Headlines, October 21, 2020
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Headlines, October 21, 2020
  • Lee Kyung-sik
  • 승인 2020.10.21 10:11
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Wednesday, October 21, 2020

 

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

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

CEO Huh In wins the 3rd term to lead KB Kookmin Bank for another year
KB Financial Group held a committee meeting on Oct. 20 to recommend candidate for the CEO of its affiliate on Oct. 20 and selected KB Kookmin Bank CEO Huh In as its candidate for the bank’s next president.
After a final review and recommendation, including in-depth interviews with the bank's presidential candidate recommendation committee, the final decision will be made at the bank's shareholders' meeting in November. His term of office is until the end of 2021.

LG Electronics campaigns to combat hunger on Times Square billboard in NY
LG Electronics has launched a campaign to fight hunger by using its large electronic display board at Times Square in New York, the company said on Oct. 18.
LG Electronics posted a promotional video on the Times Square billboard for three days from Oct. 15 to commemorate the "World Food Day" designated by the U.N. Food and Agriculture Organization (FAO).
The video was produced by the Food and Agriculture Organization of the United Nations and contains a message that many people should work with interest to end hunger.

Jeju Gov. Won Hee-ryong seeks to create 40,000 new jobs through New Deal plan
“Through the Jeju-style New Deal plan, Jeju Province plans to discover and foster future new industries and create 40,000 new jobs,” Governor of Jeju Special Self-Governing Province Won Hee-ryong said.
In a written interview with the Korea Post on Oct. 15, Gov. Won said, "Jeju has been trying to transform itself into a low-carbon society for the past decade. Jeju's Green Big Bang strategy centered on the Carbon Free Island 2030 project and the low-carbon strategy have resulted in the nation's best renewable energy ratio of 14.4 percent, along with the change in supplying more than 30% of electricity with renewable energy.”

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KBS (http://world.kbs.co.kr/english/news/)
S. Korea Adds 91 COVID-19 Cases
South Korea's daily new COVID-19 cases remained below 100 for the sixth consecutive day.
The Korea Disease Control and Prevention Agency(KDCA) said on Wednesday that 91 additional cases were confirmed throughout Monday, bringing the accumulated caseload to 25-thousand-424.
The daily figure rose by 33 from the previous day and remained in double-digits for six consecutive days.

Jobs for Youth Hit Hardest by COVID-19
Data showed South Korea's young job seekers were hit hardest by the economic fallout of the COVID-19 pandemic.
According to the analysis of state job data by Yonhap News on Wednesday, about 417-thousand South Koreans aged 15 to 39 lost their jobs in April in the wake of the outbreak of the novel coronavirus.

Justice Minister Criticizes Prosecution over Probe into Fund Scandal
Justice Minister Choo Mi-ae has criticized the prosecution again for the alleged mishandling of a massive financial fraud scandal.
On her social networking account on Wednesday, the minister denounced the Supreme Prosecutors Office for "deceiving" the public in relation to its probe into Kim Bong-hyun, a key suspect.
The fund scandal involving Lime Asset Management is now emerging as a lobbying scandal after Kim testified earlier this month in a trial that he lobbied politicians and state prosecutors.

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Yonhap (http://english.yonhapnews.co.kr)
New virus cases under 100 for 6th day; untraceable, cluster infections still worrisome
South Korea's new coronavirus cases rose by double digits for the sixth day on Wednesday, marking nearly a week of low numbers, but untraceable and sporadic cluster infections continued to put strain on the country's virus fight. Imported cases also reached an almost three-month high.
The country added 91 more COVID-19 cases, including 57 domestic infections, raising the total caseload to 25,424, according to the Korea Disease Control and Prevention Agency (KDCA).

Coronavirus hits jobs for young S. Koreans hardest
Young South Korean workers have borne the brunt of the fallout from the coronavirus outbreak that first struck Asia's fourth-largest economy in late January, data showed Wednesday.
The number of employed South Koreans began to dwindle in March in the wake of the outbreak of COVID-19 as the flu-like disease made a big dent in the economy.

