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The Korean daily media headlines and humor

The Korean daily media headlines and humor

Friday, February 23, 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

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

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

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) 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.

I will carry on my father’s spirit of service, but want to diversify my businesses

Youthful fashion designer, Jungdo Kim (the only son of Fashion Maestro Andre Kim) said that he will carry on the spirit of service of his father for the clientele but that he will also try to diversify the range of his fashion business beyond of range of high fashions pursued his father. In 1966, Le Figaro of France called Andre Kim a ‘Magician from the Fairyland.’ After he passed away in 2010, the Andre Kim Fashion House was taken over by his son, Jungdo Kim, who later moved the noted Korean fashion boutique to a nearby building for a larger space. Jungdo wears the same fashion designer’s mark but the color is black in contrast with the all-white trade-mark dress his father used to wear.

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.”

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

'US in Close Consultation with S. Korea on Blacklisted N. Korean Official's Visit'

The U.S. State Department says it is closely consulting with South Korea regarding North Korea's plan to send a high-level delegation led by an official blacklisted under international sanctions. Katina Adams, a spokeswoman for the State Department's Bureau of East Asian and Pacific Affairs, said on Thursday that Washington is in close contact and consultation with Seoul to form a unified front on North Korea.

The spokeswoman added that the U.S. and South Korea are working hard to make the Winter Olympics safe and successful, adding Washington is aware of details of the North Korean delegates who will attend the closing ceremony.North Korea on Thursday notified that it will send an eight-member delegation led by Kim Yong-chol, vice chairman of the Central Committee of the North's ruling Workers' Party.Kim, head of the ruling party’s United Front Department and former chief of the Reconnaissance General Bureau, is known to have orchestrated several attacks on South Korea, including the sinking of the Cheonan warship in 2010, which killed 46 sailors.

S. Korea Wins 1 Silver, 1 Bronze in Men's Short Track 500M

On the 13th day of competitions at the PyeongChang Winter Olympics, South Korea added two medals in the men's short track 500-meter final. In the event held at the Gangneung Ice Arena in the sub-host city of Gangneung on Thursday night, Hwang Dae-heon won the silver with a time of 39-point-854 seconds. His countryman Lim Hyo-jun clocked 39-point-919 seconds to grab the bronze. It's the first time since the 2010 Vancouver Winter Olympics that South Korea has won any medal in the men's short track 500-meter race, an event that has traditionally proved challenging for South Korean skaters. It's also the first time South Korea has won two medals at the same time in the event. China's Wu Dajing won the gold medal with a world record time of 39-point-584 seconds, bringing his nation its first gold of the PyeongChang Games.

Gov't to Announce Job Creation Plan for Youth

The government plans to announce a set of job creation measures for young people around next month, possibly through the use of a supplementary budget. Finance Minister Kim Dong-yeon said in a meeting with reporters at the government complex in Sejong City on Thursday that the government is drafting measures to boost youth employment. He said the government will draw up comprehensive measures, employing various policy means, including fiscal, tax, finance and regulatory measures. The minister said the youth job-creation measures will be focused on small- and mid-sized companies, startups, overseas work and new service areas. He said the measures will seek to ease a mismatch between supply and demand for jobs at SMEs, noting as many as 200-thousand job openings are left unfilled because of it.

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

Ivanka Trump heads to S. Korea amid speculation over N.K. contact

U.S. President Donald Trump's daughter, Ivanka, departed for South Korea Thursday to attend the closing of the PyeongChang Winter Olympics as speculation swirled over her possible contact with North Korean officials during the trip.Ivanka Trump, who serves as a senior adviser to the president, will lead the U.S. delegation to Sunday's closing ceremony, and according to an airline official, boarded a Korean Air flight to Seoul earlier in the day.Hours after the U.S. announced her visit Wednesday, North Korea said it would also send a high-level delegation headed by Kim Yong-chol, vice chairman of the central committee of the ruling Workers' Party of Korea. The White House said in its announcement that the first daughter plans to cheer American athletes competing in the Games and reaffirm the strength of the South Korea-U.S. alliance. She does not plan to meet with North Korean officials or defectors during her four-day stay, it said.Still, the possibility of contact between Ivanka Trump and the North Korean delegation has been raised, especially after it was revealed that U.S. Vice President Mike Pence was to meet with North Korean officials after the Feb. 9 opening ceremony, until the North abruptly pulled out.

