The Korean daily media headlines and humor

The Korean daily media headlines and humor

Tuesday, September 12, 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

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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/)

UNSC Unamimously Adopts New Sanctions Against N. Korea

Anchor: The UN Security Council has unanimously adopted new sanctions against North Korea, cutting oil supply to the North by 30 percent and banning imports of North Korean textiles. Alannah Hill has more. Report: The UN Security Council(UNSC) held a plenary session on Monday and unanimously adopted Resolution 2375 in response to North Korea's sixth nuclear test on September third. It is the first time the Security Council has targeted oil in its sanctions against Pyongyang. However, the new resolution was significantly weakened compared to the first U.S.-authored draft, which initially proposed blacklisting North Korean leader Kim Jong-un along with a full-fledged oil embargo against the North.

Nat'l Assembly Rejects Constitutional Court Chief Justice Nominee

A motion seeking the parliamentary approval of Constitutional Court Chief Justice nominee Kim Yi-su has been rejected. The National Assembly convened a plenary session on Monday and put to a secret vote the motion on Kim’s appointment amid the participation of 293 lawmakers. One-hundred-45 lawmakers voted in favor, 145 against and one abstained. Two votes were invalid. The motion requires the approval of more than half of the lawmakers present in order for it to pass the Assembly. It is the first time in Korea's history for a motion seeking the approval of a constitutional court chief justice nominee to be rejected in parliament.

UNSC Unanimously Adopts New Sanctions against N. Korea

The UN Security Council unanimously adopted new sanctions against North Korea on Monday, putting caps on exports of crude oil to the North and banning imports of North Korean textiles. Resolution 2375 was negotiated in response to Pyongyang's sixth nuclear test on September third. It is the first time that the Security Council has targeted oil in its sanctions against the North.

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

Seoul says UNSC resolution shows int'l resolve not to tolerate N.K. nukes

South Korea on Tuesday welcomed the U.N. Security Council's adoption of a set of fresh sanctions against North Korea, saying the move is sending a "grave" warning to Pyongyang that its continued provocations will only deepen its diplomatic and economic challenges. On Monday (U.S. time), the Security Council unanimously adopted Resolution 2375 against North Korea that includes a freeze on its imports of crude oil at current levels of 4 million barrels a year and a cap on imports of refined petroleum products at 2 million barrels annually.

U.N. Security Council unanimously adopts new sanctions against N. Korea

The U.N. Security Council unanimously adopted new sanctions against North Korea on Monday, imposing caps on its imports of oil but stopping short of measures that could cripple the regime. The move comes in the wake of North Korea's sixth and most powerful nuclear test on Sept. 3. The sanctions include a freeze on North Korean imports of crude oil at current levels of 4 million barrels a year and a cap on imports of refined petroleum products at 2 million barrels annually, or about half the current levels. It is the first time the Security Council has targeted oil in its sanctions against the regime.

U.S. House committee to hold hearing on N. Korea

The U.S. House of Representatives will hold a hearing this week to address the North Korea issue following its latest nuclear test, the relevant committee said Monday. Rep. Ed Royce (R-CA), chairman of the House Foreign Affairs Committee, will convene a hearing at 10 a.m. Tuesday to discuss "Sanctions, Diplomacy, and Information: Pressuring North Korea." The hearing will be attended by Susan Thornton, acting assistant secretary of state for East Asian and Pacific Affairs, and Marshall Billingslea, assistant secretary of the Treasury for terrorism and financial intelligence. "The nuclear test conducted by North Korea on September 3 was its most powerful to date, and its ICBM capabilities continue to improve," Royce said in a statement, referring to intercontinental ballistic missiles.

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

UN approves watered-down new sanctions against North Korea

The UN Security Council on Monday unanimously approved new sanctions on North Korea in a watered-down resolution that eliminated a ban on all oil imports and an international asset freeze on the government and leader Kim Jong Un that the Trump administration wanted. The resolution does ban North Korea from importing all natural gas liquids and condensates. But it caps Pyongyang's imports of crude oil at the level of the last 12 months, and it limits the import of refined petroleum products to 2 million barrels a year.

THAAD reprisals undermine China FTA

China has shown no hesitation in disregarding its obligations under the free trade agreement with South Korea to take retaliatory measures against the deployment of a US missile defense system here. This behavior is reinforcing the perception that Beijing cannot be expected to abide by international norms, such as the separation of politics from economic affairs, when it feels the need to advance or defend its interests. China is threatening to intensify retaliation against South Korea after additional launchers for the Terminal High Altitude Area Defense system were deployed last week in response to North Korea’s latest and most powerful nuclear test.

