Headlines, September 21, 2018

Friday, September 21, 2018

N. Korea media hail leaders' visit to Mount Paekdu

North Korea's state media on Friday hailed the visit to Mount Paekdu by the leaders of the two Koreas as a "historic" event in an era of enhanced cross-border cooperation.

President Moon Jae-in and North Korean leader Kim Jong-un climbed the peninsula's highest mountain Thursday, the last day of Moon's three-day trip to the communist state for their third summit.

South Korean President Moon Jae-in (2nd from R) and North Korean leader Kim Jong-un raise each other's hand atop the North's Mount Paekdu on Sept. 20, 2018, as their wives, South Korean first lady Kim Jung-sook (R) and her North Korean counterpart Ri Sol-ju, applaud. (Yonhap)

"On the ridge of Janggun Peak, the highest peak in range of Mt Paekdu, Supreme Leader of the Party, state and army Kim Jong Un together with President Moon Jae In feasted their eyes long on the natural beauty of the majestic and magnificent peaks, spectacular scenery of the limpid and blue Lake Chon and the wavy sea of foliage that extended vast reminding one of the blood vein of the nation," the Korean Central News Agency reported in English.

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Round-up of important news from major Korean dailies and from international media today:

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

N. Korea ready to denuclearize, hopes for 2nd summit with U.S.: Moon

North Korean leader Kim Jong-un is ready to accelerate denuclearization of his country in exchange for security guarantees from the United States and wants to hold a second summit with U.S. President Donald Trump at an early date, South Korean President Moon Jae-in said Thursday. Moon also said his government seeks to declare a formal end to the Korean War before the year's end, and that he will bring up the issue when he meets Trump in New York next week.

Consumer financing firms see combined profit rise 24.3 pct in H1

Consumer financing firms in South Korea saw their combined net profit gain 24.3 percent on year in the first half of this year, thanks to a robust gain in interest income, data showed Friday. The combined net profit of 92 credit-specialized financial firms stood at 1.1 trillion won (US$981 million) in the January-June period, compared with a profit of 890.1 billion won a year earlier, according to the data by the Financial Supervisory Service (FSS).

U.S. dismisses N. Korea's conditional offer to dismantle nuclear site

The United States on Thursday dismissed North Korea's conditional offer to dismantle a key nuclear site, saying denuclearization must come before concessions. North Korean leader Kim Jong-un expressed a willingness in this week's joint summit agreement with South Korean President Moon Jae-in to permanently shut down the nuclear facilities in Yongbyon if the U.S. took "corresponding measures."

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

Moon: Kim Jong-un Wants to Meet Trump as Soon as Possible

President Moon Jae-in says North Korean leader Kim Jong-un hopes to hold his second summit with U.S. President Donald Trump as soon as possible for swifter progress on denuclearization. The South Korean president relayed the North Korean leader's stance during a press briefing in Seoul on Thursday, after returning from trip to the North for his third summit with Kim. Moon said Kim also expressed hope that U.S. State Secretary Mike Pompeo will soon make another trip to the North. Moon assessed that the regime has changed significantly on denuclearization, noting its earnest discussions with the South on specific related measures.

Pompeo: US Making Progress with N. Korea

U.S. Secretary of State Mike Pompeo said the U.S. is making progress with regard to North Korea's denuclearization. Appearing on Fox News on Wednesday, Pompeo said that the U.S. has made steady but slow progress, adding it has always known the process was going to take some time. The secretary said although it doesn't get reported, he has been talking to North Korean officials with some frequency even before the leaders of the two Koreas held a third summit in Pyongyang this week.

S. Korea's Producer Prices Hit 4-Year High in August

South Korea's producer prices rose to a four-year high in August as the cost of farm products soared due to the unprecedented heat wave. According to data by the Bank of Korea on Friday, the producer price index, a barometer of future consumer inflation, reached 105-point-43 last month, up half of a percent from a month earlier. The August figure is the highest reading since August 2014 when the figure hit 105-point-57. The producer prices rose three percent percent last month from a year earlier.

