The Korean daily media headlines and humor

The Korean daily media headlines and humor

Monday, December 4, 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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Now there are only TWO DAYS left to the Hanbok-International Costume Show on Thurs. Dec. 7!

APPLY NOW BY CALLING MS. KIM AT 010-7584-5873 OR 010-3388-1682!

Do a favor to the wonderful costumes of your country by showing them to the Korean audience at the following

Fashion parade, or you can show yourself in wonderful Korean costumes!

And a win a much-coveted Plaque of Citation CUM an attractive prize!

Ambassadors, diplomats, families invited to wear and introduce their costumes (and win coveted citations!)

On Thurs Dec. 7, 2017

Why hide the wonderful costumes of your country? Why not show off your personality in Hanbok and make the Korean people love you for that?

Ambassadors, diplomats and their family members are cordially invited to

Show off the wonderful costumes of their own country, or

Wear how wonderfully Korean Hanbok fit them!

And WIN the much-coveted Plaque of Citation!

Again the time-date is Dec.7 and the place is Plaza Hotel

Call Sua Kim or Kim Jung-mi at 010-7584-5873/010-3388-1682 for participation and inquiries.

And be fully exposed to the 5 media outlets (3 English, 2 Korean) of The Korea Post!

Schedule:

1800 hours, Thursday 7 December 2017: Presentation of Seodo (Korea’s Western Province) folk songs. Photo session for group photographs

1800-1820 hours: National anthem, declaration of ceremony open, welcome address and congratulatory addresses.

18:20-1850 hours: Presentation of performing art

1850-1940 hours: Dinner amidst with presentation of performing art numbers

1940-2010 hours: Fashion parades of Korean and international costumes.

2010-2030 hours: Presentation of citations and memorial gifts.

2030 hours: Declaration of the close of the Festival.

(For further details and inquiries concerning participation, please visit: http://www.koreapost.com/news/articleView.html?idxno=5448.)

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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.

State pension fund to adopt 'stewardship code': welfare minister

South Korea's state pension fund operator will introduce a set of guidelines next year to promote its role as the nation's biggest institutional investor, the welfare minister said Friday.Health and Welfare Minister Park Neung-hoo said it is a global trend to adopt the so-called stewardship code for state pension funds in order to protect their investment and boost their profitability over the mid and long term.

KAIM Chairman Cho, Suk-hwan develops Inter-Korean Hangeul keyboard jointly

“There is only one person in the Republic of Korea who is able to achieve real national reunification of the Korean peninsula.” A friend of mine told me so recently. It certainly was like a bolt from the blue. “Who could be that person?” I wanted to know. North Korea's Kim Jong-un shows the cold shoulder to the Moon Jae-in regime which has pursued an appeasement policy. The North Korean regime also turned down all appeasement gestures so far made by President Donald Trump of the United States. Still, the friend said that there is someone who is positioned to materialize national unification “peacefully’ and at the initiative of the Republic of Korea.

N. Koreans celebrate missile test

North Koreans dance on the streets of Pyongyang on Nov. 30, 2017, in this photo in celebration of their country's claimed successful test of a new type of an intercontinental ballistic missile. The North's Korean Central News Agency, which released this photo, said servicepersons and civilians celebrated the test conducted a day earlier, assessed by the outside world as showing advances in the country's missile technology. (For Use Only in the Republic of Korea. No Redistribution)

President Moon commends JSA troops over defection of N. Korean soldier

President Moon Jae-in on Friday met with a group of South Korean and U.S. soldiers guarding the border with North Korea to commend them on the way they handled the recent defection of a North Korean soldier through the heavily fortified border. "I invited you here because I wished to personally express my gratitude as the president of the Republic of Korea," Moon said during a 30-minute meeting at Cheong Wa Dae with the South Korean and U.S. troops stationed at the Joint Security Area, according to Cheong Wa Dae pool reports.

Moon, Trump agree to bring N. Korea to dialogue table thru sanctions, pressure

President Moon Jae-in and U.S. President Donald Trump agreed to continue strong pressure and sanctions against North Korea to bring the regime back to negotiations as they held their second phone talks in two days after Pyongyang's latest long-range missile test, Cheong Wa Dae said.

"The two leaders agreed on the need to maintain their basic stance of putting strong sanctions and pressure on the North until North Korea voluntarily gives up developing nukes and missiles and comes out for dialogue," Cheong Wa Dae said.

