The Korean daily media headlines and humor
Wednesday, March 15, 2017
Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:
Very Respectfully Yours
Korea Post Media
Comic strip by Artist Park Sun-chan entitled ‘Chang Do-ri’ published by
Korean-language Daily, Kyunghyang Shinmoon, dated March 15, 2017
Left: During the past 9 years under the rule of Presidents Lee Myung-bak and Park Geun-hye,
Rough-necks grabbed the control of the construction industry, the poor beame poorer, enormous
Amount of money were poured into the defense industry and equally enormous
Amount of money were used in the so-called ‘resoucces diplolay’ where the justifiability is being
Right: Supposedly the controversial woman, Choi Soon-sil, is carrying the entire Presidency (Cheong Wa Dae)
In one spoon into her mouth. The table covered with the National Flag of Korea is named Food Table of Choi Soon-sil.
Left: People, young and old and women and men, are all smiles rejoining on the news of
The dismissal of President Park Geun-hye. They are saying, “Now we can breathe!”
Right: Now what’s happening?! In the place of Park appears Prime Minister Hwang Kyo-ahn.
He roars, “Nothing doing! I will never tolerate even one second of vacuum of the rule! Whang
Is carrying on his back all the members of the staff of former President Park. They had
Tender resignation en masse due of absence of justification to remain in the Presidential Office
After President Park was literally fired by a unanimous decision by all the members of the
Constitutional Court which is final under the provisions of the Construction.
Furthermore, Prime Minister Hwang is riding the U.S. THAAD missiles that are being laboriously
Carried by the Korean people.
I hope Excellencies and Madams will not miss
The Gala Gaya Culture Festival of Gimhae City on Sunday April 9
--Chairman Lee of The Korea Post media
Ambassadors and Madams are invited to the famed 2017 Grand Gaya Culture Festival of the Gimhae City on Sunday April 9, 2017.
As the suzerain state of six Gaya Kingdoms and royal capital of Geumgwan-Gaya founded in 42 A.D., Gimhae is the cradle of the Gaya culture. These small ancient states include Ara Gaya, Goryeong Gaya, Dae Gaya, Seongsan Gaya, Bihwa Gaya and Geumgwan Gaya, which formed a confederation dominated by Geumgwan Gaya. With a 500-year long history, Gaya Kingdoms created ingenious and brilliant pottery and ironware culture based on affluent iron products and outstanding iron-making technology. Taking geographical advantages, these Gaya Kingdoms actively traded with China, Japan and Nakrang as the center of international trade in Northeast Asia. Active international marine trade and exchange of these ancient states with foreign countries can be well explained by the international marriage between King Suro, the founding king of Geumgwan-Gaya, and Princess Heo Hwang-ok of Ayodhya Kingdom in India. (Scroll down to the bottom for more information and invitation.)
Royal procession of King Suro of the Gaya Kingdom
What’s ticking in Korea today?Here is a quick roundup of important news stories from the major Korean news media today:
Prosecution Set to Interrogate Ex-President Park as Suspect
The prosecution says it will send its summons to former President Park Geun-hye around Wednesday.An official at the prosecution's special investigation unit told reporters on Tuesday that it will finalize its summons schedule by Wednesday and deliver the notice to Park on the same day.The official said that the former president will be questioned as a suspect in the investigation into the Choi Soon-sil scandal. The official said that the prosecution is not in talks with Park’s side to decide on the date and it will simply notify her.
Presidential Hopefuls of DP Hold Joint Debate
Presidential hopefuls of the Democratic Party took part in a joint debate on Tuesday, ahead of the party’s presidential primary to select its candidate.Former party chief Moon Jae-in, South Chungcheong Governor An Hee-jung, Seongnamayor Lee Jae-myung and Goyang Mayor Choi Sung held a heated discussion at the debate jointly organized by KBS and four other major broadcasters.During the debate held at KBS in Seoul, Moon said that a new Korea is where justice, fairness and common sense work, which will only be possible when his party wins the presidential election, adding that he is ready.