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

U.S. dismisses N. Korea's conditional offer to dismantle nuclear site

Seoul expects inter-Korean energy cooperation after summit

South Korea is putting hopes on energy cooperation with North Korea as it found the North has an interest in energy resources and electricity fields, a state-run utility said Thursday. "We didn't discuss details on inter-Korean energy cooperation with North Korean officials, but we found they are keen to such a partnership," Kim Jong-kap, chief executive of Korea Electric Power Corp., said in a statement. Kim is one of the South Korean business leaders who accompanied President Moon Jae-in to his summit with North Korean leader Kim Jong-un from Tuesday to Thursday.

Seoul expects inter-Korean fisheries cooperation in Yellow Sea

South Korea is putting hopes in fisheries cooperation with North Korea in the Yellow Sea if the two Koreas agree to ease tensions on the military front, the oceans and fisheries ministry said Thursday. The Ministry of Oceans and Fisheries plans to seek cooperation with the defense ministry to launch joint fisheries projects between fishermen from the two Koreas if inter-Korean military tensions around the five northwestern border islands in the Yellow Sea, including Baengnyeong and Daecheong, ease, Oceans and Fisheries Minister Kim Young-choon said in a statement.

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

Moon calls for swift resumption of NK-US denuclearization talks

South Korean President Moon Jae-in on Thursday called for the US to swiftly resume talks with North Korea on denuclearizing the communist country, while also saying that a declaration of the end of the Korean War should happen as soon as possible. Briefing South Korean citizens on the outcome of the inter-Korean summit, the main business of which took place Tuesday and Wednesday, Moon said North Korean leader Kim Jong-un had expressed his desire to complete the denuclearization process as soon as possible and to focus on the economic development of his country.

Summit puts NK denuclearization back on track, eases cross-border tensions

South Korean President Moon Jae-in on Thursday wrapped up his three-day visit to North Korea, marked by two meetings with North Korean leader Kim Jong-un and signs that Pyongyang and Washington would soon return to the table for denuclearization talks. After signing the Pyongyang Declaration on Wednesday, Kim said he and Moon had “pledged to make the Joseon (Korean) Peninsula a land of peace without nuclear weapons or nuclear threats,” vowing to take additional steps toward denuclearization. He even agreed to visit Seoul later in the year, which would be unprecedented if realized.

US exempts Korean steel from import tariff, in positive signal for local steel industry

Steel products made by South Korea’s SL Tech has been excluded from the US’ steel tariffs, marking the first case of exemption since the US imposed a quota on Korean steel shipments this May, industry sources said Thursday. The US Commerce Department earlier this week accepted US medical device manufacturer Micro Stamping’s request for a tariff exemption on ultrafine steel tubes imported from Korean steel company SL Tech. Micro Stamping uses ultrafine steel tubes made by SL Tech to produce medical equipment.

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

Moon brings progress in inter-Korean relations, denuclearization

President Moon Jae-in brought home substantial progress in inter-Korean relations as well as denuclearization, Thursday, after a summit with North Korean leader Kim Jong-un in Pyongyang. The leaders agreed to ease military tension and remove the danger of war on the Korean Peninsula by setting up maritime, air and ground buffer zones along border areas.The summit also elicited a public statement from the North Korean leader on his willingness to denuclearize and produced tangible denuclearization measures, such as the permanent shutting down of the North's Tongchang-ri missile testing site in the presence of international experts.

Moon, Kim visit 'sacred' Mount Paektu

Dreams can come true. President Moon Jae-in cleared a top item off his "bucket list," Thursday, as he ascended Mount Paektu with North Korean leader Kim Jong-un. According to pool reports from Korean journalists covering the third inter-Korean summit this year, President Moon reached Chonji, the mountain's well-known crater lake, with Kim around 10:20 a.m. via cable car. The two were accompanied by first lady Kim Jung-sook, the North Korean leader's wife Ri Sol-ju and high-profile delegates from both sides. "Where is the border?" was the first comment by Moon after reaching the peak of the mountain. "There are four seasons on Mount Paektu," Kim responded.

KCC dragged down by Momentive takeover

KCC's plan to acquire U.S. silicone maker Momentive Performance Materials has been raising concerns among ratings agencies and securities firms as the $3 billion deal will be a heavy burden for the financially-struggling construction materials maker. Standard & Poor's Global Ratings recently put KCC on CreditWatch with negative implications, citing a possible deterioration in key credit measures related with the acquisition of Momentive.

