Wednesday, July 20, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
“Korea has huge potential for cooperation in textile, steel, car, shipbuilding, electronics, many more”
Chairman Antonio Henriques da Silva of the Agency for Private Investment and Exports Promotion of the Republic of Angola said, “The Republic of Korea has a robust industrial sector such as textile, steel, car manufacturing, shipbuilding and electronics.” Speaking at a recent interview with The Korea Post the Embassy of Angola in Seoul in the presence of Ambassador Edgar Gaspar Martins, Chairman Silva added, “Angola is a growing hub in the subregion, and establishing industries in Angola serves as a preferred gateway to southern Africa with the competitive advantage such as geographic location for trade,~
Chambers of parliament of Uzbekistan adopt joint decision to form commission
On July 15, 2022, a joint meeting of the Kengashes of the Legislative Chamber and the Senate of the Oliy Majlis of the Republic of Uzbekistan was held in Tashkent. At the joint meeting, the appeal of the Authorized Person of the Oliy Majlis of the Republic of Uzbekistan for Human Rights (Ombudsman) on the issue of ensuring human rights and freedoms in the Republic of Karakalpakstan was considered.
World Punggi Ginseng EXPO to hold a launching ceremony
World Punggi Ginseng EXPO, Yeongju, Korea 2022 Organizing Committee said that it will hold the launching ceremony of the Pan-City Citizens' Support Council for the Ginseng Expo on July 19. More than 500 people, including Mayor of Yeongju Park Nam-seo and Governor of Gyeongsangbuk-do Lee Chul-woo, officials of the Ginseng Expo Organizing Committee, and members of the pan-city civic support council, will attend the event to be held at Magpie Hall of Yeongju Cultural Art Building.
Chosun Ilbo (http://english.chosun.com)
COVID Reinfections to Become the Norm
COVID reinfections are likely to become part of a new normal as vaccines prove ineffective against infection and can only reduce the severity of the illness. So far the number of reinfections is much smaller than that of new infections, and six out of 10 Koreans have not had COVID at all, but that could change as more virulent mutations take over. As of Monday, the cumulative number of COVID patients in the country was around 18.78 million, accounting for 36 percent of the population.
Gov't Releases Video of N.Korean Fishermen's Forcible Repatriation
The Unification Ministry on Monday released a video of the forcible repatriation of two North Korean fishermen in the border truce village of Panmunjom on Nov. 7, 2019. The four-minute video confirms that the two were desperately resisted crossing the military demarcation line. One of them, freed of his blindfold and ropes around his wrists, spots North Korean border guards in front of him, falls to the ground and starts banging his head on the ground. But South Korean officials yank him to his feet and hand him over.
U.S. Treasury Chief Visits Korea
U.S. Treasury Secretary Janet Yellen arrived in Korea on Tuesday morning on the final leg of her trip to the Indo-Pacific region. She visited LG Science Park, a research and development campus of LG Group, in southwestern Seoul and was given a tour by LG Chem CEO Shin Hak-cheol. The U.S. is drumming up support to build resilient supply chains with its allies and LG Energy Solution, an affiliate of LG Chem, is expanding its U.S. investment to build electric vehicle battery factories.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
Yellen and Korean leaders agree to stabilize currency market
U.S. Treasury Secretary Janet Yellen met with the president, the finance minister and the governor of the central bank during her two-day visit to Korea. While the visit came at a time of economic turmoil, with financial markets volatile, inflation raging and economies sputtering, Yellen steered clear of mentioning specifics, and no major agreements seem to have been reached.
KF-21 fighter jet defies doubters and takes to the skies
Korea's domestically developed KF-21 fighter took to the skies for the first time on Tuesday afternoon, more than six years after its development began amid doubts about its price tag and technological feasibility. Piloted by Maj. Ahn Jun-hyeon of the 52nd Flight Training Wing, the KF-21 took off from a runway of the 3rd Flight Training Wing Air Force base near the headquarters of Korea Aerospace Industries (KAI) in Sacheon, South Gyeongsang, around 3:40 p.m. Tuesday and safely landed at 4:13 p.m.
