The Korean daily media headlines and humor

The Korean daily media headlines and humor

Monday, July 17, 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.koreapost.co.kr) in Korean.

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

Seoul Proposes Inter-Korean Meeting to Discuss Family Reunion

The South Korean Red Cross has proposed a meeting with its North Korean counterpart on August first to arrange reunions of families separated by the Korean War.

The acting president of the South Korean Red Cross, Kim Sun-hyang, revealed the proposal in a news conference on Monday. Seoul proposed the two Koreas' Red Cross agencies meet at the South's side of the Panmunjeom truce village on August first for the family reunion. The proposal came in the wake of President Moon Jae-in's peace offers during his recent speech in Berlin, Germany. He proposed reunions of families separated by the War on the October fourth Chuseok holiday, often described as Korea's Thanksgiving.

2 Dead Following Heavy Rain in Central Region

Heavy rain pounded the central region on Sunday, leaving two people dead and four missing. The Ministry of Public Safety and Security said that as of 6 a.m. Monday, two died in a landslide in Cheongju, North Chungcheong Province, which received 290 millimeters of torrential rain. More than 680 homes were flooded and 517 people were displaced across the nation. About five thousand hectares of farmland was flooded and 52 vehicles were submerged.

US Investigates Chinese Firm Tied to N. Korea

The U.S. has reportedly launched an investigation into a Chinese company allegedly involved in illicit trade with North Korea. Japan’s Yomiuri Shimbun daily said on Saturday that the Trump administration is probing a trading company based in the Chinese border city of Dandong, where the majority of trade between China and North Korea takes place. The U.S. Justice Department has been granted seizure warrants against eight banks to investigate bank accounts held by the Chinese trading company in the U.S.

--------------------------------------------------------------------------------------------------------

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

S. Korea offers inter-Korean military, Red Cross talks

South Korea on Monday proposed holding inter-Korean military talks later this week on reducing tensions along the border, a follow-up to President Moon Jae-in's recent peace overture made in his Berlin speech. Seoul wants to have the rare meeting Friday at Tongilgak, a North Korean building in the truce village of Panmunjom, according to the Ministry of National Defense. Its aim is to halt "all acts of hostility" near the Military Demarcation Line (MDL) that bisects the two Koreas, the ministry said in a statement read out by Vice Minister Suh Choo-suk.

S. Korean champion credits caddie in 1st major victory

The latest U.S. Women's Open champion credited her caddie for helping close out her first major title. South Korean Park Sung-hyun won the 72nd edition of the oldest major in women's golf in New Jersey on Sunday (local time), shooting a five-under 67 in the final round at Trump National Golf Club in Bedminster for a four-round total of 11-under 277. Park, an LPGA rookie, defeated South Korean amateur Choi Hye-jin by two strokes. Park started the day at six-under, three shots off the lead, held by Feng Shanshan of China, but some clutch plays on the back nine catapulted her to the monumental victory.

Top conglomerates stingy in making public donation

Listed firms of the nation's top 10 conglomerates were stingy in making public donations last year, even though their profits increased, industry data showed Monday. According to the data by market researcher Chaebul.com, listed firms of the conglomerates donated 963.2 billion won (US$847.8 million) last year, down 1.7 percent from a year earlier. Last year, their combined operating profit rose 4 percent on-year to 44.5 trillion won, the data showed. Listed affiliates of Samsung, Hyundai Motor, Lotte, POSCO and GS groups cut their public donations last year.

--------------------------------------------------------------------------------------------------------

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

Korea set for big hike in minimum wage, to spend W3tr for SMEs

The South Korean government on Sunday decided to spend some 3 trillion won ($2.6 billion) to help smaller businesses offset an increase in labor costs, after a panel hiked next year’s minimum hourly wage by the biggest margin since 2000. In a late-night decision on Saturday, the Minimum Wage Commission, representing labor, management and the general public, set the lower limit of wages at 7,530 won for 2018, up 16.4 percent from this year. It was the biggest gain since 2000, when the bar was moved up by 16.6 percent. This year’s minimum wage was 6,470 won per hour, up 7 percent from a year ago.