IMF Lowers S. Korea's 2017 Growth Outlook from 3% to 2.6%
The International Monetary Fund(IMF) has lowered its outlook on South Korea’s economic growth for this year to two-point-six percent.The global lender on Tuesday released its revised economic growth forecast for major economies ahead of a two-day meeting of G20 financial ministers and central bank governors in Germany set to begin on Friday.The latest IMF figure for South Korea is zero-point-four percentage points lower than the previous prediction made in October.
BOK to Launch Project to Reduce Use of Coins
The Bank of Korea plans to launch a pilot project to sharply reduce the use of coins and ultimately realize a coinless society.Starting next month, consumers can transfer small change from purchases of goods onto their credit cards at convenience stores nationwide.With fewer and fewer people actually using coins in transaction, the central bank only manages to collect about ten percent of the coins in circulation each year.
U.S. shouldn't rush to relist N. Korea as terror sponsor: ex-State Department official
The United States should not rush to re-designate North Korea as a state sponsor of terrorism because the move could deteriorate the already-high tensions on the Korean Peninsula to spin out of control, a former senior U.S. diplomat said Tuesday.Calls for adding Pyongyang back to the State Department's list of terrorism sponsoring nations have gained significant traction in the wake of the killing in Malaysia of Kim Jong-nam, the half brother of North Korean leader Kim Jong-un.
S. Korea's jobless rate hits over 7-year high in Feb.
South Korea's jobless rate rose to an over seven-year high in February amid an increased youth unemployment rate, government data showed Wednesday.The unemployment rate in Asia's fourth-largest economy stood at 5 percent last month, edging up 0.1 percentage point from the same month last year, according to the report compiled by Statistics Korea.From a month earlier, the rate also jumped 1.2 percentage points from 3.8 percent.
N. Korean banks still remain on SWIFT financial network despite U.S. sanctions
Four North Korean banks still remain on the global financial messaging network SWIFT despite U.S. sanctions on the institutions for their links to Pyongyang's weapons programs, a news report said Tuesday.
The Wall Street Journal cited unidentified people familiar with the network saying that the North's Foreign Trade Bank, Kumgang Bank, Koryo Credit Development Bank, and North East Asia Bank still remain on SWIFT.
U.S. urges N. Korea to release detained American college student
The State Department on Tuesday urged North Korea to free an American college student detained in the communist nation for more than a year.The University of Virginia student, Otto Warmbier, was arrested in January 2016 while on trip to the North for allegedly stealing a political propaganda sign from a hotel. He has since been sentenced to 15 years of hard labor."We believe that he's being held unjustly. He's gone through the criminal process, and he's been detained for, as you noted, more than a year. We believe his sentence of 15 years hard labor is unduly harsh -- harsh, rather, for the actions that Mr. Warmbier allegedly took," State Department acting spokesman Mark Toner said at a regular briefing.
The Korea Herald (http://www.koreaherald.com)
Seoul, Washington step up diplomacy on THAAD row, NK
Seoul and Washington are ramping up diplomacy with a series of high-level talks amid North Korea’s evolving threats and China’s economic retaliation over a plan to install a US missile shield here. US Secretary of State Rex Tillerson is scheduled to arrive in Seoul on Thursday as part of his maiden Asia tour that includes stops in Tokyo and Beijing starting Wednesday. He is expected to visit acting President Hwang Kyo-ahn and hold talks with Foreign Minister Yun Byung-se.
Korean companies anxiously await Chinese consumer day
Korean companies with business interests in China anxiously awaited the World Consumer Rights Day set for March 15, as they anticipated heavy blows from the Chinese government in retaliation for Korea’s installment of a US anti-missile defense system.March 15, or World Consumer Rights Day, is an annual event in which particular companies are called out and exposed for bad practices. Previous corporations that have been featured on the “3.15 Gala” show aired on Chinese network CCTV for practices that hurt consumers have included Apple, McDonald’s and Mercedes.
