The Korean daily media headlines and humor

The Korean daily media headlines and humor

Friday, June 1, 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

/s/

Lee Kyung-sik

Publisher-Chairman

The Korea Post media

Director Mohamad Reduan Mohd Zabri of MIDA in Seoul (left) is seen holding a copy of The

Korea Post with Pubisher-Chairman Lee Kyung-sik.

Interview with Director Zabri of the Malaysian Investment Development Authority in Seoul

Malaysia looms large as an attractive investment target country

Director Mohamad Reduan Mohd Zabri of the Malaysian Investment Development Authority (MIDA) in Seoul said, “Hundreds of leading Korean companies have made Malaysia a part of their strategic location for investments and they include Lotte Chemical, Titan Malaysia, Samsung, Hanwha Q-Cells, CJ Bio Malaysia and POSCO Kiswire.” He said, “We continue to welcome more quality investments from Korea to leverage on the opportunities present in Malaysia and the ASEAN region.”

Speaking at a recent interview with The Korea Post media, established 33 years ago and now owning and operating 3 English hand 2 Korean-language media outlets, Director Mohd Zabri said disclosed that hundreds of Korea’s leading business companies are now very active in the promotion of economic cooperation between Korea and Malaysia while at the same time enjoying good business.

(For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=6709)

‘첨단기술, 지식산업, 자본 집약 산업, 기타 여러 분야에 한국기업 투자 환영’

주한 말레이시아 대사관 모하마드 리두안 모드 자브리 투자청장 인터뷰

[코리아포스트 이경식 발행인, 김형대/김수아 기자] 기술 수준이나 자본력 등 여려 면에서 한국 기업들의 경쟁력이 대단한 것으로 알려져 있다. 날로 격화되는 경쟁 속에서, 많은 한국 기업들이 해외 진출에 박차를 가하고 있다. 진출 대상국에는 중국 및 개발 도상에 있는 다른 나라들도 있고, 또 중진국 반열에 올라 있는 나라들도 많다. 그 중 말레이시아는 후자 군에 속하는 나라 같다.

그럼, 말레이시아는 어떤 한국기업의 투자를 원할까? 최근 코리아포스트(33년전 창간, 현재 영문3, 국문2개 매체발행)는 이 일을 전담하는 주한 말레시아 대사관의 모하마드 리두안 모드 자브리 말레이시아 투자청장을 만났다.

(For further details (of the Korean version), visit: http://www.koreapost.co.kr/news/articleView.html?idxno=36079)

Special note:

Commercial Counsellors at the Embassies wishing to have their interview published by the English and Korean publications of The Koreqa Post media (as in the case of the above story and pix), please send a request to: edt@koreapost.com and/or pub@koreapost.co.kr.

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

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

“Korea already part of India’s ‘Look East, Act East’ polices”

Commercial Officer Ms. Nayantara Dabariya at the Embassy of India in Seoul said: “Korea is already an integral part of India’s ‘Look East Policy’ and ‘Act East Policy’. India is moving very fast with over 7% growth rate which is higher than most other emerging market economies. We consider Korea as a partner country in accelerating the economic growth in India.” Commercial Officer Ms. Dabariya made the statement at a recent interview with The Korea Post media, owner and operator 3 English and 2 Korean-language mass communications media outlets in Seoul established 33 years ago.

S. Korea economy grows revised 1 percent in Q1: BOK

South Korea's economy grew at a slower-than-expected pace in the first quarter from three months earlier on sluggish construction and facilities investment, central bank data showed Friday. The country's gross domestic product (GDP) expanded 1 percent in the January-March period, rebounding from a 0.2 percent on-quarter contraction three month earlier, according to preliminary data from the Bank of Korea (BOK). The latest reading marks a slight decrease from an earlier estimate of a 1.1 percent expansion released in April.

S. Korea's exports jump 13.5 pct on-year in May

South Korea's exports spiked 13.5 percent in May from a year earlier, rebounding from a brief dip in the previous month, government data showed Friday. Outbound shipments reached US$50.98 billion last month, compared with $44.92 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports surged 12.6 percent on-year to $44.25 billion.

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

Pompeo: 'Real Progress' Made toward US-N. Korea Summit

U.S. Secretary of State Mike Pompeo says that the U.S. and North Korea made "real progress" toward a possible summit between their leaders. Pompeo made the remarks on Thursday in a news conference in New York after holding talks with Kim Yong-chol, vice chairman of the North's ruling Workers' Party's Central Committee. The pair also held a dinner meeting on Wednesday. Pompeo said that the two sides made real progress in the last 72 hours in terms of setting the conditions for a successful summit on June 12 in Singapore, but there remains a great deal of work to do.

