The Korean daily media headlines and humor
The Korean daily media headlines and humor
  • Lee Kyung-sik
  • 승인 2018.03.12 10:44
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The Korean daily media headlines and humor

Monday, March 12, 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:

N. Korea says its nuclear power status laid foundation to focus on economic development

A North Korean academic paper released late last year showed that Pyongyang believes that its "nuclear weapons status" will allow the country to fully devote itself to economic development going forward, the report picked up in Seoul on Sunday showed.A periodical acquired by Yonhap News Agency lauded the so-called "Byungjin" policy, which centers on simultaneous development of nuclear armament and economic growth.The paper was issued on Nov. 15, just two weeks before Pyongyang tested a new intercontinental ballistic missile (ICBM), which the North claims is capable of hitting anywhere in the U.S.

POSCO-Samsung SDI consortium to build cathode plant in Chile

A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday.The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, which will take advantage of the Latin American country's ample lithium deposits to produce cathode, a key raw material needed to manufacture batteries, POSCO said in a statement. POSCO has a construction unit under its wing that will build the plant in Mejillones. The plant will be capable of producing 32 million tons of cathode a year, which will be used to make batteries of electric vehicles from late 2021, it said.Samsung SDI expects a stable supply of cathode will help it provide car batteries to its corporate customers, the statement said.

Blockchain can prevent delays in payment for products delivered by SMEs: report

Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday.The report by Korea Small Business Institute (KOSBI) said blockchains can open new horizons for how small and medium enterprises (SMEs) conduct business with their larger contractors.Blockchain, often associated with cryptography and virtual currency, is considered an incorruptible digital ledger that can document all kinds of transactions and data. The system is designed for a wide range of data sharing among a vast number of computers that are all linked together in a "chain" that theoretically cannot be tampered with.Park Jae-sung, a research fellow at KOSBI, claimed that a contract distributed through the blockchain system will make delayed payment and unilateral changing of a deal a thing of the past.



Moon's Envoys to Meet Leaders of China, Japan

South Korea's national security adviser and spy chief will visit China, Russia and Japan to seek international support and cooperation ahead of summit talks between the leaders of the U.S. and North Korea.National Security Adviser Chung Eui-yong will depart for China on Monday to meet with Chinese President Xi Jinping before visiting Russia on Tuesday. National Intelligence Service Director Suh Hoon will visit Japan to meet with Japanese Prime Minister Shinzo Abe on Tuesday to brief on the results of his recent meetings with North Korean leader Kim Jong-un and U.S. President Donald Trump.During their U.S. trip, the two security officials met with Trump and conveyed Kim's willingness to hold talks with the United States.Trump accepted Kim's invitation to meet, saying he will meet the North Korean leader by May.

Mnuchin: No Nuke, Missile Testing Condition Through US-N. Korea Summit

U.S. Treasury Secretary Steven Mnuchin says no missile or nuclear testing will be a condition throughout the U.S.-North Korea summit. Mnuchin made the remark on Sunday when he appeared on NBC’s “Meet the Press” program, saying there shouldn’t be confusion to the conditions for the talks. His comment came as White House Press Secretary Sarah Huckabee Sanders said that the president will not have the meeting without seeing concrete steps and concrete actions.Earlier on Saturday, Trump tweeted that Pyongyang has not conducted a missile test since November 28th, 2017 and has promised not to do so throughout bilateral meetings, adding he believes the North will honor that commitment.

US Doesn't Rule out White House as Venue of US-N. Korea Summit

White House Principal Deputy Press Secretary Raj Shah has not ruled out the possibility of the envisioned U.S.-North Korea summit taking place at the White House. Appearing on the ABC program “This Week,” on Sunday, Shah said that nothing is being ruled out when asked if U.S. President Donald Trump would be open to actually having North Korean leader Kim Jong-un at the White House.Shah stressed that a time and place have still to be decided, adding that he doesn’t have an announcement right now.Also on Sunday, CIA Director Mike Pompeo told “Fox News Sunday” that the substance of the discussion between Trump and Kim is a lot more important than where they meet.


