Thursday, December 2, 2021

 

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

 

The Korea Post ( www.koreapost.com )

ECO has turned into a large regional structure with huge economic potential”

On November 28, President of the Republic of Uzbekistan Shavkat Mirziyoyev took part in the Fifteenth Summit of the Economic Cooperation Organization (ECO), in Ashgabat. Issues of further enhancing the multilateral partnership aimed at strengthening the ECO as a dynamic organization, deepening cooperation between its member states in trade, transport-communication connectivity,  industrial cooperation, green energy and tourism were the main topics of the meeting’s agenda. The President of Uzbekistan congratulated Turkmenistan on the successful chairmanship of the organization and noted the importance of the adoption of the UN General Assembly Resolution on Cooperation between the UN and ECO in September this year.

 

Exchange of visits by Heads of State greatly contribute to furthering bilateral ties”

Economic & Commercial Counsellor Dario Jose Saez Mendez at the Embassy of the Kingdom Spain in Seoul said that Spain takes great interest in the promotion of relations, cooperation and friendship with Koreain the economic, commercial and many other fields. Speaking at a recent interview with The Korea Post media at his office in Seoul, Counsellor Darío Sáez said that amidst the growing ties of bilateral cooperation there was a visit by H.M. King Felipe VI of Spain toKorea on Oct. 23, 2019. Then in return, he said, President Moon Jae-in visited Spain at the invitation of H.M. King Felipe VI on June 15 this year.

 

 

SK On develops battery diagnosis tech for electric vehicle drivers to self-check

SK On has started a battery diagnosis service based on the development of a technology that allows drivers to self-check the battery status of their electric vehicles (EVs), the company said on Nov. 26.

The battery diagnosis service measures the changes in battery in every use setting in which the EV operates and charges. The collected data is examined using SK On’ self-developed “BaaS AI” (Battery as a Service Artificial Intelligence). It informs users of the battery’s longevity, abnormalities, driving habits, risky situations, driving habits that will help extend the battery’s lifespan, and so on.

 

                                                                                                             

KBS (http://world.kbs.co.kr/service)

S. Korea Reports First Cases of Omicron

South Korea has reported its first cases of the omicron variant of the coronavirus amid a spike in COVID-19 cases. According to health authorities, the first cases were confirmed in five people on Wednesday, including a couple and their friend in their 40s. The couple visited Nigeria from November 14 through 23 and returned on November 24 and tested positive for COVID-19 the next day. As both were fully vaccinated, they were reportedly exempted from mandatory quarantine after returning from the trip. The couple's teenage son also tested positive to COVID-19, his omicron test results are pending.

 

Lee to Seek Consensus on Land Taxation, Yoon Campaigns in Chungcheong

Ruling Democratic Party(DP) presidential candidate Lee Jae-myung says he will seek public consensus over his pledge for land ownership taxation, while the main opposition People Power Party(PPP) candidate Yoon Seok-yeol continues campaigning in the central Chungcheong region. Speaking to a local media outlet on Wednesday, Lee said he will eliminate the pledge should it be met by more opposition after a public debate, adding that any policy that burdens the public can't be adopted without a consensus. The candidate also promised universal accident and sickness benefits to allow people to rest during recovery. On the third day of touring the Chungcheong region, PPP's Yoon met with university students to listen to their concerns regarding jobs.


S. Korea to Impose 10-Day Quarantine on All Int'l Arrivals

The government imposed a mandatory ten-day quarantine on all international arrivals including South Korean nationals for the next two weeks. Health authorities made the decision on Wednesday after a meeting of related ministries confirmed the country's first cases of the omicron coronavirus variant. Under the measure, all international arrivals will be placed under a ten-day quarantine for two weeks from Friday, regardless of their nationalities and vaccination status. South Korean nationals and foreigners visiting for long-term stays will be put into self-isolation at their residency, with the PCR test required before and after entry and before being released from quarantine.


