The Korean daily media headlines and humor
Wednesday May 31, 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
Choi's daughter arrested on plane to Korea
The daughter of former President Park Geun-hye's close friend was arrested on a plane to South Korea on Wednesday in connection with a massive corruption scandal.
Chung Yoo-ra, the 21-year-old daughter of Choi Soon-sil, was arrested by prosecutors on the flight from Amsterdam to Seoul after being extradited from Denmark a day earlier.
Chung had been held at a detention center in Aalborg, Denmark, since January. But South Korean prosecutors demanded she be extradited to face questioning on corruption allegations involving her mother and Park. The former president was removed from office in March.
For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=4013)
Chung Yoo-ra (C) is seen arriving at a Copenhagen airport on May 30, 2017, in this photo captured from footage on MBC TV.
What’s ticking in Korea today? Here is a quick roundup of important news stories from the major Korean news media today:
Moon Picks Lawmakers as Cabinet Nominees
President Moon Jae-in has nominated four more ministers amid the political wrangling over the allegations of ethical breaches by some of his prior nominees. The new contenders are all lawmakers of the ruling Democratic Party, a choice which could potentially help their approval at parliamentary confirmation hearings. he top office said Tuesday that Moon nominated Rep. Kim Boo-kyum as the interior minister and Rep. Do Jong-hwan as the culture minister. Rep. Kim Hyun-mee was picked as the transportation minister and Rep. Kim Young-choon as the oceans minister. Kim Boo-kyum is a four-term lawmaker who represents Daegu. He is known for challenging regionalism as a liberal who gained a foothold in the conservative bastion.
Moon Orders Investigation into 4 Additional THAAD Launchers
President Moon Jae-in has ordered an investigation into the undisclosed delivery of four rocket launchers to the deployment site of a US-provided THAAD antimissile system. The four THAAD rocket launchers were reportedly added to the two already deployed in Seongju, North Gyeongsang Province. The president's office says the Defense Ministry failed to disclose the delivery during its report to the State Policy Planning and Advisory Committee, a de facto transition team for the new government. Chief presidential press secretary Yoon Young-chan says the president is describing the matter as "shocking," and has demanded to know who decided to bring in the additional launchers, how they were brought in, and why the delivery was not reported to his team.
Parliament to Adopt Confirmation Hearing Report on PM Nominee
A parliamentary special confirmation hearing committee has decided to adopt a report on Prime Minister-nominee Lee Nak-yon on Wednesday. Ranking members of the committee from the ruling Democratic Party(DP), the opposition People’s Party and the Bareun Party said in a briefing on Tuesday that they agreed to hold a plenary session at 10 a.m. Wednesday to adopt the report. DP lawmaker Yoon Hu-duk said that they reached the agreement despite differences on whether to endorse the nominee. The main opposition Liberty Korea Party refused to join the process, calling the nominee unfit for the post.
S. Korea's industrial output down 2.2 pct in April
South Korea's industrial output backtracked last month from a month earlier due to contracted production of chips and cars, government data showed Wednesday. Production in the mining, manufacturing, gas and electricity industries fell 2.2 percent on-month in April, retreating from a 1.2 percent on-month gain in the previous month, according to the data by Statistics Korea.
From a year earlier, the figure rose 1.7 percent on-year in April on the back of a sharp output increase in the machinery and electronic parts sectors. Production in the service sector edged up 0.1 percent last month from a month earlier, with a 2.5 percent on-year rise.
U.S., China in talks about when to seek new U.N. sanctions on N. Korea: U.S. envoy
The United States and China are in negotiations about the best time to seek a new U.N. Security Council sanctions resolution on North Korea and a decision could be made this week, U.S. Ambassador to the U.N. Nikki Haley said Tuesday."It's about at what point do we do the resolution," Haley said of talks with China. Haley said China is trying to be "productive." "We do think they are trying to counter what is happening now and they have the lay of the land," she said. The U.S. will keep the pressure on China, while at the same time working with it, the envoy said.
