The Korean daily media headlines and humor

The Korean daily media headlines and humor

Monday, August 28, 2017

Your Excellency:

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The 123-story Lotte World Tower in Gangnam where the ambassadors

and madams are invited to visit on Sunday Sept. 24 this year.

To make reservation Chairman Lee of The Korea Post at 010-5201-1740.

Excellencies, Madams, don’t pass up this tour to see

Seoul from the 123-story Lotte Observation Tower

on Sunday Sept. 24 this year

Ambassadors and spouses are invited to attend the spectacular final-day ceremony of the 2017 Hanseong

Baekje Culture Festival in Seoul on Sunday Sept. 24 this year by Mayor Madam Park Choon-hee of the Songpa-gu

Ward of Seoul. Thrown into the tour is an even more interesting event, a tour of the Sky Observation Room

on the 118th floor of the 123-story Lotte World Tower, a 555-meter high skyscraper which was opened to the public on April 3, 2017. Currently, the Lotte World Tower is the tallest building among all the OECD countries as well as in Korea and the fifth tallest in the entire world.

To join the Tour, please call Chairman Lee of The Korea Post at 010-5201-1740 or Reporter Kim at 010-9205-0200 or Ms. Sua Kim at 010-7584-5873.

The Seoul Sky Observation Room has the highest glass-floor observation deck.

The ambassadors and spouses are personally invited by Mayor Madam Park Choon-hee of the Songpa Ward of the Seoul City, who takes strong interest in the promotion of international relations, in particular with the ambassadors and their spouses in Seoul.

As a festival that reproduces the history and culture of the Hanseong period (18B.C.-A.D. 475) of Baekje Kingdom, which was founded 2,000 years ago, the Hanseong Baekje Cultural Festival has been held annually since 1994 in Songpa-gu, the capital city of early Baekje Kingdom. The global festival has been named the representative ‘culture and tourism festival’ for the fourth consecutive year by the Ministry of Culture, Sports and Tourism.

A King of the Baekje Dynasty wearing a crown walks leading a parade at the 2016 Hanseong Baekje Cultural Festival.

Traditional parade of the 2016 Hanseong Baekje Culture Festival.

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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

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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/)

US Pacific Command Revises Assessment of N. Korean Missile Launches

The United States Pacific Command has revised its assessment of the latest North Korean missile launches, saying that two of three projectiles fired by the North on Saturday morning did not fail in flight.

The Pacific Command said earlier that two of the missiles had “failed in flight,” but later said that the two missiles had not failed and flew about 250 kilometers before falling into the East Sea. The command maintained its assessment on the third missile, saying that it appears to have blown up immediately after launch. The U.S. media reported that the command appears to have revised its assessment after a joint analysis with the South Korean military.

US Open to Dialogue Despite N. Korea's Provocation

U.S. Secretary of State Rex Tillerson says the U.S. will continue to seek a peaceful resolution to the North Korean issue even after the North’s latest missile provocation. Appearing on “Fox News Sunday,” Tillerson said that that the firing of ballistic missile is a violation of U.N. Security Council resolutions and the U.S. considers it as a provocative act against its allies and itself. However, he added that the U.S. will continue its peaceful pressure campaign, working with its allies and China to see if they can bring the regime in Pyongyang to the negotiating table.

Ahn Cheol-soo Elected New Chairman of People's Party

The minor opposition People’s Party has elected its former presidential candidate Ahn Cheol-soo as its new leader in a national convention on Sunday. In a leadership election at the National Assembly, Ahn won 51-point-09 percent of the vote, defeating three other contenders Chun Jung-bae and Chung Dong-young, and Lee Un-ju. The entrepreneur-turned-politician will fill the top post that has been vacant for about 110 days since former leader Park Jie-won resigned in May over Ahn’s loss in the presidential election.

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

S. Korea, U.S. set for high-level talks amid N.K. tensions

South Korea and the United States are set to hold back-to-back meetings in Washington this week to address the growing challenge posed by North Korea's nuclear and ballistic missile programs.