Korea's top envoy finds Kishida 'attentive' in Tokyo
Foreign Minister Park Jin stressed Seoul’s commitment to improving relations with Tokyo in a meeting with Japanese Prime Minister Fumio Kishida on Tuesday.“After meeting with Prime Minister Kishida several times on the occasion of the NATO summit in Spain, President Yoon Suk-yeol was convinced that he and Minister Kishida could work together to develop friendly and cooperative relations between Korea and Japan as a reliable partner,” Park told a group of reporters following his meeting with Kishida at his residence on Tuesday.
The Dong-A Ilbo (http://english.donga.com/)
U.S. State Dept. comments on the forced return of N. Korean fishermen
About the decision of the former Moon Jae-in administration to forcibly return the fishermen from North Korea, the U.S. State Department said it has a profound concern about the human rights record in the communist regime and it shares such concerns with South Korea. Asked about the fishermen who escaped Pyongyang and were forcibly repatriated back to the North and how this will affect human rights issues during a Monday briefing
A major drug lord in Southeast Asia repatriated to Korea
Kim (47), the head of a crime ring who had been on the run in Southeast Asia, smuggling drugs into Korea, was arrested in Vietnam on Sunday. Kim is known as one of the “three major Korean drug lords in Southeast Asia.” The National Police Agency announced on Fridays., "After sending an arrest support team to Vietnam and conducting a joint investigation with the Vietnamese Ministry of Public Security, Kim was arrested in Ho Chi Minh City on Sunday, and was forcibly returned to Korea today."
Korea's Air Force Black Eagles wins top prize at RIAT airshow
Korea's aerobatic team Black Eagles won two top prizes at the Royal International Air Tattoo (RIAT) airshow, one of the world's largest military airshows held in the United Kingdom. According to the Korean Air Force on Monday, the Black Eagles was awarded with the ‘As The Crow Flies’ trophy for the best overall flying demonstration at the RIAT held in Fairford, Gloucestershire, the U.K. from Friday to Sunday.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korea seeks to allow financial firms to advance into non-financial sector
South Korea is seeking to ease old financial regulations to allow financial companies like banks and insurers to advance into non-financial sectors in a fast shift toward disruptive technology-driven digital services in the financial sector. “The goal of financial deregulation is to create a new ground for the birth of new world-leading financial companies like BTS of the financial industry,” said Kim Joo-hyun
SK hynix puts brakes on $3.3 bn capex plan to add chip lines at home
South Korea’s SK hynix Inc. has put the brakes on its ambitious 4.3 trillion won ($3.26 billion) capex plan to build new production lines at home amid growing industry uncertainties from the inflation- and war-hit global economy and the weakening Korean currency against the U.S. dollar. According to industry sources on Tuesday, SK hynix’s board during last month’s meeting decided to delay its final decision on the line expansion plan.
Korean President Yoon hints at using force to end strike at DSME dockyard
South Korean President Yoon Suk-yeol hinted at using force to end the “illegal” sit-down strike by unionized subcontract workers at the world’s biggest dockyard of state-owned Daewoo Shipbuilding & Marine Engineering Co. (DSME) in an ultimatum.
HanKyoReh Shinmun (http://english.hani.co.kr)
Top diplomats of S. Korea, Japan agree to accelerate talks on forced labor issue
South Korean Foreign Minister Park Jin met with Japanese Foreign Minister Yoshimasa Hayashi for the first time since taking office on Monday. The two agreed to speed up discussions to quickly resolve key pending issues between the two countries, including the issue of compensation for victims of forced labor during the Japanese colonial period.
Yoon hints at deploying police to break up shipbuilders strike
South Korean President Yoon Suk-yeol and the ministers of five Cabinet offices hinted at the possibility of dispatching authorities to respond to a strike by the Geoje, Tongyeong, and Goseong shipbuilding subcontract workers belonging to the Korean Metal Workers Union (KMWU). The message signals that the administration is ratcheting up the pressure in response to the strike.