Korean golfer Park Sung-hyun wins US Women's Open

South Korean Park Sung-hyun has captured the oldest major championship in women's golf. The 23-year-old LPGA rookie won the US Women's Open at Trump National Golf Club in Bedminster, New Jersey, on Sunday (local time), thanks to an impressive final round of five-under 67. At 11-under 277, Park defeated South Korean amateur Choi Hye-jin by two strokes to claim her first major title. Park, an LPGA rookie who previously dominated the Korea LPGA Tour, is the eighth South Korean winner of the US Women's Open. This was the 72nd edition of the championship.

Gay pride parade in Seoul draws record number

Tens of thousands of people marched through central Seoul on Saturday to stand up for equality for sexual minorities in South Korea’s biggest pride parade, despite vocal opposition from anti-gay protesters.

Despite sporadic rain, 85,000 lesbian, gay, bisexual and transgender people and their supporters gathered at Seoul Plaza, rally organizers said. It was the largest crowd that the pro-gay event, held as part of the Korea Queer Culture Festival, has attracted since the inaugural event in 2000. Last year’s parade, the previous record-setter, had drawn about 50,000.

--------------------------------------------------------------------------------------------------------

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

22-year record rainfall hits Chungcheong

Households were evacuated and more than 500 rescue reports were filed following record heavy rainfall in Cheongju, North Chungcheong Province, Sunday. Local authorities confirmed two deaths, 58 and 80, both women caught in a landslide in the city. One more was reported missing at the time of reporting. According to the Korea Meteorological Administration (KMA), the city had 290.1 millimeters of rain, the most in 22 years since August 1995 when it had 293 millimeters of rain. The amount will exceed the 1995 record as 90 millimeters of rain is falling per hour in the region. The Ministry of Public Safety and Security issued a warning to residents advising against outdoor activities, due to possible landslides.

Airbnb host fined for discriminating against Asians

An Airbnb host who canceled a Korean-American woman's reservation because of her ethnicity and made racially provocative comments has been ordered to pay $5,000 damages for racial discrimination.

"I wouldn't rent to you if you were the last person on earth," said Tami Barker, the Airbnb host, who cancelled the woman's reservation by text. "One word says it all: Asian. It's why we have Trump." Barker also added that she would "not allow this country to be told what to do by foreigners." Dyne Suh, 26, posted a YouTube video right after the incident. Suh booked Barker's home for $250 a night a month in advance to enjoy the President's Day weekend in February with her fiance and friends. She later confirmed with Barker that it was okay to bring her friends over if she paid additional cash.

Smoking gun for Choi scandal?

The sensitive documents of the former Park Geun-hye government, found and disclosed by the Moon Jae-in administration, are expected to affect the ongoing trials of Lee Jae-yong, the de facto leader of Samsung Group, as well as Park and her close friend Choi Soon-sil. Lee is facing charges of offering bribes to Park and Choi in return for business favors including facilitating his succession of power and wealth from his father, group Chairman Lee Kun-hee. Park and Choi are also standing separate trials for their involvement in the Samsung bribery case and other charges. All three of the suspects have been denying their bribery charges. But some of more than 300 documents, created by the Park government, may be used as new evidence as they suggested the former government had at least sought to support a major merger deal between the Samsung subsidiaries.

--------------------------------------------------------------------------------------------------------

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

Chinese mobile phone export to N. Korea doubles from last year

China’s mobile phone exports to North Korea from January to May have doubled comparing to last year. China announced that it would ban coal imports from North Korea in February and it appeared that the country intended to step up the pressure on the North. Instead, Chinese exports to North Korea surged centering on consumer goods such as mobile phones, home appliances, textiles and groceries.

The Dong-A Ilbo studied detailed statistics on trade items between China and North Korea listed in the General Administration of Customs of China, provided by the Korea International Trade Association on Sunday and the result found that the total export volume of China on North Korea was 50 million U.S. dollars (about 56.6 billion won) for the first five months of this year, increasing by 104.5 percent year-on-year.

