The Korean daily media headlines and humor
The Korean daily media headlines and humor
  • Lee Kyung-sik
  • 승인 2018.05.08 10:33
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The Korean daily media headlines and humor

Friday, May 4, 2018

Your Excellency:

What’s ticking in Korea and around the world today?

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


The Korea Post media

P.S.: If the Headlines are no longer desired, please advise us at: or

‘Trump ordered Pentagon to consider downsizing of US troops in Korea’

United States President Donald Trump has ordered the Pentagon to review downsizing American troops stationed in South Korea, a U.S. news report said Friday.

The president told the Department of Defense to "prepare options for drawing down American troops in South Korea" in the run-up to his landmark summit with North Korean leader Kim Jong-un in the following weeks, the New York Times reported. The news outlet cited several people briefed on the order.

The downsizing is not designed as a "bargaining chip" in Trump's talks with Kim, but a peace treaty between the two Koreas could diminish the need for the presence of more than 20,000 American soldiers on the South side of the Korean Peninsula, the report said.

(For further details, visit:


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

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

S. Korean presidential aide secretly visits U.S. ahead of Trump-Kim meeting

South Korea's top national security adviser is currently in the United States for discussions on an upcoming summit between U.S. President Donald Trump and North Korean leader Kim Jong-un, an official from Seoul's presidential office Cheong Wa Dae said Friday.Chung Eui-yong, chief of the presidential National Security Office, headed to Washington on Thursday at the request of the White House National Security Council, the Cheong Wa Dae official told reporters, while speaking on condition of anonymity."The NSC asked for Chung's visit to discuss the North Korea-U.S. summit," the official said, adding the U.S. had asked the South Korean official not to disclose his U.S. trip.

Exports of 8 steel goods to U.S. impossible due to quotas

Exports of some South Korean steel products to the United States are impossible this year as they have already filled yearly U.S. import quotas, Seoul's commerce ministry said Friday.The U.S. Customs and Border Protection (CBP) has recently disclosed a set of detailed customs clearance procedures to enforce the U.S. presidential decree on Section 232 of the Trade Expansion Act of 1962, which is aimed at protecting U.S. companies.According to the CBP disclosure, it is out of the question for South Korean steelmakers to export eight products out of the total 54 to the world's largest economy due to already filled import quotas.The eight steel products include steel pipe piles, cold-rolled stainless steel and tool steel.

More S. Koreans strive to live plastic-free

Bae Min-ji's ordinary day begins by boiling tap water to drink. The 29-year-old takes a shower using just a single bar of soap and brushes her teeth with a powdered toothpaste.With a tumbler, small cloth bags, a spoon and chopsticks, she is ready to leave the house and live another plastic-free day.Bae uses her tumbler to drink water or coffee when she is out, asks eateries not to provide disposable wooden chopsticks when she orders delivery food and shops at a traditional market on her way back home to avoid the plastic packaging that abounds in supermarkets. She instead uses her cloth bags to carry fruit and vegetables.Just three years ago, Bae -- who is now the editor-in-chief of Ssssl, an independent magazine focusing on minimizing waste -- never imagined she would one day be striving to live without plastic waste.Bae was a store manager at a local pizza franchise surrounded by countless disposable boxes and plastic coke bottles.



White House: N. Korea's Release of Detained Americans Would be Sign of Good Will

Amid speculation that three Americans detained in North Korea will soon be released, the White House said Thursday that such movements are positive signs sent by North Korea ahead of its summit with the U.S.White House Press Secretary Sarah Huckabee Sanders was asked during a news briefing Thursday to confirm remarks by former New York Mayor Rudy Giuliani who recently joined the White House legal team, that Pyongyang was releasing three prisoners.Sanders said she can’t confirm the reports but added that Washington would see the detainees’ release as “a sign of goodwill” ahead of discussions between President Trump and Kim Jong-un.Sanders’ remarks came a day after Trump tweeted that “the past administration has long been asking for three hostages to be released from a North Korean Labor camp, but to no avail,” then adding “stay tuned!”