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

S. Korea, US Begin Massive Joint Air Drills

The Air Forces of South Korea and the U.S. are set to begin massive joint drills on Monday, mobilizing about 230 aircraft, including six U.S. F-22 Raptor stealth fighter jets. A South Korean military official said that the two sides will hold their annual joint drills named "Vigilant ACE" from Monday to Friday on the Korean Peninsula. The drills come five days after North Korea launched its Hwasong-15 intercontinental ballistic missile(ICBM).

'N. Korea Ready to Negotiate with US With Russia's Help'

North Korea has reportedly said that it's willing to negotiate with the U.S. on its nuclear program as long as Russia plays a role in those talks. A parliamentary delegation of Russia's lower house, which returned from a recent trip to North Korea, said the North expressed its intent for dialogue with the U.S. The Russian lawmakers said that when they expressed criticism of the North's recent Hwasong-15 intercontinental ballistic missile launch, North Korean officials said they were forced to demonstrate its capability in response to U.S. threats.

Parties to Resume Negotiations on Budget Bill

Rival parties will resume negotiations on Monday to narrow differences on next year's budget plan, with the legal deadline for the budget bill passed Saturday. If the parties reach an agreement, they will hold a plenary parliamentary session on Monday afternoon to pass the delayed bill. The most contentious point is known to be the government’s scheme to hire more public workers next year. Opposition parties are calling for a sharp cut in the government's plan to create12-thousand positions for public servants, but the ruling Democratic Party is insisting it cannot approve below ten-thousand-500.

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

Moon's approval rating drops amid N. Korean provocation

President Moon Jae-in's approval rating dropped from a week earlier last week, a survey showed Monday, amid renewed security concerns prompted by North Korea's latest missile provocation. In a weekly survey conducted by Realmeter, Moon's approval rating came to 71.5 percent, down 1.5 percentage points from a week earlier. The latest poll involved 2,519 adults throughout the nation. It had a margin of error of 2.0 percentage points and a confidence level of 95 percent.

S. Korea, U.S. begin massive air combat drills

South Korea and the United States kicked off a major air force exercise here Monday against North Korea's threats, with two dozen U.S. stealth jets mobilized. The five-day Vigilant ACE (air combat exercise) comes less than a week after the North fired a new intercontinental ballistic missile (ICBM) and declared the completion of its "nuclear force." The annual training has drawn keen media attention, although it was scheduled before the provocation. It's known as the largest-ever combined air force drill between the allies, involving more than 230 warplanes and around 12,000 personnel.

S. Korean Lee Sang-hwa earns third silver in Speed Skating World Cup South Korean speed skater Lee Sang-hwa has collected her third silver medal of the current World Cup season, watching her Japanese rival Nao Kodaira remain undefeated. Lee finished second to Kodaira in the women's 500 meters in the third leg of the International Skating Union (ISU) World Cup Speed Skating in Calgary, Canada, on Sunday (local time). With a time of 36.86 seconds, Lee finished 0.33 second behind Kodaira, who broke her personal best with 36.53 seconds to win her fifth consecutive World Cup 500m race this season.

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

Rescue workers to resume search for two missing in deadly capsizing of fishing boat

Rescue workers were to resume their search Monday for two people missing in the deadly capsizing of a fishing boat off the west coast of Incheon a day earlier that claimed the lives of 13 people. The accident happened Sunday morning when the 9.77 ton recreational fishing vessel Seonchang-1, carrying two crew members and 20 anglers, overturned after hitting the 336-ton Myeongjin-15 tanker in Yellow Sea waters near Yeongheung Island.

Foreign ownership of Korean land inches up 0.3% in H1

Foreign ownership of South Korean land slightly expanded in the first half of 2017 from last year, the government said Monday. The amount of land owned by foreign entities came to 234.16 million square meters as of end-June, 600,000 square meters, or 0.3 percent up from end-2016, according to the Ministry of Land, Infrastructure and Transport. The rate of increase has been slowing compared with last year, after surging 6 percent and 9.6 percent on-year in 2014 and 2015, respectively. In 2016, the increase rate stood at 2.3 percent.