S. Korea's manufacturing sentiment remains unchanged for June
South Korean manufacturers' business sentiment for next month remained unchanged as local companies expect a slight decline in domestic demand and exports, data by the central bank showed Wednesday. The business survey index (BSI) of manufacturing firms came to 84 for June, unchanged from May, according to the Bank of Korea (BOK). A reading below 100 means pessimists outnumber optimists, while a reading below the benchmark means the opposite. An index measuring local firms' sentiments toward exports came to 91 for next month, down from 93 for May. A separate index for domestic sales stood at 89 for June, down from 92 for May.
Corporate debt sales jump 64.5 pct in April
Debt sales by South Korean companies jumped 64.5 percent on-month in April, data showed Wednesday, as firms sought to take advantage of record low interest rates. South Korean firms issued bonds worth 16.9 trillion won (US$15 billion) last month, compared with 10.3 trillion won worth of bonds issued in February, according to the data by the Financial Supervisory Service. Sales of debts by nonfinancial firms soared 77.2 percent on-month to 4.3 trillion won in March, the data showed. Financial firms' debt also climbed 53.2 percent on-month to 10.1 trillion won in March.
Most new debts were aimed at rolling over or repaying maturing debts, but bonds for new facility investment jumped to 545.2 billion won last month, from 20 billion won in March.
U.S. successfully shoots down incoming missile in first ICBM intercept test
The United States successfully carried out its first-ever test to shoot down an oncoming intercontinental ballistic missile, the Pentagon said, as it steps up efforts to defend better against growing missile threats from North Korea."The U.S. Missile Defense Agency ... today successfully intercepted an intercontinental ballistic missile target during a test of the Ground-based Midcourse Defense (GMD) element of the nation's ballistic missile defense system," the Defense Department said in a statement. It was the first live-fire test against an ICBM-class target for the U.S. ballistic missile defense system.
The Korea Herald (http://www.koreaherald.com)
More THAAD launchers in Korea, Moon orders probe
President Moon Jae-in on Tuesday called for a probe into four additional THAAD launchers being brought into the country, calling the development “shocking.” Until now only the presence of two THAAD launchers, deployed at the site provided by the previous administration in Seongju, North Gyeongsang Province, was known. “The president was briefed on the fact that four THAAD launchers, in addition to the two deployed in Seongju, have been brought into the country,” Yoon Young-chan, chief presidential press secretary, said. Yoon said that Moon verified the information with Minister of National Defense Han Min-koo after he was informed by NSC chief Chung Eui-yong.
Moon Jae-in appoints four Democratic lawmakers to Cabinet
President Moon Jae-in on Tuesday tapped four lawmakers of his liberal Democratic Party of Korea to fill key Cabinet posts, in a gesture to push ahead with his personnel blueprint despite recent disputes over some of the minister nominees. Rep. Kim Boo-kyum, a rare liberal lawmaker representing a district in the hard-line conservative city of Daegu, was nominated as interior minister, while poet-turned-lawmaker Rep. Do Jong-hwan was tapped as culture minister. Reps. Kim Hyun-mee and Kim Young-choon were respectively chosen as minister of land, infrastructure and transport and minister of maritime affairs and fisheries.
NK defies international pressure with missile launch
North Korea fired at least one short-range ballistic missile into the East Sea on Monday, said South Korea’s military, in an apparent effort to demonstrate its advanced ballistic missile capability and use it as leverage for potential negotiation over the regime’s nuclear program. The suspected Scud-type missile lifted off at 5:39 a.m. from the North’s coastal city of Wonsan and flew at least 450 kilometers, according to Seoul’s Joint Chiefs of Staff. The Japanese government said the missile landed in the country’s exclusive economic zone, but there was no report of damage in the area.