South Korean Vice Foreign Minister Lim Sung-nam and U.S. Deputy Secretary of State John Sullivan are scheduled to meet Monday at a time of heightened concern over North Korea's ballistic missile capability. The meeting will precede talks between South Korean Defense Minister Song Young-moo and U.S. Defense Secretary Jim Mattis at the Pentagon on Wednesday. Pyongyang tested two intercontinental ballistic missiles in July, leading many officials and analysts to believe it will soon be able to deliver a nuclear weapon to the U.S. mainland.

S. Korean rookie rallies for 2nd career LPGA win

South Korean rookie sensation Park Sung-hyun has rallied for her second career LPGA victory in Canada. Park, world No. 4, overcame a four-shot deficit to win the Canadian Pacific Women's Open in Ottawa on Sunday (local time). She fired a bogey-free final round of seven-under 64 at the par-71 Ottawa Hunt and Golf Club to finish at 13-under 271, beating fellow South Korean Lee Mi-rim by two strokes. Park took home a winner's check of US$337,500 to overtake South Korean Ryu So-yeon for first place on this year's money list at a little over $1.87 million.

Foreign ownership of top 10 group shares sinks 4.6 pct over past month

Foreign ownership of listed firms belonging to South Korea's top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday. Offshore investors held a combined 349.2 trillion won (US$310 billion) worth of shares in 95 listed firms of the leading business groups as of Thursday, down 16.7 trillion won, or 4.56 percent, from a month earlier, according to the data from market tracker FnGuide. The South Korean stock market has been going through a correction period on foreigners' massive profit-taking since July 24, when the benchmark Korea Composite Stock Price Index (KOSPI) hit a record high of 2,451.53.

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

Fierce dispute expected at Samsung heir’s appeal

A fierce legal dispute is expected to extend this week following the Seoul Central District Court’s decision to sentence Samsung Electronics’ de facto leader Lee Jae-yong to a five-year prison term.

During the weekend following the court ruling Friday that found the Samsung heir guilty of five major charges related to the corruption scandal of former President Park Geun-hye, Lee‘s legal team and the special counsel team respectively clenched their fists in preparation for the forthcoming appellate trial.

NK’s short-range missile launch sparks flurry of speculation

North Korea fired three short-range rockets into the East Sea on Saturday in an apparent display of force against an ongoing South Korea-US military drill which Pyongyang calls a rehearsal of war.

Cheong Wa Dae and South Korea’s military said the North launched “several” projectiles from an advanced 300-milimeter multiple launch rocket system and they flew up to 250 kilometers in a preliminary assessment.

Wear floral prints and support sex slave victims

Conscious consumers are driving trends behind the popularity of products linked to various social issues, such as floral-print phone cases and stationery items inspired by the drawings of former sex slaves during the World War II. “I first bought Marymond’s phone case because it was pretty. But by purchasing the product that is designed based on the former sex slaves’ paintings, I felt good to support victims through my consumption,” said 26-year-old Lee Chae-yoon. Marymond started six years ago as a way to help restore the dignity of the victims, euphemistically called comfort women, who were forced to work at frontline brothels for the Japanese army.

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

'Moon Jae-in watch,' a rare item craved by many

Demand is rising for a watch with President Moon Jae-in's signature that is given as a souvenir to visitors of Cheong Wa Dae, amid the President's high popularity, which is above 70 percent. While many people want one, Cheong Wa Dae is managing the supply tightly, increasing its rarity. The so-called "Moon Jae-in watch" has the design of a set of Asian phoenixes on the upper side of the dial, which is the symbol of the Korean presidency. On the bottom side is Moon's signature, "President Moon Jae-in." On the back of the dial is the phrase, "Putting people first," which is Moon's political philosophy. The sheepskin-made strap is beige in color, unlike those of former presidents' watches that were black. It comes in two sizes, a larger one for men and a smaller one for women.

