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The Korean daily media headlines and humor

The Korean daily media headlines and humor

Tuesday, June 19, 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

P.S.: If the Headlines are no longer desired, please advise us at: edt@koreapost.com or pub@koreapost.com.

S. Korea, U.S. suspend major military exercise

South Korea and the United States have decided to suspend the Ulchi Freedom Guardian (UFG) exercise slated for August, Seoul and Washington officials said Tuesday, amid dialogue efforts to denuclearize North Korea. Shortly after his Singapore summit with North Korean leader Kim Jong-un last Tuesday, U.S. President Donald Trump unveiled his plan to stop "provocative, inappropriate and expensive" war games with the South, which Pyongyang has decried as an invasion rehearsal. "Following close cooperation, South Korea and the U.S. decided to suspend all planning activities for the UFG, the defensive exercise slated for August," Seoul's defense ministry said in a text message sent to reporters. "The South and the U.S. plan to continue consultations over additional measures," it added.

(For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=6934)

N. Korean leader Kim may visit Beijing in what would be 3rd trip to China: report

North Korean leader Kim Jong-un may visit Beijing soon to meet Chinese President Xi Jinping to discuss cooperation after his historic summit with U.S. President Donald Trump, a media report said Tuesday. Citing sources close to the matter, Japan's Nikkei newspaper reported that Kim may travel to Beijing by plane as early as Tuesday. It added that relevant security measures were spotted being made in the Chinese capital. If Kim visits Beijing, it would be his third trip to China this year alone following the ones in March and May when he met Xi. It would also follow Kim's summit meeting with Trump in Singapore on June 12 in which Kim affirmed his commitment to complete denuclearization.

(For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=6949)

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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 has become Russia’s leading, most promising economic partner’

Ambassador Alexander A. Timonin of the Russian Federation in Seoul said, “Korea has become one of Russia's leading and most promising economic partners in the Asia-Pacific region and in 2017 the trade turnover between our countries amounted to 18.9 billion dollars, an increase of 41.4% compared to 2016.” Speaking to an estimated 600 Korean and international dignitaries attending the reception he and Madam Timonina hosted in celebration of the Day of Russia at the Lotte Hotel in Seoul on June 12, 2018, Ambassador Timonin stated that the key areas of mutually beneficial economic cooperation with South Korea are the implementation of large-scale investment projects in the European part of the Russian Federation, as well as the creation of new industries in Siberia and the Far East of Russia with an active utilization of advantages for foreign business provided within the Territories of Advanced Development and the Free Port of Vladivostok.

KHNP announces exporting nuclear power reactors independently from KEPCO

As the largest power generation company in Korea, Korea Hydro and Nuclear Power Company (KHNP) recently announced the policy of exporting nuclear power plants by itself, independent from Korea Electric Power Corporation (KEPCO), its parent company. KHNP has been exporting nuclear power reactors to foreign countries jointly with KEPCO under the project name ‘Team Korea’, and it has been taking the part of operating and maintaining nuclear power plants after construction.

Suit Doctor’ Hilton Lee has moved his shop to the sunny wide across the street

The Itaewon Street in Seoul is world-famous for a leading international shopping town literally occupying the whole district of Itaewon of the Yongsan Ward of Seoul. Standing out from this popular shopping town patronized by the expatriates in Korea, as well as the members of the US Army Garrison and the diplomats, is the Hilton Tailor Shop. It is owned and operated by ‘Man’s Fashion Maestro Hilton Lee’ who has been operating his business there for over four decades.

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

S. Korea, US Suspend Ulchi Freedom Guardian Exercise

South Korea and the U.S. have decided to suspend the Ulchi Freedom Guardian(UFG) exercise slated for August amid dialogue efforts to denuclearize North Korea. The defense ministries of the two nations announced on Tuesday that the allies have decided to suspend "all plans" for the upcoming computer-simulated UFG exercise. The two sides added that no decision had been made on other joint drills and the two countries would continue consultation on further actions.