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

Cheong Wa Dae Says Summit Produced More Than Hot Air

National security adviser Chung Eui-yong on Wednesday tried to dispel the impression that the latest inter-Korean summit produced little but hot air. "Broad discussions were held in addition to what was included in the joint declaration" announced by President Moon Jae-in and North Korean leader Kim Jong-un in Pyongyang the same day, Chung claimed in a meeting with reporters.

U.S. Ecstatic After Inter-Korean Summit

U.S. President Donald Trump on Wednesday hailed President Moon Jae-in's declaration with North Korean leader Kim Jong-un as "tremendous progress" although the two leaders agreed little of any substance. "Kim Jong-un has agreed to allow nuclear inspections, subject to final negotiations, and to permanently dismantle a test site and launch pad in the presence of international experts," Trump claimed hyperbolically. "In the meantime there will be no Rocket or Nuclear testing."

Seoul, Pyongyang to Make Joint Bid for 2032 Olympics

President Moon Jae-in and North Korean leader Kim Jong-un agreed on Wednesday to launch a joint bid to host the 2032 Summer Olympics. The two Koreas agreed to "enhance the atmosphere of reconciliation and unity and to demonstrate the spirit of the Korean nation both at home and abroad" with the bid. Unified Korean teams have taken part in some events of the Pyeongchang Winter Olympics in February, the World Table Tennis Championships in May, and the Asian Games in August.

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

Moon and Kim declare de facto end of Korean War

Through the Pyongyang summit, South Korean President Moon Jae-in and North Korean leader Kim Jong-un have declared the beginning of a new journey of irreversible peace, fulfilling the hopes of the 80 million people living on the Korean Peninsula. After the conclusion of the summit’s second meeting on Sept. 19 at the Paekhwawon Guest House in Pyongyang, the two leaders appeared determined as they jointly announced the September Pyongyang Declaration and Military Agreement for the Implementation of the Panmunjom Declaration. They spoke with a resolute attitude, their voices filled with conviction.

Moon and Kim ascend Mount Baekdu together

The leaders of South and North Korea climbed Mount Baekdu together all the way to Cheonji (Heaven Lake) at the top on Sept. 20. After dipping the image of a new history into Heaven Lake, so deep that its water never dries, I’m going to write a new history of the two Koreas from this moment forth.” (North Korean leader Kim Jong-un) “Now that the first step has been taken, more will follow in our footsteps, and I believe we are embarking upon an era where average South Korean citizens will be able to climb Mount Baekdu as tourists.” (South Korean President Moon Jae-in)

Moon becomes first South Korean president to deliver speech to North Korean public

South Korean President Moon Jae-in told Pyongyang residents on Sept. 19 that the Korean people “must live together.” “Today, I am proposing that we clear away the past 70 years of hostility and take a great step of peace toward becoming one again,” he said. It was the first-ever speech by a South Korean President to the North Korean public. At 9 pm on the second day of his Pyongyang visit, President Moon visited Pyongyang’s Rungrado 1st of May Stadium with North Korean leader Kim Jong-un. As a final event following a roughly 90-minute-long performance of mass gymnastics and music with Kim, the South Korean President stood behind the microphone and addressed the people of Pyongyang.

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

U.S. offers talks with N. Korea in New York, Vienna

The Donald Trump administration said it is ready to engage in talks with North Korea, just one day after South Korean President Moon Jae-in and North Korean leader Kim Jong Un signed a joint declaration in Pyongyang. Washington's move toward resuming dialogue came after Pyongyang pledged on Wednesday to dismantle its key missile facilities and suggested it would permanently shut down its main Yongbyon nuclear facility if Washington took "corresponding" actions. However, the second round of North Korea-U.S. negotiations are expected to be a tough process, as Washington stressed that Pyongyang should complete its "finally, fully verified denuclearization" by January 2021.

Parasites found for the first time in a Joseon mummy

For the first time in Korea, paragonimus westermani (a parasite that lives off the lungs of mammals) and its larvae have been discovered in the lungs of a mummy from the Joseon Dynasty. It is extremely rare to discover a parasite in the lungs of mummy. So far, scientists believed that tubercular bacillus have been the main cause behind hemoptysis (coughing up blood), but the recent discovery has suggested that paragonimus westermani could have been the culprit. People can be infected by paragonimus westermani after eating crab, lobster and freshwater fish raw or undercooked, which causes hemoptysis and pain in the chest.

