Wednesday, November 17, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
Seoul greets a wonderful, seasoned, ambitious lady ambassador from Cambodia
All these years since the resumption of diplomatic relations with the Kingdom of Cambodia in 1997, the Republic of Korea has been favored with wonderful ambassadors from the country. However, this year it appears that Korea greets one of the most wonderful ambassadors. The ambassador, Madam Chring Botum Rangsay, spoke the English language in a manner which no one could really tell apart from that used by Britons or Americans. With the new ambassador from Cambodia, it appears that the two countries are now in for a one-notch upgraded level of relations, cooperation and friendship.
“Bilateral ties grow into economic, cultural, scientific, many other areas”
Economic & Commercial Counsellor Dario Saez at the Embassy of Spain in Seoul said, “Last year, we celebrated the 70th anniversary of the establishment of bilateral relations between Korea and Spain, which began with the State Visit that Their Majesties the King and Queen of Spain paid to Korea in October 2019.” Then he said, “This visit was followed by the State Visit by President Moon Jae-in paid to Spain last June.” During these visits,” said Counsellor Saez, “Our two countries were able to address and advance our relations in several fields, from the political and institutional through the economic and commercial to the cultural, scientific or technological.” Details of the interview follow:
Pernod Ricard Korea ‘Time Slowing Experience’ takes you to the history of Ballantine’s
Pernod Ricard Korea is announcing that it has opened a Ballantine’s brand experience space called the ‘Time Slowing Experience,’ a differentiated brand campaign that combines the art of slowing time with whisky tasting at Monaco Space near Gangnam Station from November 11 to 15. It opened a reservation site (http://www.ballantinesevent.com) for people who wish to visit this Ballantine’s brand experience. The Ballantine’s experience space Time Slowing Experience is designed to provide the busy people of today with an opportunity to experience the art of slowing down the flow of time. The space is themed around time, something highly valued by Ballantine’s since its exceptional flavors can be created only over a long span of years.
KBS (http://world.kbs.co.kr/service)
No. of Critically Ill COVID-19 Patients Nears 500
The number of critically ill COVID-19 patients climbed to near 500 amid a continued spread of the virus. Health authorities said Wednesday that as of 12 a.m. Tuesday, the number of critically ill patients came to a new high of 495, up 24 from the day before. The figure replaced the previous high of 485 tallied on Saturday. The government has said it would be able to handle up to 500 critically ill patients without strain, but the figure is likely to surpass that level soon if the current pace continues. The Korea Disease Control and Prevention Agency(KDCA) said two-thousand-125 new infections were confirmed throughout Monday, raising the country's accumulative caseload to 399-thousand-591.
Pfizer Agrees to Allow Other Companies to Make its COVID-19 Pill
Global pharmaceutical company Pfizer has reportedly allowed other manufacturers to make its experimental COVID-19 pill, possibly making the drug available to more than half of the world's population. According to the Associated Press on Tuesday, Pfizer signed a licensing agreement with the Medicines Patent Pool, a UN-baked public health organization to that effect. The deal will reportedly allow generic drug companies to produce the antiviral pill, Paxlovid, for use in 95 low-income countries, covering 53 percent of the world's population. Pfizer has reportedly agreed to forego royalties on sales in low-income countries and will waive royalties on sales in all countries covered by the agreement.
Gov't to Expand No. of Gas Stations Selling Urea Water Solution
The government plans to significantly expand the number of gas stations that sell urea water solution to one-thousand-400. Koo Yun-cheol, head of the government policy coordination office, made the remark on Tuesday during a session of the National Assembly’s National Policy Committee, saying the current 100 gas stations that sell the much-sought-after solution have been overwhelmed. Initially, the government designated 100 gas stations out of some 11-thousand as sites where drivers can purchase urea water solution provided by the government. Koo added that the government will also provide information online on how much solution is left at each gas station.
Yonhap (http://english.yonhapnews.co.kr)
Seoul's end-of-war declaration push raises questions over UNC future
South Korea's steady pursuit of declaring a formal end to the Korean War is again raising complex questions over the future of the U.N. Command (UNC), a U.S.-led entity formed during the 1950-53 conflict as part of efforts to restore peace, analysts said Wednesday. The proposed declaration may help bring about a semblance of sustainable peace -- long an elusive goal, but it could end up weakening the rationale for the command's existence, they noted. The UNC returned to the spotlight last month, as North Korean Ambassador to the U.N. Kim Song renewed calls for its abolition, accusing it of only serving America's political and military interests.