Man fined for false marriage rumor about late President's widow and Dr. Dre

A court has fined a man, 73, who spread a false rumor online that Lee Hee-ho, widow of late former South Korean President Kim Dae-jung, planned to marry American hip-hop musician Andre Romelle Young, better known as Dr. Dre. Seoul Western District Court fined the man 5 million won ($4,400) on Friday on charges of cyber defamation and defamation against the deceased. In January, the unidentified man said on his blog that "the former first lady Lee is to wed Dr. Dre to launder the late Kim's slush funds," referring to the hip-hop legend who rose to stardom in the 1980s with N.W.A. and has released many hits such as "Still Dr. Dre" and "California Love." "The defendant violated the honor of the deceased and the bereaved,"Judge Lee Eun-hee said in the ruling.

Mayweather stops McGregor in 10th round

American boxer Floyd Mayweather beat Ireland's Conor McGregor by a technical knockout in the 10th round of their highly anticipated fight in Las Vegas on Saturday local time to keep his perfect record intact.

Mayweather, the former welterweight world boxing world champion who came out of retirement at 40, added one more win to his 49-0 record. He surpassed heavyweight great Rocky Marciano's 49-0 record for most wins without a loss or draw. Mayweather, long regarded as a great defensive fighter, left few openings and used the first three rounds to scout his opponent. He dominated from the fourth round onwards.

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

Galaxy Note 8 pre-order begins in U.S. and Europe

Pre-orders for Samsung’s Galaxy Note 8 began on Thursday (local time) in North America and some 20 European countries. The pre-order of the Galaxy Note 8 will be available in Korea from September 7.

The price of the Galaxy Note 8 that comes paired with 64GB built-in storage may vary depending on mobile carriers in the U.S., but it is mostly priced around 1 million won. AT&T and T-Mobile will sell the Galaxy Note 8 for 949.99 dollars (1.07 million won) and 959.99 dollars (1.08 million won). Customers who bought a Galaxy Note 8 any time between August 24 and September 24 will have a free Samsung Gear 360 camera (priced at 230 dollars) and other free gifts.

Rebecca Solnit hoists 'endless war against misogyny'

"The power of feminism can be found when the masculine side frowns. The similar misogynistic hate crime, which recently happened in Korea, can also be found in the U.S. as well. Therefore, we must not give up and stage an endless fight by delving into the patterns of root cause, and not consider these crimes as individual cases." As a globally renowned American writer who wrote the feminist essay "Men Explain Things to Me" in 2014, the 56-year-old writer Rebecca Solnit visited Korea. Her visit came at a time when her three books - "The Mother of All Questions," "Hope in the Dark" (Changbi) and "Wanderlust: A History of Walking" (Banbi) - were all recently translated and published in Korea.

Japan’s convenience store chains to introduce self-checkout system

The U.S. may exceed in technology, but Japan is ahead for its introduction when it comes to self-checkout. Amazon Go with no checkout counters amazed both IT and distribution industry at the end of last year. It was the combination of latest technologies including AI and image sensor. Although Amazon did not reveal how the system works, the IT industry presented many guesses based on Amazon’s patent list. When a customer enters the store after starting the application, cameras placed in every corner follow him or her. Also, sound waves and voice recognition and other technologies are applied. When a customer picks an item, sensors nearby read it and the AI manages the artificial cart of the customer.

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

YOLO Mentality Gives Way to Frugality as Slump Drags on

A mentality of seizing the day and making the most of limited means that had been establishing itself among young Koreans as the economy went into a slump is gradually giving way to a more frugal attitude again. Where "YOLO" -- you only live once -- was the motto of younger Koreans who rejected their parents' thrift for travel and indulgences, now a new tribe share information on the Internet on how to save living costs by cutting down on beer consumption and tips to survive on just W5,000 a day (US$1=W1,129). TV shows and podcasts that teach money-management skills are growing in popularity. One online show reviews the monthly expenditure of guests and advises them how to cut costs. Subscribers have increased to over 20,000 in just two months. Statistics confirm that young Koreans are cutting down on spending. According to Hyundai Research Institute, the average monthly consumption of households in their 20s fell from W1.7 million in 2007 to W1.5 million last year.

