The Korean daily media headlines and humor
Thursday, October 26, 2017
Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:
Very Respectfully Yours
Korea Post Media
Countries we are yet to confirm participation in the GLAM HEALTH TOUR by an Ambassador or other appropriate representative on Saturday 28 October:
In alphabetical order:
Afghanistan, Algeria, Angola, Argentina, Austria, Bangladesh, Belarus, Bolivia, Brazil, Brunei Darussalam, Chile, Colombia, Congo, Costa Rica, Cote d'Ivoire, Czech Republic, Dominican Republic, El Salvador, Ethiopia, Fiji, Gabon, Georgia, Ghana, Greece, Guatemala, Honduras, Hungary, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Mongolia, Morocco, Myanmar, Nepal, Nicaragua, Nigeria, Papua New Guinea, Paraguay, Peru, Qatar, Russia, Rwanda, Senegal, Serbia, Sierra Leone, Slovak Republic, Sri Lanka, Sudan, Tajikistan, Thailand, Timor Leste, Uruguay, Vietnam, Zambia, Taiwan.
Please kindly oblige The Korea Post with a kind reply.
Timing is running out. It is the DAY AFTER TOMORROW for the ‘irresistible’ Glami Health Kingdom tour on
Saturday 28 October!
Ambassadors, Senior Diplomats and All Their Family Members are cordially invited!
A can of Coke sells for less than 900 won (80 Cents). A can of Dawn 1004 of the Glami Co. is 10,000 won (US$9.00)!
And, at that, Dawn 1004 is about half the size of the Coke can, which means Dawn 1004 is over 20 times the price of Coke!
Learn how Dawn 1004 is made and why not start producing the incomparably lucrative business in your own country, export them to other countries and make your country a wealthy and strong country in the world!
Again, it is the DAY AFTER TOMORROW the Tour of the Glami Tour on Saturday 28 October 2017!
The diplomat-friendly Host, Chairman & CEO Nam Jong-hyun of the Glami Co., Ltd., presents the Madam of each Ambassador and Senior Diplomat with a prestigious Gilded Turtle Ship with an expression of his wishes for the Longevity and Good Health of the distinguished visitors. One representative from each country is presented with the rare gift>
The travelling time is a little over one hour, and it is a one-day tour, which also includes a rare opportunity to tour the Demilitarized Militarized Zone.
For details on the 'Glami Health Kingdom,' please visit
The itinerary of the Tour follows:
0900 hours, Saturday, 28 Oct. 2017: Meet at the Grand Hyatt Seoul (near the water fountain).
0910-1030 hours: Move to the Cheorwon City by deluxe Limousine buses.
1030-1200 hours: Visit Glami Industrial Plant and watch the production lines of the health beverage, Dawn 808.
1200-1330 hours: Attend Gala Luncheon at the Glami Daepyoung Hall (comparable to a five-star hotel banquet hall).
1330-1500 hours: Tour DMZ (to see if there have been any changes across the DMZ under Chairman Kim Jong Un of North Korea).
1500-1700 hours: Move back to the Glami Co.
1700-1830 hours: Move back to the Grand Hyatt Seoul.
A prestigious gilded Turtle Ship Model, a symbol of longevity and good health, is presented to the
Madam of each country with the wishes of Chairman Nam, the host, for the prosperity of the
Excellencies and all their children as well as good health and longevity.
For inquiries, please call Ms. Kim Sua (English and Korean) at 010-7584-5873, John Kim at 010-9205-0200 or Hwi Won at 010-5376-1225.
Other phone numbers are: Ms. Kim Jung-mi (010-3388-1682) and/or Publisher-Chairman Lee Kyung-sik (010-5201-1740).
Very Respectfully Yours
The 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:
Senator says sanctions are only option to rein in N. Korea
Applying economic sanctions is the only option available to get North Korea to give up its nuclear weapons program, a United States senator has said, stressing the importance of China's increased role in the process. "There is really no other option than to continue sanctions. The other option is military conflicts and we must avoid military conflicts," Cory Gardner, Republican senator from Colorado, told a group of South Korean journalists in his office in Washington, D.C. last week."It's important that we increase diplomatic and economic pressure on North Korea while we prepare for the protection of South Korea and our allies," the senator said. "At the forefront of what we do and the strengthening of our Korea-U.S. alliance are all for the purpose of the peaceful denuclearization (of North Korea)."