N. Korean Official to Visit Washington to Deliver Kim's Letter to Trump

A top North Korean official will visit Washington on Friday to deliver a letter from leader Kim Jong-un to U.S. President Donald Trump. Trump told reporters on Thursday before leaving for Texas that a North Korean delegation in New York will visit Washington to deliver to him a letter from Kim, adding meetings to prepare for his potential summit with Kim have been "very positive." Trump said that although he doesn't know what the letter will say, he expects that it will be very positive.

Two Koreas Begin High-level Talks

South and North Korea have begun their high-level talks at the truce village of Panmunjeom. Ahead of departing for the talks on Friday, Unification Minister Cho Myoung-gyon told reporters that discussions will focus on ensuring the swift implementation of the agreements reached between the two Koreas' leaders in their recent summits, and to create a positive atmosphere for a potential U.S.-North Korea summit.

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

Korea proposes holding joint events in South to mark 2000 summit

North Korea on Friday proposed holding joint events in South Korea to mark the anniversary of the two Koreas' first ever summit in 2000, a unification ministry official said.

South Korea also proposed opening a liaison office in the North Korean border city of Kaesong as the first step to implement the agreements reached by their leaders in the April 27 summit. The North shared the need to open such an office as soon as possible, according to the official.

The proposals were exchanged at inter-Korean talks at the truce village of Panmunjom in the heavily fortified Demilitarized Zone that divides the Koreas. Its morning session ended after less than an hour, and they are to resume talks in the afternoon.

Hyundai launches i40 wagon face-lift to appeal to consumers

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Friday launched the face-lifted i40 wagon in the domestic market as part of its move to appeal to more consumers.

The estate car has been mainly sold in Europe along with the i30 hatchback. The upgraded model is expected to be shipped to European markets within this year, a Hyundai Motor spokesman said.

The upgraded i40 comes with 18-inch alloy wheels, a 7-inch infotainment system and a set of safety features such as high-beam assist, lane keeping assist and front crash avoidance systems, the company said in a statement.

SK E&C begins construction of Almaty beltway

Local builder SK E&C said Friday it held a groundbreaking ceremony for the construction of the Big Almaty Ring Road in Kazakhstan, a consortium project worth US$730 million.

The company is working with the Korea Expressway Corp. (KEC) and Turkish firms Alarko and Makyol to build the 66-kilometer beltway in Kazakhstan's largest city and former capital. The construction work includes 21 overpasses and eight intersections.

The 20-year build-operate-transfer project, agreed on in February, is comprised of 50 months of construction and 15 years and 10 months of operation and maintenance by the consortium before handing it over to the Kazakh government. SK and the Turkish companies will be in charge of engineering, procurement and construction, while the KEC will handle management.

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

N. Korea proposes holding joint events in South to mark 2000 summit

North Korea on Friday proposed holding joint events in South Korea to mark the anniversary of the two Koreas' first ever summit in 2000, a unification ministry official said.

South Korea also proposed opening a liaison office in the North Korean border city of Kaesong as the first step to implement the agreements reached by their leaders in the April 27 summit. The North shared the need to open such an office as soon as possible, according to the official.

Remains of thousands of Korean victims of Japan's forced labor yet to be repatriated

About 2,770 sets of remains belonging to Korean people forcibly brought to Japan to work for its factories and military during World War II have yet to be repatriated home, South Korean government officials said Friday. Japan ruled the Korean Peninsula from 1910 to 1945, a time during which historians say millions of Koreans were mobilized into forced labor. The remains have been retrieved and kept in 340 temples or cineraria across the neighboring country -- 480 in the Hokkaido and Tohoku region, 560 in the Kanto region, 200 in the Kinki region, 570 in the Chubu region, 220 in the Chugoku and Shigoku region and 740 in the Kyushu and Okinawa region -- South Korea's interior ministry said, citing data from the Japanese government.

Paris Baguette patissiers to be paid for past overtime work

Pastry chefs working for bakery franchise Paris Baguette will be paid a combined 8.6 billion won ($7.9 million) for past overtime work, industry officials said Friday, nearly one year after its hiring system became an issue with the government.

PB Partners, which handles employment of pastry chefs, posted an announcement on the online company bulletin, according to the officials. The payment will go to some 7,000 workers who were not given their overtime pay, they said. The sum, however, is 2.4 billion won less than the 11 billion won the labor ministry had initially calculated. The amount was adjusted down early this year.

