Thursday, December 3, 2020
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
Ssangyong Motor gets permit for temporary operation of Level 3 self-driving
Ssangyong Motor has obtained additional permission from the Ministry of Land, Infrastructure and Transport to temporarily operate self-driving cars Level 3 and start test driving on general roads in December.
The Ssangyong car that was approved for temporary operation is a Korando-based self-driving car, the company said on Nov. 30. This is the second car after the Tivoli Air-based self-driving car (hereinafter referred to as the Korando-based one.
The Ministry of Land, Infrastructure and Transport introduced a temporary driving permit system for self-driving cars for testing and research purposes in February 2016. Level 3 refers to the level at which cars can be driven autonomously in certain areas, such as highways.
Mirae Asset wins the U.S. hotel acquisition lawsuit against Anbang Insurance
Mirae Asset Global Investments won a lawsuit against China's Anbang Insurance on Nov. 30 in connection with a contract to acquire hotels in the U.S., the company said on Dec. 1.
Accordingly, Mirae Asset is expected to receive $580 million in down payment as well as transaction-related expenses.
On the lawsuit between China's Anbang Insurance and Mirae Asset filed in April, the U.S. equity court in Delaware decided that the seller, Anbang Insurance, failed to meet the terms of the contract and failed to secure rights insurance.
SK Corp. to produce 280,000 tons of blue hydrogen by 2025
SK Corp. will enter the hydrogen business to strengthen the ecosystem of the domestic hydrogen market and accelerate management of ESG (environment, society, and governance), the holding company of SK Group said on Dec. 1.
The company has recently established a hydrogen business promotion team with about 20 experts from energy-related companies such as SK Innovation and SK E&S.
Beginning in 2023, SK E&S will build 30,000 tons of liquefied hydrogen production facilities annually and supply liquefied hydrogen to metropolitan areas.
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KBS (http://world.kbs.co.kr/english/news/)
College Entrance Exam Set to be Held amid COVID-19
The annual College Scholastic Ability Test(CSAT) is set to be held at nearly 14-hundred test sites across the nation on Thursday, amid the third wave of the COVID-19 pandemic in South Korea.
The state-administered college entrance exam will begin with a Korean language test at 8:40 a.m. It will be followed by the math, English, Korean history and science portions. The fifth and final foreign language exam will end at 5:40 p.m.
Initially, the annual exam was set to be held on November 19 but was postponed by two weeks after schools pushed back the beginning of the first semester to April due to the COVID-19 epidemic.
National Assembly Passes 558 Tln Won Budget for 2021
The National Assembly has passed the 558-trillion-won national budget for 2021, the largest budget in Korean history.
The assembly held a plenary session on Wednesday and approved the 2021 budget bill in a vote of 249 to 26, with 12 abstentions.
It marks the first parliamentary passage of the national budget within the legal deadline since 2014. The assembly is required to approve the state budget for the following year by December 2.
S. Korea's FX Reserves See Biggest Gain in 10 Years in November
South Korea's foreign reserves rose nearly ten billion dollars in November, posting the largest gain in a decade.
According to the Bank of Korea(BOK) on Thursday, the nation's foreign currency reserves came to a record high of 436-point-three billion U.S. dollars as of the end of last month, up nine-point-87 billion dollars from a month earlier.
It marks the largest monthly gain since July 2010 when it grew eleven-point-74 billion dollars.
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Yonhap (http://english.yonhapnews.co.kr)
Nat'l college entrance exam begins amid pandemic
Hundreds of thousands of students began taking the annual national college entrance exam Thursday as coronavirus infections continued to spread unabated.
Around 490,000 high school seniors, graduates and others signed up to take the College Scholastic Ability Test (CSAT). That includes 35 coronavirus patients and 404 people in self-quarantine as of Tuesday, according to the education ministry.
Hospital beds have been set up for up to 205 COVID-19 patients and special test centers for up to 3,775 people in self-quarantine.
Prosecution seeks arrest warrants for 3 officials over Wolsong-1 shutdown controversy
The prosecution has sought arrest warrants for three government officials suspected of deleting documents related to the controversial closure of the Wolsong-1 nuclear reactor.
The Daejeon District Prosecutors Office on Wednesday requested that the court grant the warrants against three officials from the Ministry of Trade, Industry and Energy, whose names were withheld, on charges of disturbing the state auditors' examination.
