The Korean daily media headlines and humor

The Korean daily media headlines and humor

Thursday, November 2, 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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Finally it’s TOMORROW!

The Cheongsong Apple Festival on Friday Nov. 3, 2017.

The Cheongsong apples won the Top Award in the Apple Contest for five years in a row!

Wouldn’t Your Excellency wish to ask the Host to impart the knowhow to Your Excellency’s own country?

If Your Excellency should find the date not convenient, please appoint an appropriate officer to represent your esteemed country.

Again, it is TOMORROW, the 13rd Cheongsong Apple Festival (Friday Nov. 3).

There are many interesting events and sights offered by the Host that day.

See The Korea Post article and photos at http://www.koreapost.com/news/articleView.html?idxno=4097

The tour is organized for the Ambassadors, Senior Diplomats and Madams by The Korea Post media at the invitation of Mayor Han Dong-su and the chairman of the Organizing Committee of the Festival.

Cheongsong has won the Slow City Award for the three consecutive years, is a UNESCO Geological Park, is widely known for a Slow City in Korea and its Apple has won the TOP AWARD in quality and taste for the five consecutive years.

Mayor Han is providing each visiting Diplomat that day with a box of Top Quality Cheongsong Apples for the purpose of personal sampling and introduction to all the countries of the world through actual sampling by the Excellency and Madam as well as their own country.

The itinerary of the Tour follows:

0900 hours Friday November 3, 2017: Meet at Grand Hyatt Seoul

0905-1150 hours: Depart for Cheongsong by a Limousine bus.

1150-1200 hours: Meet and exchange of pleasantries and greetings with Mayor Han Dong-su of Cheongsong.

1200-1300 hours: Luncheon with Mayor and Mrs. Han and other leaders of the County.

1330-1420 hours: Tour the Songso Ancient House of the Joseon Dynasty.

1420-1430 hours: Move to the Festival venue.

1430-1630 hours: Tour 2017 Cheongsong Apple Festival Venue.

1630-1800 hours: Tour the famed Juwangsan National Park.

1800-2050 hours: Move back to the Grand Hyatt Seoul from Cheongsong.

For inquiries, please call Publisher-Chairman Lee Kyung-sik (010-5201-1740) or Ms. Kim Su-a (010-7584-5873) for inquiries in English or Ms. Kim Jung-mi (010-3388-1692), Hwi Won (010-5376-1225), or John Kim for Korean information.

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

The Korea Post media

010-5201-1740

‘Apple Carriage’ in the fairy tale is re-enacted at the Cheongsong Apple Festival on Friday

Nov. 3, 2017 where the ambassadors and senior diplomats are invited with madams.

The special tour for the members of the Seoul Diplomatic Corps is organized by

The Korea Post media on the upcoming Friday.

Expatriate ladies demonstrate how to use the Cheongsong apples.

Cheongsong apples are noted for taste, flavor and nutrients and has won the

Top Award for five years in a row from the Korean government.

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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.

Prosecutors seek arrest warrants for two Park aides over bribery

Prosecutors have filed for warrants to arrest two former top secretaries of ousted President Park Geun-hye on bribery and other charges, the Seoul prosecution said Thursday. Ahn Bong-geun and Lee Jae-man are accused of taking at least 4 billion won (US$3.58 million) in kickbacks from National Intelligence Service (NIS) officials from 2013 until July last year, when the massive influence-peddling scandal involving Park began to surface, the Seoul Central District Prosecutors' Office said. They were detained Tuesday. Prosecutors have also charged them with a count of loss of state funds, since they were paid with the spy agency's expenses.

S. Korean carmakers' Oct. sales fall 10 pct on long holidays, weak demand

South Korea's five carmakers said Wednesday their combined sales fell 10 percent on-year last month due to fewer working days and weak demand. The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 690,326 vehicles in October, down from 766,944 units a year earlier, according to the companies' sales data. Their domestic sales fell 11 percent to 112,729 cars last month from the previous year's 126,660 units. Overseas sales also declined 9.8 percent to 577,597 autos from 640,284 during the same period a year earlier, the latest findings showed.

