Wednesday, November 24, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
“Bangladesh Armed Forces have become a brand name in international peacekeeping”
Ambassador Delwar Hossain of the People’s Republic of Bangladesh in Seoul said, “Bangladesh Armed Forces have become a brand name in international peacekeeping and it is contributing to global peace by actively participating in UN peacekeeping and peace support initiatives all over the world.” Speaking at a reception hosted by the Embassy of Bangladesh in Korea at the Mondrian Seoul Itaewon Hotel in Dongbingo-dong, Seoul in celebration of the 50th Bangladesh Armed Forces Day on Nov. 21, 2021, Ambassador Hossain then added that to date Bangladesh has deployed more than 0.15 million of its peacekeepers in 54 missions spread across 40 different countries and that Bangladesh is the first country to send all women peacekeeping contingent to Haiti in 2013. (See details of the speech at toward the end of this report.)
“Bangladesh, Korea have great potential for deeper mutually beneficial collaboration”
The following article is based on an interview with newly accredited Ambassador M. Delwar Hossain of the People’s Republic of Bangladesh to the Republic of Korea for publication by The Korea Post media, publisher of 3 English and 2 Korean news publications since 1985.—Ed. The year of 2021 is a special moment for Bangladesh. This year, the nation is celebrating the 50th anniversary of the independence and also in the midst of celebration of the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. The year also marks the official endorsement of the graduation of Bangladesh from the status of a Least Development Country to a developing one, as the country fulfilled all three eligibility criteria of the United Nations by substantial margins for the second time.
Cooperation, accountability of prosecutor’s office to parliament in Uzbekistan
The rule of law is ensured in a democratic society through a fair, impartial and effective administration of justice. This type of administration of justice requires independent and impartial judges and prosecutors who ensure the preservation of individual rights and freedoms as well as the maintenance of public order. Regardless of how different prosecutors’ systems are in different countries, they all have one element in common. Prosecutors must make decisions independently and carry out their responsibilities free of outside pressure or intervention, while adhering to the principles of separation of powers and accountability. As the President of the Republic of Uzbekistan Sh.M. Mirziyoyev rightly noted: “Our people can endure any difficulties, but they will not tolerate injustice”. In this regard, the essence of the mission for prosecutors is to ensure social justice and the rule of law.
KBS (http://world.kbs.co.kr/service)
Samsung Scion Calls on Employees to Pioneer Future
Samsung Group's de-facto leader Lee Jae-yong has called on employees to strive for a new Samsung. According to the firm, Vice Chairman Lee visited Samsung Electronics’ research and development facilities in Silicon Valley this week as a part of a U.S. tour of about ten days. Lee reportedly challenged researchers there, saying the approach of catching up or extending the lead against competitors will not be enough for the group to make its way through what he called a great era of transition. Recognizing the difficulties, he asked them turn the impossible into possibility and pioneer a future that no one has ever been to. Samsung said Lee also met with Google CEO Sundar Pichai and Microsoft CEO Satya Nadella to discuss future cooperation in semiconductors, software and other areas.
Healthcare System Faces Substantial Increase in Critical COVID-19 Cases
Amid an increase in daily COVID-19 cases under the living with COVID-19 system, the portion of new critical cases is also rising sharply, putting further strain on healthcare workers. According to the Korea Disease Control and Prevention Agency(KDCA) on Wednesday, two-point-05 percent of new COVID-19 patients in South Korea progressed to severe conditions in October, up from one-point-53 percent in September. The figure is expected to hover above two-point-36 percent this month. The ratio is one of the criteria the government said it took into account in deciding to launch the phased return to normalcy early this month. However, it has grown around one-point-five times since then, meaning health authorities need to deal with one-point-five times more severe cases than before even if the number of new daily cases is the same.
Healthcare System Faces Substantial Increase in Critical COVID-19 Cases
Amid an increase in daily COVID-19 cases under the living with COVID-19 system, the portion of new critical cases is also rising sharply, putting further strain on healthcare workers. According to the Korea Disease Control and Prevention Agency(KDCA) on Wednesday, two-point-05 percent of new COVID-19 patients in South Korea progressed to severe conditions in October, up from one-point-53 percent in September. The figure is expected to hover above two-point-36 percent this month. The ratio is one of the criteria the government said it took into account in deciding to launch the phased return to normalcy early this month. However, it has grown around one-point-five times since then, meaning health authorities need to deal with one-point-five times more severe cases than before even if the number of new daily cases is the same.
