The Korean daily media headlines and humor

The Korean daily media headlines and humor

Friday, June 8, 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

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.

KOEM renews pledges to preserve

Observing the 23rd Ocean Day on May 31, Korea Marine Environment Management Corporation (KOEM) took pains to publicize the significance of protecting the marine environment. KOEM set up a Marine Environment Promotion Booth during a special Ocean Day event which took place at Incheon Inner Port Pier 8. It also exhibited special devices related to ocean environment protection. The Ocean Day event, hosted by the Ministry of Maritime Affairs and Fisheries with the theme of "seas to be managed together,” and “seas to live together,” was attended by nearly 2,000 people including officials of government agencies and marine fisheries organizations.

Resource Plant emerges as a promising mining equipment developer

With an ambitious vision of growing into one of world’s top 5 mining equipment developers by 2025 through innovation and technology, Resource Plant Co., Ltd. (RP) (Chairman: Steve Jung), a young technology-oriented company based in Korea, is committed to developing sustainable eco-friendly mining equipments. RP’s green technology aims to improve lives of people by protecting the environment from destruction due to continued resource development, pollution and climate change.

‘May 28 marks the demise of repressive military rule in 1991’

May 28 every year is observed to mark the end of the oppressive Derg Regime in 1991. The day marks the demise of the repressive military rule in 1991 and the dawn of a new era of peace, development and democracy for the Ethiopian people. Under this new government, all Ethiopians are recognized equally under the constitution, irrespective of any gender, religious, ethnic or cultural differences or affinities.

This year is the 27th Anniversary of the demise of the dictatorial Derg military regime, which was in place from 1974 until 1991. It was overthrown by a coalition of liberation forces which demanded a democratic system that recognized the rights and freedoms of all of Ethiopia’s many nationalities. Ethiopia is now a country which embraces diversity.

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

Trump Says He Could Sign Deal to End Korean War in Singapore

U.S. President Donald Trump says he could sign an agreement to end the Korean War with North Korean leader Kim Jong-un at their summit in Singapore on Tuesday. Speaking at a joint press conference with Japanese Prime Minister Shinzo Abe at the White House on Thursday, Trump expressed his hope an accord will be signed to formally end the conflict, adding that it would be the first step in normalizing relations with the North. The U.S. president also hinted that he could invite Kim to the U.S. for a possible follow-up summit, saying that "maybe we'll start with the White House."

S. Korea, Russia Agree to Cooperate in 9 Sectors

South Korea and Russia have agreed to expand economic cooperation in nine areas, including gas and rail. The two governments held the 17th meeting of their Joint Committee on Economic, Scientific and Technological Cooperation in Seoul on Thursday. Seoul's Finance Ministry said the meeting discussed the so-called "9-Bridges" project involving comprehensive cooperation in the Russian Far East. It includes projects in gas, rail, seaports, electricity, Arctic routes, shipbuilding, industrial complexes, agriculture and fisheries. President Moon Jae-in proposed the vision during the Eastern Economic Forum held in Russia last September. In the Thursday meeting, Seoul and Moscow agreed to uncover new projects and review financial support in efforts to expand South Korean firms' advance into the Far East.

Gov't to Mull Budget, Tax Measures to Improve Income Disparity

The government will offer a helping hand to low-income earners. Finance Minister Kim Dong-yeon said his ministry will reflect measures to tackle a drop in income for low income earners and deterioration in income distribution when making next year's budget and tax policies. Kim made the comment while chairing a meeting on the topic of income disparity at the Seoul Government Complex on Thursday. The minister-level meeting was held after President Moon Jae-in asked officials to come up with measures to counter widening income inequality and a decline in earnings of the low income class last month. According to data by Statistics Korea, the nominal income for the bottom 40 percent of households recorded the steepest plunge in the first quarter.

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

Economic recovery being maintained on output upturn

South Korea's economy is on a recovery path on the back of a rebound in industrial output and construction investment, although capital spending and consumption are facing adjustments, a government report said Friday. A weaker job market and rate hikes in the United States pose downside risks to Asia's fourth-largest economy, the finance ministry said in its monthly economic assessment report. "The overall recovery pace is being maintained as industrial output and construction investment rebounded," the ministry said. "But facility investment and private spending faced correction," it added.

