The Korean daily media headlines and humor
The Korean daily media headlines and humor
  • Lee Kyung-sik
  • 승인 2018.03.16 10:59
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The Korean daily media headlines and humor

Friday, March 16, 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


Inter-Korean summit expected to be one-day meeting: official

Next month's summit between President Moon Jae-in and North Korean leader Kim Jong-un is expected to be a one-day meeting, a key presidential official said Friday. "Though we have to discuss this in the summit preparation committee and then it should be finalized through working-level contact with the North, wouldn't it be like that?" the official told reporters when asked if the summit will last one day. The official added, however, that that's what it appears to be "for now," suggesting that the planned meeting could last for multiple days, depending on discussions with the North. Moon and Kim are scheduled to meet at the South side of the border village of Panmunjeom in late April in what would be the third inter-Korean summit. Both of the previous summits, which took place in 2000 and 2007, were held in Pyongyang for three days. The venue is expected to be a key factor in deciding the duration of the summit. Unlike previous summits, which included not only talks, but also other side events, the tense border village is considered unfit for such auxiliary events.

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

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

S. Korea, U.S. hold 3rd round of FTA talks

South Korea and the United States were holding a third round of talks Thursday to amend their free trade agreement as Washington took a series of protectionist actions.The two sides, led by senior trade officials, met at the U.S. Trade Representative's office in Washington to continue negotiating terms for a new trade pact that will address U.S. complaints about a widening deficit and alleged unfair trade in the auto sector.U.S. President Donald Trump has slammed the 2012 agreement as a bad deal that cost American jobs and hurt the manufacturing sector. South Korea has countered that the agreement benefited American services and agriculture.

‘Our Foreign Minister will visit Korea soon to further upgrade bilateral cooperation’

Ambassador Nabih El Abed of Tunisia in Seoul stated that Minister of Foreign Affairs M. Khemaies Jhinaoui of his country will visit Korea soon for high-level talks with officials from Korea on bilateral and international issues of common interest and to attend the 10th Joint Committee meeting with the Korean government officials. Speaking at an exclusive interview with The Korea Post media at the Embassy of Tunisia in Seoul on March 13, 2018, Ambassador Abed also disclosed, “Next year, we will celebrate the 50th anniversary of diplomatic relations established in 1969 between Tunisia and Korea and we hope on this occasion that the two countries will intensify the exchange of visit at high level to testify the excellent and profound relations between the two countries while also enhancing the bilateral cooperation, mainly at the economic and commercial level.”

‘Ghana has nice environment for Korean, other international investors’

Ambassador Difie Agyarko Kusi of Ghana in Seoul said that her country is pursuing program creating a favorable business environment through creating attractive environment for foreign investment, re-opening markets for Ghanaian goods and services, and linking Ghanaian businesses with foreign counterparts, the Korean businesses in particular.Speaking at a gala reception she hosted at the plush Grand Hyatt Seoul on the night of March 6, 2018 in celebration of the 61st Independence Day of her country of Ghana, Madam Kusi then emphasized, “The Government of Ghana expects that the Korean government, corporate institutions and business executives will continue to open more avenues for deepening the excellent relations of brotherliness and cooperation which so happily exist between the two countries for their mutual prosperity.”



S. Korea Mulls One-day Inter-Korean Summit

The presidential office is considering a one-day summit for the planned meeting between the leaders of South and North Korea.A senior presidential official told reporters on Friday that the matter will be decided through discussions by the organizing committee and working-level consultation with North Korea, but the summit is likely to be a one-day meeting.The previous inter-Korean summit talks in 2000 and 2007 were both held for three days in Pyongyang.However, the official did not rule out the possibility of holding a two-day or three-day summit next month after working-level discussions with North Korea.When asked about when the two Koreas will hold working-level talks, the official said that the matter has not been decided yet but such talks will likely be held soon.The official added that setting up a hotline between the leaders of the two Koreas will also be discussed at the working-level talks.

S. Korea, US Hold Third Round of FTA Talks

South Korea and the United States held a third round of talks in Washington on Thursday to revise their bilateral free trade agreement(FTA).South Korea was represented by Yoo Myung-hee, the Trade Ministry's director general for FTA negotiations while the U.S. was represented by Assistant Trade Representative Michael Beeman. As the U.S. moves to use the steel tariffs as leverage to draw a better deal in the FTA talks, South Korea sought to achieve a balance of interests in the trade deal itself, while seeking an exemption from the steel tariffs.During the talks, the South Korean chief negotiator asserted that the U.S. move to slap heavy tariffs on steel imports is unfair following its safeguard measures on South Korean washing machines and solar panels. Washington repeated its calls on Seoul to ease non-tariff trade barriers in the auto sector and toughen country-of-origin regulations.

