The Korean daily media headlines and humor

The Korean daily media headlines and humor

Wednesday, August 16, 2017

Your Excellency:

Here are The Korea Post notices and a roundup of importantheadlines 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

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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/)

KCNA: N. Korean Leader Examines Guam Attack Plan

North Korean leader Kim Jong-un is deferring, for now, any action on his military's plan to fire ballistic missiles to areas surrounding the U.S. territory of Guam. However, North Korean state media said that the North's leader ordered his military to stand ready for action at anytime. North Korea's state-run Korean Central News Agency(KCNA) said Tuesday that Kim Jong-un plans to wait and see how the U.S. will behave. Kim called for readiness to fire at any time, saying he will have to make an important decision if the U.S. continues what he described as "extremely dangerous reckless actions." The young North Korean leader's remarks came as he was briefed extensively on a military plan to attack Guam by the North's rocket force commander, Gen. Kim Rak-gyom at the missile command headquarters.

Hyundai, Kia Eye Advances in Autonomous Driving

South Korea's top two automakers say the next big step forward in autonomous vehicle technology is getting the car and the road to talk to each other. Hyundai Motor and its sister firm Kia Motors say it is working with the city of Hwaseong in Gyeonggi province to conduct tests of a system called V2X, which stands for "vehicle to everything." The aim is for vehicles to exchange real-time information with the road, signal lights, other cars and even pedestrians. The car makers say such information is a critical addition to the data gathered by onboard cameras, radars and sensors in making autonomous navigation safe.

Moon: No War on Korean Peninsula

Marking the 72nd anniversary of Korea's liberation from the Japanese colonial occupation, President Moon Jae-in on Tuesday delivered a speech at the official commemoration event. He addressed key issues, including evolving North Korean military threats and the South Korea-Japan relations. "The greatest challenge we are facing now is North Korea's nuclear capabilities and missiles. The government is very gravely recognizing the current security situation. The government will resolve the security crisis based on strong South Korea-U.S. alliance by closely collaborating with the U.S." "But we cannot rely entirely on our allies for our security. We must take the lead in resolving the Korean Peninsula issues. The interests of the Republic of Korea is the priority. No war should break out on the Korean Peninsula again. A military action on the Korean Peninsula can only be determined by the Republic of Korea and without our consent, no one can proceed with a military action. The government will do everything to prevent war. The North Korean nuclear issue must be solved peacefully."

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

Tillerson: U.S. still interested in talks with N. Korea

The United States continues to be interested in dialogue with North Korea, Secretary of State Rex Tillerson said Tuesday, as the two sides appeared to tamp down escalating tensions over the regime's nuclear and missile programs. Tillerson made clear, however, that the ball is in North Korea's court. "We continue to be interested in finding a way to get to a dialogue but that's up to him," he told reporters at the State Department, referring to the North's leader, Kim Jong-un, after announcing the release of a new religious freedom report.

Foreign investors raise S. Korean stock holdings for 8th month

Offshore investors remained net buyers of South Korean stocks for the eighth consecutive month in July, with their stock holdings exceeding 600 trillion won (US$526.4 billion) for the first time, official data showed Wednesday. Foreign investors boosted their holdings of local stocks by a net 579 billion won in July to 605.7 trillion won, according to the data by the Financial Supervisory Service. For the first seven months of this year, offshore investors bought a net 11.4 trillion won worth of shares on the bourse.

N. Korea continues to punish religious practice: annual U.S. report

The North Korean government continued to punish those engaging in religious practices last year, with executions, torture and other abuse, the U.S. State Department said in an annual report Tuesday. In the 2016 Annual Report on International Religious Freedom, the department reconfirmed human rights abuses the North has long been accused of, including its denial of the right to religious freedom. "The government continued to deal harshly with those who engaged in almost any religious practices through executions, torture, beatings, and arrests," the report said. "An estimated 80,000 to 120,000 political prisoners, some imprisoned for religious reasons, were believed to be held in the political prison camp system in remote areas under horrific conditions."