Samsung's brand value doubles in 5 yrs: research
Samsung Electronics Co. stood as South Korea's most valuable brand, with its brand value almost doubling in five years to US$51.4 billion, according to industry data Thursday. The brand value of Samsung Electronics posted a whopping 12 percent on-year climb this year, marking twofold growth from $28.5 billion in 2012, according to the data compiled by Britain-based industry tracker Brand Finance. Hyundai Motor Group followed with $8.7 billion, trailed by top mobile carrier SK Telecom Co. with $5.2 billion. No. 2 mobile carrier KT Corp.'s brand value was valued at $5.09 billion, with that of LG Electronics Inc. was estimated at $5 billion. Brand Finance said the strong brand value of Samsung Electronics was attributable to its record-breaking performances, which also offsets earlier shock from the mobile unit following the suspended production of the Galaxy Note 7 last year.
S. Korea to hold public hearing on FTA renegotiation with U.S.
South Korea will hold a public hearing next month on the renegotiation of a free trade pact with the United States, Seoul's trade ministry said Wednesday, as the two countries move to reset the terms at Washington's call. The hearing on the Korea-U.S. free trade agreement (FTA), slated for Nov. 10, will be an opportunity to exchange public views and collect opinions from experts in the related fields, the Ministry of Trade, Industry and Energy said. The public hearing is part of the legal procedure the government must take before it starts talks with its counterpart. Seoul and Washington agreed early this month to begin the process to amend the trade pact, which U.S. President Donald Trump has called "a horrible deal" that contributes to his country's trade deficit.
S. Korea's economic growth hits 7-year high in Q3
South Korea's economic growth hit a seven-year record high in the third quarter due to increased construction investment and exports, central bank data showed Thursday. In the July-September period, the country's gross domestic product (GDP) increased 1.4 percent from the previous quarter, faster than the previous quarter's 0.6 percent on-quarter gain, according to preliminary data from the Bank of Korea (BOK).The on-quarter growth is the fastest since the second quarter of 2010, when the economy rose 1.7 percent, the Bank of Korea (BOK) said in a statement. From a year earlier, Asia's fourth-largest economy improved 3.6 percent. The central bank data said increased government spending and construction investment, as well as a turnaround in exports, contributed to the economic growth.
Mattis: Everyone wants peaceful solution to N.K. crisis
U.S. Defense Secretary Jim Mattis said Wednesday that the international community seeks a peaceful solution to the North Korean nuclear crisis. He was speaking en route to Thailand after meeting with his counterparts from South Korea, Japan and Southeast Asian nations at a regional gathering in the Philippines. "A number of people talked about hoping diplomatic efforts will work, that sanctions will cause them to change course," Mattis told reporters. "Do we have military options in defense if we're attacked, our allies are attacked? Of course we do. But everyone is out for a peaceful resolution. Not rushing to war."Tensions have escalated in the region following North Korea's nuclear and ballistic missile tests, and a war of words between U.S. President Donald Trump and North Korean leader Kim Jong-un.
S. Korea's Economic Growth Hits 7-Year High in Q3
South Korea's economy hit a seven-year high in the third quarter on strong exports. According to the preliminary data by the Bank of Korea on Thursday, the country's gross domestic product(GDP) reached 392-point-67 trillion won in the July-September period, up one-point-four percent on-quarter. The one-point-four percent growth is faster than the previous quarter's point-six percent on-quarter gain and also the fastest since the second quarter of 2010, when the economy rose one-point-seven percent. The economy grew three-point-six percent in the third quarter from a year earlier.