White House Dismisses Speculation about Problems with Summit Preparation

The White House has dismissed speculations that President Trump's dismissal of his top diplomat Rex Tillerson will cause problems in preparing for his summit with North Korean leader Kim Jong-un.White House press secretary Sarah Huckabee Sanders said during a news briefing on Thursday that she is certain that there is no vulnerability in preparing the summit talks.Regarding Trump's decision to replace Tillerson with CIA Director Mike Pompeo, Sanders said that the president wants to appoint the right person at the right position at the right time.As for media reports that the U.S. has set up a working group to prepare for the summit, the spokeswoman refused to elaborate, simply saying officials are proceeding with the process.


Yonhap (

S. Korea, U.S. hold 3rd round of FTA talks

South Korea and the United States were holding a third round of talks Thursday to amend their free trade agreement as Washington took a series of protectionist actions.The two sides, led by senior trade officials, met at the U.S. Trade Representative's office in Washington to continue negotiating terms for a new trade pact that will address U.S. complaints about a widening deficit and alleged unfair trade in the auto sector.U.S. President Donald Trump has slammed the 2012 agreement as a bad deal that cost American jobs and hurt the manufacturing sector. South Korea has countered that the agreement benefited American services and agriculture.The talks were led on the South Korean side by Yoo Myung-hee, a deputy minister for FTA negotiations at the Ministry of Trade, Industry and Energy, and on the U.S. side by Assistant Trade Representative Michael Beeman.

N.K. media reports foreign minister's trip to Sweden

North Korea's foreign minister has left for Sweden to meet with his Swedish counterpart to discuss bilateral ties and issues of mutual concerns, the country's state media reported Friday.Ri Yong-ho's trip, confirmed by the North's state news agency, comes amid speculation that the North and the United States may meet in Sweden ahead of a proposed summit between U.S. President Donald Trump and North Korean leader Kim Jong-un.The Korean Central News Agency (KCNA) said in a short dispatch that Ri, who left Pyongyang on Thursday, will meet with Swedish Foreign Minister Margot Elisabeth Wallstrom to exchange views on ties and matters of mutual interests.Sweden's foreign ministry said, "The talks will focus on Sweden's consular responsibilities as a protecting power for the United States, Canada and Australia.

S. Korea, Vietnam hold public diplomacy forum ahead of Moon's visit

South Korea and Vietnam have reaffirmed their commitment to further develop their cooperation, in a public diplomacy forum ahead of President Moon Jae-in's visit to the Southeast Asian nation, the foreign ministry here said Friday. Park Enna, South Korea's ambassador for public diplomacy, Nguyen Quang Thuan, president of the Vietnam Academy of Social Sciences, and some 100 other officials, academics and journalists participated in the conference in Hanoi on Thursday. Moon will begin a three-day visit next Thursday for a summit with President Tran Dai Quang.In the forum, the two sides agreed to further develop their rapidly growing ties of the past 25 years, according to the ministry.


The Korea Herald (

Ex-President Lee admits to receiving illicit money from state spy agency

Former President Lee Myung-bak admitted to receiving $100,000 from the state spy agency through his former presidential aide while in office, but refused to disclose how the money was used, according to the prosecution.Lee denied other corruption allegations against him and returned home in the early hours of Thursday, after a marathon overnight interrogation by the prosecution that had begun the previous morning. The prosecution suspects the National Intelligence Service secretly paid some 1.75 billion won from its audit-free “special activities” account to Lee and his presidential officials. While Lee is unlikely to be summoned again, the prosecution will decide whether to request an arrest warrant for him next week, as he could be considered a risk for destroying evidence. They will also choose the date to indict him.

Kang leaves for US to discuss upcoming summits

Foreign Minister Kang Kyung-wha left for Washington on Thursday to meet US officials for discussions on North Korean issues as Washington and Pyongyang prepare for a historic summit in May. Kang plans to meet acting Secretary of State John Sullivan, Ivanka Trump, senior adviser to her father President Donald Trump, and key congressional leaders including Paul Ryan, speaker of the House of Representatives, in Washington, according to the Foreign Ministry. They are expected to discuss recent developments on the Korean Peninsula and details of upcoming summits of their respective presidents -- Moon Jae-in and Donald Trump -- with North Korean leader Kim Jong-un.

