Headline, July 8, 2022
Headline, July 8, 2022
  • Lee Kyung-sik
  • 승인 2022.07.08 09:18
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Friday, July 8, 2022
Round-up of important news from major Korean dailies and from international media today

The Korea Post ( www.koreapost.com )

Constitutional reform of Uzbekistan is based on the proposals of the people
As is known, these days an important political process continues in Uzbekistan – a nationwide discussion of amendments and additions to the Constitution of the Republic of Uzbekistan. According to the current legislation, Parliament is endowed with the power to introduce amendments to the Basic Law. But the President of Uzbekistan proposed to consider the relevant draft law at a nationwide discussion and adopt it by referendum.


The people is the sole source and author of the Constitution
n July 3 of this year, the President of Uzbekistan sent an address to compatriots and Deputies of Jokary Kenes. The full text of this appeal is published below: 
Dear Compatriots and Deputies of Jokary Kenes! Today, I appeal to all those who are not indifferent to the fate and future of our dear Motherland; peace and stability in our precious land. The alarming events that took place in the Republic of Karakalpakstan has caused pain in the heart of every one of us, for all citizens of Uzbekistan.


Multi-artist Han Su-il embodying 3D light painting
Whenever I go to Insa-dong art district in Seoul, I stop by several galleries. Among them, when Multi-artist Han Su-il exhibited at Gallery Reuben, I visited the gallery as there were a number of works that attracted the attention of many people. Although they were ‘flat-painting’ works, they drew my attention because they were made with materials different from those used in ordinary art works.




Chosun Ilbo (http://english.chosun.com)
BOK Mulls Drastic Rate Hike

The Bank of Korea is reportedly minded to the base interest rate drastically in a monetary policy meeting next Wednesday. The timing is ripe to tame runaway inflation, but W1.90 quadrillion in household debt, shrinking private consumption and weakened corporate investments remain a worry as they could lead to an economic slump and job losses.

Gov't Mulls Fresh COVID Vaccination Campaign
Health authorities are mulling a fresh concerted vaccination campaign after the uptake for booster shots slowed even though infections are rising again. zorea started administering second boosters in February to vulnerable groups including the elderly. But uptake has been sluggish as infections fell after lockdown was lifted.


N.Korea Blames COVID Outbreak on Leaflets from S.Korea
North Korea has blamed the coronavirus pandemic there on contaminated leaflets sent by defectors from South Korea. The official Rodong Sinmun last Friday claimed that North Korea's first outbreak started in the border region of Ipo-ri in Kangwon Province, where local residents and soldiers who tested positive had touched "alien things" "in a mountain in early April.


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

Samsung reports mixed second quarter as profit growth slows

Samsung Electronics had a mixed second quarter with a combination of strong, near-record sales and weak profits reflecting challenges in the smartphone and appliance businesses and possibly some early trouble in chips. The world's biggest smartphone and memory chip maker is forecasting an operating profit of 14 trillion won ($10.7 billion) in the April -to-June period, up 11.4 percent on year. The figure falls slightly short of the market consensus of 14.7 trillion won, as reported by FnGuide.


North’s nukes to be discussed with China: top envoy
Foreign Minister Park Jin said he will bring up North Korea’s nuclear weapons with Chinese top envoy Wang Yi if they meet on the sidelines of a G20 foreign ministerial summit in Indonesia this week.I intend to emphasize the importance of China's role in resolving the North Korean nuclear issue,” Park told a group of reporters upon his arrival at Ngurah Rai International Airport in Bali on Thursday, according to Yonhap.


Korean shipbuilders rank No. 1 in orders booked in first half
Korean shipbuilders were No. 1 globally in terms of orders booked in the first half, regaining the top spot for the first time in four years. They are also expected to lead the rankings in the second half. Korea Shipbuilding & Offshore Engineering (KSOE) logged a $2.21 billion order to build 10 LNG carriers, the shipbuilder announced Thursday.




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

IMF chief warns of global recession
It is going to be a tough ’22, but maybe even a tougher ’23,” IMF Managing Director Kristalina Georgieva warned, adding “recession cannot be ruled out”. Despite the ubiquitous signs of recession, the Fed warned of taking yet another big step this month. In an interview with Reuters on Wednesday (local time), the IMF chief said the fund would be releasing a new estimate that lowers the expected growth rate of the world economy.


Former NIS chief dismisses the allegation of deleting intelligence
Even if I redact something, it will still be traced back on the NIS servers. Why would I make such a stupid mistake?” said Park Jie-won, former director of the National Intelligence Service. He has been accused by the agency of illegally deleting the data on the fisheries official killed in the Yellow Sea. The NIS does not generate all the information or the Special Intelligence documents. They only share them,” said Mr. Park during an interview with CBS radio on Thursday morning.


