The Korean daily media headlines and humor
The Korean daily media headlines and humor
  • Lee Kyung-sik
  • 승인 2018.02.22 10:39
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The Korean daily media headlines and humor

Thursday, February 22, 2018

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


Lee Kyung-sik


Korea Post Media


Round-up of important news stories from major Korean dailies today:

The Korea Post media ( in English, ( in Korean.

Short tracker becomes S. Korea's 1st double gold medalist; curlers reach semifinals

South Korean short track speed skater Choi Min-jeong became the host country's first double gold medalist at the PyeongChang Winter Olympics on Tuesday, and took a step closer to a rare milestone.Choi helped South Korea to the gold medal in the women's 3,000-meter relay, at Gangneung Ice Arena, giving the country its fifth Olympic relay title.Choi, who had earlier won the 1,500m title, can become only the second South Korean woman to win at least three gold medals at a single Winter Olympics. Jin Sun-yu first accomplished that feat at Torino 2006, winning the 1,000m, 1,500m and 3,000m relay gold medals. The women's 1,000m final here is Thursday The women's 3,000m relay team won gold over Italy. And with Canada and China both penalized in the A Final, the Netherlands, which won the B Final for countries who lose in the semis, moved up to the bronze medal.

‘Ethiopia expected to make 11% economic growth this year’

The Federal Democratic Republic of Ethiopia is obviously in good hands and is in for a rapid economic development and remarkable improvement in all spheres of society in the country. This became immediately apparent at a recent interview with Ambassador Shiferaw Jarso Tedecha of Ethiopia in Seoul conducted by The Korea Post media, publisher of 3 English and 2 Korean-language news media established 33 years ago in 1985.Speaking at the exclusive interview with Chairman Lee Kyung-sik of The Korea Post, Ambassador Shiferaw said, without a sign of hesitation, “The economic growth in my country is expected to stay high and make an 11 percent growth this year, supported by continued recovery from droughts and export expansion as new manufacturing facilities and infrastructure come online—offsetting the potentially dampening impact of restrictive macroeconomic policies.”

Yeongam County Mayor Jeon honored

Jeon Dong-pyeong, mayor of Yeongnam County in South Jeolla Province, has won the coveted “2018 Korea CEO Leadership Award” for two years in a row, which proves his dedication to innovative leadership in local administration. He was awarded the honor from the leading national daily, Joong-Ang Ilbo, on Dec. 21, 2017 at the Millennium Seoul Hilton with a number of government officials and journalists attending.The CEO Leadership Award is presented to “those who make great contributions to improving local communities by demonstrating exceptional leadership based on innovative management.” The award-presentation ceremony takes place in December every year. During three years and six months after being elected as the Yeongam County chief, Mayor Jeon has recorded more results than before while getting the 60,000 Yeongam residents united firmly for the goal of creating a prosperous Yeongam County.” Of note, he has accomplished noteworthy results in almost all sectors including the four core development fields.



Prosecution Concludes Ex-President Lee is Owner of DAS

The prosecution has concluded that former President Lee Myung-bak is the owner of auto parts company DAS and a large plot of land in southern Seoul. A probe team at the Seoul Central District Prosecutors' Office reportedly stated the conclusion in its arrest warrant request for Cheonggye Foundation secretary general Lee Byung-mo, who was arrested last Thursday. It's the first time the prosecution explicitly stated the former president as the real owner of DAS in arrest warrants. Lee Byung-mo, who is known to have managed the ex-president's assets and property, recently testified that he had lied to the prosecution in 2008 about delivering the proceeds from the sale of land in Dogok-dong to the ex-president's brother Lee Sang-eun.The prosecution also found that the former president regularly took money from the proceeds from the sale of the Dogok-dong land for years until the 2007 presidential election.

S. Korean Skaters Win Silver in Men's Team Pursuit

South Korean speed skaters have won the host country's ninth medal of the PyeongChang Winter Games, taking the silver in the men's team pursuit event. In the final race at the Gangneung Oval Wednesday night, the Norwegian squad came in at three-minutes 37-point-32 seconds to become the new Olympic champion.The European team set a new Olympic record at three-minutes 37-point-08 seconds in the semifinal race.The South Korean squad of Lee Seung-hoon, Chung Jae-won and Kim Min-seok clocked in at three-minutes 38-point-52 seconds for silver. The Netherlands won bronze, defeating New Zealand.The latest silver from the team pursuit event is 29-year old Lee's fourth Olympic medal and 18-year old Kim's second following a bronze in the one-thousand 500-meter event last week. The victory also made 16-year old Chung the youngest South Korean speed skater to win an Olympic medal.