FSC to toughen governance rules for financial firms

South Korea’s Financial Services Commission announced Thursday a set of plans to strengthen corporate governance rules for financial firms here, mainly to tackle a lack of transparency in nomination processes for chiefs at local banking firms.The plans to revise the Act on Corporate Governance of Financial Companies, to be proposed by June, aim to prohibit the incumbent chief of a financial firm from joining an internal committee to nominate outside directors. It would also obligate outside directors to make up over two-thirds of the committee. If an outside director of a financial firm serves more than a second term, the firm will be required to carry out an external screening for the person’s eligibility, according to the plans. A financial firm will also be mandated to disclose to the public a set of requirements for its new chief executive before the nomination of a new CEO takes place.


The Korea Times (

Nobel Peace Prize for this guy?

If there could be lasting peace on the Korean Peninsula after two summits by the end of May, all three protagonists ― President Moon Jae-in, U.S. President Donald Trump and, yes, North Korea's young dictator Kim Jong-un ― would deserve a piece of this year's Nobel Peace Prize. True, we would have moral reservations about giving them the award. Receiving the greatest objections would be Kim, the grandson of the North's founder, Kim Il-sung, who led a southern invasion at the start of the 1950-53 Korean War. The third-generation dictator in the anachronistic dynasty has demonstrated his disdain for human rights, with gulags, cold-blooded purges and mass killings.

Moon-Kim summit prep kicks in

Cheong Wa Dae signaled Thursday that it will focus on preparing for the upcoming inter-Korean summit, unveiling a preparation committee studded with key officials. Presidential chief of staff Im Jong-seok will lead the committee and Unification Minister Cho Myoung-gyon will assume an assisting role in preparing for the meeting between South Korean President Moon Jae-in and North Korean leader Kim Jong-un at the truce village of Panmunjeom in late April.Other committee members include National Security Office (NSO) chief Chung Eui-yong, presidential chief of staff for policy Jang Ha-sung, Foreign Minister Kang Kyung-wha, Defense Minister Song Young-moo, National Intelligence Service (NIS) Director Suh Hoon and Minister of the Office for Government Policy Coordination Hong Nam-ki.The committee will be divided into three sub-units, one to prepare the agenda for the summit, one to promote it and one to organizing the meeting.

North Korean media reports foreign minister's trip to Sweden

North Korea's foreign minister has left for Sweden to meet with his Swedish counterpart to discuss bilateral ties and issues of mutual concerns, the country's state media reported Friday.Ri Yong-ho's trip, confirmed by the North's state news agency, comes amid speculation that the North and the United States may meet in Sweden ahead of a proposed summit between U.S. President Donald Trump and North Korean leader Kim Jong-un.The Korean Central News Agency (KCNA) said in a short dispatch that Ri, who left Pyongyang on Thursday, will meet with Swedish Foreign Minister Margot Elisabeth Wallstrom to exchange views on ties and matters of mutual interests.Sweden's foreign ministry said, "The talks will focus on Sweden's consular responsibilities as a protecting power for the United States, Canada and Australia."They will also address the security situation on the Korean Peninsula, which is high on the Security Council agenda," it said in a statement posted on its website.


Chosun Ilbo (

U.S. Expert Warns Against N.Korean Denuclearization Pledges

A U.S. nuclear security expert has warned that any promise by North Korea to freeze its main nuclear facility would be largely meaningless.David Albright of the Institute for Science and International Security told Voice of America on Thursday that the U.S. should not accept any proposal by North Korea to freeze its Yongbyon nuclear reactor in a bid to display its willingness to denuclearize.According to analysis by the institute, about half of the North's nuclear materials and equipment, including enriched uranium and centrifugal separators, are at a location other than Yongbyon, he said. He added that freezing the Yongbyon facility would therefore be meaningless unless the North discloses where the rest is. Verification of any denuclearization pledge should begin with the identification of the location and inspection of its nuclear production facilities, he said.

Fresh Candidates Mooted as U.S. Ambassador to Seoul

Former U.S. Forces Korea commander James Thurman and Ed Royce, the chairman of the U.S. House Committee on Foreign Affairs, are being mentioned as candidates for U.S. ambassador to Korea, a post that has been vacant for over a year, the South China Morning Post reported Wednesday. Selection for the post hit yet another snag last month, when the White House abruptly dumped Victor Cha, who had already been granted agrément by Seoul, over a policy disagreement. Thurman and Royce were part of the U.S. delegation to the closing ceremony of the Winter Olympics in Pyeongchang, which was headed by President Donald Trump's daughter Ivanka. "White House officials are 'talking about' the pair, although no decision has been made yet," the Hong Kong daily quoted a source as saying.