Assembly’s veto of top justice nominee deals blow to Moon

The National Assembly on Monday rejected President Moon Jae-in’s nominee for the Constitutional Court president, in spite of a prolonged void in the top judiciary’s leadership. In a floor vote that took place more than two months after Kim Yi-su’s confirmation hearing, 145 out of 293 lawmakers present voted for the nominee, while another 145 voted against him. One abstained. Two votes were listed as invalid. It was the first time a court chief designate was rejected by the legislature. Cheong Wa Dae strongly denounced the parliament.

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

'Nuclear trap' lies ahead for Seoul

Controversy is rising over whether South Korea should redeploy U.S. tactical nuclear weapons here as deterrence against North Korea's growing nuclear threat. While supporters say Seoul should have nuclear armament for defense balance as Pyongyang is virtually a nuclear state, many experts say having such weapons will bring considerable side effects such as a larger defense cost payment to the U.S. and a backlash from neighboring countries including China.
Conservative political parties are calling for the redeployment of tactical nuclear weapons, which the U.S. pulled out of South Korea in 1991 as a prelude to the two Koreas' joint declaration on the denuclearization of the Korean Peninsula.

Fears grow of radiation leak from N. Korea's nuke site

Concerns are growing of a possible leak of radioactive materials on North Korea's nuclear test site in Punggye-ri after its sixth nuclear test there on Sept. 3. Four of the six tests have taken place since Kim Jong-un came to power in December 2011. Moreover, the last three tests took place between January 2016 and Sept. 3, which was unusual considering that before then Pyongyang carried out the tests only once in three or four years. All tests under Kim's leadership took place in Punggye-ri, with the explosions growing to up to six times more powerful from January 2016 to Sept. 3, according to analysts. "And this means the risk of collapse within the Punggye-ri nuclear test site is growing," said Paik Hak-soon, a senior researcher at the Sejong Institute. "In other words, the possibility of a radiation leak there is growing."

N. Korea warns US of 'greatest pain' over new sanctions

North Korea warned Monday that the United States will suffer the "greatest pain" if it pushes ahead with new tougher U.N. sanctions over its sixth nuclear test. Pyongyang's threat comes as the U.S. asked the United Nations Security Council (UNSC) last week to vote on new sanctions Monday in response to the North's most powerful nuclear test. North Korea's foreign ministry said it will make the U.S. pay a "due price" if Washington goes ahead with the vote on a resolution on harsher sanctions. "The forthcoming measures to be taken by the DPRK will cause the U.S. the greatest pain and suffering it had ever gone through in its entire history," said the Korean Central News Agency, reporting a ministry statement in English.

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

Trump coould redeploy tactical nuclear weapons to S. Korea

The redeployment of tactical nuclear weapons on the Korean Peninsula to respond to North Korea’s nuclear test and missile launch has emerged as a key issue between the U.S. and South Korea. NBC news reported on last Friday (local time) that the Trump administration considers to deploy tactical nuclear weapons to South Korea at its request, citing senior White House and Pentagon officials. It also quoted officials as saying that the U.S. has already told China that South Korea and Japan may develop their own nuclear programs if China fails to strengthen pressure on the North.”

Kim Jong Un celebrates successful test of hydrogen bomb

North Korean state-owned newspaper Rodong Sinmun reported on Sunday that Kim Jong Un expressed his keen emotions at the “banquet celebrating the successful launching of the hydrogen bomb” held in Pyeongyang. While the newspaper did not mention the date, the party was likely to be held on Saturday. At the party participated by the North Korean leadership, Kim praised the efforts made by hydrogen bomb engineers. “Blast sound of the hydrogen bomb is the sound of the glorious victory for North Koreans who spared their sweat and blood during their desperate times," Kim said. “Thanks to solid and independent economic foundation provided by the great leaders (Kim Il Sung and Kim Jong Il), a great army of brilliant scientists, soldiers and people armed with revolutionary spirit, and the tradition of struggling for self-dependency, the self-reliance revolution will definitely be a victory.”

Korea-U.S.-Japan alliance offers 2.5 Tril. won for Toshiba chip business

The consortium consisted of Korean, American and Japanese companies has offered around 2.5 trillion Korean won to acquire Toshiba's semiconductor business.