They allegedly destroyed 444 materials and files about the government's decision to terminate the operation of Wolsong-1, the country's second-oldest nuclear reactor, right before the Board of Audit and Inspection (BAI) ordered the submission of the documents late last year.
New virus cases bounce back to over 500 as effect of tougher curbs yet to be felt
The daily number of new coronavirus cases in South Korea bounced back to over 500 again Wednesday, adding to concerns that the country faces a bigger wave of the pandemic in winter amid tougher social distancing measures.
The country added 511 more COVID-19 cases, including 493 local infections, raising the total caseload to 35,163, according to the Korea Disease Control and Prevention Agency (KDCA). It reported no additional coronavirus fatalities, bringing the total to 526.
The daily virus tally has appeared to be slowing over the past three days, staying in the 400 range after peaking at an eight-month high of 581 last Thursday, the KDCA said.
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The Korea Herald (http://www.koreaherald.com)
Opposition raises heat on president over prosecutor general furor
The fallout from troubles between the justice minister and the prosecutor general is engulfing the political arena and generating speculation about President Moon Jae-in’s next move.
On Tuesday, Prosecutor General Yoon Seok-youl gained higher ground in the battle with Minister of Justice Choo Mi-ae, with both the courts and a Justice Ministry committee putting out conclusions favorable to Yoon. The Seoul Administrative Court approved an injunction against Yoon’s suspension from duty, and Yoon immediately returned to work. In addition, the Justice Ministry’s inspection committee said the process of auditing Yoon and requesting that he be penalized was unjust.
With Tuesday’s developments putting Yoon at an advantage, the opposition bloc raised the heat on the ruling Democratic Party and on Moon.
Calls grow for tougher measures as hospitals near crisis
Government officials said Wednesday that the country would hang on without imposing tougher COVID-19 curbs, reiterating the decision announced Sunday, despite metrics over the last two weeks that indicate the second-strictest tier in South Korea’s social distancing system would be appropriate.
A total of 22,973 tests confirmed 511 more cases -- 493 locally transmitted and 18 imported -- on Tuesday, according to the Korea Disease Control and Prevention Agency’s situation report Wednesday. The cumulative number of official cases is now 35,163.
From last Tuesday, Korea has been on the middle social distancing tier, which bans indoor dining past 9 p.m. and allows only to-go orders at cafes. Some businesses classified as risky such as karaoke lounges, gyms, bathhouses and theme parks can operate under limited conditions. Indoor gatherings of up to 100 people are permitted.
Ruling party pushes for legislation of ban on anti-N. Korea leaflet campaign
The ruling Democratic Party of Korea passed a bill that bans anti-Pyongyang leaflet campaigns, at a parliamentary committee session Wednesday.
The bill is now headed for a legal review at the parliament‘s legislation committee before it reaches a final vote.
The party’s members of the Foreign Affairs and Unification Committee voted on the Amendment Bill for the Development of Inter-Korean Relations Act initiated by Rep. Song Young-gil, who chairs the committee.
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The Korea Times (http://www.koreatimes.co.kr)
How COVID-19 has reshaped schools in Korea
For Park Jeong-bin, a first grader at a middle school in Yeongdeungpo District, Seoul, the 2020 academic year did not unfold as she had imagined.
In March, she entered her new school without an opening assembly ― canceled due to the COVID-19 pandemic. The spring semester, after being delayed for a month, kicked off online in April, and only in the first week of June was Park able to attend the school to meet her classmates in person for the first time.
Over the past eight months she has been struggling to cope with remote classes. Park says the cons of online education far outweigh the pros.
CSAT to be held Thursday amid pandemic
More than 490,000 high school seniors and other applicants are set to take the state college entrance exam Thursday amid persistent concerns over the recent spike in the number of COVID-19 infections nationwide.
The health authorities said Wednesday that they are taking extra precautions to ensure all of them take the College Scholastic Ability Test (CSAT) safely, and to prevent test sites from becoming another hotbed of infection.
The annual CSAT is the largest educational event of the year, with hundreds of thousands of students sitting for the exam simultaneously across the country.
Time for President to determine fates of Choo, Yoon
The escalating conflict between Justice Minister Choo Mi-ae and the nation's top prosecutor Yoon Seok-youl has reached a new chapter after the Seoul Administrative Court issued an injunction Tuesday to temporarily lift Yoon's suspension from duty that was ordered by Choo last week.