Presidential election campaign gains momentum
With a maximum of 55 days left to the election, South Korea’s presidential hopefuls sped up preparations for their campaigns Tuesday, with some declaring their bids in the race and others registering their primary candidacy with the election body.The government has yet to finalize when the nation will elect the successor of Park Geun-hye, who was removed from her position Friday over a corruption scandal, but May 9 is widely seen as the most feasible date.
Korea-US FTA, a win-win deal clouded by uncertain future
Even though some observers foresee a renegotiation of the South Korea-US free trade agreement, which went into effect five years ago today, experts here and in the US said the bilateral deal has benefitted both countries, perhaps even more so the US.After almost six years of bumpy negotiations, the South Korea-US FTA, also known as the KORUS FTA, went into effect on March 15, 2012. The Ministry of Trade, Industry and Energy said Tuesday the KORUS FTA has proven to be a win-win deal by cushioning external conditions such as globally slow demand and bringing distinctive benefits to each country.
The Korea Times (http://www.koreatimes.co.kr)
Questioning of Park Geun-hye imminent
The prosecution will notify former President Park Geun-hye, Wednesday, of the date she will be called in for questioning on allegations made against her.Speaking to reporters, Tuesday, a prosecution official said it will ask her to come to the Seoul Central District Prosecutor's Office for questioning as a key suspect in the major influence-peddling and corruption scandal involving her confidant Choi Soon-sil."The date will be determined and she will be notified tomorrow," the official said.
Park's abandonment of pet dogs causes uproar
Former President Park Geun-hye may face a lawsuit for allegedly abandoning her dogs that she used to look after at the presidential residence.An animal rights group filed a complaint with the prosecution, Monday, to investigate Park's alleged violation of the Animal Protection Law.One day after the former head of state returned to her private home in southern Seoul following the Constitutional Court's ruling, a Cheong WaDae official told reporters she had not taken her nine dogs.
Diplomacy only viable option to prevent nuclear war in Korea
Living in constant fear of invasion by the North after the Korean War ended in a truce in 1953, South Koreans ironically appear doubtful whether there will be a second conflict on the peninsula.It is a coping system of sorts without which many of them could have gone mad, considering the crazy quilt of micro-attacks, some of them fatal, Pyongyang has inflicted on the South through its three generations of despots the latest being the 33-year-old dictator Kim Jong-un, who doesn't pale in ruthlessness compared to his father and grandfather
Seoul stocks extend rally as uncertainty eases
Seoul stocks rallied to a 22-month high as political uncertainty eased following the Constitutional Court's ruling to remove President Park Geun-hye, analysts say.The KOSPI closed at 2,133.78, up 0.76 percent on Tuesday, the highest since May 27, 2015, when it hit 2,134.95. The tech-heavy KOSDAQ dropped 0.24 percent to 614.12.Foreign net-buying of major blue chips, including Samsung Electronics, helped boost Seoul stocks as they turned bullish after Park was ousted."An inflow of foreign capital into the stock market could continue as political uncertainty eased," said Sun Sung-in, an analyst at Shinhan Investment.
S. Korea, U.S., Japan conduct a missile defense drill
The Republic of Korea Army announced on Tuesday that the Aegis-equipped vessel of Korea, the U.S., and Japan will conduct a missile defense drill on Wednesday at the seas nearby South Korea and Japan to prevent the North's possible ballistic missile launch.As the fourth drill to be held since June last year, the three countries will detect and share intelligence on the flight orbit of virtual target (or North Korean missile) backed by computer simulation on the Aegis vessel. South Korea’s The King Sejong, Japan’s Maritime Self-Defense Force Kirishima, and the American USS Curtis Wilbur will participate in this drill.
Baekje history exhibiton debuts in Gyeongju National Museum
A special exhibition on Baekje will be held for the first time in Gyeongju, the capital city of thousand years.TheGyeongju National Museum is currently opening “Baekje, Historic Area of World Heritage” in commemoration of the inscription on UNESCO’s World Heritage List in 2015. The exhibition comes as a meaningful event, shedding light on Baekje, the arch rival of Shilla at Seorabeol, the heart of Gyeongju.