Blockchain advocate says S. Korea's ban on ICOs a 'mistake'

Don Tapscott, a prominent Blockchain advocate, said Wednesday South Korea's ban on cryptocurrency and its crowdfunding scheme is "heavy-handed regulation" that can hamper innovation and the growth of startups. An initial coin offering (ICO) occurs when firms create their own cryptocurrency and issue it to investors, rather than seek investment directly from markets or venture capital firms. In late September, South Korea's financial authorities said they will prohibit all forms of ICOs to address concerns of an asset bubble and potential market manipulation. While some regulations are needed to curb speculative activities, the CEO of the Tapscott Group and co-founder of the Blockchain Research Institute said the comprehensive ban on all types of ICO token sales would be a "mistake."

KEPCO holds global electric exhibition in Gwangju

Global electric power experts and engineers gathered in South Korea on Wednesday to exchange views on the future of the power industry at an exhibition hosted by the state-run Korea Electric Power Corporation (KEPCO). The Bitgaram International Exposition of Electric Power Technology (BIXPO) kicked off its three-day run in Gwangju, 330 kilometers south of Seoul. Held under the slogan "Connect Ideas, Meet the Fourth Revolution," the third annual exhibition is the largest to date, bringing together about 3,000 senior officials and engineers from 268 companies representing 40 countries. They include Siemens, GE, Nokia, HP and Microsoft, KEPCO said.

Xi suggests 'sound, stable' China-N.K. ties in message to Kim

Chinese President Xi Jinping sent a message to North Korean leader Kim Jong-un, expressing hope for "sound and stable" relations between the two countries, according to Pyongyang's state media Thursday. Xi was replying to Kim's congratulatory message last week on his re-election as the leader of the ruling Communist Party of China (CPC) at the 19th Congress of the party. Xi will remain in power at least until 2022. "I wish that under the new situation, the Chinese side will make joint efforts with the North Korean side to promote the sustainable soundness and stable development of the relations between the two nations," Xi was quoted as saying by the Korean Central News Agency (KCNA).

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

Xi Hopes for Development in China-N. Korea Relations

Chinese President Xi Jinping has sent a message to North Korean leader Kim Jong-un, expressing hope for development in bilateral relations under new circumstances. North Korea's state media Korea Central News Agency(KCNA) reported on Thursday that Xi, General Secretary of the Chinese Communist Party, on Wednesday sent a reply to Kim's recent congratulatory message to Xi. In the message, Xi reportedly expressed gratitude for Kim's message on behalf of the Central Committee of the Chinese Communist Party. He also hoped that China and North Korea will make joint efforts to promote the sustainable soundness and stable development of their relations to bring greater happiness to their people and also contribute to mutual progress and regional peace and stability.

Arrest Warrants Sought for two Park Aides

The prosecution has sought arrest warrants for former presidential aides Ahn Bong-geun and Lee Jae-man on charges of receiving bribes from National Intelligence Service(NIS) officials. The Seoul Central District Prosecutors' Office, which detained Ahn and Lee on an urgent warrant approved by a court on Tuesday, requested formal arrest warrants on Thursday. Ahn and Lee, the closest aides to ousted President Park Geun-hye, allegedly received 100 million won from the NIS officials every month between 2013 and 2016 under the Park administration. Lee Hun-soo, a former senior official at the spy agency, reportedly testified earlier during questioning that he delivered 100 million won in cash every month to key officials at the presidential office since Park took office.

Defector: US Strike Would Trigger Automatic N. Korea Retaliation

A high-ranking North Korean defector has warned that a preemptive attack by the U.S. would trigger automatic retaliation by North Korea. Thae Yong-ho, North Korea's former deputy ambassador to London, who defected to South Korea last year, made the remarks on Wednesday before the U.S. House Foreign Affairs Committee. Thae warned that North Korea has tens of thousands of artillery guns and short-range missiles at the military demarcation line and the North's officers are trained to open fire on the South in response to any bombing or U.S. military strike. Thae, who is making his first visit to Washington since his defection last year, said that the U.S. and South Korea would win a war after a preventive military strike, but there would be a "human sacrifice."

