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The Korean daily media headlines and humor

The Korean daily media headlines and humor

Thursday April 27, 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/)

USFK Begins THAAD Deployment to Seongju Site

From midnight to five a.m. Wednesday, the U.S. military brought in six launchers, a radar, interceptor missiles and other equipment to the site previously used as a golf course in the southeastern town of Seongju. It was too late when about 200 anti-THAAD protesters arrived to stop the unexpected delivery. In a scuffle with police, eleven protesters were injured. A total of about eight-thousand South Korean police were mobilized to block any road access to the military site. While confirming the U.S.’ move, the South Korean Ministry of National Defense said that the anti-missile defense system should be fully operational by the end of the year.

China Urges S. Korea, US to Remove THAAD Equipment

China has strongly urged South Korea to remove THAAD equipment hours after key parts of the U.S. advanced antimissile system were deployed to Seongju, North Gyeongsang Province, early Wednesday.

China’s Foreign Ministry spokesman Geng Shuang said during a regular news briefing that the THAAD deployment will destroy strategic balance in the region and incite a further rise in tensions, when asked about China's stance on the issue.

KOSPI Hits Six-Year High before Closing up 0.5% at 2,207.84

The benchmark Korea Composite Stock Price Index(KOSPI) hit a six-year high during mid-day trading on Wednesday before losing ground to close up ten-point-99 points at two-thousand-207-point-84 on the back of strong buying from foreign investors. uring mid-day trading, the KOSPI reached as high as two-thousand-210-point-17, breaking the two-thousand-210 threshold for the first time since May 2011.

Analysts say the recent foreign buying spree is being driven by favorable export indicators, upgrades in South Korea's economic growth forecasts and an ease in uncertainties over North Korea risks.

'N. Korea is Becoming Liability rather than Asset to China'

South Korea says China is taking a firmer position on North Korea lately, suggesting Beijing may view North Korea increasingly as a liability rather than an asset. Foreign Ministry spokesman Cho June-hyuck told reporters Tuesday that a recent series of strong messages from Beijing is a stern warning to Pyongyang that is posing grave threat to the Korean Peninsula with illegal nuclear and missile development.

The Global Times, an English-language daily controlled by the Chinese Communist Party, warned that if North Korea conducts a sixth nuclear test, China could sharply slash oil supplies to the North.

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

S. Korea's economic growth accelerates in Q1

South Korea's economy grew at a faster pace in the first quarter than three months earlier due to increased construction investment and exports, central bank data showed Thursday. In the January-March period, the country's gross domestic product (GDP) increased 0.9 percent from the previous quarter, improving from a 0.5 percent on-quarter expansion three months earlier, according to preliminary data from the Bank of Korea (BOK).

Trump aims to pressure N.K. into dismantling nuclear, missile programs through sanctions, diplomatic measures

U.S. President Donald Trump aims to pressure North Korea into dismantling its nuclear and missile programs through economic sanctions and diplomatic measures while remaining open to negotiations, top U.S. officials said in a rare joint statement Wednesday. "North Korea's pursuit of nuclear weapons is an urgent national security threat and top foreign policy priority. Upon assuming office, President Trump ordered a thorough review of U.S. policy pertaining to the Democratic People's Republic of Korea (DPRK)," Secretary of State Rex Tillerson, Secretary of Defense James Mattis and Director of National Intelligence Dan Coats said in a joint statement.

Full text of U.S. statement on North Korea policy

Following in the full text of a joint statement on North Korea issued by U.S. Secretary of State Rex Tillerson, Secretary of Defense James Mattis and Director of National Intelligence Dan Coats. Past efforts have failed to halt North Korea's unlawful weapons programs and nuclear and ballistic missile tests. With each provocation, North Korea jeopardizes stability in Northeast Asia and poses a growing threat to our allies and the U.S. homeland.

Audi, Nissan, Yamaha ordered to recall over 7,700 vehicles

Audi Volkswagen Korea Ltd., Nissan Korea Co. and the importer of Yamaha scooters have been ordered to recall more than 7,700 vehicles in South Korea for faulty parts, the transport ministry said Thursday.

