stir up controversy over whether Naver could allow the government to censor the Internet portal, although Naver claimed that it has not implemented the rule.
British singer George Michael dead at age 53
George Michael, who rocketed to stardom with WHAM! and went on to enjoy a long and celebrated solo career lined with controversies, has died, his publicist said Sunday (on Christmas). He was 53.
Michael enjoyed immense popularity early in his career as a teenybopper idol, delivering a series of hits such as ''Wake Me Up Before You Go-Go,'' ''Young Guns (Go For It),'' ''Freedom'' and "Last Christmas"
Independent counsel team raids home of former top presidential aide
Special prosecutors raided the home of a former top presidential aide Monday as part of their investigation into a corruption scandal surrounding President Park Geun-hye and her confidante.
The team visited the home of Kim Ki-choon, 77, who served as presidential chief of staff from 2013 to 2015.
Ruling party's separatists to leave Tuesday
A group of lawmakers are set to submit their resignation from the ruling Saenuri Party on Tuesday to establish a new conservative party.
Around 35 dissident legislators vowed last week to leave the party amid a factional feud with loyalists to President Park Geun-hye.
Another Korean kidnapped in Philippines
A Korean man was kidnapped in the Philippines in October, a report said on Saturday. It is unclear why the kidnapping was not revealed earlier.
Citing diplomatic sources, Yonhap News Agency reported that a group of unidentified men kidnapped the businessman, in his 50s, near his home in Angeles.
Psy speaks about alleged links with Choi Soon-sil
K-pop star Psy spoke out on Friday about rumors of him being linked with Choi Soon-sil, the central figure of the corruption scandal engulfing President Park Geun-hye.
He denied allegations that Choi helped him get invitations to high-profile events involving President Park at home and abroad and that he also received other favors.
Exciting lantern experience at Cheonggye Stream
My happiest memory in Seoul was when I went to Cheonggye Stream to watch the Seoul Lantern Festival in November last year.
I arrived at the venue and spotted a long line going to the stream, but I was not worried at all as I saw a lot of ushers, who were very polite and friendly as they guided me and the rest of the crowd.
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Dong-AIlbo (http://english.donga.com)
Trump goes one step further and says 'Let it be an arms race'
U.S. President-elect Donald Trump precisely stated that he meant “a nuclear arms race“ when he was asked clarify his comments on twitter, “The United States must greatly strengthen and expand its nuclear capability.” His answer is now creating a controversy now.
U.S. ambassador: ‘No worry about S. Korea-U.S. alliance in Trump era’
U.S. Ambassador to South Korea Mark Lippert singled out "I was doing well thanks to you" as his favorite words that he can speak in Korean. Lippert made the comment in an interview with Channel A’s "News Roundup" program on Dec. 20, his first media interview since the U.S. presidential election (November 8). “I am very grateful to the Korean people for support and help,” the U.S. envoy said. He also said he can confidently speak in Korean, “Hamkke Gapsida (Let’s go together).”
Trump tees off with Tiger Woods
U.S. President-elect Donald Trump who will take office next January is a great golfer. During his Wharton School years at Pennsylvania University when he first started playing golf, Trump’s official handicap was 2.8. This means that he scores around mid-70s in average. Famous as a “golf maniac,” he could not get his hands on the golf clubs since last June when he vied for the presidential elections.
Actor's Kang Seok-woo's 'bravo my life'
“I cannot believe three decades have passed already…. I can still vividly remember the time I waited anxiously at a café in front of Myeongbo Theater on the first screening day. As thirty years have passed, and I thought I was ‘fading away’ from the public, but everything is so real again after thirty years. You never know what will happen next.”
Asiana Airlines introduces six A380 superjumbo jets
Asiana Airlines has completed introduction of six A380 superjumbo jets dubbed "flying hotel," and is ready for competition for long-distance flight service.
“We held a ceremony to commemorate the introduction of A380 No. 6 at the main tarmac at Incheon International Airport on Friday afternoon,” Asiana Airlines said on Sunday.
Number of patients with infectious diseases surpasses 100,000
It has been confirmed Sunday the number of patients suffering from one of 56 infectious diseases that are under the government’s mandatory surveillance (excluding tuberculosis and AIDS) has surpassed 100,000 for the first time this year and schools and child care centers are on the alert over the diseases.
Netizen investigators start to make comments on fake articles
As the presidential election is set to be held next year, signs of spreading of fake news in political circles are picking up already. Fake news articles have been quoted and stirred up some controversy, and comments of a politician are being distorted and turned into a malicious or false report.