S. Korea finishes 4th in men's 5,000m short track relay

South Korea finished fourth in the men's 5,000-meter relay in short track speed skating at the PyeongChang Winter Olympics on Thursday.Lim Hyo-jun lost his balance and fell without contact during Lap 22 of the 45-lap race at Gangneung Ice Arena in Gangneung while South Korea was in the lead in the four-team race. Kwak Yoon-gy quickly made the exchange but the team got lapped by Hungary, Canada and China.South Korea hasn't won gold in the men's 5,000m relay since 2006. The country got gold in 1992 and silver in 1998 and again in 2010. Hungary won the gold medal with an Olympic record time of 6:31.971, followed by China with 6:32.035. Canada won the bronze in 6:32.282, with South Korea finishing nearly 10 full seconds behind in fourth.Lim took the blame squarely on his shoulders for the missed call."Even before the Olympics, we all talked about how we should try to win the gold in the relay, if nothing else," he said. "But we didn't even win a medal because I made the mistake. I am really sorry to my teammates."

Army finds armed soldier after overnight 'disappearance'

South Korea's Army was briefly on alert Friday morning as an armed special forces soldier was unaccounted for.The Army sent a text message to reporters that it had lost contact with the staff sergeant at around 11:55 p.m. Thursday while participating in an exercise in the vicinity of Gwangju, Gyeonggi Province, not far from Seoul.It said he was carrying a rifle and a pistol, although he was apparently without ammunitions.The public notification raised concerns that the soldier may have deserted or gone absent without leave (AWOL), with the Winter Olympics under way in PyeongChang, east of Gwangju.North Korea's delegation, led by Kim Yong-chol, a senior party official believed to have masterminded the 2010 deadly attack on South Korea's Cheonan corvette, is scheduled to attend the closing ceremony of the games on Sunday. U.S. President Donald Trump's daughter, Ivanka, is due at the event as well.

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

Ivanka Trump heads to S. Korea amid speculation over NK contact

US President Donald Trump's daughter, Ivanka, departed for South Korea Thursday to attend the closing of the PyeongChang Winter Olympics as speculation swirled over her possible contact with North Korean officials during the trip.Ivanka Trump, who serves as a senior adviser to the president, will lead the US delegation to Sunday's closing ceremony, and according to an airline official, boarded a Korean Air flight to Seoul earlier in the day.Hours after the US announced her visit Wednesday, North Korea said it would also send a high-level delegation headed by Kim Yong-chol, vice chairman of the central committee of the ruling Workers' Party of Korea.

Short track calamities cost Korea

South Korea had golden expectations going into Thursday evening’s short track speedskating events, but fell short despite earning two medals. The host country won silver and bronze medals in the men’s 500-meter Olympic final in Gangneung, Gangwon Province. China’s Wu Dajing, who had already set a world record in the heats the same evening, broke it again with a 39.584-second time to take gold, China’s first short track medal in this Olympics and its first gold of the games.Hwang Dae-heon won silver in 39.854 seconds, while Lim Hyo-jun -- a PyeongChang gold medalist in the 1,500 -- won bronze with a time of 39.919 seconds.Seo Yi-ra, who won bronze in the 1,000, clashed with China’s Han Tianyu and fell in the quarterfinals.