Yonhap (

S. Korea's exports dip 3.4 pct in first 10 days of March

South Korea's exports fell 3.4 percent on-year during the first 10 days of March due to fewer working days, customs data showed Monday.The country's outbound shipments reached US$13.7 billion in the March 1-10 period, according to the data from the Korea Customs Service.The customs office, however, said that daily average exports, which reflect working days, actually grew 3.5 percent on-year to $1.95 billion compared to a year earlier."Despite the dip in numbers, export growth is being maintained," a government official said.The country's exports have been growing since November 2016.By product, outbound shipments of semiconductors surged 41.4 percent, with petrochemical and mobile communication equipment rising 3.4 percent and 19.9 percent each.

S. Korea to decide on joining CPTPP before June

South Korea will decide whether to join the fledgling Pacific trade pact within the first half of the year after looking into its impact on the national economy and consulting with member states, Seoul's chief economic policymaker said Monday.A year after U.S. President Donald Trump abandoned the Trans-Pacific Partnership, the 11 remaining member states last week signed a revamped deal, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in Chile. The agreement that aims to slash tariffs on goods to stimulate trade, will come into force after it is fully ratified by six of the 11 members, which include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The countries represent 13.5 percent of global gross domestic product, a total of $10 trillion.

Turkish broadcasting company apologizes for mistakenly using Moon's photo

A Turkish broadcasting company has officially apologized for having mistakenly used a photo of South Korean President Moon Jae-in in covering a horrendous murder case, the foreign ministry said Monday.The apology was made by an announcer during the prime-time news program of Show TV on Sunday night (local time), according to the ministry."Our news (program) used the photo of the president mistakenly. It was done totally inadvertently, and for this mistake, (we) apologize to the president and the people of our brotherhood country" the ministry quoted the announcer as saying. On Feb. 25, Show TV used Moon's photo in a news program covering the murder of a Filipino maid in a Middle East country. The broadcaster deleted the online video after receiving strong complaints from the South Korean mission in Turkey.The foreign ministry has lodged a protest with the Turkish broadcasting station and called for a formal apology through its program. The broadcasting company recently sent an apology letter to the Seoul government.


The Korea Herald (

Trump to meet Kim as long as promises kept: White House

US President Donald Trump will meet with North Korean leader Kim Jong-un as long as the regime keeps its promises on denuclearization and nuclear and missile tests, a White House official said Sunday.The spokesperson for the National Security Council rejected claims the administration set new preconditions for the envisioned summit when it called for "concrete actions" from the North."The Press Secretary's statement about 'concrete actions' did not refer to new preconditions," the spokesperson said in emailed comments to Yonhap. "The Press Secretary was conveying that North Korea must maintain its commitment to denuclearization and not test missiles or nuclear tests before the Summit."

Korea to file WTO complaint against US washer safeguard amid tension over steel tariffs

South Korea is preparing to file a complaint with the World Trade Organization after the rejection by the US government of a request to withdraw its safeguard measures on Korean washers, amid intensifying tension over President Donald Trump’s decision to impose tariffs on imported steel products.The US had previously said it would revise the measure by March 4, if necessary. But the measure remained unchanged despite South Korea’s request to cancel the decision on imposing hefty tariffs on Korean companies shipping more than 1.2 million washers to the US. Deputy Prime Minister and Minister of Strategy and Finance, Kim Dong-yeon, has sent a letter on Sunday to the US Treasury Secretary, Steven Mnuchin, to request exempting South Korea from steel tariff list, citing the “close bilateral relationship.”