The Korea Times (http://www.koreatimes.co.kr)
THAAD launchers brought in without Moon's knowledge
The U.S. military has brought in four additional launchers for its Terminal High Altitude Area Defense (THAAD) battery deployed here, in addition to the two already in operation, Cheong Wa Dae said Tuesday. The Ministry of National Defense, however, failed to share the information with the new administration until very recently, the office said. President Moon Jae-in ordered a full inspection into how the additional launchers were brought in and why this was concealed, describing the incident as "very shocking," according to Yoon Young-chan, the senior secretary for public relations. The revelation could lead to an investigation into former National Security Office head Kim Kwan-jin and Defense Minister Han Min-koo, analysts said. They were appointed to the posts by ousted former President Park Geun-hye.
Foreigner leaps to death from new overpass park in Seoul
A man from Kazakhstan jumped to his death off a new flyover-turned-park in central Seoul on Monday evening, police said Tuesday. The incident came only 10 days after the elevated urban walkway, named Seoullo 7017, opened on May 20. The death leap has raised calls for Seoul City, which is responsible for the park, to introduce measures to prevent such incidents. The elevated walkway stretches over a 10-lane thoroughfare and railroads, which means anything falling could cause a deadly traffic accident. The Kazakhstani, whose identity remains unknown, climbed the 1.4-meter safety fence and jumped at 11:50 p.m. Monday, according to Namdaemun Police Station. People had tried to stop him. The man, who suffered head injuries, was rushed to hospital, but pronounced dead at 7:50 a.m.
New allegation hits foreign minister nominee
Foreign Minister nominee Kang Kyung-wha faces a new allegation that her former subordinate at the United Nations has been involved in her daughter's business. Rep. Lee Tae-kyu of the People's Party claimed a U.N. staffer surnamed Woo, who worked for the Office of the U.N. High Commissioner for Human Rights in Geneva under Kang's supervision, invested 40 million won ($35,590) in a firm owned by Kang's eldest daughter Lee Hyun-ji. Woo's older brother also invested 20 million won in the firm. Last year, Kang's daughter established the company dealing with imported wine and cheese. The 60 million won from the Woo family accounted for 75 percent of the initial capital.
Pres. Trump terminates the normalization with Cuba
It appears that the thaw between the U.S. and Cuba during the Obama administration is freezing again as U.S. President Donald Trump sets to roll back Obama’s Cuba policies for the normalization of the relationship. Trump has threatened to terminate U.S.-Cuba détente since last year’s presidential campaign unless the country makes movement in the right direction on human rights and sweeping economic reform. The Internet-based political magazine the Daily Caller and Reuters reported on Monday that the Trump administration is crafting tightened rules on trade and travel that Obama eased. They said that Trump would announce policy changes in a June speech in Miami at earliest.
Former Panama dictator Noriega of 80s dies
AP News and other news media reported that former Panama dictator Manuel Noriega, a representative dictator in Latin America in the 1980s, died Monday (Monday) at age 83. The ex-dictator was incarcerated at El Renacer prison to service time and was granted house arrest since Jan. 29 to prepare for brain tumor surgery. He was later moved to the Hospital Santo Tomas to have the surgery.
At that time, his lawyer held a press conference in the hospital and said Noriega was in critical condition as bleeding didn’t stop after a second surgery and it was hard to predict his recovery. He was in the intensive care unit but he eventually died.
China's DJI unveils light, ultra-small drone Spark
China's DJI, the world's largest drone manufacturer, has released an ultra-small drone named "Spark." DJI Korea has unveiled Spark for the first time in Korea at the DJI Arena, a drone airfield in Yongin, Gyeonggi Province. Spark embedded "Jesture Control," which controls the drone only with hand motion, for the first time. When facing the palm right below the flying drone and moving the palm in an intended direction, the drone moves in the palm's direction. If one waves his or her hand toward the drone, the drone moves in that direction. If one waves hands toward the drone, a remote filming is possible as the drone parts from the person. If the thumb and forefinger are used to make a square shape, a selfie mode is on.
