Headlines, October 12, 2020

Monday, October 12, 2020

Round-up of important news from major Korean dailies and from international media today

The Korea Post (http://www.koreapost.com/)

Leaving Dulles Airport
A short novel by Lady Novelist Han Malsook
The following short novel was provided by the author for publication by The Korea Post media. The author, famed Korean lady novelist Madam Han Malsook, is widely known in Korea and around the world for the English and other foreign-language translations of her works that are rated to be among the most prolific in Korea. Among her other translated works are Hymn of the Spirit, The Long Rain, Age of Exploration, Certain Death, An Old Woman and a Cat, The Rainy Season, Black Rose, A White Distance, and Traces. This short novel was translated into English jointly by Hyon O’Brien and Suzanne Crowder Han and was published by Munhak Sasang in 2002. The Long Rain was published by The Korea Post.--Ed. For full details, please visit: www.koreapost.com.
North Korea’s missing acting ambassador, Mr. Jo Song-gil, is now in Seoul
Charge d’Affaires Jo Song-gil of North Korea in Italy, who went missing in Italy in November 2018, came to South Korea in July last year and is currently settling down, the head of the South Korea's parliamentary intelligence committee confirmed on Oct. 7.
"Former Acting Ambassador Jo came to South Korea voluntarily in July 2019," Rep. Jeon Hae-cheol, chairman of the National Assembly's intelligence committee, told reporters. "He had repeatedly expressed his wish to come to South Korea."

POSCO, Exxon Mobil conclude a MOU to attack global LNG market
POSCO announced on Oct. 7 that it will strengthen technical cooperation with global company Exxon Mobil to expand the application of the world's first mass-produced high manganese steel to the market.
The two companies held a business agreement ceremony to develop high manganese steel and accelerate its application to the market by connecting Exxon Mobil RE (Research & Engineering Co.) of New Jersey and Exxon Mobil URC(Upstream Research Co.) of Texas with POSCO Research Co. The agreement was carried out on a non-face-to-face online basis due to the COVID-19 pandemic.

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KBS (http://world.kbs.co.kr/english/news/)
S. Korea's Daily COVID-19 Cases Rebound to Nearly 100
South Korea's daily new COVID-19 cases rebounded to nearly 100 again on Monday, a day after the government eased social distancing guidelines to the lowest level.
The Korea Disease Control and Prevention Agency said Monday that 97 new cases were detected throughout Sunday, bringing the accumulated caseload to 24-thousand-703.
The daily figure jumped 39 cases from the previous day although it remains below 100 for five straight days.

Trump 'Really Angry' about N. Korea's Military Parade, ICBM Showcase
U.S. President Donald Trump was reportedly "really angry" about North Korea's recent military parade, in which it showcased a new intercontinental ballistic missile(ICBM) and other strategic weapons.
Citing an unnamed source on Sunday, U.S. media outlet Vox’s national security reporter Alex Ward tweeted that Trump was "really angry" about the parade, and "really disappointed" in North Korean leader Kim Jong-un.
This comes as Trump has often boasted about his personal friendship with Kim, which he claimed made possible their two formal and one impromptu summit meetings in 2018 and 2019.

Overseas Veterans to Urge UN to Declare Formal End to Korean War A U.S. nonprofit organization(NGO) will resume efforts to push the UN to declare a formal end to the Korean War on behalf of American soldiers who fought in it.
The head of the Korean War Legacy Foundation, Han Jong-woo, said Sunday that the NGO plans to gather signatures from Korean War veterans, both in the U.S. and other countries, and submit to the UN a petition calling for the world body to declare an end to the war.
The foundation was quick to cite that the late Hawaii University Professor and Korean War veteran Glenn Paige was the one who first suggested the idea of formally ending the Korean War through the UN and to transform the armistice into a peace treaty.