Wife of lawmaker accused of sexual misconduct under fire for supporting husband

The wife of a lawmaker accused of sexual harassment came under fire on Sunday for saying she believes in her husband’s integrity, expressing joy over his decision to resign. Mok Hae-jung, wife of three-term lawmaker Rep. Min Byung-doo of the ruling Democratic Party of Korea, wrote on her Facebook late Saturday that while she admits Min is at fault, she stands by him. Min had said he would give up his parliamentary seat, just a few hours after a woman claimed he had forcefully kissed her in a karaoke room after a dinner meeting in 2010.


The Korea Times (

Korean gov't demands Turkish TV apologize for false report

The Korean government has called on a Turkish broadcaster to apologize for using President Moon Jae-in's image falsely as a murder suspect.The Ministry of Foreign Affairs said Sunday it has repeatedly demanded Show TV, a Turkey-based TV channel, apologize after it used Moon's image on a news program on Feb. 25 to represent a murder suspect who allegedly killed a Filipina maid.The broadcaster also reportedly described Moon and Donald Trump's daughter Ivanka as a "killer couple," showing a photo taken during her visit to Korea for the PyeongChang Winter Olympics last month. It identified them as a "millionaire businessman and his wife." The broadcaster deleted the video online after South Korea's embassy in Ankara complained about it but has not yet aired an official apology."We made multiple complaints to the broadcaster through our embassy there immediately after the program was aired," the ministry said in a statement. "We have also called for assurances to prevent similar accidents from happening."The incident came into the media spotlight here after Koreans living in Turkey reported it to the ministry.

Xi Jinping cleared to stay on as China's president

China's legislature gave near-unanimous approval to sweeping changes to the constitution on Sunday, formally removing term limits to enable Xi Jinping to stay on as the president beyond 2023.The National People's Congress passed the historic constitutional amendments with 2,958 votes in favour, only two against, and three abstentions. One ballot was invalid. A total of 2,964 votes were cast.The endorsement came as no surprise, given the Communist Party's iron grip on the legislature. But the extremely high approval rate nevertheless gives the controversial move a veneer of universal support within the establishment, despite criticism and scepticism at home and abroad.With the presidential term limits formally dropped from the constitution, Xi could become one of the country's longest-serving leaders – to the disquiet of many who fear a return to strongman rule. The two-term limit on the presidency was introduced by late paramount leader Deng Xiaoping in 1982 to prevent a repeat of Mao Zedong's tumultuous decades-long reign that only ended in his death. With the vote on Sunday, all three titles Xi holds – including the more important party boss and military chief roles – are free of formal term limits.

Skier Sin wins South Korea's first medal at PyeongChang Paralympics

Nordic skier Sin Eui-hyun won South Korea's first medal at the 2018 PyeongChang Winter Paralympics, Sunday. Sin, 37, finished third in the men's 15-kilometer sitting cross-country skiing race, with 42 minutes and 28.09 seconds at the Alpensia Biathlon Center in the eastern county of PyeongChang, taking the bronze. He is the first Korean to win a medal in Nordic skiing at Paralympics. There are no Korean skiers who won a medal in cross-country skiing at Olympics. His victory came a day after he finished fifth in the men's 7.5-kilometer sitting cross-country skiing. He was a gold medal favorite in the sport. Revealing his frustration after the race on Saturday, Sin shed tears as he met his parents. "I didn't cry yesterday. It was sweat, not tears," a beaming Sin told reporters. "After yesterday's race, I kept trying to be optimistic (because I had another race today)... No matter what happened to me, it's great to win an Olympic medal."


Chosun Ilbo (

F-35B Stealth Fighters to Participate in Joint Drills

A massive U.S. amphibious assault ship carrying F-35B stealth fighter jets will take part in a joint South Korea-U.S. landing exercise early next month for the first time. The decision comes amid calls to scale back the drills as summits between North Korean leader Kim Jong-un and the South Korean and U.S. presidents loom. The landing exercise will be more than twice as large as last year's, reflecting Washington's determination to keep up maximum pressure on the North until substantial progress in denuclearization efforts is made.The joint annual exercises kick off late this month. As part of the Foal Eagle combined field training exercise, they will also stage the landing exercise in Pohang, North Gyeongsang Province early next month.