The court determined that the justice minister's order suspending the prosecutor general lacked the proper grounds and procedural legitimacy. This allowed Yoon to immediately return to work later in the day. The ruling comes a week after Choo banned him from duty following an internal inspection by the Ministry of Justice into his alleged wrongdoings and interference in sensitive cases, and launched disciplinary proceedings against him.
The court decision has dealt a blow to Choo who has been pushing President Moon Jae-in's prosecutorial reform despite a strong backlash from prosecutors. At the same time, it increases the political burden on the President.
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HanKyoReh Shinmun (http://english.hani.co.kr)
Yoon Seok-youl returns to work after 7-day suspension, promises to “defend spirit of constitution”
“I promise to do my best as a public servant of the Republic of Korea to defend the spirit of the constitution and the rule of law,” South Korea’s prosecutor general said at 5:30 pm on Tuesday when he appeared at the Supreme Prosecutors’ Office (SPO) shortly after a court decided he could return to duty. Yoon Seok-youl was responding to prosecutors who asked him how it felt to be back on the job.
“I’m grateful to the judiciary for its swift decision, which enables me to return to the job so quickly,” Yoon added.
“All prosecutors must make an effort to defend constitutional values and political neutrality and become ‘the peoples’ prosecutors’ by applying the criminal code with fairness and equality. I know I can depend upon your passion for justice,” Yoon said in an email he sent to prosecutorial employees around the country immediately after returning to work, seven days after being suspended from duty.
Court’s ruling on Yoon Seok-youl’s suspension require an objective review of the disciplinary process
The brakes have been thrown on Minister of Justice Choo Mi-ae’s attempt to take disciplinary action against Prosecutor General Yoon Seok-youl. On Dec. 1, a court accepted Yoon’s request for an injunction against his suspension, which was ruled as unjust, allowing Yoon to immediately return to duty.
An MOJ disciplinary committee meeting scheduled for Dec. 2 has been postponed to Dec. 4. As a party to the request for disciplinary action, Choo, the committee’s chair, is unable to participate in the review. Deputy Minister of Justice Koh Ki-young, who is supposed to serve as chairperson in her stead, reportedly expressed his intent to resign on No. 30 after his recommendation to withdraw Choo’s disciplinary action was rejected.
While the court did not make a determination on the allegations cited as grounds for the disciplinary action against Yoon, it concluded that his suspension from duty was an excessive measure. It ruled that Yoon had suffered “irreparable damage” in being unable to perform his duties as prosecutor general during the suspension. The court further determined that it was in violation of lawful constitutional procedures to impose a suspension that was not premised on an adequate investigation of the allegations. Moreover, Yoon’s right to defense was not protected during the process.
S. Korea reports 511 new COVID-19 cases
On Dec. 2, South Korea reported 511 new cases of COVID-19, bringing the daily caseload over 500 for the first time in four days. According to the Korea Disease Control and Prevention Agency (KDCA), 493 of the new cases were domestic infections, while the remaining 18 were brought in from overseas. South Korea’s cumulative total now stands at 35,163. As the amount of testing usually decreases during weekends, experts view the spike in cases as the result of increased testing on weekdays.
Among the 493 domestic cases, 356 occurred in the Seoul Capital Area (SCA): 192 in Seoul, 143 in Gyeonggi Province, and 21 in Incheon. Among the overseas cases, six were detected during airport inspection procedures while the remaining 12 were identified during quarantine.
The number of patients undergoing treatment or in quarantine increased by 331 to 6,572, while the number of patients in severe condition increased by four to 101. No new deaths were reported.
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Chosun Ilbo (http://english.chosun.com)
Hospital Beds for Seriously Ill Patients Getting Scarce
Twenty-one Koreans became seriously ill with coronavirus on Tuesday, bringing the total to 97. That reduced the number of available beds for severe cases to 66.
The Ministry of Health and Welfare said Tuesday that out of 548 hospital beds across the country available for seriously ill patients, only 66 are now left.
The number of infections whose sources remain a mystery stood at 1,172 as infections rise.
Life Expectancy Rises to 83.3 Years
Korean babies born in 2019 can expect to live 7.8 years longer than those born two decades ago.
According to Statistics Korea on Tuesday, life expectancy at birth was 83.3 years last year, 0.6 years longer than the previous year and the biggest increase on record.
The average life expectancy did not increase much in 2018 over 2017 as deaths increased amid record cold. This in turn led to the sharp increase in life expectancy the following year, when the weather was more clement.
Global Press Latches on to Fake News Kimchi Spat
The international press on Tuesday latched on to a fake news-based Twitter war between Korean and Chinese patriots over Korea's national staple kimchi.