Exports fall 5.8 pct in first 20 days of October
South Korea's exports fell 5.8 percent on-year in the first 20 days of October amid the fallout from the new coronavirus outbreak, customs data showed Wednesday.
The nation's outbound shipments stood at US$25.2 billion in the Oct. 1-20 period, compared with $26.7 billion a year ago, according to the data from the Korea Customs Service.
Per-day exports, however, rose 5.9 percent on-year in the Oct. 1-20 period, the Korea Customs Service said. 
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The Korea Herald (http://www.koreaherald.com)
Intel deal to make SK hynix world's No. 2 NAND provider
SK hynix announced Tuesday that it would acquire Intel’s NAND business for $9 billion, in a deal that will make it the world’s second-largest NAND flash memory provider.
SK hynix said it has signed an agreement with Intel under which the Korean chipmaker will acquire the US tech giant’s NAND memory and storage business.

Esper says US continues to face threats from N. Korea, other rogue states
The United States continues to face ongoing threats from rogue states such as North Korea, US.
Secretary of Defense Mark Esper said Tuesday, highlighting the need to further enhance his country's alliances and defense capabilities.
"Since my confirmation as secretary of defense well over a year ago, my No. 1 priority has been implementing the national defense strategy (NDS). The NDS tells us that we are now in an era of great power competition, with our primary competitors being China and Russia," the US defense chief said in a webinar hosted by a Washington-based think tank, the Atlantic Council.

Profitability miscalculated in Wolsong-1 early closure: BAI
Korea Hydro & Nuclear Power underestimated the economic viability of the country’s second-oldest nuclear reactor before its earlier than scheduled closure last year, the top audit watchdog said Tuesday.
Wolsong-1, a 679-megawatt reactor in Gyeongju, North Gyeongsang Province, was retired from operation in December last year, in what was billed as a milestone in President Moon Jae-in’s anti-nuclear initiative.
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The Korea Times (http://www.koreatimes.co.kr)
Concerns rise about flu shots after 3 suspected deaths
Public anxiety is growing over the safety of flu vaccines in South Korea as three people have died after receiving flu shots.
On Tuesday, a 78-year-old woman was found dead at her home in Gochang, about 300 kilometers south of Seoul, after receiving a flu shot a day earlier, according to the Korea Disease Control and Prevention Agency (KDCA).
On the same day, an 82-year-old man was found dead at his house in the central city of Daejeon after getting the shot earlier in the day.

Samsung heir looking for investment opportunities in Vietnam
Samsung Group, South Korea's top conglomerate, said the group's heir met with the leader of Vietnam on Tuesday and discussed investments in the southeast Asian country.
Samsung Electronics Co. Vice Chairman Lee Jae-yong, the de facto leader of Samsung, said he will visit Samsung's Ho Chi Minh subsidiary and see if there is the necessity to make further investments in the local operations, during the meeting with Vietnamese Prime Minister Nguyen Xuan Phuc, the company said.

Biden likely to seek step-by-step approach toward North Korea: expert
U.S. Democratic presidential candidate Joe Biden would likely pursue a step-by-step approach toward North Korea with reciprocal benefits for both sides if elected, a former U.S. State Department adviser on nonproliferation and arms controls said Tuesday.
Robert Einhorn, now serving as a senior fellow at the Brookings Institution, declared U.S. President Donald Trump's maximum pressure campaign has failed.

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HanKyoReh Shinmun (http://english.hani.co.kr)
Greta Thunberg tells Moon that “actions speak louder than words” when it comes to climate change
“If [President Moon Jae-in] says that he admires what I do, then he’d better prove it. Because actions speak much louder than words,” Greta Thunberg said during a video interview with the Hankyoreh on Oct. 16.
Greta Thunberg, the 17-year-old environmental activist from Sweden, is regarded as the avatar of the climate movement and a spokesperson for future generations.

Japanese companies can begin repairing S. Korea-Japan relations by apologizing to forced labor victims
I remember the first time I ever met survivors of forced labor mobilization by imperial Japan face-to-face was in late 2004. In an article published on Jan. 2, 2005, I quoted the account of Go Bok-nam, then 88, who tearfully recounted how he had been taken to Hainan Island off the coast of southern China and “worked like a dog before coming home.” Shamefully, only about 30% of his recollections were comprehensible to a young Korean in his 20s; the memories of senior citizens already in their 70s and 80s were precarious, and I was unfamiliar with the Japanese words that popped up at odd moments.