Ivanka Trump to Visit S. Korea Friday, Have Dinner with President Moon

U.S. President Donald Trump's daughter, Ivanka, will visit South Korea on Friday, leading the American delegation to the closing ceremony of the PyeongChang Winter Olympics on Sunday.A senior U.S. official said Wednesday that Ivanka Trump, who serves as an adviser to the president, will depart Thursday for a four-day trip to South Korea.She will arrive in Seoul on Friday and have dinner with South Korean President Moon Jae-in at the presidential office.The U.S. official said that she does not have plans to meet with North Korean government officials or defectors during the trip.


Yonhap (

Ivanka Trump to lead U.S. delegation to closing of PyeongChang Olympics

U.S. President Donald Trump's daughter, Ivanka, will lead her country's delegation to the closing ceremony of the PyeongChang Winter Olympics Sunday, U.S. officials said.Ivanka Trump, who serves as an adviser to the president, will depart Thursday and arrive the following day in South Korea, where she is scheduled to have dinner the same day with South Korean President Moon Jae-in at his office, Cheong Wa Dae, the senior U.S. government officials said during a background briefing Wednesday.Her visit will be an opportunity to cheer American athletes competing in the Games and reaffirm the strength of the South Korea-U.S. alliance, they said. She does not have plans to meet with North Korean government officials or defectors during the trip, they added.

S. Korea wins silver in men's team pursuit speed skating

South Korea won silver in the PyeongChang Winter Games men's team pursuit speed skating on Wednesday, finishing runner-up in the second consecutive Olympics.The trio of Lee Seung-hoon, Kim Min-seok and Chung Jae-won timed 3:38.52 in the eight-lap race, losing to the Norwegian team by 1.2 seconds at the team pursuit finals held at the Gangneung Oval.The bronze medal went to the Netherlands who beat New Zealand in the B finals.South Korea won silver in the three-on-three race at Sochi 2014, defeated by the Netherlands. Leader Lee had his fourth Olympic medal -- one gold and three silver -- in speed skating, more than his teammate Lee Sang-hwa who has three, Japanese Nao Kodaira and other Asian skaters.He also became the first Asian male skater to earn Olympic medals in the three straight games since Vancouver 2010, while 16-year old Chung Jae-won became the youngest South Korean medalist in speed skating.The Korean squad, a mixture of a veteran and two teenagers, was on a roll. It recorded the fastest time in the quarterfinals and beat New Zealand in the semifinals.

Hyundai E&C wins 414 bln won reclamation deal in Singapore

Hyundai Engineering & Construction Co., one of South Korea's leading builders, said Thursday that it has won a 414 billion won (US$390 million) reclamation project in Singapore.For the Tuas Terminal Phase 2 project by the Maritime and Port Authority of Singapore, Hyundai E&C will reclaim land from the sea in the southern sector. The land will be used to build a pier, port terminal and supplementary facilities by March 7, 2027, the company said in a regulatory filing.


The Korea Herald (

S. Korea wins second straight silver in men’s team pursuit

South Korea grasped the silver medal in the men’s speed skating team pursuit event on Wednesday, marking the country’s third silver medal and ninth medal in total in this year’s Winter Games. The four-member team consisting of Lee Seung-hoon, Kim Min-seok, Chung Jae-won, and Joo Hyong-jun timed 3:38.52 at Gangneung Oval in the eastern sub-host city of the PyeongChang Winter Olympics.The team was led by veteran Lee and followed by Kim and Chung, while Joo stood by on the bench during the eight-lap race.

Tension escalates as GM raises stake with gov.

A day after a surprise visit to the parliament, General Motors moved fast to find a compromise with the Seoul government in the form of a trillion-won support plan.The company suggested a meeting with the trade minister this week, amid growing speculation over the US carmaker’s plans.The Ministry of Trade, Industry and Energy confirmed Wednesday morning that Barry Engle, president of GM International, has requested a meeting with Minister Baek Ung-kyu before returning to the US on Thursday. But the meeting was called off, the ministry said later in the evening, citing his official trip to Busan. Vice Minister Lee In-ho will meet Engle instead in Seoul, it added. Earlier in the day, Minister Baek demanded the US carmaker on Wednesday to bring long-term plans both on investments and labor management on the table first.