No Prospect Yet of Moon Visiting China

Any visit by President Moon Jae-in to China this year seems increasingly unlikely amid an ongoing spat over the deployment of a Terminal High-Altitude Area Defense battery from the U.S. here. Since his inauguration in May, Moon has bolstered Korea's ties with the U.S., Japan and Russia, but relations with China remain chilly as the two countries mark 25 years of diplomatic ties. Moon met with U.S. President Donald Trump in Washington in June and visits Russia next month for a summit with Russian President Vladimir Putin. He sat down with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 Summit in Germany last month.

Duty-Free Sales Improve Thanks to Chinese Traders

Duty-free sales in Korea have increased despite a Chinese tourism boycott, not least because individual Chinese traders kept traveling back and forth to snap up low-priced goods.

According to the Korea Duty-Free Shops Association on Thursday, the number of foreign visitors to domestic duty-free shops stood at 1.06 million in July, down a staggering 45 percent from a year earlier.

The number of Chinese tourists to Korea declined 69 percent in July on-year. But purchases by foreigners amounted to US$693.71 million, up nine percent on-year.

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

Moon administration looks set for deployment of additional four THAAD launchers

It appears that US Forces Korea (USFK) will deploy an additional four missile launchers to its Terminal High Altitude Area Defense (THAAD) system at a base in Seongju County, North Gyeongsang Province, as early as next week. "The four launchers currently held by US troops have been prepared so that they can be effectively deployed whenever necessary," a senior Korean government official stated on Aug. 25. "We know the plan is to temporarily deploy the additional launchers as early as next week, as soon as the small-scale assessment on the Seongju base's environmental impact is completed."

Unification Minister raises possibility of reopening Kaesong Industrial Complex

“If sanctions lead to a change in the North Korean nuclear program, our first priority will be tackling the issue of reopening the Kaesong Industrial Complex,” South Korean Unification Minister Cho Myoung-gyon said on Aug. 25. While Cho said this was contingent on progress on the North Korean nuclear and missile issues, the statement reconfirms the new administration’s strong commitment to reopening the Kaesong Complex. Cho made the remarks during a forum about the new administration’s plans for North Korean policy that was held at the University of North Korean Studies in the Samcheong neighborhood of Seoul by the Unification Future Forum under Chairman Ryoo Kihl-jae on the morning of Aug. 25. “I find myself thinking that there may be no better way to change North Korea than the Kaesong Industrial Complex,” the minister said.

Moon and Abe spar over the issue of forced labor victims during phone call

President Moon Jae-in and Japanese Prime Minister Shinzo Abe sparred over the subject of the victims of forced labor during the period of Japanese occupation during a phone call on Aug. 25. In regard to a recent comment made by President Moon that “the forced labor issue has not been resolved,” Abe responded by stating that “there is some concern among Japanese citizens.” Moon asserted that personal claims were a separate issue. A source close to the Blue House said that Abe raised the issue after he and Moon had discussed cooperation and countermeasures in response to nuclear missile-related provocations from North Korea over the phone, stating that there was just one more thing he needed to speak to Moon about.

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

North’s missiles are protest of joint drills

North Korea fired three short-range projectiles off its eastern coast Saturday morning in what Seoul considers a protest of the ongoing military exercises between South Korea and the United States. The projectiles were fired from Kittaeryong in North Korea’s Kangwon Province starting at around 6:49 a.m. The first and third flew for about 250 kilometers (155 miles) before landing in the East Sea, while the second exploded almost immediately after liftoff, according to South Korea’s Joint Chiefs of Staff.