Pompeo: Trump Agreed to 'Alter' Korean War Armistice at Singapore Summit

U.S. President Donald Trump has agreed to “alter" the 1953 armistice halting the Korean War in exchange for North Korea’s denuclearization. U.S. Secretary of State Mike Pompeo on Monday revealed a promise from Trump's summit with North Korean leader Kim Jong-un that had not been previously announced. During a speech at the Detroit Economic Club in Michigan, Pompeo said that Kim has made very clear his commitment to fully denuclearize his country.

S. Korea's Import Price Index Hits 42-Month High in May

South Korea's import prices increased at their fastest pace in 18 months in May on a continued rise in crude oil prices. According to preliminary data from the Bank of Korea(BOK) on Tuesday, the country's import price index came to 87-point-09 last month, up two-point-seven percent from a month earlier. The monthly growth is the largest since November 2016, when it marked four-point-two percent. The index, which has been posting growth for five straight months since January, is also the highest since November 2014 when it posted 91-point-23.

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

Cheong Wa Dae will consider abolishing capital punishment if requested

South Korea may consider officially abolishing capital punishment following a such request from its national human rights watchdog, the presidential office Cheong Wa Dae said Tuesday, stressing that no discussions were under way. "No discussions have been made," a Cheong Wa Dae official told reporters when asked if the government was considering such a move. The remarks came in response to an earlier report that the country may declare the official abolition of capital punishment before the year's end.

Deposits increasing at savings banks on higher interest rate

Deposits at savings banks are rising again, recovering from a chain of bankruptcies in 2011, industry data showed Tuesday. According to the Korea Deposit Insurance Corp. (KDIC), there were 67,888 deposit accounts totaling 9.1 trillion won (US$8.23 billion) as of end-March this year at savings banks. The number of corporate accounts fell by 166 to 1,906 compared with the same month last year, but that of personal accounts increased by 4,568 to 65,981.

N. Korea's nominal head of state returns from Moscow trip

North Korea's nominal head of state Kim Yong-nam has returned from his trip to Russia, where he attended the opening ceremony of the World Cup soccer finals, the North's state media reported Tuesday. Kim returned home on Monday after his stay in Moscow where he joined the opening ceremony of the quadrennial soccer competition on Thursday, according to the Korean Central News Agency. During his four-day trip, Kim met Russian President Vladimir Putin and delivered North Korean leader Kim Jong-un's letter to him. In the meeting, Putin reportedly invited leader Kim to visit Moscow.

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

South Korea and the US suspend Ulchi Freedom Guardian exercise

South Korea and the United States have agreed to suspend their joint military drill slated for this August, Seoul’s Defense Ministry said Tuesday, following US President Donald Trump’s pledge to end “war games” with South Korea after his summit with North Korea’s leader Kim Jong-un last week. In a text message sent to the reporters, the Ministry of National Defense said the allies forces have decided to suspend "all plans" for the upcoming computer-simulated Ulchi Freedom Guardian exercise.

Anti-refugee sentiment flares up on Cheong Wa Dae petitions

Cheong Wa Dae’s online petition system is once again making headlines with petitions calling for tougher regulations on refugees rapidly gaining traction. The online public petition system is promoted by the Moon Jae-in administration and top presidential aides respond to petitions that gain more than 200,000 signatures within one month. The latest petition to attract over 200,000 supporters demands the government to revise the law on refugees and the visa waiver program for Jeju, following the recent influx of Yemini refugees to the island.

Mobile carriers secure 5G frequencies at W3.6tr

South Korean mobile carriers on Monday secured frequency spectrums for the upcoming fifth-generation network in an auction at a total of 3.6 trillion won ($3.26 billion), the Ministry of Science and ICT said. The auction ended on its second day, and the total winning price was higher than the government’s asking price of 3.3 trillion won. Korea’s No. 1 operator SK Telecom and runner-up KT took 100 MHz bandwidths in the 3.5 Ghz frequency, the most competitive spectrum. LG Uplus secured the remaining 80 MHz. The positions of each firm’s blocks are: SKT at 3.6-3.7 GHz, KT at 3.5-3.6 GHz and LG Uplus at 3.42-3.5 GHz.