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

Top N.K. defector urges U.S. to meet with Kim

A high-ranking North Korean defector urged the United States on Wednesday to meet with Kim Jong-un before considering military action against his regime. Thae Yong-ho, a former deputy chief at the North Korean Embassy in London, addressed the current crisis over North Korea's nuclear weapons program as he testified before the House Foreign Affairs Committee on Capitol Hill. "Some people do not believe in soft power but only in military options," the 55-year-old said on his first visit to the U.S. "But it is necessary to reconsider whether we have tried all non-military options before we decide that military action against North Korea is all that is left." He went on to make a proposal that Washington has been reluctant to embrace.

Xi suggests 'sound, stable' China-N.K. ties in message to Kim

Global response required over N. Korean missiles able to reach N. America, Europe: NATO chief

A global response is required to deal with North Korea's development of long-range missiles that are able to reach North America and Europe, the chief of the North Atlantic Treaty Organization (NATO) said Wednesday. "It's a global threat. It's a big challenge for the Republic of Korea being so close. But it's also a challenge for the rest of the world because North Korea is now developing more longer-range missiles able to reach both North America and Europe," NATO Secretary General Jens Stoltenberg said in his meeting with Foreign Minister Kang Kyung-wha."This is another example that security is inter-connected and global threats require global responses," the Norwegian politician turned NATO chief noted.

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

Samsung set on getting smarter with IoT platform ‘SmartThings’

This is the second installment of a series of articles delving into new technologies Samsung Electronics is betting on for its new source of growth. -- Ed. One day after the announcement of the new leadership, Samsung Electronics’ outgoing Vice Chairman Kwon Oh-hyun sent a grave message to his successors. “The moment of being at the top, this might be the beginning of a crisis,” Kwon said at a ceremony held AT Samsung Electronics’ campus in Suwon, Gyeonggi Province, on Wednesday to mark the 48th anniversary of the company's foundation. “Tremendous changes are expected in the next 10 years with rapidly changing artificial intelligence and Internet of Things industries and varying consumers’ needs” he said. “It is clear that working hard is not enough.”

NK’s nuclear test site crumbling down?

After North Korea conducted its sixth and largest nuclear experiment in September, signs have emerged that its test site in Punggye-ri may be falling apart. A series of earthquakes, which is unusual in the area, have been recorded, while a massive tunnel collapse at the site was also detected. Japan’s Asahi TV on Tuesday reported that at least 200 people died and about 100 people were trapped inside in a collapsed tunnel, without providing information on when it had happened. Seoul’s Unification Ministry said Wednesday that it would further investigate the report and it plans to make relevant announcements by the end of the year.

Humans still ahead of AI, at least in StarCraft

In the latest face-off between humans and artificial intelligence, a South Korean professional gamer beat his AI opponents 4:0 in the PC strategy game StarCraft during a competition held Tuesday at Sejong University in Seoul.Though the AI computers managed to beat two amateur players, the bots all lost against professional gamer Song Byung-gu, who is known as one of the best Starcraft players in the world. Three human players -- two student players and Song -- each competed against four AI bots trained in Starcraft including MJ Bot from Korea’s Sejong University, ZZZK from Australia, TSCMOO from Norway and CherryPi created by Facebook.

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

Moon rules out nuclear armament

President Moon Jae-in has ruled out the possibility of South Korea developing or stockpiling nuclear weapons, saying he is seeking a denuclearized Korean Peninsula. In an address to the National Assembly, Wednesday, the President renewed his determination to pursue peace on the peninsula, pledging to resolve North Korea's nuclear and missile issues peacefully. His remarks come as the main conservative Liberty Korea Party is calling for the redeployment of U.S. tactical nuclear weapons here as a deterrence against the North's missile threats.