Even labor sector surprised at hourly minimum wage increase to 7,530 won

President Moon Jae-in, who sought to persuade the labor sector by asking them to wait just one more year has given the labor sector as his first gift. The Minimum Wage Committee has fixed next year’s hourly minimum wage at 7,530 won (6.64 U.S. dollars), up 16.4 percent from this year. The hike is quite drastic since it is even higher than the government’s pledge (at least 15.6 percent per year), and entails a double-digit increase for the first time in 11 years. The raise is the highest in terms of amount and the fourth highest in terms of increase rate. The so-called "J-nomic (Moon Jae-in government’s economic policy)" that calls for income-led growth is picking up speed in the wake of the minimum wage hike.

Salaried workers take less than 8 days of annual leaves

It is already mid-July, but Lee (31) has yet to set her summer vacation plan. She could not do it because her team leader has yet to disclose leave schedule. “Due to the mood in my office wherein workers set their vacation schedules in order of durations of service at the company, I cannot afford to choose my favorite schedule before them,” Lee said. “Many of the youngest employees in teams even miss the chance to take summer vacations while waiting for senior workers to fix their schedules.”

--------------------------------------------------------------------------------------------------------

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

New Radar to Detect N. Korean Drones

South Korea has completed development of a new perimeter or localized air-defense radar that can detect small North Korean drones. The radar is designed to defend a specific area, military unit or facility from air strikes. The Defense Acquisition Program Administration said Friday the radar has been in development since 2011 and recently passed combat suitability tests. Mass production will start next year, and it will first be deployed at Army and Marine units on the northwesternmost islands off the North Korean coast.

Young Jobseekers Skip Summer Vacation

Airports are packed with travelers as the peak holiday season approaches, but taking a vacation is a luxury for young jobseekers, with two out of five having no vacation plans, a straw poll suggests.

In the poll of 566 jobseekers by job portal Saramin, 43 percent said they do not plan to go on holiday this summer. Asked why, more than half said they would feel too anxious. About half also said they cannot afford it, while other reasons were that they are busy preparing for their job interviews (43 percent) and concern for their family (17 percent). Ten percent said they simply have no friends to go with.

More Than Half of Koreans Own a Car

More than 22 million cars are now registered in Korea, which means that more than half of Korean adults have a car. As of the first half of the year there were 22.19 million cars on the roads, one for each 1.93 adults and up 1.8 percent from the end of last year, the Ministry of Land, Infrastructure and Transport said Saturday. Imported cars accounted for eight percent, up 0.5 percentage points from late last year.

Some 15,900 of the total were electric vehicles, a 35-fold increase from five years ago thanks to government incentives.

--------------------------------------------------------------------------------------------------------

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

US asking S. Korea to increase defense cost share, while using funds for relocation

“We will always defend our allies. As part of that commitment, we are working together [with South Korea] to ensure fair burden sharing in support of the US military presence in South Korea. Burden sharing is a very important factor. A factor that is becoming more and more prevalent, certainly in this [US] administration,” said President Donald Trump during his joint press conference with South Korean President Moon Jae-in at the White House on June 30 following their summit. Trump’s remarks imply that he will keep pressuring South Korea to increase its share of defense costs. Cost-sharing has once again become a bone of contention for the South Korea-US alliance.

South Korean electricity demand to peak in 2030, suggesting a period of low growth

South Korea’s peak demand for electricity in 2030 will be 101.9GW, which is much lower than the 113.2GW demand that was forecast two years ago, a group of experts predicts. The 11.3GW decrease is equivalent to the installed capacity of 7 to 10 nuclear reactors (which each generate between 1.1 and 1.5GW). This hints that major changes are coming to the current plan, which presumes the necessity of operating two more nuclear reactors in 2028 and 2029. At COEX, in the Samsung neighborhood of Seoul, on July 13, a working group for predicting demand for the eighth basic plan for electric power supply and demand, which is composed of private-sector experts appointed by the Ministry of Trade, Industry and Energy, released their predictions for domestic power demand between 2017 and 2031 that will be reflected in the eighth electric power plan.

Dongducheon residents oppose plans to leave behind residual US forces

Dongducheon residents are up in arms over US Eighth Army Commanding General Thomas Vandal’s recent comments about residual US forces in the Gyeonggi Province city.

