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The Korean daily media headlines and humor

The Korean daily media headlines and humor

Wednesday April 26, 2017

Your Excellency:

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

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

What’s ticking in Korea today? Here is a quick roundup of important news stories from the major Korean news media today:


The Korea Post media (www.koreapost.com) in English, (www.koreapsot.co.kr) in Korean.

KBS (http://world.kbs.co.kr/english/news/)

Nuke Envoys to Seek Unbearable Punishment if N. Korea Engages in Further Provocation

South Korea’s chief delegate to the six-way nuclear talks, Kim Hong-kyun, said Tuesday that he and his U.S. and Japanese counterparts agreed to seek unbearable punitive measures against North Korea if it goes ahead with more provocations. Kim met with U.S. Special Representative for North Korea Policy Joseph Yun and Japan's Director-General for the Foreign Ministry’s Asian and Oceanian Affairs Bureau Kenji Kanasugi in Tokyo. Kim, however, stopped short of elaborating on the strong measures, saying it is not appropriate to go into details. He only said that the three countries will seek stronger measures than those that have been used to pressure the North so far, including UN Security Council(UNSC) resolutions, various countries’ independent sanctions and the international community’s pressure.

Overseas Voting for Presidential Election Begins

South Koreans living overseas are heading to the polls on Tuesday to elect the next South Korean president. The six-day overseas voting for the May ninth presidential election began in a polling station set up at the South Korean diplomatic post in Auckland, New Zealand on Tuesday morning. A total of about 294-thousand South Korean nationals have registered for the overseas balloting, a record high number. A total of 204 polling booths in 116 countries will remain open between 8 a.m. and 5 p.m.

N. Korea Conducts Firing Exercises in Wonsan on Tuesday

A government official said South Korea has spotted signs of North Korea conducting large-scale firing exercises in parts of Wonsan, Gangwon Province on Tuesday which marks the 85th anniversary of the foundation of the North’s military. The North is said to have mobilized between 300 and 400 long-range artillery pieces. The long-range artilleries deployed along the inter-Korean border are known to put Seoul and surrounding regions within their range.

KOSPI Hits Yearly High

The benchmark Korea Composite Stock Price Index(KOSPI) reached a new yearly high on Tuesday, gaining 23-point-11 points to close at two-thousand-196-point-85. Foreign investors bought South Korean stocks for a third straight session leading to a one-point-06 percent increase. The tech-heavy KOSDAQ also rose five-point-95 points, or point-95 percent, to close at 632-point-57. On the foreign exchange market, the value of the local currency strengthened four-point-five won against the U.S. dollar, closing at one-thousand-125-point-four won.

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

THAAD equipment installation underway amid residents' protests

U.S. troops in South Korea began installing the equipment of an advanced missile defense system at a site in a southeastern region of the country, facing fierce protests from local residents. The overnight, unannounced operation came just six days after U.S. Forces Korea (USFK) secured the land in Seongju, North Gyeongsang Province, from the South Korean government. A joint environmental survey required under the bilateral Status of Forces Agreement (SOFA) is not done yet, according to officials.

Presidential candidates clash over security, job creation in 4th TV debate

The top five presidential candidates on Tuesday clashed over national security, job creation and economic polarization during their fourth televised debate with the election just two weeks away. During the nearly three-hour roundtable discussion hosted by local daily Joong-Ang Ilbo, its cable TV network JTBC and the Korean Political Science Association, the candidates converged on the need to bolster defense against a provocative North Korea, but remained different on the origins of the security crisis and how to tackle it. Front-runner Moon Jae-in of the liberal Democratic Party upbraided the preceding conservative governments for failing to rein in Pyongyang's military threats, calling right-wing candidates' much-vaunted security forte "fake."