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

North Korea suggests joint celebration of first inter-Korean summit in the South

North Korea suggested during high-level talks on Friday that the two Koreas hold a joint celebration of the anniversary of a historic 2000 inter-Korean summit this month in the South, an official in Seoul said. The meeting in the border village of Panmunjom in the demilitarized zone that separates North and South Korea is the latest in a flurry of diplomatic activity intended to salvage a thaw in relations with the isolated North. North Korea had called off a planned meeting with the South last month in protest against U.S.-South Korean air combat drills before South Korean President Moon Jae-in and North Korean leader Kim Jong Un revived it during a surprise second summit on Saturday.

North Korea should take bold step or things may get tragic: Pompeo

The United States and North Korea have made "real progress" toward a fruitful summit between their leaders on dismantling the North's nuclear weapons program, U.S. Secretary of State Mike Pompeo said Thursday. Pompeo held two days of meetings with a senior North Korean official in New York as both sides push to salvage a June 12 summit in Singapore between U.S. President Donald Trump and North Korean leader Kim Jong-un. "Through these series of meetings, I'm confident we're moving in the right direction," he said at a news conference, also mentioning parallel talks in Korea and Singapore. But the top U.S. diplomat was unable to say if it will be known by Friday whether the summit will happen. Trump called it off last week, citing "open hostility" from the regime, and then put it back on track.

North Korean delegation to meet Trump with Kim Jong-un's letter

U.S. President Donald Trump said a North Korean delegation in New York is expected to bring him a letter from leader Kim Jong-un on Friday. Trump told reporters Thursday before leaving for Texas that meetings to prepare for his potential summit with Kim have been "very positive." The two sides are pushing for a June 12 summit in Singapore to discuss dismantling North Korea's nuclear weapons program. "I believe they'll be coming down to Washington on Friday and a letter is going to be delivered to me from Kim Jong-un," he said. "So I look forward to seeing what's in the letter, but it's very important to them."

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

U.S. Negotiators Extend Stay in Seoul

U.S. negotiators who held two meetings with their North Korean counterparts in the truce village of Panmunjom have extended their stay in South Korea. The move raises speculation that more talks are needed to prepare for a North Korea-U.S. summit slated for June 12 in Singapore. At a higher level, U.S. Secretary of State Mike Pompeo and North Korean leader Kim Jong-un's right hand man Kim Yong-chol met in New York on Thursday to hammer out a way forward.

U.S. to Send Stealth Fighters to Japan for a Month

The U.S. is sending 14 F-22 stealth fighter jets to an air base in Japan for a month, the Sankei Shimbun reported on Thursday. The aim seems to be to build up military pressure on North Korea in case that ongoing negotiations with North Korean officials fail. The daily said 10 F-22s arrived at Kadena Air Base in Okinawa on Wednesday and the rest are also expected to follow soon. The U.S.' most advanced fighter jets are deployed in Japan for the first time in four years.

Remaining Staff at GM Korea's Gunsan Plant to Be Relocated

GM Korea's plant in Gunsan shuts down completely on Thursday, and some 200 of about 600 workers who have refused to accept redundancy packages will be transferred to other plants. They will be transferred to plants in Changwon in South Gyeongsang Province, Bupyeong in Gyeonggi Province, Boryeong in South Chungcheong Province, and GM Korea headquarters in Bupyeong, the carmaker's union said Tuesday. The Gunsan plant last employed about 2,000 workers, most of whom accepted early retirement packages, but the 600 refused.

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

North Korean delegation led by WPK vice chairman arrives in New York for two-day visit

A six-member North Korean delegation led by Workers’ Party of Korea (WPK) vice chairman and United Front Department director Kim Yong-chol arrived in New York City on the afternoon of May 30 for a two-day US visit.

Air China Flight CA981, the aircraft carrying Kim’s delegation, touched down on the runway at John F. Kennedy International Airport at around 1:47 pm that day. Six to seven black sedans and police vehicles could be seen from a distance approaching the apron for the aircraft’s arrival, prompting speculation that the North Korean delegation members might proceed directly to their hotel while avoiding the press.

Supreme Court chief justice delays decision on investigations into abuse of judicial authority

Supreme Court Chief Justice Kim Myeong-soo’s “contemplation” continues amid a deepening wave of distrust for South Korea’s judiciary, including a string of accusations of “judicial misconduct” during the tenure of predecessor Yang Sung-tae. With Kim avoiding a clear statement on the prosecutors’ investigation or accusations – citing his need to “gather opinions” – the outcry and controversy in and around the courts has been growing by the day. On May 30, Chief Justice Kim announced that he would listen to the opinions of judges before reaching a decision on the handling of findings from a special investigation team (headed by National Court Administration director Ahn Cheol-sang) probing allegations of abuse of judicial administrative authority.