Korean food delivery app Baedal Minjok takes second shot at Japan
South Korea’s top food delivery app Baedal Minjok is taking another shot at the Japanese market after its pullout five years ago.
Woowa Brothers, operator of Baedal Minjok, announced Monday that it would be launching a food delivery service called “Food Neko” in Japan next month through its local subsidiary.

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Chosun Ilbo (http://english.chosun.com)
Millennials Save for Dream of Own Home
Millennials are becoming obsessed with the idea of buying a home one day even as their hopes fade amid escalating housing prices, a straw poll suggests.
Mirae Asset polled 700 people between 25 and 39 across the country in May this year. Respondents were allowed to select multiple answers.
Asked about their top financial priority, 61 percent said they save money to buy homes. Next came preparation for retirement (50 percent) and for marriage (29 percent).

18-Year-Old Dies After Free Flu Vaccination
An 18-year-old high schooler in Incheon has died after being injected with a free flu vaccine.
The incident occurred amid fears about the safety of flu vaccines administered by the government after a large batch were found to have been improperly stored during delivery or to contain white floating particles.
"An 18-year-old who received a free government-procured vaccine injection at a private clinic in Incheon on Oct. 14 died on the morning of Oct. 16," Korea Disease Control and Prevention Agency chief Jung Eun-kyeong said Monday.

Korea's Seaweed Exports Soar
Korean dried seaweed or gim is all the rage in Southeast Asia and elsewhere, occupying dedicated shelves in stores from Indonesia to Thailand and Vietnam.
The biggest producers are CJ Cheiljedang, Daesang and Dongwon F&B.
Gim or laver is an edible variety of seaweed that is traditionally eaten in Korea and Japan, and the Korean variety is conquering overseas markets. It is typically sold in sheets and spiced with different flavors.

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The Dong-A Ilbo (http://english.donga.com/)
Russia’s military intelligence is behind Olympics cyberattacks
The United States and the United Kingdom have accused Unit 74455 of GRU, Russia’s military intelligence, of targeting the opening ceremony of the 2018 Winter Games. The attack caused the broadcasting system of the main press conference room to be shut down and the website of the organizing committee to crash.
CNN reported that the Justice Department said GRU members wiped data from thousands of computers related to the 2018 Winter Olympics in Pyeongchang and disabled them by using malware called “Olympic Destroyer” in retaliation. The department also said it would charge six GRU members for seven breaches including computer fraud, identity theft and damages to computers.

U.S. Indo-Pacific military commander visits S. Korea
The Ministry of National Defense said that Philip Davison, commander of U.S. Indo-Pacific Command, visited South Korea on Tuesday to discuss pressing issues facing the alliance including security on the Korean Peninsula and in the region.

According to the South Korean ministry, Minister Seo and Commander Davison agreed that the U.S. Indo-Pacific Command plays an important role in achieving complete denuclearization and building permanent peace on the Korean Peninsula and to maintain the solid joint defense posture to support diplomatic efforts of the two nations. Prior to this meeting, Commander Davison had luncheon together to exchange views on the recent developments in North Korea.

Samsung ranks 5th on Interbrand’s Best Global Brands ranking
Samsung Electronics’ brand value has been ranked 5th in the world for the first time. The South Korean tech giant has cemented its place as one of the world’s top tech companies with the ranks of Apple, Amazon, Microsoft, and Google, according to experts. Samsung was also the only non-American company in the top five on the list.
According to the Best Global Brands 2020 announced by global brand consulting firm Interbrand on Tuesday (local time), Samsung Electronics was the fifth most valuable brand in the world with an estimated brand value of its largest-ever 62.4 billion dollars. With tech brands appearing strong on the list due to COVID-19, Samsung’s brand value rose about 2 percent from last year’s 61.1 billion dollars (6th on the list).
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The KyungHyang Shinmun (http://english.khan.co.kr/)
Boiling Rage at the String of Deaths of Couriers. NGO Claims, “Murder by Late Night Deliveries”
A number of deaths of couriers has triggered more voices to demand improvements in the working environment in the logistics industry. The Ministry of Employment and Labor will conduct an emergency inspection of major logistics firms.
A group seeking measures to prevent deaths of couriers from an excessive workload held a press conference in front of the Hanjin Logistics head office in Jung-gu, Seoul on October 19 and said, “A courier who had no chronic diseases died at a young age. It was clearly and undeniably due to an overwhelming workload.” The group continued and said, “We strongly ask the government for drastic measures to prevent any more deaths of couriers.”