N.K. leader watches live-fire drill on military anniversary

North Korean leader Kim Jong-un observed the largest-ever live-fire drill to mark the 85th founding anniversary of his armed forces, the country's state TV broadcaster said Wednesday. The North's leader watched the drill to mark the anniversary of the Korean People's Army (KPA) from an airfield in the eastern port city of Wonsan on Tuesday, according to the Korean Central TV Broadcasting Station. North Korea carried out a large-scale conventional arms exercise instead of staging another nuclear test or missile provocation. North Korea has detonated five nuclear devices since 2006 and test-fired several missiles this year.

Mortgage-backed deals rise in Q1, but pace of growth slows

South Korea's residential mortgage-backed securitizations slightly rose in the first quarter of this year, but the pace of quarterly growth slowed because of the government's efforts to curb mounting household debt, official data showed Wednesday. State-run Korea Housing Finance Corp. issued 9 trillion won (US$8 billion) in mortgage-backed securities during the January-March period, up 300 billion won from the same period a year ago, the Financial Supervisory Service (FSS) said in a statement.

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

THAAD equipment installation underway amid residents' protests

US troops in South Korea began installing the equipment of an advanced missile defense system at a site in a southeastern region of the country, facing fierce protests from local residents. The overnight, unannounced operation came just six days after US Forces Korea secured the land in Seongju, North Gyeongsang Province, from the South Korean government. A joint environmental survey required under the bilateral Status of Forces Agreement is not done yet, according to officials.

Anti-Moon coalition scheme emerges as big election variable

Alarm bells are ringing for front-runner presidential candidate Moon Jae-in, amid emerging signs of candidacy consolidation among conservative and moderate contenders. Two conservative camps -- Bareun Party and Liberty Korea Party -- are possibly forming an alliance for the May 9 election in order to block liberals from seizing power. The two parties split from the now-defunct former ruling Saenuri Party in the wake of former conservative President Park Geun-hye’s scandal. Bareun lawmakers played a part in passing the bill on impeaching then-President Park last December, while Liberty Korea Party members opposed it.

Seoul protests Tokyo’s renewed Dokdo claim

Seoul on Tuesday protested Tokyo’s intensified claim to the Korean islets of Dokdo in an annual diplomatic paper, which added to territorial and historical tension between the two countries. Japan’s Foreign Ministry reported to the cabinet its latest diplomatic bluebook, which argues Dokdo is the country’s “inherent territory” based on historical facts and international law, and calls last year’s visits to the islets by some Korean lawmakers “adamantly unacceptable.” Seoul’s Foreign Ministry instantly lodged a complaint, summoning Hideo Suzuki, a minister of the Japanese Embassy here.

Seoul unveils city’s first highway-turned-park

Modelled after New York’s iconic High Line, Seoul’s soon-to-open elevated park will bring visual and spatial respite to busy city life, with a stretch of greenery, cafes and street markets, the city government said Tuesday. Opening part of the “Seoullo 7017” on Tuesday, ahead of the official opening in May, Seoul Mayor Park Won-soon on Tuesday described the urban sky park as a place where “nature and humans can live side by side.”

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

Is N. Korea freaked out by surge of US strike assets?

U.S. strategic assets including a nuclear-powered submarine are gathering around the Korean Peninsula in a show of force against North Korea as the regime in Pyongyang celebrated the 85th anniversary of the founding of the Korean People's Army, Tuesday. The dispatch of advanced weapons comes amid growing worries that the North may conduct large-scale military provocations including a nuclear test to mark the event. As of Tuesday, the North showed no unusual movements other than conducting a live-fire drill near the eastern city of Wonsan, according to the Joint Chiefs of Staff.

USS Carl Vinson raises risk of Kim's miscalculation

The dispatch of the United States aircraft carrier the USS Carl Vinson will raise the risks of North Korean leader Kim Jong-un's miscalculation of threats to his regime, warned James D. Bindenagel, a former U.S. Ambassador to Germany. He said the dispatch draws a red line with unpredictable results, which he believes could lead to a military conflict. "The problem is that the Trump doctrine seems to be strategic impatience, which provides no analytical basis for policy. Consequently, decisions will be made based on action," Bindenagel said in an interview.