Tiger Woods caught for drunk driving
Is the "falling Tiger" completely hopeless? Tiger Woods, who has been already struggling amid deep slump, has gotten into another trouble. Tiger Woods was caught for drunk driving by police in Jupiter, Florida where he is residing at 3 a.m. on Monday (local time), and booked into the Palm Beach County detention house, before being released after pledging to appear before court. His blood alcohol concentration and the identity of the passenger in his car have not been made known. “Alcohol was not involved, and I had an unexpected reaction to prescribed medications (for treatment of waist illness). I did not realize the mix of medications had affected me so strongly,”
1/9 of Older Korean Men Are Confirmed Bachelors
One in nine Korean men aged 45 to 54 have either decided to stay single or are having problems getting married. Analysis of 2015 census data shows that some 10.9 percent of men in the age group have never been married, compared to just five percent of women in the same age group. This is the first time that the rate has risen above 10 percent. In 1985, there were almost no men or women in the age bracket who had never been married, at 0.4 percent and 0.3 percent. But the proportion started rising steadily after 2000. Lee Sang-lim at the Korea Institute for Health and Social Affairs said, "The surging number of middle-aged people who stay single all their lives appears to be due to economic slump that has persisted since the Asian financial crisis some 20 years ago, which made it difficult for many to find jobs."
China Softens on Korean Budget Carrier
In another sign that China is softening its unofficial boycott of Korean businesses, Bejing aviation authorities have allowed budget carrier Jeju Air to boost flights to China. A Jeju Air staffer on Monday said the airline has received the green light from Chinese authorities to increase flights from Incheon to Weihai in Shandong Province. Jeju Air sought approval in early April to boost the number of flights to the popular destination from seven to 14 a week but heard nothing back amid a spat between the two countries over the stationing of a U.S. Terminal High-Altitude Area Defense battery here.
Chinese Automakers Launch Marketing Blitz in Korea
Chinese carmakers are launching aggressive marketing campaigns in Korea, offering rock-bottom prices and radical incentives to lure customers. In February, importer China-Korea Motor started selling BAIC Motor's flagship SUV Kenbo 600, the first Chinese passenger car on sale here. The Kenbo 600 is a mid-sized SUV that competes with Hyundai's popular Santa Fe, though in terms of performance, it has a 1.5-liter, 147 horsepower engine more usually equated with compact SUVs. But the Kenbo 600 boasts a fuel efficiency of 9.7 km per liter, as well as cruise control and various sensors that warn the driver of possible accidents. Its sleek design has also drawn many Koreans to showrooms.
Prosecutors could summon prominent figures in reopened Sewol investigation
Following the revelation that Hwang Kyo-ahn (then Minister of Justice) was behind the instructions given to Prosecutors investigating the sinking of the Sewol ferry not to charge the suspects with work-related negligence causing death, Prosecutors are leaning toward the view that they will have to reopen their investigation. Prosecutors believe this issue is at the heart of remarks made by President Moon Jae-in shortly after his inauguration about “reinvestigating the Sewol sinking” and about “the influence-peddling scandal being handed over to Prosecutors before the Special Prosecutor’s period of investigation could be extended.” While Prosecutors released the final results of their investigation into the Sewol sinking in Oct. 2014, critics have said they failed to get to the bottom of the accident.
Park Geun-hye’s trial turns up more evidence of Blue House meddling in Samsung merger
The South Korean government did not raise discussions on whether to approve the merger of Samsung C&T and Cheil Industries with a committee of outside experts advising on stock purchasing decisions by the National Pension Service (NPS), despite the committee’s request for it to do so, a witness in former President Park Geun-hye’s trial has claimed. Witnesses also said the reason the NPS did not go through committee discussions was because “it was apparent the Blue House’s wishes.” The third session of Park’s trial on May 29 under judge Kim Se-yun of the Seoul Central District Court’s 22nd criminal division included witness examinations of former Hanwha Investment and Securities CEO Chu Jin-hyung and former NPS expert committee chair Kim Sung-min.