                                                                                                                

 

Yonhap (http://english.yonhapnews.co.kr)

S. Korea reports 1st cases of omicron variant

South Korea confirmed its first cases of omicron variant infection on Wednesday, adding to concerns the new virus strain could exacerbate the pandemic as the country grapples with a spike in the caseload and number of critically ill patients. A married couple living in Incheon, west of Seoul, and their friend -- all in their 40s -- have tested positive for the omicron variant in genetic sequencing tests, the Korea Disease Control and Prevention Agency (KDCA) said. Two other people have also tested positive, the KDCA later added, putting the total confirmed at five. At least one more suspected case was being tested for the variant. Health officials also conducted the test on the couple's teenage son, and the result will be announced later this week, the KDCA said.

 

N. Korea to hold key party meeting as leader Kim set to mark 10 years in power

North Korean leader Kim Jong-un has presided over a politburo session of the ruling party and decided to convene a key party meeting later this month, Pyongyang's state media reported Thursday.

During the meeting held the previous day, Kim called 2021 a year of "victory" for "the stable management of the state economy and big successes made in the agricultural and construction sectors," and decided to discuss plans for the new year at the plenary session, according to the Korean Central News Agency (KCNA). "The 4th Plenary Meeting of the 8th Central Committee of the Workers' Party of Korea is to be convened in the last third of December to review the implementation of major Party and the state policies for 2021 and to discuss and decide on work plans for new year," the KCNA said.

 

S. Korea changes U.N. peacekeeping forum to virtual sessions on omicron concerns

South Korea has decided to host a major U.N. peacekeeping conference via video link next week in place of an initially planned face-to-face session, due to concerns over the spread of the omicron coronavirus variant, the foreign ministry said Wednesday. The 2021 Seoul U.N. Peacekeeping Ministerial will be held in the form of a "full-fledged online conference" on the planned dates of Dec. 7-8 after consultations with the U.N. office and other participating nations, the ministry said. "The government reviewed the international conference as soon as the outbreak of the omicron variant occurred, considering the global spread of omicron virus cases and its impact on health and safety of our people," it said in a release.

 

                                                                                    

 

The Korea Herald (http://www.koreaherald.com)

US JCS chief reaffirms defense, extended deterrence commitments for S. Korea 

The US chairman of the Joint Chiefs of Staff on Wednesday reaffirmed Washington’s commitment to defending South Korea and providing extended nuclear deterrence at an annual top-level military meeting. South Korea’s JCS Chairman Gen. Won In-choul and his US counterpart Gen. Mark Milley held the 46th Military Committee Meeting the same morning in Seoul, according to the JCS of each country. At the meeting, both sides reaffirmed the “enduring alliance” and shared the view that Seoul and Washington have made “significant advancements” to strengthen bilateral cooperation.

 

Samsung, Ministry of SMEs team up to support smaller tech firms

Samsung Electronics and the Ministry of SMEs and Startups on Wednesday signed a memorandum of understanding to set up a 30 billion won ($25.4 million) fund supporting smaller tech firms here. Samsung and the ministry are contributing 15 billion won each with the aim of supporting research work for locally-developed materials, parts and equipment for the next five years between 2022 and 2026. In order to respond to changes in this new normal era, innovation should occur not at a company but in the whole supply chain,” said Samsung Electronics President and CEO Kim Hyun-suk.

 

South Korea finds first cases of omicron

South Korea has discovered its first cases of COVID-19’s omicron variant, the Korea Disease Control and Prevention Agency said Wednesday evening. The first cases of the omicron variant were confirmed in a couple in their 40s who recently traveled to Nigeria and a man in his 30s whom they met after returning. The couple returned to Korea on Nov. 24 after staying in Nigeria from Nov. 14 through 23. Their PCR tests, taken on the day of their arrival, came back positive the next day. As both were fully vaccinated, they were exempted from post-travel quarantine and had at least a day to roam freely in Incheon, where they live. The couple’s teenage son also tested positive since. His omicron test results are still pending.

 

                                                                                    

 

The Korea Times (http://www.koreatimes.co.kr)

Ruling party desperately appeals to voters ahead of presidential election

The ruling Democratic Party of Korea (DPK) said Tuesday that it is considering temporarily lowering capital gains taxes on owners of multiple homes, in the latest attempt to appeal to voters ahead of the presidential election next year. A day earlier, the DPK agreed to a one-year delay in the imposition of taxation on gains from cryptocurrency trading. The clear shift in stance indicates the degree to which the ruling party is willing to renege on the once-railroaded policy platform, a sad reality of extreme voter cynicism brought on and amplified by real estate policy failures by the Moon Jae-in administration.