Ivanka Trump to lead US delegation to closing of PyeongChang Olympics

US President Donald Trump's daughter, Ivanka, will lead her country's delegation to the closing ceremony of the PyeongChang Winter Olympics Sunday, US officials said.Ivanka Trump, who serves as an adviser to the president, will depart Thursday and arrive the following day in South Korea, where she is scheduled to have dinner the same day with South Korean President Moon Jae-in at his office, Cheong Wa Dae, the senior US government officials said during a background briefing Wednesday.Her visit will be an opportunity to cheer American athletes competing in the Games and reaffirm the strength of the South Korea-US alliance, they said. She does not have plans to meet with North Korean government officials or defectors during the trip, they added.


The Korea Times (

Evangelist Rev. Billy Graham dies

U.S. evangelist Billy Graham, who counseled presidents and preached to millions across the world from his native North Carolina to communist North Korea during his 70 years in the pulpit, died on Wednesday at the age of 99, a spokesman said.Graham died at 8 a.m. EST (1300 GMT) at his home in Montreat, North Carolina, according to Jeremy Blume, a spokesman for the Billy Graham Evangelistic Association.According to his ministry, he preached Christianity to more people than anyone else in history, reaching hundreds of millions of people either in person or via TV and satellite links.Graham became the de facto White House chaplain to several U.S. presidents, most famously Richard Nixon. He also met with scores of world leaders and was the first noted evangelist to take his message behind the Iron Curtain.

GM offers $2.8 billion investment in Korea over 10 years

General Motors (GM) has proposed investing $2.8 billion in Korea over the next 10 years, but is pressuring the government to provide support for the ailing GM Korea.In a meeting with Korean lawmakers Tuesday, GM International President Barry Engle said that the company will allocate two new car models - an SUV and crossover utility vehicle - to its assembly lines in Bupyeong and Changwon. GM has four plants in Korea, but it announced plans to shut down its underutilized Gunsan factory last week as part of global restructuring. Engle also said that it would make efforts to maintain an annual production from GM Korea at 500,000 vehicles. GM proposed plans to fix its troubled Korean unit, but is pressuring the government to provide financial support. According to lawmakers who participated in the meeting, GM proposed a debt-to-equity conversion plan, which will turn GM Korea's $2.7 billion loan from headquarters into equity. This will lessen the burden on GM Korea which has been paying a huge amount of interest.

South Korea wins silver in men's team pursuit

Korea's speed skaters clinched the silver medal in the men's long track team pursuit event at the PyeongChang Olympics, Wednesday.In a showdown with Norway, the Korean squad of Lee Seung-hoon, Kim Min-seok and Chung Jae-won clocked three minutes and 38.52 seconds, 1.2 seconds behind the mighty Norwegian squad of Havard Bokko, Simen Spieler Nilsen and Sverre Lunde Pedersen at the Gangneung Oval. Defending champion the Netherlands claimed the bronze medal.In the semifinals the same day, Korea pulled off a come-from-behind win against New Zealand while Norway won over the Netherlands. In the eight-lap race, three skaters from the two teams begin at opposite sides of the oval and the final times are measured when the third skater crosses the finish line.


Chosun Ilbo (

No More Delays for Korea-U.S. Drills After Paralympics

The joint annual South Korea-U.S. drills are expected to resume right after the Winter Paralympics in Pyeongchang.Defense Minister Song Young-moo told the National Assembly's defense committee on Tuesday the two countries' defense chiefs "will make an announcement before April, considering that the Paralympics will close on March 18." Song explained why he has kept conspicuously silent on the drills so far. "I agreed with U.S. Defense Secretary James Mattis to neither confirm nor deny until the Paralympics close," he said.Unification Minister Cho Myoung-gyon also told the National Assembly, "I understand that the two countries are discussing resumption of the joint drills."Cheong Wa Dae has kept quiet on the matter since January, when it agreed with Washington not to stage the joint exercises during the Olympics. This sparked some speculation that the Moon Jae-in administration wanted to postpone them indefinitely amid a North Korean charm offensive.

Americans Consider N.Korea 'Top Enemy'

North Korea tops the list of enemies of the U.S. in the minds of Americans, a recent poll suggest. In a Gallup poll published Monday, 51 percent of respondents named North Korea as the "greatest enemy" of the U.S. Next came Russia (19 percent), China (11 percent), and Iran (seven percent). The survey was conducted among 1,044 adults on Feb. 1-10. The North also topped the list in a similar survey in 2016 but with a mere 16 percent of respondents, similar to Russia (15 percent), Iran (14 percent), and China (12 percent). The new percentage "was the highest proportion of responses any country had received" since 2001 when "38 percent named Iraq as the greatest U.S. enemy," Gallup said.

