Headlines, October 25, 2018

Thursday, October 25, 2018

Interview with Commercial Officer Pyrih of Ukraine

‘Korean firms are encouraged to join agribusiness, agritechnology, solar-wind power and more’

Prime Minister Volodymyr Groysman of Ukraine

By Publisher-Chairman Lee Kyung-sik with Editor Kim Jung-mi, Reporter Kim Sua

While some countries of the world give Korean companies a hard time for political or other reasons, there are many other countries where the prospect of good business (and good money-making) is very bright. In most such countries, the people traditionally have friendly feelings toward Korea and the Korean companies, for that matter, and provide the best support and assistance for mutual prosperity between the two countries. One such country is the Republic of Ukraine, and this became immediately apparent at a recent interview with Commercial Officer First Secretary Roman Pyrih of the Embassy of Ukraine in Seoul.

(For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=7787)

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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.

U.S. position on N.K. sanctions unchanged as Koreas push railway project: State Dept

The United States has not changed its position that sanctions on North Korea must remain in full force despite the two Koreas' push to reconnect railways and roads across their border, a U.S. government spokesperson said on Oct. 24, 2018. South Korea and North Korea plan to hold a groundbreaking ceremony between late November and early December to reconnect and modernize railways and roads along their eastern and western coasts.

Two Koreas, UNC to complete JSA disarmament process

The two Koreas and the U.S.-led U.N Command (UNC) will wrap up the process of disarming the Joint Security Area in the Demilitarized Zone (DMZ) on Oct. 25, 2018, officials said. They will complete the work of withdrawing military posts, troops and firearms from the JSA in the buffer zone separating the two Koreas, in line with last month's inter-Korean agreement aimed at reducing tensions, preventing accidental clashes and building mutual trust.

Gov't, ruling party unveil measures to root out preschool irregularities

The government and the ruling Democratic Party (DP) on Thursday unveiled a set of strict measures to eradicate irregularities and enhance accounting transparency at private kindergartens. Government and DP officials held a meeting amid growing public uproar sparked by a lawmaker's revelation of widespread corruption among preschool owners, including accounting fraud, budget misappropriation and other irregularities.

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

Railway Union Plans 1st Walkout in 2 Years

South Korea’s railway labor union plans to go on a strike next month following a breakdown in wage negotiations with the state-run rail operator. The Korean Railway Workers’ Union on Oct. 24, 2018 held a national meeting to confirm three walkout plans starting with a strike at 9 a.m. on November eighth and a final protest at 9 a.m. on November 12th.

Minister: S. Korea to Reveal Stance on Japan-Funded Foundation by Early Nov.

South Korea’s Gender Equality and Family Minister says Seoul will announce its stance on a Japan-funded foundation for Korean victims of sexual slavery by early next month. Jin Sun-mee revealed the prospective plan in a meeting with reporters on Oct. 24, 2018 to mark her first month in office. She said the government’s position on what to do with the Reconciliation and Healing Foundation has virtually been determined, adding that discussions are now focused on when and how it will be announced to the public.

DP Launches Committee to Help Inter-Korean Sports, Culture Exchanges

The ruling Democratic Party(DP) has launched a special committee to assist inter-Korean culture and sports exchanges, including a plan to co-host the Olympics in 2032. At the launching ceremony on Wednesday, Representative An Min-suk, the chairman of the committee, said the entity will work for efficient and systematic assistance and management of inter-Korean exchanges on culture and sports and seek to bridge related efforts between the government and private sectors.

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

U.S. position on N.K. sanctions unchanged as Koreas push railway project: State Dept

Hyundai Rotem wins US$71 mln subway order in Kazakhstan

Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said on Oct. 25, 2018 it has received a US$71 million subway order for the Almaty Metro in Kazakhstan. Under the deal, Hyundai Rotem will supply 32 electric multiple units to the metro service operator by 2020. In 2010, Hyundai Rotem supplied 28 electric multiple units to the Almaty Metro.