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

North Korea backs off missile attack as US ups pressure on China

Tensions between the US and North Korea showed signs of winding down, with Pyongyang backing off from its threat to fire missiles toward Guam as Washington ratcheted up pressure on China to rein in its wayward ally. After being briefed by the military about plans for missile launches, North Korean leader Kim Jong-un said he would watch the conduct of the US “a little more” before deciding whether to order the firings, Pyongyang’s state-run Korean Central News Agency reported Tuesday. “The United States, which was the first to bring numerous strategic nuclear equipment near us, should first make the right decision and show through actions if they wish to ease tensions on the Korean Peninsula and prevent a dangerous military clash,” Kim was cited as saying by the KCNA.

Is Samsung really doomed without its heir?

With the sentencing of Samsung’s heir apparent Lee Jae-yong slated for next week, there have been growing speculations over whether the tech giant will change its previous strategy on consolidating his leadership. There is general consensus among Samsung insiders as well as chaebol reformists that the conglomerate will not give up on Lee and will try to put his succession back on track. But they differ on the question of whether Samsung does not have a future without him. Samsung has no “contingency plan” even if the worst scenario happens to Lee, a Samsung Electronics executive was quoted as saying by Yonhap News Agency on Monday, indicating that Lee’s position is irreplaceable.

Korean retailers stop egg sales after fipronil found in some eggs

Major Korean retailers, convenience store chains and online retailers decided Tuesday to immediately halt sales of eggs at their branches nationwide after the government warned of pesticide-tainted eggs earlier in the day. It is unprecedented for all of the country’s major retailers to stop selling eggs simultaneously. The companies include the nation’s three largest retail firms, E-mart, Homeplus and Lotte Mart, as well as leading convenience store chains CU, GS25 and 7-Eleven. E-mart’s spokesperson said, “The company has not purchased any eggs from the farm that is currently accused of shipping contaminated eggs, but decided to stop sales as a preventive measure.”

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

North Korea backs off Guam threat

North Korean leader Kim Jong-un has called off his threat to fire ballistic missiles into seas off the U.S. territory of Guam, easing tension on the Korean Peninsula. In his first public appearance in two weeks, Kim inspected the army command Monday and got a briefing on its military's detailed plan to strike Guam, the North's official Korean Central News Agency (KCNA) reported Tuesday. During the inspection of the army, Kim said he will watch the "foolish and stupid conduct of the Yankees" for now and make a "grave" decision if Washington continues its "extremely dangerous" actions on the Korean Peninsula, Pyongyang's state media said.

Lawmaker to submit bill on informing N. Koreans

Rep. Ha Tae-keung from the minor opposition Bareun Party plans to submit a bill this week to disseminate information to the North Korean people. Ha said in a forum, Tuesday, that the bill, if passed, would be the most effective tool to undermine the Kim Jong-un regime, in addition to international sanctions. "If outside information was effectively distributed to the isolated nation, I believe the nuclear problem would not exist now," said Ha, a former human rights activist. He said he will submit the bill Wednesday with the support of 10 other lawmakers.

Moon Jae-in urges Japan to face up to wartime past

President Moon Jae-in said Tuesday he will not overlook Japan's wartime atrocities, although he put emphasis on "forward-looking" relations with Tokyo for regional peace and prosperity. In his speech to mark the 72nd anniversary of the liberation of the Korean Peninsula from Japanese colonial rule from 1910 to 1945, the President accused the Japanese government of an "inconsistent acknowledgment of history." He still called on a need to bolster bilateral cooperation, saying South Korea has "no other choice" but to better cope with North Korea's growing nuclear and ballistic missile threats.

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DongA Ilbo (http://english.donga.com)

‘No military action could be done without S. Korea’s consent,’ says Moon

“No one could decide on military action without consent of the Republic of Korea,” President Moon Jae-in said on Tuesday. “We will prevent war by using every measure available.” “We will wait to see what the foolish Yankees do next,” North Korean leader Kim Jong Un said when briefed on a plan to launch an attack on Guam, suggesting that he can start dialogue. With the threat of war between the U.S. and North Korea seen to be abating for now, President Moon is reiterating the principle of peaceful resolution of the North’s nuclear crisis by calling for Seoul’s taking "the driver’s seat in the Korean Peninsula affairs."

