Headlines, September 7, 2018

Friday, September 7, 2018

Round-up of important news from major Korean dailies today

And from international media:

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

Trump thanks N.K. leader for having 'unwavering faith' in him
U.S. President Donald Trump thanked North Korean leader Kim Jong-un and pledged to work together with him on Thursday after Kim said via a South Korean envoy that his faith in Trump remains unchanged.
"Kim Jong Un of North Korea proclaims 'unwavering faith in President Trump.' Thank you to Chairman Kim. We will get it done together!" Trump tweeted.

Hyundai Avante refresh shines for its practicality
Hyundai Motor Co.'s significantly redesigned Avante compact on Thursday proved it is a really suitable entry-level vehicle for everyday city driving in terms of fuel efficiency and safety features.
In a 130-kilometer test drive that took two hours in Namyangju, just east of Seoul, the revamped sixth-generation Avante, or Elantra, boasted an average fuel economy of 16.5 km/l, and its numerous safety functions worked as advertised.

Hana Pharm to go public next month
Hana Pharm Co., a South Korean pharmaceutical firm, said Thursday it plans to go public on the country's main bourse next month to raise funds for facility investment to further advance its overseas market presence.

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

Gov't Launches Special Committee on Income-Led Growth
The South Korean government has launched a special committee on income-led growth despite criticism from the opposition bloc over its effectiveness.
Former senior presidential secretary for economic affairs Hong Jang-pyo, who was called back to lead the committee, declared during a ceremony on Thursday that the previous economic growth paradigm had hit a dead-end.

Top Court Drops Practice of Being Briefed on Major Case Proceedings
South Korean courts will no longer have to report major case proceedings to the National Court Administration.
According to the Supreme Court-affiliated administrative body on Thursday, it will abolish rules that say it must be kept up-to-date on the progress of important cases.

Ex-Pres. Lee Myung-bak Denies Embezzlement, Bribery Charges
Former President Lee Myung-bak has denied any wrongdoing during a final court hearing over the 16 charges leveled against him, including embezzlement and bribery.
Reading out a written statement for 15 minutes at the Seoul Central District Court on Thursday, Lee said he has detested and cautioned against corruption and collusion between politicians and businessmen all his life, adding he feels shame that such allegations are being directed at him.

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

Prosecutors demand 20-year jail term for ex-President Lee
Prosecutors on Thursday requested that a Seoul court sentence former President Lee Myung-bak to 20 years in prison for corruption and other charges.
The demand was delivered to the three-judge panel at the Seoul Central District Court in Lee's trial that began in early May. Prosecutors also called for a 15 billion-won (US$13.4 million) fine and a forfeiture of 11.1 billion won for the disgraced ex-leader.

Third Moon-Kim summit to be held Sept. 18-20: envoy
South Korean President Moon Jae-in will travel to North Korea from Sept. 18-20 for a summit with North Korean leader Kim Jong-un, Moon's special envoy said Thursday, one day after his trip to the communist state.

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

Koreas to hold summit from Sept. 18 to 20
The third inter-Korean summit will take place in Pyongyang from Sept. 18 to 20, Seoul’s National Security Office chief Chung Eui-yong said Thursday.
Chung, who returned from Pyongyang late Wednesday as President Moon Jae-in’s chief special envoy, said North Korean leader Kim Jong-un had reiterated his commitment to denuclearization.

Prosecutors seek 20-year jail term for ex-President Lee Myung-bak
Prosecutors on Thursday demanded 20 years in jail for former President Lee Myung-bak over a series of corruption charges including bribery and embezzlement.
Along with the jail term, the prosecutors also sought a 15 billion won ($13.4 million) fine and forfeiture of 11.1 billion won, in the last hearing, which began at the Seoul Central District Court at 2 p.m.

‘Samsung will be leader in human-centric AI design’
LONDON -- Samsung Electronics will become a leader in the field of artificial intelligence by differentiating itself from other AI players with human-centric communication that will help devices understand users’ emotions better, said professor Maja Pantic, who is affiliated with a UK-based AI center for Samsung, on Tuesday.

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

Moon to visit Pyongyang Sept. 18-20 for summit
President Moon Jae-in will visit Pyongyang from Sept. 18 to 20 for a third summit with North Korean leader Kim Jong-un, his chief special envoy said Thursday.
"During the three-day meeting, the leaders of the two Koreas will discuss ways to improve inter-Korean relations and achieve denuclearization, including the North's possible handing over a list of its nuclear weapons," National Security Office head Chung Eui-yong told reporters at Cheong Wa Dae.

Careless whispers?
If one photo is worth a thousand words, this should easily qualify.
Presidential envoy Chung Eui-yong is captured whispering to North Korean leader Kim Jong-un, who is leaning toward him. Kim has a big smile on his face.

Moody's worried over Korea's growth strategy
A "tricky strategy" is how Moody's Analytics describes President Moon Jae-in's income-led growth policy as it voiced some concern.
The economic research arm of global credit ratings agency Moody's Investors Service said if the Moon administration continues to push its controversial policy it will end up further hurting employment and consumption.

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

Illegal Trade Flows Freely Between N.Korea and China
North Korea trade with China officially through a small number of customs offices along the border, but illicit trade is common through many porous points.
China and North Korea share a 1,400-km border along the Apnok and Duman rivers but only three rail bridges and 12 pedestrian bridges with customs offices plus three harbors.

Kim Jong-un Invites Moon for Summit in Mid-September
North Korean leader Kim Jong-un on Wednesday invited President Moon Jae-in for another summit in Pyongyang on Sept. 18-20.
Kim unexpectedly met with five senior South Korean officials in Pyongyang on Wednesday despite having been off the radar for two weeks.