Hyundai Nexo wins five-star rating in Euro NCAP testing

Hyundai Motor Co. said on Oct. 25, 2018 that its Nexo hydrogen fuel-cell electric car received a five-star overall rating from the European New Car Assessment Programme (Euro NCAP). The Nexo is equipped with active safety and driving assistance technologies, which significantly lower the risk of collisions and increase passenger comfort for the emission-free vehicle, Hyundai said in a statement.

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

Seoul’s ‘hero’ campaign sparks gender debate

Seoul’s new campaign to encourage people to help strangers has generated controversy with an illustration that depicts a male figure as the symbol of heroism. Critics argue that the campaign’s visuals suggest it is a man’s job to help others. The Subway Hero Zone, currently installed next to a couple of stairways at City Hall Station, depicts a muscular man with a cape next to a suitcase and a baby stroller.

Seoul to speak to Tokyo on controversial “comfort women” funds

South Korea’s Vice Foreign Minister Cho Hyun is visiting Japan on Oct. 24, 2018 and Oct. 25 to meet his Japanese counterpart Takeo Akiba to discuss the controversial compensation fund Tokyo offered in 2015 for Korean victims of Japan’s wartime slavery, which the Korean victims have been refusing to accept, a government official said. The 1 billion yen ($9 million) fund was provided by Tokyo as part of the controversial 2015 Seoul-Tokyo deal to settle the issue of “comfort women”-- South Korean victims who were forced work in Japanese brothels during World War II.

Number of women corporate executives increases, but ratio still low

The number of female executives at South Korea's top 100 companies doubled from five years ago to more than 200, but the increase in the ratio to the total number was still paltry, at 3.2 percent, the latest figures showed. Analysis by market researcher Korea CXO Institute counted 216 women in the C-suite. Members from corporate ownership families and outside members of boards of directors were excluded from the count.

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

Assembly launches committee for electoral reform

The National Assembly officially launched its political reform committee, on Oct. 24, 2018, to discuss how to change the country's electoral system. The committee, headed by Rep. Sim Sang-jeung of the small liberal Justice Party, has 18 members from ruling and opposition parties.

KAI donates $100,000 to Indonesia

The Korea Aerospace Industries (KAI) will donate 113.8 billion won (about $100,000) to Indonesia to help them rebuild following earthquakes and tsunamis, KAI said on Oct. 24, 2018. The donation will be delivered to Indonesia via Korea Red Cross and will be used for the speedy recovery of the affected region and for relief supplies to help locals, KAI said in a statement.

Gov't to create 59,000 jobs, cut fuel taxes

The government will create 59,000 temporary jobs and lower taxes on refined fuel products by 15 percent for the next six months in a bid to reinvigorate the sluggish economy. Seventeen trillion won ($13 billion) will be spent within the year to bolster private investment amid the protracted economic downturn and weak jobs data.

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

Factory Owners to Visit Kaesong Industrial Park Next Week

Plans are underway for South Korean business owners to visit the North Korean border town of Kaesong next week to inspect their factories in the shuttered industrial park there. Seoul is talking with Pyongyang to allow businesspeople who have invested in the Kaesong Industrial Complex to inspect their assets there, Unification Ministry spokesman Baek Tae-hyun told reporters on Oct. 24, 2018. They will go in several groups for a day each from Oct. 31.

Generals from 2 Koreas to Meet on Friday

The two Koreas will hold another round of talks in the border truce village of Panmunjom on Friday to discuss the launch of a joint commission to implement an inter-Korean military agreement, the Defense Ministry said on Oct. 24, 2018. President Moon Jae-in on Tuesday drew heavy flak for signing the controversial military agreement into law without submitting it to the National Assembly for ratification.