Food Delivery App Tests Self-Driving Robot

Woowa Brothers, which operates a mobile app for food-delivery services, has developed a self-driving delivery robot. The robot will start dropping off meals indoors on a trial basis as early as May, with the service gradually expanding to outside deliveries."Dilly," coined from the words "delicious" and "delivery" was developed jointly with Korea University professor Chung Woo-jin. It looks like a vacuum cleaner at 70 to 80 cm tall and rounded with three compartments, scurrying about on little wheels once the destination has been punched in.It is equipped with software that helps it determine its location and detect obstacles. It can travel at the same speed as a human walking or about 4 km/h.The robot will undergo a three-stage test before the actual run, with the first trial service starting in a food court in May where Dilly will serve meals and collect trays. It will then start working on university campuses and in apartment complexes in the second half of this year.


HanKyoReh Shinmun (

Lee’s repeated denials of wrongdoing undercut his dignity as a former president

On Mar. 14, former president Lee Myung-bak finally appeared at the prosecutors’ office for questioning. Five years after leaving office in Feb. 2013, Lee had to face the flashbulbs in front of the prosecutors’ office over allegations of accepting bribes worth more than 10 billion won (US$9.4 million), embezzling 35 billion won (US$32.9 million) and millions of dollars worth of tax evasion. During the questioning by prosecutors, Lee reportedly denied most of the charges against him, claiming to be unrelated to DAS and ignorant that his closest associates were accepting money illegally.Those closest associates have testified that DAS belongs to Lee, and all the people who were either delivering or accepting bribes have said that Lee was behind them – yet Lee continues to project ignorance. Lee has not changed at all from the presidential election in 2007, more than a decade before, when he said that the various allegations about DAS were “flagrant lies.”

Trump’s imposition of trade barriers rendering the KORUS FTA obsolete

“The Government of the Republic of Korea… and the Government of the United States of America… recognizing their longstanding and strong partnership, and desiring to strengthen their close economic relations… [seek] to reduce or eliminate the barriers to trade and investment… [and] to avoid creating new barriers to trade or investment between their territories that could reduce the benefits of this Agreement.” This was the goal of establishing a bilateral free trade zone as elaborated in the preamble of the Korea-US Free Trade Agreement (KORUS-FTA), which took effect on Mar. 15, 2012.

Increased role for SMEs pushed amid climate of inter-Korean reconciliation

SMEs should be given a larger role in the Moon Jae-in administration’s initiative of a “New Economic Map” for the Korean Peninsula amid a mood of reconciliation with Pyongyang, many are increasingly arguing. Speaking at a panel discussion on the afternoon of Mar. 14 at the headquarters of the Korea Federation of SMEs (K-Biz) in Seoul’s Yeouido neighborhood, K-Biz chairman Park Sung-taek stressed the important role played by SMEs in past inter-Korean economic cooperation, suggesting that their “experience with inter-Korean economic cooperation over the past 26 years could be used to increase points of contact for inter-Korean exchange and contribute to building of the three ‘economic belts’ on the Korean Peninsula.”The discussion on an “SME-centered Korean Peninsula New Economic Map” was co-organized with the Ministry of Unification, with support from the Presidential Committee on Northern Economic Cooperation.


JoongAng Ilbo (

Blue House starts summit preparations

Presidential Chief of Staff Im Jong-seok will head a preparatory committee for the summit between President Moon Jae-in and North Korean leader Kim Jong-un, presidential spokesman Kim Eui-kyeom said Thursday. The two leaders are scheduled to meet at the Peace House on the southern side of Panmunjom in late April. The committee has eight members including Im. Unification Minister Cho Myoung-gyon will act as the committee’s general secretary. Other members are Chung Eui-yong, chief of the National Security Office at the Blue House; Jang Ha-sung, policy chief of the Blue House; Foreign Minister Kang Kyung-wha; Defense Minister Song Young-moo; National Intelligence Service (NIS) Director Suh Hoon and Hong Nam-ki, minister of the Office for Government Policy Coordination.