Ministers to Visit NLL Saturday to Mull Creating Maritime Peace Zone

Four ministers will visit islands near the Northern Limit Line(NLL) in the Yellow Sea as a first step to turning the area into a peace zone in accordance with the Panumjeom Declaration. Defense Minister Song Young-moo, Unification Minister Cho Myoung-gyon, Foreign Minister Kang Kyung-wha and Oceans and Fisheries Minister Kim Young-choon will make the visit on Saturday. They will inspect the islands of Baengnyeong and Yeonpyeong and receive briefings at Navy and Marine bases located there. The ministers plan to devise a plan to create joint fishing zones with the North before meeting with fishermen of the two islands and gathering their opinions. Under the Panmunjeom Declaration signed during last week’s inter-Korean summit, the two Koreas agreed to devise a practical scheme to turn the areas around the NLL into a maritime peace zone in order to prevent accidental military clashes and guarantee safe fishing activities.

KCNA: Kim Jong-un Holds Talks with Chinese Foreign Minister

North Korea’s state-run news agency says leader Kim Jong-un met with Chinese State Councilor and Foreign Minister Wang Yi on Thursday. The Korean Central News Agency said Friday that Kim warmly greeted Wang and expressed joy meeting him again after a month. The report said that Kim and Wang discussed the issue of improving Pyongyang-Beijing relations and cooperation as well as the direction and outlook of situations on the Korean Peninsula. The report said that Kim reaffirmed North Korea and China’s stances on key issues and expressed deep satisfaction. Wang's visit to the North came after President Moon Jae-in and Kim held a historic summit last Friday. It was the first visit to North Korea by a Chinese foreign minister in eleven years.


Yonhap (

Moon's adviser denies he called for withdrawal of U.S. troops

A special adviser to South Korean President Moon Jae-in denied Thursday that he called for the withdrawal of U.S. troops from the South.Moon Chung-in, who serves as a foreign policy and national security adviser, sparked controversy this week after he argued that it will be "difficult to justify" the U.S. Forces Korea's continuing presence following the possible signing of a peace treaty between the Koreas.President Moon was quick to reject the idea, saying the troops' presence is a matter of the South Korea-U.S. alliance and has "nothing to do" with a peace treaty that would formally end the 1950-53 Korean War.The adviser's comment in the Foreign Affairs magazine came after the president and North Korean leader Kim Jong-un agreed in their summit last week to work toward a peace treaty by the end of the year."I am someone who is for (the USFK's stationing)," Moon Chung-in told reporters here while on a visit to the U.S. "I think the USFK's continued presence is desirable for the strategic stability of Northeast Asia and our own domestic political stability, even after a peace treaty is signed."

Four S. Korean tourists killed in car accident in Turkey

Four South Korean tourists have been killed and four others injured in a car accident in Antalya Province, Turkey, the foreign ministry said Friday. A rented mini bus carrying eight South Koreans bumped into a passenger van in Turkey's Kemer at around 2:30 p.m. on Thursday (Turkey time). Four of them were killed at the scene, and the other four were hospitalized for injuries.Two of the survivors were then sent home on the same date, but the other two are still undergoing treatment, according to the Ministry of Foreign Affairs. The South Korean Embassy in Turkey has immediately requested the local government and the police agency's support for dealing with the aftermath of the accident and is currently providing consular services to the victims and their families back home, it said.

Exports of 8 steel goods to U.S. impossible due to quotas

Exports of some South Korean steel products to the United States are impossible this year as they have already filled yearly U.S. import quotas, Seoul's commerce ministry said Friday.The U.S. Customs and Border Protection (CBP) has recently disclosed a set of detailed customs clearance procedures to enforce the U.S. presidential decree on Section 232 of the Trade Expansion Act of 1962, which is aimed at protecting U.S. companies.According to the CBP disclosure, it is out of the question for South Korean steelmakers to export eight products out of the total 54 to the world's largest economy due to already filled import quotas.The eight steel products include steel pipe piles, cold-rolled stainless steel and tool steel.