Gov’t determined to hasten implementing public actions
For the first time since President Yoon Suk-yeol’s inauguration, the key members of the People Power Party and the government, and the President’s Office attended the high-level consultation session on Wednesday to roll out measures against the recent surge in inflation. Price action plans for oil price, agriculture, livestock, fisheries and food products are going to be implemented quickly.




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

Samsung Elec estimates 1% on-qtr drop in sales and income Q2, outlook foggy onwards
Samsung Electronics Co. on Thursday projected hiatus in its hot sale streak from softened global demand on prospects of inflation-accompanied recession as its top and bottom line eased around 1 percent in the second quarter from earlier three-month period. The South Korean tech giant in its earnings guidance estimated its consolidated operating income at 14 trillion won ($10.7 billion) for the second quarter, up 11.38 percent on year but down 0.85 percent on quarter.


LG Elecs Q2 OP off 59% on qtr and 12% on yr on higher raw material prices
The sharp depreciation of Korean won versus the U.S. dollar has caused near 20 South Korea’s LG Electronics Inc. on Thursday projected 59 percent plunge in operating income to 791.7 billion won ($698.9 million) in the second quarter versus its strong first-quarter figures on surge in raw material prices and slowed demand for high-end consumer appliances. In its earnings guidance for the April to June period, LG Electronics reported an operating profit of 791.7 billion won, sinking 59.3 percent from the first quarter and 12 percent from the same period last year.


KSOE adds $2.21 bn orders for 10 LNG carriers, achieves 99.4% of annual target
South Korea’s Korea Shipbuilding & Offshore Engineering Co. (KSOE) has added 2.87 trillion won ($2.21 billion) worth orders for 10 LNG carriers from unidentified shippers in Europe and Oceania regions, close to achieve its annual target of $17.44 billion in just the first seven months. The orders are for LNG vessels capable of carrying 174,000 cubic meters of gas, the shipyard said in its disclosures on Thursday.




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

Democrats decry launch of probe into Moon-era NIS chiefs as retaliation by Yoon
On Wednesday, the National Intelligence Service (NIS) filed criminal complaints against two former directors of the agency, Park Jie-won and Suh Hoon, on charges of violating the National Intelligence Service Act in relation to the 2020 shooting death of a civil servant, the Yoon Suk-yeol administration taking direct aim at the two NIS directors of the Moon Jae-in administration only two months into its term.


KOSPI hits 20-month low as won continues to depreciate against US dollar
With concerns of a recession rattling the international community, the domestic financial market in South Korea took a major hit as well. The KOSPI fell below 2,300 for the first time in one year and eight months, and the won-dollar exchange rate topped the 1,310-won mark during trading — both stock prices and the exchange rate barreling towards a vicious cycle.


Yoon jumped on US bandwagon at NATO summit - why doing so isn’t in Korea’s interest
On May 21, President Yoon Suk-yeol held a bilateral summit with US President Joe Biden and announced Korea would be taking part in the Indo-Pacific Economic Framework (IPEF), a US-led economic security initiative. Yoon then went on to attend the NATO summit in Madrid, Spain, on June 29. In other words, less than two months after its inauguration, the Yoon administration has made clear its foreign policy choice to side with the US and the West.



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

Presidential Office Hires President Yoon’s Distant Cousin, Fueling Controversy over Personal Connections
News that Shin, the spouse of Lee Won-mo, secretary to the president on human resources, accompanied President Yoon Suk-yeol and the first lady to Madrid, Spain for the North Atlantic Treaty Organization (NATO) summit has fueled the controversy over unofficial figures surrounding the president. What’s more, Choi, a distant cousin of the president was hired as a director-level senior administrative official and is currently working in the Office of the Private Secretary to the President.


Moon Government’s Senior Secretary for Jobs, Hwang Deok-soon Resigns as President of the Korea Labor Institute
Hwang Deok-soon, president of the Korea Labor Institute who served as the senior Cheongwadae secretary for job creation in the Moon Jae-in government, expressed his intention to resign with a year and a half of his term still remaining. The previous day, Hwang sent an e-mail expressing his intention to step down to all the employees of the Labor Institute. In the e-mail, he wrote, “As an institute researching national policies


Yoon Government Begins to Turn away from Phasing out Nuclear Power: Plans to Generate More than 30% of Nation’s Power with Nuclear Energy by 2030
The Yoon Suk-yeol government has decided to generate more than 30% of the nation’s power with nuclear energy by 2030. The government will quickly resume the construction of Shin Hanul units 3 and 4, which was suspended by the Moon Jae-in government, and also plans to complete the construction of four nuclear power plant units under construction within the president’s term in office. At the same time, the government did not present any plans to reduce coal-generated power and to increase renewable energy.