The exhibition will cover the 200 turbulent years of Baekje, from the continuous transfers of capital to Woongjin (currently Gongju, 475 A.D.) and Savi (currently Buyeo, 538 A.D.), to the fall of the nation (660 A.D.) and its national reconstruction (663 A.D.).
Movable median bus stops to debut in Seoul’s Jongno
Movable median bus stops will be installed in Jongno, Seoul. Ten bus stops will be put in place at a new 2.8-kilometer median bus-only lane section extending from SejongdaeroSageori (intersection) toHeunginjimun gate in JongnoDistrict.The conventional bus stops were built as a fixed platform with elevated asphalt and structure. Once built, the bus stops cannot be relocated or disassembled. However, the mobile bus stops that the Seoul metropolitan city is to install by year’s end will be installed by assembling five to six blocks. When there is a parade on the entire street for an international event or cultural event, the mobile platforms can be removed by a folk lift to roadsides.
Trump, Xi to hold summit to address THAAD in April
U.S. President Donald Trump and Chinese President Xi Jinping will hold their first summit next month in the U.S., and discuss geopolitical situations on the Korean Peninsula including the deployment of the Terminal High Altitude Area Defense missile system in South Korea. The summit is taking place when South Korea, the most important party to the discussions, is devoid of its central command for diplomacy due to President Park Geun-hye’s impeachment, and during the presidential election campaign when limited capacity in state administration will be focused on management of the upcoming election.
China Sets up More Long-Range Radars
China has installed powerful radars with a detection range of 3,000 km so they can spy on South Korean and Japanese military maneuvers, Chinese media reported Monday. The move comes amid a spat with Seoul over the stationing of a Terminal High-Altitude Area Defense battery from the U.S. here whose powerful radar Beijing fears could be used to spy on its own military activities.The reports said China installed an Over The Horizon or OTH radar in Inner Mongolia in January. Unlike conventional radar signals that pass through the atmosphere, OTH signals bounce off of the earth's ionosphere 100 to 450 km above the surface to detect targets 3,000 km away.
Big Contingent of U.S. Special Forces Joins Regular Drills
The U.S. unit that assassinated Osama bin Laden is among a huge contingent of special forces taking part in this year's joint exercises with South Korea.They will join their South Korean counterparts in strike drills including "decapitation" operations aimed at removing the North Korean leadership in a war.South Korea and the U.S. are putting on their biggest show of force so far against the North, with South Korean Air Force fighter jets staging precision strike drills since last Friday.
Choi Soon-sil in Confused Apology After Park's Ouster
Ex-president Park Geun-hye's friend Choi Soon-sil has reacted with dismay to the ouster of her longtime protector, making a confused stab at an apology in her corruption and influence-peddling trial on Monday."I am so sorry to the public that we are sitting here as part of the corruption scandal," Choi told the Seoul Central District Court while questioning a witness. "I am very perplexed."Choi is being tried on charges that she colluded with Park and two former Cheong WaDae aides to extort billions from major conglomerates.
New U.S. Drones Deployed in S.Korea
The U.S. is deploying new missile attack and surveillance drones known as MQ-1C Gray Eagles at an airbase here. The Gray Eagles have started arriving at the U.S. airbase in Gunsan, North Jeolla Province, where they will be attached to the 2nd U.S. Infantry Division, a spokesman said Monday.The Gray Eagle is an 8 m-long medium-altitude drone with a 17-m wingspan, an improved version of the Predator drones that the U.S. used with mixed success to assassinate Taliban leaders in the Afghanistan wars.
Citizens gasp as Park Geun-hye is unrepentant to the very end
On the evening of Mar. 12, AhnJi-hun, 34, watched a live broadcast of former president Park Geun-hye returning to her home. Perhaps because of Park’s personal history, Ahn had felt a little compassion for her. But now, he says, that compassion is gone.“Seeing her smiling as she reached her house sent chills down my spine. It was so shocking,” Ahn. “When I saw pro-Park lawmakers gathered in front of her house to welcome her, it felt like she was a president who had finished her term in office or a leader who was being oppressed. My feelings of pity shriveled up.”