This is the latest of a series of recall orders issued by the Ministry of Land, Infrastructure and Transport against both domestic and foreign carmakers. Audi Volkswagen, Nissan and Yamaha Sports Korea plan to recall 10 different models totaling 7,742 units. These include the A4 2.0 TFSI quattro, Nissan's Qashqai SUV and the Yamaha MT-09A, with problems ranging from faulty cooling water pumps and automotive brake hoses, to scooter handle issues, the ministry said in a statement.

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

US moves to deploy key parts of THAAD

The US Forces Korea on Wednesday brought launchers, a radar and other key parts of its advanced missile defense system to its deployment site, in a surprise move to accelerate the process ahead of a presidential election here amid heightened tension on the peninsula. Some 20 trailers carrying key components of the Terminal High Altitude Area Defense system arrived at the site at dawn in Seongju, North Gyeongsang Province. Although covered by plastic boxes and wrapping, they were believed to include a radar, launchers, interceptors, a fire control and communications unit, a power generator and a cooler.

No pre-emptive strike on NK

South Korea should under no circumstances allow a pre-emptive strike upon North Korea, according to the People’s Party candidate for the forthcoming May 9 presidential election. Even if North Korea carries out a sixth nuclear test or launches an inter-continental ballistic missile, we should never resort to a pre-emptive strike but focus on reinforcing diplomatic and economic restrictions upon Pyongyang,” Ahn Cheol-soo, who stands second in the polls, told The Korea Herald in an email interview.

How will presidential candidates raise taxes?

South Korea’s tax code is likely to reach a turning point upon the May 9 presidential election, as the majority of the presidential candidates pledge to collect more taxes from conglomerates and high-income earners to finance welfare programs and improve income distribution. Except for Hong Joon-pyo of the conservative Liberty Korea Party, all of the main candidates -- front-runner Moon Jae-in of the liberal Democratic Party of Korea, Moon’s strongest rival Ahn Cheol-soo of the centrist People’s Party, Yoo Seong-min of the splinter conservative Bareun Party and Sim Sang-jeung of the minor progressive Justice Party -- promise to raise, or consider raising, corporate and income taxes.

North Korea loses world judo event because of security risk

North Korea will no longer host the judo world junior championships because of security risks amid rising political tension with South Korea and the United States. "At present, this situation is alarming, and the outcomes are difficult to predict," the International Judo Federation said Wednesday after talks with North Korea's sports ministry. Some national teams had refused to go to North Korea and others expressed concern about sending children there, the judo world body said. The federation awarded the Oct. 18-22 championships to Pyongyang with conditions including that there was "a stable international situation." The championships will instead be held in Zagreb, Croatia.

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

'Until Kim Jong-un caves in, sanctions must continue'

The international community should keep imposing sanctions on North Korea until the Kim Jong-un regime falls, former North Korean diplomat Thae Yong-ho said. Additionally, he cautioned against using military options to denuclearize Pyongyang, saying that should be the last resort. The remarks from the former North Korean deputy ambassador to Britain, who fled to the South last August, come amid heightening tension here following Washington's warnings against Pyongyang's provocations and the latter's vows of "merciless" counterattacks.

History lesson on Korea for Trump

In an April 12 interview President Donald Trump, while talking about the complications of dealing with North Korea, stated that "Korea actually used to be a part of China." Unsurprisingly, this statement elicited great outrage in Korea. How could the president of the United States not know the historical relationship between Korea and China? This confusion actually goes back to the very beginning of U.S.-Korean relations. In 1867, the American minister to China submitted a claim for indemnification to the Chinese government for the loss of the General Sherman ― a merchant vessel destroyed near Pyongyang in 1866. It was his understanding that China had "qualified suzerainty" over Korea but the Chinese government denied any responsibility claiming its "suzerainty over Corea was simply ceremonial."

Seoullo 7017, overpass-turned-park, to open in May

Seoul will have its first elevated, wooded public park in May. Modeled after New York's iconic High Line, the park, Seoullo 7017, is in the final stage of construction, with its opening day set for May 20. Seoul Mayor Park Won-soon on Tuesday described the urban sky park as a place where "nature and humans can live side by side." "(The launch of Seoullo 7017) will not only restore the overpass but become a catalyst for the revival and regeneration of neighboring regions through the high number of visitors," Park said.