Trump, Xi Discuss N. Korea during Congratulatory Phone Talks
U.S. President Donald Trump has discussed North Korea with Chinese President Xi Jinping during telephone talks in which he offered his congratulations to Xi on being re-elected as leader at the China Communist Party Congress.Trump tweeted on Wednesday that he congratulated Xi on his "extraordinary elevation," adding they also discussed two very important subjects -- North Korea and trade. Trump reportedly congratulated Xi that the Communist Party Congress drew global attention and ended successfully, adding he paid close attention to major policies presented by Xi at the congress. Chinese state media reported that during the phone call Xi expressed a desire to work with Trump to "jointly blueprint future development of China-U.S. ties.”
'N. Korea's Warning of Nuke Test Should be Taken Literally'
A North Korean official says that Pyongyang's recent warning of a nuclear test over the Pacific Ocean should be taken "literally." Last month in New York, North Korean Foreign Minister Ri Yong-ho warned that Pyongyang may consider conducting the most powerful detonation of a hydrogen bomb over the Pacific Ocean. Ri Yong-pil, deputy chief of the North Korean Foreign Ministry's Institute for American Studies, said during an interview with CNN in Pyongyang on Wednesday that the foreign minister is well aware of the intentions of the North's supreme leader, so his words should be taken literally. The official added that North Korea "has always brought its words into action."
U.S. says it has 'unquestionable' ability to defend itself from N. Korea
The United States' ability to defend itself is "unquestionable" in the face of North Korea's renewed threat to test a nuclear weapon over the Pacific Ocean, the State Department said Wednesday. In a CNN interview aired earlier in the day, a senior North Korean official said last month's threat by his country's foreign minister should be taken "literally." "We have been clear that the United States has the unquestionable ability to defend itself, and its allies," Grace Choi, a spokesperson for the department's East Asian and Pacific Affairs Bureau, told Yonhap News Agency. "North Korea, through both its words and actions, threatens and undermines international peace and security."
Senator says sanctions are only option to rein in N. Korea
Applying economic sanctions is the only option available to get North Korea to give up its nuclear weapons program, a United States senator has said, stressing the importance of China's increased role in the process."There is really no other option than to continue sanctions. The other option is military conflicts and we must avoid military conflicts," Cory Gardner, Republican senator from Colorado, told a group of South Korean journalists in his office in Washington, D.C. last week."It's important that we increase diplomatic and economic pressure on North Korea while we prepare for the protection of South Korea and our allies," the senator said. "At the forefront of what we do and the strengthening of our Korea-U.S. alliance are all for the purpose of the peaceful denuclearization (of North Korea)."
N.K. leader congratulates Xi on re-election as communist party's chief
North Korean leader Kim Jong-un has congratulated Chinese President Xi Jinping for being re-elected as the head of the communist party, expressing his conviction for better bilateral ties, Pyongyang's state media said Thursday. Kim sent a congratulatory message to Xi on Wednesday after the Chinese leader was elected as general secretary of the Central Committee of the Communist Party of China at the country's latest party congress, according to the Korean Central News Agency (KCNA). The message "expressed the conviction that the relations between the two parties and the two countries would develop in the interests of the peoples of the two countries," the KCNA reported.
The Korea Herald (http://www.koreaherald.com)
Competition heats up to take lead in AI initiative at Samsung
Artificial intelligence is an immediate challenge for South Korean electronics behemoth Samsung Electronics, which is still lacking AI specialists and relevant technologies in its transition from a hardware-oriented technological focus to software. Vice Chairman Kwon Oh-hyun’s departure from the company next year sends Samsung the serious message that the Korean IT company -- whose growth has been largely supported by its chipmaking unit for the past three decades -- should find something other than hardware products to achieve new growth.
Pilot ‘right to die’ program gets warm reception
Park Chung-nam has decided to refuse medical care for life extension if he becomes terminally ill. “I believe it’s not up to doctors to decide whether to prolong suffering in my final days. If I become terminally ill, medical aid options could extend my life, but not save it,” said Park, 72, adding that as a church elder, he has seen several members of his church die in hospitals. “I’d rather die with dignity.”