Ruling party, government seek February extra budget
The government and the ruling Saenuri Party have decided to seek an extra budget by February next year. If an extra budget is created, it will be the first "February extra budget" in 19 years since 1998, when Korea experienced the Asian Financial crisis.
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Chosun-Ilbo (http://english.chosun.com)
Won Slumps to W1,200 to the Dollar
The won slumped to below W1,200 level against the U.S. dollar on Friday for the first time in around nine months. The won closed at W1,203, down W3.9 from the previous day's close.
The slump is attributed to jitters over U.S. president-elect Donald Trump's victory and a rate hike in mid-December by the Federal Reserve, which prompted investors to sell won for safe-haven dollars.
Births Slump to Record Low
October saw the fewest babies born in Korean history as many young people decide to remain unmarried or have no children.
Only 31,600 babies were born, down 13.9 percent from October last year, according to Statistics Korea on Thursday. It was the smallest number since statistics began in 2000.
Younger People Buy Themselves Christmas Presents
A growing number of people are giving presents to themselves this Christmas.
SK Planet asked 500 people in their 20s and 30s who they are going to give a present to, and more than 60 percent said themselves. Only 34 percent said they want to give presents to their boyfriends, girlfriends or parents.
Most Separated Families Want Better Ties with N.Korea
Eight out of 10 South Korean families who were separated from relatives in North Korea by the Korean War want more civilian exchanges between the two sides, a survey shows.
In the survey published by the Unification Ministry on Thursday, 77 percent of respondents said they want civilian exchanges.
Taurus Missiles Ready for Warfare
The Air Force has started loading long-range Taurus missiles on fighter jets and showed the new German weapons off at an air base in Daegu on Thursday.
Carried by F-15K fighter jets, the bunker buster missiles have a range of 500 km and are capable of striking any target in North Korea from skies over Daejeon.
Constitutional Court Narrows Scope of Impeachment Case
The Constitutional Court in a preliminary hearing Thursday decided to limit the scope of proceedings as it weighs the impeachment bill against President Park Geun-hye. "We narrowed the reasons cited for impeachment in order to expedite a ruling," a court official said.
Park Won-soon Becomes Seoul's Longest-Serving Elected Mayor
Park Won-soon on Thursday became the longest-serving elected Seoul mayor in the city's short democratic history.
First elected on Oct. 26, 2011, the progressive lawyer-turned-activist was re-elected in 2014 and has now served for 1,884 days. The previous incumbent, conservative Oh Se-hoon, served 1,883 days.
Korea Selects Seowon and Coastal Tidal Flats as World Heritage List Candidates for 2018
Korea has chosen the sites it'll submit as candidates for UNESCO's world heritage lists for 2018.
Those are the Confucian academies of Korea's Joseon Dynasty -- known as Seowon -- and the tidal flats along the nation's southwestern coast.
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HanKyoReh-Shinmoon (http://english.hani.co.kr)
Four new books peel away the fake legend of Park Geun-hye
New works offer analyses on how Park managed to turn the state into her own private property
Everyone is curious about Park Geun-hye. The more is revealed about the Choi Sun-sil government interference scandal, the more people’s perceptions of Park go back and forth between “puppet,” “princess,” and “dictator.” They’ve only seen what they wanted to from her.
Constitutional Court plans to speed up main review of Park’s impeachment in the new year
Park’s team will need to account for her whereabouts for seven hours on day of Sewol sinking
The Constitutional Court plans to finish preparatory procedures for President Park Geun-hye’s impeachment hearing within the year and begin its main review of the grounds in 2017.
Park says “she has nothing to hide” about day of Sewol sinking
As ferry sank, Park allegedly had her hair done by her personal stylist; she will submit a detailed breakdown of her activities
After the Constitutional Court asked President Park Geun-hye to answer the allegations that have been raised about what she did during the seven hours after the Sewol ferry sank and until she appeared in public 5 pm, Park agreed to submit an explanatory statement and related documents to the court.
Pres. Park’s customized vanity mirror revealed
Sources said no object but the Park could be reflected in the mirror, and the lights all needed to be specific size and brightness
A customized vanity mirror President Park Geun-hye insisted on having with her on all overseas trips has been revealed thanks to a tipoff.
