Wednesday, November 9, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
Samarkand to host the summit of the Organization of Turkic States
On November 11, Samarkand will host the summit of the Organization of Turkic States (OTS). Last year, at the summit held in Istanbul, Turkey, it was decided to change the name of the Turkic Council to the Organization of Turkic States. Currently, the structure includes countries such as Turkey, Kazakhstan, Kyrgyzstan, Azerbaijan and Uzbekistan. While Hungary is an observer, Turkmenistan is its permanent guest as a neutral country. The goal of the Organization of Turkic States is to develop mutually beneficial cooperation between member states. Its main tasks are promotion of regional and bilateral cooperation, political, legal protection, trade-economic, energy, transport, bank finance, cultural-humanitarian fields.
Textile Summit: Uniting the Wеst and the East
As part of the 5th International Textile Week, the capital hosted the Tashkent Textile Summit on the theme "New balance in the global textile market - new players and trends." During the event, the initial results of the year were summed up regarding the ongoing reforms in Uzbekistan and implemented projects, including important events that took place in the textile industry of our republic. Chairwoman of the Senate of the Oliy Majlis of the Republic of Uzbekistan Tanzila Narbaeva, who took part in the summit as an honored guest, opening the event with an introductory speech, noted: “In our recent history, Uzbekistan has been one of the largest suppliers of raw cotton in the world, but our annual income from exports was only about 1 billion dollars.
Uzbekistan achieves significant results in the elimination of forced labor
In recent years, under the leadership of President of Uzbekistan Shavkat Mirziyoyev, systemic reforms have been carried out in our country on the basis of the idea of "New Uzbekistan - a democratic and humane state" aimed at building a new Uzbekistan and ensuring the well-being of our people. Importantly, these efforts are yielding expected results. This can be seen in the fact that as a result of systemic reforms in our new Uzbekistan, a new spirit and mood, a new life, which meets the age-old aspirations of our people and meets our national interests, is entering our way of life.
Chosun Ilbo (http://english.chosun.com)
N.Korea Claims It Shot 2 Cruise Missiles into Waters off Ulsan
North Korea on Monday claimed it fired two cruise missiles into international waters off the South Korean port city of Ulsan on Nov. 2. At the time, the North Korean military fired a ballistic missile across the Northern Limit Line, the de facto maritime border, into the East Sea, and the South Korean Air Force fired three air-to-surface missiles across the NLL in response. "The enemy returned the fire to the open seas of our sides... [we] made a retaliatory attack with two strategic cruiser missiles to the open sea in the waters 80 kilometers off Ulsan... with the range of 590.5 kilometers from an area of North Hamgyong Province," state media cited the North Korean Army's General Staff as saying.
Rescued Miners Reveal How They Survived 9 Days Underground
Two miners were miraculously rescued on Friday after being trapped in a collapsed zinc mine for nine days. One of them, a 56-year-old who wished to be identified only by his surname Park, told the Chosun Ilbo on Sunday, "My arms and legs froze in fear the moment the mine collapsed and we were trapped in darkness. But I did everything I could to endure and ended up surviving." "When the mine collapsed, I had four liters of drinking water and 18 sticks of instant coffee mix," he recalled. "I ate one stick a day by dissolving it in water, and two or three when I was really hungry." He boiled the water in a pot that was in the mine, but they ran out after three days. "The water on the ground was dirty, so I collected water dripping from the ceiling to drink."
KFA Cancels Street Cheering Events for World Cup
The Korea Football Association has canceled all mass cheering events for the upcoming World Cup in Qatar in the aftermath of the deadly Halloween stampede in Itaewon. The KFA last Friday said the decision was made out of respect for the victims and their families. Events were planned for Gwanghwamun Plaza as well as other prominent locations across Korea. Street cheering first began during the World Cup in 2002, when the country co-hosted the quadrennial event with Japan.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
State-run arms developer to build new missile testing facility amid North's threats
South Korea's state-run defense research agency plans to construct a new testing facility for arms development as the country seeks to strengthen the "three-axis" deterrence system to counter North Korea's evolving threats, an informed source said Wednesday. The Agency for Defense Development is expected to build the facility at a location near its existing testing site in Taean, 109 kilometers south of Seoul, with an aim of completing the construction in 2026, according to the source. The national defense committee of the National Assembly has recently approved a proposed budget of some 1.4 billion won ($1.02 million) to support the start of the construction next year.