'Soldiers will become combat heroes in event of N.K.’s provocation,' says defense minister

“The defense of northwestern Islands and the Northern Limit Line in the Yellow Sea is the core of national defense,” Defense Minister Song Young-moo said. He has ordered Sunday the military units in the area to engage in combat confidently if and when North Korea makes a provocation. According to the South Korean military authority, Song made the remarks while visiting the Yeonpyeong Unit in Yeonpyeong Island in the Yellow Sea on the day to check combat preparedness. After paying tribute at the memorial monument for the fallen soldiers in the Second Yeonpyeong Naval Battle and the memorial tower for the fallen heroes in the North’s artillery attacks on the island, Song held a videoconference with commanders in charge of respective military subunits in northwestern islands at the island's command center.

Independence fighter's monument damaged by Russian extremists

The monument established in the Maritime Province in Russia (or Yeonhaeju) for remembering the independence activist Jang Do-bin (1888-1963) was ruined four years ago. The Ministry of Patriots and Veterans Affairs was not aware of such incident until now. As a historian and an anti-Japanese colonist fighter who sought asylum in Yeonhaeju, Jang was the first to argue that the remains of the ancient Balhae Kingdom was found there. In an interview with the Dong-A Ilbo on Aug. 3, the chief of Alexander Cru-6-co Federal Research Center for Balhae at the Far-east Federal University of Education said, "The municipal office made its decision to transfer the Jang Do-bin monument, which was sprayed with paints around August 2013," adding, "Under the agreement with the civilian organization Korea Academic and Cultural Foundation, the monument was relocated to the Far-east Federal University of Education in October 2015."

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Chosun Ilbo (http://english.chosun.com)

Will N.Korea's Nuke Program Spark Arms Race in Northeast Asia?

North Korea's rapidly advancing nuclear and missile programs could spark an arms race in Northeast Asia and have a nuclear domino effect on South Korea and Japan. Already there are mounting calls for nuclear armament from conservative South Korean politicians. The New York Times on Tuesday quoted Japan's 2017 defense white paper as stating, "It is possible that North Korea has already achieved the miniaturization of nuclear weapons and has acquired nuclear warheads." It commented, "That bleak assessment is likely to feed a growing debate in Japan about whether the country should acquire the means to launch preemptive military strikes."

Schoolgirls Donate to Children of Cheonan Victims

Two high school girls have donated the proceeds from selling badges honoring victims of the Navy corvette Cheonan, which sank in 2010, to help children of the victims. Choi Min and Lee Soo-yoon, both second-year high schoolers in Seoul, made the badges to mark the seventh anniversary of the sinking of the Cheonan this year. The Navy on Sunday said Min and Soo-yon Friday delivered W7.72 million for a foundation for the bereaved children of the victims (US$1=W1,146). The design of the badge is inspired by the Cheonan's hull number PCC-772. They had been distributing the badges for donations via a Facebook page.

N.Korea Threatens to Turn S.Korea into 'Sea of Fire'

North Korea on Tuesday threatened to turn South Korea into a "sea of fire" in protest against live-fire drills near Yeonpyeong Island. The official [North] Korean Central News Agency said South Korean "warmongers" carried out military provocations against Pyongyang, which is ready to respond "with its strong firepower at any time." South Korean Marines conducted live-fire exercises on Yeonpyeong Island in the West Sea, which suffered heavy North Korean artillery fire in 2010. Marines fired 200 rounds from K-9 self-propelled howitzers and AH-1S Cobra attack helicopters fired rockets and Vulcan machine guns.

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HanKyoReh Shinmun (http://english.hani.co.kr)

Final date for deployment of THAAD launchers expected within the year

Minister of National Defense Song Young-moo said on Aug. 14 that a date for deployment of four additional launchers for the US Forces Korea THAAD system “has not been set,” but added that the ministry would “hurry to ensure that the temporary deployment is completed within the year at least.” Song’s remarks before the National Assembly National Defense Committee came in response to a question from Liberty Korea Party lawmaker Chung Jin-suk on whether the THAAD deployment would be taking place by the end of 2017. “For now, a date has not been set, but we anticipate it will be sooner than that,” Song replied. At the same time, he reiterated that the final decision on the THAAD deployment would be “made once the regular environment impact assessment is complete.”

China to ban North Korean coal and iron imports from August 15^th

China announced that it is enforcing new UN Security Council Resolution 2371 sanctioning North Korea by implementing a full-scale ban on imports of related North Korean products as of Aug. 15.