 

POSCO shares rise on hopes of spinoff plan

POSCO's stock price surged to 277,000 won, Wednesday, up 6.13 percent compared to the previous close, after investors bet on the possibility of the steelmaker being spun off to set up a holding company in charge of managing eco-friendly businesses related to hydrogen fuel cells, advanced materials and renewable energy. The nation's sixth-largest company in terms of assets said the specifics of its governance reform remain uncertain. The steel giant was reported to have organized a task force recently to win support for its spinoff plan from its board members during the forthcoming Dec. 10 meeting, and from its shareholders, including the National Pension Service (NPS), which holds a 10-percent stake, and BlackRock, which holds a 5-percent stake, during the extraordinary general meeting of shareholders in January.

 

Will China play role in end-of-war declaration?

The scheduled visit to China by President Moon Jae-in's top security advisor is widely believed to be seeking Beijing's support and cooperation for the President's proposal of declaring an official end to the Korean War. However, experts say it remains to be seen how actively China will work on the issue, given the complex geopolitical situation. Cheong Wa Dae said, Wednesday, that National Security Advisor Suh Hoon will visit Tianjin from Thursday to Friday for talks with his Chinese counterparts, at the invitation of the Chinese Communist Party's head of foreign affairs, Yang Jiechi. The presidential office said that Suh's trip will be a reciprocal visit for Yang's visit to Busan in August last year, and the two will discuss, "South Korea-China relations, Korean Peninsula issues, regional and international affairs and other topics of mutual interests."

 

                                                                                                               

 

Chosun Ilbo (http://english.chosun.com)
8 out of 10 Deaths Related to Chronic Diseases

Eight out of every 10 deaths in Korea are caused by chronic illnesses such as cancer, heart disease and cardiovascular ailments, according to a recent report by the Korea Disease Control and Prevention Agency. Chronic illnesses accounted for 79.9 percent of fatalities in 2019, but infectious diseases for only 11 percent and injury and other causes for 9.1 percent. Cancer killed 27.5 percent, followed by cardiovascular illnesses (10.5 percent), cerebrovascular diseases (7.3 percent), Alzheimer's (2.3 percent), liver diseases (2.2 percent), chronic obstructive pulmonary disease (2.1 percent) and hypertension (1.9 percent).
 

Kakao Overtakes LG, Hyundai to Rank 3rd in Market Cap
Online juggernaut Kakao has overtaken established conglomerates LG and Hyundai to rank third in terms of total market capitalization on the Korean stock market. According to the Korea Exchange on Tuesday, Kakao's total market cap stood at W127.9 trillion as of Monday (US$1=W1,190). LG's was W124.8 trillion and Hyundai's W121.3 trillion. Kakao owns five listed subsidiaries while LG has 14 and Hyundai 12. Samsung is still by far the biggest with W630.5 trillion, followed by SK with W195.9 trillion. Kakao's market cap fell to W122.2 trillion on Tuesday as stock prices plummeted across the board over the Omicron panic but still remained in the No. 3 spot. Kakao Pay's stock price has risen particularly steeply this year. The online payment subsidiary's stock price stood at W238,500 on Monday, up 165 percent compared to its subscription price. It received a huge boost after being included in the KOSPI 200 Index recently and now ranks 12th in terms of market cap. Kakao Bank ranks 10th.


Genesis Unveils Revamped G90 Sedan
Genesis on Tuesday unveiled a fully revamped G90 sedan, which was launched in 2018 as a face-lifted version of the EQ 900. The new G90 features the signature two-line headlights and the front grille has become more sportily curvaceous. The automaker hopes to appeal to a younger demographic in their 30s and 40s with the design changes and recover lost market share in the high-end large sedan segment now dominated by Mercedes-Benz. The G90 used to lead the segment in Korea but was overtaken by the Mercedes-Benz S Class this year. Despite its hefty price tag of some W200 million, a total of 7,755 S Class sedans were sold in Korea in the first 10 months of this year (US$1=W1,190)

