Headlines, October 31, 2018

Wednesday, October 31, 2018

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.

S. Korea, U.S. to launch working group on N. Korea

South Korea and the United States have agreed to launch a working group to improve coordination on their joint approach to North Korea, the U.S. State Department said on Oct. 30, 2018. The agreement was reached during a trip to Seoul this week by U.S. Special Representative for North Korea Stephen Biegun, according to the department's deputy spokesperson, Robert Palladino.

Industry minister vows to support slumping manufacturing sector

South Korea's industry minister has vowed to come up with support packages for the auto and shipbuilding companies to tackle challenges facing the sluggish manufacturing sectors. Sung Yun-mo, minister of trade, industry and energy, put top priority on revitalizing the key manufacturing sectors as local parts makers have been grappling with falling demand and financial problems.

Beer exports increase with growing popularity in China

Exports of South Korean beer have jumped more than 50 percent so far this year compared with the same months last year, driven by growing popularity in China, data showed on Oct. 31, 2018. Figures from the Agro-Fisheries & Food Trade Corp. (aT) showed exports of US$121 million in the January-September period, up 56.3 percent from $78.2 million in the same months last year. The total up to end-September already has exceeded the $112.4 million for all 2017, according to the data.

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

Gov't Reveals Revision Bill to Local Autonomy Law

The government on Oct. 30, 2018 disclosed the whole text of a plan to revise the local autonomy law. It is the first revision to the law in 30 years. The bill is designed to enhance public participation in regional governance and increase autonomy and responsibility of regional governments.

Auditor to Inspect Hiring Scandal at Public Firms

The government says it is planning to audit Seoul Metro on suspicions of hiring irregularities and possible misuse of government funds. Seoul City officials requested the Board of Audit and Inspection to look into allegations the subway operator may have granted job-related favors to family members of existing employees.

Education Authorities to Hold Meeting on Kindergartens' Possible Shutdown

Education authorities will hold an emergency meeting on Sunday afternoon to discuss measures to deal with a possible shutdown of private kindergartens amid calls for efforts to address irregularities in preschool facilities. In the meeting, the Education Ministry and education offices of 17 cities and provinces will check the situation of private kindergartens moving to suspend operations or refusing to admit new students in protest of a set of government measures aimed at improving their transparency.

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

Credit card firms brace for big losses in commission income from more cuts

Credit card companies fear big losses when their commission fees collected from merchants are slashed in volumes much larger than initially thought, industry officials said on Oct. 31, 2018. A review is under way to set the basic cost of processing credit card payments, and officials say financial regulators see a cut of up to 0.23 basis point in the fees.

N. Korean vice foreign minister meets Russian counterpart

A senior North Korean diplomat met his Russian counterpart on Oct. 30, 2018 amid speculation that North Korean leader Kim Jong-un could visit Moscow for his first summit with Russian President Vladimir Putin. North Korean Vice Foreign Minister Sin Hong-chol met Russian Deputy Foreign Minister Igor Morgulov in Moscow. The meeting lasted around three hours and 30 minutes.

Moon calls for expanding renewable energy production

President Moon Jae-in called Tuesday for sharply expanding renewable energy production, saying it's not only clean and safe, but the industry will also create a number of jobs and help fuel economic growth. Moon made the remark during a ceremony held in the southwestern coast city of Gunsan to announce ambitious plans to establish one of the world's biggest renewable energy production complexes on the Saemangeum reclaimed land in the region.

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

Hanwha Q Cells Korea seeks to remain top solar cell maker

Hanwha Q Cells Korea, the solar cell and module manufacturer under Hanwha Group, on Oct. 30, 2018 revealed its factory in North Chungcheong Province, as it seeks to top the global solar power market backed by the smart factory and improved management efficiency.

Top US nuke envoy reaffirms allies’ shared objective of denuclearizing NK

The top US nuclear envoy reaffirmed that Washington and Seoul were on the same page on achieving the denuclearization of North Korea, amid concerns about possible discord between the allies over the pace of developments in inter-Korean relations. “We want the same thing for the Korean Peninsula -- peace and stability, primarily denuclearization of North Korea,” Stephen Biegun, US special representative for North Korea, said before entering a meeting with Unification Minister Cho Myoung-gyon.

Will Seoul partially scrap its free Seoul subway rides program for elderly?

Finance Minister Kim Dong-yeon on Oct. 29, 2018 said it is “appropriate” for the central government to consider partially abolishing the program for free subway rides for the elderly in the Seoul metropolitan area, which costs the Seoul subway operators billions of won in losses every year. As the senior population -- those aged 65 or older -- accounts for 14.3 percent of the entire population now, and is only expected to rise, many politicians have shied away from tackling the sensitive issue, fearing it would cost them a significant number of votes.