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Yonhap (http://english.yonhapnews.co.kr)
S. Korea lowers social distancing but remains on alert over potential resurgence
South Korea on Monday began implementing the lowest level of its social distancing guidelines following a slowdown in new cases in recent weeks, but the country remains vigilant over a possible resurgence of COVID-19.
Under the decision, the country eased the previous Level 2 social distancing measures to Level 1 in the three-tier system across the country.
The measure comes as the number of daily new infections has mostly increased by double digits over the past two weeks, sharply down from triple-digit growth in late August following a holiday and a mass rally that took place in central Seoul.

New virus cases spike again on 1st day of eased social distancing scheme
South Korea's new virus cases spiked again Monday, though the daily tally stayed below 100 for the fifth consecutive day, as the country eased its tougher social distancing measures.
The country added 97 COVID-19 cases, including 68 local infections, raising the total caseload to 24,703, according to the Korea Disease Control and Prevention Agency (KDCA).
It marked a sharp rise from 58 cases reported Sunday and 72 cases identified Saturday. The daily figure had rebounded to 114 on Wednesday last week before falling back to 69 the following day.

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The Korea Herald (http://www.koreaherald.com)
S. Korea lowers social distancing but remains on alert over potential resurgence
South Korea on Monday began implementing the lowest level of its social distancing guidelines following a slowdown in new cases in recent weeks, but the country remains vigilant over a possible resurgence of COVID-19.
Under the decision, the country eased the previous Level 2 social distancing measures to Level 1 in the three-tier system across the country.

NK leader attends mass gymnastics show despite antivirus campaign
North Korean leader Kim Jong-un watched a mass gymnastics performance held to celebrate the 75th founding anniversary of the ruling Workers' Party, state media said Monday, despite the country's nationwide antivirus campaign.
Kim attended the grand mass games and artistic performance entitled "Great Guidance" at the May Day Stadium in Pyongyang on Sunday, the official Korean Central News Agency (KCNA) said.

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The Korea Times (http://www.koreatimes.co.kr)
Korea to implement mandatory mask use from Tuesday
People will be required to wear face masks on mass transportation and in public places starting Tuesday to help better combat the coronavirus outbreak.
The requirement is in line with the implementation of the country's infectious disease control and prevention act aimed at stemming the spread of the flu-like virus, officials said.
If people do not wear masks on public transportation and at demonstrations, as well as medical and care facilities, they will face a fine of up to 100,000 won (US$87).

New virus cases jump again on first day of eased social distancing scheme
South Korea's new virus cases spiked again Monday, though the daily tally stayed below 100 for the fifth consecutive day, as the country eased its tougher social distancing measures.
The country added 97 COVID-19 cases, including 68 local infections, raising the total caseload to 24,703, according to the Korea Disease Control and Prevention Agency (KDCA).
It marked a sharp rise from 58 cases reported Sunday and 72 cases identified Saturday. The daily figure had rebounded to 114 on Wednesday last week before falling back to 69 the following day.

BLACKPINK's first full album hits No. 2 on Billboard in new milestone for K-pop girl group
K-pop megastar BLACKPINK's first full-length album debuted at No. 2 on the Billboard main album chart this week, setting a new record in the history of South Korean girl groups.
"At No. 2 on the Billboard 200, BLACKPINK's debut full-length 'The Album' enters with 110,000 equivalent album units earned," Billboard reported Sunday (US time), one day before its chart will be updated.
Of the total, 81,000 came from traditional album sales, while the remaining came from streaming and digital downloads, according to Billboard.

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HanKyoReh Shinmun (http://english.hani.co.kr)
Euljiro 3-ga: where new and old collide
Euljiro 3-ga is a neighborhood I remember via my taste buds. When my friends and I dropped by my father’s hole-in-the-wall tool store in Euljiro in high school, he took us out to a restaurant that served bulgogi and naengmyeon — grilled marinated beef and noodles swimming in a cold broth. We weren’t old enough to appreciate naengmyeon yet, so we wolfed down the bulgogi and bowls of rice.