Korea to hold memorial event in Busan for UN war veterans
Korea plans to host an annual ceremony this week to commemorate the sacrifices of fallen troops who fought under the UN flag during the 1950-53 Korean War, the veterans affairs ministry said Wednesday. The Turn Toward Busan ceremony will take place at the UN Memorial Cemetery in the southeastern port city of Busan on Friday, with the attendance of 114 bereaved families and war veterans from 15 countries invited by the ministry. Prime Minister Han Duck-soo, Veterans Affairs Minister Park Min-shik, United Nations Command (UNC) Deputy Commander Lt. Gen. Andrew Harrison and diplomatic delegates also plan to attend the memorial event first held in 2007.
Lee Jae-myung's aide indicted for taking bribes
Prosecutors on Tuesday indicted a close aide to Democratic Party (DP) Chairman Lee Jae-myung on charges of taking more than 800 million won ($577,000) in bribes from land developers linked to the controversial Daejang-dong development project. In the indictment, prosecutors accused the aide, Kim Yong, of using the kickbacks to fund Lee’s failed presidential election. Kim, 55, deputy head of the DP-affiliated think tank Institute for Democracy, has been accused of taking 847 million won in bribes from a lawmaker, Nam Wook, who is a private investor in the Daejang-dong development project.
The Dong-A Ilbo (http://english.donga.com/)
U.S. midterm results to come as early as Wednesday afternoon
U.S. midterm elections have begun, which are a prelude to the 2024 presidential election. With former president Donald Trump practically announcing to run for the presidential election, the GOP announced to reverse the Biden administration’s major accomplishments by capitalizing on widespread fears of economic recession. Democrats, on the other hand, have declared an all-out war against Donald Trump and framed the midterm elections as a “test for American democracy.”
Yoon works hard on ROK-US alliance and Korea-Japan relations
The most notable part of the Yoon Suk-yeol administration's diplomatic and security moves is its efforts to normalize the ROK-US alliance and restore the Korea-Japan relations. "The Korea-U.S. relationship has been strengthened into a comprehensive alliance that integrates security and economy," said an official from the presidential office. The leaders of the United States and South Korea held a summit meeting 11 days after the inauguration of the Yoon Suk-yeol administration in May, followed by the NATO summit in June and the United Nations General Assembly in September to agree on comprehensive economic cooperation.
A Korean War veteran who left only nails and toenails returns to family
A South Korean soldier who died fighting the communist forces in the Korean War has returned to his family in more than 70 years. According to The Ministry of National Defense of Agency for KIA Recovery and Identification (MAKRI) on Tuesday, the remains of the ROK Army recovered from Sin-ri, Pyeongchang County, Gangwon Province in July 2020 were identified as Army Sgt. Song, Byeong-seon. After losing his father at 15, the native of Ongjin County, Incheon became the de facto head of the household responsible for his mother and sister. He married at 20 and started a family.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Shinhan Bank ups Kangaroo offering, confirming robust demand for Korean papers
Shinhan Bank on Tuesday has scaled up its overseas offering to sell 400 million Australian dollars ($260 million) worth Kangaroo bonds upon doubled subscription to suggest recovered offshore demand in South Korean top-tier debt despite signs of liquidity squeeze in Korean Inc. The Korean lending major was able to price three-year Kangaroo bonds worth $400 million Australian dollars 1.95 percentage points above the three-month Australian interbank rate, or a coupon rate of 5.01 percent for the first three months.
Heungkuk Life to call on $500 min perps via funding by parent, repos
South Korean authorities and the major shareholder of Heungkuk Life Insurance Co. stepped in to contain the widening jitters over Korean debt so that the insurer exercises the right to buy back $500 billion 30-year bonds issued in 2017 on the first option date on Wednesday. The midsized insurer’s notice to global investors about its forfeiture on the first call option falling five years after the issue through a filing to the Singapore Exchange earlier this week aggravated scare over Korean papers at a time when the Korean debt market has come to a standstill after a default declare by a municipal bond related to Legoland Korea project financing.
Korea’s current account returns to surplus in September
South Korea’s current account balance returned to a surplus in September on improvement in goods account, but with the black figure off by nearly $9 billion from a year-ago period due to expensive imports and weaker currency. The Bank of Korea said Tuesday that the September current account generated a surplus of $1.6 billion, compared with a $3.05 billion deficit in the previous month. Against a year ago, the gain is a digit smaller, losing as much as $.8.9 billion from $10.5 billion.
HanKyoReh Shinmun (http://english.hani.co.kr)
Itaewon disaster started with police putting presidential office’s security ahead of public’s
The last message radioed by Seoul Metropolitan Police Agency (SMPA) chief Kim Kwang-ho at 8:32 pm on Oct. 29 before he left for the day was one of encouragement for police officers who were watching demonstrations. At 9:24 pm that day, Yongsan Police Station captain Lee Im-jae was eating at an ox bone soup restaurant after finishing up his demonstration management duties. Even as calls were pouring into emergency services warning of the risk of an imminent crowd crush disaster, the focus of the police leadership was squarely on policing demonstrations.