Pangyo Beats Gangnam in Apartment Prices Near Subway Stations

Apartments around the Gyeonggang Subway Line, which runs from the satellite town of Pangyo in Seongnam to Yeoju in Gyeonggi Province, are the most expensive in Seoul and surrounding areas, a survey shows.Property information service Real Estate 114 on Thursday said it surveyed apartments within a 10-minute walk of subway stations on 21 lines, and the average price of apartments around the Pangyo-Yeoju line is the highest at W1.02 billion (US$1=W1,071). The second-most expensive are near the stations of the Bundang Line between Bundang, Gyeonggi Province and Seoul's Gangnam at an average of W999.6 million, followed by those around Line No. 3 running across central Seoul with W967.95 million. "Due to the recent announcement of the "Pangyo Techno Valley" project and construction of the express trains, apartment prices in Pangyo have skyrocketed," said Lee Mi-yoon at Real Estate 114.

Olympic Star Curlers Land Another Advertising Deal

The Korean women's curling team have clinched another advertising deal after endearing themselves to the world at the Winter Olympics last month.Nicknamed "garlic girls" because four of the main players come from Euiseong, North Gyeongsang Province, famous for its garlic farming, will now advertise garlic-flavored ham for Lotte after landing an advertising deal for vacuum cleaners from LG. The team, also known as "Team Kim" because they all have the same surname, became hugely popular after winning the silver medal.Earlier, Lotte Food tried to cash in on their success for free, posting a photo on Instragram of a model resembling one of the curling athletes holding one of its products. Amid the ensuing outcry, it deleted the picture and relented, and signed the contract with them on Thursday.


HanKyoReh Shinmun (

Trump agrees to meet with Kim Jong-un in May

In May 2018, 73 years after the division of the Korean Peninsula and 65 years after the Armistice was signed halting the Korean War in 1953, North Korean leader Kim Jong-un and US President Donald Trump will be holding a summit. The epochal meeting of the leaders of two sides which have rejected, threatened and snarled at each other with hostility for more than three decades since the end of the Cold War is likely to pick up the baton from the inter-Korean summit at the end of April and become a historic watershed defining the destiny of the Korean Peninsula.After coming out of his meeting with Trump on Mar. 8, Blue House National Security Advisor Chung Eui-yong announced at the White House that Kim had “expressed his eagerness to meet President Trump as soon as possible” and that Trump had “said he would meet Kim Jong-un by May to achieve permanent denuclearization.”“I told President Trump that, in our meeting, North Korean leader Kim Jong-un said he is committed to denuclearization. Kim pledged that North Korea will refrain from any further nuclear or missile tests. He understands that the routine joint military exercises between the Republic of Korea and the United States must continue,” Chung said.

President Moon express cautious optimism about US-North Korea summit

President Moon Jae-in offered a somewhat muted response to the good news from Washington on Mar. 9 about plans for a North Korea-US summit. In a position statement on the North Korea-US talks announced by Blue House spokesperson Kim Eui-kyum, Moon said the meeting between North Korean leader Kim Jong-un and US President Donald Trump will “go down as a historic milestone in creating peace on the Korean Peninsula.”“I express my deep thanks to the courage and wisdom of the two leaders in making this difficult decision,” he added.While Moon’s mediating efforts as self-appointed “driver of the Korean Peninsula” played a major role in the formation of North Korean summits with the South in April and now the US in May, the Blue House maintained a cautious stance, stressing that “what happens from now on is more important.” Moon’s attitude is that he cannot afford to rest easy until the hard-won momentum in dialogue leads ultimately to denuclearization and peace for the Korean Peninsula.