Chinese int'l school blasted over 'cover-up' of Korean students' deaths

Yantai Huasheng International School (YHIS) in Yantai, Shandong Province, is under heavy criticism for the alleged cover-up of the deaths of two Korean students during a field trip. The students, surnamed Cho and Choi, drowned while swimming in the Moei River in Thailand during the school trip on Mar. 24. The school has avoided investigating the incident and refused to pay compensation to the bereaved families. About five people a year drown in the river but the school did not properly educate the students, according to the families.

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

THAAD test operation to be completed before election

The U.S. Forces stationed in Korea deployed part of core equipment for the Terminal High Altitude Area Defense system in a surprise move on Wednesday. The measure has been taken six days after South Korea and the U.S. completed the process for Seoul to provide the land for THAAD on April 20. The South Korean and U.S. military authorities will likely complete test operation of the missile defense system before the May 9 presidential election to be prepared to cope with North Korea’s nuclear and missile threats.

LMVH Chairman Arnault takes full control over Christian Dior

LVMH Moët Hennessy Louis Vuitton Chairman and chief executive officer Bernard Arnault, who inherited his father’s construction company, acquired the Boussac group, the parent company of Christian Dior in 1989 at the French government’s request. After that, he became a luxury goods mogul by taking control over some 70 luxury brands including Louis Vuitton, Céline, Fendi, Givenchy, Marc Jacobs, Bulgari and Hublot. People close to him say that Dior is “like Arnault’s baby.” After launching the LVMH group in 1987, he has been expanding his empire in the global luxury market through large-scale mergers and acquisitions.

Korean rocker Jeon In-kwon is swept up in controversy for plagiarism

I have never heard of the song and the band before. It is weird.” Controversy is flaring around plagiarism of Korean rocker Jeon In-kwon’s hit track “Don’t Worry, My Dear.” Allegations about similarities between “Don’t Worry, My Dear” and “Drink Doch Eine Met,” released by German band “Bläck Fööss” in 1970s, have started hitting the internet since Wednesday. Through a phone interview with the Dong-A Ilbo, Jeon unequivocally denied such accusations.

CJ Korea Express acquires logistic service providers in India and UAE

CJ Korea Express has acquired local logistic service providers of India and the United Arab Emirates (UAE). The recent acquisitions come as a step forward to become one of the world’s top five logistics players by building a logistics infrastructure that encompasses the entire Asian region. The Korean logistics giant has become the largest shareholder of Darcl Logistics Ltd. after signing an agreement of acquiring 50 percent of shares of the Indian logistics company. With its service provided on land, rail, and maritime, Darcl is ranked as the No. 1 transporter and No. 3 in total distribution. In other words, CJ Korea Express has gained a foothold in making inroads into the Indian logistics market where the world’s second-most population resides and shows high potentials for growth.

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

Supreme Court Wants to Broadcast Park's Trial Live

The Supreme Court would want to broadcast live the trials of former President Park Geun-hye and her crony Choi Soon-sil given the overwhelming public interest in the case. A Supreme Court official said Tuesday, "The Constitutional Court broadcast Park's impeachment trial live in March, and we're also discussing the prospect of allowing live coverage of major trials." That would probably cover the trials of Park and Choi as well as the trial of de facto Samsung chief Lee Jae-yong on charges of bribing them.

Ex-Ambassador Lippert Becomes Vice President of Boeing

Former U.S. Ambassador to Korea Mark Lippert has been appointed a vice president of aircraft giant Boeing, according to news website Politico on Monday. Lippert is expected to be in charge of international government affairs, which presumably means trying to sell airplanes to foreign countries. Lippert was an aide to ex-U.S. President Barack Obama and became the youngest U.S. ambassador here at age 41 in October 2014.

Park Was Lonely, Says Court Quack's Wife

Ex-President Park Geun-hye was lonely at the heart of her vaudeville court at Cheong Wa Dae, the wife of her quack doctor told a court Tuesday. The wife of cosmetic surgeon Kim Young-jae, who is on trial for perjury after denying he administered quack anti-aging treatments to Park, testified in the Seoul Central District Court that she visited Park 14 times at Cheong Wa Dae for long chats. Park Chae-yoon said the president "was very lonely and wanted to hear about what was going on in the outside world."

Home Ownership Reaches Record High

Three out of five Koreans own their own home, the highest proportion in a decade. The Ministry of Land, Infrastructure and Transport on Tuesday published a survey showing home ownership at 59.9 percent, up 1.9 percent from 2014. The main reason is that a growing number of middle-income earners buy their own home because jeonse or Korean-style deposit lease prices are going through the roof. In the Seoul metropolitan area, where many people traditionally rent, home ownership was still at 52.7 percent compared to 68.9 percent in provincial regions.