Park's Final Hearing Scheduled for Feb. 27

The final hearing in ex-President Park Geun-hye's trial has been set for Feb. 27, the Seoul Central District Court said Tuesday, 10 months after she was indicted for corruption and abuse of office. The deadline for Park's detention on remand will expire on April 16 and the court hopes to wrap up the trial before then.The final hearing will see prosecutors recommending punishment, with the actual sentencing expected about month later due to the large number of charges -- 21 at the latest count -- and the complexity of the case.Park's partner in crime Choi Soon-sil, who has already been sentenced to 20 years, was scheduled to appear as a witness in Tuesday's hearing but did not show up.


HanKyoReh Shinmun (

Trump’s trade measures threaten jobs of South Korean workers

Amid a daily onslaught of trade pressure from US President Donald Trump across a full range of South Korean industries – including steel, washing machines and automobiles – South Korean workers in export industries to the US find themselves forced to combat Trump, rather than their individual employers, in order to save their jobs. In effect, Trump has become a “phantom negotiating counterpart” for these workers.During a meeting with reporters on Feb. 19, South Korean Minister of Trade, Industry and Energy Paik Un-gyu brought up the US Commerce Department’s report on steel’s impact on security based on Section 232 of the Trade Expansion Act. “[The US] claims this is about security, but there’s an economic side, too. The US intends to regulate the 13.3 million tons of steel imported into the American market each year to increase the overall utilization rate of the US steel industry from the current level of 72% to 80%,” Paik said.

Trade issues between South Korea and US threaten to scuttle KORUS FTA negotiations

The emergence of a number of trade issues involving South Korea and the US – including a plan being mulled over by the US to slap tariffs on South Korean steel and GM Korea’s threat to close a factory in South Korea – is creating uncertainty about the future of the Korea-US Free Trade Agreement (KORUS FTA), just before the third round of negotiations aimed at revising the agreement.South Korean trade officials and related sources believe that a US government report on steel (based on Section 232 of the Trade Expansion Act) and the fate of the GM Korea factory in Gunsan, North Jeolla Province, are likely to come up during the third round of KORUS FTA negotiations, which will be held in the US at the end of this month. South Korean President Moon Jae-in’s orders on Feb. 19 for South Korean trade officials to “take issue with violations of the KORUS FTA and their unfairness” during the negotiations leaves no doubt that the steel tariffs and the GM Korea factory will be addressed.

No decision yet on when US-South Korean joint military exercises will be resumed

Addressing the question of when postponed joint South Korea-US military exercises will be resumed, Minister of National Defense Song Yong-moo said on Feb. 20 that the two sides’ defense ministers would “make a precise announcement after the Paralympics end on Mar. 18 and before April.”Song’s explanation came during a hearing of the National Assembly National Defense Committee that day in response to independent lawmaker Lee Jung-hyun’s question on when the exercises would be carried out.“We have postponed the exercises in keeping with the Olympic spirit,” Song explained.“South Korea and the US have decided to maintain the current stance until the Paralympics end and the exercises begin, and to adopt an NCND (neither confirm nor deny) approach until the announcement on what to do afterwards,” he continued.


JoongAng Ilbo (

Korea takes home silver in men’s team pursuit

Korea won silver in the men’s team pursuit, clocking 3 minutes and 38.52 seconds at the Gangneung Oval in Gangwon on Wednesday. Starting the first lap 0.75 of a second behind Norway, Korea made an attempt to catch up in the middle of the race and briefly held the lead after the third lap. In the final three laps Norway took back the lead, finishing the race in 3 minutes and 37.32 seconds.By finishing the race 1.20 seconds behind Norway, Korea won its second consecutive silver in the race. Prior to the final, Korea raced New Zealand in the semifinals, where a last-minute sprint in the final lap allowed them to finish 0.71 of a second ahead

Pence almost met Kim, says Post

The Blue House declined to confirm a media report Wednesday that it mediated a meeting between U.S. Vice President Mike Pence and Kim Yo-jong, sister of North Korean leader Kim Jong-un, after the opening ceremony of the Olympics, which collapsed after the North Koreans pulled out at the last minute. “There is nothing I can confirm right now,” Presidential Chief of Staff Im Jong-seok said before lawmakers on Wednesday after he was asked about a Washington Post report that Pence was set to meet with Kim and nominal head of state Kim Yong-nam on Feb. 10, but the North canceled the meeting just two hours before it was supposed to begin. At a hearing of the House Steering Committee of the National Assembly, Im said the Blue House couldn’t comment. “Please understand that I cannot tell everything about the ongoing talks between the two Koreas and close cooperation between South Korea and the United States,” he said. “Right now, there are not many things on the report that I can comment on.”