The Korea Herald (

Panmunjeom Declaration resembles 2007 inter-Korean declaration, made progress on denuclearization issue

To better understand the joint Panmunjeom Declaration signed at a historic inter-Korean summit last week, it is helpful to look into the declaration of the 2007 summit, which many say bears a striking resemblance to the latest joint statement. Experts are divided over whether the declaration signed on April 27 at the two Koreas’ third summit showed any progress in tackling the standoff over North Korea’s nuclear weapons program. But many seem to agree that the Panmunjeom Declaration inherits or recycles many parts of the 2007 declaration in terms of pledges to end the Korean War, build a peace regime and expand cross-border exchanges. A major difference this time is the stipulation of “complete denuclearization” in the declaration, despite criticisms that it, lacking specific details, did not go beyond showing the two Koreas’ vague commitment to denuclearization.

S. Korea military seeks to cut service period to 18 months

With the two Koreas seeking to ease cross-border tensions following the inter-Korean summit last week, the South Korean Army’s mandatory military service is expected to be cut from 21 to 18 months before 2022 when President Moon Jae-in’s five-year term ends. According to the Ministry of National Defense, the military will submit such plans to Moon this month. On the campaign trail, Moon pledged to cut the period of military service and the number of troops. If the measures take effect, the Army will see its enlisted soldiers serve 18 months by 2022. In order to achieve the goal, the reduced service time should be applied starting with those joining the military in 2020, military officials said.

Matching curiosity with purpose in DNA analysis

As genome sequencing costs have drastically dropped in the past few years, numerous startups have begun offering direct-to-consumer DNA analysis services through which individuals can learn about their genes and related health markers with a saliva sample.Finding out about one’s genetic makeup certainly sounds interesting. But to get more people on board, there must be good reasons for why someone should receive a DNA analysis.A South Korean health technology startup has set out to address this question of “so what?” that has often undermined the utility aspect of personalized DNA analyses, with a service model of presenting concrete benefits and a clear-cut action plan to the end-user.


The Korea Times (

Gallucci: 'Lots of questions' over North Korea's denuclearization

Robert Gallucci, former chief U.S. negotiator on the North Korean nuclear crisis, on Thursday "welcomed" North Korean leader Kim Jong-un's commitment to denuclearization shown during his historic April 27 summit with President Moon Jae-in. But he remained cautious about Kim's definition of denuclearization, saying there are "still lots of questions" left unanswered. "I welcome North Korea's change ... right now we are in the right first step," said Gallucci, who is chairman of the U.S.-Korea Institute at John Hopkins University's School of Advanced International Studies (SAIS)."I don't want to downplay the deal struck between the two Koreas. But I'm not sure about denuclearization... what does denuclearization mean, what should we expect... still there are lots of questions."

Unification minister calls for regularizing inter-Korea summits

The leaders of the two Koreas need to meet regularly so rapprochement can lead to complete denuclearization of the Korean Peninsula, Unification Minister Cho Myoung-gyon said Thursday."I would say the most noteworthy outcome from last week's inter-Korean summit was the agreement to hold regular meetings between President Moon Jae-in and North Korean leader Kim Jong-un," Cho said in a keynote speech at The Korea Forum 2018 co-hosted by The Korea Times and its sister paper the Hankook Ilbo in Seoul."This is essential for the stable and sustainable development of inter-Korean relations as well as for nuclear disarmament on the peninsula."The forum, held under the theme, "From Crisis to Peace: Denuclearization of the Korean Peninsula and a New Order in Northeast Asia," featured in-depth discussions on the new order prevailing on the peninsula following last Friday's historical summit.