"[Korea] has rebuffed China after false reports that it had won global certification for its production of kimchi -- a hallowed dish for Koreans," the BBC reported.
Earlier, the propaganda rag Global Times crowed that Chinese kimchi has become the "standard" for the international market and Korea has been put to shame by being certified with the International Organization of Standardization.
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The Dong-A Ilbo (http://english.donga.com/)
Germany votes to permanently install ‘Statue of Peace’ in Berlin
The permanent installation of the Statue of Peace in Berlin, Germany, which was facing the risk of removal, will be discussed. The Japanese government, which has been making persistent requests to the German authorities to take down the statue, immediately opposed.
According to Korea Verband, a civic group of South Koreans living in Germany, the council of Mitte, Berlin held a general meeting on Tuesday (local time) and voted on whether to permanently install the Statue of Peace, which resulted in 24 votes in favor out of 31 attending members.
As the new resolution has begun more active discussions, some believe that the permanent exhibition of the statue has become more likely. However, as the resolution is not legally binding, permanent exhibition has not been confirmed yet. The Japanese side’s demand for the statue’s removal is expected to grow bigger.
Ambassador to Japan proposes ways to settle forced labor issue
Newly appointed South Korean ambassador to Japan Kang Chang-il, a former lawmaker of the Democratic Party of Korea, set out a solution to settle the dispute over wartime forced labor, proposing that the South Korean government compensate the victims first and demand the Japanese company in question to reimburse the payment made afterwards.
Speaking to Japanese media outlets, including Nihon Keizai Shimbun and Yomiuri Shimbun, in Seoul on Wednesday, Mr. Kang said the two countries should find a solution that justifies the cause of both sides and there are several ways to do so.
The proposed solutions include the Korean government taking over the receivables from the plaintiffs in order to prevent the Japanese company from liquidating local assets or Korean businesses, which benefited from the 1964 treaty between South Korea and Japan, making payments in the form of subrogation.
S. Korean investors face two different realities
Both Nikola, a hydrogen truck manufacturer, and Nano-X, a digital x-ray company, were listed on Nasdaq this year amid much fanfare. After being mired in controversy surrounding their technologies, however, the two companies now face different fates. And so do South Korean investors who invested in them.
Nikola closed at 17.37 dollars on Tuesday, 14.89 percent down from the previous day, following a 26.92 percent decrease on Monday. The plunge is largely attributed to GM’s withdrawal from a two billion-dollar project on battery systems and fuel cells with the truck producer. The news that the shares of founder Trevor Milton, who resigned in controversy over “rolling downhill” video, will be eligible to be traded soon did not help either.
Nikola and Nano-X seemed to share the same fate in the beginning. Their hydrogen trucks and medical imaging were seen as innovations. They were successfully listed on U.S. Nasdaq in June and August, respectively, without finished products. At one point, their shares traded at a price 300 percent higher than the offering price. South Korean corporations Hanwha Group and SK Telecom invested in Nikola and Nano-X, respectively, and had to deal with short selling attacks after the controversy erupted.
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The KyungHyang Shinmun (http://english.khan.co.kr/)
A Critical Public with More Voices Holding the President Accountable: Two Days for the President to Clean up His Own Mess
President Moon Jae-in is struggling to find a way out of the dispute between Justice Minister Choo Mi-ae and Prosecutor General Yoon Seok-youl. The clear confrontation between the ruling government and the Prosecution Service has not only weakened the president’s drive for state administration, but it has also been the cause of worsening public opinion. More attention is on the suggestion by Prime Minister Chung Sye-kyun, who stressed a political decision and advised the president to simultaneously dismiss Minister Choo and Prosecutor General Yoon. This day, the justice ministry postponed a meeting of the disciplinary committee to determine actions against the prosecutor general two days to December 4, which gives the president some time to seek a political solution.
However, more than a few experts believe it will not be easy for the president, who stresses legal procedures, to determine the future of Yoon, when the procedure for disciplinary measures against Yoon is still ongoing. Whatever the process, if the president dismisses the prosecutor general--whose term is guaranteed by law--during his term, he will have to bear the political burden as well as the aftermath.