Hard-liner to lead North Korea’s delegation to Olympic closing ceremony

Led by a hawkish general in charge of inter-Korea relations, a group of high-level delegates from North Korea will be dispatched for the closing ceremony of PyeongChang Olympics, South Korea’s Unification Ministry said Thursday. The North notified the Unification Ministry that it would send Sunday eight delegates led by Gen. Kim Yong-chol, head of the ruling party’s United Front Department and former chief of the Reconnaissance General Bureau. Accompanied by Ri Son-gwon, chairman of the Committee for Peaceful Reunification, Kim and six support staff will meet President Moon Jae-in before returning home on Tuesday, the presidential office said. “We are going to accept the visit by North Korea’s high-level delegates as we believe it would improve inter-Korean ties, establish peace on the Korean Peninsula and move forward with denuclearization process,” the ministry said in a statement. The Blue House spokesperson Kim Eui-kyeom said President Moon will meet with the North Korean delegates in a natural manner, hinting that there will be separate meetings outside of the closing ceremony which President Donald Trump’s daughter Ivanka Trump will attend.

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

For wardrobe, Ivanka not all-American girl

When it comes to fashion, Ivanka Trump, the first daughter and most valued adviser to U.S. President Donald Trump, used to be highly predictable. Polished in Escada, poised in Oscar de la Renta and always in her trademark stiletto heels, the 36-year-old model and businesswoman-turned-policy advisor has long been all for luxury labels. Up until she joined the rest of us and spawned a sudden but serious Zara habit. In recent months, Trump has been spotted on many occasions, ranging from typical workdays to national events, donning the latest pieces from the reasonably-priced and wildly popular fast fashion brand.

Young native English speakers may come to teach and learn

The National Institute for International Education will recruit foreigners who want to teach English and learn about Korea (TaLK) for six months.One hundred 100 will be recruited and applications should be made by June 20.The applicants should hold citizenship of the United States, Canada, Britain, Australia and New Zealand or other English-speaking nations and have completed at least two years of a four-year college course. For ethnic Koreans, living in these countries for at least eight years, being educated from primary and secondary to high school is required. People wishing to participate can apply at www.talk.go.kr. Those who are selected will undergo an orientation session before being assigned across the nation. They will teach for 15 hours per week, and the institute will pay for round-trip tickets and a monthly stipend of 1.5 million won plus accommodation and health insurance.

Ivanka rekindles hopes for US-North Korea talks

The chances of Washington-Pyongyang talks over the latter's nuclear program seem to be growing, with high-level officials from the two countries coming to South Korea for the closing ceremony of the PyeongChang Winter Olympics. Attention to any possible contact is high, especially after it belatedly became known the two sides had planned a meeting when U.S. Vice President Mike Pence and North Korean leader Kim Jong-un's sister Kim Yo-jong participated in the opening ceremony.

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

Mastermind of Cheonan Sinking Coming to Pyeongchang

North Korea plans to send the mastermind of the 2010 sinking of the South Korean Navy corvette Cheonan to the closing ceremony of the Winter Olympics in Pyeongchang. The North on Thursday said Kim Yong-chol, a vice chairman of the Workers Party Central Committee, will head a high-level delegation to the ceremony on Sunday. But Kim has been blacklisted by the U.S. and is concurrently the head of the United Front Department in charge of the regime's agitation against South Korea. As the former chief of the General Bureau of Reconnaissance, he masterminded a series of provocations against South Korea, including the sinking of the Cheonan and shelling of Yeonpyeong Island in 2010. Kim will be accompanied by Ri Son-gwon, the chairman of the Committee for the Peaceful Reunification of the Fatherland, and six others. Ri also attended the opening ceremony on Feb. 9.

Paper Shortage Cuts N.Korean Propaganda Output

North Korea recently cut the number of prints of the Rodong Sinmun propaganda newspaper by two-thirds due to a paper shortage amid international sanctions. A source on Wednesday said about 600,000 copies of the Rodong Sinmun were printed every day until the end of last year, but now that has been cut to 200,000 and home delivery has stopped. Founded in 1945, the paper is published for members of the Workers Party. In its heyday in the 1980s it printed 1.5 million copies, but this dwindled by half during the famines of the 1990s. The paper is supplied by the party's Propaganda and Agitation Department, which is headed by leader Kim Jong-un's sister Yo-jong.