Birth of the 6:34 Generation
At 6:34 pm on Friday, Oct. 4, the sidewalk outside Exit 4 of Itaewon Station, Seoul, was lined with young people. They were dressed in black. They were silent. They did not make eye contact. Their gazes were fixed in the middle distance, as if in a trance. Masks covered their faces and hid their emotions. I imagine the expressions behind the masks were a mix of grief and anger, sorrow and rage, an emotional borderland that many of us are traversing right now. The young people were holding hand-written signs. The signs said things like: “There was nothing wrong with attending the Halloween party. The government must be held accountable and properly apologize for the Itaewon tragedy! — 2030 political community, Youth Movement”
Yongsan police chief and other local officials booked in investigation of Itaewon disaster
The National Police Agency (NPA) special investigation team looking into the deadly crowd crush in Seoul’s Itaewon neighborhood on Oct. 29 has launched a full-scale investigation into the chief of Yongsan Police Station, the chief of Yongsan Fire Station, and the head of Yongsan District Office, renaming all three as suspects. The team will see whether the trio — who were primarily responsible for public safety and emergency management before, during, and after the Halloween tragedy — had made proper preparations prior to the accident, and whether they had properly responded to the accident itself.
The KyungHyangShinmun (http://english.khan.co.kr/)
Unsettling Trains: Korail Trains Derailed 12 Times This Year Alone
Last weekend, a fatal accident killed a Korail worker and a Korail train derailed shaming the instructions of Minister of Land, Infrastructure and Transport Won Hee-ryong “to carefully prevent safety accidents.” Railroad workers on the field had constantly demanded improvements in their working environment, but the company did not take proper action using costs as an excuse, eventually drawing criticism that such lack of action led to human injuries and deaths. According to the Korea Railroad Corporation (Korail) on November 7, there were fifteen derailments (including quasi-accidents), which could have led to a massive disaster, from January to September 2022.
PPP Ethics Committee to Launch Disciplinary Procedure Against Park Hee-young, Chief of Yongsan-gu, Who Argued Halloween Was “Not a Festival, But a Phenomenon”
The People Power Party (PPP) Ethics Committee is expected to launch disciplinary procedures against Park Hee-young, chief of the Yongsan-gu Office, who stirred controversy after claiming that the crowd gathering in Itaewon for Halloween, which caused the tragic incident, was “not a festival, but a phenomenon.” According to a PPP insider on November 8, the party’s ethics committee will soon hold a meeting to determine whether to launch disciplinary action against Park Hee-young, a party member.
President Yoon, “We Will Hold Accountable the People Responsible for the Tragic Incident According to the Investigation Result”
On November 7, President Yoon Suk-yeol spoke about the Halloween crowd crush in Itaewon that occurred on October 29 and said, “According to the results (of the investigation), we will strictly hold accountable the people who were responsible.” This morning, the president presided over a meeting to inspect the national safety system in the Office of the President in Yongsan and said, “We will make sure that the investigation into the latest tragic event will be conducted thoroughly. We will disclose the process to the citizens transparently, not leaving a speck of suspicion.”
KBS(http://world.kbs.co.kr/service)
Prosecutors Raid House, Office of DP Chair's Close Aide
Prosecutors raided the house and office of a close aide of main opposition Democratic Party(DP) Chairman Lee Jae-myung in a probe of bribery allegations. The Seoul Central District Prosecutors' Office on Wednesday morning sent investigators to the house of Jeong Jin-sang, the head of the party chair's policy coordination office. Prosecutors and investigators were also sent to the DP headquarters in Yeouido, where Jeong's office is located.
US Begins 2022 Midterm Elections
The midterm elections are under way across the United States, with the outcome of Tuesday’s elections likely to determine the balance of power in Congress. The election first kicked off in the eastern state of Vermont at 5 a.m., Eastern Time, with most other states beginning between 6 and 8 a.m. and ending first in Kentucky and Indiana at 6 p.m. before most other states close their polling stations at 7 or 8 p.m. Preliminary election results are expected to come as early as 8 p.m., with more specific results likely to come late at night at the earliest.
Interior Minister: Gov't to Devise Comprehensive Safety Measures by End of Year
The government plans to devise comprehensive disaster and safety measures by the end of the year to prevent a recurrence of the Itaewon crowd crush. In his opening remarks at a meeting on Wednesday, Minister of the Interior and Safety Lee Sang-min announced that a pan-government task force will be established to overhaul the country’s disaster and safety management system. The interior minister said that to that end, the government will devise comprehensive safety measures by the end of the year, which will include steps to improve the initial response system.