Park’s ouster leaves next administration with diplomatic and security headaches
The four years of the Park Geun-hye administration left the diplomatic and security environment around the Korean Peninsula worse off than before. South Korea-China relations celebrated a high-water mark in Sep. 2015 with Park’s attendance at a celebration of China’s World War II victory, at Tiananmen Square in Beijing. These days, they are in dire straits over the unilateral decision to deploy a THAAD missile diplomacy system in South Korea.
With Park Geun-hye out of the Blue House, what will happen to her dogs?
When Park moved to her private home in Seoul’s Gangnam District on Mar. 12, she didn’t bring her pet dogs Saerom and Heemang (the names mean “new” and “hope”) and their seven pups. An animal rights group has accused Park of abandoning her pets, and a group in Busan has even lodged a legal complaint, accusing Park of violating the Animal Protection Act. The Blue House said that it’s looking into ways to find a new home for the pets.
China carrying on with economic retaliation over THAAD
“The nature of our business is such that we still have our regulars coming in, but we’re not getting any new customers anymore. They find out it’s a South Korean business and they don’t come.”This was the account on Mar. 12 from “S,” a hair designer for a Korean-run beauty establishment in downtown Beijing. Only the manager is Korean; all of the other staff members are Chinese. Yet the shop has still recently been suffering the effects of retaliation as the deployment speeds up for the THAAD system in South Korea.
Prosecutors to summon Park as a suspect
Prosecutors will announce Wednesday when they want to question former President Park Geun-hye as a suspect in abuse of power and corruption allegations.A special investigation team headed by the Seoul Central District Prosecutors Office chief Lee Young-ryeol said Tuesday it will describe today its plans to go after Park. The team will decide today a date for her to be questioned and notify the ex-president.No negotiations will take place with Park’s associates or attorneys on the terms for the questioning, a prosecution source said. “She will be summoned as a suspect,” he said.
Seoul rolls out a preemptive defense of FTA with the U.S.
An American company that imports processed aloe drinks from Korea was able to push an aggressive marketing and growth strategy that got the drinks into WalMart and Sam’s Club thanks to the lifting of custom duties since the bilateral free trade agreement between Korea and the U.S. kicked in five years ago. An American company that supplies panels and boards for ships once used Chinese products because they were cheap.
U.S. to send Gray Eagle drones to South Korea
The U.S. Army has begun the process to permanently station unmanned attack drones in South Korea to better respond to North Korean provocations, State Department acting spokesman Mark Toner said Monday during a press briefing in Washington. A Gray Eagle Unmanned Aerial Systems company will be established at Kunsan Air Base in Gunsan, a coastal city 150 miles south of Seoul in North Jeolla, said Toner. According to a statement by the U.S. Forces Korea, the company will be assigned to the 2nd Combat Aviation Brigade of the 2nd Infantry Division.
Families spending more on education, gov’t says
Korean families’ expenditure on private educational services including tutoring and after-school classes rose for the first time in seven years last year even though the number of students continues to fall in the country, new data showed Tuesday, suggesting that families, especially wealthy ones, are spending more on their children compared to the past.Statistics Korea, the national government’s statistics agency, surveyed families with students in elementary, middle and high schools and looked at their spending on services outside of school.
Liberty Korea Party Astounded at Park's Outrageous Appeal; Opposition Parties, "Change of Government No Matter What"
On March 13, a "Park Geun-hye bomb" dropped ahead of an early presidential race. The day before, former President Park appealed to the Constitutional Court's decision to dismiss the president and resisted the prosecutors' investigation and public opinion along with some pro-Park lawmakers, making it clear that she intended to engage in a long battle. Park's stance has emerged as a variable in the early presidential election.
Does It Make Sense for Acting President Hwang to Run in the Presidential Election?
Acting President Hwang Kyo-ahn is contemplating whether to run in the upcoming presidential election. Reportedly, he had set no official appointments for three days until yesterday observing the situation and has been pondering whether he should remain as acting president or run as a candidate in the presidential election. Since he has to hold a temporary cabinet meeting this week and announce the date of the presidential election, he must hurry to decide whether he himself will run as a candidate.