Tesla builds world’ biggest battery in Australian Outback

The world’s biggest lithium-ion battery has plugged into an Australian state grid, an official said Friday, easily delivering on Tesla Inc. chief executive Elon Musk’s 100-day guarantee. Musk promised to build the 100-megawatt battery within 100 days of the contracts being signed at the end of September or hand it over to the South Australia state government for free. South Australia Premier Jay Weatherill announced Friday the battery began dispatching power into the state grid on Thursday afternoon, providing 70 megawatts as temperatures rose above 30 degrees Celsius.

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

Tesla builds world’ biggest battery in Australian Outback

Rainy, cloudy skies for the start of the week

A strong cold front sweeping across the nation will cause the temperature to drop Monday morning. Temperatures will dip to minus 2 degrees Celsius in Seoul, minus 2 C in Chuncheon, 2 C in Daejeon, 4 C in Gwangju and 7C in Busan. Daytime highs will rebound midday with the temperatures ranging 1 C to 12 C nationwide, about 4 C to 5 C lower than Sunday.

Korean Lee Sang-hwa earns third silver in Speed Skating World Cup

South Korean speed skater Lee Sang-hwa has collected her third silver medal of the current World Cup season, watching her Japanese rival Nao Kodaira remain undefeated.Lee finished second to Kodaira in the women's 500 meters in the third leg of the International Skating Union World Cup Speed Skating in Calgary, Canada, on Sunday (local time). With a time of 36.86 seconds, Lee finished 0.33 second behind Kodaira, who broke her personal best with 36.53 seconds to win her fifth consecutive World Cup 500m race this season.

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

Mueller’s special probe gets closer to Trump’s inner circle

“Special counsel Robert Mueller’s investigation into Russian meddling in the U.S election has just penetrated the White House gates.”

It was an assessment by Politico, an American political journalism, on Friday (local time) after U.S. President Donald Trump’s former national security adviser Michael Flynn told investigators that a senior official of the president’s transition team “directed him to make contact with the Russians.” CNN and many other media outlets are putting Jared Kushner, President Trump’s son-in-law and a senior presidential advisor, in the spotlight as the potential senior. The special investigation into Trump-Russia collusion has now struck at the heart of the White House.

N. Korea shows willingness for talks with a string attached

North Korea has reportedly expressed willingness to come back to the negotiating table in a shifted attitude following its declaration of successfully becoming a “nuclear state.” Yet, the hermit kingdom is still said to have demanded that it should be first recognized as a nuclear power before resuming long-awaited dialogue with the United States, Russia’s news agency TASS reported Friday (local time). A parliamentary delegation of Russia's lower house, the State Duma, paid a four-day visit to Pyongyang from last Friday, and met with the North Korean leadership including Kim Young Nam, president of the Presidium of the Supreme People's Assembly of North Korea, and Ri Su Yong, vice chairman for International Affairs of the Workers’ Party.

‘Bio and autonomous cars are treasure troves of data,’ says SSIC CEO

“Bio and future cars will be the treasure house of data,” said Sohn Young-kwon, president of Samsung Strategy and Innovation Center (SSIC) who has been recently tasked with discovering new sources of prosperity for the company’s future, at a leading startup event in Europe. “The challenge faced by Samsung Electronics is to transform itself from a product-driven company to a data-driven company,” he added, stressing the importance of data at his first public appearance as the current role and thereby drawing attention to Samsung Electronics’ future strat

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

Risk of War with N.Korea Growing, Says U.S. Security Advisor

The potential for war with North Korea is "increasing every day," White House national security adviser H.R. McMaster said Saturday. The warning follows the North's test launch of a Hwasong-15 intercontinental ballistic missile last week.

Speaking at the Reagan National Defense Forum in Simi Valley, California, McMaster was asked if the North's latest missile launch had escalated the possibility of war. "I think it's increasing every day, which means that we are in a race, really, we are in a race to be able to solve this problem," he said.

Tokyo to Conduct Nuke Evacuation Drills from Next Year

Tokyo will conduct nuclear evacuation drills to prepare for nuclear and missile attacks from North Korea from next year.

The Japanese government plans to conduct evacuation drills for residents in central Tokyo between January and March next year to prepare for a ballistic missile attack, the Sankei Shimbun reported Sunday.

This will be the first time a highly populated metropolitan area like Tokyo conducts such a drill because the Japanese government has so far avoided alarming the populace unnecessarily.

N.Korea's New Missile 'Can Strike All of U.S.'