The Chinese Ministry of Commerce posted an announcement to its webpage on the afternoon of Aug. 14 announcing a full-scale ban on imports of North Korean coal, iron, iron ore, lead, lead ore, and seafood as of Aug. 15. The list includes most of the items that China currently imports from North Korea. The announcement also said importation of goods arriving in China before Aug. 14 would be allowed, and that importation procedures of any kind would no longer be allowed as of midnight on Sept. 5. For Chinese businesses importing coal and other items through the port of Rajin in North Korea, the measures by China would allow importation only if the companies can prove to the UNSC’s North Korea sanctions committee that North Korea is not the place of origin.

North Korea makes gains as Trump takes criticism for reckless statements

Within just a few days, North Korea’s threat about launching an “enveloping strike” on Guam escalated from a harsh war of words between the North and the US to a key agenda item for the leaders of the US and China. As these developments receive the attention of media around the world, it is gradually becoming clear as to who the winners and losers are in this confrontation. First, North Korea jumped back into the spotlight with its provocation against the US by engineering a dispute with the world’s most powerful military. Pyongyang has also created the impression that the Korean Peninsula will be the site of a direct military showdown between the two sides, which it is using as an opportunity to justify its nuclear weapons and missile development programs. “North Korea’s threat about an enveloping strike on Guam has brought global attention to the Korean Peninsula and has enabled the North to reassert its presence, which basically means it has scored some strategic points,” said Korea National Strategy Institute Director Kim Chang-soo.

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JoongAng Ilbo (http://koreajoongangdaily.joins.com/)

Jong-un considering Guam hit

North Korea’s Strategic Force reported an operational plan for attacking the waters near Guam to leader Kim Jong-un Monday, who examined it for a “long time” and warned the United States to cease its “reckless actions” unless it wanted the North to follow through, according to the state-run Korean Central News Agency (KCNA) Tuesday. But any action by Kim depends on Washington’s behavior going forward. It was the latest twist in Pyongyang’s threatening of Guam, which began Aug. 9 when the country threatened to fire a Hwasong-12 intermediate-range ballistic missile near the American island in the Western Pacific, which hosts strategic U.S. military bases. The operational plan, said KCNA last week, was to be thoroughly examined, after which it will be reported to the Supreme Command and await Kim’s final order.

Moon vows peace in Liberation Day speech

President Moon Jae-in on Tuesday reiterated his promise to prevent a military conflict on the peninsula, saying his government would “do all it can” to keep it from happening. The commander in chief’s promise comes amid heightened tensions on the peninsula triggered by an exchange of threats between Pyongyang and Washington over the past week, each warning of dire consequences if the other launches a military attack. In full recognition of the high stakes involved, Moon said the North Korean nuclear and missile issue is “the biggest challenge facing” his administration. “War must never break out again on the Korean Peninsula. Only the Republic of Korea can make the decision for military action on the Korean Peninsula,” remarked Moon, using the formal name for South Korea.

Energy becomes political football

The government is expected to unveil its energy plan for the next 15 years in October, and interest is especially high given President Moon Jae-in’s drive to phase out Korea’s nuclear power plants. A commission overseen by the Ministry of Trade, Industry and Energy and comprising experts from the energy sector releases a report every two years with revised projections and recommendations for energy management in the following 15 years. The government usually implements the recommendations. In its most recent report released Friday, the commission said it expects economic growth to slow in the next 15 years and electricity consumption to fall with it. The commission lowered its recommended reserve rate, the percentage of power generators designated for backup during peak hours, from the current 22 percent to 20 percent.

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The KyungHyang Shinmun (http://english.khan.co.kr/)

China to Resolve Fierce Conflict Between NK and US: What Is the Solution to the August Crisis?

A phone conversation between U.S. President Donald Trump and Chinese President Xi Jinping on August 12 (local time) may become the turning point in the political situation on the Korean Peninsula, where tensions run extremely high. Reportedly, China was the one who first suggested the latest conversation, leading some experts to believe that China is stepping up to do its part in preventing a clash between North Korea and the U.S. Now eyes are on China, which played a big role in easing the "April crisis," to see if it will be able to overcome the "August crisis" as well. China first made a move after it was aware of the serious consequences that such extreme confrontation between North Korea and the U.S. could bring. President Trump's tough words, such as his "fire and fury" remarks followed by his Tweet about the American military being "locked and loaded," may have been the factor that moved Beijing.