Yonhap (http://english.yonhapnews.co.kr)
Former President Chun Doo-hwan dies at 90
Former President Chun Doo-hwan, a general-turned-strongman widely criticized for seizing power through a 1979 military coup and ruthlessly quelling a pro-democracy civil uprising in the southwestern city of Gwangju the following year, died Tuesday at the age of 90. Chun died at his home in western Seoul around 8:40 a.m. after battling blood cancer and chronic ailments, aides said. Chun's last wish was that his remains be buried "on a frontline high ground overlooking North Korean territory," Min Jeong-ki, a former presidential secretary and aide to Chun, told reporters outside the residence, adding his body will be cremated before being buried at a site to be determined later.
U.S. seeks closer ties with S. Korea for resilient supply chains: key diplomat
The U.S. State Department official in charge of East Asian and Pacific affairs on Friday emphasized the need for closer cooperation between Washington and Seoul to ensure the resilience of major global supply chains and to protect critical technologies from excessive dependence on a single country. Assistant Secretary Daniel Kritenbrink said the issue was discussed in a string of meetings he held with senior South Korean officials here, which he described as a "productive" exchange. "One of the issues that we did discuss was related to economic security," he said in an exclusive interview with Yonhap News Agency at the U.S. ambassador's residence in Seoul.
S. Korea holds event to commemorate 1954 Dokdo battle
South Korea held an annual ceremony Friday to commemorate a successful 1954 operation by the country's volunteer fighters to defend the easternmost islets of Dokdo against intruding Japanese ships, the veterans affairs ministry said. A civilian foundation honoring the group of 33 fighters hosted the event at a national cemetery in Daejeon, 160 kilometers south of Seoul, amid a renewed spat between Seoul and Tokyo over the East Sea outcroppings. Territorial tensions flared anew as a senior Japanese diplomat boycotted a joint press event involving his South Korean and U.S. counterparts in Washington on Wednesday in protest over the recent visit to Dokdo by a top South Korean police officer.
The Korea Herald (http://www.koreaherald.com)
Korea, Costa Rica raise bilateral relations into ‘action-oriented’
South Korea and Costa Rica will upgrade relations and boost their partnership in various fields, the two sides revealed after a summit between President Moon Jae-in and Costa Rican President Carlos Alvarado Quesada in Seoul on Tuesday. At the summit, the two leaders agreed to develop bilateral relations into an “action-oriented comprehensive partnership” from the current comprehensive partnership and adopted a joint declaration to promote collaboration. “Next year is a special year for the 60th anniversary of diplomatic relations between the two countries. The two have cooperated in various fields based on common values such as democracy, human rights and peace,” Moon said.
Ruling party presidential candidate promises ‘digital transition’
Ruling Democratic Party presidential candidate Lee Jae-myung on Tuesday pledged to create more than 2 million jobs through the country’s “digital transition.” Lee, a former Gyeonggi Province governor, announced his plans for the digital transition at the party’s headquarters in Yeouido, Seoul. Although Lee had shared election pledges on social media on multiple occasions, it was his first official announcement through his election campaign committee. “As technology develops, the importance of human labor in production can only decline. We have to find more jobs in new domains,” Lee said.
Chun Doo-hwan dies at 90
Chun Doo-hwan, who was president of South Korea from 1980 to 1988 after seizing power in a military coup and whose reign was marked by the brutal repression of pro-democracy protesters in Gwangju in 1980, died Tuesday. He was 90 years old. He died less than a month after Roh Tae-woo, one of his closest aides in the 1979 coup, who was elected president after democracy protests forced Chun to stand down. Chun, who had multiple myeloma, a type of blood cancer, died at 8:40 a.m. at his home in Yeonhui-dong, Seodaemun-gu, Seoul.