15,000 Koreans Stranded as Typhoon Jebi Shuts Kansai
Typhoon Jebi forced Japan's Kansai International Airport to close down on Tuesday causing chaos for travelers in Japan.
Many typhoons have hit the country over the last 25 years, but Jebi wrought new levels of devastation, inundating the busy gateway to Osaka and major travel hub.

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

3rd inter-Korean summit to be held in Pyongyang on Sept. 18-20
A third summit between South Korean President Moon Jae-in and North Korean leader Kim Jong-un is to be held in Pyongyang on Sept. 18–20.
The announcement was made at a Sept. 6 press conference by a special envoy delegation returning from a visit to North Korea on behalf of President Moon Jae-in, with Blue House National Security Office Director Chung Eui-yong as senior representative.

Kim Jong-un reiterates his commitment to denuclearization and Korean peace regime
North Korean leader Kim Jong-un sent a message to a visiting South Korean special envoy delegation expressing his “will to completely remove the danger of armed conflict and horror of war from the Korean peninsula and turn it into the cradle of peace without nuclear weapons and free from nuclear threat,” the North Korean press reported.

Terminated FineTek workers continue smokestack sit-down after 300 days
The workers are in agreement about one thing: they can’t let their colleagues spend a second winter atop that smokestack. As of Sept. 7, two workers will have been camped out on top of a 75m smokestack for 300 days. Workers unjustly terminated by FineTek, many of whom are simultaneously holding sit-ins on the smokestack and in the company headquarters, are urging citizens to become a “member for a day” so that their struggle can end in victory before a second winter comes.

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The Dong-A Ilbo (http://english.donga.com/)

‘Trump ordered a preemptive strike on N. Korea 1 month into presidency,’ a book says
After attending the National Security Council (NSC) meeting on January 19 this year, U.S. Defense Secretary James Mattis expressed his frustration to his close associates. This was because President Donald Trump, at the meeting, deval‎ued the “significance of the U.S. military presence in South Korea” and asked why the United States is spending resources on the Korean Peninsula.

Kim makes public appearance in 16 days
North Korean leader Kim Jong Un, who had refrained from public exposure since the impasse between North Korea-U.S. negotiations, revealed himself in 16 days. The Rodong Sinmun of North Korea reported on Wednesday that Kim had visited the mortuary of the former Mechanics and Industry Minister Joo Kyu Chang of the Workers’ Party, who pioneered the development of the country’s long-range missile program. It was Kim’s first official activity disclosed to the public since August 21, when he appeared on the Myohyangsan medical equipment plant site and the funeral ceremony of former Marshal of the Korean People’s Army Kim Yong Chun.

Samsung Electronics plans to unveil a foldable smartphone later this year
Samsung Electronics is planning to launch a foldable smartphone hits year. Koh Dong-jin, CEO of Samsung’s mobile division, told CNBC at the IFA 2018 electronics show Tuesday in Berlin that the development of a foldable smartphone is complicated but the company has nearly concluded it.

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

Moon-Kim summit set for Sept. 18-20
President Moon Jae-in will make a three-day trip to Pyongyang from Sept. 18 to 20 for his third summit with North Korean leader Kim Jong-un, said Moon’s special envoy Chung Eui-yong on Thursday.

Administration promises social policies that are inclusive
President Moon Jae-in proposed on Thursday his administration’s vision of how to improve Korean society in the next three years. “Inclusiveness will become the core value of this government,” Moon said during a meeting at the Blue House to discuss the administration’s strategies and policies on social issues. “Each department and bureau in the government must come up with a medium to long-term road map on social policies as soon as possible under this value.

Swine fever from Africa found again in Korea
The Korean government is trying to keep a disease deadly to pigs from being brought in from China.
The Ministry of Agriculture, Land and Rural Affairs said on Wednesday that it found evidence of the African swine fever virus in processed pork products brought into Korea by Chinese tourists through Jeju International Airport in late August.

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

Fragmented Real Estate Policies Fueling Market Distrust
Some experts argue that the Moon Jae-in government's real estate policies are facing problems because government ministries simply insisted on their positions and failed to properly fine-tune their differences.
The ministries released fragmented government measures, failing to present a comprehensive policy and contributing to the market distrust.

Growth Is Slow and Wallets Are Slim
The economy in the second quarter grew slightly slower than expected at the end of July, fueling concerns of an economic downturn in the second half of this year. The growth rate was not bad, but a look at the details showed that domestic demand was more sluggish than expected.

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

Two Koreas set agenda and date for fresh inter-Korean summit in Pyongyang
South Korean President Moon Jae-in will make a three-day visit to Pyongyang on September 18 for his third summit with North Korean leader Kim Jong-un to spur denuclearization and discuss practical measures to establish peace on the Korean peninsula, his envoy said Thursday.

S. Korean game publisher acquires creator of world-popular online game
Pearl Abyss, a South Korean game publisher, has decided to acquire 100 percent of the shares of CCP Games, an Icelandic game maker who developed "Eve Online", a popular massive multi-player online role-playing game (MMORPG).

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

S. Korean envoy holds talks with N. Korean officials in Pyongyang
The special envoy of South Korean President Moon Jae-in held talks with senior North Korean officials in Pyongyang Wednesday to make preparations for a fresh summit amid concerns that a stalemate in denuclearization talks could disrupt inter-Korean rapprochement.

Samsung Electronics apologizes for gas leak at semiconductor plant
Samsung Electronics apologized for a gas leak at its semiconductor factory that left a 24-year-old worker dead and two others hospitalized as an initial police probe discovered a ruptured pipe at an underground carbon dioxide storage room.

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Lee Kyung-sik edt@koreapost.com