                                                                                                

HanKyoReh Shinmun (http://english.hani.co.kr)
S. Korea, China adopt report on economic cooperation through 2025

South Korea and China adopted a report Tuesday on a joint plan for economic cooperation that includes an outline for future cooperation between the two countries. In a press release that day, the South Korean Ministry of Foreign Affairs (MOFA) said, “The 25th meeting of the Korea-China Joint Economic Committee took place in a virtual format between Seoul and Beijing on November 30, with Second Vice Minister of Foreign Affairs Choi Jong-moon and Chinese Vice Minister of Commerce Ren Hongbin leading their respective delegations.” According to MOFA, the report adopted in the latest meeting was drafted in accordance with an agreement reached at the 23rd joint committee meeting in 2019 and is based on research conducted by research organizations on both sides.

 

Will the Beijing Olympics be Tokyo all over again?
The Omicron variant of the coronavirus, Two months ahead of their scheduled opening, the 2022 Winter Olympics in Beijing are already running into a series of setbacks. With the US and UK having successively hinted at the possibility of a diplomatic boycott of the games, uncertainties have been compounded with the emergence of the new Omicron variant of COVID-19. Fears have intensified with the discovery that the Omicron variant has already reached Hong Kong, with cases of breakthrough infections among vaccinated people. Ahead of the Winter Olympics’ opening, some are raising the possibility that it could end up following the precedent of this year’s Summer Olympics in Tokyo, which were held without spectators amid the spread of the virus’ Delta variant.

 

Lee and Yoon tied at 35.5% in newest poll

Polls published by all three of Korea’s terrestrial broadcasters on Monday show that People Power Party candidate Yoon Seok-yeol and Democratic Party candidate Lee Jae-myung are running a close race for president, within the margin of error. When Hankook Research surveyed 1,000 Koreans on Friday through Sunday at the request of KBS, Yoon and Lee were both supported by 35.5% of respondents. The same poll had Justice Party presidential candidate Sim Sang-jung at 4.4% and People’s Party candidate Ahn Cheol-soo at 3.5%.

A poll of 1,007 Koreans carried out by Next Research for SBS over Saturday and Sunday found Yoon at 34.4% and Lee at 32.7%, with Sim (4.2%) and Ahn (2.8%) trailing behind.

 

                                                                                    

 

The Dong-A Ilbo (http://english.donga.com/)

Korea National Diplomatic Academy chancellor urges end of war announcement

The next summer will be very dangerous without the announcement of the end of the Korean War,” said Chancellor Hong Hyun-ik of the Korea National Diplomatic Academy (KNDA) during his visit to the U.S. on Tuesday. He also argued that the ROK-U.S. joint military training should be postponed next year if negotiations with North Korea resume. North Korea will wait and see until the 2022 Beijing Olympics in February and the presidential election in South Korea in March but not after that,” said Hong at a seminar on the projection of the U.S.-North Korea relations held by Woodrow Wilson Center, a think tank in Washington, D.C. “The U.S. should give a true opportunity to North Korea to abandon its nuclear weapons,” he added. “It is President Moon Jae-in’s proposal to announce the end of the Korean War as the first step toward it.”

 

5 foreigners named this year’s honorary Seoul citizens

Nine foreigners from eight countries living in Seoul and contributing to society have been named 2021 honorary citizens of Seoul. Seoul’s honorary citizen awards, which began in 1958 after the Korean War by awarding foreigners who contributed to the reconstruction of the city, have produced 891 honorary citizens from 100 countries. Candidates are recommended by embassies and the heads of public institutions and social groups, as well as letters of over 30 Seoul citizens, examined by an independent judging committee, and selected finally with the agreement of the Seoul Metropolitan Council. This year, 32 foreigners from 24 countries were recommended and nine were selected as final awardees.

 

NIS chief Suh Hoon to visit China on Thursday

Director of the National Intelligence Service Suh Hoon will visit China on Thursday for two days. With the discussion with the U.S. regarding the announcement of the end of a war between the two Koreas in the finalization stage, Suh will ask for China’s cooperation for the batter and look for ways to bring North Korea to a discussion table during the visit. According to a diplomatic source on Tuesday, Suh will meet with Yang Jiechi, a member of the Politburo of the Chinese Communist Party in charge of foreign affairs, in China on Thursday and Friday. The two are meeting each other for the first time since August last year.