American arrested over election poster vandalism

Police have booked an American man, 64, who works as a part-time English instructor at Hongik University, for allegedly vandalizing a presidential campaign poster. Under Korean election law, unlawfully removing or vandalizing a political campaign poster can lead to a two-year jail term or a fine of 4 million won ($ 3,500). Mapo Police Station said on Monday the man allegedly tried to remove a poster from the side of his house on Apr. 21. His neighbors tried to stop him but he repeatedly said "my home" and continued to dismantle the poster before being arrested.

Korea uses visas to get tough on foreign tax defaulters

Foreigners who want long extensions to their visas will have to pay any overdue taxes. The Ministry of Justice (MOJ) said Monday it plans to increase tax collections from foreigners by restricting visa extensions for defaulters. Foreigners' tax arrears have amounted to over 10 billion won ($8.8 million), according to the Ministry of the Interior (MOI). "Foreigners who stay in Korea should pay taxes if they have a car or regular incomes," an MOI official said. "Some foreign businessmen default on their taxes because there was no penalty to prolonging their visa permit or flying back to their home countries."

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DongAIlbo (http://english.donga.com)

N. Korea conducts artillery drill for maritime targets

North Korea has intensified tension by conducting a massive artillery drill in areas near Wonsan, Kangwon Province on Tuesday, the founding day of the North Korean People’s Army. The South Korean military is gearing up preparation to counter the North’s possible surprise provocations with nuclear and missile test by keeping a close watch on related situations. According to the South Korean military authority, the North conducted a live fire drill by mobilizing its artillery forces including more than 300 to 400 units of long-range howitzers in areas around Wonsan on the day.

Is Real Madrid head coach Zinedine Zidane just about to decline?

Spanish media Marca conducted a survey in November last year asking "when was Real Madrid the most powerful during the last 20 years." Most people responded that it would be this season led by Zinedine Zidane. Back then, Real Madrid scored successive victories and remained on top. The situation reversed in five months, however. Zidane, once having enjoyed absolute trust, is on a decline. On Monday, FC Barcelona showed an effective performance at El Clasico thanks to Lionel Messi's two goals, stealing a win from Real Madrid at 3-2.

Seoul City marks top 10% of taxis with AAA certificates

People can easily notice taxies that make the top 10 percent among Seoul taxis with their excellent customer service. The Seoul Metropolitan City announced on Tuesday that the city government marked 2,377 taxies from 25 companies operating in Seoul with the most excellent (AAA) certificates on front window and vehicle light after assessing their service quality last year. The triple A mark indicates that the vehicle is outstanding in the categories of customer service, treatment of drivers, and business management.

Flying car’ comes into reality

A startup backed by Google’s X lab established by its co-founder Larry Page with an aim to secure the future technology unveiled the flying car. The New York Times reported on Monday (local time) that Silicon Valley startup "Kitty Hawk" recently completed its test flight of a prototype over a lake near San Francisco, California. The flying car is powered by eight battery-powered propellers with a contraption similar to a joy stick, can take off and land vertically, and move forward or backward while floating in the air. It looks like a small spaceship that Luke Skywalker and Anakin drove in the Star Wars movies.

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ChosunIlbo (http://english.chosun.com)

Korean Teenagers Study Hard But Feel Unhappy

Korean teenagers rank at the top in the OECD when it comes to academic performance but are among the unhappiest in the club of rich countries. They also start private tuition earlier than in any other country, suggesting that public education is failing them, talk less to their parents and spend the least time exercising. The OECD announced the 2015 PISA Student's Well-Being report last week based on surveys on 540,000 15-year-olds around the world. The categories were performance at school, life satisfaction, social life at school and use of time outside of school, and they ranked their responses on a scale of 0 to 10.