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

Tensions set to continue as US and South Korea step up pressure on North Korea

Even though North Korea did not take any actions to heighten tensions - such as testing a nuclear device or launching a missile - on Apr. 25, the 85th anniversary of the foundation of the Korean People’s Army, South Korea and the US initiated a series of joint exercises the same day in the West (Yellow) Sea and the East Sea, and the US government under President Donald Trump intends to intensify sanctions until North Korea comes to the table to discuss denuclearization. As a result, low-level tensions are expected to continue for the time being.

China underscores it role as mediator, urges North Korea to exercise restraint

Amid rising speculation about a crisis on the Korean Peninsula this month, which includes North Korea’s Day of the Sun (the birthday of founding leader Kim Il-sung) on Apr. 15 and Korean People’s Army Foundation Day on Apr. 25, China has been emphasizing its role in managing issues on the Korean Peninsula by urging North Korea to exercise “restraint” and praising the US for its “patience.” The leaders of China and the US spoke on the phone before the 105th anniversary of the birth of Kim Il-sung on Apr. 15 and the 85th anniversary of the foundation of the Korean People’s Army on Apr. 25, which helped the two countries clarify ongoing developments, discuss methods of crisis management and prevent affairs from getting out of hand,” said a column on the front page of the Apr. 25 issue of the overseas edition of the People’s Daily, the official organ of the Communist Party of China.

US troop relocation from Yongsan to Pyeongtaek to be completed by June

The US Eighth Army Command, which commands ground forces for US Forces Korea, began full-scale efforts on Apr. 25 for relocation from Yongsan Garrison in Seoul to the base in Pyeongtaek, Gyeonggi Province. The Eighth Army Command announced its relocation to Pyeongtaek with a commemoration ceremony held by Commanding General Thomas Vandal that morning for the relocation of a statue of General Walton H. Walker. The statue of Walker, who was Eighth Army Commanding General during the Korean War, is being relocated to Camp Humphreys in Pyeongtaek.

In Diplomatic Bluebook, Japan decries comfort woman statue in Busan

The Japanese government reported a Diplomatic Bluebook to its Cabinet expressing “extreme dismay” over the setting up of a comfort woman statue in Busan and ramping up claims of the Dokdo islets as “Japanese territory.” Reported to the Cabinet on Apr. 25 by the Japanese Foreign Ministry, the 2017 Diplomatic Bluebook said the “setting up of a comfort woman statue on a road connecting with the [Japanese] general consulate in Busan in late 2016 was extremely dismaying.”

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

Thaad battery installed in dead of night

The U.S. Forces Korea began installing key components of the Terminal High Altitude Area Defense (Thaad) battery early Wednesday morning at a golf course in Seongju County, North Gyeongsang, resulting in scuffles with local residents who objected to the stealthy deployment of the antimissile system. In the dead of night, the military hauled in components of the U.S.-made Thaad battery, including a powerful AN/TPY-2 radar system and at least two missile launchers and interceptors used in them, to a golf course it acquired from Lotte Group and turned over to the U.S. Forces Korea.

Recall of cars with defects rejected by Hyundai, Kia

Hyundai Motor was asked to recall cars by the transport ministry - and for the first time said no. The Ministry of Land, Infrastructure, and Transport asked Hyundai Motor to voluntarily recall cars because of five potential safety issues, including the Sonata LF model, a Sonata hybrid and an unspecified Genesis model, because of defects related to the parking brakes. The transport ministry found that a dashboard light signifying the parking brake was on didn’t work, which could lead to people driving with the parking brake on.

Mystery gas shortage hits North

Gas stations in Pyongyang are not opening for business and reports are circulating of a drop in the number of cars on the streets of Pyongyang, sparking speculation that North Korea is stockpiling fuel in preparation for a suspension of Chinese supplies. I didn’t feel it last week, but within two days Pyongyang’s traffic definitely decreased,” said a foreign reporter in North Korea via text message to a JoongAng Ilbo reporter. “Though all the gas stations I’ve seen have closed their doors, there’s talk of some still being open in certain locations.”