North Korea Releases Korean-Canadian Pastor Hyeon Soo Lim

The Korean Central News Agency reported that North Korea's Central Court released Korean-Canadian pastor Hyeon Soo Lim (62, photo), who was sentenced to hard labor for life for engaging in hostile activities, on “humanitarian” grounds on August 9. The news agency relayed, "Hyeon Soo Lim, a Canadian citizen who was sentenced to life of hard labor for conducting hostile actions against our republic has been released on health issues after humanitarian consideration."

Lim had visited North Korea several times from 1997 and carried out humanitarian aid projects. In January 2015, he was arrested in North Korea and in December that same year, a North Korean court sentenced him to hard labor for life on charges of conspiring to overthrow the government. Lim will return home after 31 months.

"South Korea-Japan Comfort Women Agreement Is Not a Solution" Peaceful March in Japan

"The South Korea-Japan Comfort Women Agreement Is Not a Solution." "Apology and Compensation that the Victims Can Accept." On August 13, the eve of the International Memorial Day for the Comfort Women, Japanese civic groups and citizens held a seminar and organized a peaceful march in Tokyo, Japan. The comfort women's day was designated by the Asia Solidarity Assembly for Resolving the Comfort Women Issue in December 2012, to remember how Kim Hak-sun (1924~1997) gave a testimony of her sufferings on August 14, 1991 for the first time. Japanese civic groups (a council on wartime violence and a nationwide movement to resolve the comfort women issue in the Japanese military) held a “Comfort Women Memorial Day” at the office of Bunkyo Ward, Tokyo this day. This year marked the fifth year. More than 200 participants held signs with the words "Make August 14 a UN Designated Day" and marched almost 1 kilometer to Motomachi Park.

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

China's ZZQC Int'l Business Group to Move into Korean Market in Earnest

ZZQC International Business Group, China's major investment firm, will likely take part in Cityscape Korea 2017, the nation's largest international real estate trade show, signaling that it is moving into the Korean market in earnest. According to the secretariat office of Cityscape Korea on August 8, ZZQC will set up a booth in the Korea Economic Daily-sponsored exhibition and send five top executives to meet local developers and public agency officers. During the trade show period, the Chinese company will sign as many contracts as possible with domestic partners as long as conditions permit. Any company wishing to contact ZZQC before the exhibition may call the organizing office for appointment (02-360-4261).

Seoul's Average Home Price Moves down First Time in 17 Months

The average apartment price in Seoul has declined for the first time in 17 months due to the government's measure announced on August 2 to rein in runaway housing prices. According to the Korea Appraisal Board on August 10, the average selling price of apartments within Seoul fell 0.03 percent during the first week (August 1-7) of the month. This is an abrupt turnaround from a 0.33-percent rise in the previous week. This is the first time for the city's selling price growth rate to move to the negative realm in 75 weeks since February 29 last year (-0.01%). By individual district, the four districts south of the Han River showed the largest decline. Seocho District dropped 0.22 percent this week from an increase of 0.24 percent in the previous week. Songpa District, which was ranked No. 1 among all districts across the nation by rising 0.66 percent in the last week of July, moved down this week by 0.05 percent. The change rate of Gangdong District was also down 0.20 percent from an increase of 0.58 percent in the previous week.

Auto Industry Interest Group Warns Moving Operations Overseas If Kia Loses Lawsuit

Ahead of the lower court decision on the definition of ordinary wage involving Kia Motors as a defendant, the nation's car makers warned that they would move their plants overseas if Kia loses the lawsuit. The Korea Automobile Manufacturers Association whose members include Hyundai Motor, Kia Motors, GM Korea, Renault Samsung, and Ssangyong Motor, said in a statement, "If Kia Motors must pay an additional labor cost of 3 trillion won after the ordinary wage litigation, we have no choice but to consider moving our operations overseas. "The industry group also said that a crisis in Kia Motors, which accounts for 37 percent of the nation's automobile output, would spread quickly to more than 3,000 primary, secondary and tertiary suppliers. It also warned that the loss of Kia Motors in the suit will embolden unions of other car makers and auto parts suppliers to raise their own suits, which would result in a crisis of the whole auto industry. The association appealed to the judges that the court takes special care in making the decision given the industry faces an unprecedented situation.