North Korea on Wednesday boasted that the intercontinental ballistic missile it launched into the East Sea in the small hours can strike "all of the U.S."

In a statement read on state TV, the regime said it successfully tested a Hwasong-15 ICBM. "Now we have finally realized the great historic cause of completing the state nuclear force, the cause of building a rocket power," it quoted leader Kim Jong-un as saying. The missile, fired at a steep angle, reached an altitude of 4,475 km. Scientists said if it had been launched on a normal trajectory, it would have flown about 13,000 km, which would bring the entire U.S. mainland within range.

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

Legacy of 1997 Asian financial crisis pushes young people into public sector

“Shim Sang-min,” 31, applied last July for jobs as a full-time insurance company employee and an intern at a public institution. He successfully passed the screening process for both. The public institution job stipulated he had to work as an intern for three months before being converted to regular status, with a possibility that he could be eliminated. Indeed, one of the seven interns hired with him was cut. Even if he did gain a permanent position, his salary would be two-thirds what the insurance company paid, and he would have to travel down to the provinces, where he had no connections. Yet Sim opted for the public institution.

Confusion over Defense Minister’s comments about a maritime blockade of North Korea

Interest is growing about the reason for remarks made on Dec. 1 by South Korean Defense Minister Song Young-moo, who said that Seoul is positively considering a maritime blockade or maritime interdiction, which are two additional sanctions against North Korea that have been mentioned by the US. The response from the Blue House is that Song’s confusion of “maritime blockade” and “maritime interdiction” was a “gaffe” or a “private opinion.” But the confusion that Song has stirred up is getting even more attention because the administration of South Korean President Moon Jae-in may actually consider participating in such measures if the US were to request it.

Spanish artist’s illustrations of Korean life prove immensely popular

Each picture is a Eureka moment. The pictures pose blunt questions about issues that we Koreans all know about but are reluctant to examine, such as politicians betraying democracy, businesspeople exploiting their workers’ passion, men being violent toward women and a society in which inequality begins at birth. The pictures remind us of things we have blithely disregarded. As I flip through the pictures, each one is gratifying, while also leaving a bad taste in my mouth. This is because of the captions, which cut to the heart of a society rife with unending competition, consumerism and sexual discrimination.

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

Fishing boat hits oil tanker, killing 13

A fishing boat collided with an oil tanker in the waters off Incheon on Sunday morning, killing 13 people out of the 22 aboard the smaller vessel.

Two people, including the 70-year-old captain of the fishing boat, surnamed Oh, are still missing as of press time Sunday. Authorities said the two vessels, a 9.77-ton fishing boat and a 336-ton oil tanker, collided on the waters south of Yeongheung Bridge which connects Yeongheung Island to Seonjae Island located in the waters southwest of Incheon around 6:09 a.m.

With new leadership, KAI looks to the future

SACHEON, South Gyeongsang - Korea Aerospace Industries, the country’s largest defense company, is preparing to move forward after being embroiled in a number of corruption cases, which led to the indictment of its former CEO. After the Moon Jae-in administration took office in May with vows to eradicate corruption in the defense industry, KAI became the first target to be raided. In the process, 12 executives, including former CEO Ha Sung-yong, were indicted on corruption charges, including embezzlement and unfair hiring.

U.S. firms take aim at local chipmakers

The local computer chip industry is on alert as the Trump government has shifted its targets towards Korea’s No. 1 export, semiconductors. The pressure from the Trump administration against Korea’s semiconductors came a week after the U.S. International Trade Commission (ITC) proposed imposing a tougher trade barrier against imported Korean washing machines. The U.S. federal trade agency on Nov. 28 decided to investigate potential patent infringement on memory module components developed by Korea’s SK Hynix subsidiaries including SK Hynix America as well as SK Hynix Memory Solutions in San Jose.

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

[NK Launch of Hwasong-15 Missile] Pyongyang Expected to Turn Away from Nuclear Weapons and Turn Toward the Economy

North Korea, which declared full nuclear armament after launching Hwasong-15, an intercontinental ballistic missile, seems to have its eyes on building its economy and easing sanctions as its next target. Since the hermit state declared that it has finished developing nuclear weapons and missiles, one half of its policy to pursue both nuclear weapons and economic growth, Pyongyang will now have to turn toward the goal of building an economic powerhouse. This has experts suggesting that North Korea will turn away from nuclear related issues and make gestures to appease the international community while demanding the lift of sanctions and the recognition as a nuclear power.