Former President Park Challenges the Constitution by Disobeying the People
Former President Park Geun-hye left Cheong WaDae and returned to her home in Samseong-dong, Seoul on the evening of March 12. With a smile, she greeted every Liberty Korea Party lawmaker and supporter who had been waiting in front of her house. She showed no signs of reflection or apology. Park said, "I will go bearing all the consequences. It may take some time, but I believe that the truth will be revealed." However, even these words did not come directly from her mouth.
South Korea Koreas Tenions
Proesters stage a rally to oppose a plan to deploy an advanced U.S. missile defense system called Terminal High-Altitude Area Defense, or THAAD, and joint military exercises, dubbed Key Resolve and Foal Eagle, between the U.S. and South Korea, in front of the Defense Ministry in Seoul, South Korea, Tuesday, March 14, 2017. The United States on Wednesday, March 8, rejected China's proposal for a halt to joint U.S.-South Korean military exercises if North Korea suspends its nuclear and missile activities.
The Korea Economic Daily (http://english.hankyung.com/)
Country That Takes 15 Years to Build a Cable Car Line
The project to build a cable car in Mt. Shinbul near Ulsan has passed the government's first environmental regulatory hurdle. The request made by the Ulsan city government to install a cable car system between Yeongnam Alps Welcome Center and Ganwol Pass has been received by the Ministry of Environment. It has been 15 years since the city government kicked off its effort in 2002.The city authorities said on March 14 that they have completed the discussion with the Nakdong Estuary Environment Administration for the environmental impact evaluation draft. The Environment Ministry had rejected the city's requests several times and advised it to come up with an environmental impact evaluation as a precondition for the final permission.
Yeongjong Island's Midan City to Break Ground within 1H This Year
A project to build a casino resort in Incheon's Yeongjong Island is likely to be kicked off soon. It has been four years since the project secured a permission from the Ministry of Culture, Sports, and Tourism. LOCZ Korea Corp., the company responsible for undertaking Midan City in an island where Incheon International Airport is located, said on March 14 that it has paid off all money due for the 25,500-square-meter site.
Bank of Korea's Household Statistics Mishap May Be Reflection of Its Organizational Culture
The Bank of Korea announced on March 14 that it would replace the senior manager of financial statistics and relieve the duty of the financial statistics team head for releasing mistaken household debt figures. The central bank also reprimanded the director of economic statistics and the same division's junior manager.The unusually harsh personnel measure came after the bank caused a stir for its erroneousannouncement on March 9. At the time, the bank revised its announcement that the household loan balance of savings banks has increased by 977.5 billion won in January to 505.8 billion won within 4 hours.
Manufacturing Jobs Continue Downward Trend for 3 Straight Months
The number of people employed by the manufacturing sector declined for three consecutive months starting from December 2016, primarily due to the restructuring of the shipbuilding industry. According to the labor market trend for February 2017, issued on March 13 by the Ministry of Employment and Labor, the number of full-time regular workers hired by the manufacturing sector stood at 3,578,000, down 1.7 percent or 1,700 from a year ago.
AJU Business Daily (http://eng.ajunews.com/korea)
China's doublestar upbeat after securing controlling stake in Kumho Tire
China's Doublestar vowed to become a global player after it signed a deal Monday to acquire a controlling stake in South Korea's second-largest tire maker Kumho Tire. It was this year's first major Chinese investment in South Korea which has been locked in a diplomatic row over the deployment of a US missile shield.Doublestar said it signed a share purchase agreement with creditors of Kumho Tire to secure a 42.01 percent stake for 955 billion won ((838 million US dollars).
IOC chief highlights Pyeongchang's role in S. Korea politics
With South Korea reeling from the ouster of the president, the Winter Games to be held in the country next year will help unite the people here, the global Olympic chief said Tuesday.Thomas Bach, president of the International Olympic Committee (IOC), said the Olympic Games have the power to bring people together, and the 2018 Winter Olympics in PyeongChang, some 180 kilometers east of Seoul, will come at "an important moment" for South Korea.