D-100: PyeongChang Olympics torch relay by the numbers

The 2018 PyeongChang Olympics has reached an important milestone ― it is only 100 days away. And the countdown has started with a torch relay that began following the arrival of the Olympic flame from Greece on Wednesday. Here are the significant numbers that represent the relay: Torchbearers will run for 100 days until Feb. 9, 2018, the opening ceremony date. The number of torchbearers who will take the flame across the country, promoting the Olympics and fueling the festive mood. Among torchbearers are famous athletes and celebrities, including two-time speed skating champ Lee Sang-hwa, the 1996 Olympic marathon silver medalist Lee Bong-ju and K-pop star Suzy.

Samsung Electronics extends KOSPI rally

Seoul stocks extended record gains for four straight trading days, surpassing 2,550 points buoyed by foreign investments in tech shares, especially of Samsung Electronics, analysts said Wednesday. The benchmark KOSPI closed at an all-time high of 2,556.47 points, up 1.31 percent or 33.04 points. Foreign investors bought Seoul shares worth over 304 billion won. Analysts say Samsung's strong growth on semiconductors led the bullish rally following its record earnings in the third quarter. This has positively spilled over to other tech stocks, including SK hynix. "Samsung's dividend policy and stellar semiconductor business is driving the rally," said Yang Ki-in, an analyst at Shinhan Investment.

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

GM Korea launches diesel-powered All New Cruise

GM Korea has launched a diesel-powered model of “All-New Cruise.” The All-New Cruise offers the 1.6-liter diesel engine and has improved its rigidity by 27 percent and reduced the weight by 110 kilograms. The length of the diesel-powered All-New Cruise is approximately 100 mm longer than its competitors such as Hyundai Motor’s Avante, but the new compact sedan has achieved both robustness and weight reduction by using 74.6 percent of high intensity material such as ultra-high strength steel, the automaker said on Wednesday. The diesel-powered All-New Cruise produces a maximum output of 132 horsepower and a maximum torque of 32.6kg·m.

Arrest of serial murderer shocks Japan

Japanese police have arrested a 27-year-old man who is suspected to have murdered nine people over a period of two months, luring some of the victims via social media for a suicide pact. Investigators found nine dismembered bodies including severed heads and bones. According to the Asahi Shimbun daily newspaper and other Japanese media outlets, Tokyo police arrested Takahiro Shiraishi in apartment in Zama, Kanagawa Prefecture. He is suspected to have murdered four in their late teens and five in their 20s since August 22, when he moved into the apartment. One victim was a male, while the others were female.

Continued talks of S. Korea-China top diplomats bear fruit

On July 6, after Korean President Moon Jae-in and his Chinese counterpart Xi Jinping sat down for their first bilateral summit in Berlin, Germany, Chung Eui-yong, the head of the National Security Office at the presidential office Cheong Wa Dae, and Yang Jiechi, China’s top diplomat, met in utmost secrecy. In the following 90-minute-long meeting, the two foreign policy chiefs had an intense argument over the deployment of the Terminal High Altitude Area Defense (THAAD) system in Korea, which had triggered a diplomatic row between the two neighbors. Their July meeting did not yield any immediate breakthrough, but was the start of bilateral efforts to come up with an agreement to improve South Korea-China relations Tuesday.

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

U.S. Stealth Bombers Practice Hitting N.Korean Targets
The U.S. military conducted bombing drills recently in the mountains of Missouri to practice hitting targets in North Korea. According to U.S. website the Aviationist on Tuesday, the U.S. Air Force practiced night-time air raids at Whiteman Air Force Base in Missouri involving two B-2 stealth bombers, while radio communication was overheard referring to "North Korea's leadership. David Cenciotti, who runs the website, said, "Was the exercise aimed at simulating a raid on a North Korean 'VIP'? Most probably yes."