The Korea Times (http://www.koreatimes.co.kr)
Samsung picks Taylor, Texas, as site of new $17 billion chip plant
Samsung Electronics said Wednesday it has selected the city of Taylor in Texas as the site of its new $17 billion chip fabrication plant, a move to boost production amid a global chip shortage. The decision came five months after the tech giant announced a plan to build a second, next-generation chip plant in the United States, and as the chip supply crunch caused global automobile and consumer electronics companies to slash their production. "We have completed the consultations with the city of Taylor in the United States in relation to the new foundry line investment," Samsung Electronics said in a regulatory
Costa Rican president hopes to boost cooperation in green economy
Carlos Alvarado Quesada, president of Costa Rica, a leading country on climate issues in Latin America, said he admires Korea for its history, capability for growth and for having created wellbeing for its people in past decades. Last year, when addressing his country's Legislative Assembly, Alvarado said that Costa Rica should aspire to become the "South Korea of Latin America." "I want to picture the positive ambition of what Costa Rica needs to become in the years to come. This year, Costa Rica became a part of the OECD, such as South Korea. We have similar values, such as innovation, technology, human rights, democracy and also sustainability," Alvarado said during an interview with The Korea Times at a hotel in Seoul, Tuesday, during his four-day visit here.
Financial regulators inspect Celltrion for alleged accounting fraud
The Financial Services Commission (FSC) is now looking at the results of a nearly three-year investigation by the Financial Supervisory Service (FSS) into alleged accounting fraud by Celltrion. The FSS began investigating the biopharmaceutical company in 2019 after three-term ruling Democratic Party of Korea (DPK) lawmaker Lee Hack-young alleged, during a National Assembly annual audit in October 2018, that it had been cooking its books. As the probe has now been completed, the FSS handed its findings to the FSC, the country's top financial policy regulator and its supervisory agency, for further deliberation. Although there is a possibility that the FSC may overturn the FSS's inspection results, investors thought this unlikely and went on a selling spree. As a result, the share prices of Celltrion, Celltrion Healthcare and Celltrion Pharm all plunged during Tuesday's trading ― logging falls of 6 percent, 5.58 percent and 5.9 percent, respectively.
Chosun Ilbo (http://english.chosun.com)
Hospitals Struggle to Balance COVID and Other Patients
Hospitals are struggling to balance the needs of seriously ill coronavirus patients with those of other critically ill people in their ICUs. According to analysis by Kim Beom-suk at Seoul National University Hospital, the number cancer patients who died in the emergency room increased by a whopping 86 percent from 53 in 2019 to 99 last year. The reason was presumably that all resources were being concentrated on the fight against COVID-19 while other fatal diseases were relatively neglected.
Do Presidential Candidates Care About Economic Security?
A national discussion on economic security for Korea is long overdue and must begin with July 2016, after North Korea's fourth nuclear test, when the Park Geun-hye government announced that South Korea would allow the U.S. to station a Terminal High-Altitude Area Defense battery as a defensive measure against North Korea. Less than an hour after this announcement, the Chinese Foreign Ministry protested, and in the month following this, Beijing issued 27 statements and its state newspapers ran over 250 articles critical of South Korea. As many South Koreans will not easily forget, the Xi Jinping government followed this criticism with a coordinated 1.5-year boycott of South Korean music, TV, and tourism, and launched a campaign against Lotte in China that cost the company over $2 billion in losses. For many younger South Koreans, this was a defining moment in their perception of China, with polls today now showing China as more disliked than Japan.
Daegu to Host World Gas Conference Next Year
The city of Daegu is gearing up to host the World Gas Conference in May next year which it hopes to position itself on the international map as an energy hub. The WGC has 90 years of history and is the world's largest and most important gas industry event. Korea lost two bids to host it in Seoul in 2002 and in Busan in 2011 but finally clinched the WGC for Daegu in 2014. From May 23-27, the city welcomes some 12,000 visitors from 350 companies in more than 90 countries. Numbers could grow as COVID travel restrictions are scrapped. Over 80 percent of exhibition spaces have already sold out. Top energy companies like Chevron, ExxonMobil, Gazprom, Qatargas, Cheniere Energy are signed up to take part and will discuss topics like supply-chain issues that have driven energy prices sky-high.
