Headline, July 4, 2022
Headline, July 4, 2022
  • Lee Kyung-sik
  • 승인 2022.07.04 00:00
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Monday, July 4, 2022
Round-up of important news from major Korean dailies and from international media today

The Korea Post ( www.koreapost.com )

President Yoon, Australian PM join hands in NK's denuclearization
President Yoon Suk-yeol held bilateral talks with Australian Prime Minister Anthony Norman Albanese in Madrid, Spain on June 28, the first event on the president's official schedule on the sidelines of the North Atlantic Treaty Organization (NATO) summit. The presidential office said both leaders in the afternoon held their dialogue at a hotel in the Spanish capital


LG Energy Solution signs MOU with Compass Minerals of the U.S.
LG Energy Solution is branching out in its efforts to secure supply chain of materials as it ramps up its battery production to satiate the growing market demand. LGES announced on June 29 that it has signed a non-binding Memorandum of Understanding (MOU) with Compass Minerals, a leading U.S. provider of essential minerals, critical to producing battery-grade lithium.


“I have been called by the citizens to change Gyeryong, and I will”
Newly elected Mayor Lee Eun-Woo of the Gyeryong City of the Chungcheongnam-do Province said, “I think the will of the great citizens of Gyeryong who called me to this place is because of their desire to change Gyeryong, and I will fasten my collar and tie my shoelaces tightly in order to honor this solemn command from the citizens.” The Gyeryong City was created in 2003 by a split from Nonsan city, following prolonged local discussions.



Chosun Ilbo (http://english.chosun.com)
China's Proportion of Korean Exports Declines

The proportion of Korea's exports that is sold to China has been shrinking since 2018, which is good news for those who worry that the country is becoming too dependent on its giant neighbor. The figure surged from 10.7 percent in 2000 to 26.8 percent in 2018. Cheap labor prompted Korean manufacturers to set up factories in China, and Korean exporters began supplying them with intermediate goods, contributing to the surging proportion.

Seoul Ranked 2nd in the World for Number of Int'l Meetings Hosted
Seoul has been ranked second in the world out of 1,034 cities in terms of hosting the most international meetings in 2021. According to a report released by the Union of International Associations last week, Seoul went up one slot from the year before, despite mulitple challenges caused by the coronavirus pandemic.

Civil Service Jobs Lose Luster Among Young Koreans
Applicants for government jobs in their 20s and 30s are dwindling as the civil service, long considered a lifelong safe haven by risk-averse young Koreans, loses its luster. Another factor is that there are simply fewer young people than there used to be, but jobseekers say the benefits of public-sector jobs are decreasing. Until recently, pensions were the biggest plus


Joongang Ilbo (https://koreajoongangdaily.joins.com )

Korea decriminalized abortion, but has anything actually changed?
Is abortion legal in Korea? It's a simple and incredibly important question, but the answer is still unclear. Korea’s decades-old ban on abortion was ruled unconstitutional for the first time in April 2019. Yet, the answer to whether abortion is legal remains a difficult one because there’s still no new law that says that it is permitted.


Trilateral security cooperation is back, says Yoon
President Yoon Suk-yeol said he and the leaders of Japan and the United States agreed it would be desirable "in principle" to resume three-way security cooperation to respond to North Korea's threats, denying any attempt to exclude China. Yoon described his summit with Japanese Prime Minister Fumio Kishida and U.S. President Joe Biden on the sidelines of a NATO gathering last week as his "most important and significant"


Pyongyang squawks at goings-on at NATO summit
North Korea's Foreign Ministry condemned South Korea, the United States and Japan for efforts to strengthen security cooperation in a trilateral summit in Madrid last week and accused Washington of creating a NATO-like military alliance in the Asia-Pacific. The ministry's spokesperson said, according to an English-language report from the North's official Korean Central News Agency (KCNA) Sunday




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

Manufacturing companies face dark times amid downturn
"I used to buy a kilogram of plastic at 2,000 won, but the price has risen to 4,500 won. The problem is that the products don't sell because consumption has declined in every country. I've never seen this kind of situation before." A plastic manufacturer company in Incheon is a key supplier of Korean beauty products including Kolmar Korea and Amore. The company is recently feeling the impacts of the global economic downturn.