During a July 14 press conference at Dongducheon City Hall, a group of residents calling itself the Pan-Citizen Committee for a Response to the US Military Redeployment urged Seoul to refuse to accept the US military’s unilateral decision to leave residual forces and to take measures in response. “During a talk with reporters for the Command opening ceremony on [July] 11, US Eighth Army Commander Thomas Vandal said the 210th Artillery Brigade would be left in Dongducheon as a residual force until the South Korean military establishes the necessary capabilities,” the committee said in a statement.

----------------------------------------------------------------------------------------------------------------------------

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

Seoul offers military, family reunion talks to Pyongyang

Minimum wage to be set at 7,530 won next year

National labor representatives and companies finally agreed on Saturday to set next year’s minimum wage at 7,530 won ($6.64) per hour, up 16.4 percent from last year. This is the first time since 2007 that the minimum wage rose by double digits - and the hike is the biggest since 2001. President Moon Jae-in has promised to raise the wage to 10,000 won per hour by 2020. To do that, it must increase 15.7 percent every year until then. The Minimum Wage Commission came to an agreement one day before the legal deadline for the change to go into effect for next year.

Rains flood North Chungcheong

At least two people died, one went missing, trains stopped running and more than 500 houses, markets and factories were flooded in North Chungcheong on Sunday. From the early morning hours to 3 p.m., it rained a total of 290.1 millimeters (11.4 inches) in Cheongju, 225 millimeters in Jeungpyeong County, 173 millimeters in Goesan County and 149.5 millimeters in Jincheon County, according to the Korea Meteorological Administration (KMA). The rainfall in Cheongju was the most the city has had in one day since Aug. 25, 1995, when it rained 293 millimeters. In the city on Sunday, it rained 91.8 millimeters per hour, the most on record for July.

--------------------------------------------------------------------------------------------------------

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

Power Demand in 2030 to Decrease by an Amount of Power Generated by 8 Nuclear Power Plants

Electricity demand forecasts for 2030 were significantly lower than previous estimates. This means that the number of additional power plants we need to construct will also go down. The Moon Jae-in government's nuclear and coal power phase-out policy is expected to gain momentum. A working group on demand forecasts consisting of private consultants held a meeting at COEX in Gangnam-gu, Seoul on July 13 and released their draft estimates for power demand in connection to the 8th Basic Plan for Power Supply (2017-2031). The government has drawn up 15-year plans for stable mid to long-term power supply every two years, and power demand is the basis of this basic plan.

U.S. Formally Takes Action to Revise South Korea-U.S. FTA

The United States requested a joint committee to review the free trade agreement with South Korea on July 13. The two countries need to reach an agreement in order to begin negotiations on amending the free trade agreement, but since it is difficult for South Korea to refuse the U.S. request, this practically launches negotiations to revise the bilateral trade agreement. The United States Trade Representative (USTR) released a statement on July 12 (local time) and said, "United States Trade Representative Robert Lighthizer today, as directed by President Trump, formally notified the Republic of Korea that the United States is calling a special Joint Committee meeting under the U.S.-Korea Free Trade Agreement (KORUS) to start the process of negotiating to remove barriers to U.S. trade and consider needed amendments to the agreement." When the U.S. requests a joint committee meeting, South Korea, in principle, must respond within thirty days.

Chung Yoo-ra, "There's No Way Samsung Did Not Know About the 'Horse Laundering'"

On July 12, Chung Yoo-ra (21), the daughter of Choi Soon-sil (61) appeared as a witness in the trial of Lee Jae-yong (49), vice chairman of Samsung Electronics, and poured out a stream of testimonies that drove Samsung, Choi, and former President Park Geun-hye (65) into a corner. Chung said, "I thought that I owned the horse that Samsung gave me," and insisted, "There's no way Samsung did not know," about the alleged 'horse laundering.' On July 11, Chung's lawyer had submitted a letter of reasons for Chung's refusal to appear in court, but Chung appeared without consulting her lawyers.