Yoon Suk-yeol faces disapproval rating twice that of approval rating
Various opinion polls show that more Koreans disapprove of President Yoon Suk-yeol’s performance than approve of it, with over 60% of respondents believing he is not doing a good job running the country. Polling firm Realmeter polled 2,519 voting-age adults across the country from July 11-15, asking them to rate Yoon’s performance regarding state affairs. 33.4% said the president was doing a good job, down 3.6 points from the previous week. On the other hand, 63.3% of respondents held the opinion that Yoon was “not doing a good job”
The KyungHyangShinmun (http://english.khan.co.kr/)
President Yoon’s Approval Rating at 33%, While 54% of the “We’ve Waited Long Enough,” President Yoon’s Stance on Sending Law Enforcement Officers to Daewoo Shipbuilding
On July 19, President Yoon Suk-yeol spoke on the strike by the employees of in-house subcontractors at Daewoo Shipbuilding and Marine Engineering and asked, “Hasn’t the people and the government waited long enough?” This day, President Yoon met with reporters on his way to work at the presidential office in Yongsan and when a reporter asked if he was considering dispatching law enforcement officers, he said, “Irregularities cannot be tolerated or neglected in industrial sites and in labor-management relations.”
Chang Je-won Claims, “Kweon Seong-dong Never Pressured Me to Hire Anyone”
On July 18, People Power Party lawmaker Chang Je-won spoke on the controversial hiring of Woo, a grade-9 administrative official in the Office of the Senior Secretary for Social Affairs in the presidential office and said, “I have never been pressured by Kweon Seong-dong in any way. He only made a recommendation.” This day, Chang wrote on social media, “As for the acting party leader and floor leader Kweon Seong-dong’s comments on the personnel decisions by the Office of the President,
Student Suspected of Killing an Inha University Student Arrested after Court Recognizes “Risk of Fleeing from the Law and Destroying Evidence”
The police arrested an Inha University student suspected of raping and causing the death of another student on campus. On July 17, officers from the Michuhol Police Station in Incheon arrested A (20), a freshman at Inha University on the charge of death by quasi-rape. Judge Go Beom-jin at the Incheon District Court reviewed A’s arrest warrant before his arrest this afternoon and issued the warrant claiming that there was a risk of A fleeing from the law and destroying evidence.
S. Korea Downgraded to Tier 2 in US Human Trafficking List for 1st Time in 20 Yrs.
The U.S. has downgraded South Korea for the first time in 20 years in its annual assessment of efforts by countries to eliminate human trafficking. In the latest “Trafficking in Persons Report” released on Tuesday, the Department of State put South Korea among 133 Tier Two countries including Japan, Norway, Switzerland, Mexico, Pakistan and Saudi Arabia.
Seoul's Spy Chief Arrives in US amid Concerns about N. Korean Nuke Test
The head of South Korea’s spy agency is visiting the United States amid growing speculation that North Korea’s seventh nuclear test is imminent. National Intelligence Service(NIS) Director Kim Kyou-hyun arrived at Dulles International Airport near Washington D.C. on Tuesday, commencing his first visit to the U.S. since taking office in May.
Finance Chiefs of S. Korea, US Agree on Possible FX Liquidity Facilities
South Korea and the United States have agreed that they can implement liquidity facilities with one another if needed amid the won’s continuous tumble against the dollar. According to the finance ministry on Tuesday, economy and finance minister Choo Kyung-ho and U.S. Secretary of the Treasury Janet Yellen discussed the topic and other matters of cooperation during a bilateral meeting in Seoul earlier in the day.
S. Korea, U.S. agree to supply FX liquidity, if needed
South Korea and the United States agreed Tuesday to implement liquidity facilities, if needed, as part of efforts to cooperate in stabilizing the foreign exchange market. Seoul also expressed its willingness to join a proposed price cap on Russian oil, after Finance Minister Choo Kyung-ho and U.S. Treasury Secretary Janet Yellen held talks in Seoul to discuss global and bilateral economic issues.