For visit, special bathroom built for Pres. Park, then torn down two days later
While on official trips, Park has a reputation for making bizarre requests about bathrooms, mattresses and microwaves
Sources say that a private bathroom (including new plumbing) was built for President Park Geun-hye at an event that she was supposed to visit for about half an hour -- and that the bathroom was torn down two days later. This apparently happened at the Busan Exhibition and Convention Center (BEXCO), the site of Park’s summit with the leaders of the 10 ASEAN countries between Dec. 11 and Dec. 12, 2014.
S. Korean companies facing double whammy of shrinking export market and trade disputes
Seeking economic recovery, countries around the world are adopting a 21st-century version of “beggar-thy-neighbor” trade policies
With countries around the world taking steps to restrict the imports of South Korean products by imposing anti-dumping duties and setting up non-tariff barriers to trade, commercial conflicts and disputes are spreading and intensifying.
Ninth nationwide rally to go ahead with Christmas Eve song and cheer
Youth and civic groups planning a wide range of performances calling for Park to immediately resign, and for a new South Korea
The ninth candlelight rally, which will be taking place on Christmas Eve, is expected to be full of yuletide cheer.
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JoongAng-Ilbo(conservative) (http://koreajoongangdaily.joins.com/)
All protesters wanted for Christmas is impeachment
Christmas Eve did not stop hundreds of thousands of people from taking to the streets to demand President Park Geun-hye step down or, failing that, that the Constitutional Court deliver swift judgment on Park’s impeachment and remove her.
BOK digs into state of most vulnerable firms
The financial vulnerability of underperforming companies has worsened over the past five years, according to a study by the Bank of Korea released Sunday.
Although Korea Inc. has been undergoing corporate restructuring to lower the risk of struggling businesses with overwhelming debt, the potential remains of businesses defaulting amid a difficult climate, including a glum economic outlook and interest rate hikes.
Minjoo demands probe into Ban bribe allegations
Seeing an opportunity to tarnish its potential competitor, the opposition Minjoo Party of Korea demanded prosecution look into an allegation that UN Secretary General Ban Ki-moon had taken bribes worth $230,000 from a local businessman, signaling its offensive posture against the outgoing UN chief with an approaching presidential race.
Third most favored party doesn’t even exist yet
A party that hasn’t even been formed yet by defectors from the ruling Saenuri Party took third place in approval ratings, indicating its potential as a formidable group as a presidential election approaches in 2017. The party in the making, tentatively called the New Conservative Party for Reform (NCPF), received 12.4 percent approval in a poll conducted by the JoongAng Ilbo on Thursday and Friday, surpassing the People’s Party, which earned 10.1 percent, and closely trailing the Saenuri Party by 3.6 percent.
Maersk Asia chief dismisses HMM concerns
Hyundai Merchant Marine tiptoed aboard the world’s largest shipping alliance, 2M, led by Denmark’s Maersk Line, but it was not enough to wipe out concerns about the shipper’s survival and whether it could take over the business of Hanjin Shipping, the world’s seventh largest container shipper before it sought receivership.
Kumho Tire collects funds for breast cancer
Kumho Tire, along with the Korea Breast Cancer Foundation (KBCF), presented the funds collected for the Pink Ribbon Campaign at a delivery ceremony held on Dec. 22 at the Kumho Asiana headquarters.
Storeowners hit by anti-graft act
Kim Ji-eun, a 40 year-old Gangnam resident, bought a 39-square-meter commercial space on the ground floor of a building in Nonhyun-dong, southern Seoul, two years ago with a loan from a bank.
Tobacco packages must feature visual warnings
Lee Sung-pyo, a 30-year-old office worker, visited a duty-free shop during his travels to Macau in September. A heavy smoker, he has a habit of buying cigarettes in cartons every time he visits duty-free shops, where the price is much lower. Upon picking up the product, he was shocked to see a large photo of a decomposed foot printed on the box.
Naver’s rule suspected of leading to censorship
NHN Corp., the operator of Korea’s dominant Internet portal, has come under scrutiny after it was found to have a rule to remove real-time search words if the government asked the portal to do so.
The rule is expected to stir controversy over whether Naver could allow the government to censor the Internet portal, although Naver claimed that it has not implemented the rule.
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The KyungHyang-Shinmoon(http://english.khan.co.kr/)
Constitutional Court Expected to Focus on "Constitutional Violations," Easier to Judge Than Legal Violations
On December 22, the Constitutional Court reorganized the nine reasons for the impeachment of President Park Geun-hye submitted by the lawmakers into five. This seems to display the court‘s determination to review the impeachment proposal in a speedy manner.