Seoul pins hope on NK participation in PyeongChang
The official countdown for the Winter Olympics in PyeongChang, South Korea, has begun, with the lighting of the Olympic flame in ancient Olympia in Greece on Tuesday. Despite South Korean organizers’ determination to make the Winter Games a big hit, much of the event’s success may depend on the host country’s enigmatic neighbor, North Korea. Taking place just a scant 80 kilometers away from the heavily fortified border with the communist regime, the PyeongChang Games have made some athletes wonder about their safety, amid all the news about the North’s unpredictable young dictator Kim Jong-un and his dangerous pursuit of nuclear weapons.
The Korea Times (http://www.koreatimes.co.kr)
Seoul-Beijing ties show signs of thawing
South Korea's relations with China, soured by the deployment of a U.S. anti-missile system here, are showing signs of improvement following Chinese President Xi Jinping entering into his second term. The icy relationship has apparently been thawing recently in the economic and defense areas, and expectation is growing that leaders of the two countries may have a summit within the year. South Korean Defense Minister Song Young-moo and his Chinese counterpart Chang Wanquan had talks for about half an hour in Clark, the Philippines, Tuesday, the last day of the Chinese Communist Party's 19th congress.
President Moon stresses diplomacy with 'Big 4'
South Korea's diplomacy with four powerful countries — the United States, China, Russia and Japan — is more important than ever as the North Korea nuclear issue has entered a critical phase, President Moon Jae-in said Wednesday.
Moon made the remark during a ceremony at Cheong Wa Dae to present credentials to the country's new ambassadors to the four nations. They are Ambassador to Washington Cho Yoon-je, Ambassador to Beijing Noh Young-min, Ambassador to Moscow Woo Yoon-keun and Ambassador to Tokyo Lee Su-hoon. Moon asked the new ambassadors to make every effort not only to seek diplomatic solutions to the nuclear issue, but to establish peace on the Korean Peninsula and in Northeast Asia.
Photos of anti-US protest spread online ahead of Trump visit
Pictures of an anti-U.S. protest rally in South Korea spread online, causing concern ahead of U.S. President Donald Trump's state visit to the country next month. The rally was led by the Korean Confederation of Trade Unions (KCTU), the country's second-largest umbrella trade union. Near a Busan hotel where the U.S. Navy held a party to celebrate its 242-year history Oct. 14, protesters chanted messages like "U.S. troops go home!" Since then, photos and a video of their protest have been shared by thousands of people on social media, including U.S. sailors and their families. In their propaganda pamphlet to the sailors, they said, "Koreans despise dotard Trump. We also abhor you, his servants. It is because you are a war monster."
DongA Ilbo (http://english.donga.com)
With absolute power, Xi calls for opening and reform in 2nd term
Chinese President Xi Jinping, who established absolute authority at the latest congress of the Communist party of China, suggested “opening and reform” and “people” on Wednesday as the keywords for his second term in office. At a news conference at the Great Hall of the People in Beijing, he vowed to modernize China’s ruling system and capabilities while continuing to intensify reforms and open the country to make reform and opening facilitate each other and become complementarily advantageous on the occasion of the 40th anniversary of the country’s reform and opening. He also expressed his belief that the prosperity of the Chinese nation would be realized during the process of reform and opening.
Moon congratulates Xi's re-election as the CPC's head
President Moon Jae-in has sent a congratulatory message to Chinese President Xi Jinping on his reelection as general secretary of the Communist Party of China. “I hope to meet you again in the near future and look forward to deepening relations between our two countries, which celebrate 25 years of diplomatic ties this year,” said President Moon in his letter on Wednesday. Moon’s proposal comes as a gesture of thaw, building upon improved relations between the two countries following the extension of the Korea-China currency swap. “I sincerely hope that your ‘Dream of China’ will be accomplished under your leadership and look forward to your further contribution to building peace and joint prosperity of Northeast Asia as well as the international community,” Moon added in the message.
Hyundai Motor joins auto-driving research project in U.S.