Korea, China Put THAAD Spat Behind Them
Korea and China agreed Tuesday to normalize diplomatic ties frayed by a spat over the deployment of a Terminal High-Altitude Area Defense battery from the U.S. here. The two foreign ministries posted a joint statement on their websites and said the two presidents will meet on the sidelines of APEC forum in Da Nang, Vietnam next week. "Both sides shared the view that the strengthening of exchanges and cooperation between Korea and China serves their common interests and agreed to expeditiously bring exchanges and cooperation in all areas back on a normal development track," the statement said.

Uniforms for Pyeongchang Olympics Unveiled
The uniforms for the athletes representing Korea at the 2018 Winter Olympics in Pyeongchang were unveiled on Tuesday at the National Training Center in Seoul. Some athletes, including speed skater Lee Seung-hoon and short track speed skater Choi Min-jeong, were on stage as models. Koreans medalists in Peyongchang will step onto the podium in an outfit with the lyrics of the national anthem printed in small letters in the lining, bearing a Korean flag embroidered on the left chest, and red and blue lines from the flag running diagonally next to it. On the left arm it will say "Team Korea." The trousers are black, another color from the flag.

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

US likely to welcome compromise over THAAD deployment

Following an agreement by South Korea and China to settle the conflict over the THAAD missile defense system and take steps to normalize relations, the US government under President Donald Trump is likely to keep a close eye on South Korea’s diplomatic actions in the future.In the short term, the Trump administration is expected to declare that it “welcomes” the agreement between the two countries. After all, it’s possible to conclude that the US got its way – while China has officially reaffirmed its opposition to the current THAAD deployment, it has resigned itself to the fact that the system is unlikely to be withdrawn.

Chinese concessions on THAAD speak to fears of losing influence on Korean Peninsula

The South Korean and Chinese government’s agreement to resolve their conflict over the THAAD missile defense system deployment appears to have been based in careful diplomatic, strategic, and economic considerations by the second-term leadership of the administration launched last week under Chinese President Xi Jinping. The state-run CCTV network and other Chinese media devoted major coverage to a document posted on the morning of Oct. 31 to the Foreign Ministry homepage, which read that China and South Korea had “deliberated on China-South Korea relations.” The document also said the two sides were “working to bring the bilateral relations back to the track of normal development.” Later that afternoon, Chinese Foreign Ministry spokesperson Hua Chunying said this “conform[s] to the common interests of the two sides.”

Two remaining members of Park Geun-hye’s “doorknob triumvirate” arrested on bribery charges

Former Blue House secretaries Lee Jae-man and Ahn Bong-geun – two members of the group known as the “doorknob triumvirate” during the presidency of Park Geun-hye – were arrested on Oct. 31 on the charge of taking bribes from the National Intelligence Service (NIS). The third member, Jeong Ho-seong, was arrested in November of last year in connection with the Choi Soon-sil scandal.

The recent arrests show that the close ties between the NIS and the Blue House during the Park administration went beyond colluding on various illegal activities, including obstructing investigations by the prosecutors and creating a “blacklist” of figures in the arts and culture, and extended to using public funds to make private payments.

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

Bull market continues as Kospi closes over 2,550

The benchmark Kospi stayed on its bullish streak thanks to strong corporate earnings and a breakthrough in strained relations with China, which pushed the index to close beyond the 2,550 mark for the first time. The Kospi closed an all-time high of 2,556.47 on Wednesday, gaining 1.31 percent or 33.04 points compared to the previous trading day. It was the fourth day in a row that the main bourse went up. Excepting Oct. 26, the index has risen for 10 consecutive days.
Analysts say that a combination of favorable factors - earnings surprises of market bigwigs, improved exports and an easing of diplomatic tensions with China - all contributed to the rally.