Success of Kim Yong-chol’s meeting may determine that of North Korea-US summit

Following the announcement that North Korean Kim Yong-chol, vice chairman of the Workers’ Party of Korea (WPK) and director of the WPK United Front Department, will be visiting New York on May 30, attention is growing about whether he and US Secretary of State Mike Pompeo will manage to finalize the agenda of the North Korea-US summit. Depending on the success of the meeting, Kim might even meet with US President Donald Trump. Kim Yong-chol’s visit to the US comes as a response to Pompeo’s two visits to the North. Pompeo visited Pyongyang and discussed the summit with Kim from Mar. 31 to Apr. 1, while Pompeo was director of the CIA, and on May 9, shortly after he became Secretary of State. Presuming that the two men needed an additional meeting, it is fair to say that it was Kim’s turn to visit the US.

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

Pompeo, Kim confer over New York meal

U.S. Secretary of State Mike Pompeo and Kim Yong-chol, a high-ranking North Korean official, had a dinner meeting in New York Wednesday evening, feasting on steak and corn, to pave the way to a historic summit next month between their two leaders. Kim, the influential vice chairman of the North’s ruling Workers’ Party Central Committee and director of the United Front Department, which is responsible for inter-Korean relations, flew into New York’s John F. Kennedy International Airport earlier that day from Beijing.

NPS decides to intervene in Korean Air management

The National Pension Service (NPS) has decided to use its shareholder rights to take action against the airline’s scandal-ridden owner family. The NPS will send a public reprimand to the company demanding it find a way to resolve the current mess created by the owner family and have a face-to-face talk with the top management of the airline, according to an announcement by the Ministry of Health and Welfare, the fund operator, on Wednesday.

Samsung Electronics shares jump on sale

Samsung Electronics shares shot up 2.42 percent on Thursday over the previous day to close at 50,700 won ($47), largely due to two of the chaebol’s financial affiliates selling their stakes in the tech giant on Wednesday.

The market sees the sale as a step toward changing Samsung’s complicated governance structure. Samsung Group has been under pressure to reform its governance structure, which relies on webs of cross-shareholding ties among its affiliates.

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

Swing Voters Making up over 20% of the Voters, the 20-Somethings, and Early Voter Turnout May Be the Hidden Keys

The official election campaign for the June 13 local elections and parliamentary by-elections will begin on May 31. The direction of the swing voters and the turnout of voters in their twenties and thirties are cited as the variables that may determine the outcome of the election. Attention is also on whether the turnout in early voting, which will be conducted for the second time in local elections, may determine the election results.

Liberty Korea Party Interferes with Parliamentary Support of the Panmunjom Declaration
A parliamentary resolution supporting the Panmunjom Declaration signed at the April 27 inter-Korean summit has failed to pass in the National Assembly. The ruling and opposition parties agreed to restore the operation of the National Assembly on May 18. In doing so, they agreed to postpone the ratification of the Panmunjom Declaration until after the summit between North Korea and the United States, while voting on a resolution supporting the declaration during a session on May 28. However, the lawmakers failed to narrow their differences. The blame for failing to adopt the resolution lies solely with the Liberty Korea Party. The key point of the resolution was to welcome the Panmunjom Declaration and cooperate at the parliamentary levelomething that the ruling and opposition party floor leaders had agreed to in writing. Nevertheless, the Liberty Korea Party deleted the "support for the Panmunjom Declaration" and distorted this into a resolution calling for the North's dismantlement of nuclear weapons. The act can only be seen as one taken with the intent to dismiss the resolution. The Liberty Korea Party has constantly disparaged and opposed the inter-Korean talks, which resumed this year. The party's leader, Hong Joon-pyo referred to the second inter-Korean summit as a "show for the local elections."

Supreme Court to Review Criminal Charges Against Yang Seung-tae for Trading "Trial Outcomes"
Allegations that the National Court Administration tried to strike a deal with Cheong Wa Dae during the Park Geun-hye government and secretly investigated the philosophy and tendencies of the judges when Yang Seung-tae (70) served as the chief justice of the Supreme Court are stirring controversy and a prosecutor's investigation of relevant figures including Yang and Im Jong-heon, former deputy director of the National Court Administration, appears likely. Chief Justice of the Supreme Court Kim Myeong-su announced that he would review making a personal request to the Prosecution Service for an investigation into the allegations. On his way to work on the morning of May 28 at the Supreme Court in Seocho-dong, Seoul, Chief Justice Kim told reporters, "I sincerely apologize for causing concern and disappointing the people for the latest incident. I also have been greatly disappointed." When a journalist asked if he planned to request a prosecutor's investigation, Kim said, "We will consider everything, including that."