'Homogeneous Korea' may seem nationalistic

The most frequently used word by the leaders of two Korea during their summit last week was "minjok," or "ethnicity," which appeared over 30 times in speeches and texts. President Moon Jae-in and North Korean leader Kim Jong-un stressed "homogeneity" between the divided Koreas. In his welcoming speech, Moon quoted a North Korean poem: "Now we have met, let us not part again. If we repeat this history of pain and suffering again, the hearts of minjok will burst and die." Moon and Kim did not need a translator because they speak the same language. Kim's jokes instantly made South Koreans laugh out loud and reporters of the rival Koreas could share their note-takings. These are evidence of their similarity. However, the outside world could see it as ethno-nationalism."South Koreans like it as long as their individual interests are not hurt," said Professor Cho Jung-hun, head of Ajou Institute of Unification.


Chosun Ilbo (

N.Korea to Free American Citizens
North Korea has apparently agreed to release three American citizens ahead of a U.S.-North Korea summit this month.U.S. President Donald Trump tweeted on Wednesday, "As everybody is aware, the past administration has long been asking for three hostages to be released from a North Korean labor camp, but to no avail. Stay tuned!"Former New York Mayor Rudolph Giuliani, who joined the White House legal team recently, told Fox News on Wednesday, "We've got Kim Jong-un impressed enough to be releasing three prisoners today."A group of American negotiators who went to the North recently will take them home.The three men have already been moved from a prison camp to a hotel outside Pyongyang, according to sources quoted by Choi Sung-ryong, an activist for South Koreans with family members abducted by the North.All are of South Korean descent. Kim Dong-chul, a pastor, was arrested for proselytizing in the Rajin-Sonbong special economic zone in October 2015.

Tough Times for Korean Automakers
The Korean car industry is suffering from slumping domestic and foreign sales, intensifying competition from Chinese rivals, rising wages and a strengthening Korean won. The market shares of Korean automakers keep dropping in the U.S. and China, while imported cars are grabbing a bigger slice of the Korean market each year.Hyundai's operating profit in the first quarter of this year nearly halved on-year to W681.3 billion (US$1=W1,076). GM Korea's domestic sales plunged 50 percent for three months running, while Ssangyong's sales fell 3.9 percent last month compared to March. In the U.S., Hyundai and affiliate Kia's combined first-quarter sales fell seven percent and 14 percent compared to the same period of 2017 and 2016. The reason was their failure to shift their model lineup to respond to the growing craze for SUVs and other recreational vehicles.

Neighbors to Urge N.Korea to Denuclearize
South Korea, China and Japan will issue a declaration urging North Korea to denuclearize at their summit in Tokyo on May 9, Japanese media reported Wednesday.The three countries are "considering demanding in the declaration the complete, verifiable and irreversible dismantlement of North Korea's nuclear weapons and ballistic missiles," the Yomiuri Shimbun wroteThey will put in a phrase urging Pyongyang to "take concrete actions" now North Korean leader Kim Jong-un has in principle said that he willing to abandon his nuclear program.But the three neighbors are still fine-tuning their views on economic sanctions against Pyongyang. South Korea and Japan are in favor of keeping up the maximum pressure until the North denuclearizes completely, while China favors lifting sanctions gradually in keeping with progress.Meanwhile, the three countries will also commit to a trilateral free trade agreement, strengthening economic ties and expanding exchanges.


HanKyoReh Shinmun (

President Moon Jae-in emphasizes presence of US troops in South Korea unrelated to signing of inter-Korean peace treaty

On May 2, South Korean President Moon Jae-in categorically stated that the question of whether American troops would remain in South Korea after the signing of a peace treaty is ”completely unrelated to the signing of a peace treaty.” This appears to reflect President Moon’s determination to not give conservatives and progressives any excuse for bickering and to eliminate the possibility of misunderstanding leading up to the North Korea-US summit in May.“I will convey what President Moon personally said about the article about US Forces Korea by Moon Chung-in [a special advisor to the president on unification, foreign affairs and national security]. [President Moon] said that US Forces Korea are a matter concerning the South Korea-US alliance and that they are completely unrelated to the signing of a peace treaty,” Blue House spokesperson Kim Eui-kyum said during the briefing on the morning of May 2.