KCDC Concealed Ingredients upon Request from Companies When Announcing the Toxicity of Humidifier Disinfectants
When the Korea Centers for Disease Control and Prevention (KCDC, currently the Korea Disease Control and Prevention Agency) under the Ministry of Health and Welfare investigated the harmful effects that humidifier disinfectants could have on the human body for the first time in Korea in 2011, the KCDC met with business representatives on numerous occasions, accepted some of their requests and concealed the company name and ingredients when announcing the results of their investigation. In 2012, the KCDC announced that they failed to confirm the toxicity of Gaseupgi (humidifier) Mate, manufactured by SK Chemical and Aekyung, but the test, which supported their announcement, was poorly conducted under unequal conditions. The results of the 2012 KCDC study are also being used to back the companies’ argument in the currently ongoing criminal trial of SK Chemical and Aekyung for involuntary manslaughter.
According to the coverage by the Kyunghyang Shinmun on December 1, the KCDC and humidifier disinfectant manufacturers like SK Chemical met privately three times on August 26, 27 and 29, 2011. At the time the KCDC had launched an investigation into humidifier disinfectants and identified the main ingredients (CMIT/MIT) of Gaseupgi Mate made by SK Chemical and Aekyung and the potential hazard of an ingredient (PHMG) used in Oxy Ssakssak. According to the investigation by a special committee for the investigation of social disasters (special committee), SK Chemical repeatedly asked the KCDC to refrain from releasing the fact that the disinfectant could cause lung diseases as well as the name of the company and ingredients of the disinfectant until they reached a conclusion on the harmfulness of the substances.
An Accomplice in Bribery or a Victim? The Debate Continues in a Retrial of Lee Jae-yong
Is the head of a conglomerate who gave bribes to the president at the time of the Park Geun-hye government a passive victim, who succumbed to the demands of political power, or an active conspirator seeking his own interests? The debate continued in a retrial of Lee Jae-yong, vice chairman of Samsung Electronics, for his connection to the abuse of state authority, held on November 30.
At the seventh session of the retrial of Lee Jae-yong held at Criminal Division 1 of the Seoul High Court this day, the team of special prosecutor Park Young-soo and the legal representatives of Lee made arguments concerning their interpretation of the final ruling on the abuse of state authority.
The special prosecutor submitted as evidence the Supreme Court rulings on former President Park Geun-hye and Choi Seo-won (formerly Choi Soon-sil) and a summary of the indictment on Lee’s alleged illegal succession of management, which was processed as a separate case from the abuse of state authority. The special prosecutor said, “Lee argues that he vaguely expected proper dealings when handing the bribe, but the Supreme Court ruling on the abuse of state authority by Park Geun-hye and Choi Seo-won clearly states that the purpose of the bribe was to succeed the management of the company.”
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
Samsung Elec, SK Hynix shares fly on projection of another memory boom in 2021
Samsung Electronics Co. is sanguine about next year’s global memory demand and will deploy new innovations to keep a comfortable lead in the market while it is in a boom cycle.
The global demand for DRAM market is expected to grow 15 to 20 percent and 30 to 35 percent for NAND flash in 2021, the South Korean chip giant told institutional investors at an investor forum it hosted earlier on Monday.
The upbeat prospects pushed up shares in Samsung Electronics, which has been testing historic highs, by 2.51 percent to 69,500 won ($63.2) Wednesday. Its smaller local rival SK Hynix Inc. finished the day up 8.46 percent at 109,000 won.
Hyundai Motor touts proprietary EV platform can power EV 311 miles per charge
Hyundai Motor Group on Wednesday unveiled its much-speculated proprietary electric vehicle dedicated platform Electric-Global Modular Platform (E-GMP) that would buttress future EVs of Hyundai Motor and Kia Motors.
E-GMP is an integrated platform optimized to EV production that will enable Hyundai Motor and Kia Motors to aggressively expand EV lineups and enhance production efficiency through streamlined manufacturing.
Hyundai Motor said an EV based on E-GMP is capable of running more than 500 kilometers (310.7 miles) on a single charge and being charged up to 80 percent in 18 minutes by a using high-speed charger. It means, the vehicle can add a 100 km driving range in just five minutes.
Samsung Elec shakes up top management in memory, foundry biz
Samsung Electronics Co. on Wednesday appointed new heads for its memory and foundry business while keeping its three chief executives.
Lee Jung-bae, who previously led Samsung’s DRAM product and technology unit, was promoted to chief of the memory business. Choi Si-young, who had headed the company’s memory manufacturing technology center, would be the new chief of the foundry business.
Lee Jae-seung, the head of Samsung’s digital appliances business, was promoted to president from executive vice president.
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And many other countries.
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