Ivanka Trump to Have Dinner at Cheong Wa Dae

U.S. President Donald Trump's daughter Ivanka, who is visiting Korea to attend the closing ceremony of the Winter Olympics in Pyeongchang, will attend a dinner hosted by President Moon Jae-in on Friday.

First lady Kim Jung-sook could also watch one or two Olympic events with Ivanka.According to Cheong Wa Dae officials, Ivanka arrives in Korea on Friday and leaves on Monday. Seoul hopes that she can act as a mediator in its various differences of opinion with her father, especially trade disputes. The task of persuading her of Seoul's point of view will probably fall on Cheong Wa Dae chief policy secretary Jang Ha-sung, who is a fellow graduate of the Wharton School at the University of Pennsylvania.

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

GM’s history of “hit-and-run” subsidy requests under scrutiny

Amid reports that the GM corporate headquarters in the US has announced the closure of GM Korea’s factory in Gunsan, North Jeolla Province and asked the South Korean government for more than 1 trillion won (US$920 million) in aid and tax benefits, the spotlight is turning to GM’s practice of using jobs and the local economy as leverage to force governments around the world, including Australia and Europe, to shoulder the cost for its corporate restructuring.The Australian and European experience with GM is prompting concerns that, if the South Korean government prioritizes GM Korea’s short-term survival, its financial and tax support may be squandered on temporary life support for the jobs of workers in its factories. In other words, if the government pumps support into GM Korea without obtaining a mid- and long-term blueprint for GM’s development, the South Korean public might be left to cover the bill of the company’s phased withdrawal – which the GM corporate headquarters ought to pay, given its considerable responsibility for GM Korea’s poor management.

Calls grow for 12 countries targeted with US steel tariffs to mount a coordinated response

With the deadline for US President Donald Trump’s final decision about the US Commerce Department’s steel report (based on Section 232 of the Trade Expansion Act) coming up in early April, there are calls for the 12 countries that would be subjected to a minimum 53% tariff by the second option in the report (the option that would hit South Korean businesses the hardest) to band together in opposition to this option.“The 12 countries listed in the second option recommended by the US Commerce Department – including South Korea, Brazil, China, India, Russia and Vietnam – need to cooperate on their response,” said Song Gi-ho, an attorney specializing in trade and the chair of the trade committee for MINBYUN-Lawyers for a Democratic Society, on Feb. 21. In Song’s analysis, it is short-sighted to see Trump’s trade dispute over steel as squeezing South Korea between the two superpowers of the US and China as they wage a trade war. Fundamentally, Song believes, this constitutes Trump’s direct challenge to the international trade order itself.

South Korea and Switzerland agree to currency swap

The Bank of Korea announced that it had concluded a foreign currency swap worth up to 11.2 trillon won ($10.4 billion) with Switzerland on Feb. 20. The move helps to increase the financial stability of the Korean economy as it faces the threat of protectionist tariffs on a wide spectrum of products from the Trump administration. Bank of Korea Governor Lee Ju-yeol, pictured shaking hands with Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, told reporters that, “this deal was possible due to awareness that South Korea’s economy is strong and its foreign exchange and financial markets are safe.”

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

Figure behind Cheonan attack leads delegation

Pyongyang told Seoul Thursday that it would send its second high-level delegation to the PyeongChang Winter Olympics to participate in the closing ceremony Sunday and it will be led by the figure blamed by past administrations for masterminding the 2010 torpedoing of South Korea’s Cheonan warship, killing 46 sailors. Kim Yong-chol, a vice chairman of the North’s Central Committee of the Workers’ Party, will lead an eight-member delegation to South Korea from Sunday through Tuesday, according to the South’s Ministry of Unification, which handles inter-Korean affairs.Kim is also known to be director of the committee’s intelligence arm, the United Front Department.The North faxed the news through a hotline in the border village of Panmunjom on Thursday, said the ministry.