Declaring end of Korean War to be done by South and North Korea and US, Blue House says

The Blue House said it does not regard China’s participation as being absolutely necessary for its plan to declare the end of the Korean War this year. Even so, it emphasized that China has a major role to play in a peace treaty. The apparent plan for the Korean Peninsula peace process is for the declaration of the end of the war, which is of political significance, to be made by South Korea, North Korea and the US, and for the peace treaty, which is an institutional development, to be signed by those three parties along with China.“Declaring the end of the war is a political declaration about resolving hostile relationships, and it’s worth thinking about whether China needs to be a party to that,” a senior official at the Blue House said in a meeting with reporters on May 2. While China is a belligerent in the Korean War, in other words, it is necessary to consider that China has already resolved its own hostile relationships by establishing diplomatic relations not only with South and North Korea but also with the US.

South Korean government to review ways to pursue inter-Korean economic cooperation

Deputy Prime Minister and Minister of Strategy and Finance Kim Dong-yeon said the South Korean government is “considering various scenarios” for an inter-Korean economic cooperation system and related financial issues.But Kim also stressed that Seoul plans to “pursue things in a calm and orderly fashion while watching the North Korea-US summit and other agreements with the international community.”Speaking with regular beat reporters at the Sejong Government Complex on May 2, Kim said that the Panmunjeom Declaration at the Apr. 27 inter-Korean summit “marked an important first step toward the peace and prosperity of the Korean Peninsula.”“Cooperation between South and North Korea will lead to the use of physical and human resources and increased consumption and investment that will generate an economic synergy effect and improved quality of life for the South Korean people,” he said.


JoongAng Ilbo (

Pompeo alters wording on nukes

Mike Pompeo, the new U.S. secretary of state, declared on Wednesday that Washington is committed to the “permanent, verifiable, irreversible dismantling” of North Korea’s weapons of mass destruction program (WMD), introducing terminology that could indicate a more hard-line approach to denuclearization. “Right now, we have an unprecedented opportunity to change the course of history on the Korean Peninsula,” said Pompeo during his swearing-in ceremony at the State Department in Washington ahead of a high-stakes leaders’ summit between North Korea and the United States in the coming weeks. U.S. President Donald Trump also made his first visit to the State Department to take part in the ceremony, a conspicuous endorsement of Pompeo as his new top diplomat.

Assaulted and insulted firefighter loses her life

The death of a female firefighter has become a national issue after her colleagues came forward with accounts that a drunken man who physically and verbally assaulted her one month ago might have caused her death. Local authorities released CCTV footage of the attack on Wednesday, putting a spotlight on the very tough working conditions facing firefighters - and the emotional toll they can exact.The case revolves around Kang Yeon-hee, 51, a veteran firefighter at the Iksan Fire Station in North Jeolla, who was working on a paramedics team and had nearly 20 years of field experience. Kang died Tuesday, a week after being hospitalized following a cerebral hemorrhage. According to the Jeonbuk Fire Service, the North Jeolla branch of Korea’s fire safety headquarters, Kang approached a 48-year-old inebriated man surnamed Yoon who was lying unconscious in the middle of a road on April 2 at around 1 p.m. near a train station. As Kang and her co-workers moved Yoon to an ambulance and transported him to a nearby hospital, he punched Kang in the face and head at least six times and made offensive sexual comments.