More Doctors, Fewer Teachers Needed in Future Job Market

The number of doctors, nurses and other health professionals will grow by around 100,000 by 2025, while schoolteachers and instructors at private crammers will dwindle by around 30,000, a state-run research institute forecasts. The Korea Employment Information Service said in a report Monday that the health and medical profession has the brightest outlook in terms of job growth. The number of required nurses will increase by 57,700 or at an annual rate of 2.5 percent, of doctors by 21,500 or 2.4 percent year, alternative medicine practitioners by 4,400 or 2.3 percent and dentists by 3,600 or 2.3 percent.

CEOs Get Older Again as Companies Tremble at Risk

The average age of CEOs at Korea's major businesses stood at an elderly 60 years this year as political and economic turmoil terrifies boards. According to New Management magazine, the average age of 123 CEOs at the top 100 companies is 60.6 years this year, the highest ever and crossing the age of 60 for the first time. The monthly has been keeping a tally for 24 years. The average age usually rises in financial crises, when board members cling to tried and tested executives, whether or not that is a rational decision.

Park Tries to Delay Court Appearance

Former President Park Geun-hye is asking a court to postpone her first pretrial hearing slated for May 2. Park's lawyer Yoo Yeong-ha signaled the plan at the Seoul Central District Court on Friday but did not submit an official application, court officials said. A member of her defense team said, "There's a mountain of records submitted by prosecutors to charge Park with 18 criminal offenses, and this is a ponderous case, so we've asked the court for enough time to review the records."

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HanKyoRehShinmoon (http://english.hani.co.kr)

Spring tensions hit crescendo with North Korea’s army foundation day

Predictions of a sixth nuclear test around the 85th anniversary of the North Korean People’s Army‘s foundation on Apr. 25 are generating a sense of urgency in other countries involved in Korean Peninsula issues. The situation has prompted US President Donald Trump to hold telephone conversations with Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe. According to China’s state-run CCTV network, Trump and Xi discussed the North Korean nuclear issue in a telephone conversation on the morning of Apr. 24 (local time). The conversation comes after the two leaders’ summit on Apr. 6-7 and a telephone conversation on Apr. 12 - a frequency of communication that is unusual for US and Chinese leaders.

Support growing for man resisting the Security Surveillance Act

As Kang Yong-ju, a 55-year-old doctor, awaits his trial for having refused to perform his reporting duties in accordance with the Security Surveillance Act, resistance to the act is increasing, along with support for those who refuse to comply with the law. On Apr. 24, 19 figures from civic and social organizations in Gwangju submitted a petition to the court that is trying Kang. The signatories of the petition included Cha Myeong-seok, director of the May 18 Memorial Foundation; Fr. Lee Yeong-seon, chair of the Gwangju Justice and Peace Committee for the Gwangju Diocese of the Catholic Church; and Rev. Jang Heon-kwon, chair of the human rights committee for the Gwangju Christian Church Council.

South Korea and Japan set to joust again over use of “East Sea”

South Korea and Japan’s diplomatic war over use of the term “East Sea” rather than “Sea of Japan” in international standard nautical charts is reigniting after five years. On Apr. 24, the South Korean Ministry of Foreign Affairs announced that the 19th International Hydrographic Organization (IHO) assembly was taking place through Apr. 28 in Monaco. The assembly is expected to see fierce diplomatic campaigns by South Korea and Japan over amendment of the IHO’s nautical chart publication “Limits of Oceans and Seas” (S-23) and related listings using the name “East Sea.” S-23, which serves as a reference standard when publishing nautical charts, has listed the East Sea as the “Sea of Japan” since its first publication in 1929.