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

Defector explains North Korea's nuclear obsession

If there is one thing that North Korean dictator Kim Jong-un will never do, it is "complete denuclearization," according to Thae Yong-ho, a former North Korean diplomat who defected to South Korea. After Kim promised to give up nuclear weapons last week at his meeting with U.S. President Donald Trump in Singapore, you may feel inclined to trust Kim. But if you understand what the weapons really has meant to the regime's 70-year dictatorship, you are more likely to agree with Thae. Thae was a former deputy ambassador at the North Korean Embassy in London before taking asylum in South Korea in the summer of 2016 with his wife and two sons.

Two Koreas to make joint entrance at Asian Games

South and North Korea agreed to make a joint entrance under a flag symbolizing a unified Korea at the Asian Games to be held in Indonesia in August, the Ministry of Culture, Sports and Tourism said Monday. The Koreas also decided to hold an inter-Korean basketball competition in Pyongyang between July 3 and 6, and another in Seoul in the fall. The agreements on sports sector exchanges were made during inter-Korean talks at the truce village of Panmunjeom.

South Korea seeks to resume economic projects with North Korea, Russia

The government will seek joint economic projects with Pyongyang, Moscow and Beijing to develop special economic zones in border towns of North Korea, Russia and China, a presidential committee said Monday. It plans to link railways, gas pipelines and the electricity grid between South Korea and Russia, and China, and promote joint studies on how to link the sections passing through North Korea. These will closely depend on the North's denuclearization process and the lifting of related international economic sanctions on Pyongyang.

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

Trump's 'Condo Doctrine' Threatens Alliance with S.Korea

U.S. President Donald Trump's penny-pinching style of diplomacy is threatening the longstanding alliance between Seoul and Washington. Commentators here have labeled the former real estate developer's strictly profit-oriented approach to dealing with not only bilateral trade but also sensitive diplomatic and security issues the "condominium doctrine." In a Q&A session last Friday, Trump talked about stopping annual joint military exercises with South Korea.

N.Korea Offers to Remove Long-Range Artillery from Frontline

North Korean delegates at cross-border military talks in the truce village of Panmunjom last Thursday offered to move their long-range artillery pieces from the military demarcation line to rear areas, a source said Sunday. The Defense Ministry denied it, but the source said, "The North Korean delegates brought it up first as a matter of principle." This would go a long way toward reducing military tensions. It is not known why the North made the offer or what it expects in return.

Biometric Data to Replace Document Checks at Incheon Airport

Biometric data will soon do away with the need for travelers to have their passport and boarding pass checked repeatedly at airports. The fiddly checks will be replaced with fingerprints and facial scans to shorten the departure process and improve airport security. Incheon International Airport said Sunday that it will start a pilot project early next year with a view to launching the service in 2020.

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

Supreme Court to review issue of conscientious objection

The question of conscientious objection – that is, refusing to enroll in the military or bear arms because of religious beliefs – will be reviewed by the full bench of South Korea’s Supreme Court for the first time in 14 years. Public arguments on the matter will also be held at the end of August. This appears to reflect a growing push for the creation of an alternative to mandatory military service, with an increasing number of district courts acquitting conscientious objectors. Amid progress in peace talks on the Korean Peninsula, attention is turning to whether there will be a change in judicial rulings that have stressed the national security situation.

Experts muse over options for economic cooperation if sanctions are lifted against North Korea

Amid speculation about the international community lifting sanctions against North Korea following the North’s summit with the US, there are growing hopes for inter-Korean economic cooperation. While railroads and tourism have been cited as the main areas for cooperation, others suggest that economic cooperation in information and communications technology should be prioritized, considering North Korea’s outstanding capacity for software development. Since the North’s greatest technological strengths can be linked to the Fourth Industrial Revolution – including the Internet of Things and artificial intelligence – South Korea should move forward preparations where possible, experts say.