Probe starts into 2015 disclosures by Elliott

Prosecutors resumed their investigation into Elliott Management and whether it violated public disclosure rules, escalating tensions between the activist American hedge fund and the Korean government. The probe by Seoul’s Southern District Prosecutors’ Office, announced late Wednesday, will look into whether the fund abided by the capital market law in 2015 when it raised its stake in Samsung C&T from 4.95 to 7.12 percent. The law requires a company to announce its holdings on an electronic disclosure system within five days of an acquisition if the combined amount is more than 5 percent of a stock. A controversial 2015 merger between Samsung C&T and Cheil Industries is in focus as the New York-based hedge fund began taking steps to sue the Korean government over its role in the deal. Elliott denied the nondisclosure allegation on Thursday, implying that the move was politically motivated.


The KyungHyang Shinmun (

President Moon, "US Forces Korea Is an Alliance Issue Unrelated to the Peace Agreement"
On May 2, President Moon Jae-in said, "The US Forces Korea is an issue of the ROK-US alliance. It has nothing to do with the peace treaty." He made it clear that the US Forces Korea would continue to be necessary even after the two Koreas sign a peace treaty ending the Korean War. The president expressed his position after the words of the special advisor to the president on unification, foreign affairs and security, Moon Chung-in, in his contribution to Foreign Affairs triggered controversy. Moon wrote, "What will happen to U.S forces in South Korea if a peace treaty is signed? It will be difficult to justify their continuing presence in South Korea after its adoption."In a press briefing this day, Cheong Wa Dae spokesperson Kim Eui-kyeom said, "I will deliver the words of President Moon on the comment about the U.S. forces in Korea by the special advisor to the president on unification, foreign affairs and security, Moon Chung-in," and released the comment made by the president during tea with his aides that morning. Kim added that Chief of Staff Im Jong-seok called Moon Chung-in and delivered the president's words asking him not to stir any confusion with the president's position. Earlier, President Moon had stated that North Korea had not requested the withdrawal of the US Forces Korea as a condition for complete denuclearization ahead of the April 27 inter-Korean summit.

"Declaration of the End of War by the End of This Year... No Intention to Exclude China"
On May 2, Minister of Unification Cho Myoung-gyon referred to the conversion from the armistice to a peace agreement stated in the Panmunjom Declaration, the outcome of the April 27 inter-Korean summit, and said, "I think it would be correct to understand the signing of the peace treaty as something that will occur at the final stage of denuclearization." Section 3 of Article 3 of the Panmunjom Declaration states, "North and South Korea will declare the end of war and convert the armistice agreement to a peace treaty," but the minister's words seem to suggest that the two Koreas will only finalize the declaration of the end of war by the end of the year. This day, the unification minister held a press conference at the Office of Inter-Korean Dialogue in Samcheong-dong, Seoul and explained that related parties would have to take time in signing the peace treaty, since it involved various factors. He further said, "There are a number of variables in how best to pursue the peace treaty in line with complete denuclearization, and it is difficult to state a single plan. After all, if we sign a peace treaty, we will also need other follow-up measures according to that treaty."

Even the Conservatives Want Peace and Stability on the Korean Peninsula
The April 27 inter-Korean summit has received overwhelming support from the conservatives as well as the progressives and the moderates. There are also signs that the equation, progressives prefer inter-Korean talks, while conservatives prefer a hardline stance against North Korea, will no longer stand. As the possibility of a peace system on the Korean Peninsula grows larger than ever before, the issue has been accepted as a universal agenda transcending ideology. The major opposition, the Liberty Korea Party, and its attempt to downplay the inter-Korean summit as a peace show disguise have been criticized for going against the interest and mood of the conservatives. A recent survey showed that the approval rating for the latest summit among the conservatives surpassed 80%. According to a survey that Hangil Research conducted on April 28-29, 81.6% of the conservatives approved of the Panmunjom Declaration. A survey by MBC and Korea Research Center conducted on April 29-30 also showed that 78.7% of conservatives evaluated the inter-Korean summit in a positive light.