UN issues rushed response to Secretary General’s comfort women comments
The UN responded to controversy about Secretary-General Antonio Guterres’ expression of support for South Korea and Japan’s comfort women agreement by explaining that Guterres had been making a general statement. “During their meeting in Sicily, the Secretary-General and Prime Minister Abe did discuss the issue of so-called ‘comfort women.’ The Secretary-General agreed that this is a matter to be solved by an agreement between Japan and the Republic of Korea,” UN Spokesperson Stephane Dujarric said in a statement on May 28. “The Secretary-General did not pronounce himself on the content of a specific agreement but on the principle that it is up to the two countries to define the nature and the content of the solution for this issue.”
Moon aims for breakthrough in forming cabinet
President Moon Jae-in named four ruling party lawmakers as ministers Tuesday in an attempt to break through a political impasse preventing his forming of a cabinet. Beyond Moon’s nomination of Lee Nak-yon as prime minister, two previous nominees look unlikely to be approved by the National Assembly. On Tuesday Moon nominated Rep. Kim Boo-kyum of the Democratic Party as interior minister, Park Soo-hyun, presidential spokesman, said. Rep. Do Jong-hwan was named to head the Ministry of Culture, Sports and Tourism. Rep. Kim Hyun-mee was selected as minister of land, infrastructure and transport and Rep. Kim Young-choon was named to head the Ministry of Oceans and Fisheries.
President hits ceiling over 4 Thaad launchers
President Moon Jae-in on Tuesday ordered a thorough investigation into the Defense Ministry’s failure to brief his transition team about the U.S. military’s placement of additional launchers for the Terminal High Altitude Area Defense (Thaad) antimissile system. “The president was briefed that four launchers, in addition to the two already installed in Seongju, were clandestinely brought in and stored in Korea,” Yoon Young-chan, senior secretary for public relations, said Tuesday. “Today, Moon ordered his senior secretary for civil affairs and chief of the national security office to conduct a thorough investigation over how the four additional launchers were brought in.”
Dirtiest power plants to be shut for all of June
The government will temporarily shut down eight coal-powered power plants that have been operating for 30 years or more in an effort to reduce air pollution. The plants will be shut down for the month of June and the Ministry of Trade, Industry and Energy and Ministry of Environment will see what kind of impact that has in reducing air pollution. The Trade Ministry said there are 10 coal-fueled power plants in the country that have been operating for more than 30 years, and it will try to shut them all down by the end of this administration’s five-year term.
Shilla-Dongwha Duty Free feud heading to court
The feud between Hotel Shilla and Lotte Tour Development Chairman Kim Ki-byung, the top shareholder of Dongwha Duty Free, over who will run the troubled business has escalated as the two have taken their battle to the courts. Shilla said on Tuesday that it filed a suit against Kim last month, asking a court to order him to cough up 78.8 billion won ($70 million). The amount is what Kim borrowed from Shilla in 2016, including 71.6 billion won for a 19.9 percent stake, or 358,200 shares in Dongwha and 7.2 billion won in interest and fees. The five-star hotel also asked the court to freeze the 8.65 million shares Kim owns in Lotte Tour Development, operator of the duty-free store. Kim owns 43.55 percent of the company.
Ultra-HD broadcasts go live
Ultra-high-definition broadcasting, which promises to be four times clearer than high-definition service currently available, will go live in the Seoul metropolitan area today, the Ministry of Science, ICT and Future Planning and the Korea Communications Commission said Tuesday. The UHD broadcasts will begin at 5 a.m. on three Korean stations: KBS, MBC and SBS. Serviced areas include the cities of Seoul and Incheon and the province of Gyeonggi. UHD transmission marks a major step in Korea’s broadcasting industry, which began airing digital broadcasts in 2001.