Pro-Lee club lawmakers likely to run for DP’s supreme council
There is growing competition not only among candidates for the main opposition Democratic Party of Korea’s chairman but also among those vying for the supreme council in the run-up to the party’s national convention on August 28. The party holds two separate elections for chairman of the party and the supreme council. However, as Rep. Lee Jae-myung is highly likely to run for the leadership position


Alizé Cornet puts an end to Iga Swiatek’s winning streak
World top-ranked women’s tennis player Iga Swiatek (21, Poland)’s consecutive winning march stopped at her 37-game. In the Wimbledon women’s singles, which ended on Sunday, Iga Swiatek lost 0-2, full defeat to Alizé Cornet (32, France, 37th). It was a defeat in about five months for Iga Swiatek since the defeat in Dubai Championship quarterfinals Feb. 16, 2022. Iga Swiatek was recording a winning streak of 37 matches until this match R2.




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

Korea’s trade deficit at six-month record of $10.3 bn H1 despite record half-year exports
South Korea’s trade balance delivered the largest-ever six-month deficit of over $10 billion as import cost from strong commodity prices and weak Korean won overwhelmed record half-year exports. According to data released by the Ministry of Trade, Industry and Energy on Friday, the deficit in the country’s trade balance by the end of June reached $10.3 billion


Hyundai Motor Group to set up U.S. unit to oversee $11 bn capex in the US
South Korean auto conglomerate Hyundai Motor Group will establish an investment unit in the United States as a follow-up to its $10.5 billion investment scheme pledged during U.S. President Joe Biden’s visit to Seoul last month to suggest its capex in the U.S. would stay intact regardless of higher exchange rate and interest rates.


SK ecoplant raises $771 mn in pre-IPO financing rounds
SK ecoplant Co., an environment-focused engineer under South Korean conglomerate SK Group has sold convertible preferred stock worth 1 trillion won ($771 million) in pre-IPO funding rounds ahead of the initial public offering planned for next year. The company disclosed Friday it will assign 1,333,334 convertible preferred shares worth 600 billion won to third-party investors




HanKyoReh Shinmun (http://english.hani.co.kr)

Will joint exercises be part of Yoon, Kishida’s push to improve ties?
The leaders of South Korea and Japan took advantage of their attendance at the NATO summit to quickly forge closer ties. Korean President Yoon Suk-yeol and Japanese Prime Minister Fumio Kishida met five times over the course of the NATO summit and are expected to rapidly act on their new consensus to improve bilateral relations.


Group for victims of forced labor by Japan decries roundabout plan for reparations
A support group for Korean victims of forced labor during the Japanese colonial period is taking a stand against “compensation by subrogation,” which the South Korean government has been discussing as a potential solution to the issue of compensation for these victims. The Citizens’ Group Against Forced Labor During the Japanese Colonial Period held a press conference at the Gwangju City Council building on Thursday


Yoon uses NATO speech to underscore hawkish approach to N. Korea
While attending the NATO summit in Madrid, President Yoon Suk-yeol made it clear that he would take a hard-line approach to North Korea. Amidst the possibility of North Korea conducting a seventh nuclear test, Yoon used his time on the international stage to highlight the stark difference between his more hawkish approach to the North and the Korean Peninsula peace process of his predecessor, Moon Jae-in.




The KyungHyangShinmun (http://english.khan.co.kr/)

NATO Replaces Photo of President Yoon with His Eyes Closed upon Request from the Office of the President
The North Atlantic Treaty Organization (NATO) published a group photo of state leaders on its website, but it showed President Yoon Suk-yeol with his eyes closed. The Office of the President requested changes and the picture in question has now been replaced. On June 29 (local time), NATO published a picture of four leaders of partner countries in Asia and the Pacific invited to the NATO Summit


All Heavy Rain Warnings Lifted Nationwide: Showers Expected in Some Places with Temperatures Reaching 35°C
The rain, which had been falling heavily in the central region, has subsided, allowing authorities to lift all heavy rain advisories and warnings nationwide. On Friday, July 1, there may be thundershowers with strong gusts of wind in some areas in the central region, and the sweltering heat is expected to continue in Jeju-do, the southern region, Chungcheong and the central and southern Yeongdong region in Gangwon.


Nuri Successfully Released Cube Satellite by Chosun University Team, But Ground Station Confirmed Only Partial Reception of Signals
The performance verification satellite that went into orbit on the Korean launch vehicle Nuri (KSLV-II) successfully released a (mini) cube satellite created by a team of Chosun University students. The satellite was then able to transmit some information on its status to the ground station. However, researchers believe it may take some time for the satellite to stabilize its position.