Woo Insists, “I Don‘t Know” “I Never Did That” on His First Public Appearance in 46 Days
Former Cheong Wa Dae Senior Secretary for Civil Affairs Woo Byung-woo (49) appeared at the parliamentary hearing on December 22 and denied all allegations of his involvement in Choi Soon-sil’s intervention in state affairs. He endlessly repeated the words, “I don‘t know,” and “I never did that,” on his relationship with the “secret heavyweight” Choi Soon-sil, his assistance in Choi’s intervention in state affairs, and his attempt to conceal the matter.
Conservative Ruling Party Divided: Big Bang! A 4-Party Presidential Race
Thirty-three lawmakers, non-Park members of the Saenuri Party, decided to collectively leave the party on December 27. The first ever division of a conservative party will soon become reality.
If the non-Park lawmakers leave the party and found a new political party, the political circle will be reorganized into a four-party system뾲he Minjoo Party of Korea, the Saenuri Party, the People's Party and the new party of non-Park members.
A Shameless President Who Denied All Grounds for Impeachment with an Absurd Argument
The response that President Park Geun-hye submitted to the Constitutional Court in connection to her impeachment was released. The president‘s argument against the impeachment is simply absurd. In short, none of the constitutional and legal violations are true and the president knew absolutely nothing about the corruption carried out by Choi Soon-sil.
“The Company Owned by the Father of Chung Yoo-ra‘s Friend Supplied Parts to Hyundai Motors. It Was a Way to Support SMEs”
President Park Geun-hye referred to the grounds of the National Assembly’s impeachment as “allegations” in her response to the impeachment case, which she submitted to the Constitutional Court. Yet, she failed to present a specific explanation to convince the people about her leaking of confidential Cheong Wa Dae documents and the forced donations for the MI-R Foundation and the K-Sports Foundation.
Special Prosecutor Focuses on Possible Government Involvement in NPS's Support of Samsung Merger
The investigation team led by independent prosecutor Park Young-soo, which is overseeing the investigation of the "Park Geun-hye, Choi Soon-sil scandal," searched the National Pension Service (NPS) and the Ministry of Health and Welfare on December 21 for proof of the alleged bribery by Lee Jae-yong (48), vice chairman of Samsung Electronics.
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The Korea Economic Daily (http://english.hankyung.com/)
Won-Dollar Exchange Rate May Shoot up to 1,300 Won Next Year
Amid a situation in which the dollar's value is rising at a rapid pace after the U.S. Fed's rate hike, analysts said the won-dollar exchange rate may shoot up to 1,300 won per dollar by the second quarter of next year from about 1,200 won now. Even if the depreciating won is an opportunity for exporters like those in automobiles, electronics, and ships, it is bad news for air carriers like Korean Airlines and Asiana Airlines.
Young Entrepreneurs Break into World Market despite Harsh Environment
"Coohua" ("Cashslide" in Korean service name), a smartphone screen lock app developed by the nation's tech start-up NBT in 2014, has taken China by storm. The number of downloads for the app has surpassed 100 million in China alone. Although so many local firms came up with their own versions of the app, none broke the wall put up by NBT.
Ratio of Japanese Who Are Favorable to Korea Rises by 5%p to 38%...Survey
A recent survey revealed that the number of Japanese people who feel affinity to Koreans has increased, but still 60 percent of respondents said they don't feel particularly well about the people in their neighborhood in the west. According to the Yomiuri Shimbun and other Japanese media outlets on December 25 based on a questionnaire conducted by the Japanese Cabinet Office, 38.1 percent of people who responded to the survey said they feel good about Korean people.
Korea EximBank Offers $100 Mil. Loan for Panama Power Generation PF Deal
Korea EximBank announced on December 22 that it offered a US$100-million project financing loan for POSCO Construction's Panama power generation project.
For overseas project financing deals, this is the first time for Korea EximBank to provide a loan indirectly through a local bank. The state-run bank has thus far provided direct financing for overseas PF projects.
Securities Firms Jump into Rental Housing Business
An increasing number of Korea's securities firms are jumping into the rental housing business. As the central and local governments are releasing a variety of measures to invigorate the rental housing market, including the introduction of "New Stay" housing projects, an increasing number of securities firms are looking for new opportunities in this area of business.