S. Korean team visits N. Korea to prepare launch of liaison office

A group of South Korean officials and civilians visited North Korea on Friday to prepare for the opening of a liaison office in the North's border city of Kaesong. The 14-member team headed by Vice Unification Minister Chun Hae-sung took the western land route and crossed the military demarcation line at 8:34 a.m. for a trip to inspect possible locations and facilities. This is the first time South Koreans have visited Kaesong since February 2016, when Seoul shut an inter-Korean joint industrial complex in the western border city following the North's missile and nuclear provocations.

Seoul seeks drastic deregulation for innovative growth

South Korea will seek drastic deregulation and provide support to foster innovative growth, the country's finance ministry said Friday. Under a set of support measures unveiled earlier, the government will provide funding and other incentives to eight key sectors such as smart farms, smart cities, financial technology, drones and electric vehicles and artificial intelligence. "The government will accelerate its move toward easing regulations for innovative growth ... and will fully support innovative growth by companies and the market," Finance Minister Kim Dong-yeon said in an economy-related ministers meeting.

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

US may be considering Nunn-Lugar program for NK denuclearization

The US may be considering the possibility of applying the Nunn-Lugar program to North Korea’s denuclearization in the run up to the US-North Korea summit. US President Donald Trump and North Korean leader Kim Jong-un are set to meet in Singapore on June 12, the agenda of which is being negotiated by working-level officials. The Nunn-Lugar program refers to the Cooperative Threat Reduction program the US implemented in handling weapons of mass destruction, including nuclear weapons, of the former Soviet Union.

Financial industry getting ready to embrace North Korea

South Korean financial institutions are getting ready to embrace the future economic ties with North Korea amid cooperative atmosphere following the inter-Korean summit in April and a week ahead of the US-North Korea summit. Samsung Securities said Thursday it set up a research team on investment in North Korea for the first time among the nation’s financial companies. The firm said the team was set up to “provide systematic analysis on North Korea from a long-term perspective as the nation’s geopolitical situation with the North is now seen as new growth momentum for Korean companies.”

Other financial firms including KEB Hana Bank, Woori Bank and Shinhan Financial Group, also began to prepare for the possible cooperation.

Trump talks tough on trade ahead of G-7 meetings in Canada

The on-again, off-again meeting between President Donald Trump and North Korean leader Kim Jong-un has been an emotional roller coaster for South Koreans, who now await Tuesday's historic summit with both hope and doubt. The hope is that improved relations between Washington and Pyongyang will ease tensions and dispel the threat of war, which has hung over the region for more than a half-century. But having seen North Korea go back on its word in the past, such as when it broke a previous nuclear pact in 2002, South Koreans remain cautious about the sudden breeze of peace blowing across their divided peninsula.

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

Trump says he could invite Kim to US if summit goes well

U.S. President Donald Trump said Thursday that he could invite North Korean leader Kim Jong-un to the United States if their meeting next week goes well. The highly anticipated summit in Singapore is five days away as the two sides try to reach a deal on dismantling North Korea's nuclear weapons program in exchange for security guarantees. Trump said he is prepared to walk if the negotiations don't go well, but he also dangled the possibility of a follow-up meeting in Washington.

ASEAN, a key partner for Korea's future

Singapore is set to host a summit June 12 between President Donald Trump and Chairman Kim Jong-un, the first-ever meeting between a sitting American president and a leader of North Korea. The decision to hold what could be one of the most significant meetings in Korean history in Singapore is a testament to the remarkable diplomatic significance of the "little red dot." Already renowned as one of the world's leading trading and financial hubs, the tiny city state can now add another service to its distinguished portfolio: diplomatic host.

Duterte affirms support for Moon's peace efforts

Philippine President Rodrigo Duterte pledged his support for President Moon Jae-in's efforts to achieve peace on the Korean Peninsula, in their summit at Cheong Wa Dae, Monday. Duterte said Moon and the South Korean government's efforts contributed greatly to recent developments toward peace on the peninsula, by mediating between North Korea and the U.S. to enable a summit between their leaders to discuss Pyongyang's denuclearization. Duterte stated he is "glad about Moon's efforts to make peace on the Korean Peninsula."

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

Kim Jong-un Has to Take Foreign Plane to Summit

North Korean leader Kim Jong-un will fly directly on a foreign plane from Pyongyang to Singapore for his summit with U.S. President Donald Trump next week. Talks are underway to use an aircraft provided by Singapore or China.

A diplomatic source in Seoul said, "North Korea originally considered a refueling stop in China, but chose to fly straight to Singapore. There was some trepidation about flying the 4,800 km distance aboard Kim Jong-un's own aging plane, so a third country is expected to supply it."