Lotte Chief Pledges Massive Investment, Job Creation

Lotte Group will invest W50 trillion and hire 70,000 new staff over the next five years, chairman Shin Dong-bin pledged in an executive meeting on Oct. 23, 2018 after being sprung from jail earlier this month (US$1=W1,137). "We should respond to an uncertain future and unpredictable changes beforehand," Shin said. "In a difficult situation, we need to invest more aggressively."

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

BMW implements additional recall of over 65,000 cars

BMW is implementing an additional recall on over 65,000 vehicles from 52 models that were not included in a previous recall in July. Many of the vehicles in question have the same exhaust gas recirculation (EGR) modules as the previous vehicles but were not excluded from the recall on BMW’s own judgment.

National Economic Advisory Council to adopt implementation plan for 52-hour work week

The National Economic Advisory Council (NEAC) announced on Oct. 23 that it will be convening a subcommittee meeting to devise an implementation plan for reduce working hours by November. With its announcement, the government officially stated that it is developing supplementary measures after previously announcing plans for a six-month grace period on policing and punishment with the adoption of the 52-hour workweek in July.

N. Korea and US have yet to determine date and location of high-level talks

North Korea and the US have yet to set a date and venue for their planned high-level talks, with White House National Security Advisor John Bolton saying a second summit between the two sides will probably take place after Jan. 1 of next year.

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

N. Korea announces it will lift freeze on Kaesong complex assets

It has been confirmed that North Korea would lift the freeze of South Korean assets within the Kaesong Industrial Complex. North Korea’s action comes in two years and eight months since it unilaterally froze the assets in February 2016, protesting against South Korea’s decision to shut down operations. With the freeze lifted, inter-Korean economic cooperation is expected to accelerate, in addition to President Moon’s ratification of the Joint Pyeongyang Declaration, which commits to normalize complex operations, on October 23.

Hyundai Mobis develops advanced automatic headlamp system

Hyundai Mobis Co., Korea's largest auto parts maker, said on Oct. 24, 2018 that it has developed the world’s first advanced headlamp system that automatically controls vehicles’ headlamp beams. If commercialized, the technology is expected to help reduce car accidents caused by high beams or strong glare obstructing the visions of other vehicles’ drivers.

Locally developed surgery robot performs disk surgery

“I see the disks below and the nerves above them and fat tissues around them.” At 11:30 a.m. on Wednesday, Dr. Shin Dong-a, a professor of neurosurgery at Severance Hospital in western Seoul, said so, while inserting a catheter, a thin medical tube, into the waist of a human body for cadaver dissection.

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

Human rights can’t be ignored, says UN envoy

A UN investigator raised concerns on Oct. 23, 2018 in Washington that North Korea’s human rights situation was being ignored in U.S. and South Korean talks with the regime, stressing that nothing has improved in North Korea. The remarks, relayed by Tomas Ojea Quintana, the UN’s special rapporteur on North Korean human rights issues, came amid reports that Japan and the European Union were drafting a UN General Assembly resolution condemning the North for human rights abuses.

Blue House defends ratification

The Blue House on Oct. 24, 2018 rebuked the opposition’s argument that an inter-Korean military agreement signed last month in Pyongyang was subject to parliamentary approval, saying it was not a treaty with another state, drawing its logic from the Constitution.

The presidential office’s rebuttal came after the major opposition Liberty Korea Party (LKP) pointed out that the South-North military agreement signed as an annex to the Pyongyang Declaration last month should be examined by the National Assembly for approval because it involves national security as a treaty with North Korea.

North irked by forestry discussion

Talks between South and North Korea on Oct. 22, 2018 on forestry issues disappointed the delegation from Pyongyang, which was blunt about its disgruntlement, particularly Seoul’s attitude toward international sanctions. Forestry officials from the two Koreas held discussions at a new joint liaison office in the North’s border city of Kaesong on Oct. 22, 2018, the first to be held in the building.