Hyundai Motor Group has secured partnerships with Ford, Toyota and AT&T to build a large-scale research complex for the testing of fully automated driving technologies in Michigan, the United States. The Korean automaker aims to push forward with its efforts to increase a technology-based partnership with global peers, for which Hyundai’s passive approach has been criticized, and develop technologies for automated vehicles. Hyundai Motor Group will build the American Center for Mobility (ACM) in Michigan, a hub of the U.S. auto industry, according to the company on Wednesday. The Michigan state government, the University of Michigan, Ford, Toyota and AT&T also join the ACM project along with Hyundai.
Chosun Ilbo (http://english.chosun.com)
Asiana Exempt from 'Extreme' U.S. Flight Vetting
Passengers bound for the U.S. need to arrive at boarding gates about half an hour before departure under enhanced security measures starting Thursday.The Ministry of Land, Infrastructure and Transport on Tuesday said it carried out a test run for the new measures on Oct. 19 at the request of the U.S. Transportation Security Administration. It said passengers will have "no problems" despite tougher security screenings if they arrive at the airport about three hours before departure. Airline security officers interviewed passengers waiting in line at check-in counters, but it did not take much longer than usual.
Big Business Happy with Anti-Graft Law, But Small Firms Gripe
The anti-graft law that took effect in September last year is a success with big businesses, which save a lot of money on gifts, but small firms complain that it is making things harder for them. In a poll by the Korea Chamber of Commerce and Industry of 300 companies on Tuesday, 74.4 percent said the anti-graft law has made it easier for them to do business, but 23.9 percent complained things got worse. Some 32.8 percent said the law improved fairness from public servants, who no longer favor certain firms over others now that permissible gifts have been capped at a nugatory value. The same proportion were also glad that the law saves them from having to entertain clients with lavish boozy dinners.
Shinsegae's Multi-Brand Cosmetics Shops Take off
Shinsegae Department Store has opened a new chain store called Chicor that sells a wide selection of beauty products from Korea and overseas. Chicor is the brainchild of Shinsegae president Chung Yoo-kyung and modeled after Sephora, the successful French chain. The first Chicor store opened at the Daegu branch last December and now it is expanding nationwide to Seoul, Busan and Ilsan, Gyeonggi Province.The main selling point is the bird's-eye view of cosmetics from around the world. It sells more than 200 cosmetics products in all price ranges, from eye shadow to hair products, many of which had been unavailable to Korean consumers except from overseas online stores. Customers can also try on products for free. Sales are rising steadily, with market insiders saying Chung's strategy of using Chicor as a new growth engine for the conglomerate is paying off.
HanKyoReh Shinmun (http://english.hani.co.kr)
Mike Honda speaks about publicizing comfort women issue in the US
“I think the Abe administration’s policies and Abe’s remarks themselves are evidence of anti-intellectualism. They say there’s no [corroborating] evidence, but since there are obviously documents showing that the Japanese government systematically mobilized and kidnapped women, the Japanese government ought to take responsibility. That’s why the Kono Statement was released. It’s not so much that there’s insufficient evidence as that there’s a lack of moral leadership in the current Japanese government,” said former US Congressman Michael Honda, 76. Honda dismisses as “nonsense” the claims of Japanese Prime Minister Shinzo Abe and the Japanese government that there was nothing compulsory about the mobilization of the comfort women for the Japanese Imperial army.
Hankyoreh ranked most trusted and most preferred among university students
The Hankyoreh has been selected as the general daily newspaper most trusted and preferred by South Korean university students. It has been ranked first in the category of trust for 17 years in a row and first in preference for 10 years in a row. In the 2017 Survey of University Students’ Corporate Image and Product Preference, which was carried out among 1,203 university students around the country by a newspaper called the University News Network, the Hankyoreh ranked first in the categories of trust and preference. 16.5% of respondents said that the Hankyoreh was the comprehensive daily newspaper they trust the most.The Hankyoreh also ranked first in the category of preference for general daily newspapers, chosen by 19.2% of the university students surveyed. The Hankyoreh has ranked first in trust in this newspaper’s survey since 2001, and it has also maintained first place in preference since 2008. The Joongang Ilbo and the Kyunghyang Shinmun were tied for second in trust, with 14.9%, while the Joongang Ilbo was second, at 14.2%, and the Kyunghyang Shinmun third, at 13.9%, in the category of preference.