S. Korean search giant unveils new web browser 'Whale'
In an attempt to check Google's prolonged dominance, South Korea's largest search portal Naver kicked off an open beta service Tuesday for its own web browser "Whale", a variant of Chrome, to offer fast internet surfing and emulated mobile web browsing.Naver was upbeat because its browser received positive and meaningful feedbacks in beta tests throughout last year. Whale is the first web browser developed by a South Korean company in the last ten years. Previous home-made browsers have been unsuccessful due to poor quality.
KT demonstrates S. Korea's first autonomous bus and delivery drone
South Korea demonstrated an autonomous bus and an autonomous parcel-delivery service drone that would make their combined debut during next year's Winter Olympic in the eastern ski resort of Pyeongchang.Using an ultra-fast fifth-generation (5G) mobile telecom network, telephone company KT Corp. plans to provide trial services for self-driving buses and drone deliveries in Pyeongchang from February 9 to 25 next year.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
LG Elec workplaces across Korea to be fitted with EV chargers with govt subsidy
South Korea’s LG Electronics Inc. will install electric vehicle (EV) charging stations at parking lots of its 16 workplaces across the nation by the end of this year, a project that will be subsidized by the government. LG Electronics announced on Tuesday that it signed an agreement with the Ministry of Environment to participate in the government’s campaign to expand EV charging infrastructure in the country at its campus of vehicle components division in Incheon on Monday.
Samsung Elec’s demerger plan would go on regardless of current affairs: CFO
South Korea’s Samsung Electronics will pursue with the plan of demerging into separate holding and business establishments regardless of the absence of the owner family leader as it had been a promise to shareholders, said Lee Sang-hoon, the company’s president and chief financial officer (CFO) told reporters Tuesday. Samsung Electronics has vowed to consider measures to improve management transparency by separating the business operation from a family-run holding entity.
Doosan Heavy to win a $260 mn order to upgrade power plant in Indonesia
South Korea’s Doosan Heavy Industries & Construction Co. has bagged a 300 billion won ($260 million) order to upgrade an existing power plant in Indonesia three months after it won a similar deal in the country, the company said Tuesday. Its consortium with state-owned construction company PT. HutamaKarya won the procurement from state-run Indonesian PLN to convert the 1,150-megawatt (MW) gas-fueled MuaraTawar generator to a 1,800 MW combined cycle plant.
Foreign ownership of Korean stocks hits new high of $444bn
Foreign ownership in Korean stocks hit a fresh record high of topping 510 trillion won ($443.6 billion) as of Monday after easing of political uncertainty following the Constitutional Court’s unanimous ruling to remove President Park Geun-hye. The Kospi ended Tuesday up 0.8 percent, or 16.19 points, at 2,133.78, a fresh high of this year, on foreign buying.According to the country’s securities exchange operator Korea Exchange (KRX) Tuesday, foreign investors net purchased 4.26 trillion won worth stocks of companies listed on the main bourse Kospi and secondary Kosdaq from the beginning of this year to March 13.
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To preserve the local culture as an outstanding world cultural asset
Gimhae City hosts a gala Gaya Culture Festival on April 9
Invites Ambassadors and Madams to grace the Opening Ceremony on April 9, 2017
As the suzerain state of six Gaya Kingdoms and royal capital of Geumgwan-Gaya founded in 42 A.D., Gimhae is the cradle of the Gaya culture. These small ancient states include Ara Gaya, Goryeong Gaya, Dae Gaya, Seongsan Gaya, Bihwa Gaya and Geumgwan Gaya, which formed a confederation dominated by Geumgwan Gaya. With a 500-year long history, Gaya Kingdoms created ingenious and brilliant pottery and ironware culture based on affluent iron products and outstanding iron-making technology. Taking geographical advantages, these Gaya Kingdoms actively traded with China, Japan and Nakrang as the center of international trade in Northeast Asia. Active international marine trade and exchange of these ancient states with foreign countries can be well explained by the international marriage between King Suro, the founding king of Geumgwan-Gaya, and Princess Heo Hwang-ok of Ayodhya Kingdom in India.