Rival Parties to Resume Talks after Failing to Reach Agreement on Parliamentary Formation
Rival parties have failed to reach agreement on forming parliamentary leadership and standing committees, leaving the parliament paralyzed for over a month. Floor Leader Kweon Seong-dong of the ruling People Power Party (PPP) sat down for talks with his opposition party counterpart Park Hong-geun of the Democratic Party (DP) over the weekend, but failed to narrow differences.


This Year's College Entrance Exam Set for Nov. 17
A nationwide college entrance exam for 2023 will be held on November 17. 
The Korea Institute for Curriculum and Evaluation (KICE),which administers the College Scholastic Ability Test (CAST), released the detailed plan for the annual test. As last year's test, test takers for the liberal arts and natural sciences both should take common and optional subjects in the sections of Korean language, mathematics and vocational education.

S. Korea's Int'l Air Passenger Traffic Tops 1 Million in June
The country's number of international air passengers jumped over 30 percent on-month in June to surpass one million with increased flights amid eased virus curbs. According to data by the Ministry of Land, Infrastructure and Transport on Sunday, the number of passengers who traveled on international and domestic routes from local airports reached about four-point-six million in June, up four-point-six percent from a month earlier.




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

Yoon's disapproval rating exceeds approval rating in latest poll
President Yoon Suk-yeol's disapproval rating surpassed his approval rating in a poll released Sunday. The survey by Research View, conducted on 1,000 South Koreans aged 18 or over from last Tuesday to Thursday, was the latest in a series of national polls, in which those giving a negative assessment of Yoon's performance outnumbered those who were bullish on the president.


Yoon to appoint new JCS chief amid tensions over N. Korea
President Yoon Suk-yeol is expected to appoint Army Gen. Kim Seung-kyum as the new head of the Joint Chiefs of Staff (JCS) early this week, a key presidential official said Sunday, amid lingering tensions over North Korea's provocations. Kim, who was nominated for the top military job on May 25, should take over the position quickly to prevent any leadership vacuum in the armed forces, the official said. "We haven't identified any ground for disqualification," the official added.

S. Korea reports this year's 1st heat-related death
South Korea on Sunday reported its first heat-related death this year amid a scorching heat wave nationwide. A man in his 40s was found collapsed while moving farm produce at a market in South Gyeongsang Province on Friday. He was taken to a hospital but pronounced dead, according to the interior ministry.





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

Yoon touts nuclear energy, green tech, chips as strengths
Korea’s future growth depends on nuclear power plants, green technology, chips and next-generation electric batteries, President Yoon Suk-yeol said Sunday, basing his statement on discussions he held with several Western leaders on the sidelines of the NATO summit last week.


FM hints at military cooperation with Japan, US
As the leaders of South Korea, the United States and Japan reaffirmed their commitment to work together to deter North Korea’s nuclear threats, Seoul’s foreign minister raised the possibility of the three countries expanding their military cooperation.


‘97 Generation’ challenges established heavyweights in opposition leadership
The race for the main opposition Democratic Party of Korea’s leadership is heating up, with many rising stars bidding to lead the party to a new phase of politics and help overcome an ongoing series of election defeats. Under the lead of an emergency steering committee, the Democratic Party is preparing for a national convention in August where it will elect the new chair.




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

Declining approval rating feared to dampen Yoon's political drive
President Yoon Suk-yeol's approval rating is mired in a downward spiral less than two months after he took office, May 10, setting new record lows for three consecutive weeks. Yoon, who just returned from his first overseas trip to the 2022 North Atlantic Treaty Organization (NATO) Summit in Spain, seeks to take advantage of the outcomes of his meetings there to recover from the declining support, as his predecessors did following overseas trips.


More than six out of 10 South Koreans willing to fight for country
Nearly seven out of 10 South Korean nationals are willing to fight for their country in the event of war, according to a recent poll. The World Values Survey polled 1,245 South Koreans, 67.4 percent of whom expressed their willingness to fight for their country, while 32.6 percent were unwilling to take up arms to defend their homeland.


Inflation expected to accelerate further in 2nd half
Korea's inflation is widely expected to accelerate further and keep setting new highs in the second half of this year, according to analysts, Sunday, amid speculation that consumer prices in June grew at the fastest pace since the 1997-98 Asian financial crisis. The government is scheduled to announce the June inflation rate on Tuesday, which officials forecast to be above 6 percent for the first time since November 1998 when it stood at 6.8 percent.




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.

What are you waiting for?
Use us!
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Korean-language Internet edition: http://www.koreapost.co.kr
English-language Internet edition: http://www.koreapost.com
Korean-language print newspaper:
English E-daily: http://www.koreapost.com/news/articleView.html?idxno=10690

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