North Korean official raises possibility of dialogue to resolve tensions
Choe Son-hui, the North Korean Foreign Ministry’s North American affairs bureau chief, recently said there “may be an exit” from the North Korean nuclear crisis if the US “makes the right choice to abandon its hostile policies and co-exist with North Korea as a nuclear state,” it was reported on Oct. 24. The message is being interpreted as suggesting Pyongyang is leaving the possibility of dialogue open.
Choe’s remarks were made during a closed-door session on “Detente on the Korean Peninsula” at the Moscow Nonproliferation Conference on Oct. 21, a South Korean Ministry of Foreign Affairs official reported.
When asked what was specifically meant by the US “abandoning its hostile policies,” Choe reportedly replied, “For a diplomatic and peaceful resolution to happen, the right atmosphere must be formed, but North Korea cannot sit down at the negotiating table when there are threatening tweets from President [Donald] Trump every day.”
JoongAng Ilbo (http://koreajoongangdaily.joins.com/)
U.S. House squeezes Pyongyang
The U.S. House of Representatives on Tuesday overwhelmingly passed a bill described by congressmen as the “harshest” secondary financial sanctions ever on North Korea, named after Otto Warmbier, the American university student who died after being arrested and jailed by the Pyongyang regime. The legislation, which passed 415 to 2, would direct the Treasury Department to ban U.S. financial institutions from engaging in transactions that benefit people or entities associated with the North Korean government. The bill was renamed after the 22-year-old University of Virginia student from Wyoming who was arrested and convicted of “anti-state” activities in North Korea last year and died after his June return to the United States without waking from a vegetative state.
Before Trump arrives, strategic assets assemble
Ahead of U.S. President Donald Trump’s Asia tour early next month, American strategic assets including its powerful stealth fighters and three nuclear-powered aircraft carrier strike groups are gathering in the region. The USS Nimitz, escorted by its cruisers, destroyers and submarines, joined the Roosevelt and Reagan carrier strike groups in the western Pacific, according to the Navy Wednesday. The San Diego-based USS Theodore Roosevelt aircraft carrier arrived in the western Pacific Ocean, according to the U.S. Navy Tuesday. It is accompanied by the guided-missile cruiser USS Bunker Hill and guided-missile destroyers. The USS Ronald Reagan carrier strike group arrived in Busan for a five-day maritime exercise with the South Korean Navy last week that ended Friday. It plans to go back to Japan Saturday.
Hyundai joins auto coalition supporting Nafta
Global auto companies operating in the United States, including Korea’s Hyundai Motor, formed a coalition aimed at saving the North American Free Trade Agreement (Nafta). Major automotive companies on Tuesday, local time, created “Driving American Jobs,” which was created “to safeguard American jobs in the automotive industry” by preventing the United States from withdrawing from Nafta, according to local reports. Members include Hyundai, Korea’s top auto maker, which has a large manufacturing plant in Alabama, and General Motors, Ford, Volkswagen and Toyota. Hyundai’s assembly plant in Alabama employs some 3,000 local workers to make engines and vehicles, according to the company. According to a statement by the coalition, this is the first time in history that auto companies in the United States decided to join forces to protect a trade agreement.
The KyungHyang Shinmun (http://english.khan.co.kr/)
President Moon, "Urgent Need to Restore Partnership with Labor on State Matters"
At a dinner with labor leaders on October 24, President Moon Jae-in said, "It is a very important and urgent task to restore the partnership between labor and the government on state affairs." He also expressed his desire for progress in social dialogue through the Tripartite Commission. The president stressed the restoration of relations between labor and the government ahead of executing his labor pledges, such as the raising of the minimum wage and solving problems concerning workers working on a temporary contract, but the Korean Confederation of Trade Unions (KCTU), a key party, was absent leaving a huge void in this day's meeting. A rocky road is expected ahead.
Why Was the Korean Confederation of Trade Unions Absent in a Meeting with the President?