HanKyoReh Shinmun (http://english.hani.co.kr)
Former S. Korean dictator Chun Doo-hwan dies unapologetic and unrepentant
Chun Doo-hwan, a figure responsible for orchestrating a military dictatorship and civilian massacre in the grim South Korean climate of the 1980s, died Tuesday. Even in the face of historical scars left unhealed for decades, he showed no sign of apology or repentance to the very end. KMA graduate wins Park Chung-hee’s trust, joins “Hanahoe” military group. A native of Yulgok, a township in Hapcheon County, South Gyeongsang Province, Chun Doo-hwan graduated from Daegu Technical High School and entered the Korea Military Academy (KMA) in 1951. Graduating from the KMA in 1955, he began his military career as a platoon leader with the ROK Army’s 25th Infantry Division.
Moon says return to normalcy won't be stopped over increase in COVID-19 cases
South Korean President Moon Jae-in said during a town hall on Sunday that he “trusts the Cabinet’s decision” regarding emergency disaster relief payments and that “support will be prioritized for those who have been most affected.” This means that the government will focus aid on small business owners and other groups that have been highly affected by the pandemic, rather than more universal relief funds for the public. Moon also said the government plans to bring COVID-19 pills into the country “by next February at the latest” and “will work to accelerate that timeframe.” Moon said he thought the emergency relief should be paid selectively to impacted groups during a town hall meeting that was broadcast on KBS on Sunday evening.
Weekly COVID-19 deaths in S. Korea surpass those during peak of 3rd wave
South Korea’s weekly COVID-19 death total was 171 — a number higher than during the pandemic’s third wave, statistics show. The burden on the greater Seoul area’s healthcare system has also been growing, with an all-time high of more than 800 patients in Seoul, Incheon, and Gyeonggi Province who had been waiting for hospital beds for over a day as of Sunday. According to figures released by the Central Disease Control Headquarters (CDCH) on Sunday, the number of daily deaths stood at 30 as of the end of the day Saturday. Over the seven-day period between Nov. 15 and 21, the number of daily deaths from COVID-19 exhibited an upward trend, with tallies for each day recorded as 12, 22, 21, 29, 28, 29, and 30, respectively.
The Dong-A Ilbo (http://english.donga.com/)
Burden from comprehensive real estate tax spreads to non-capital areas
Among taxpayers who are subject to comprehensive real estate tax this year, the proportion of people living in Seoul and metropolitan areas is the lowest since statistics began to be compiled in 2010. The burden from the comprehensive real estate tax is spreading to non-capital areas, with the increase in the comprehensive real estate tax rate soaring more than 700 percent compared to the previous year. According to the data released by the National Tax Service on Tuesday, about 480,000 homeowners in Seoul faced a combined 2.8 trillion won in comprehensive real estate taxes this year.
Chun cannot bury the truth of Gwangju massacre, say civil groups
Several organizations including the May 18 Memorial Foundation, the May 18 Democratic Uprising Men of Merit, the Group of Wounded Protestors of the May 18 Democratic Uprising, and the Organization of the May 18 Arrested and Wounded Demonstrators held a press meeting and said as such. “Chun shamelessly denied his culpability for the May 18 massacre by putting forward pathetic excuses,” stated the organizations. “Chun lived a disgusting life by insulting and degrading the heroic spirits of the May 18 Democratic Uprising,” they said. “The people of Gwangju have consistently urged Chun to confess and sincerely regret his crime,” they added. These organizations showed remorse, saying, “We wanted justice and historical trials of his sins of violating the Constitution of the Republic of Korea and slaughtering innocent civilians through a libel trial against Chun for defaming a late priest Cho Bi-oh.
Samsung’s Lee Jae-yong visits the US
Vice chairman Lee Jae-yong of Samsung Electronics has visited the White House and Capitol Hill during his one-week trip to the U.S. to discuss investment and global supply chain issues. The company’s new foundry investment of 20 trillion won will also be announced this week. According to Samsung Electronics on Sunday, Lee met with leading U.S. politicians in Washington, D.C. on Thursday and Friday (local time) after leaving for the U.S. last Sunday. Earlier, he also met with executives of Moderna and Verizon. On November 18, Lee met with members of the U.S. Congress responsible for laws on supporting semiconductor investment to request support to pass related laws.