Ahn Cheol-soo hails his comeback as People’s Party head

Ahn Cheol-soo was elected chairman of the People’s Party at a convention Sunday, making a political comeback of sorts 110 days after his crushing defeat in the presidential election. Ahn, a co-founder of the party with 40 seats in the National Assembly, will try to lift the party’s single digit approval rating ahead of a local election less than a year away. Ahn clinched the victory by winning 51.09 percent of the votes, or 29,095, far ahead of challengers Rep. Chung Dong-young, who received 28.36 percent of votes and Rep. Chun Jung-bae with 16.6 percent. Rep. Lee Un-ju, the only female candidate, came in last with a meager 3.95 percent.

Recruiting at public sector companies to be changed

The recruiting process for government jobs will see big changes in the second half of the year, part of the Moon Jae-in administration’s pledge to offer more chances to work in the public sector. But some job seekers are going to have to change their strategies. According to the Ministry of Strategy and Finance on Sunday, tests for job applicants at state-run companies will be scheduled by the government, not the companies. Public companies in the same industry sector will hold tests on the same day, reducing the number of applicants who apply to several companies in the same field.

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

Samsung Provides a 480,000-Won Discount When Galaxy Note 7 Buyers in U.S. Purchase Galaxy Note 8. The Truth?

On August 24, it was confirmed that the soon to be released Galaxy Note 8 would be sold at a discount to users of Galaxy Note 7 in the U.S. In South Korea, Samsung Electronics is expected to carry out the Galaxy Upgrade Program, which the company had launched last October. Since August 23, the foreign press including Fortune reported that Samsung had announced that owners of Galaxy Note 7 could receive up to $425 in discounts when purchasing Galaxy Note 8 at the unpacking of Galaxy Note 8.

"Highly Regard Our Relationship" South Korea and China Exchange Customary Messages

On August 24, the 25th anniversary of the establishment of diplomatic ties between South Korea and China, President Moon Jae-in and Chinese President Xi Jinping exchanged congratulatory messages. The two state leaders said that they highly regarded the bilateral relationship. However, a look at the message and the way it was announced confirmed that the relationship between the two countries is at its ever low since the two states first established diplomatic ties.

Who First Ordered Soldiers to Open Fire and Who Was Behind the Helicopter Shooting? Will the Truth Be Revealed After 37 Years

On August 23, President Moon Jae-in ordered a special investigation into the machine gun shots fired from a helicopter at Jeonil Building in Gwangju and into alleged orders for fighter jets to stand by at the time of the May 18 Democratic Uprising. Although a special bill on an investigation of the May 18 uprising is pending at the National Assembly, the president's orders show his intention to get to the bottom of the May 18 uprising at the government level instead of waiting for the lawmakers to pass the bill. The ruling Minjoo Party of Korea also announced this day that the party would establish a special committee on this issue. Thus, the ruling party and the government are expected to make all possible efforts to uncover the truth of the May incident.

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

Hyundai Motor Set to Develop Pickup Truck Model Aiming at U.S. Market

Hyundai Motor is currently in the works to develop a pickup truck model for the U.S. market. Michael O'Brien, vice president in charge of product planning for Hyundai Motor America, said on August 22 in a press conference, "The top management approved a project to develop a pickup truck model." Pickup trucks are highly popular in the United States. There is only one pickup truck model available in Korea, which is Ssangyong Motor's Korando Sports. Hyundai Motor unveiled a pickup truck concept model "Santa Cruz" back in January 2015 in the Detroit Motor Show. The model sports a 2.0-liter turbo engine and 190 horsepower. The model currently under development is also based on the Santa Cruz frame.

Household Debt Balance Approaches 1,400 Tril. Won...Bank of Korea

The household debt balance has rapidly increased to approach 1,400 trillion won (US$1.24 trillion) as of the end of June this year. It is estimated the balance may have surpassed the 1,400-trillion-won level by mid-August. As the amount of household debt reaches 90 percent of the gross domestic products (1,637 trillion won at the end of last year), economists began warning the high debt level may pose an obstacle to further growth. According to the Bank of Korea on August 23, the balance of household credit as of the end of the second quarter was 1,388.3 trillion won, up by 29.2 trillion won (2.1%) from the end of the first quarter (1,359.1 trillion won). This is 10.4 percent higher than the same period last year (130.7 trillion won).