It was known that the final acquirer will be decided at a meeting of the Board of Directors on Wednesday. The Korea-U.S.-Japan alliance has offered their final proposal that states that they are willing to offer Toshiba two trillion yen (or around 20.9 trillion won) of acquisition costs, along with an additional R&D cost of 400 billion yen (or around 4.1 trillion won), said the Japanese daily Sankei Shimbun. The total fund will be financed with shares and preferred stocks without voting rights, with 567.5 billion yen from Bain Capital and SK Hynix, 250 billion yen from Toshiba, 335 billion yen from Apple, 220 billion yen from an anonymous U.S. IT corporation, 27.5 billion yen from Japanese companies including Toshiba, and 600 billion yen from a bank.

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

More Young Koreans Look for Jobs Abroad
A growing number of young Koreans are looking for jobs abroad amid record youth unemployment at home. Last year some 4,811 young Koreans found jobs overseas, about three times as many as the 1,607 in 2013. But not all are white-collar office positions, and many are willing to work as welders, delivery staff and in other labor-intensive jobs. One 27-year-old university graduate from Seoul found at a recent job fair that the available jobs were in software development and general office work but also baking, carpentry, electrical and plumbing and welding.

UN Security Council Approves More Sanctions Against N.Korea
The UN Security Council on Tuesday unanimously approved a set of new but watered-down sanctions against North Korea in response to the country's nuclear test earlier this month. They include a ban on the rogue country's textile exports and a cap on how much crude oil it can import rather than the full ban the U.S. and South Korea had been seeking. The revised resolution has followed tense negotiations with China and Russia, who have a veto and opposed a full oil embargo and the blacklisting of North Korean leader Kim Jong-un, his sister Kim Yeo-jong and flag carrier Air Koryo.

N.Korea Preparing for Another Missile Test

North Korea appears to be preparing for another ballistic missile launch after marking its founding anniversary on Saturday, Radio Free Asia reported Friday.

Workers started repairing an underground missile launch pad in Samjiyon, Ryanggang Province. Signs show that the regime is replacing an old Paektusan-1 or Taepodong-1 missile with a new Hwasong-14 intercontinental ballistic missile, sources told RFA. ebar and cement bags camouflaged are being brought into the missile base secretly at dead of night every day. The underground missile bases in Samjiyon sit 2,000 m above sea level, and missiles launched from here can fly much farther away than from other known bases.

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

THAAD deployment spurs backlash among President Moon’s political base

North Korea’s repeated provocations are shaking the Moon Jae-in’s “peace equals public welfare” foreign policy and national security approach to the core. The administration’s surprise THAAD system deployment is stirring up a backlash even among the traditional supporter base of Moon’s Minjoo Party. ommenting on the completion of the “temporary” THAAD deployment, Moon said on the evening of Sept. 8 that he had “judged it the optimal measure the administration could take in the current situation” and asked for “the public’s understanding.”

North Korean crude oil supply becomes sticking point in new sanctions draft

The US government under President Donald Trump has asked the UN Security Council to hold a vote on Sept. 11 on a sanctions resolution against North Korea prepared in response to the North’s sixth nuclear test, as originally planned. The US appears to be demonstrating its commitment to quickly pushing through the resolution in order to prevent China and Russia from stalling.

The US delegation to the UN said in a press release on the evening of Sept. 8 that it had requested that the UN Security Council convene on Sept. 11 to vote on an additional sanctions resolution. During an emergency meeting of the UN Security Council on Sept. 4, US Ambassador to the UN Nikki Haley announced that the security resolution would be put to a vote on Sept. 11.

China and Russia cautious about imposing oil embargo on North Korea

With the US pushing to hold a vote at the UN Security Council on Sept. 11 over a new sanctions resolution responding to North Korea’s sixth nuclear test, China and Russia are adopting a cautious stance and strongly warning about rising tensions on the Korean Peninsula. “The roadmap offered by Russia and China is the most desirable solution. Militarizing a region on the pretext of one’s own security is an extremely dangerous action. Since the related countries have been threatening each other in a long-running vicious cycle of military exercises and missile and nuclear weapons tests, they can’t prevent the regional arms race from leading to a large-scale clash,” Russian Foreign Ministry spokeswoman Maria Zakharova was quoted as saying in a report by China’s state-run Xinhua News on Sept. 10.

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

New UN Security Council sanctions fall short of ban on oil sales

The UN Security Council on Monday unanimously adopted new sanctions against North Korea following its sixth nuclear test imposing a cap on exports of crude oils to the country, though it fell short of a complete ban. The 15-member council based in New York approved of a resolution which imposes a cap on crude oil exports to North Korea to the level of the past 12 months, some 4 million barrels, and limits exports of refined petroleum products to the country to 2 million barrels a year. It also bans condensates and natural gas liquids.