China’s first domestically developed aircraft carrier remains in the dock

The first aircraft carrier made completely with Chinese technology reportedly remains at the dock, defying predictions that its launching ceremony would be held on Apr. 23, the anniversary of the establishment of the Chinese navy. China’s state-run media remain silent about the 001A, China’s second aircraft carrier and its first produced domestically, which is docked at the port of Dalian in Liaoning Province. But Hong Kong’s Ming Pao newspaper reported on Apr. 24 that activity around the aircraft carrier and the dock show that a launching ceremony was not held the day before.

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JoongAngIlbo (http://koreajoongangdaily.joins.com/)

Thaad equipment enters Seongju site

U.S. troops in South Korea began installing the equipment of an advanced antimissile defense system at a site in a southeastern region of the country early Wednesday morning, facing fierce protests from local residents. The unannounced operation came just six days after U.S. Forces Korea (USFK) secured the land in Seongju County, North Gyeongsang, from the South Korean government. A joint environmental survey required under the bilateral Status of Forces Agreement (SOFA) is not done yet, according to officials.

Trump pushes for tougher UN sanctions

U.S. President Donald Trump on Monday called upon the UN Security Council to prepare for additional and stronger sanctions on North Korea, underscoring he will no longer tolerate the regime’s nuclear and ballistic programs. In a rare gathering of the 15 UN Security Council ambassadors at the White House, Trump declared that the “status quo in North Korea” is “unacceptable,” amid heightened military tensions on the Korean Peninsula as Pyongyang marked the anniversary of the founding of its army Tuesday.

Seoul’s own High Line ready for grand opening on May 20

The overpass walkway above the Seoul Station, or Seoullo 7017, is ready to be opened to the public on May 20, the Seoul city government announced on Tuesday. The overpass above Seoul Station, which used to pose a safety risk as a dilapidated structure, has been reborn into an overpass walkway, completely safe to earthquakes and able to endure up to 50,000 people at a time,” said Kim Jun-ki, head of the Safety Headquarters of the Seoul Metropolitan Government in a press conference on Tuesday.

Korea steals top 2 slots in U.S. for home appliances

Korean players dominate the U.S. home appliances market, one of the largest consumer markets for premium appliances, beating venerable American companies Whirlpool and GE. According to market tracker TraQline on Tuesday, Samsung Electronics notched a 19.2 percent market share in the U.S. home appliances market in the quarter that ended in March, followed by local rival LG Electronics, which clinched 15.8 percent of the market. Whirlpool recorded 15.7 percent.

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

Presidential Election Closes Eyes on Citizens' Aspirations

The nineteenth presidential election is exactly two weeks ahead. The presidential election on May 9 is the first election to be held before its scheduled date, made possible by the "candlelight people," who brought down an unjust government. It will be a process of hope for the building of a new Republic of Korea, different from before the candlelight demonstrations. But as the election campaign heads into the second half, the positions of the current presidential candidates and the political parties seem distant from the expectations of the people.

Ahn Lags Behind. Talks of a "Single Candidate" Continue and May Emerge as a Last-Minute Variable

The prospects of the presidential election are becoming clear as the official election campaign for the nineteenth presidential election enters the second half. According to a poll of the presidential candidates released last weekend, Moon Jae-in of the Minjoo Party of Korea pushed Ahn Cheol-soo of the People's Party back, away from the margin of error. Moon showed a clear lead among his major supporters―the Honam region and voters aged 20-40―as he successfully gathered more supporters, while Ahn saw his supporters drop as the conservatives in the Daegu and Gyeongsangbuk-do region turned away.

Former Ruling Party Members Take the Offensive with Security Issue, Moon & Sim Call It “Same Old Game of Color Politics”

Moon Jae-in of the Minjoo Party of Korea, Hong Jun-pyo of the Liberty Korea Party, Ahn Cheol-soo of the People’s Party, Yoo Seong-min of the Bareun Party, and Sim Sang-jung of the Justice Party were in a heated debate on April 23rd, on foreign affairs and security issues including North Korean nuclear test, measures to reform powerful authorities and other matters. Former Foreign Minister Song Min-soon claimed that [the Roh Moo-hyun administration] consulted with North Korea before it abstained from voting on a U.N. resolution on the North's dire human rights situation in 2007.