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

US calls on Seoul to slow North Korea policy

Washington appears to have asked Seoul to backtrack "a bit" on President Moon Jae-in's headlong approach emphasizing dialogue and engagement with North Korea, a government official said on Oct. 30, 2018. U.S. Special Representative for North Korea Stephen Biegun met with Presidential Chief of Staff Im Jong-seok, late Monday, at the presidential office and the two had "intensive talks" on various issues including steps to achieve the complete and verifiable denuclearization of the North, Cheong Wa Dae said.

ROK, US to hold defense talks in Washington DC

Defense chiefs from South Korea and the United States will discuss top security issues during their annual defense meeting, or the Security Consultative Meeting (SCM), on Oct. 31, 2018. South Korean Defense Minister Jeong Kyeong-doo and his Washington counterpart Jim Mattis, are expected to narrow their differences with a keen focus on the upcoming transfer of the Operational Control Command Control (OPCON).

Presidential chief of staff under siege

Rep. Kim Sung-tae, floor leader of the main opposition Liberty Korea Party (LKP), rapped Presidential Chief of Staff Im Jong-seok Tuesday for getting "too big-headed" during the President's absence on his recent European tour. The criticism came as Im visited the Demilitarized Zone (DMZ) on the inter-Korean border Oct. 17, in what Cheong Wa Dae said was aimed at a field-inspection on demining activities there.

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

Xiaomi to Launch New Smartphone in Korea Next Month

China's Xiaomi will begin selling its Pocophone F1 smartphone in Korea next month.The phone, slated for launch on Nov. 19, is equipped with high-end features but costs less than half as much as premium handsets on the market, the handset maker said at a press conference in Seoul on Oct. 29, 2018.

Seoul City to Expand Free Meals to High Schools

The Seoul Metropolitan Government plans to expand free meals to high schools by 2021. Currently, free meals are served only at elementary and middle schools. In a joint press conference with Education Superintendent Cho Hee-yeon on Oct. 29, 2018, Mayor Park Won-soon pledged to "let all students in the city have eco-friendly free lunches" in cooperation with the Seoul Metropolitan Office of Education.

Chinese Spy Jet Enters Korea's Air Identification Zone Again

A Chinese military reconnaissance jet flew into Korea's air defense identification zone again without warning on Oct. 29, 2018. It flew from an area near Jeju Island at around 10:00 a.m. and stayed for about five hours before turning back at about 3:00 p.m., according to the Joint Chiefs of Staff. This was the sixth time this year Chinese military aircraft intruded into the KADIZ.

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

Abe voices “dismay” over controversy surrounding Rising Sun Flag at intl. naval review

Japanese Prime Minister Shinzo Abe voiced his “dismay” over the recent controversy regarding the planned raising of the Rising Sun Flag at the International Fleet Review in Jeju and a visit to the Dokdo islets by members of the South Korean National Assembly. The message was Abe’s first statement of a position on the matters.

South and North Korea may make joint bid for UNESCO intangible cultural heritage registration

The governments of South and North Korea have submitted separate applications to UNESCO to add a traditional type of wrestling known as ssireum to the organization’s list of intangible cultural heritages, but there’s a growing likelihood that the two applications will be combined into one winning bid.

Seoul to provide free “eco-friendly” lunches to all public schools from 2021

Seoul Mayor Park Won-soon and Seoul Metropolitan Office of Education Superintendent Cho Hee-yeon announced on Oct. 29 at Seoul City Hall’s press room that the city will be begin providing free, eco-friendly meals at all public elementary, middle and high schools starting in 2021. The program will also include 43 private and international schools.

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

Japan condemns S. Korean Supreme Court’s verdict

South Korea’s Supreme Court on Tuesday ordered a Japanese steelmaker Nippon Steel & Sumitomo Metal Corps. (NSSM) to compensate South Koreans for wartime forced labor and unpaid work. Japan has expressed strong regret at the top court’s ruling, summoning Seoul’s top envoy in Tokyo Lee Su-hoon to lodge a protest.

KT to establish ICT infrastructure in Egypt

KT showcased its GiGA Wireㅡtelephone line-based internet technologyㅡ technology in Egypt, where the average internet speed is only 5 percent of that of Korea. The company will establish ICT-based KT smart infrastructure at the Suez Canal, which connects Europe and Asia.

How will Korea look in the eyes of foreign tourists?