South Korean culture has entered a magic circle
For the first time ever, South Korea has recorded a half-year surplus in culture and arts copyrights. Put another way, South Korea is exporting more culture than it is importing.
The continuous success of BTS or Blackpink is well-known. “Parasite” winning the Oscar for best picture was a truly historic moment that will be remembered for years to come. And Bong Joon-ho and fellow acclaimed directors Park Chan-wook and Lee Chang-dong now command cult followings.

Moon emphasizes inter-Korean peace and ending Korean War in address to Korea Society
On Oct. 8, South Korean President Moon Jae-in once again underlined the need to officially end the Korean War. His remarks came about two weeks after he mentioned an end-of-war declaration in a video address to the UN General Assembly last month. This suggests that Moon means to keep promoting his administration’s Korean Peninsula peace process despite a number of unfavorable developments, including the fatal shooting of an official from the Ministry of Oceans and Fisheries and the postponement of US Secretary of State Mike Pompeo’s trip to South Korea.
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Chosun Ilbo (http://english.chosun.com)
N.Korea Unveils New Strategic Missiles at Anniversary Parade
North Korea on Saturday unveiled a new mobile intercontinental ballistic missile and a submarine-launched ballistic missile in a military parade marking the 75th anniversary of the Workers Party.
The parade also featured a massive artillery weapon that is thought capable of hitting any target in South Korea and a smaller Iskander-type missile designed to evade anti-missile batteries.

Gov't Eases Social Distancing
Social distancing rules have been eased since Monday morning. Prime Minister Chung Sye-kyun on Sunday said the government made the decision since there has been no dramatic spike in coronavirus infections since the Chuseok holiday.
That means restrictions on the number of people who may gather indoors have been lifted above 50. And stadiums for professional baseball and soccer events are now allowed to accept audiences at up to 30 percent capacity.

Japan Wins Battle Against Sex Slave Statue in Berlin
Japan is on the verge of winning a battle to remove a new statue in Berlin that commemorates Korean victims of wartime sexual slavery under the Japanese Imperial Army.
The statue was set up in a public square by a local Korean activist group last month along with a plaque detailing the victims' plight.

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The Dong-A Ilbo (http://english.donga.com/)
Pyongyang develops monstrous ICBM
North Korea on Saturday revealed the world’s largest mobile intercontinental ballistic missile (ICBM) system, which seems to be capable of flying even to the eastern coast of the United States such as Washington, D.C. and New York. The new ICBM system can carry up to three warheads, each of which weighs 600 kilograms. North Korean leader Kim Jong Un put explicit pressure on the U.S. by mentioning “self-defensive nuclear deterrence” and “retaliatory nuclear attack,” seemingly implying that the North Korean regime has amplified nuclear strike capabilities behind the scenes while buying time throughout the last three years’ denuclearization talks since 2018

LG Chem is faced with rising risks
LG Chem’s reputation as a number one global battery provider is at risk as the Ministry of Land, Infrastructure and Transport’s investigation suggests that Hyundai Kona EV fires could have been caused by “internal short circuits inside batteries due to defective battery cells”. Chinese newspapers are portraying a negative image of the South Korean chemical company, which was overtaken in August by its Chinese rival, CATL, in market share.

Looking for Korean War Veterans in Mexico
The Korean Embassy in Mexico is searching for Mexican soldiers who participated in the Korean War as members of the U.S. military.
The embassy uploaded a poster reading that “Korea is searching for Mexican war veterans who fought for South Korea 70 years ago to express gratitude” on its website and social media channels on Friday (local time.)” The embassy will also publish an advertisement to that effect in local dailies there soon.