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The Korea Economic Daily (http://english.hankyung.com/)

Two Leading Presidential Candidates Announce Schemes to Protect Tenants

Both leading presidential candidates, Minjoo Party's Moon Jae-in and People's Party Ahn Cheol-soo, have offered that they would introduce schemes to strengthen the rights of tenants vis-à-vis landlords including ceilings on monthly and upfront deposit rental contracts and the tenant's rights to ask contract renewal. Moon of the Minjoo Party recently promised that he would push for a scheme to allow tenants to demand renewal of one-year rental contracts once or twice while introducing a rent control by which landlords can raise rental price up to a certain percentage every year. In addition, he pledged that the government will give a tax break on rental income below a certain level while giving subsidies to those homeowners who initiate renovation on their rental properties.

United Parcel Service Acquires Rogen Logistics

United Parcel Service, the world's third-largest package delivery company, will move into the Korean market by acquiring Logen Logistics, Korea's fifth-largest package delivery service operator. According to investment banking industry sources on April 25, UPS has agreed to purchase the 100-percent stake in Rogen Logistics from Baring Private Equity Asia at the cost of 270 billion won. United Parcel Service, the world's third-largest package delivery company, will move into the Korean market by acquiring Logen Logistics, Korea's fifth-largest package delivery service operator. According to investment banking industry sources on April 25, UPS has agreed to purchase the 100-percent stake in Rogen Logistics from Baring Private Equity Asia at the cost of 270 billion won.

SK Chairman Hits the Road to Japan, Exploring Ways to Acquire Toshiba's Memory Unit

Chey Tae-won, chairman of SK Group, took a business trip to Japan in a move to orchestrate SK Hynix's attempt to acquire Toshiba's semiconductor business. This is his first overseas trip in five months after he visited oil-rich countries in the Middle East, including Saudi Arabia and the United Arab Emirates back in November 2016. Chey departed through the Seoul Gimpo Business Airport Center by using his private jet in the afternoon of April 24. He will stay in Japan for two nights until April 26. During his stay, he is scheduled to meet a handful of Japan's government officials and Toshiba top management and brief about SK Group's semiconductor business strategy and its strong will to acquire Toshiba's semiconductor unit.

Samsung Heavy to Secure 2 Tril. Won Liquidity through Ship Deliveries by Year's End

Korea's big-three shipyards are exploring their respective ways to stay afloat. Dawoo Shipbuilding & Marine Engineering is escaping from a life-or-death situation thanks to the Korean government's financial support. Hyundai Heavy Industries is also strengthening its self-survival capabilities. For Samsung Heavy Industries, its restructuring is still under way. Under the terms of the agreement it signed with the state-run Korea Development Bank last year, Samsung should dispose of its non-core assets, including Geoje Samsung Hotel, and reduce payrolls by more than 2,000 by the end of next year.

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AJU Business Daily (http://eng.ajunews.com/korea)

N. Korea stages major live-fire exercise marking military anniversary

North Korea staged a major live-fire exercise in a show of force Tuesday as a US aircraft carrier strike group is set to sail into waters near the Korean peninsula, military authorities said. The exercise was under way near the North's eastern port city of Wonsan to mark the 85th founding anniversary of its armed forces, the South's Joint Chiefs of Staff (JCS) said. North Korea staged a major live-fire exercise in a show of force Tuesday as a US aircraft carrier strike group is set to sail into waters near the Korean peninsula, military authorities said. The exercise was under way near the North's eastern port city of Wonsan to mark the 85th founding anniversary of its armed forces, the South's Joint Chiefs of Staff (JCS) said.