South Korean military allegedly discussed using force to suppress candlelight demonstrations

South Korea’s military leadership discussed invoking the garrison decree to suppress candlelight demonstrations if the impeachment against former President Park Geun-hye was overturned, a group has claimed. The Ministry of National Defense announced plans for an immediate examination into the truth of the allegations.“At the time of the candlelight revolution for Park Geun-hye’s resignation, there were multiple reports that the military was plotting to suppress the demonstrations using armed force,” said Im Tae-hoon, director of the Centre for Military Human Rights Korea (CMHRK) during a press conference at the Lee Han-yeol Memorial Museum in Seoul’s Mapo district on Mar. 8.“Following the impeachment’s approval by the National Assembly on Dec. 9, 2016, there were discussions within the Ministry of National Defense about the need to prepare to send military troops in if the Constitutional Court dismissed the impeachment decision [of the National Assembly],” Im explained.


JoongAng Ilbo (

Kim is willing to dismantle nukes, South Korea says

North Korean leader Kim Jong-un promised dismantlement of his country’s nuclear weapons program - not merely a freeze - when he met with South Korean envoys last week in Pyongyang, multiple government sources told the JoongAng Ilbo on Sunday. “Kim expressed willingness for denuclearization, which includes not only a nuclear freeze but also dismantlement,” said one source familiar with the talks. “Now is the moment where we have to wait and see if the North will actually start the process of dismantling its nuclear program.”Last week, South Korean President Moon Jae-in sent five special envoys, including Chung Eui-yong, head of the National Security Office, to meet with Kim Jong-un in return for Kim sending his sister to Seoul last month.The delegation met with Kim on Monday and made several agreements, including an inter-Korean summit in April and moratorium on nuclear and missile tests during talks with the United States.After the meeting, Chung and Suh Hoon, director of the National Intelligence Service, visited Washington and met with U.S. President Donald Trump to deliver Kim’s message, which included a proposal to meet with Trump. Trump accepted the invitation for talks about denuclearization and said he would meet Kim by May.

Me Too allegations plague Seoul mayoral race

Another candidate for Seoul mayor faces allegations of sexual assault in Korea’s growing Me Too movement.Rep. Min Byung-doo of the ruling Democratic Party announced his intention to resign as lawmaker and drop out of the mayoral race on Saturday, just days after another candidate was accused of sexual misconduct.“I believe the decision to resign is the way to win back my honor,” Min told the JoongAng Ilbo. “I have seen in the past how lawmakers would use taxpayer money to pay for lawyers whenever they are embroiled in scandals, and that didn’t look good. I was always thinking that I’d be ready to step down from my post if I were found lacking in any way.”“I do support the Me Too movement in Korea,” he added, “and I hope that it will serve its purpose.”

Finance minister to press Mnuchin on tariffs

Kim Dong-yeon, Korea’s finance minister, sent a letter to U.S. Treasury Secretary Steve Mnuchin requesting the Trump administration exempt Korea from sweeping steel and aluminum tariffs, the ministry said Sunday.Kim expressed concerns about the U.S. government’s decision to impose 25 percent tariffs on all imported steel based on the premise of national security. The letter contained a request to exclude Korea from the broad tariffs, considering the close cooperative relationship between the two countries. In his letter, the finance minister stressed that Korean steel and automotive companies have contributed largely to job creation in the United States through their investments. Levying tariffs, the minister said, could have a negative impact on bilateral relations. Kim plans to meet personally with Mnuchin to discuss the tariffs during the G-20 finance ministers’ meeting scheduled to take place from March 19 in Buenos Aires.Over the weekend, Australia became the third country excluded from the Trump administration’s latest tariffs, raising the possibility that other countries could join the list.