Public Sector Debt Balance Exceeds 1,000 Tril. Won
The balance of public debt, as defined by the sum of debts owed by the central government and local governments, as well as that assumed by non-financial state-run enterprises, has surpassed 1,000 trillion won (US$834 billion) for the first time in the nation's history. Although the absolute amount of debt held by state-run corporations has decreased somewhat through restructuring efforts, the total debt volume went up due to the government's increased reliance on treasury bond issuing for stimulus purposes.
Gas Industry Enraged by Energy Minister's Remarks of More Gas Imports from the U.S.
After Minister of Trade, Industry, and Energy Joo Hyung-hwan emphasized the need for strengthening ties with the American shale gas industry to Korea's gas sector CEOs, he was given the cold shoulder from the leaders.
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AJU Business Daily (http://eng.ajunews.com/korea)
Christmas shopping fun facts.
Are you still shopping for Christmas? Here are some fun facts about Christmas shopping.
Red Velvet's Wendy drops collaborated jazz track for Christmas
Girl group Red Velvet's Wendy released a music video for a holiday-themed special track as part of a collaborated project led by artists from her management agency, SM Entertainment.
Girl group AOA drops teaser video 'ANOTHER ME' for new album
Girl group AOA released a teaser video "ANOTHER ME" Monday for the new album scheduled for release on January 1.
In the video uploaded onto AOA's YouTube channel, Seolhyun displayed completely different looks, dressed in black and white. She had released a set of moving images showing the same concept.
Outgoing UN chief denies bribery allegations: Yonhap
Ban Ki-moon, the outgoing UN chief, dismissed a news report that he took cash from a South Korean businessman in the 2000s at the center of a high-profile bribery scandal.
Internet portal Naver under scrutiny for removing search words: Yonhap
NHN Corp., the operator of South Korea's dominant Internet portal, has come under close scrutiny after it was found to have a rule to remove real-time search words if the government asks the portal to do so.
Super Junior's Shindong ends mandatory military service
Super Junior member Shindong was discharged from an army band Friday, ending his mandatory military service, but he was whisked away by his colleague immediately after the singer completed a ceremony in his camp.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
Chinese leave Jeju property market on stricter immigration regulation, diplomatic tensions
Chinese investors who had shown voracious appetite for land and properties on South Korea’s southernmost resort island of Jeju have recently started to back away from the Jeju property market after tightened regulations on investment immigration and escalating diplomatic tensions between Korea and China over the Korean government’s decision to deploy the U.S. Terminal High Altitude Area Defense (THAAD) system.
Samsung Elec to add 6-inch model to its Galaxy S8 lineup for April
Samsung Electronics Co. will add Galaxy S8 Plus, a new smartphone model with a display size of larger than 6 inches, to its usual lineup of Galaxy S8 premium series for next year in hopes to restore its reputation as unrivalled maker of large-screen phablet category in the aftermath of the ill-fated Galaxy Note 7.
Korea govt, ruling party mulling readying extra budget by Feb
The South Korean government and the ruling Senuri Party on Friday agreed to campaign for a supplementary budget for next year as early as February to stimulate the depressed economy. A supplementary budget demands approval from opposition-majority legislative, which is currently engrossed with the power abuse scandal involving the president that it had impeached.
Samsung Elec to unveil windless air conditioner at CES
South Korea’s leading home appliance maker Samsung Electronics Co. will showcase a windless wall-mount air conditioner at the upcoming CES event, world’s largest tradeshow for consumer technology to be held in Las Vegas from January 5 to 8, the company said on Sunday.
S. Korean public sector debt tops $831 billion, share against GDP edges down
South Korea`s public sector debt has exceeded 1,000 trillion won ($831 billion) for the first time last year, but its share in the country`s gross domestic product (GDP) fell slightly amid efforts on deleveraging debt in public institutions, the finance ministry said Friday.
Korea’s Paris Baguette cut backs egg-essential confectionary after bird flu
Paris Baguette, a leading bakery and patisserie brand of South Korea’s food giant SPC Group, has decided to suspend production of some pastries and baked sweets due to reduced egg supply amid the spread of highly pathogenic aviation influenza (AI) virus.
Industrial Bank of Korea names new CEO
Industrial Bank of Korea’s senior executive vice president Kim Do-Jin has been nominated to become the state-owned bank’s chief executive, financial authorities announced on Friday.
According to the Financial Services Commission, Kim will replace Kwon Seon-joo as the chairman and chief executive officer of the Industrial Bank of Korea when the nomination receives formal approval by the presidential office.
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