Moon has timeline for constitutional changes

President Moon Jae-in on Wednesday reaffirmed his vision to amend the Constitution to strengthen regional autonomy and decentralize power and presented a timeline to the National Assembly by proposing a national referendum on the change next June. Moon delivered an address at the National Assembly on the government’s budget proposal for next year, introducing the largest-ever 429 trillion won ($385 billion) budget bill. In the speech, Moon also addressed other political issues and urged the National Assembly to revise the country’s Constitution and election system. “To carry out constitutional reform is to uphold the will of the people,” he said. “It is necessary to expand the people’s basic rights in line with the changing times. For the balanced development of the capital area and provinces, decentralization and regional autonomy have to be enhanced.”

Ivanka is skipping visits to Seoul and Beijing

Ivanka Trump, who was supposed to accompany her father President Donald Trump on his Asia trip next week, canceled plans to visit Korea and China next week. Seoul officials had been anticipating Ivanka Trump’s visit, hoping she would be another means of directly sending a message to her father in her capacity as both first daughter and one of his most trusted senior advisers.The 35-year-old businesswoman and television personality and her husband Jared Kushner are part of the president’s inner circle, and the Korean government had been preparing a full itinerary appealing to her interests, particularly women’s empowerment. But the plans fell through a week ahead of the Trumps’ expected visit to Seoul.

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

China Chooses Practical Interests from Strategic Cooperation, THAAD Pushed Aside for Now
South Korea and China announced the results of discussions on closer bilateral relations, launching efforts to improve a relationship at its worst since the placement of the Terminal High Altitude Area Defense (THAAD) system on the Korean Peninsula. According to the announcement this day, the two countries have not changed their positions on the THAAD deployment, but they have decided to push this issue aside for now and expand cooperation and communication. The latest agreement was the outcome of a strategic decision that both countries needed to improve bilateral relations. South Korea needs China's cooperation in order to accomplish its national goal of a peaceful resolution of North Korea's nuclear problem and the denuclearization of the Korean Peninsula. Also, it urgently needs to escape the serious economic losses suffered due to China's retaliatory measures.

Flame of Peace Bringing Dreams and Hopes Lights the Nation Again for the First Time in 30 Years
The Olympic torch to illuminate the Olympic Winter Games PyeongChang 2018 has been handed over to the PyeongChang Organizing Committee for the Olympic and Paralympic Winter Games 2018. The Olympic torch, which will come to South Korea for the first time in thirty years since the 1988 Seoul Olympics will travel throughout the nation for 101 days delivering a message of peace. The organizing committee's torch delegation received the torch from the Hellenic Olympic Committee at the Panathenaic Stadium in Athens, Greece on October 31 (local time). Major South Korean figures including Minister of Culture, Sports and Tourism Do Jong-hwan and Chairman of the PyeongChang Organizing Committee for the Olympic and Paralympic Winter Games 2018 Lee Hee-beom were present for the ceremony along with Greek representatives, Greek President Prokopis Pavlopoulos and Chairman of the Hellenic Olympic Committee Spyros Capralos.

What We Have Accomplished and What Still Needs to Be Done
If there are long periods when a firm order continues in the history of a society, there are also turbulent moments when the desire for change conceived by that order erupts. Last fall and winter, when millions of citizens joined the candlelight rallies, was that moment. The battle between the regressive power, which resists such change, and the advancing power, which seeks to complete the change, continues. The group with the historical self-consciousness on what that change has achieved will have the power to define the future.

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

Tourism and Duty-free Industries Hopeful about Improving Korea-China Relations

AsKorea and China are set to improve their relationship that was rocked by thecontroversy over the Terminal High Altitude Area Defense (THAAD) anti-ballisticmissile system, Korea's tourism and duty-free shopping industries are raisingtheir hopes of better days. Thetourism industry believes that the Chinese government's group tour ban to Koreawould be relaxed soon. A travel agency in Hebei posted an Internet ad recentlyfor a group tour program to Korea in November at the price of 1,480 yuan(US$223). China's largest online travel agency Ctrip also put out group tourprograms to Korea for the first time in seven months.