Ronaldo sent off on his Champions League debut for Juventus

Cristiano Ronaldo collapsed to the ground as a referee showed him the red card. The Portuguese footballer shook his head in disbelief, with his head in his hands. His teammates appealed to the ref to no avail. His eyes were swelling with tears as he was trudging off the ground in frustration. The 33-year-old superstar forward, the UEFA Champions League's all-time leading scorer with 120 goals, saw his worst result at his first Champions League debut with Juventus. Since joining Juventus this season, he was sent off in the 29th minute from the 2018-2019 Champions League Group H opener against Valencia on Thursday.

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

High point of summit came atop Mt. Paektu

Leaders of the two Koreas vowed to open a new chapter in bilateral relations Thursday atop the highest mountain on the peninsula, Mount Paektu, before South Korean President Moon Jae-in and his delegation returned home from a three-day summit with North Korean leader Kim Jong-un. Moon, South Korean first lady Kim Jung-sook, North Korean leader Kim and his wife, Ri Sol-ju, ascended Mount Paektu’s highest peak, Janggun (9,003 feet), and viewed Cheonji crater lake on Thursday morning, realizing the President’s long-held dream of reaching Mount Paektu’s summit from the North Korean side.

Kim is genuine, insists Moon

President Moon Jae-in said Thursday he had reaffirmed North Korean leader Kim Jong-un’s commitment to denuclearization in the time spent with him in Pyongyang, noting that Kim had told him he hoped to focus on economic growth now. Speaking to reporters at the inter-Korean summit press center at the Dongdaemun Design Plaza upon his return home, the president said, “Chairman Kim expressed many times his determination for denuclearization.” Moon said the North Korean leader conveyed his wish to finish the denuclearization process so that he could focus on growing the North’s economy.

After summit, ball is in Washington’s court

South Korean President Moon Jae-in returned to Seoul on Thursday with a handful of outcomes from his third summit with North Korean leader Kim Jong-un in Pyongyang, raising expectations of progress in stalled talks between North Korea and the United States on denuclearization. Moon and Kim agreed to implement a variety of military measures that the Blue House said were equivalent to a practical “end of war declaration” between the two countries. The measures include withdrawing all guard posts from the demilitarized zone (DMZ), ending artillery exercises and banning nighttime field maneuvers along the border.

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

Kim Jong-un’s Visit to Seoul and a Complete Ban of Military Force: The Start of Irreversible Inter-Korean Relations

President Moon Jae-in and North Korean leader Kim Jong-un announced the Joint Pyongyang Declaration after a summit in Pyongyang on September 19. Mr. Kim promised to visit Seoul within the year. Minister of National Defense Song Young-moo and North Korean Defense Minister No Kwang-chol adopted the Military Agreement to Implement the Panmunjom Declaration, which went beyond a ban on all hostile activities on land, sea and air, and included a reduction of military forces. The two ministers also agreed to concrete measures that could be executed immediately, such as a test withdrawal of guard posts (GPs) within the demilitarized zone (DMZ), the joint recovery of lost soldiers, and the demilitarization of the Joint Security Area (JSA) in Panmunjom. The two Koreas also agreed to hold a groundbreaking ceremony to connect the East and West Coast railways and roads by the end of the year and establish a permanent visiting facility where separated families can meet regularly. They were all measures that dramatically advanced inter-Korean relations. There could be no greater Chuseok gift than this.

The Cougar

The history of the zoo is long. There are records of zoos in ancient Egypt and ancient China in the Yin dynasty, where people raised rare animals in captivity. The zoo in the Schonbrunn Palace in Vienna, Austria is considered the oldest modern zoo in the world. It was a royal zoo that Emperor Franz I made for his empress in 1752. The zoo that opened in Changgyeonggung Palace in 1909 was the first zoo in South Korea. Japan brought elephants, lions and tigers into Changgyeonggung Palace, where King Sunjong resided, changing the image of the palace. It was a zoo full of the grief of a ruined country.