S. Korea to cut dosage interval for COVID-19 booster shots on senior citizens
South Korea will cut the dosage interval between initial vaccination and COVID-19 vaccine booster shots on senior citizens in a move to curb breakthrough infections amid the rising number of critically-ill virus patients, Prime Minister Kim Boo-kyum said Wednesday. Booster shots for people aged 60 or older and nursing hospital patients can be administered four months after their last dose, while those in their 50s can get extra jabs five months after their primary COVID-19 vaccination, Kim said at a COVID-19 response meeting. A booster shot refers to an extra dose of a vaccine given after the protection provided by the original jabs wanes over time. Currently, additional vaccine shots are given six months after people received their last dose.
DAPA unveils CG video of KF-21 jet, stealth drones in joint sortie
South Korea's military has unveiled a computer-generated video of a homegrown fighter and radar-evading drones in a joint sortie, offering a glimpse into a future battle concept mixing the manned and unmanned assets currently under development. The Defense Acquisition Program Administration (DAPA) recently posted the short video on its YouTube channel, depicting the KF-21 fighter flanked by three stealth drones in joint air operations over South Korea's easternmost islets of Dokdo. The KF-21 fighter was also seen being refueled in mid-air by a KC-330 tanker transport aircraft. It marks the first time military authorities have disclosed such a concept involving the KF-21 and stealth drones, which South Korea has been developing based mostly on homegrown technologies.
The Korea Herald (http://www.koreaherald.com)
Kim Jong-un reappears after monthlong absence, visits Samjiyon
After not being seen in public for more than a month, North Korean leader Kim Jong-un reappeared in the state media Tuesday, visiting the city of Samjiyon near the border with China, where the leader’s signature construction project is underway. The North’s Korea Central News Agency said Kim visited the northern alpine city in Ryanggang Province to inspect progress on the final and the “third stage” of the development project, which is expected to be completed by the end of this year. The visit to Samjiyon was Kim’s first public appearance reported in state media following a 35-day hiatus, ending the second-longest break since he came to power in 2011.
Moon, CEPI CEO discuss Korea’s vision for global vaccine production hub
President Moon Jae-in and Richard Hatchett, CEO of Coalition for Epidemic Preparedness Innovation, held a meeting at Cheong Wa Dae on Tuesday and exchanged views on South Korea’s pandemic preparedness and its vision for a global vaccine production hub. Moon applauded CEPI’s leadership role in facilitating investment into vaccine development and manufacturing against COVID-19, which he said greatly helped in saving people’s lives around the world. “Since joining CEPI last year, Korea is also ramping up efforts to increase vaccine production,” Moon said. “Developing our own vaccine is our national goal. Thank you again for CEPI’s support for the drive so far.”
Korea Gas Corp. aims to lead the hydrogen way
Korea Gas Corp. was born in the aftermath of the global oil crises of the 1970s, with a mission to lead a fuel transition to natural gas. Nearly four decades later, the company is being asked to step up, as South Korea plans another grand energy transition to hydrogen. “In the aftermath of the global oil crisis, Korea decided to switch its national fuel to natural gas and formed Kogas (in 1983). Since then, Kogas led the natural gas transition and experienced every step along the way,” Yang Jin-yul, the executive vice president and head of the hydrogen business division at Kogas, told the Korea Herald.
The Korea Times (http://www.koreatimes.co.kr)
More young Koreans choose to leave the nest
Park Yu-hui, 25, an office worker, lives alone in Jongno District in central Seoul. She moved out from her parents' house located in Incheon, a port city west of Seoul, to a 17-square-meter studio apartment in July as soon as she found a job. As her workplace is located in Seongdong District of Seoul, saving time on the daily commute was one of the major reasons she moved out, but it was not the only one. "Now that I have a full-time job with a stable income, I wanted to lead an independent life without receiving any financial support from my parents. I also wanted to spend my free time after work in peace in my own space," Park told The Korea Times. Getting a bank loan to finance a 120 million won ($102,000) "jeonse" deposit (home rental based on large deposits) was not an easy decision, but Park says "it was worth it."