The KyungHyang Shinmun (

The Pathetic #MeToo Awareness of Hong Joon-pyo and Park Soon-ja

At a Cheong Wa Dae luncheon on March 7, Hong Joon-pyo, the leader of the Liberty Korea Party referred to the rape case involving Ahn Hee-jung, former governor of Chungcheongnam-do and suggested a conspiracy theory. He said, "There's word that Im Jong-seok (chief of staff) planned it (the expose)." On March 8, International Women's Day, lawmaker Park Soon-ja, chairperson of the Liberty Korea Party's special committee to end sexual violence spoke on the problem of sexual violence within the party and said, "The conservative Liberty Korea Party is also conservative when it comes to sexual morality," and added, "The shameful incidents in our party were mostly just 'touching' or incidents that occurred at dinner parties; things never went so far as sexual violence." We are outraged at the behavior of the Liberty Korea Party, which undermines the nature of the #MeToo campaign and reveals their shameless and base gender sensitivity.

Expectations for the Summit, Perhaps an Agreement on a Reunion of Separated Families

Now that North and South Korea have agreed to hold a summit at the end of April, the attention is on whether progress will be made on previous suggestions by the Moon Jae-in government, such as a reunion of separated families and a meeting of military authorities. The government has already begun preparations expecting the third inter-Korean summit to open the door to a reunion of separated families. Non-government exchanges and aid to North Korea, which had reduced significantly due to the sinking of ROKS Cheonan in 2010 along with North Korea's nuclear and missile provocations, are also showing signs of renewed life. Reportedly, at a presidential luncheon with the leaders of the five ruling and opposition parties on March 7, Cheong Wa Dae mentioned plans to actively promote Red Cross talks for the reunion of separated families in addition to military talks. Lee Yong-ju, the parliamentary spokesperson for the Party for Democracy and Peace, who was present at the luncheon, said in a press briefing, "The government explained that they will proceed with various talks, such as the Red Cross talks and military talks after the summit."

"Relaxed and Smiling Throughout the Meeting… Kim Jong-un Was Honest and Bold"

President Moon Jae-in's special envoys to North Korea, who visited North Korea on March 5-6 with Chung Eui-yong, head of the Cheong Wa Dae National Security Office, in the lead, said that Kim Jong-un, chairman of North Korea's State Affairs Commission was "honest and bold" in his handling of foreign affairs. Reportedly, the envoys communicated with Cheong Wa Dae via facsimile only during their stay in North Korea. The House of Peace in Panmunjom, which will be the venue for the third inter-Korean summit, was selected by North Korea among the many options that the envoys proposed.A key Cheong Wa Dae official met with reporters on March 7 and said, "Chung Eui-yong, head of the National Security Office and the people who returned from Pyongyang said that he (Kim Jong-un) was honest and bold." Within Cheong Wa Dae, officials assessed Kim Jong-un to be "different from Kim Jong-il," and "cool and flexible" even before the envoys set out for North Korea.


AJU Business Daily (

President Moon hails Trump-Kim summit as 'historic milestone'

South Korean President Moon Jae-in on Friday hailed an agreement to hold a landmark summit between the leaders of North Korean and the United States as a "historic milestone" for peace on the Korean peninsula.Moon praised U.S. President Donald Trump and North Korean leader Kim Jong-un for making a "difficult" decision and said the May meeting between them could put complete denuclearization of the Korean peninsula on the right rack, according to the president's spokesman."The May meeting will be recorded later as a historic milestone that realized peace on the Korean peninsula," Moon was quoted as saying. He called for caution saying he would seek progress in a "sincere and deliberate" manner. "Our government will cherish an opportunity that came like a miracle."Moon's comment came after Trump agreed to meet Kim by May for talks on permanent denuclearization. Trump tweeted that Kim talked about denuclearization, not just a freeze. "Also, no missile testing by North Korea during this period of time. Great progress being made but sanctions will remain until an agreement is reached," he wrote.