Defectors tell all on special YouTube program

Song Mi-na pulls a guitar to her chest, blinks back tears and prepares to sing.“It’s a North Korean song depicting the longing to reunite with one’s mother,” explains Song, 26, a North Korean defector who lives with her mother and younger brother in Uijeongbu, 12 miles north of the South Korean capital. “Now that I’m here with my mother, I’ve changed the lyrics to express my longing for my older brother.”

Song’s brother stayed behind when she defected in April 2013. He was supposed to defect three months later by swimming across the Amnok (Yalu) River near their house in Hyesan, Ryanggang Province, on the northern tip of North Korea right beneath the border from China. The river could swell dangerously, but Song’s brother said he was a good swimmer and would make it.

GM, government start haggling over local unit

Negotiations that could determine the fate of GM Korea kicked off between the Korean government and the American automaker, 10 days after GM announced plans to shut down its Gunsan plant by May.

While the Korean government was reportedly open to the idea of $2.8 billion in new investments in the troubled local GM unit over the next 10 years, it reportedly shot down a proposal for a $2.7 billion debt-equity swap. Korean Vice Minister of Strategy and Finance Ko Hyoung-kwon met with Barry Engle, executive vice president at GM, at the Seoul Plaza Hotel in downtown Seoul while Vice Minister of Trade, Industry and Energy Lee In-ho held a separate meeting with the GM executive in Seoul on Thursday.Ko reportedly nixed a debt-to-equity swap proposed by GM on grounds that GM Korea’s woes are the result of management failure and there is no reason for Korea Development Bank (KDB), the second-largest shareholder in GM Korea with a 17-perent stake, to take part in the debt-to-equity swap requested by GM.

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

Kang Yong-ju, Free from the Shackles of "Security Surveillance"

Kang Yong-ju (56, photo), the youngest long-term prisoner who refused to renounce his personal philosophy, stood in trial for failing to make a mandatory report according to the Security Surveillance Act, but was acquitted by the court. The court said there was no danger of Kang repeating his past crime of violating the National Security Act, for which the state had found him guilty in the past, and said that extending the security surveillance of Kang violated the law. However, the court judged that the Security Surveillance Act itself did not violate the Constitution.On February 21, Judge Jo Gwang-guk of Criminal Department 4 of the Seoul Central District Court said, "Given his residence and his occupational activities, Kang has led a stable social life as a member of our society. The state's decision on three occasions to extend the security surveillance period of Kang, who lacks any risk of repeating his offense, is illegal." Thus the court acquitted Kang claiming that he had no obligation to report his personal information to the state.According to the Security Surveillance Act, the government can decide to keep a person with a prison sentence of three years or longer for violating the National Security Act under security surveillance after a review. If a person is subject to security surveillance, that person must report major activities to the police chief with jurisdiction over his case every three months.

Senior Members of the Liberty Korea Party Who Called for a Meeting End up Cautious Lest They Provoke Hong

On February 21, the Liberty Korea Party held a meeting of its senior lawmakers, a meeting that had been suspended for six months since last August. But a large number of the senior lawmakers refused to attend the meeting in opposition to the party leader, Hong Joon-pyo's party management, and the meeting ended up as a "senior-less" meeting of senior members. The few senior lawmakers that were present at the meeting just passively criticized communication problem within the party. Experts point out that the latest incident displayed the limits of the "well-being party," which lacks fierce debate to overcome the current crisis and the division of the Hong Joon-pyo system. This day, the party held a meeting of senior lawmakers and chairmen of the standing committees to design a strategy on the parliamentary floor. The party's floor leader Kim Sung-tae presided over the meeting. Recently, the senior lawmakers had publicly asked Hong to resume the meeting of the party's senior lawmakers and members of the supreme council, which had been suspended for some time. But when Hong refused, Kim Sung-tae stepped in as an arbitrator.