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The KyungHyang Shinmun (http://english.khan.co.kr/)
Women Can Get an Abortion for Social and Economic Reasons During 15-24 Weeks of Pregnancy
The government is planning to permit abortion unconditionally for up to fourteen weeks of pregnancy. Women in their 15-24 weeks of pregnancy can have an abortion for social, economic reasons.
However, the government still stirred controversy for not reflecting the opinion of civil society, which demanded an end to punishment on abortion regardless of how far the pregnancy had progressed.
On October 7, the ministries of justice, health and welfare, and food and drug safety announced legislation plans for an amendment of the Criminal Act and the Mother and Child Health Act including these details. The government presented the draft amendment a year and six months after the Constitutional Court made a ruling that the stipulation of abortion as a crime in the Criminal Act was inconsistent with the Constitution for it infringed a woman’s right of self-determination last April.

Victims of a Massacre During the Vietnam War File a Petition at the UN, “I Want an Apology from the South Korean Government”
Nguyen Thi Thanh was shot by the South Korean Cheongryong (Blue Dragon) Unit (2nd Marine Brigade) at Phong Nhi, Phong Nhat village in Quang Nam Province, Vietnam on February 12, 1968. At the time, she was seven years old. The Blue Dragon troops killed dozens of unarmed villagers. Nguyen watched as her mother was shot along with the other villagers. She lost her siblings and her aunt. The Blue Dragon soldiers attacked the nearby Ha My village twelve days later on February 24. There was a ten-year-old girl, another Nguyen Thi Thanh, in this village. When the Blue Dragon troops threw a grenade, her mother wrapped herself around her. When the grenade exploded, she injured her ears, legs and lower back. Her mother died.

The Fandom Economy: Massive Groups of Fans Are Moving the Money
Retail investors deposited 58 trillion won in bids for shares in Big Hit Entertainment, the management company of BTS. The latest investors included members of ARMY, the BTS fandom, as well as general investors. More and more fans seem to buy shares because they see the shares of their artist’s management company as meaningful “goods (merchandise),” rather than because of any interest in profits from rising stock prices. One representative of an investment bank said, “When teenage fans continue to be fans into their twenties and thirties, when they obtain economic power, the demand for relevant shares remain strong, preventing the prices from dropping easily,” and added, “The fandom is now affecting even the value of corporations.”

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Maeil Business News Korea (http://www.pulsenews.co.kr/)
LG Chem reports quarterly best operating profit and sales in Q3 guidanceSouth Korea’s LG Chem Ltd. commanding the top in global EV power reported best-ever earnings that more than doubled from a year ago in the July-September period.
In its preliminary earnings disclosed Monday, LG Chem announced its consolidated operating profit in the July-September period reached a quarterly record of 902.1 billion won ($784.8 million), up 57.8 percent from the previous quarter and 158.7 percent from the same period a year ago. Sales also reached a quarterly all-time high of 7.5 trillion won, up 8.2 percent on quarter and 8.8 percent on year.

Korea Teachers’ Credit Union cashes out of Ellie Mae with 4 times ROI
Korea Teachers’ Credit Union (KTCU) earned $116 million in a year from its equity investment in U.S. cloud lending solutions provider Ellie Mae.
Korea’s second-largest institutional investor committed $37.6 million in a joint $3.45 billion fund with private equity firm Thoma Bravo last year. The investment paid off handsomely when International Exchange, the owner of the New York Stock Exchange, in August this year agreed to acquire the Pleasanton, California-based company from Thoma Bravo in a deal worth $11 billion.

Hyundai Motor studies launch of used car dealership
South Korea’s largest automaker Hyundai Motor Co. is studying to directly run used car dealership, a move that can help to upgrade quality and transparency in the secondary car market but threaten the viability of smaller dealers from the entry of an auto behemoth.
Kim Dong-uk, an executive vice president of Hyundai Motor, argued on the necessity of a finished car maker’s presence in the used car market in a parliamentary hearing last Thursday, citing a survey that 70 to 80 percent of used car buyers complain of quality and pricing.

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Lee Kyung-sik edt@koreapost.com

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