First Day of Inter-Korean Summit Raises Expectations for Stronger Inter-Korean Relations and Progress Toward Denuclearization

President Moon Jae-in and North Korean leader Kim Jong-un launched the third inter-Korean summit in Pyongyang. On September 18, the two leaders attended a welcome ceremony at the Pyongyang International Airport, a summit meeting, a performance, and a dinner and discussed denuclearization as they went through the day's schedule. The two men talked for two hours at the Workers' Party of Korea headquarters, where Mr. Kim's office is located. In his opening remarks, President Moon said, "I hope this summit will bring about rich fruits as a Chuseok gift to the 80 million Korean people," and expressed his expectation. Mr. Kim replied, "It is no exaggeration to say that the historical meeting of (the leaders of) North Korea and the United States was possible thanks to President Moon," and said, "I expect this to stabilize the political situation in our surrounding region, and bring forth more progress." The historical meeting to seek a breakthrough in the denuclearization negotiations between North Korea and the U.S. is off to a smooth start.

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

Moon and Kim make joint journey up to sacred mountain

"My wish has come true," South Korean President Moon Jae-in enthused about his joint trip with North Korean leader Kim Jong-un to the 2,744-meter peak of Mount Paekdu. For a memorial picture, the two leaders raised each other's hand, drawing applause from South Korean first lady Kim Jung-sook and her North Korean counterpart Ri Sol-ju. "The first step has now been taken. If this step is repeated, more people will come. I believe there will come a time when ordinary South Koreans can make sightseeing trips to Mount Paekdu," Moon said.

N. Korea sends pine mushrooms as special gift for Moon

Two tons of pine mushrooms sent by North Korean leader Kim Jong-un as a special gift arrived in South Korea hours before President Moon Jae-in returned home from a historic three-day visit to the communist North. A cargo plane carried Kim's gift to a military airport in Seoul on Thursday morning, Yoon Young-chan, a senior presidential press secretary, told reporters, adding the matsutake bearing the fragrance of soil in the North would be handed out to families torn apart by the 1950-53 war.

President Moon makes first public speech in N. Korea

President Moon Jae-in made a striking appearance in Pyongyang by becoming the first South Korean leader to speak before North Korean citizens who gathered at a giant stadium to watch an evening show involving tens of thousands of school children, military bands, and professional artists. "The era of peace and prosperity", a slogan floating atop the mosaic picture of a bullet train in motion, was shown on a special moving screen created by children holding up colorful cards that marked the start of the mass acrobatic, dance and gymnastic performance Wednesday at the May Day Stadium.

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

Moon becomes first S. Korean president to visit Mt. Baekdu

Moon, an avid hiker, has long expressed his wishes, both publicly and privately, to visit Mount Baekdu not through China but through the Korean side. He finally fulfilled that dream, becoming the first leader in the South to make a trip to the sacred mountain from North Korea when still in office. Mount Baekdu, meaning white head, sits on the North’s border with China and is the tallest peak on the Korean Peninsula, standing at 2,744 meters (9,003 feet). The active volcano mountain is of great historical significance for both Koreas as it is considered the birthplace of both the founder of ancient Korea’s first kingdom and Kim Jong-un’s father, Kim Jong-il.

Hyundai Motor to supply 1,000 hydrogen trucks to Switzerland

South Korea’s Hyundai Motor Co. has clinched a milestone order to supply 1,000 hydrogen-powered trucks to Switzerland over the next five years, making its first inroad into Europe with clean-fuel heavy-duty vehicle. The company said Thursday that it signed a memorandum of understanding with Swiss hydrogen company H2 Energy (H2E) to provide 1,000 fuel cell electric trucks incrementally from 2019 during the ‘IAA Commercial Vehicles 2018’ in Hanover, Germany on Wednesday (local time). The company did not disclose the value of the contract.

SK Group invests $470 mn in Vietnam’s Masan Group

South Korea’s third-largest conglomerate SK Group has agreed to buy a 9.5 percent stake in Masan Consumer Holdings Co., the holding company of Vietnam’s major conglomerate Masan Group, for $470 million as part of efforts to grab a bigger piece in the Southeast Asian market. SK Group said Wednesday it struck a strategic alliance with Vietnam’s Masan Group to jointly seek out new businesses and pursue merger and acquisition deals in Vietnam and other Southeast Asian countries.

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