No Chance of Moon Joining Trump and Kim Jong-un

President Moon Jae-in will not be joining his U.S. counterpart Donald Trump and North Korean leader Kim Jong-un in Singapore next Tuesday. Cheong Wa Dae officials had for some reason been clinging to the remote prospect but admitted Thursday that it "appears impossible" given that there has been no word from the U.S. Moon had mooted the idea of joining the two leaders in Singapore to discuss formally ending the Korean War but got no traction in Washington. Another Cheong Wa Dae official was not yet ready to give up. "The chances are becoming slim, but we can't say definitively that the three-way summit is on or off," he said.

Electric Vehicle Sales Surge as Hybrids Decline

One out of every five eco-friendly cars sold this year was an electric vehicle. According to the Korea Automobile Manufacturers Association, Korean automakers sold 5,542 EVs in the first four months of this year, accounting for 22.7 percent of all eco-friendly cars. This is the first time the proportion of EVs in the category has surpassed 20 percent. It has risen from a mere 1.8 percent in 2012 and 10.2 percent in 2016.

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

Singaporean foreign affairs minister visit Pyongyang ahead of summit

Singaporean Minister for Foreign Affairs Vivian Balakrishnan is visiting Pyongyang ahead of his country’s hosting of a June 12 North Korea-US summit, AFP reported on June 6. According to the Singapore Ministry of Foreign Affairs, Balakrishnan is traveling to Pyongyang on June 7 for a two-day visit at the official invitation of North Korean Foreign Minister Ri Yong-ho. During his stay, Balakrishnan is reportedly planning to meet with Ri and visit Supreme People’s Council Presidium president Kim Yong-nam. While no specific reason was given for the visit, Balakrishnan appears likely to engage in working-level talks and -level coordination for the historic summit, preparations for which are rapidly gaining momentum.

Former IAEA deputy director general says a lot of denuclearization can happen in six months

The International Atomic Energy Agency (IAEA) said it could begin inspections of North Korea’s nuclear shutdown within a matter of weeks once the relevant countries reach an agreement. Speaking at an IAEA board of governors’ meeting in Vienna on June 4, director general Yukiya Amano said, “The Agency is closely following developments [including the North Korea-US summit discussion process] related to the nuclear program of the Democratic People's Republic of Korea.”

South Korean press takes steps to revive inter-Korean exchange

A former senior official with the International Atomic Energy Agency (IAEA) said “a lot can be accomplished” with North Korea’s denuclearization in the space of six months to a year. The claim comes amid predictions that denuclearization procedures will take a long time even if Pyongyang does agree to them at the June 12 North Korea-US summit in Singapore. In a June 5 interview with Radio Free Asia (RFA), former IAEA deputy director general Olli Heinonen said the shutdown and monitoring of nuclear facilities could be done “within just a few weeks.”

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

U.S. may want follow-up summit

U.S. President Donald Trump is reportedly toying with the idea of offering North Korean leader Kim Jong-un a second summit at his Mar-a-Lago resort in Palm Beach, Florida, possibly in the fall if the first bilateral summit goes smoothly next week. Citing several U.S. government officials who spoke on the condition of anonymity, Bloomberg reported Wednesday that the White House wants Kim to commit to a timetable to surrender his country’s nuclear arsenal when they meet next Tuesday in Singapore, and that Trump has been advised not to offer Kim any concessions.

Portuguese incubator seeks Korean start-ups

The Portuguese Embassy in Seoul is inviting Korean start-ups to apply to the country’s incubator program. “Building Global Innovators is a world-class tech startups accelerator, based jointly in Lisbon, with operations in Cambridge, Massachusetts,” the embassy said in a statement jointly released with Aicep Portugal Global, a government agency tasked with attracting foreign investment to Portugal, on Tuesday.

The program, now in its ninth year, is looking for start-ups working in IT, medical devices, smart cities, blockchain, artificial intelligence and water resources.

Crowdfunding regulations leave lenders at risk

The crowdfunding market is on alert as investors in debt-based crowdfunding are at risk of losing their investment principal due to weak consumer protection for the relatively new fund-raising scheme. Debt-based crowdfunding differs from regular investment as the capital threshold is generally lower and the screening process is less substantial than with established financial institutions. Unlike regular investment, lenders receive interest payments on the loan but do not get shares or any other form of equity.

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

Kim Jong-un's Last Concern

Kim Jong-un, chairman of North Korea's State Affairs Commission, must have a lot on his mind with a summit with U.S. President Donald Trump in Singapore just ahead. Think of the pressure of having to strike a deal that will determine the fate of his country with the leader of the United States뾞 nation that has been hostile for the past seventy years. Kim is probably struggling with whether the post-Trump United States administration will stand by an agreement, as well as whether the upcoming negotiations will be successful.