Gov’t spends big to reduce rate of youth unemployment

The government Thursday unveiled a grand plan to combat youth unemployment that includes a 4 trillion won ($3.7 billion) supplementary budget and financial aid equivalent to 10 million won a year to help young people get jobs at small and medium-sized enterprises (SMEs). Finance Minister Kim Dong-yeon said the government is planning to fund the supplementary budget with the 2.6 trillion won budget surplus on top of a 1 trillion won special government fund. “Roughly it would be around 4 trillion won,” Finance Minister Kim said at a press briefing. “The size of the supplementary budget is important, and the context is equally important. We will find businesses that would be most effective in the field.”Kim said the government increased its total spending last year to a level that didn’t hurt the fiscal soundness of the country.

President fires unfairly hired casino employees

President Moon Jae-in ordered the firing of all 226 Kangwon Land employees who landed their jobs through unfair processes and due to their connections with powerful figures. “President Moon Jae-in today ordered the government to take swift and thorough measures against employment-related corruption at public organizations, best known through the Kangwon Land case,” Blue House spokesman Kim Eui-kyeom told a press briefing Thursday. Kim added that the Ministry of Trade, Industry and Energy, which controls Kangwon Land, will immediately begin the process of dismissing the 226 employees. The move comes months after a government probe late last year uncovered unfair hiring practices at the country’s only casino that welcomes Korean gamblers. Kangwon Land didn’t take any measures to punish the guilty even after prosecutors and the Ministry of Trade, Industry and Energy uncovered evidence of tampered interviews and crooked application evaluations.


The KyungHyang Shinmun (

Lee Myung-bak Stands Before the Law: Apologized to the People, But Denied Allegations

Former President Lee Myung-bak (77) appeared before the Prosecution Service and was questioned as a suspect on bribery charges on March 14. This happened five years after he retired as the president in February 2013. Lee has become the fifth former president to be questioned by prosecutors after his retirement following former presidents Roh Tae-woo, Chun Doo-hwan, Roh Moo-hyun and Park Geun-hye. Reportedly, former President Lee denied his involvement and instructions on most of the charges including bribery during the questioning this day. The questioning continued late into the night after it began at 9:50 a.m. Lee is suspected of seventeen charges including bribery. He allegedly received a total of 11 billion won when Samsung Electronics paid for the legal fees of DAS and when the National Intelligence Service (NIS) provided him with the agency's budget for special activity expenses. Lee is also suspected of embezzlement and misappropriation of over 30 billion won of slush funds from DAS, abuse of authority in his involvement in the DAS trial as the president, and tax evasion by possessing a multiple number of real estate under another name. The former president generally denied the charges against him in the questioning this day. A representative of the Prosecution Service said, "I think we can say that there were no charges that he acknowledged." The former president also made a statement implying that he was not the owner of DAS, which the Prosecution Service has concluded as the former president's company owned under another name, and that he had never been involved in the management of the company.

Sudden Dismissal of Tillerson Should Not Affect NK-US Talks

Trump explained the reason for his decision saying, "we disagreed on things." However, this doesn't seem sufficient for a reason to replace the chief of foreign affairs right before a historical summit. It seems suspicious even when we think of this as the presidential appointment of the unpredictable Trump. It is also troubling because Pompeo, appointed to succeed Tillerson, who favored a diplomatic resolution to the North Korean nuclear issue, is a hardliner when it comes to North Korea. He had constantly stressed the replacement of the North Korean regime and military options as the solution to the North Korean problem including its nuclear program, while showing a negative response to dialogue. The appearance of a foreign affairs chief who ignores the value of dialogue before a long waited opportunity to improve U.S. relations with North Korea somehow does not seem appropriate.

NK, US and China All Trying to Take Credit for Recent Progress

One of the most striking aspects of the recent transition toward dialogue in the political situation on the Korean Peninsula is that countries related to the North Korean nuclear issue all emphasize how their positive roles led the change. Despite that they are political rhetoric encouraged by their domestic situations, it is a positive phenomenon providing justification in terms of domestic politics and may be able to provide the drive to maintain this mood for dialogue. The United States is by far the most vocal in claiming that it led the talks. Day after day, President Donald Trump claims to have drawn North Korea to the table with "maximum pressure" including strong economic sanctions and warnings of military action.