President Moon Seeks "Understanding" from the People and the Opposition on Controversial False Resident Registrations
On May 29, President Moon Jae-in spoke on the heated debate over the false resident registrations of a handful of nominees for senior public office and said, "We ask the people and opposition lawmakers for their understanding, since the problems occurred due to the lack of preparation time." The appointment of Lee Nak-yeon as prime minister is expected to pass in the National Assembly on May 31, after opposition parties, with the exception of the Liberty Korea Party, decided to cooperate with the approval of the appointment. The appointment of cabinet members is also expected to accelerate.
Floodgates to Be Open All Month, But Only to Release a Trickle of Water
The government decided to keep the floodgates of six dams, among the sixteen dams in the four major rivers, open at all times beginning June 1. However, experts criticize that plans to lower the water level in the dams by 69cm (average of the six dams) is not nearly enough to improve the water quality, such as reducing the green algae. From the government office in Sejong on May 29, the government jointly announced in the name of five offices he Office for Government Policy Coordination, the Ministry of Environment, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Land.
The Korea Economic Daily (http://english.hankyung.com/)
Prez. Moon Orders Thorough Investigation on How 4 More THAAD Launchers were Brought in
President Moon Jae-in, after hearing that four more launchers for the controversial Terminal High Altitude Area Defense (THAAD) anti-missile system had been brought into the country in addition to the two launchers already installed in Seongju in North Gyeongsang Province, instructed on May 30 to Cheongwadae secretaries that the government must investigate the matter thoroughly. Yoon Young-chan, Presidential Senior Advisor for Communication with People, said in a briefing, "President Moon said it was shocking to hear that additional launchers were brought in without the government knowing about it. The President immediately called Defense Minister Han Min-goo and confirmed the fact."
State-run Enterprises Reluctant to Hire New Workers Since Government's Job Security Policy
After the new government announced its policy stance to minimize the number of contract-based workers in the public sector, state-run enterprises have stopped making new job announcements. According to Job-Alio, an aggregate hiring information site for public sector jobs, on May 30, the number of state-run companies that have put out hring announcements for contract-based and temporary workers for the 16-day period between May 13 and 28 was only 165 since the President's declaration related to job security. That's because of fears on the part of the employers that they will have to convert the newly hired workers into regular ones even after signing them in as temporary employees.
GE Power Establishes HRSG Unit in Changwon
A manufacturing plant to produce heat recovery steam generators (HRSGs) for America's GE has been set up in Changwon, South Gyeongsang Province, on May 30. GE Changwon is one of the most important units for GE Power. The company was expanded substantially last year after acquiring the HRSG unit of Doosan Engineering & Construction at 300 billion won in order to meet the demand from combined-cycle power generation solutions. Afterward, GE established GE Power Systems Korea under GE Power. Last year, GE Power supplied 486 HRSGs in 44 countries. HRSG is a technology to improve the energy efficiency by delivering gas heat and energy into steam turbine. The technology is capable of increasing the power generator's output by up to 33 percent. GE Power plans to increase the capacity of the Changwon plant gradually. Currently there are 300 engineers and administrative staff in the plant.
Daily Average Transaction Volume for Smartphone Banking Reaches 3.6 Tril. Won
The number of customers who have registered with smartphone banking services during the first quarter of this year reached 60 percent of all Internet banking users. During the same period, the daily average amount of smartphone banking transactions was 3.6 trillion won. According to a report "1Q 2017 Internet Banking Service Trend" published by the Bank of Korea on May 30, the total number of Internet banking users (including users of smartphone banking) as of the end of March this year was 125.32 million, up 2.3 percent from the same period last year. Of these, the number of individual users and business users was 117.34 million and 7.99 million, respectively, up 2.2 percent and 2.6 percent year on year.