PPP Ethics Committee Decides 6-Month Suspension of Chair's Party Membership
The ethics committee of the ruling People Power Party(PPP) has suspended the party membership of its chair, Lee Jun-seok, for six months over the allegation that he tried to destroy evidence related to a sexual bribery case. The committee chief, Lee Yang-hee, announced the decision early on Friday after the committee's marathon deliberation that lasted for nearly eight hours from 7 p.m. Thursday at the National Assembly.


Top Diplomats of S. Korea, China Hold Talks
The top diplomats of South Korea and China held talks in Indonesia on Thursday and discussed ways to develop bilateral ties. Foreign minister Park Jin and his Chinese counterpart Wang Yi sat down for talks in Bali on the sidelines of the Group of 20 Foreign Ministers' Meeting. In the first in-person talks between the two that lasted for 50 minutes, the ministers positively assessed the active exchanges and communication at various levels between Seoul and Beijing since the launch of the Yoon Suk Yeol government.


N. Korea Claims New Fever Cases Below 2,000 for Second Day
North Korea claimed that its fever-related daily cases suspected to be COVID-19 stayed below two-thousand for a second day. The North’s official Korean Central News Agency(KCNA) reported on Friday that around one-thousand-630 new fever patients were confirmed in the 24-hour period leading up to 6 p.m. Thursday nationwide. Quoting the nation's state emergency epidemic prevention headquarters, the KCNA said that about two-thousand-60 patients recovered during the same period.




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

Ruling party suspends leader's party membership over sexual bribery scandal
The ruling People Power Party suspended the party membership of leader Lee Jun-seok for six months Friday over allegations of sexual bribery and cover-up, a decision that is expected to unseat him as party chairman, throw the party into confusion and deepen an intraparty power struggle.


Yoon calls for waking up from 'fiscal universalism'
President Yoon Suk-yeol sounded the alarm on the country's fiscal health on Thursday, saying people should wake up from the "fantasy" that increasing government spending will automatically improve people's livelihoods. Yoon made the remark while presiding over a fiscal strategy meeting with members of the government and the private sector at Chungbuk National University in Cheongju, 112 kilometers southeast of Seoul.

S. Korea, U.S., Japan to hold talks among top diplomats in Bali
South Korean Foreign Minister Park Jin is scheduled to hold trilateral talks with his American and Japanese counterparts on the sidelines of a Group of 20 (G-20) session in Indonesia this week, his ministry announced Thursday. It would mark Park's first in-person group meeting with Secretary of State Antony Blinken and Foreign Minister Yoshimasa Hayashi since taking office in May, another show of the regional powers' efforts to bolster their security cooperation amid North Korea's unrelenting saber-rattling.




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

Controversy continues over Yoon’s acquaintances’ involvement in state affairs
The presidential office is facing mounting criticism over President Yoon Suk-yeol’s personal acquaintances’ involvement in public affairs, following revelations that a relative of the president is working at the presidential office, days after the first lady drew fire for taking an acquaintance to the NATO summit.


Not illegal but not legal: The murky landscape of abortion in Korea
Women and doctors still navigate murky legal waters when it comes to abortion in Korea, despite the practice having been decriminalized over a year ago. The ban on abortion was ruled unconstitutional in April 2019, but the National Assembly has failed to meet its deadline - which expired on the last day of 2020 -- to make new laws to reflect the changes.


W3.6tr in early education funds to be reallocated for semiconductor training
Some 3.6 trillion won ($2.8 billion) earmarked in the Education Ministry budget for early childhood, elementary and secondary education will be reallocated for higher and lifelong education, such as nurturing semiconductor talent, the ministry said Thursday. The revamped education subsidy plans were put forward “in consideration of the changing education environment,” the ministry said in a statement.




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

Ruling party suspends leader's party membership over sexual bribery scandal
The ruling People Power Party suspended the party membership of leader Lee Jun-seok on Friday over allegations of sexual bribery and cover-up, a decision that is expected to unseat him as party chairman, throw the party into confusion and deepen an intraparty power struggle. The PPP's ethics committee said Lee's membership will be suspended for the next six months.


Yoon under fire for nepotism, cronyism allegations
President Yoon Suk-yeol and first lady Kim Keon-hee seem to be caught in never-ending controversies over their friends and relatives working at the presidential office, with mounting suspicions that nepotism or cronyism are behind the appointments of some of their aides. According to the presidential office, Thursday, a senior assistant secretary working at the presidential office is a relative on Yoon's mother's side, but his employment is completely lawful and there are no shortcomings in his qualifications.


Johnson resigns, remains UK prime minister for now
British Prime Minister Boris Johnson has said it is "clearly the will" of his Conservative Party that there should be a new leader as he announced his resignation. Johnson said Thursday he will remain as British prime minister while a leadership contest is held to choose his successor. Critics say he should not be allowed to remain as caretaker prime minister and he should be removed from office as soon as possible.



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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