LKP campaign calls for recall of American nukes

South Korea’s main opposition party launched a petition Monday to call for the return of American tactical nuclear weapons. The Liberty Korea Party (LKP) kicked off an online campaign to collect 10 million signatures to demand the redeployment of nukes in South Korea after more than 25 years. LKP Chairman Hong Joon-pyo, who was defeated by President Moon Jae-in in the May election, was the first to sign the petition. “We are enraged by the failure and incompetence of the Moon administration’s national security policy,” the conservative opposition party said in the mission statement of its campaign. “For 50 million people to stop being used as nuclear hostages, redeployment of tactical nuclear weapons is the only way.”

Suffering Lotte Mart may pack up from China

Lotte Group is considering pulling out of the discount supermarket business in China due to Beijing’s retaliation against Korean companies since Seoul decided to deploy a U.S. antimissile system. “We are considering various options including exiting the market for Lotte Mart’s Chinese operations,” said a spokesperson for Lotte Group’s Seoul headquarters on Monday. “We haven’t decided on details of what we are going to do and how we are going to do it,” the spokesperson added. Out of 112 Lotte Mart branches in China, operations at 74 have been suspended because of supposed safety regulation violations. Another 13 branches have been voluntarily closed because customers were boycotting them with government prodding.

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

People at Risk of Suicide Lived in Poor Housing Conditions
South Korea's suicide rate is among the highest in the world. Since 2003, more than 10,000 people took their own lives every year, granting South Korea with the disgraceful title of the number one country in suicides among the member states of the Organization for Economic Cooperation and Development (OECD). Last year, 28.7 people per every 100,000 of the population committed suicide, widening the gap with second place Japan (18.7). It now seems possible to identify areas where people at risk of suicide mostly reside using numbers, such as the population, geographical information and past suicide statistics. If we concentrate on areas at high risk based on this data, we may be able to prevent a considerable number of suicides.

Bareun Party at Risk of a Wreck Attempts to Pull Through with Yoo Seong-min
The Bareun Party leadership has agreed to appoint lawmaker Yoo Seong-min (59, photo) to head the party's emergency committee on September 10. They have decided to charge through the crisis that the party faces, amidst a vacant leadership due to the resignation of party leader Lee Hye-hoon, with Yoo at the lead. This day, Yoo expressed his willingness to accept the position and said, "I will cross this 'valley of death' with my colleagues." If Yoo, who has argued for the independent existence of the party, takes over as chairman of the emergency committee, talks of a unification with the Liberty Korea Party will die down for the time being, and the party is expected to focus on coming together.

THAAD, Beyond the River of No Return

The deployment of the Terminal High Altitude Area Defense (THAAD) system, a hot potato in South Korea for the past three years and three months, has now become a huge "spike," difficult to dig out, now that the remaining four launchers have been placed and introduced to operations in the THAAD base in Seongju, Gyeongsangbuk-do in the early hours of September 7. The international conflicts and confusion as well as the security, political and economic burden due to the deployment of the missile system are now on South Korea's shoulders.
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The Korea Economic Daily (http://english.hankyung.com/)

POSCO Daewoo Opens 5-star Hotel in Myanmar's Yangon

POSCO Daewoo has opened Lotte Hotel Yangon on September 8 in Myanmar's capital Yangon. The five-star hotel, located near Inya Lake in the central business district of the city, consists of a 15-story hotel building (343 rooms) and a 29-story long-term serviced apartment building (315 rooms). POSCO Daewoo is responsible for the overall management while Lotte Hotels and Resorts taking charge of daily management.On the opening day, Myanmar Minister of Hotels and Tourism Ohn Maung, Chief Minister of Yangon Region Phyo Min Thein, POSCO Daewoo president Kim Young-sang, POSCO Engineering & Construction Han Chan-geon, and Lotte Group vice chairman Song Yong-deok were in attendance.

Hanwha Chemical an Unexpected Beneficiary of Coal Price Hike

As international coal prices are on the rise, Hanwha Chemical's prospect is getting brighter. That's because the Korean company uses naphtha to produce polyvinyl chloride (PVC) while its rivals in China are largely based on coal, which will make it more price competitive vis-a-vis the Chinese chemical producers. ccording to Korea Resources Corp. and chemical industry sources on September 10, the freight-on-board (FOB) price of bituminous coal out of the Chinese port of Qinhuangdao was US$95.06 as of September 1 per ton from $81.58 on June 2, up 16 percent in three months. ccordingly, the supply of PVC has strained with its price rising. The average PVC price in Asia has increased about 10 percent to $955 as of September 7 from $868 in June.