AJU Business Daily (http://eng.ajunews.com/korea)
Moon expresses shock at secret delivery of four more THAAD launchers
South Korean President Moon Jae-in expressed shock at the secret delivery of four more launchers for a US missile shield and ordered a full investigation, as public anger flared over how the sensitive issue was not disclosed. The defense ministry has kept under wraps the arrival of four additional launchers for a Terminal High Altitude Area Defense (THAAD) system, the president's office said.
US troops brought in two launchers on March 6 with consent from Moon's conservative predecessor, Park Geun-hye, and deployed them on April 26 in Seongju some 200 kilometers (124 miles) southeast of Seoul. Four more launchers have been brought in later, but the delivery was not reported even after the new government took office on May 10, Moon's chief press secretary Yoon Young-chan told reporters.
Daughter of ex-president Park's crony arrested on Korean Air plane
Prosecutors arrested the daughter of jailed ex-president Park Geun-hye's crony who played a key role in a corruption scandal after she boarded a Korean Air plane in Amsterdam to face an investigation at home, the Justice Ministry said. The plane is to arrive in South Korea later in the day. Chung Yoo-ra, 21, was repatriated from Denmark after she dropped her appeal against an extradition order. She had been in custody since she was arrested in January on charges of illegal stay. Chung will be questioned over allegations that she took undue favors from Ewha Womans University regarding admission and academic affairs by taking advantage of close ties between her mother and Park. Chung's mother was indicted for meddling in state affairs and siphoning off money from two public foundations created with corporate cash donations.
Poet-turned lawmaker nominated as new culture minister
Do Jong-hwan, a poet-turned lawmaker, was picked as new minister for culture, sports and tourism as President Moon Jae-in nominated four ruling party lawmakers as cabinet members. Do, 62, was a school teacher and a part-time poet until the death of his wife compelled him to write "You, My Hollyhock", the best-selling 1986 collection of love poems which brought him critical acclaim and fame. He was once jailed for activities for a teacher's union, became a Democratic Party lawmaker in 2012, and served as Moon's adviser. Do became the 10th minister for Moon's 18-member cabinet. Kim Boo-kyum was tapped as interior minister and Kim Hyun-mee will head the land, infrastructure and transport ministry. Kim Young-choon was made minister for oceans and fisheries.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
SK Innovation aims to command 30% of global battery market by 2025: CEO
South Korea’s largest refiner SK Innovation Co. vows to boost investment in battery technology and develop new chemical businesses as part of efforts to seek sustainable growth, the company’s chief said on Tuesday. At a press conference held at the company’s headquarters in Seorin-dong, central Seoul, Kim Jun, chief executive and president of SK Innovation, said that the company will strive to transform its structure to one that is capable of posting sustainable growth by focusing on next-generation battery and chemical businesses.
Bold diplomatic solutions on top of sanctions will help solve NK Nuke: Chinese ambassador
Bold actions like synchronized suspension of military drills in the South and provocations in the North and negotiations for denuclearization in return for peace treaty must be pursued along with pertinent pressure to solve the North Korean nuclear problem, said Qiu Guohong, Chinese Ambassador to Seoul. Speaking at a Maekyung Economist Club event hosted by Maeil Business Newspaper in central Seoul on Monday, Qiu said yelling and flexing muscles won’t help in the goal of denuclearization, lasting peace and stability in the Korean Peninsula. He quoted an ancient Chinese war strategy to stress that one should leave a way out in besieging an enemy to argue that sanctions alone won’t help to solve North Korean nuclear problem.
Korean govt likely announce its nuclear power phase-out plan next month
South Korean President Moon Jae-in is expected to announce his roadmap to phase out from heavy reliance on nuclear energy on June 19 while attending a ceremony closing down the country’s first reactor. During a briefing session of the presidential planning and advisory committee on Monday, Lee Kae-ho, head of the commission’s second economic team, urged nuclear related organizations including the Nuclear Security and Safety Commission (NSSC) to map out long-term outline of shifting energy policy more oriented towards renewable clean sources from fossil-fueled and nuclear reactors that carry environmental and security risks as promised by Moon during campaign.
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