“Welcome, First time in Korea?” of MBC Everyone, which marked its second season this year, is an entertainment program that was initiated July last year upon this simple question. A foreigner who resides in Korea invites three friends. Those friends enjoy traveling Korea freely on their own or go on a trip that was prepared by their friend.

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

Top court rules against Japan over forced labor

Korea’s Supreme Court upheld a lower court’s ruling on Oct. 30, 2018 ordering a Japanese steel company to compensate four Koreans who were forced into labor during Japan’s colonization of the Korean Peninsula in the early 20th century. The ruling is expected to drive another wedge between the Asian neighbors while opening the door for other Korean victims to ask for unpaid wages more than 70 years after their conscription.

U.S. pressures chaebol on North

Washington has contacted four major South Korean conglomerates that sent representatives to Pyongyang last month for the inter-Korean summit to put the brakes on economic cooperation with the North, confirmed a Blue House source on Oct. 30, 2018. “The U.S. Embassy in Seoul is known to have directly called key companies to discern the status of the cooperation projects discussed during their visit to the North,”

Roadshow considered to boost Kospi after fall

Finance Minister Kim Dong-yeon on Tuesday said the government could go on an international roadshow or increase local share purchases by public institutions to stabilize Korean stock prices.“We are currently monitoring the situation and will present a contingency plan if the recent decline continues,” Kim said.

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

An End to Chaebol Intracompany Trade and Gapjil Is the Start of a Fair Economy

In an interview with the Kyunghyang Shinmun, Kim Sang-jo, chairman of the Fair Trade Commission said that he would begin to tackle the problems of internal transactions and unfair subcontracting. Kim said, "These two issues are the two major axes in chaebol reforms," and added, "Based on the investigation so far, we will have these two actions receive the judgment of the Fair Trade Commission." At the same time, Kim cited Samsung and SK of the four major groups as the targets and suggested the implementation of restrictions.

The Cruel Reality of Domestic Violence: No Investigation Even When Cases Are Reported

The number of reports on domestic violence has surged, but the police arrested the suspect and actively investigated only one out of ten incidents. According to the information that Democratic Party of Korea lawmaker Kang Chang-il received from the National Policy Agency on October 29, over 1.1 million cases of domestic violence were reported during five years, from 2013 to 2017. Among them, 280,000 cases were reported last year.

Im Jong-heon Arrested: The Court Acknowledged the Existence of the Abuse of Court Authority

The first arrest was made in the investigation of the abuse of court authority under Yang Seung-tae four months after the investigation first launched. Im Jong-heon, former assistant director of the National Court Administration was arrested on October 27.

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

Nuclear power operator wins deal to build world's largest floating solar power station

Korea Hydro & Nuclear Power (KHNP), the state-run operator of nuclear power plants, set a new record in South Korea's solar energy history by winning a deal to build the world's biggest floating solar power system on an artificial reservoir created by a giant seawall on South Korea's southwest coast.

Hyundai Construction Equipment co-develops electric mini excavator with Cummins

Hyundai Construction Equipment (HCE), a heavy equipment maker in South Korea, has developed an electric powered mini excavator in a joint project with Cummins, an American diesel and alternative fuel generator maker, to target the global market.

S. Korea unveils new project to build clean energy complex on reclaimed land

A massive clean energy complex will be built on reclaimed land in South Korea in a state project sponsored by President Moon Jae-in who has launched a campaign to replace nuclear reactors and other fossil-fueled power plants with renewable energy sources.

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

Samsung Elec scales back 2018 capex, Q3 OP in chips at record $12 bn

South Korea’s Samsung Electronics Co. on Wednesday scaled back this year’s capital investment and dividend payout from all-time high levels of last year to suggest it is readying for a fizzling-out in the memory boom that kept up record-breaking earnings streak at least until the third quarter of this year.

S. Korea to build 4GW massive renewable energy farm on Saemangeum

South Korea will establish a 4GW renewable energy production complex on Saemangeum, a vast tract of reclaimed land on the west coast. On Oct. 30, 2018, Saemangeum Development and Investment Agency and Jeonbuk Province held a ceremony to declare a vision for a top-notch renewable energy production cluster in the reclaimed area.

S. Korean manufacturing payroll falls in Sept, first since Dec.

South Korea’s manufacturing sector showed a downturn in payroll for the first time in 2018 in September amid higher labor costs, cut in work hours, and slowing demand. According to data released by the Ministry of Employment and Labor, a total of 3.627 million worked in manufacturing sites employing more than one full-timer as of the last working day in September, down 50,000, or 0.1 percent from a year ago. The last time the data showed a fall was in December with a loss of 2,000.

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