Korean Peninsula issue neglected in titans' showdown
The highly-touted virtual summit between U.S. President Joe Biden and Chinese President Xi Jinping revealed that issues regarding the Korean Peninsula, specifically the denuclearization of North Korea, were not a priority between the two superpowers that have a large influence on the matter. Biden and Xi held the remote talks for three-and-a-half hours, which mainly featured the topics of trade, Chinese aggression toward Taiwan and human rights, leaving diplomatic observers to surmise that the North Korean issue has been put on the back burner for the time being. The White House's post-summit statement mentioned North Korea only briefly, noting the two leaders "also exchanged views on key regional challenges, including DPRK, Afghanistan, and Iran."
President Moon faces calls for 'political neutrality'
President Moon Jae-in is facing growing calls for him to display political neutrality leading up to the presidential election in March, with the opposition bloc gearing up an offensive against Moon and his ministers' membership of the ruling party. During a radio interview, Tuesday, senior presidential secretary for political affairs Lee Cheol-hee dismissed the main opposition People Power Party's (PPP) demand for the President to abandon his Democratic Party of Korea (DPK) membership. "Former presidents have left their parties (mostly in the last years of their terms) in order to prevent their policy failures from becoming a burden to them. In terms of political responsibility, it is appropriate for the President to maintain his party membership," Lee said during the interview on MBC Radio.
Chosun Ilbo (http://english.chosun.com)
Businesses Value Job Skills over Academic Background
Businesses increasingly look for practical job skills rather than a stellar academic background when they hire new staff, a study by the Korea Employment Information Service suggests. The KEIS surveyed the top 500 Korean businesses in August and September, and 47.3 percent said they look mostly for job-related skills in potential new hires, followed by work experience (16.2 percent), academic background (12.3 percent) and internship experience (7.6 percent). But the name of the university a jobseeker attended counted for a lot only among 4.9 percent, their grades for 1.6 percent and their language skills for one percent.
Hyundai, Kia Big Winners in U.S. Magazine Newsweek's Autos Awards
Hyundai and affiliate Kia have received a global image boost after winning a slew of awards from U.S. magazine Newsweek. The automakers won in seven categories, the most among global manufacturing groups in this year's Newsweek Autos Awards. Hyundai was named the Best Brand for Your Buck. The magazine said it offers "a wide variety of vehicle options in trim levels from budget-friendly to premium, along with safety and driver assistance tech and long warranties." Hyundai's Santa Cruz was selected as the Best Small Pickup Truck and Elantra (sold as Avante in Korea) the Best Small Car. Hyundai's luxury brand Genesis' GV70 won the Best Two-Row SUV and G90 was the Best Luxury Car.
LG Household Makes Dow Jones Sustainability Indices for 4th Straight Year
LG Household and Health Care has become the first Korean cosmetics company to be listed on the DJSI World, one of the Dow Jones Sustainability Indices, for four consecutive years. The company said Sunday it had also made the list for the Asia-Pacific region for 12 consecutive years, and the list for Korean companies for nine years straight. The indices evaluate the world's top 2,500 companies based on environmental, social and governance (ESG) performance, as well as business performance. This year, 322 companies were included in the DJSI World. A total of 21 Korean companies made the list, including six new entries -- Samsung Biologics, SK Telecom, Hyundai Motor, Hyundai Glovis, Hyundai Mobis and Kakao.
HanKyoReh Shinmun (http://english.hani.co.kr)
Why the US is blamed for aiding Japan's colonization of Korea
Lee Jae-myung, the Democratic Party candidate in next year’s South Korean presidential election, stirred controversy recently after commenting to visiting US Senator Jon Ossoff that the Taft-Katsura Agreement of 1905 contributed to Japan’s colonization of the Korean Peninsula. Critics have gone after Lee for blaming the US for the peninsula’s colonization by Japan, which they attribute instead to Korea’s incompetence and ignorance of the reality at the time. At a basic level, there is some truth to that. But it’s also more or less the same thing as blaming the victim of a beating by thugs for being weak. South Korean history books have taught us that the Taft-Katsura Agreement was what finally cemented Japan’s colonization of the Korean Peninsula. That’s certainly what I learned.