Lotte chairman resigns from holding company

Lotte Chairman Shin Dong-bin, who was placed behind bars on Feb. 13 on bribery charges, stepped down as co-CEO of Lotte Holdings, a Japan-based holding company of the Korean conglomerate, following a board meeting’s approval on Wednesday.Given that the Japanese firm indirectly controls Lotte Group’s Korean holding company, Lotte Corporation, it is feared that his resignation from the post, which he had volunteered earlier, may amplify the Japanese unit’s influence over the Korean conglomerate’s management and impede various upcoming business projects, including the listing of Hotel Lotte.The board members agreed to let Shin retain his post as vice chairman while Takayuki Tsukuda, who had assumed the co-CEO position with Shin, will be heading the Japanese firm by himself for the time being.


The KyungHyang Shinmun (

GM Threatens to Shut Down Plants in Bupyeong and Changwon if Government Refuses Support

Barry Engle, president of overseas business at General Motors (GM) met with ruling and opposition lawmakers at the National Assembly on February 20 and shared plans for the management of GM Korea. It was the first public action by the company after unilaterally announcing the shut down of the company's Gunsan plant a week ago. Engle mentioned the Gunsan plant and said that it was difficult to generate profits, for less than 20% of the plant had been in operation for several years. He also said that the company planned to allocate the production of two new models to the plants in Buyeong and Changwon and produce 500,000 vehicles annually, but added that this would require government support. In short, GM would not overturn its decision to close down the Gunsan plant, but without government support, the company could not guarantee the future of the Bupyeong and Changwon plants, either. In fact, GM made it clear that the company restructured the Gunsan plant as a means to improve the management of GM Korea. General Motors practically threatened that the fate of the two other factories could be at stake if the government did not provide support, following its unilateral decision to shut down the Gunsan plant.

President Moon Tries to Resolve a Trade Issue which the U.S. Should Resolve

On February 19, President Moon Jae-in mentioned the trade pressure by the United States and said, "We will fairly and decisively respond to unreasonable protectionism by taking the case to the World Trade Organization (WTO) and by checking to see if there are any violations of the free trade agreement (FTA) between South Korea and the U.S." He added, "I ask our officials to raise an issue with any unfairness in the negotiations to revise the South Korea-U.S. FTA." This is the first time that the president has voiced his thoughts on the repeated trade attacks by Washington. This shows that the president takes the situation seriously. In fact, the U.S. has continued to heighten its pressure in trade. It introduced a safeguard imposing the highest 50% tariff on South Korea-manufactured washing machines and solar panels last month, and the U.S. Department of Commerce recommended that President Donald Trump install strong import regulations on our steel exports. President Moon's request for an aggressive response hints at the president's determination to fight fire with fire against President Trump, who is dealing with security and trade as two separate issues. President Moon appears to have determined that if South Korea ignores such offensive approaches by the U.S., they could become a stumbling block for the overall South Korean economy.

Foreign Executives at GM Enjoy War Zone Danger Money in Addition to High Salaries Amidst Piling Deficits

The international service personnel (ISP) working at General Motors (GM) Korea after being dispatched from GM headquarters are under fire for receiving high living expenses in addition to hefty salaries despite continued losses at the company. On February 19, GM Korea announced that almost a hundred ISP, including the company's president, Kaher Kazem, were dispatched from GM headquarters. Among them sixteen of the executive-level personnel with positions of executive director or higher receive living expenses including rent and education expenses for their children. The related costs are estimated to be an annual 500 million to 1 billion won per person.