"The Supreme Court Made Rulings Favorable to the Government and Capital... Can't Return to Work Since Workers Have Passed the Retirement Age"

Among the documents on the alleged abuse of judicial administrative authority released by the special investigation team on June 5, there are documents on a labor union case suspected of being one of the cases that the Supreme Court뾳nder the former chief justice, Yang Seung-tae뾳sed to seek cooperation from the Park Geun-hye government. It was a lawsuit filed by the executives of the Valeo Mando branch of the Korean Metal Workers' Union claiming that a decision made in a general meeting by some union members who had withdrawn from the Metal Workers' Union to change the organization into an individual corporate union was invalid.

Declaration of the End of War Can Give North Korea a Cause to Abandon Nuclear Weapons and Trigger Economic Development

On June 1 (local time), U.S. President Donald Trump mentioned that he discussed ending the war with North Korea after meeting Kim Yong-chol, director of the United Front Department cum vice chairman of the Workers' Party of Korea overseeing South Korean affairs. This has increased the possibility of a declaration of the end of war within this year, as the two Koreas had agreed in the Panmunjom Declaration. The declaration is a political one that will end the Korean War뾲he two Koreas have been in a ceasefire for 65 years. For North Korea, such a declaration could give them a cause to persuade the nation to abandon its nuclear program, in addition to the significance in security, and it can also allow them to focus on economic development.

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

French Spiderman arrested for unfinished stunt to scale S. Korea's tallest skyscraper

The wife of Hanjin group chief Cho Yang-ho who controls Korean Air was released from temporary custody at a police station after a court refused to issue an arrest warrant, citing no possibility of running away or destroying evidence. Lee Myung-hee, 69, went home shortly before midnight Monday after she was locked up at a police station in central Seoul. She has been widely criticized as a typical example of "Gapjil" that means an abuse of power such as mistreatment, arrogant behavior, crude talk, character assassination, and insults.

French 'Spiderman' gets arrested after scaling walls of 555m tall Lotte Tower in Seoul

French urban climber Alain Robert, known as "Spider-Man" for his daredevil acts of scaling global high-rise landmarks barehanded, was arrested this week for his illegal challenge to scale South Korea's tallest 555-meter-tall skyscraper.

Alain Robert, 55, started to climb the exterior walls of the Lotte World Tower, a 123-story landmark building in southern Seoul, with no safety gear at 7:50 a.m.

Samsung partners with Danish firm to provide 'one-kind' audiovisual experience

Samsung Electronics has partnered with Steinway Lyngdorf, top-class Danish audio brand, to provide "one-kind" audiovisual experience with its new giant display. Samsung said in a statement released through its news blog on Friday that through its partnership with Steinway, "The Wall", a new LED display created by Samsung, would have a top-notch audio system. Consumers will have an ultimate viewing experience with the combination of an impressive display and a state-of-the-art sound system.

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

CJ Logistics USA to buy local rival DSC Logistics for $216 mn

CJ Logistics U.S.A. Corp., a wholly-owned subsidiary of South Korea’s CJ Logistics Corp., is taking over U.S.-based DSC Logistics Inc. for $216.4 million to expand its business in North America. The Korean logistics company said in a disclosure on Friday its U.S. unit agreed to purchase 1,800 shares tantamount to a 90 percent stake in the U.S. firm by Nov. 15 with an option to later assume the remaining 10 percent.

S. Korea joins Eurasia international rail transport organization

outh Korea has become a full member of the Organization for Cooperation between Railways (OSJD), a move that is expected to allow the country to fulfill its long-time wish of connecting it with neighbors in Eurasia via rail, after winning North Korea’s vote in a ministerial meeting held in Kyrgyzstan. The Ministry of Land, Infrastructure, and Transport said on Thursday that OSJD unanimously voted to allow South Korea to become a full member of the international organization founded in 1956 to promote international railway agreements and projects between the former Soviet Union and East-European bloc countries.

Korean govt, Elliott begin pretrial negotiations on June 14

The South Korean government and Elliott Management next week will enter negotiation for an out-of-court settlement over the U.S. activist fund’s $670 million damage claim for the former administration’s interference in the 2015 merger between Samsung units. According to sources with knowledge to the affair on Wednesday, the two sides recently have reached an agreement to open negotiations on June 14 and are fine-tuning the difference over the location of the meeting.

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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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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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