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

US army chief in Seoul amid concern about N. Korea's new SLBM test

South Korean President Moon Jae-in is set to meet with the chairman of the US Joint Chiefs of Staff for talks on North Korea amid suggestions that the nuclear-armed country may conduct a fresh test of its submarine-launched ballistic missile. US General Joseph Dunford was to hold talks with South Korean Defense Minister Song Young-moo Monday ahead of his meeting with Moon as tensions run high in Northeast Asia following the North's two ICBM tests in July. The meeting follows a report by Joseph S. Bermudez Jr., a US missile expert, that commercial satellite imagery has revealed several developments at North Korea's Sinpo naval base used for previous SLBM tests.

Chinese firms steal show at S. Korea's largest smart fair

In the heart of South Korea's most globalized shopping district frequented by rich consumers, Chinese products are stealing the show at an annual trade fair for smart devices and accessories, a scene that was unthinkable last year. Some booths for Chinese firms in COEX, a leading conference and exhibition complex in Seoul's southern finance and culture hub, were crowded with visitors on August 11, the second day of the three-day exhibition, "KITAS 2017". Standing in long lines to participate in events for try-on or free gifts, the visitors were eager to get their hands on new products. Drones, the favorite of many and previous trade shows, were not so popular there because many fixed their eyes downwards, gazing into the touch screens of smart devices and reading spec sheets on the back of earphones and speakers. This year, personal audio systems gained attention. Dozens of visitors were seen carefully testing new headphones and speakers, sometimes consulting with booth operators for an advice or bargaining for a special discount.

Foreigners tipped to keep selling Korean stocks: Yonhap

Foreign investors are expected to keep selling South Korean stocks for the time being as rising tensions on the Korean Peninsula have further strengthened their appetite for profit-taking, analysts said. According to data from the Korea Exchange, offshore investors sold a net 2.7 trillion won (2.36 billion US dollars) between July 24, when they turned net sellers, and Thursday. During the 15 trading sessions, foreign investors net-bought local stocks for only three days. Foreigners' net selling has been driven by their desire to take profits from sharp gains mainly big-cap tech stocks, including top-cap Samsung Electronics Co. Offshore investors sold a net 1.5 trillion won worth of Samsung shares during the cited period, with their net selling of chip giant SK hynix Inc. reaching 552 billion won.

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

Kia Motors ranks worst in 6-month profitability among global peers

Revenues and profitability of South Korea’s largest automaker Hyundai Motor Co. and its sister Kia Motors Corp. have slipped to the worst performing level among global automakers due to lackluster sales in major markets including China and recall costs at home and in the U.S. According to sources on Sunday, Hyundai Motor posted an operating margin of 5.4 percent in the first six months of this year, ranking ninth and tied with Honda out of 12 peer automakers. It was down 1.2 percentage points from 6.6 percent a year earlier when the company ranked fourth. Kia Motors reported 3.0 percent in operating margin in the same period, down 2.2 percentage points from 5.2 percent of a year ago. The car maker fell to the lowest 12th from eighth last year.

S. Korea’s non-bank lending hits record high of 763 tn won as of June

Loans extended by South Korea’s non-bank lenders as of June hit a record high of 763.69 trillion won ($669.6 billion) on a sharp rise in borrowing for housing purchases and living expenses. According to the Bank of Korea on Monday, outstanding loans extended by non-bank lenders including mutual savings banks, credit unions and insurance companies, came to 763.69 trillion won as of the end of June, up 5.4 percent, or 39.1 trillion won, from the end of last year. It marks the highest non-bank lending since the central bank started compiling related data in 1993. The gain accelerated from a year ago when the figure added 34.89 trillion won in the January-June period of 2016. It is also the second-highest six-month increase following the 52.87 trillion won addition in the second half of last year.

Jin Air’s market value nears $1.2bn ahead of IPO

South Korea’s budget carrier Jin Air Co. is valued at close to 1.4 trillion won ($1.2 billion) on strong six-month earnings ahead of its scheduled IPO on Seoul’s main bourse Kospi at the end of November. According to sources on Monday, the market value of Jin Air, the unit of the country’s flag carrier Korean Air Lines Co. under Hanjin Group, is projected to exceed previous market estimates of 1 trillion won by a large margin on bullish six-month results driven by holiday demands that offset fewer flights to and from China amid a diplomatic row over THAAD.

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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.cnkf@people.cn

China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn

GwangmyeongDaily www.gmw.cn webmaster@gmw.cn