AJU Business Daily (

Hyundai shipyard posts first quarter net loss

Hyundai Heavy Industries, the world's top shipbuilder, turned into the red in the first quarter of this year due to unfavorable business conditions such as the lack of work and foreign exchange losses.In its first-quarter earnings report on Thursday, the shipyard posted a net loss of 132 billion won (122 million US dollars), compared with a net profit of 114.1 billion won a year earlier.In the same period, a strong won, fixed costs and dwindling orders caused an operating loss of 123.8 billion won, shifting from a net profit of 141.5 billion won a year earlier. Sales fell 29.4 percent on-year to 3.4 trillion won.Hyundai Heavy officials cited fierce competition among global shipbuilders but they promised to maintain the shipyard's competitive edge by stepping up efforts to reduce costs and focus on value-added ships such as liquefied natural gas carriers. The shipbuilder predicted a substantial increase in the price of ships this year.

S. Korean biosimilar Herzuma on sale in Britain

Herzuma, an anti-cancer biosimilar produced by South Korea's biopharmaceutical group Celltrion, has been put on sale in Britain following approval from Europe's regulatory body.Celltrion Healthcare, the distribution wing of Celltrion, said Thursday that Herzuma, used to treat breast cancer, was officially launched in Britain. Herzuma based on Herceptin developed by Genentech, a subsidiary of Swiss pharmaceutical giant Roche was approved by the European Medicines Agency in February.The company said Herzuma would be launched in Germany and other European countries by June.In 2017, Celltrion's net profit rose to 403 billion won (375 million US dollars) from 221 billion won a year ago, helped by brisk sales of Remsima, a copy of Janssen Biotech's Remicade treating rheumatoid arthritis and Crohn's disease.

S. Korean consumers show mixed reaction to LG new smartphone

South Korean consumers expressed anticipation and curiosity at G7 ThinQ, the new smartphone of LG Electronics after it was showcased first in New York.The new flagship has everything the latest smartphone has to offer -- a 6.1-inch display with twice the maximum brightness of other ordinary phones, a dual-lens camera armed with AI and a Boombox feature which the phone turns any metal and wood object into a speaker which comes in contact with it.Just like its rivals such as Apple's iPhone and Samsung's Galaxy series, G7 is fitted with ThinQ, LG's AI platform, to provide convenient and easy user experiences. The phone can also control other home appliances such as TVs, refrigerators and washing machines.


Maeil Business News Korea (

Prosecutors launch probe on Elliott as Seoul govt faces damage lawsuit from the fund

The Korean prosecution has launched an investigation into activist fund Elliott Management on a charge filed two years ago from the financial watchdog after the U.S. company threatened to file a lawsuit against the government for its interference in the 2015 Samsung group merger. According to sources on Wednesday, the Seoul Southern District Prosecutors’ Office summoned some Elliott employees to question them on the breach of disclosure rules. It is the first time prosecutors acted upon the case referred to them by financial authorities in February 2016, suspecting the motive behind the fund’s stake raise in Samsung C&T prior to its merger with Cheil Industries.

Hyundai Heavy Industries logs loss in Q1 for two straight quarters

South Korea’s largest shipbuilder Hyundai Heavy Industries Co. on Thursday reported operating loss in the first quarter for two straight quarters due to a decline in orders and strengthening local currency. The company said in a regulatory filing that it posted an operating loss of 123.8 billion won ($115 million) on a consolidated basis for the January-March period. It was the second quarter in a row that the company reported an operating loss. The company’s bottom line also swung to loss on year that reached 132.1 billion won, and sales dropped 29.4 percent to 3.04 trillion won.

Samsung Group heir Lee on biz trip to Shenzhen

Jay Y. Lee, vice chairman of Samsung Electronics Co. and heir to South Korea’s top conglomerate Samsung Group, has headed to China as his second overseas destination upon release from prison in February. Lee left for Shenzhen Wednesday morning to meet with various Chinese companies at China’s special economic zone. It is reported that Kim Ki-nam, president of Samsung Electronics’ semiconductor division, Lee Dong-hoon, president of Samsung Display Co. and the electronics maker’s other key senior executives have accompanied Lee.


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