S. Korea's homegrown KF-21 fighter succeeds in 1st flight test
South Korea's homegrown KF-21 fighter successfully carried out its first flight test Tuesday, around 6 1/2 years after its mammoth development project kicked off despite skepticism over technological obstacles, cost effectiveness and other feasibility questions. At the Air Force's 3rd Flying Training Wing in Sacheon, about 300 kilometers south of Seoul, the warplane took off, signaling South Korea is on course to join an elite club of seven countries that have locally developed supersonic fighter jets.
S. Korea's dependence on Japanese materials hits all-time low in H1
South Korea's dependence on Japanese materials and parts fell to an all-time low in the first half of this year, three years after Tokyo's control of exports of key materials bound for Seoul, data showed Wednesday. Imports of Japanese materials, parts and equipment came to US$20.07 billion during the January-June period, accounting for 15.4 percent of South Korea's overall purchase of those goods, according to the data from the Ministry of Trade, Industry and Energy.
The Korea Herald (http://www.koreaherald.com)
Seoul reaches out to Japan, Yoon says he has ‘certainty’ for cooperation for better ties
South Korean Foreign Minister Park Jin met with Japanese Prime Minister Fumio Kishida and discussed ways to improve the long-strained bilateral ties between the two countries in Tokyo on Tuesday. In his meeting with Kishida, Park delivered South Korean President Yoon Suk-yeol’s message and Yoon’s determination to reset bilateral ties with Japan.
S.Korea’s first homegrown KF-21 fighter jet takes first flight
South Korea’s first homegrown KF-21 fighter jet successfully completed its inaugural test flight Tuesday afternoon, the country’s arms procurement agency announced. A KF-21 Boramae fighter prototype took off for its maiden flight at 3:40 p.m. at the base of South Korea’s Air Force 3rd Training Wing in the city of Sacheon, South Gyeongsang Province, the Defense Acquisition Program Administration said. The jet flew for 33 minutes and landed at 4:13 p.m.
SK hynix delays decision on W4tr plant expansion
Chaebol groups in Korea are looking to rethink their ambitious investment plans that were announced earlier this year as fears of a global recession are clouding their business outlook. According to industry sources on Monday, SK hynix, the world’s second-largest memory chip maker, recently delayed a decision on its 4 trillion won ($3 billion) expansion plan for local production facilities.
The Korea Times (http://www.koreatimes.co.kr)
Hyundai Motor workers vote to accept wage deal
Unionized workers of Korea's top carmaker Hyundai Motor voted to approve a wage deal with the management Tuesday, averting a labor strike for the fourth consecutive year, the company said. Some 61.9 percent of 39,125 workers who cast a ballot voted for this year's wage agreement, which calls for a 98,000 won ($74.92) increase in basic monthly pay, according to the company.
FSC chair aims to foster 'BTS of the financial industry'
The country's top regulator once again stressed the need for innovative deregulation of the local financial industry, in order to respond nimbly to the global financial transformation towards full-blown digitalization. Such deregulation would create a new field where leading players like BTS can be born in the financial industry, he added. Speaking at a regulatory reform meeting held at the Korea Federation of Banks in central Seoul Tuesday morning
Lingering tensions in Panmunjom underline uncertainties in inter-Korean ties
About four years ago, the inter-Korean truce village of Panmunjom was brimming with renewed hopes for peace, as a rare summit between the two Koreas took place there, diluting its image of cross-border tension, albeit temporarily. But such hopes appeared to be fading amid COVID-19 and uncertainties in inter-Korean ties, as reporters on Tuesday's media tour saw North Korean troops wary of cross-border contact and unruly weeds seeming like a sign of Seoul's hitherto unfruitful peace endeavors.
What’s ticking around the world at this second?
See what the world media around the world have to report:
Le Monde www.ilemonde.com
Sydney Morning Heraldwww.smh.com.au
Colombia Reports http://colombiareports.com
El Universal http://www.eluniversal.com.mx/english
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
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.
And many other countries.
What are you waiting for?
The Korea Post media are more than eager to be used, and to serve you—with the following five news outlets, 37 years old this year!
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