Money and politics: The UK’s Conservative Johnson government in the spotlight
The United Kingdom might proudly claim to be one of the oldest democracies in the world, but it still struggles with one of the oldest problems in politics — a cozy relationship between those in power and those with huge financial resources and business interests. In the public eye, the word “corruption” comes to mind, and many people are losing trust in politicians and democracy. Campaigning for political office is expensive, and with very limited access to public funding, UK political parties rely on membership fees and, especially, donations. Parties can make efforts to increase their membership for greater financial resources, and the British Labour Party has been successful in this regard in recent years. But there are limits to increasing membership. Thus, attracting donations has become an imperative in the face of the spiraling costs of political campaigning.
Getting to the root of the odd 2022 election matchup
“The Moon Jae-in administration’s biggest blunder has been to resurrect the People Power Party and turn Yoon Seok-youl into the top opposition party’s presidential candidate,” Justice Party presidential candidate Sim Sang-jung recently said. Her words offer a lot of food for thought. How should we regard the current situation, where an administration’s prosecutor general has become the primary opposition party’s candidate and is now going after that administration’s very lifeline? Where did things go wrong? The clock is ticking faster with the nearing election, which has solidified into a race between Democratic Party candidate Lee Jae-myung and People Power Party (PPP) candidate Yoon. Both sides have plenty of issues that are about to become fodder in the election battle, including various allegations and policy controversies.
The Dong-A Ilbo (http://english.donga.com/)
Lee, Yoon propose different solutions on sensitive issues
Presidential candidates Lee Jae-myung and Yoon Seok-youl proposed opposite solutions on sensitive issues, including property tax and fiscal policy response to the COVID-19 crisis. Competition between the two presidential candidates is in full swing to garner voters’ support by suggesting different policy alternatives in fields directly related to people’s lives. Ruling party candidate Lee wrote on his Facebook account on Monday that it is like being fooled by the malicious media and corrupt political forces to oppose a national land holding tax for fear of losing money when he or she is not in the top 10 percent of land owners, adding 90 percent of the people receive more than they give.
Choi Jong-kun says partnership with China is needed realistically
“China is a strategic partner and we realistically need a partnership with Beijing,“ South Korean Vice Minister of Foreign Affairs Choi Jong-kun said at a strategy forum with a topic of the relationship between South Korea and the U.S. in Washington, D.C. on Monday (local time), emphasizing the importance of the relationship between South Korea and China. Former high-ranking officials of the U.S. administration raised concerns that the ROK-U.S. alliance may weaken over time and South Korea may be overlooked in the process of U.S.’s policy-making process. In his keynote speech at the ROK-U.S. Strategic Forum co-hosted by the Center for Strategic and International Studies (CSIS), a think tank based in Washington, D.C., and the Korea Foundation (KF), Choi first highlighted the importance of the ROK-U.S.
Lee Jae-yong visits US in 5 years for semiconductors, vaccine issues
Samsung Electronics Vice Chairman Lee Jae-yong departed for a business trip the U.S. on Sunday for the first time in five years. Lee will likely conduct final review on his company’s plan to invest in a semiconductor foundry plant in the US, and discuss about expansion of Moderna’s COVID-19 vaccine production in Korea. He will also seek to strengthen his business network with leaders of major partner companies in the U.S. After a South Korea-U.S. summit in May, Samsung Electronics made official its plan to invest 17 billion U.S. dollars to construct a second foundry factory in the U.S. Samsung is considering Taylor and Austin in Texas as strong candidate sites. Insiders in the Korean business community say Lee will visit the sites in person to check before making decision.
The KyungHyangShinmun (http://english.khan.co.kr/)
Kim Jong-un Inspects the Samjiyon Development Project on Site: First Press Coverage of Public Schedule in 35 Days
North Korean leader Kim Jong-un made a public outing for the first time in over a month when he conducted a site inspection of the Samjiyon City construction project. On November 16, the Korean Central News Agency reported that Chairman Kim visited Samjiyon to inspect the progress on phase-3 construction for a timely completion of the city’s development project. According to the coverage, the North Korean leader said, “The construction of Samjiyon is the starting point of a new revolution to help rural citizens leap toward a life of civilized material culture.” He further said, “We will actively encourage and expand the excellent experiences accumulated from the construction of Samjiyon and achieve a transition that will encourage development in rural construction and the building of a civilized general society.”