Embracing and Supporting Each Other Despite the Occasional Mistake, Female Skaters Establish the Formula for Success: One Team = Winning Team

The team representing the Republic of Korea was strong. When they fell, they got back up, and when they cried, they wiped each other's tears. They were always together, hand in hand. Their strength, which earned them five gold medals in six Olympic games, was reaffirmed with their sixth gold medal in 2018.South Korea's female short track speed skaters carried a heavy burden each time they competed at the Olympics. The title of the world's strongest team was an honor, but they were always under pressure to win the gold medal, especially in the women’s 3,000m relay. The burden was in no way light for the young athletes in their late teens and early twenties. Besides, this was the first winter Olympics held in South Korea. The overwhelming cheers from the crowd could power them, but they could always work the other way.

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

Red Velvet's Wendy becomes holographic avatar inside AI assistant speaker

Wendy, a member of South Korea's popular K-pop girl band Red Velvet, will add a human touch to an AI voice assistant speaker, acting as an interactive holographic avatar, created by SK Telecom which used new technology based on a fifth-generation (5G) mobile network.Because AI voice assistant speakers are connected to WiFi networks, they normally bear cylindrical shapes, maximizing their surface area to effectively receive wireless internet signals. However, their dull designs make users feel like talking a machine.On Thursday, SK Telecom unveiled "Holobox", an AI voice assistant speaker with a built-in holographic display. Wendy will interact with users, carrying out tasks -- control connected home appliances, recommend music based on user preferences and engage in simple chats.SK Telecom will demonstrate Holobox at the Mobile World Congress (MWC) to be held in Barcelona on February 26, along with "LTE Cat.M1", a new low-bandwidth network dedicated to IoT (internet of things) devices such as home appliances, wearables and some connected cars.

U.S. Gray Eagle drone company launched in S. Korea

A U.S. Gray Eagle drone company was launched this week in South Korea, although China has raised an eyebrow at the deployment of advanced American weaponry on the Korean peninsula.The launch of a drone unit on Wednesday came as South Korea is eager to foster an inter-Korean thaw brought by North Korea's surprise decision to send Winter Olympic athletes, cheerleaders and a high-level delegation across the border.The system capable of carrying four Hellfire air-to-surface missiles has upgraded reconnaissance and surveillance technology over that of the Predator drones. It can also integrate with Apache attack helicopters.Grey Eagle features an automatic takeoff and landing system that allows the aircraft to be launched and recovered without any operator interaction. It could reach speeds of up to 280 kilometers (168 miles) per hour during its 30 hour operation time.Washington has said the Gray Eagle company based in an American air base at the southwestern port city of Gunsan would enhance defenses against North Korean threats. Hangars and supporting facilities for the permanent deployment of 12 Gray Eagle drones have been built in Gunsan.

Majority of S. Koreans oppose unconditional bailout for GM

A majority of taxpayers opposed an unconditional bailout to keep afloat General Motors' troubled operations in South Korea, a poll showed Thursday as the American carmaker embarked on talks with government officials over the proposed shutdown of one plant.In a survey of 500 people, Realmeter, a Seoul-based pollster, found that 55.5 percent supported conditional financial help only if GM submits a reasonable plan to normalize the operation of its subsidiary in South Korea, while 29.8 percent opposed the injection of taxpayers' money to rescue a foreign company. Only 6.4 percent supported unconditional support.The survey coincided with the start of negotiations between GM Executive Vice President Barry Engle and Ko Hyong-kwon, the first vice minister of the Strategy and Finance Ministry. Engle is expected to hold a series of meetings with South Korean policymakers.