--------------------------------------------------------------------------------------------------------

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

2018 Minimum Wage of 7,530 Won May Cause Inflation to Rise and Pose Burden to Low-income Earners

Due to a 16.4-percent hike in the minimum wage level to 7,530 won, prices will likely rise as well. After all, the burden due to the minimum wage increase would be shouldered by everyone in our society. Rep. Lee Yong-ho (People's Party), Chairman of the Policy Committee, said on July 16 in a press briefing at the National Assembly, "There is a possibility that the increase in the minimum wage level would cause the overall prices to rise. In a situation where housing prices are on the rise, this may trigger the inflation trend." According to a report published in 2015 by the Korea Labor Institute, for every 10-percent increase in minimum wage the whole wage level would rise by 1 percent and the overall prices by 0.2-0.4 percent. In particular, sectors on which low-income earners rely heavily such as foodservice and lodging (0.5-0.7%), education and health services (0.4-0.5%), and social and other services (0.4-0.5%) were more subject to minimum wage increases.

Japanese Nuclear Power Industry Moves Aggressively While Korean Rival Lags Behind

Japan's Mitsubishi Electric has agreed to develop control devices for small modular reactors (SMRs) jointly with America's nuclear power company. It is also in talks with Russian partners in order to take part in a project commissioned by the country's state-run electricity utility RosAtom. While Korea is gradually moving away from the nuclear power industry after the government ordered the construction of Shin-Gori nuclear reactors to be halted temporarily, Japan is aggressively taking on the global nuclear power construction market.

CJ Cheil Jedang Sells off All Its Holdings in Samsung Life

CJ Cheil Jedang is set to undertake a demand forecast with institutional investors as part of an effort to sell off all its 1.49-percent stake (2,985,850 shares) in Samsung Life. This is worth 368.8 billion won based on July 11 closing price of 123,500 won. The company is pushing forward with a plan to sell the stake with a 2-4 percent premium. Citi Global Market and BNP Paribas are responsible for handling the underwriting.

--------------------------------------------------------------------------------------------------------

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

South Korea to aid $6 mn in North Korea’s 2017 census

North Korea, which has so far resisted overtures from the new South Korean government that has been less hard-line than previous conservative administrations, will likely receive $6 million from Seoul to help finance this year’s census activity in North Korea According to the South Korean government on Thursday, Han Sung-yeol, North Korea’s deputy foreign minister, visited the UN Population Fund (UNFPA) office in New York last month and asked for funding for its census activity this year. The UNFPA asked Seoul if it can contribute $6 million. In return, it proposed that Pyongyang share the census finding with Seoul and allow South Koreans to train the surveyors.

Hyundai Motor unveils its first high-performance car i30 series

South Korea’s largest automaker Hyundai Motor Co. world premiered its first-ever high-performance car series in Germany on Thursday (local time), two years after it vowed to take on leading high-performance car brands in the world auto market. The company unveiled two high-performance i30 models - i30N and i30 Fastback in Dusseldorf, Germany. The i30N is the first of the Korean automaker’s revved-up N series cars. All eyes are on whether the Korean car giant would succeed in upgrading its image for a maker of value for money cars with the high-performance N series.

Prosecutors raid KAI offices in probe over a series of corruptions

South Korean prosecutors raided offices of Korea Aerospace Industries Ltd. (KAI) - the country’s largest defense company and sold aircraft maker - on Friday on allegations on a series of its collusions with the military and corruptions related to defense procurements. According to the prosecution on Friday, the Seoul Central District Prosecutors’ Office raided the headquarters of KAI in Sacheon, South Gyeongsang, and its office in Seoul amid suspicions that it made illicit gains by overstating the price of some defense equipment and manipulating cost such as development expense. Dozens of investigators were sent to the sites to secure related documents including accounting references as well as digital sources saved on hard drives and mobile phones of related officials.

--------------------------------------------------------------------------------------------------------

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 Timeswww.nytimes.com inytletters@nytimes.com

Wall Street Journalwww.wsj.com support@wsj.com,service@wsj-asia.com

Financial Times www.ft.com ean@ft.com

The Timeswww.thetimes.co.uk help@timesplus.co.uk

The Sun www.thesun.co.uk talkback@the-sun.co.uk

Chinese People's Dailywww.people.com.cn kf@people.cn

China Dailywww.chinadaily.com.cn circulation@chinadaily.com.cn

GwangmyeongDailywww.gmw.cn webmaster@gmw.cn