Number of COVID-19 Patients in Critical Condition Nears 500: Presidents of Top-Tier General Hospitals in the Greater Seoul Area Gather for an Emergency Meeting
The number of COVID-19 patients with serious or critical symptoms has reached another record-breaking high close to 500. The government held an emergency meeting of the presidents of 22 top-tier general hospitals in the Seoul metropolitan area and discussed measures to quickly secure hospital beds. The Central Disease Control Headquarters announced that as of midnight this day, they have confirmed 2,125 new cases of COVID-19 from the previous day. Among them, 2,110 contracted the virus in the local community, while 15 entered from overseas. A regional analysis showed that 76.9% (1,623) of the cases occurred in the greater Seoul area with 839 cases in Seoul, 653 in Gyeonggi and 131 in Incheon. Authorities also confirmed 86 cases in Busan, 38 in Daegu, 11 in Gwangju, 35 in Daejeon, 9 in Ulsan, 6 in Sejong, 51 in Gangwon, 28 in Chungcheongbuk-do, 42 in Chungcheongnam-do, 55 in Jeollabuk-do, 29 in Jeollanam-do, 9 in Gyeongsangbuk-do, 45 in Gyeongsangnam-do, and 43 in Jeju.
South Korea Has the Most Household Debt among 37 Countries, and It’s Growing at the Fastest Rate
Among forty major countries in the world (with Europe as a single bloc) based on the size of the national economy, South Korea had the most household debt, which also increased at the fastest rate following the COVID-19 outbreak. Meanwhile, government debt was ranked near the bottom of the list. According to the Global Debt Monitor by the Institute of International Finance (IIF) on November 15, household debt against the gross domestic product (GDP) in the second quarter this year was 104.2% in South Korea, the highest among 37 countries. South Korea was the only country where the size of household debt exceeded the size of the national economy (GDP) among the countries included in the latest survey.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korean Air, Asiana flying strong on cargo demand, M&A nod, LCCs deeper in the red
South Korea’s two full-service carriers survived the third-quarter headwinds of still-suspended passenger travel and higher fuel cost through lucrative cargo deliveries and are on smooth path of integration through M&A blessings from Asian destinations, while budget carriers are hanging tough through capital fueling from their shareholders. Korean Air Lines Co. on Tuesday disclosed a non-consolidated operating profit of 438.6 billion won ($371.34 million) on revenue of 2.2 trillion won, while its smaller peer Asiana Airlines Inc. posted an operating profit of 160.3 billion won on revenue of 1 trillion won.
Currency crimes by Koreans surge, a third suspected to be related to crypto
Currency crimes have surged this year, largely due to cross-border arbitrage trade in cryptocurrencies, the Korean authorities have found. The Korean financial authorities said Monday that the number of fines issued for violating the country’s Foreign Exchange Transactions Act hit 603 so far this year, sharply up from last year’s full count of 486. The local FX transaction law requires a person prove the purpose of international money transaction for the amount exceeding $5,000 per single remittance and $50,000 per year. Penalty is issued when wired money is spent for other reasons than the stated purpose.
Samsung Elec may be titling toward Taylor for $17 bn foundry location
Samsung Electronics Co. withdrew its request for tax incentive for facility investment from a district in Texas connected to a location near the company’s existing chip facility in North Austin, raising speculation that the chipmaker may be favoring another candidate Taylor to base its new $17 billion foundry. The South Korean technology giant has withdrawn its tax incentive application filed with the Texas state comptroller for building a chip foundry in Austin, according to the state authority’s website and press reports. Its application for a tax break from Taylor still remains valid. The Korean chip giant has been weighing Austin and Taylor, a town 40 kilometers northeast from the company’s existing chip factory in Austin, Texas, as the site for a $17 billion foundry project.
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
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Heraldwww.smh.com.au
Colombia Reports http://colombiareports.com
Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com
El Universal http://www.eluniversal.com.mx/english
Andes http://www.andes.info.ec/en
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
LSM.lv http://www.lsm.lv/en
The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais http://elpais.com/elpais/inenglish.html
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
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