The Korean Confederation of Trade Unions (KCTU) did not attend the meeting and dinner hosted by President Moon Jae-in on October 24. The reason was because Cheong Wa Dae invited Moon Sung-hyun, chairman of the Tripartite Commission and also unilaterally invited the representatives of the individual industry unions to the dinner. Due to the absence of KCTU, the first talks between labor and the government in the Moon Jae-in government ended up as one half of a meeting. Indeed, this is disappointing. At a time when pending labor issues, such as the creation of jobs, switching temporary contracts to regular full-time contracts, and shorter working hours, are piled up, we wonder if the government and labor coming together for a meal is that difficult a task.
Lee Myung-bak's Intelligence Service Tried to Tarnish Former President Roh Moo-hyun's Reputation, "Leak Information about Expensive Watch to the Press and Mildly Humiliate Him"
The National Intelligence Service (NIS) under the Lee Myung-bak government told a senior prosecutor investigating former President Roh Moo-hyun to leak information about Roh receiving an expensive watch to the press to humiliate the former president. It was confirmed that the NIS conducted a project to support conservative groups by connecting them to public and private businesses. On October 23, the National Intelligence Service reform committee received a report of the investigation results by the task force overseeing the eradication of long-established irregularities and recommended that the government request a prosecutors' investigation.
The Korea Economic Daily (http://english.hankyung.com/)
POSCO Completes Steel Wire Service Center in the U.S.
POSCO, Korea's largest steel maker, has completed on September 22 the construction of a steel wire service center in Jeffersonville, Indiana, with an annual capacity of 25,000 tons. The plant will supply steel wire goods to be used for bolts, nuts, and bearings to auto parts companies. Started in April last year, the service center cost the company US$20.9 million to build. The high-quality steel materials produced in the new plant will be supplied to companies like Simplex Korea, Taeyang Metal Industrial, Nissan, and Fontana. Kwon Oh-joon, chairman of POSCO, said in a speech at the service center, "With the completion of the processing center, we will be able to sell our products directly to customers in the world's largest steel wire market. I hope more Korean automotive parts
Industry Panics over Prospect of Rising Subcontract Worker Disputes
As the government pronounced illegal on the practice of companies relying on subcontract workers for a long time such as the cases in Paris Baguette and Mando-Hella, the whole industry in shock. This is not just restricted to manufacturers but is spread to services and the food franchise industry as well.The corporate sector expected on September 24 that companies like Tous Les Jours, Samsung Electronics service centers, and LG U+ will likely face the same problem any time soon after the Ministry of Employment and Labor made a decision on dispatch workers. An official with a large corporation said that he is worried that the government may pressure his company to hire all dispatch workers as full-time regular employees.
Gov't Decides to Give $8 Mil. Aid to North Korea...Timing to Be Announced Later
The government has decided to give support to North Korea worth US$8 million in programs helping its vulnerable people including children and pregnant women indirectly through international organizations. It, however, has not decided when to start sending money and exactly how. This is interpreted as a choice to deflect criticism that it is undertaking an aid project at a time when North Korea is causing an international storm by launching a series of missile tests. On September 21, the government held a consultative meeting for inter-Korean exchange and cooperation and approved an agenda to provide $8 million to programs such as those for North Korean mothers and children' health and nutrition by way of the UNICEF and the World Food Program.
AJU Business Daily (http://eng.ajunews.com/korea)
Hyundai makes $5 mil strategic investment in developing US connected car R&D center
In a strategic move to gain competitiveness in the fast-growing global connected and automated vehicles (CAV) market, Hyundai will invest five million US dollars to support the creation of collaborated testing grounds for next-generation cars in development as a founder-level sponsor."The Hyundai America Technical Center, Inc. (HATCI) is entering into a long-term partnership with the American Center for Mobility (ACM)," Hyundai said in a statement on Wednesday. "As a founding member, we will help set the direction for CAV standards and test advanced technologies in a safe environment for the North American customer."