China's doublestar promises to nuture Kumho Tire as global player

China's Doublestar promised to become a major global player through the acquisition of South Korea's second-largest tire maker, Kumho Tire, as creditors began the process of closing a deal which has been challenged by its former owner. Doublestar said in a statement published Tuesday that creditors would push ahead with steps to legalize its ownership because Kumho Asian Group chairman Park Sam-koo would not exercise his right to buy back. "The most urgent task is to achieve sound and speedy growth of Kumho Tire. Through doing so, we can maximize the benefits for not only shareholders but also employees, the company itself and local communities, especially Kumho Tire's vendors and customers," the Chinese company said.

SK hynix posts record earnings, pledges more investment in NAND flash

SK hynix posted record corporate earnings in the first quarter of this year, helped by a steady price hike, and vowed to invest more in 3D NAND flash memory chips used in smartphones and other mobile devices. Hynix has joined the race to acquire the memory unit of Japan's Toshiba as part of efforts to strengthen its NAND flash memory business. The chipmaker said it would push ahead with its planned investment in 3D NAND flash facilities regardless of its bid for Toshiba.

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

SK Hynix posts record high earnings in Q1 on chip price hikes

South Korea’s memory chipmaker SK Hynix Inc. posted all-time high quarterly earnings in the first quarter ended March this year, benefiting from the so-called super cycle in semiconductors when prices jump on both tight supply and strong demand to suggest a lengthy boon. SK Hynix in a regulatory filing on Tuesday reported that its operating profit from January to March expanded by more than four times from the year-ago period and 60.6 percent from the previous quarter to 2.47 trillion won ($2.2 billion). Revenue reached 6.29 trillion won, up 72 percent on year and 17.4 percent on quarter. Its net profit totaled 1.9 trillion won, up 324 percent on year and 17 percent on quarter.

Korean authorities clamp down on imported car sellers’ overcharge and repair terms

South Korean authorities have clamped down on dealers of foreign car brands to correct their overcharge and other after-sales unfair practices. The police have conducted extensive searches at imported car dealers to seize evidence that the dealers had overcharged parts repair costs, while the country’s Fair Trade Commission issued administrative order on unfair after-sales terms. Daegu Gangbuk Police Station and Seoul Geumcheon Police Station announced on Monday that they raided a Ford Korea dealer and a BMW Korea dealer in mid-April on allegations that the two dealers overcharged local insurers and consumers on vehicle repair costs. Police confiscated related documents and digital data, including repair charge invoices from July 2012 to the latest date issued at the service centers of the two dealers.

Korean govt to deny visa extension to foreign tax delinquents

South Korea will deny visa extensions to non-Korean tax delinquents by making tax checkout mandatory for visa review, according to the government Monday. The National Tax Service and the Ministry of Justice would extend co-sharing of records on all types of income tax liabilities of foreigners for reference before visa review. The double scrutiny that so far had been limited to the Ansan branch of Incheon immigration office since May last year would be expanded to 16 immigration offices from next month and all 38 offices across the country by next year.

Hyundai Heavy sells 11.8% stake in Hyundai Samho as part of demerger

Hyundai Heavy Industries Co. handed over 11.8 percent of its stake in its subsidiary Hyundai Samho Heavy Industries Co. to private equity fund IMM Investment Corp. for 300 billion won ($264.8 million), giving Korea’s largest shipbuilder much-needed fresh capital as well as setting it on track for its long-term reorganization outline. Hyundai Heavy Industries Group earlier this month was separated into four entities with the goal of leaving shipbuilding function with Hyundai Heavy and others spun off as independent entities under Hyundai Robotics acting as the holding company.

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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

Gwangmyeong Daily 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 La Repubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com

Germany Frankfurter Allgemeine Zeitung www.faz.net anzeigen.ausland@faz.de

Süddeutsche Zeitung www.sueddeutsche.de forum@sueddeutsche.de

Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au

Sydney Morning Herald www.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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Lee Kyung-sik  edt@koreapost.com

<저작권자 © 코리아포스트, 무단 전재 및 재배포 금지>

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