AJU Business Daily (

SK Telecom to start operating nationwide IoT wireless network in April

As part of its big plan to cover South Korea with mobile networks dedicated to internet on things (IoT) devices, SK Telecom will start operating a new fourth-generation (4G) network which has lower data speed but costs less.SK Telecom, the country's top mobile carrier, said Wednesday that it would start "LTE CatM1", a new IoT network service, in April. The company is already covering most of South Korea with "LoRa", a long range, low power wireless platform network, set up in 2016.The company promised to operate its IoT network separately in a two-track project. "We plan to provide every service required by the future IoT environment to lead the super-connected era," an SK Telecom official told Aju News.IoT devices are the hottest subject in the global IT industry. Tech companies competitively release devices including home appliances, AI voice assistant speakers, trackers and wearables to gain its share in the market. Some connected cars, currently the most spotlighted future technology, rely on low-speed mobile networks to send and receive on-road conditions and information.

Hockey players bond over Oreo McFlurries at breakfast

When asked on Wednesday to recount her favorite memory of having been with North Korean teammates at the Pyeongchang Winter Olympics, South Korean forward Randi Heesoo Griffin didn't have to think for long."In the dining hall (at the Olympic Village) two days ago, I saw the North Koreans in lineup at McDonald's and I was also in line at McDonald's," Griffin said at a press conference at Team Korea House in Gangneung, breaking into a grin. "They were getting Oreo McFlurries for breakfast. We all laughed about that and had McFlurries together for breakfast."Griffin was one of four South Korean players at the press conference, held a day after the Olympic tournament ended for the joint Korean team. The 23 South Korean players were joined by 12 North Koreans only a couple of weeks before Pyeongchang 2018, and throughout the competition, just how the players from the two sides would get along off the ice drew far more interest than how they would actually play together on the ice.

SK Innovation discovers oil in South China Sea

SK Innovation, a major oil company in South Korea, announced the discovery of crude oil Wednesday in a block in the South China Sea. This marked the company's first discovery in the area.SK Innovation, a subsidiary of South Korea's SK group, said that during its test production at the PRMB (Pearl River Mouth Basin) block 17/03, it was able to produce up to 3,750 barrels of oil per day. PRBM is an extensional sedimentary basin the northern part of the South China Sea.This marked SK Innovation's first oil discovery in the area. In December last year, the company drilled its first exploration well in PRMB block 17/03. It plans to drill follow-up appraisal wells to assess reserves and commerciality of the project.SK Innovation and China National Offshore Oil Corporation (CNOOC) have signed a series of contracts to develop blocks in the South China Sea. Once the commerciality of the project in PRMB is secured, SK Innovation will use it as a platform for growth into other areas in the South China Sea.


Maeil Business News Korea (

S. Korea signs FTAs with 5 Central American nations

South Korea struggling against increasing protectionist barriers from the United States and China has made headway on the trade front by inking free trade agreements with five Central American countries.According to Korean Ministry of Trade, Industry and Energy on Wednesday, Korea has officially signed separate bilateral agreements with Costa Rica, El Salvador, Honduras, Nicaragua and Panama after talks of nearly three years. With the addition, Seoul has become a FTA powerhouse with deals across major continents. South Korea currently has 15 free trade deals with 54 countries and regions including the United States, European Union, and China. It has tariff-free pact with countries all across South and North America.

Naver to launch AI-powered search engine service this year

Naver Corp., South Korea’s leading online portal operator, aims to launch a search engine service that provides users customized content using artificial intelligence (AI) technology later this year. At a press conference on Wednesday, Kim Kwang-hyun, who oversees research and development of search engine technology at Naver, unveiled the company’s plan to apply AI technology to Naver’s search engine to provide each individual user more bespoke information, saying that it is time for search engines to jump on the AI bandwagon in the Internet world. Naver has already been managing a customized search function for news and shopping criteria, presenting different content results to users. The Korean portal giant will allow its users who do not wish the online portal operator to analyze their personal data to opt out of the customized search service, Kim said.

SK Innovation discovers oil in South China Sea

South Korea’s top refiner SK Innovation Co. said on Wednesday that it has succeeded in extracting oil from new oil reserves in one of the Pearl River Mouth Basin blocks in the South China Sea. It is the first time for SK Innovation to make oil discovery in the 17/03 block of the area since it drilled a 2,014-meter deep exploration well in December last year, and found a 34.8-meter thick effective oil reservoir. The company successfully mined up to 3,750 barrels of oil a day from the reservoir based on natural pressure from the strata. The latest discovery comes after SK Innovation secured mining operations rights from China’s national oil company for the 17/03 block of the Pearl River Mouth Basin in February 2015. Since then, the Korean refiner has been conducting basic exploration such as geological and seismic surveys in the block. The Korean refiner has also signed production sharing contracts for the 04/20 and 17/08 blocks in the basin.


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