The KyungHyangShinmun (http://english.khan.co.kr/)
Chun Doo-hwan Dies at 90
Former President Chun Doo-hwan died on November 23, less than a month after the death of former President Roh Tae-woo, who joined him in the December 12 coup d’etat. His former secretary Jeon Gwang-pil conveyed that the former president died at around 8:45 this morning in his home in Seodaemun-gu, Seoul in a phone conversation with the Kyunghyang Shinmun reporter this day. Chun’s body will be moved to the Yonsei University Severance Hospital in Seoul.
Chun was born in Hapcheon-gun, Gyeongsangnam-do on January 23, 1931. He walked the path of a soldier after he graduated in the eleventh class of the Korea Military Academy in 1955. When former President Park Chung-hee was assassinated on October 26, 1979, Chun became the head of the joint investigation headquarters that oversaw the case at the time. Chun then came into power with the coup d’etat on December 12.
A Thousand Bank Branches Disappeared in Six Years: “We Need Measures for the Financially Isolated”
A thousand bank branches in South Korea have disappeared in six years, and experts point out the need for banks to operate joint offices for the financially isolated, such as the elderly, and to create a user-friendly interface. According to the National Assembly Research Service report, “Tasks to Protect the Financially Isolated and to Respond to a Decline in Bank Branches” on November 23, the number of bank branches dropped from 7,281 at the end of 2015 to 6,326 in the first half of this year. The number is scheduled to drop further to 6,183 in the second half of the year according to plan. A closer look at the banks showed that the number of commercial banks would drop by 934 to 3,380 by the second half of this year from the 4,314 branches at the end of 2015.
Record-breaking Number of Young NEETs due to COVID-19: One in Ten Have Given up on Employment Including Many Women
Amidst the economic shock due to COVID-19 last year, the nation saw a record-breaking number of young people who are “Not in Education, Employment, or Training” (NEET). A recent survey showed that one in ten young people did not even try to find employment. Unlike the government’s analysis showing that employment is on the rebound, this year the increase in the number of young NEETs is expected to be bigger, pushing the total up from last year. Experts are calling for policies for young people, since it gets harder to find jobs the longer the period out of employment, and since wages could be lower even if they do find employment. According to the “Study on the Impact of COVID-19 on Young NEETs” published in a collection of research papers by the Korea Labor and Income Panel Study on November 21, the number of people who were not in education, employment or training (NEET) or engaging in domestic labor among single people ages 15-34 reached 1,723,000. This was 145,000 more than the previous year (1,578,000).
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Seoul extends sales tax incentive for cars, packages small biz relief fund with extra tax
South Korea will extend the 30 percent exemption in sales tax for car purchases for another six months and employ some of the excess tax revenue to expedite additional $10.7 billion relief for self-employed and virus-hit sectors. Hong Nam-ki, finance minister and deputy prime minister chairing an economic emergency meeting on Tuesday said that the government will grant individual consumption tax cut on passenger car purchases due to expire this month until June next year, according to a press release from the Ministry of Finance and Economy.
Unremorseful ex-president Chun Doo-hwan dies at 90
South Korea’s fifth president in service from 1980 to 1988 and the last reminder of the country’s lengthy military regime Chun Doo-hwan died Tuesday, without repenting for the brutality committed against pro-democracy protests and Gwangju massacre and paying heavy state fines for a number of grave crimes from treason to bribery. He was 90. The strongman trails in crossing the river of death his 1979 military coup accomplice and long-time friend Roh Tae-woo who succeeded him in presidency through the first direct election via a constitutional reform Chun conceded at the height of democracy movement in 1987. Roh died on Oct. 26.
Korea’s household debt at fresh peak in Q3 on housing demand
Household debt in South Korea hit a fresh record high as of September despite loan regulations and higher lending rates on surging housing and rent prices. According to the data released by the Bank of Korea on Tuesday, the outstanding balance of household credit loans stood at 1,844.9 trillion won ($1.55 billion), the highest since the data began to be compiled in 2003. Household loans from July to September increased 2 percent or 36.7 trillion won from the end of June. The growth slowed down from the quarterly gain in the previous three months, but was similar to the gain in the first quarter.
Against a year ago, household credit grew by 9.7 percent or 163.1 trillion won.
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