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

Is Pyongyang ready to push for true reform and openness?

The skyline of Sinuiju, a hot place for cross-border trade in the northwestern border between North Korea and China, is getting higher with the erection of new high-rise apartments and other buildings being built by North Korean capitalists. The scene observed by visitors to Dandong, a Chinese trading city located at the estuary of the Yalu River, could be superficial, but experts and Chinese traders agree North Korea is clearly taking a new stance in its economic policy to embrace reform and openness, regardless of whether it is spontaneous or forced by international sanctions.

Trump expects letter from N. Korean leader: Yonhap

U.S. President Donald Trump said a North Korean delegation in New York is expected to bring him a letter from leader Kim Jong-un. Trump told reporters before leaving for Texas that meetings to prepare for his potential summit with Kim have been "very positive." The two sides are pushing for a June 12 summit in Singapore to discuss dismantling North Korea's nuclear weapons program. "I believe they'll be coming down to Washington on Friday and a letter is going to be delivered to me from Kim Jong-un," he said. "So I look forward to seeing what's in the letter, but it's very important to them."

Posco Daewoo invests $475 mln in Myanmar gas field project

Posco Daewoo, a leading trading company in South Korea and a subsidiary of South Korean Steel company Posco, disclosed plans Thursday to invest 511.7 billion won ($474.9 million) in the second stage of its gas field project in Myanmar. The company said in a regulatory filing that it has decided to make a fresh investment in the project that first began in 2000. After a decade of exploration and developing its processes, commercial production officially began in June 2013.

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

S. Korea’s Q1 GDP up 1.0%, revised down from preliminary 1.1%

South Korea’s gross domestic product (GDP) grew 1.0 percent against the previous quarter, slower than the preliminary rate of 1.1 percent released in April, the central bank’s revised data showed, in another indication of fragility in the recovery pace. The Bank of Korea on Friday adjusted down the first-quarter growth but maintained the economy was in the course for an annualized full-year growth of 3.0 percent for this year.

Shinhan Financial withdraws from takeover bid for ING Life Insurance

The sale of ING Life Insurance fell through after South Korea’s Shinhan Financial Group Co. withdrew from talks to buy the insurer from its major shareholder MBK Partners due to differences over sales terms and price. According to multiple sources from the investment bank industry on Wednesday, Shinhan Financial Group that had been in negotiations to buy ING Life Insurance from its largest shareholder MBK Partners with a 59.19 percent stake has decided to suspend the talks under mutual agreement.

Germany’s Quarzwerke to set up $19 mn mineral plant in Dangjin

Quarzwerke Group, a German producer of mineral raw materials, pledged to invest 20 billion won ($18.6 million) to set up a mineral manufacturing plant in Dangjin, South Chungcheong Province by 2022.

The German company said Thursday (local time) it signed a memorandum of understanding with the Dangjin city government to build the plant on a 37,760 square-meter site in the city’s foreign investment zone in Songsan.

Based in Frechen, Quarzwerke has been engaged in the business of extraction, processing and refining of industrial materials for more than 130 years. It processes quartz, kaolin and other mineral raw materials in 44 plants across Europe and sells them to 50 countries.

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What’s ticking around the world at this second?

See what the world media around the world have to report:

USA Today www.usatoday.com aallman@gannett.com

The New York Times www.nytimes.com inytletters@nytimes.com

Wall Street Journal www.wsj.com support@wsj.com,service@wsj-asia.com

Financial Times www.ft.com ean@ft.com

The Times www.thetimes.co.uk help@timesplus.co.uk

The Sun www.thesun.co.uk talkback@the-sun.co.uk

Chinese People's Daily www.people.com.cnkf@people.cn

China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn

GwangmyeongDaily www.gmw.cn webmaster@gmw.cn

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

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

Mainichi www.mainichi.jp

Le Monde www.ilemonde.com

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

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

SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de

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

Sydney Morning Heraldwww.smh.com.au

Colombia Reports http://colombiareports.com

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

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

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

Ecuador Times http://www.ecuadortimes.net

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

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

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

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

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

Daily News Hungary http://dailynewshungary.com

Budapest Times http://budapesttimes.hu

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

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

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

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

And many other countries.

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