Yonhap (http://english.yonhapnews.co.kr)
Main opposition headquarters, home of close aide to party leader raided over bribery allegations
Prosecutors raided the headquarters of the main opposition Democratic Party and the home of one of party leader Lee Jae-myung's closest confidants Wednesday over suspicions that he received bribes from real estate developers. The Seoul Central District Prosecutors Office sent investigators to the house of Jeong Jin-sang, a vice chief of staff to Lee, to seize evidence related to the allegations, officials said. Prosecution investigators were also sent to search the DP headquarters in Seoul's Yeouido, where Jeong's office is located.
Top regulator, bank chiefs vow to cooperate in stabilizing debt market amid credit crunch woes
South Korea's top financial regulator on Wednesday asked for local banks' cooperation in stabilizing the corporate bond and short-term money markets and helping money flow to businesses and small merchants in need. Kim Joo-hyeon, head of the Financial Services Commission (FSC), made the request in a meeting with chiefs of major commercial banks amid worries over a credit crunch sparked by a series of market-destabilizing events, including the Legoland-linked debt default.
Yoon to visit Cambodia, Indonesia for ASEAN, G20 summits
President Yoon Suk-yeol will visit Cambodia and Indonesia starting later this week to attend a series of regional summits involving the Association of Southeast Asian Nations and the Group of 20, his office said Wednesday. Yoon will leave for Phnom Penh on Friday and attend a South Korea-ASEAN summit, an ASEAN Plus Three summit and the East Asia Summit during a three-day stay, national security adviser Kim Sung-han said during a press briefing.
The Korea Herald (http://www.koreaherald.com)
Top regulator, bank chiefs vow to cooperate in stabilizing debt market amid credit crunch woes
South Korea's top financial regulator on Wednesday asked for local banks' cooperation in stabilizing the corporate bond and short-term money markets and helping money flow to businesses and small merchants in need. Kim Joo-hyeon, head of the Financial Services Commission, made the request in a meeting with chiefs of major commercial banks amid worries over a credit crunch sparked by a series of market-destabilizing events, including the Legoland-linked debt default.
S. Korea's on-year job additions slow in October amid uncertainties
South Korea added jobs for the 20th straight month in October, data showed Wednesday, but the growth continued to slow for the fifth month in a row as the country braces for a possible recession amid high inflation and slowed growth. The number of employed people stood at 28.41 million last month, up 677,000 from a year earlier, according to the data compiled by Statistics Korea. It was the largest on-year growth for any October since 1999.
US monitoring N. Korea's covert operation to supply artillery shells to Russia: Pentagon
The United States is closely watching the suspected delivery of North Korean artillery shells to Russia, a Pentagon spokesman said Tuesday after Pyongyang dismissed US reports that it may be covertly supplying arms to Russia for use in Ukraine. Defense department spokesman, Brig. Gen. Pat Ryder, however, declined to comment when asked if the shipments have been received by Russia. "I am not going to have anything new to provide beyond what the NSC (has said), and as you highlight, the information we have is that the DPRK is covertly supplying Russia with a significant number of artillery shells,"
The Korea Times (http://www.koreatimes.co.kr)
Foreign residents struggle to cope after Itaewon tragedy
The Itaewon tragedy left 156 people dead, an infamous figure now commonly known across Korea with countrywide vigils being held for all to pay their respects. The forgotten figure belongs to those presently dealing with psychological trauma. Coping with waves of flashbacks will be a new reality for many. "I saw a street lined with dead bodies. Civilians were giving CPR but it was too late at that point. I can't sleep. I remember that street and those bodies, and I remember the screams," a Canadian eyewitness told The Korea Times.
Gov't prepares to set up migrant policy agency
The Ministry of Justice is speeding up its plan to establish a new government agency for migrant-related policies, with the aim of coming up with detailed measures by early 2023, according to the ministry, Tuesday. The ministry will create a task force under the supervision of the Korea Immigration Service (KIS) Commissioner, consisting of eight officials, which will draw up the detailed roles and size of the organization. The team will operate for six months from mid-November, and the duration may be extended if necessary.
Trump's likely 2024 run looms over US midterms
Donald Trump's influence loomed large as Americans voted Tuesday in midterm elections that could kickstart any bid to return to the White House in 2024 ― or, if his loyalists perform badly, derail it entirely. While the former president's name is not on any ballot, scores of Republican candidates are carrying his personal endorsement in a litmus test for his popularity. At the tail end of his final campaign rally on the eve of voting, Trump grabbed the national spotlight by saying he would make a "very big announcement" in Florida next week.
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Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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