8 out of 10 South Korean trading companies willing to partake in inter-Korean projects

Eight out of ten South Korean trading companies intend to take part in projects with North Korea if inter-Korean trade resumes going ahead, a survey shows. The Institute for International Trade (IIT), affiliated with the Korea International Trade Association (KITA), released findings on June 17 on a survey of “trade business perceptions on inter-Korean trade,” for which 1,176 businesses were questioned. The results showed 80.0 percent of businesses answering that they intended to participate in projects with North Korea if inter-Korean trade resumes.

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

Nuke industry’s destiny in doubt

Officials from Ulju County, Ulsan, home to a number of nuclear reactors, recently visited the Czech Republic, according to the local government on Monday, the latest effort to help Korean companies to successfully export their technologies overseas. Although the Moon Jae-in administration is trying to wean Korea off nuclear power domestically, it still wants to export nuclear reactors and related technologies. But with the number of reactors in the country likely to shrink, concerns are mounting that experts in the field will leave the country as the number of jobs in the local industry will inevitably fall.

FTC fines LS over unfair profiting

Korean electric cable and copper giant LS and its affiliates were fined by the country’s antitrust watchdog for inter-affiliate trading on Monday. The Fair Trade Commission (FTC) fined four companies under LS Group, including LS Corp., the group’s holding company, a total of 26 billion won ($23.53 million) on Monday. The watchdog explained that the group provided unfair profits to its owner family by forcing affiliates to do business with LS Global when they bought and sold electrolytic copper.

After election, gov’t plans property tax increase

Emboldened by the ruling Democratic Party’s landslide victory in last week’s regional elections, the government announced it would take steps to raise Korea’s property taxes. The Fiscal Reform Special Commission under the Presidential Commission on Policy Planning said on Monday that it will hold a policy debate over real estate taxation reform on Friday. The debate will focus on studies on the impact of higher property taxes, particularly comprehensive taxes on multiple and high-value properties, with the goal of finding an appropriate taxation level.

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

Wind of Change Among Mayors, County Chiefs, and Local Council Members: Regionalism Falters

The regional and ideological framework that had defined South Korean politics for the past 28 years is shaking from the ground up due to the June 13 local elections. That the ruling Democratic Party of Korea swept the three gubernatorial and mayoral positions in the Busan, Gyeongsangnam-do (PK) region, regarded as the home ground of the Liberty Korea Party, is evidence of this, but signs of groundbreaking changes are more apparent in the election results of the lower-tier local governments, the capillary vessels of local autonomy.

Suspicious Attention to Claims by Lawmakers When National Court Administration Under Yang Seung-tae Promoted the Final Appeals Court

An allegation has been raised claiming that the National Court Administration, when Yang Seung-tae served as the chief justice of the Supreme Court, even drew up reports after reviewing the complaints filed by lawmakers, in the process of promoting a final appeals court. On June 13, several officials in the judiciary said, "The National Court Administration wrote a report after reviewing and summarizing the claims filed by a number of lawyers from the Democratic Party of Korea and the Saenuri Party in 2014-2015." Reportedly, the claims included questions on specific criminal trials and opinions on the relocation of court-related facilities.

Conservatives Fall Before the Ruling Party’s Landslide Victory

The ruling Democratic Party of Korea won a landslide victory in the nationwide local elections and parliamentary by-elections on June 13. The latest election was, in fact, an assessment of the first year of the Moon Jae-in government. So the Democratic Party's apparent victory is expected to boost President Moon Jae-in's handling of state affairs. On the other hand, the Liberty Korea Party, which has shriveled to a "United Liberal Democrats" of the Daegu and Gyeongsangbuk-do (TK) region after a record-breaking defeat, is expected to be engulfed in internal conflicts over the responsibility of the latest defeat.