Jeju Air posts record W240.2 billion revenue

Jeju Air, Korea’s largest low-cost carrier, on Wednesday posted record revenue during the first quarter of the year, spurred by the company’s expansion of international routes. The airline’s first-quarter revenue was 240.2 billion won ($213 million), a 38.7 percent increase from last year, and operating profit was 27.2 billion won, a 74.4 percent jump from last year and the best first-quarter record. The company credits the result to its improved economy of scale from operating a single aircraft model while aggressively expanding the number of planes in its fleet. Unlike rival Jin Air, the low-cost affiliate of Korean Air, which added a larger B787-200ER Boeing model to its lineup, Jeju Air is maintaining a strategy of only offering the B737-800. The aircraft is optimized for short-haul flights and is widely used by low-cost carriers.

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

Moon Opposes Legalizing Homosexuality, But Is Against Discrimination of Sexual Minorities

Moon Jae-in (64), the presidential candidate of the Minjoo Party of Korea, announced his opposition to same-sex relationships. In a debate of presidential candidates organized by JTBC, the JoongAng Daily, and the Korean Political Science Association on April 25, Hong Jun-pyo, the candidate of the Liberty Korea Party asked, "Are you against homosexuality?" to which Moon answered, "I am not fond of it." When Hong further questioned, "I'm not asking if you like homosexuality, I am asking you if you are for it or against it," Moon answered, "I am not in favor of legalizing it (homosexuality)."

Brinkmanship and the Madman Strategy

North Korea's response to the nuclear issue has not changed much, past or present. They resort to so-called brinkmanship. North Korea's Vice Foreign Minister Han Song-ryol gathered the foreign press in Pyongyang on April 14 and threatened the U.S. saying, "If the U.S. engages in military operations, we will respond with a preemptive strike." At the same time he stressed, "We will conduct a nuclear test when and where the senior leadership decides to conduct it." This was North Korea's response at a time when experts state that the U.S. may take military action if North Korea engages in further provocations. On April 19, the Rodong Sinmun even mentioned the "absolute weapon," a hydrogen bomb in response to the U.S. deployment of the aircraft carrier, USS Carl Vinson in the Korean Peninsula.

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.

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

THAAD to Be Operational by Next Month...Rushed Measure to Make It Fait Accompli

As the U.S. Forces in Korea has installed the THAAD anti-ballistic missile system in Seongju County, North Gyeongsang Province, mobile launchers and x-band radar will be soon operational on an experiment basis. Earlier on March 6, the U.S. Forces had moved two THAAD launchers to Osan Air Base from Fort Bliss in West Taxas. Afterward, they brought in additional equipment pieces to Korea and later to Waegwan near Seongju. The U.S. Forces picked midnight hours to install the system in Seongju Country Club to minimize resistance from the residents.

KOSPI Hits 2,200 Level...Market Rally Has Begun in Earnest

The KOSPI market has finally begun a rally based on strong results in tandem with other markets in the United States, Europe, and Japan that are moving up solidly. The KOSPI index has risen for five consecutive trading days by closing at 2,207.84 on April 26, up 0.50 percent (10.99 points) from the previous day. If the index rises 1 percent more, it will have surpassed the historic high of 2,228.96 set on May 2, 2011. On the day, foreign investors net-bought stocks worth 298.4 billion won, with the balance of stocks net-purchased for the five trading days totaling 1,606.9 billion won.

Hyundai Heavy Industries Finally Turns the Corner

Hyundai Heavy Industries has won a total of ship orders worth US$2.3 billion this year to date. This is great news for the shipbuilder that has suffered mightily from an order drought for years due to the global downturn. The three shipyards under the Hyundai Heavy Industries Group umbrella including Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard said on April 26 that their combined number of ship orders for the past four months has been 39 with their value reaching $2.3 billion. This is the highest figure since 2014 and much higher than last year's $500 million (8 vessels).

LG Display Sees Its 1Q Operating Profit Balloon 2,500%

LG Display has reached the 1-trillion-won milestone in quarterly operating profit for the first time since its founding. The display panel maker said on April 26 in a regulatory filing that its consolidated operating profit for the first quarter was 1,026,877 million won, up 2,498.3 percent from the same period last year. The quarter's operating profit is a record-high level, renewing the previous high of 904.2 billion won set in the fourth quarter of last year.