Trump to meet Kim as long as promises kept

U.S. President Donald Trump will meet with North Korean leader Kim Jong-un as long as the regime keeps its promises on denuclearization and nuclear and missile tests, a White House official said.The spokesperson for the National Security Council rejected claims the administration set new preconditions for the envisioned summit when it called for "concrete actions" from the North."The Press Secretary's statement about 'concrete actions' did not refer to new preconditions," the spokesperson said in emailed comments to Yonhap. "The Press Secretary was conveying that North Korea must maintain its commitment to denuclearization and not test missiles or nuclear tests before the Summit."Trump accepted Kim's invitation to a summit on Thursday after a year of heightened tensions over North Korea's nuclear and ballistic missile tests. The meeting, which Trump said would take place by May, would be the first between a sitting U.S. president and a North Korean leader.

Kakao's AI to replace 30% of call-in help desk

Chatbot services using AI technology will cover about 30 percent of the work at all call-in help desks of South Korean web service giant Kakao.Chatbot, or also known as chatterbot, is an AI chatting application which answers to questions in text. Sometimes chatbots provide preset answers but nowadays they use AI to find the most appropriate answer."We are developing chatbots which can cover ARS (auto route selection) phone calls or answer to FAQ (frequently asked questions) on websites or chatting applications," a Kakao official told reporters on Friday, predicting chatbots would cover about 30 percent of Kakao's call-in helpline work including call centers.Kakao said its chatbot service is already covering about 10 percent of its call center workload.Chatbots will be useful in other services such as Kakao Bank, an online bank, the company said. I plans to introduce a new chatbot service for Kakao Bank later this year but its work area will be limited to answering simple questions..


Maeil Business News Korea (

Hankook Tire’s Ventus Prime 3 rated top by Germany’s motoring magazine

Ventus Prime 3, Hankook Tire Co.’s high-performance tire, has topped tire test ratings of Germany’s leading monthly automobile magazine ADAC Motorwelt, beating global big names Michelin and Bridgestone, the South Korean company said on Friday. Hankook Tire’s Ventus Prime 3 received the highest score in a dry road surface test, proving its technical skills as a global top tier manufacturer. ADAC Motorwelt tested the performance of total 16 tires of global brands by fitting them to a Volkswagen Golf. Top-rated brands were Hankook Tire, Michelin, and Bridgestone. Ventus Prime 3 - which had also won the summer tires test held by another leading German magazine AutoBild in 2016 - is Hankook Tire’s high-performance product that targets the European market. It is known for offering balance between high-speed and safety performance that is optimized for climate and road conditions in Europe and providing a comfortable driving experience to passengers.

Mando’s winter-test system has served customers for 30 years

Mando Corp., auto parts making unit of South Korea’s large conglomerate Halla Group, celebrated the 30th anniversary of the launch of its winter driving test system. “Thirty years of winter test in Mando’s 56-year history underscore the company’s strong commitment towards the safety of drivers and passengers, representing the essence of the company’s technology,” Chung Mong-won, chairman of Halla Group, said at a celebration event held on Wednesday (local time) in Arjeplog, a rural village in northern Sweden where the Korean company runs one of auto parts test sites against harsh winter weather. About 80 officials attended the event including Sture Lestander, chairman of Colmis AB, Britta Flinkfeldt, mayor of Arjeplog, and Hwang Yin-yong, chief executive of Halla Holdings Co.

Korea’s NongHyup Financial expands insurance biz in China, Southeast Asia

South Korea’s NongHyup Financial Group Inc. is accelerating its inroads into the insurance market in China and other Southeast Asian countries in partnership with local companies, strengthening its overseas business portfolio. According to NongHyup Financial Group on Sunday, its two affiliates NongHyup Property & Casualty Insurance and NongHyup Life Insurance will hold a stake in new insurance companies in China that will be set up in partnership with China’s All China Federation of Supply and Marketing Cooperatives. The Chinese Group aims to launch a property insurance firm with an investment of 1.5 billion yuan ($237 million), with NongHyup Property & Casualty Insurance holding less than a 20 percent stake in it. NongHyup Life Insurance also plans to join the move when the Chinese cooperative establishes a new life insurance company.


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