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

S. Korea and U.S. suspend war games to spur denuclearization

In a bid to foster a friendly atmosphere for peace on the Korean peninsula, South Korea and the United States announced the suspension of their joint military exercise slated for August. In a simultaneous announcement, the South's defense ministry and the Pentagon said the allies would not hold the Ulchi Freedom Guardian (UFG) exercise this summer. Other exercises will not be affected.

Renewable energy supply more than doubles in S. Korea

Helped by active government supports and investments, renewable energy is more widely used than before in South Korea. Government data showed renewable energy supply more than doubled to 1185.5 megawatts in the first half of the year from 469.2 megawatts a year ago. Meanwhile, the utilization rate of nuclear power plants fell from 75.2 percent in the first quarter of last year to an average of 56 percent this year due to some nuclear reactors being temporarily shut down for maintenance and safety inspections.

Three killed and 30 others injured in arson attack on live music cafe

Three people were killed and 30 others were injured in a Sunday night arson attack on a live music cafe packed with middle-aged music lovers and villagers from an island in the southwestern port city of Gunsan. In a midnight manhunt, police arrested a 55-year-old man identified by his surname Lee living in Gunsan some 180 kilometers (111 miles) southwest of Seoul at the house of his friend. The clumsy arsonist told police he was infuriated by the owner of the cafe overcharging him.

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

Woori Bank embarks on holding transition procedure

South Korea’s Woori Bank holds a board meeting on Tuesday to kick off the process of transition into a financing holding entity. The identity change also requires review and approval from financial authorities that could take one or two months. The process will be finalized after the reorganization is approved by shareholders by the end of the year, allowing it to start anew as a financial holding group capable of expanding business to nonbanking sector from next year. The new holding entity is expected to relist on the main bourse in March.

Seoul police files arrest warrant for KT Chairman

South Korean police on Monday filed an arrest warrant for KT Corp. Chairman Hwang Chang-gyu and three other former and incumbent employees for their alleged involvement in providing illicit political donations to lawmakers from 2014 to 2017. The Seoul Metropolitan Police Agency said on Monday that it requested a warrant to arrest four former and incumbent KT employees including its chairman Hwang as they are suspected of having used 441.9 million won ($399,477) worth of company funds to provide illegal political donations to 99 legislators of the 19th and 20th National Assembly between May 2014 and October last year.

LS Cable & System invests $20 mn to set up a JV with Indonesia’s AG Group

South Korea’s leading cable manufacturer LS Cable & System Ltd. said on Monday that it will establish a 50-50 joint venture with Indonesian conglomerate Artha Graha Group (AG Group) to tap into the Southeast Asian country’s electric wire market. Under the joint venture agreement signed on Monday at the Embassy of Indonesia in Yeouido, Seoul, LS Cable & System and AG Group will invest a total $40 million to build a power cable factory on a 64,000 square meter location near Jakarta, Indonesia, starting next month, with an aim to complete construction in the second half of 2019.

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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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TO ERR ON THE SAFER SIDE!

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Please visit the following URLs and order us:

Real time-updated Korean Internet news http://www.koreapost.co.kr/

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English E-daily http://www.koreapost.com/news/articleView.html?idxno=6774

English monthly magazine The Korea Post http://www.koreapost.com/cover/coverList.html

To satisfy your information dissemination-acquisition requirements, please drop a line at edt@koreapost.com, pub@koreapost.com or yeskoreapost@gmail.com

The publisher-chairman of The Korea Post media is serving the Diplomatic Community for more than 40 years, 32 years with The Korea Post and 10 years with The Korea Herald as the Cultural Editor who covered the Diplomatic Community.

For quick response, call Chairman Lee directly at 010-5201-1740 or reporters at 010-3388-1682 or 010-7584-5873.

Lee Kyung-sik  edt@koreapost.com

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