Korea's MBI to Establish EV Plant in Vietnam

MBI, a Korean manufacturer specializing in making transmissions, will build an electric car plant in Hanoi, Vietnam, jointly with local firm N&G Group. The two companies will invest a total of US$1 billion for the next seven years. The companies said on September 21 that the heads of the two companies signed an agreement to establish a joint venture called Viko Motors in South Hanoi next month. Earlier in June this year, MBI was promised by the Vietnamese government and the Hanoi city government for a 20-year free land lease, high-tech investment incentive, preferential tariffs, and designation of MBI-held patented technologies as Vietnamese standards.

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.

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

S. Korea and China agree on early turnaround in strained ties

South Korea and China agreed on an early turnaround in relations that have been soured by the deployment of an American missile shield, saying they would try to find a solution through a channel of military dialogue. The agreement was announced simultaneously by Seoul and Beijing in the form of a press statement published on the websites of their foreign ministries. "The two sides agreed to expeditiously put the development of exchanges and cooperation in all fields back on a normal track, sharing the view that strengthening exchanges and cooperation between South Korea and China serve their interests," the South's foreign ministry said in a statement.

S. Korea's exports rise 7.1 pct in Oct. on strong demand for semiconductors

South Korea's exports jumped 7.1 percent in October from a year earlier on the back of strong demand for semiconductors, ships and petrochemical products, government data showed Wednesday. Outbound shipments came to US$45 billion for October, up from $41.9 billion tallied a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy and the Korea Customs Service. It marked the 12th consecutive month that exports have grown, despite shorter working days in October. South Korea's exports have been on a steady rise since November 2016, led by an upturn in oil prices and recovering global trade.

More nuke test may crumble N. Korea test site: weatherman

The chief of South Korea's weather agency said Monday that should North Korea detonate another nuclear device, it could trigger a collapse of its mountainous test site and a leak of radioactive materials. Nam Jae-cheol, the chief of the Korea Meteorological Administration, made the remarks during a parliamentary audit amid reports over a possible implosion at the Punggye-ri site in the North's northeastern region where it has carried out six nuke tests since 2006. "Based on our analysis of satellite imagery, we judge that there is a hollow space, which measures about 60 to 100 meters (in length), at the bottom of Mount Mantap in the Punggye-ri site," he said. "So, should another nuke test occur, there is the possibility (of a collapse)."

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

Korea’s Oct CPI up 1.8 %, the slowest in 10 mos on eased fresh food prices

South Korea’s inflation in October eased after hovering above 2 percent since July as runaway fresh food prices during the last unusually hot and rainy summer normalized. According to data released by Statistics Korea Wednesday, the nation’s consumer price index (CPI) gained 1.8 percent in October from the previous year, the smallest annualized gain since December last year. It hovered around 2 percent throughout this year, and shot up to 2.6 percent in August due to sharp gain in fresh food prices amid poor weather conditions.

Samsung Elec’s market cap exceeds $350 bn, widening gap with Intel

Samsung Electronics Co.’s market capitalization surpassed 400 trillion won ($358.4 billion) on Wednesday for the first time as investors welcoming the company’s stellar third-quarter results and generous shareholder benefits have flocked to pick up its stocks. On Wednesday, Samsung Electronics’ common stocks listed on the primary Korea Composite Stock Price Index (Kospi) climbed 3.9 percent from a previous session to close at 2,861,000 won and its preferred stocks jumped 4.2 percent to 2,335,000 won. The gains have buoyed the combined market capitalization of Samsung Electronics’ common and preferred stocks to 414.27 trillion won - 371.27 trillion won for common stocks and 43 trillion won for preferred stocks. This is the first time for the combined market cap value of Samsung Electronics to breach a 400 trillion won milestone.

S. Korea debuts world’s first commercial blockchain app for stock trade

The Korea Financial Investment Association has laid claim to the world’s first commercial blockchain smartphone application to allow users to access stock trade at multiple securities firms without the need for a verifying central certification.
On Tuesday, the association and 11 partner brokerages launched the implementation of Chain ID, a blockchain identification platform where a number of financial companies can securely share customer information for online identification.

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