Mixed Fortunes of LG Group and Hyundai Group in Terms of Market Value

The market value of LG Group companies has moved up to the third place after overtaking that of Hyundai Motor Group following Samsung and SK. Hyundai Motor lost out to LG after giving away the second place to SK Group in June this year. ccording to the Korea Exchange on September 6, the aggregate market capitalization (including that of preferred stocks) of LG Group's 16 publicly listed affiliates was 96,883 billion won as of the end of September 5. On the same day, the value of 16 publicly listed Hyundai companies was 95,058 billion won.

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

President Moon and apposite centrism

As Ahn Cheol-soo, head of the minor opposition People's Party, voiced 'Radical Centrism', even his party members dismissed it as 'bull shit' in English. hn insisted, 'It is not to be carried away by right or left ideologies, but to stick to things that are helpful to the people, and to act with the utmost beliefs in moderation". It's a strange word, but in English, there is a term "radical centrism" and The Economist described itself as 'radical center'. owever, in any notions, their orientation or genealogy is not important and it should be evaluated as to what fruits and outputs they bring in reality. What's the meaning of radical centrism as we are faced with Kim Jong-un's nuclear blackmail, unimaginable pressures from the Trump administration, and the resurging arrogance of China that has pressed down on our chest for 2,000 years?

Good and Mild Leadership

Trump, Xi, Putin and Kim Jong-un have something in common. Everyone is crafty and has a thick skin. What about President Moon Jae-in? At first glance, he seems to be straightforward and honest. President Moon looks mild and innocent like a sheep. It is far from the image of a muscular wolf or a cunning fox. A columnist commented that President Moon has a sense of honor and keeps his righteousness and selflessness. It is a wonderful heart. But In the age of global upheaval and brutality, when you fight against the tough 'gangsters', it is indeed a fallacy. The column leads us to feel uneasy as if seeing a schoolboy surrounded by neighborhood gangsters.

S. Korea manufacturing industry in trouble due to internal and external challenges

South Korea's manufacturing industry, buffeted by negative external factors including tightened US trade protectionism and China's economic retaliation, seems to be losing competitiveness due to internal pressures such as rising wages and corporate tax. outh Korea, which has kept the top position in the global LCD market for nearly 10 years in terms of production, appears to be overtaken by China. Witzview, a market research firm, predicts that this year, China will produce 35.7 percent of the world's large LCD panels to stand first for the first time in history, followed by Taiwan's 29.8 percent and South Korea's 28.8 percent. In particular, China's large LCD panel production capacity is projected to reach 48.3 percent in 2020, nearly half of the global total.

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

Coinone opens physical cryptocurrency exchange

Coinone, one of South Korea’s digital currency trading platform operators, said on Tuesday it has opened a brick-and-mortar cryptocurrency exchange called Coinone Blocks to demonstrate its financial services based on blockchain technology that allows cryptocurrency to transfer value without resorting to traditional intermediaries such as banks. Coinone Blocks offers visitors an opportunity to experience Coinone`s online service lineup at the center located on the third floor of S-Trenue Building in Yeouido, the major financial district in Seoul. A large screen at the center gives visitors a glance at market information of six major cryptocurrencies including Bitcoin and Ethereum that are traded via Coinone.

More budget carriers rush to overpopulate the market

Six new low-cost carriers (LCCs) are bidding to enter the South Korean market, cramming into an already overpopulated segment. According to the airline industry on Sunday, the Ministry of Land, Infrastructure and Transport will decide whether to issue an international operation license to Aero K and Fly Yangyang this month. Four others including Air Daegu and Prime Air are also working to obtain necessary aircrafts and licenses to join them in the LCC race, with an aim to begin flights by the end of next year.

Internet-based IT companies express discontent over FTC policy

South Korea’s Internet-based information technology companies including Naver Corp. are at odds with the Fair Trade Commission after the antitrust agency classified the top online portal operator as a large conglomerate earlier this month that invites the entity to be under tougher business regulations. Companies showed even more disappointment when FTC Chairman Kim Sang-jo made a remark in a recent interview with a local media that denounces the country’s Internet-based IT companies, in particular, Naver. “From a traditional view, Steve Jobs is an autocratic style chief executive, but he was future-oriented and that is why people disliked him yet had respect for him,” Kim said in the interview. “A company as big as Naver (also) needs a vision that sees the future but until now, former Naver Chairman Lee Hae-jin was not able to provide such (vision) to the society like Jobs,” he added.

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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