Mirae Asset creates fund to buy into China's Meituan-Dianping
As part of its aggressive investment in foreign assets, Mirae Asset Financial Group, a leading asset manager in South Korea, has created a private equity fund to buy into China's rising start-up company, Meituan-Dianping. The 13 billion won (11 million US dollars) fund, created by Multi Asset Global Investments, a Mirae group subsidiary, has attracted a number of domestic institutional investors, according to banking sources. Details were not given. Meituan-Dianping is the world's largest online and on-demand delivery platform known for 10 million daily orders and deliveries. Chinese and global investors have joined its pre-IPO (initial public offering).
Winter Olympic flame stand and main stadium in Pyeongchang
The Olympic flame holder stands in the Pyeongchang Olympic Stadium where the opening and closing ceremonies of next year's Winter Olympics will be held. The Olympic torch was lit in Greece on Tuesday. Some 7,500 runners will participate in a torch relay that covers 2,018 kilometers. The flame will arrive at the stadium on February 9.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Hyundai Motor to invest $5 mn in U.S. future mobility center
Hyundai Motor Group has decided to invest $5 million in a U.S. mobility research center to gain an edge in the automated and connected car development race. South Korea’s largest automaker said on Wednesday it will participate as a founder-level sponsor for a test site to be built by the American Center for Mobility (ACM), a Michigan-based testing and product development facility focused on automated and connected vehicle technology. Backed by the State of Michigan, the center was founded in partnership with the Michigan Department of Transportation, the University of Michigan and other relevant industry players.
LG Display Q3 OP dn 27% on quarter due to LCD price softening
South Korea’s LG Display Co. on Wednesday reported a 27.1 percent fall in its operating profit in the third quarter ended September from the previous three-month period due to softening in liquid crystal display (LCD) TV prices. Against the year-ago period, operating profit soared 81.3 percent, benefiting from higher panel prices and demand for pricier organic light-emitting diode (OLED) TVs. LG Display said in a regulatory filing that its operating profit for the July-September period fell 27.1 percent on quarter to 586.0 billion won ($519.0 million) on a consolidated basis. It, however, surged 81.3 percent against a year ago period. Its sales reached 6.97 trillion won, up 5.2 percent on quarter and 3.7 percent on year. Net profit sank 35.3 percent on quarter to 477.2 billion won.
Samsung BioLogics swings to profit in Q3 on brisk sales in Europe
Samsung BioLogics Co. swung to a profit in the third quarter on the back of brisk sales of its biosimliars in Europe. The bioengineering unit of Samsung Group founded in 2011 and groomed as a new growth engine for the Samsung empire reported Wednesday an operating profit of 20.5 billion won ($18.2 million) in the third quarter ended in September, compared with a loss of 8.5 billion won in the previous quarter. Sales more than doubled to 127.5 billion won on quarter as well as on year. The strong performance was mostly attributed to the European market. Samsung Bioepis Co., a joint venture between South Korea’s Samsung BioLogics and U.S.-based Biogen Inc., also reported on Wednesday combined revenue of $257.9 million in Europe so far this year with sales of its biosimilars Benepali and Flixabi surging more than fivefold from a year earlier.
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The New York Times www.nytimes.com firstname.lastname@example.org
Financial Times www.ft.com email@example.com
The Times www.thetimes.co.uk firstname.lastname@example.org
The Sun www.thesun.co.uk email@example.com
Chinese People's Daily firstname.lastname@example.org
China Daily www.chinadaily.com.cn email@example.com
GwangmyeongDaily www.gmw.cn firstname.lastname@example.org
Japan's Yomiuri www.yomiuri.co.jp email@example.com
Asahi www.asahi.com firstname.lastname@example.org
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it email@example.com
Germany Frankfurter AllgemeineZeitung www.faz.net firstname.lastname@example.org
SüddeutscheZeitung www.sueddeutsche.de email@example.com
Australia Brisbane Times www.brisbanetimes.com.au firstname.lastname@example.org
Sydney Morning Heraldwww.smh.com.au
Colombia Reports http://colombiareports.com
El Universal http://www.eluniversal.com.mx/english
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
The Korea Post is running video clips from the different embassies.
And many other countries.