LG Electronics to Invest $25 Mil. to Build New EV Parts Plant in Michigan

LG Electronics said on August 23 that it would establish an electric car parts plant in Hazel Park, outside Detroit, Michigan, by investing about US$25 million. The proposed plant will be built in a 215,000-square-meter site within the first quarter of 2018. The company will produce battery packs for electric cars, with plans to expand the line-ups to other electric car components in the future. LG explained that the locational decision was based on the proximity to the Vehicle Components North America Business Center in Troy, Michigan, as well as the incentive package offered by the state government of Michigan.

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

S. Korea business community in shock over harsh court ruling

South Korea's business community was in shock over a five-year prison sentence for Samsung's de facto leader, but online communities were flooded with angry comments and dissatisfaction. The high-profile trial of Samsung Electronics Vice Chairman Jay Y. Lee has been a matter of great public interest as it was closely related a corruption scandal that sparked widespread public fury and street demonstrations for months, leading to the ouster of ex-president Park Geun-hye.

ASEAN coming back as S. Korea's real alternative market

For Southeast Asian nations, there is a similar dark period like the 'lost 20 years' which usually refers to Japan. For about 10 years from the mid-1980s to the mid-1990s, Southeast Asia had a golden era, absorbing global corporations, funds, and talent. Most ASEAN members have been gradually out of the limelight from 1997 when they were thrown into the IMF economic crisis. Since then, China has become a 'global factory', taking the baton as a global growth engine. Until 1997, most ASEAN members were our key markets but they had disappeared from our view until recently. Companies, investors and people all flocked to China, pushing the Southeast Asian market into the backstroke.

Busan city to draw 3D map of underground space to prevent accident

An apartment complex in the southern city of Busan experienced a total blackout when a forklift mangled an underground power line at a subway construction site last month. Thousands were left in the mid summer's heat wave without electricity. To prevent such accidents, Busan has launched a project to draw a vast integrated 3D map database of underground space. "Through this project, the 3D map of Busan's underground space will be developed and when it's done, we will be able to prevent safety accidents very effectively," the Busan city government said in a statement on Tuesday.

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

Court rules 5 years in prison for Samsung heir Lee; guilty of bribery, avoids maximum 12 years

Jay Y. Lee, the heir to South Korea’s richest family and biggest corporate empire Samsung Group, received a five-year jail sentence in the first corruption trial in relation to the scandal that removed former President Park Geun-hye, found guilty of all five charges including bribery for which the prosecution had demanded a 12-year prison term. The same court in Seoul on Friday sentenced four years for Choi Gee-sung, former vice chairman and head of Samsung Group’s future strategy office, and Chang Choong-ki, former president and deputy head, and three years with five-year probation for Park Sang-jin, former president, and two years and six months with four-year probation for Hwang Sung-soo, former executive vice president.

Samsung Group in emergency management mode after its heir found guilty

Samsung Group finds itself in an unprecedentedly confounding situation where the top title of the family-run dynasty would stay empty for a lengthy period after the Seoul Central District Court on Friday sentenced its heir and Samsung Electronics Co. Vice Chairman Jay Y. Lee five years in prison for bribery and other charges. Lee had been spearheading the country’s biggest conglomerate with 350 trillion won ($310.1 billion) in assets as its father and chairman Lee Kun-hee has fallen into a coma in 2014 after a heart attack.

Korea’s Lock & Lock sold to Hong Kong PEF at $561.6 mn

Two individual major shareholders of Lock & Lock Co., South Korea’s leading food container maker, sold their entire 63.56 percent stake in the firm to Hong Kong-based private equity firm Affinity Equity Partners at 633.2 billion won ($561.6 million). Lock & Lock in a regulatory filing on Friday announced that its major shareholders Kim Joon-il and Kim Chang-ho signed an agreement with Affinity Equity Partners to sell their entire stake in the food container maker.

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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.cnkf@people.cn

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

GwangmyeongDaily www.gmw.cn webmaster@gmw.cn