Royal procession of King Suro of the Gaya Kingdom
In an effort to preserve the Gaya culture as one of world cultural heritages and widely publicize excellence of the ancient culture, the Gimhae City government has been hosting the annual Gaya Culture Festival since 1962 on the occasion of the memorial service for King Suro in spring. As ever, the municipal government will host the 41st Gaya Culture Festival for 5 days from April 7th to 11th, 2017 to include the memorial service for the King set to be held on the last day of the Festival. With the concept of ‘Gaya in the World and United Gimhae’, the Festival will be highlighted by the ‘tug-of-war’ game and ‘procession parade of King Suro’.
Different teams of the Gaya farmers’ bands are reading to present demonstrations.
Colorful programs will be provided during the Festival at the Daeseong-dong Ancient Tombs, Gimhae National Museum and Tomb of King Suro. In addition to the tug-of-war game and king’s procession parade, programs will include folk art performances, experiences of ancient ironworks, voyage routes sailed by King Suro and Princess Heo Hwang-ok, excavation of historical relics and riding on rare horses, as well as art installation events, performance of martial arts on horseback, wish lamps with Gaya patterns, and multi-cultural social gatherings of youths. Among others, visitors will have an exotic experience of boarding a traditional Indian boat ‘Dhoni’ by sailing the voyage routes taken by King Suro and Queen Heo.
A tug of war joined by hundreds of citizens
In connection with the Festival, a number of other events will also be held simultaneously, including a local foods fair, international conference on Gaya history, contest of native foods, and folk arts festival of Gyeongsangnam-do region. The regional folk arts festival will include performances of intangible cultural property holders and performances of traditional art troupes from sister cities in Korea and other countries.
Gimhae Stone Fight is now a favorite game of merriment.
To help visitors have more enjoyable and exciting experiences, the festival organizing committee will deploy advanced information and communication technology installations in the venue. Using their smart phones or tablet PCs, visitors and tourists can get access to detailed information, statistical data, publicity materials and results of survey on the Festival by searching its QR code at information centers. It will also introduce an augmented reality (AR) game ‘Royal Capital of Gaya GO’, similar to ‘PocketMon Go’ game. If any visitors find out various historical treasures or relics through the game, they will be rewarded with due gifts.
Grand Rite of Chaste Woman Chunhyang offered to King Suro of the Garak State and his Queen Heo
The 40th Gaya Culture Festival held in April last year attracted as many as over 1.45 million visitors from Korea and other countries, and the Festival in this year is expected to attract even more visitors thanks to addition of varied new programs. The Gimhae City government seeks to register these cultural heritages as UNESCO’s World Cultural Heritages.
Night view of the Old Tombs in Daeseong-dong Village and the Daeseong History Museum. A grand opening ceremony is held at a special stage at the Daeseong-dong Tumuli
Your Excellency and Madam are cordially invited to the 2017 Grand Gaya Culture Festival on Sunday April 9
Your Excellency are Madarm are cordinaly invited to the above festival.
For details of the Festival, please visit: http://www.koreapost.com/news/articleView.html?idxno=3007.
It is a bit far, but a deluxe KTX Train travel is much more comfortable than bus ride. Here is the schedule:
0845 hours: Meet at the Seoul Railroad Station VIP Room, 3rd Floor of the Main Building.
0905-1147 hours: Move by Deluxe KTX train from Seoul to Gimhae.
1200-1230 hours: Move to the Ice Square Hotel for luncheon.
1230-1400 hours: Attend welcome ceremony, presentation of Plaques of Appreciation.
1400-1430 hours: Watch mounted Gaya Warrior performances, have personal experience in horse-riding.
1510-1700 hours: Join the Gimhae Tug-of-War match
1700-1800 hours: Watch traditional Korean music-dance performances based on Intangible National Cultural Properties
1800-2040 hours: Move from Gimhae back to the Seoul Railroad Station.
(A slight change could occur to the schedule depending on the traffic situation of the day.)