AJU Business Daily (

President Moon orders removal of illegally employed workers at state casino

President Moon Jae-in ordered stern administrative action Thursday against 226 workers who landed jobs at Kangwon Land, the operator of a state casino resort for South Koreans, through illicit means.Moon's order came amid growing public calls for the elimination of irregularities in job recruitment. The liberal leader has promised to introduce a fair society by eradicating corruption and wrong practices.On Thursday, Moon called for quick measures to root out employment-related corruption at public organizations, saying public company chiefs who are passive in carrying out his order should take responsibility, the president's office said.The government decided to sack all 226 workers who were illegally employed at the popular casino resort built in an abandoned mine town in Jeongseon some 170 kilometers (105 miles) east of Seoul. It is the only casino open to South Koreans.

Special forces members reject Italian knife as personal combat weapon

A military project to buy Italian knives for South Korea's special forces brigades has been shelved in a dispute over suitability for one-on-one duels.Military authorities have decided to conduct a complete enumeration survey of soldiers after canceling a scheduled auction this week to select a "Survival Knife" provider, military officials said, adding a free contract would be held, reflecting the opinion of actual users.There have been complaints among experts and special forces brigade members since FOX Knives of Italy was selected as a strong candidate last year. For a test run, a FOX Knives model was handed out to 200 soldiers in November.However, many soldiers agreed the selected Italian knife was not suitable for duels mainly because of its hollow and thick cylindrical hilt that contained a wire cutter and several other small survival tools inside. Military experts think the demand for unnecessary functions inside the hilt led to a high price and weak durability. The special warfare command has upgraded weapons and equipment for its members.

U.S. commander opposes troop pullout

North Korean leader Kim Jong-un would do a "victory dance" if the United States pulled its troops from South Korea, a top U.S. military commander said Thursday.Admiral Harry Harris, chief of the U.S. Pacific Command, was offering his assessment of how Kim would respond in the event the U.S. succumbed to the North's longstanding demand to remove its 28,000 troops from the South.'"I believe he would do a victory dance," Harris told the Senate Armed Services Committee. "I think he'd be a happy man if we abrogated our alliance with South Korea."The United States has stationed troops in the South to deter North Korean aggression since the 1950-53 Korean War ended in an armistice, not a peace treaty. On Wednesday U.S. President Donald Trump seemed to hint at withdrawing them if Seoul failed to address Washington's trade deficit with the Asian ally.


Maeil Business News Korea (

KDB mulls short-term loans to GM Korea on condition

South Korea’s state-run Korea Development Bank (KDB) agreed to provide short-term loans to the Korean unit of General Motors if the U.S. automaker faithfully complies with due diligence. The bank said Wednesday it is willing to extend short-term bridge loans to GM Korea up to an amount equivalent to its 17 percent stake in the company. The actual amount of the funding could change depending on future financial conditions. The financing will be secured by accounts receivable, or payment due to GM Korea by its customers. KDB stressed it would lend only on the condition that the Detroit-based carmaker fully cooperates with due diligence. The state lender has been complaining that the company is withholding important materials. GM Korea’s bottom line has reportedly been hurt by excessively high fees charged by the headquarters on funding and parts supplies.

Doosan Heavy’s $940 mn order to build power plant in Philippines cancelled

South Korea’s Doosan Heavy Industries & Construction Co.’s nearly 1 trillion won ($940 million) deal to build a coal-fired power plant in the Philippines has been cancelled two years after it signed the initial contract with Redondo Peninsular Energy Corp. in October, 2016. The top Korean power plant equipment maker said in a regulatory filing on Wednesday that its engineering, procurement, and construction (EPC) contract to build a coal-fired power plant for Redondo Peninsular Energy in the Philippines is no longer effective after the Filipino company terminated the 952.3 billion won contract and officially notified Doosan Heavy Industries & Construction its termination on Tuesday. Shares of Doosan Heavy Industries & Construction lost 3 percent, or 450 won, to 14,700 won on Thursday from a day ago.

Samsung Electronics files for largest number of AI chips patents: Kipo

The number of patent application in the artificial intelligence (AI) chips sector has quadrupled globally over the past two years, with South Korean tech giant Samsung Electronics Co. becoming the most active applicant share among others, the Korean Intellectual Property Office (Kipo) said on Thursday. According to Kipo, the number of patent filing in the AI chips sector soared globally from 77 in 2015 to 391 last year. By company and organization, Samsung Electronics Co. registered the largest 199 patents or 24 percent of the total, followed by Qualcomm Inc. with 59 patents (7.1 percent), Korea’s Electronics and Telecommunications Research Institute with 36 patents (4.3 percent), and Korea Advanced Institute of Science and Technology with 23 patents (2.8 percent).


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