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

Jailed Lotte chief resigns as chairman of Lotte Holdings Japan

Lotte Group Chairman Shin Dong-bin resigned from his post as chairman of Lotte Holdings in Japan following his conviction for bribery charges last week. The company announced Wednesday that Shin will step down from his position as chairman but remain on the board by retaining his double title as vice chairman. Lotte Holdings would be headed by Japanese co-chair Takayuki Tsukuda. Last Tuesday, Shin was sentenced to a 30-month jail term on bribery charges involving a massive corruption scandal that removed former President Park Geun-hye. He must appeal behind bars. A Lotte Group official said the decision follows the general practice of Japan, where executives given a prison sentence are usually dismissed.

GS E&C makes a inroad into Indonesia’s housing market

South Korea’s GS Engineering & Construction Corp. (GS E&C) has joined hands with Indonesia’s leading developer Vasanta Group to build a residential complex in Jakarta, Indonesia, making an inroad into the growing housing market in the Southeast Asian country. GS E&C said on Thursday that it signed an agreement with Vasanta Group to set up a joint venture to build a large residential complex dubbed City Gate 88. Each company will own a 50 percent stake in the joint venture with Vasanta Group contributing land it already owns and GS E&C investing about $20 million in the project for the remaining construction expenses. The Korean builder expects the joint venture would rake in about $200 million from the apartment sales.

Hancom to display smart city solutions at Mobile World Congress

Hancom Group, owner of South Korea’s leading office software developer Hancom Inc. that is striving to diversify its business portfolio through convergence of software and hardware platforms, will present its smart city solutions at this year’s Mobile World Congress (MWC). The company said on Thursday that it will display its smart city solutions that have been developed based on its indigenous artificial intelligence, Internet of Things (IoT), block chain, and security technologies at the world’s biggest mobile industry trade show to be held in Barcelona, Spain next week. The software developer will display the smart city platform in three main areas - an IoT-based platform that helps control vehicles, drones, closed-circuit televisions and sensor-embedded smart buildings using cloud computing technology; a platform dedicated to enhancing public safety and convenience such as in fire prevention, telecommunications, and crime prevention sectors; and an administrative platform that can promote an electronic government, smart contracts and smart financial services using block chain technology.

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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

Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com

Asahi www.asahi.com customer-support@asahi.com

Mainichi www.mainichi.jp

Le Monde www.ilemonde.com

Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com

Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de

SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de

Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au

Sydney Morning Heraldwww.smh.com.au

Colombia Reports http://colombiareports.com

Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com

El Universal http://www.eluniversal.com.mx/english

Andes http://www.andes.info.ec/en

Ecuador Times http://www.ecuadortimes.net

The Jordan Times https://www.jordantimes.com

LSM.lv http://www.lsm.lv/en

The Baltic Times http://www.baltictimes.comlithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com

El Pais http://elpais.com/elpais/inenglish.html

Philippine Daily Inquirer https://www.inquirer.net

Daily News Hungary http://dailynewshungary.com

Budapest Times http://budapesttimes.hu

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The Korea Post is running video clips from the different embassies.

Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM

Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s

Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE

And many other countries.

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20-page Korean-language newspaper http://www.koreapost.co.kr/pdf/list.php

English E-daily http://www.koreapost.com/news/articleView.html?idxno=6221

English monthly magazine The Korea Post http://www.koreapost.com/cover/coverList.html

To satisfy your information dissemination-acquisition requirements, please drop a line at edt@koreapost.com, pub@koreapost.com or yeskoreapost@gmail.com

The publisher-chairman of The Korea Post media is serving the Diplomatic Community for more than 40 years, 32 years with The Korea Post and 10 years with The Korea Herald as the Cultural Editor who covered the Diplomatic Community.

For quick response, call Chairman Lee directly at 010-5201-1740 or reporters at 010-3388-1682 or 010-7584-5873.

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Lee Kyung-sik  edt@koeapost.com

<저작권자 © 코리아포스트, 무단 전재 및 재배포 금지>

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