 

                                                                                                

 

The KyungHyangShinmun (http://english.khan.co.kr/)
COVID-19: A Record-High 5,123 New Daily Cases and 723 Patients in Critical Condition

On December 1, authorities confirmed over 5,000 new daily cases of COVID-19 for the first time since the virus first landed in the nation. The number of patients in critical condition also jumped to 723, breaking the previous record. The Central Disease Control Headquarters announced that as of midnight this day, they confirmed 5,123 cases of COVID-19 from the previous day. This is the largest number of cases confirmed in a day and is over a thousand more than the previous record of 4,115. Among the newly confirmed cases, 5,075 were contracted in the local community, while 48 cases entered from overseas.

 

Electric Scooter Battery Explodes While Being Charged: Government Provided Subsidies, But Now Neglects Safety Management

Yi (62), who owns a supermarket in Seongdong-gu, Seoul, was surprised after hearing an explosion in front of his store last September. The battery of the electric scooter he had purchased two years before had exploded while it was being charged. Luckily, no one was hurt, but the flames spread to the store and Yi was out of business for two months. The forensics report from the National Forensic Service stated that the fire could have started because of damage to the insulation in the battery pack.

 

Italian Healthcare Fund Linked to a Massive Mafia Organization

The Italian Healthcare Fund (Italian Fund), in which over 110 billion won has been frozen since authorities suspended the repurchase of the fund, invested in a fund managed by a huge Italian mafia organization. Investigators discovered that Shin, a former employee of Hana Bank who led the design and sales of the Italian Fund, visited Italy while the fund was being sold. Prosecutors have identified Shin as the key figure in the Italian Fund fraud. Hana Bank sold 150 billion won worth of the Italian Fund, which is a fund of funds (FOF), a fund that invested in an overseas fund that in turn purchased trade receivables for medical expenses that Italian hospitals were to receive from the Italian government. Overseas funds invested in Italian hospitals through Italian special purpose vehicles (SPV).

 

                                                                                                

 

Maeil Business News Korea (http://www.pulsenews.co.kr/)

Korea’s monthly exports at milestone of $60 bn Nov, set to end the year at record high

South Korea’s monthly exports hit a new milestone of $60 billion in November on strong global demand for Korean vessels and petrochemicals on top of still-robust mainstay shipments of chips and steel. According to data released by the Ministry of Trade, Industry and Energy on Wednesday, the country’s outbound shipments came to record $60.4 billion in November, up 32.1 percent from the same period last year. The turnout tops previous monthly high of $55.92 billion in September.

 

Analysts sanguine about Kospi rebound, estimate peak at 3,400 in May-June

South Korea’s main bourse erased gains of the year after hitting the lowest since December on Tuesday, but analysts project Kospi strengthening from the second quarter to peak at around 3,400 in May or June on improved earnings and bargain hunting from excessive anxiety over the economic impact from the rise of a new virus variant and inflation. The Kospi on Wednesday rebounded by strong 2.14 percent to close at 2,899.72 from the annual low of 2,839.01 on Tuesday as foreign and institutions reversed to heavy buying after a hectic selling spree in just a day.

 

Naver’s metaverse operator Naver Z’s $190mn funding joined by K-pop labels

Naver’s metaverse platform Zepeto operator Naver Z has bagged 223.5 billion won ($189.7 million) funding from financial investors and South Korean entertainment labels amid hype over metaverse economy. The company raised 175 billion won, 80 percent of the total funding, from SoftBank, according to the sources from the investment banking industry on Wednesday. Mirae Asset Group, in charge of operating Naver’s overseas venture funds, chipped in 20 billion won. The rest of the fund was raised by the country’s major K-pop agencies. Hybe behind BTS bought 903 shares of Naver Z which are priced at 7.8 million won apiece, and YG Entertainment and JYP Entertainment took over 909 shares each. Naver Webtoon also acquired 909 shares.

                                                                                                                   

 

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
                                                                                                               

 

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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