Jeju Air Posts Record-high Sales Revenue in 1Q despite Adversities

Jeju Air, a low-cost airline affiliated with Aekyung Group, hit record-high quarterly results on the first quarter of this year by posting sales of 240.2 billion won. The airliner said on April 26 in a regulatory filing that its sales revenue for the quarter was 240.2 billion won, up 38.6 percent from 173.2 billion won set in the same quarter last year. The company posted an operating profit of 27.2 billion won, 73.7 percent higher than a year ago, and a net profit of 17.0 billion won. Its operating profit ratio was 11.3 percent. It was the first time for Jeju Air to surpass 200 billion won in sales for the first quarter. The 240.2-billion-won sales revenue is higher than the previous high of 221.7 billion won set in the third quarter of last year. Its operating profit for the quarter also exceeded that of the first quarter 2015 (21.6 billion won).

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

Seoul praises Pyongyang for making 'wise' decision to avoid showdown

South Korea praised North Korea Wednesday for making a "wise" decision to avoid a military showdown after leader Kim Jong-un led a live-fire exercise involving conventional weapons instead of ballistic missile launches or a nuclear test. The exercise marking the founding anniversary of North Korean armed forces on Tuesday involved submarines, bombers, jet fighters, and hundreds of large-caliber self-propelled guns along the coast near the North's eastern port city of Wonsan.

S. Korea's economic growth accelerates in Q1

South Korea's economy grew at a faster pace in the first quarter than three months earlier due to increased construction investment and exports, central bank data showed Thursday. In the January-March period, the country's gross domestic product (GDP) increased 0.9 percent from the previous quarter, improving from a 0.5 percent on-quarter expansion three months earlier, according to preliminary data from the Bank of Korea (BOK).

Trump's N. Korea policy focuses on diplomatic pressure and sanctions

US President Donald Trump aims to pressure North Korea into dismantling its nuclear and missile programs through economic sanctions and diplomatic measures while remaining open to negotiations, top US officials said in a rare joint statement Wednesday. "North Korea's pursuit of nuclear weapons is an urgent national security threat and top foreign policy priority. Upon assuming office, President Trump ordered a thorough review of US policy pertaining to the Democratic People's Republic of Korea (DPRK)," Secretary of State Rex Tillerson, Secretary of Defense James Mattis and Director of National Intelligence Dan Coats said in a joint statement.

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

Hyundai Motor Q1 OP dips 6.8% on weak sales in China and recall

South Korea’s largest automaker Hyundai Motor Co. posted a 6.8 percent on-year drop in operating profit and 20.5 percent plunge in net income for the first quarter this year due to sharp sales decline in China and massive recall. The company said in a regulatory filing on Wednesday that its operating profit in the January to March period fell 6.8 percent from a year earlier to 1.25 trillion won ($1.1 billion). Its net profit plunged 20.5 percent on year to a seven-year low of 1.4 trillion won as Beijing-led boycott on Korean brands following Seoul’s decision to deploy strongly-protested U.S. missile system in Korea took heavy toll on sales in the world’s largest car market.

CJ Logistics acquires 50% stake in India’s Darcl Logistics

South Korea’s largest parcel delivery service company CJ Logistics Corp. acquired a 50 percent stake in India’s medium-sized logistics and transport company Darcl Logistics Ltd. at 57.06 billion won ($50.6 million). The deal is expected to pave the way for the Korean company to tap into the world’s second-most populated country with burgeoning logistics demand and broaden its logistics network across the Asian region.

Kospi tops 2,200 for first time in 6 yrs, bull may extend

The Korean composite stock price index (Kospi) climbed over the 2,200 mark for the first time in six years, riding on the general Asian rally boosted by the Nasdaq’s overnight stretch to historic-high and upbeat earnings reports. The Kospi closed Wednesday at 2,207.84, up 0.5 percent and the first time above the 2,200 threshold since May 4, 2011. The next milestone would be the intraday peak of 2,231.47 on April 27, 2011.

LG Display posts record high earnings in Q1 on OLED TV sales

Benefiting from broad recovery in panel selling prices and strong demand for its large ultra-HD 4K TVs, the world’s largest panel maker LG Display Co. posted record quarterly profit of 1.03 trillion won ($911.2 million) in the first three months of 2017. The leader in OLED technology on Wednesday reported that its operating profit skyrocketed 25 times from 39.5 billion won in the year-ago period and gained 14 percent from the previous quarter.

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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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