Justice Minister Choo to Oversee Investigation of Lime and Prosecutor General Yoon Seok-youl’s Family
On October 19, Minister of Justice Choo Mi-ae exercised her authority to oversee the investigation of the alleged lobbying by Lime Asset Management and the allegations linked to Prosecutor General Yoon Seok-youl’s family and aides. In other words, the justice minister stripped the prosecutor general of his authority to oversee the investigations of these cases.
This was the second and third time that Minister Choo exercised her authority to oversee an investigation following the investigation on the questionable relationship between prosecutors and the press last July. Prosecutor General Yoon immediately accepted the minister’s decision to lead the Lime investigation.

Another Courier Dies: The Third Death This Month Alone, the Tenth Death This Year
Another courier lost his life. This was the tenth death of a courier this year, and the third death this month.
According to the Taekbae Union on October 18, Gim (36), who worked at the Dongdaemun, Seoul branch of Hanjin Logistics, was found dead on October 12.
According to the union, Gim’s colleague went to Gim’s house, after he failed to show up for work and found out about Gim’s death.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
SK Hynix buys Intel’s memory unit for $9 bn to become No. 2 NAND player
SK Hynix Inc. said Tuesday it is acquiring the non-volatile memory chip operation of Intel Corp. for 10.3 trillion won ($9.03 billion), a move that would make it the world`s second-biggest player in both DRAM and flash memory after Samsung Electronics Co.
The deal will include all of the American chip giant’s NAND flash business, including solid state drive, NAND flash memory and wafer operations, except the Optane memory unit, the Korean chipmaker disclosed. Intel’s fab in Dalian, China, its only chip manufacturing site in the country, will also come under the Korean chipmaker.

Hyundai Motor, Kia Motors book $3 bn recall reserves in Q3 statement
Hyundai Motor Co. and its sibling Kia Motors Corp. booked as much as 3.4 trillion won ($3 billion) in loss reserves to cover for recalls in their third-quarter income statements to send a strong message on quality control by the Korean auto brands.
Hyundai Motor set aside 2.1 trillion won and Kia Motors 1.26 trillion won in advance expenditures in their third-quarter income statement both due next Monday.

Korean food delivery app Baedal Minjok takes second shot at Japan
South Korea’s top food delivery app Baedal Minjok is taking another shot at the Japanese market after its pullout five years ago.
Woowa Brothers, operator of Baedal Minjok, announced Monday that it would be launching a food delivery service called “Food Neko” in Japan next month through its local subsidiary.

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What’s ticking around the world at this second?
See what the world media around the world have to report:
USA Today www.usatoday.com aallman@gannett.com
The New York Times www.nytimes.com inytletters@nytimes.com
Wall Street Journal www.wsj.com support@wsj.com, service@wsj-asia.com
Financial Times www.ft.com ean@ft.com
The Times www.thetimes.co.uk help@timesplus.co.uk
The Sun www.thesun.co.uk talkback@the-sun.co.uk
Chinese People's Daily www.people.com.cn kf@people.cn
China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn
GwangmyeongDaily www.gmw.cn webmaster@gmw.cn
Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com
Asahi www.asahi.com customer-support@asahi.com
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de
SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de
AustraliaBrisbaneTime www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Herald www.smh.com.au
Colombia Reports http://www.colombiareports.com
BogotaFree Planet http://www.bogotafreeplanet.com bfp@bogotafreeplanet.com
El Universal https://www.eluniversal.com.mx/english
Andes https://www.redaktionstest.net/andes-info-ec/
Ecuador Times https://www.ecuadortimes.net/
The Jordan Times https://www.jordantimes.com/
LSM.lv https://www.lsm.lv//
The Baltic Times http://www.baltictimes.com, lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais https://english.elpais.com/
Philippine Daily Inquirer https://www.inquirer.net/
Daily News Hungary https://dailynewshungary.com/
Budapest Times https://www.budapesttimes.hu/

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The Korea Post is running video clips from the different embassies.
Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.

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