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

City of Seoul to Provide Care Services Currently Handled by the Private Sector

The Seoul Metropolitan Government has decided to provide a variety of care services that had been left in the hands of the private sector and to establish an agency to oversee the affairs in the first half of next year. Seoul will be the first local government among the metropolitan and provincial governments to run an agency and directly provide care services. On October 23, the city announced that it decided to launch the Seoul Social Service Center (tentative name) in the first half of next year. The center will directly handle social services focusing on care services, such as childcare, elderly care, and support for the disabled.

Does the Liberty Korea Party Have the Right to Criticize the Government's Ratification of the Pyongyang Joint Declaration?

On October 23, President Moon Jae-in ratified the Pyongyang Joint Declaration and the inter-Korean military agreement to implement the Panmunjom Declaration after reviewing and passing them in a cabinet meeting. By ratifying the two agreements, the president plans to add stability to inter-Korean exchanges and cooperation and continue measures to ease military tensions between the two Koreas while accelerating efforts to denuclearize the peninsula. The Democratic Party of Korea, the Party for Democracy and Peace, and the Justice Party welcomed the president’s action claiming that it was an inevitable measure.

ROK-US Voice Different Views on Suspending Joint Military Exercise

Minister of National Defense Jeong Kyeong-doo and U.S. Defense Secretary James Mattis met in Singapore on October 19, but later spoke different views on Vigilant Ace, an ROK-US joint Air Force exercise. The Pentagon announced that they decided to suspend the military exercises "to give the diplomatic process (for denuclearization) every opportunity to continue." However, a day later, South Korea announced, "It is true that we decided to suspend the exercises, but we decided to further discuss supplementary measures after considering preparedness."

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

Nuclear-exit policy places extra burden on S. Korean taxpayers

President Moon Jae-in's campaign to replace fossil-fueled power plants with clean and renewable energy sources requires a whopping amount of state money, but it may place an extra burden on South Korean taxpayers for after treatment, according to a government report released by a ruling party legislator in a parliamentary committee.

LG to start commerical production of 8K OLED displays next year

LG Display, a top flat panel maker in South Korea, will embark on the commercial production of 8K ultra high definition (UHD) displays, based on organic light-emitting diode (OLED) technology, in the first half of next year, despite the absence of related broadcasting resources.

Hyundai releases new i30 inspired by high-performance brand 'N'

Hyundai Motor released "i30 N Line", an upgraded version of its compact hatchback i30. It was inspired by the carmaker's high-performance N brand and bears an aggressive and dynamic look. Hyundai introduced N, the sub-division for high-performance vehicles in 2015, in an effort to compete with top-class foreign brands such as AMG of Mercedes Benz and BMW's M. Hyundai's high-performance vehicles -- i30 N and Veloster N -- were released in 2017 and 2018.

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

S. Korean business owners may be allowed to visit Kaesong Industrial Complex

About 150 South Korean tenants at Kaesong Industrial Complex, the first and longest lasting inter-Korean venture, will return to the industrial park next week at the earliest for the first time they were forced to pack out in February 2016. The South Korean government is in talks with North Korea to allow the business owners to check their assets and properties in the industrial complex, said Paek Tae-hyun, a spokesperson of the Unification Ministry on Oct. 24, 2018.

17th World Korean Business Convention kicks off with president’s congratulatory message

The 17th World Korean Business Convention kicked off at Songdo Convensia in Incheon on Oct. 23, 2018. The thee-day event was co-organized by Maeil Business Newspaper and MBN, Overseas Koreans Foundation and Incheon Metropolitan City. This year’s convention attracted 3,500 people including 1,000 ethnic Korean entrepreneurs from 60 countries around the world and 2,500 Korean business leaders, the largest turnout it has ever had.

Korean PM proposes hydrogen-powered police buses

South Korea’s Prime Minister Lee Nak-yon Wednesday proposed to replace raid police buses mostly parked stationarily near the U.S. embassy and key government buildings in central Seoul with new hydrogen-powered buses as part of efforts to promote the use of the emission-free vehicles.

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