End of the “Ultra-Low Interest Party”: Bank of Korea to Raise Base Rate to 1.5%

On November 30, the Bank of Korea (BOK) raised the base rate 0.25% marking the end of an era of the lowest interest rate. The central bank raised the base rate for the first time in six years and five months, since June 2011. The Bank of Korea has joined the move to raise the base rate by the central banks of major countries, and this is accepted as a sign that it will change its management of the domestic economy, which had been dependent on the low interest rate along with the Park Geun-hye government's real estate stimulus package.

South Korea Nuclear Dunford

Joint Chiefs Chairman Gen. Joseph Dunford speaks at a news conference at U.S. Army Garrison Yongsan, Seoul, South Korea, Monday, Aug. 14, 2017. The top U.S. military officer is warning during a trip to Seoul that the United States is ready to use the "full range" of its military capabilities to defend itself and its allies from North Korea. A spokesman says Marine Corps Gen. Dunford also told his South Korean counterparts Monday that the North's missiles and nukes threaten the world. (AP Photo/Andrew Harnik)

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

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

As Korea and China are set to improve their relationship that was rocked by the controversy over the Terminal High Altitude Area Defense (THAAD) anti-ballistic missile system, Korea's tourism and duty-free shopping industries are raising their hopes of better days. The tourism industry believes that the Chinese government's group tour ban to Korea would be relaxed soon. A travel agency in Hebei posted an Internet ad recently for a group tour program to Korea in November at the price of 1,480 yuan(US$223). China's largest online travel agency trip also put out group tour programs 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.

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

N. Korea achieves significant improvement in missile technology: expert

South Korean President Moon Jae-in and other skeptics cast doubt about a technical breakthrough in North Korea's ability to produce a complete intercontinental ballistic missile capable of carrying a nuclear warhead to the United States.

However, this week's ICBM test proved North Korea's missile technology has improved significantly, according to Michael Elleman, a missile expert in the International Institute for Strategic Studies (IISS).

Samsung to screen strange full-length film starring washing machine

Samsung is up for one of its greatest challenge in its marketing as it will screen a bizarre 66-minute-long commercial film to promote its washing machine "QuickDrive" in Britain.

While other electronics makers such as LG, Apple and Sony have tried to attract global consumers with their eye-catching TV and cinema advertisements, Samsung kept things relatively cool, sticking to the old-school basic principles of advertising.

Parliament refuses to legalize chemical castration for secret camera offenders

Sex offenders using hidden cameras will not be subject to forced chemical castration used for convicted rapists under a revised law passed by South Korea's parliament as legislators attached weight to basic human rights.

The cabinet has proposed a revised bill to expand the use of hormone treatment to offenders accused of taking furtive pictures with secret cameras. The new law would allow chemical castration for attempted burglar rape and sex crimes targeting child and teenagers.

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

Korea’s National Pension Service to introduce stewardship code in 2018

South Korea’s biggest institutional investor National Pension Service (NPS) will adopt the so-called stewardship code, a guideline that encourages institutional investors to exercise their voting rights and be more actively involved corporate management of companies they invest in, next year.

The decision is expected to persuade more local institutional investors to adopt a similar guideline, a move that should help ease the “Korea Discount” that has led listed Korean companies to underperform their global peers due to low dividend payouts and poor corporate governance.

S. Korea’s venture investment expected to reach record high of $2.1 bn this year

The total volume of investment in South Korean startup ventures this year is expected to set a new record high of 2.3 trillion won ($2.1 billion) as the new liberal government under President Moon Jae-in is accelerating its startup incubating program to create jobs. According to Ministry of SMEs and Startups on Saturday, the investment in startups amounted to 1.838 trillion won in the January-October period this year, up 9.8 percent from a year ago.

CJ Logistics scales up efforts to expand presence in India

South Korea’s largest parcel delivery service company CJ Logistics Corp. plans to scale and speed up its efforts to make inroads into the Indian market through its subsidiary CJ Darcl., which is 50 percent owned by the Korean courier. According to CJ Logistics on Sunday, CJ Darcl CEO Puneet Agarwal pledged to double its sales to 700 billion won ($644 million) by 2021 to be the largest logistics business in India at Korea-India Business Partnership Forum 2017 held on Friday at New Delhi, India.

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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