UPDATE : 2018.11.12 MON 18:08
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Headlines, November 7, 2018

Wednesday, November 7, 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 discovers 2 additional sets of Korean War remains in DMZ

South Korea has found two additional sets of Korean War remains during its demining and road construction work in a notorious battle site inside the Demilitarized Zone (DMZ), Seoul's defense ministry said on Nov. 6, 2018.The ministry's Agency for KIA Recovery and Identification retrieved human bones, a fibula on Oct. 29 and a tibia on Monday, from Arrowhead Ridge, or Hill 281, which was a site of fierce battles during the 1950-53 Cold War conflict. KIA stands for "killed in action."

Major firms' R&D spending increases 7.9 pct in 2017

Major South Korean companies' spending on research and development (R&D) rose about 8 percent on-year in 2017, with the top seven firms taking up nearly 60 percent of the total, a state think tank said on Nov. 7, 2018. The combined expenditures by the nation's top 1,000 firms in terms of R&D spending came to 46 trillion won (US$40.9 billion) last year, up 7.9 percent from the previous year, according to the Korea Institute for Advancement of Technology.

2 in 5 state firm executives named via connections: report

Two in 5 executives at South Korea's public corporations have been appointed through political connections without regard to their work capability or professionalism, a report said on Nov. 7, 2018. The report by CEO Score, which tracks corporate management, showed 118 out of the 316 executives at 35 state firms and their 12 subsidiaries are former government officials or politicians.

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

Seoul Says US Forces Need to Remain Regardless of Peace Deal

Seoul's Foreign Ministry says that U.S. troops need to remain in South Korea even after a peace deal is reached on the Korean Peninsula. A ministry official made the remark Tuesday in response to comments by U.S. Joint Chiefs of Staff Chairman Joseph Dunford that the U.S. will have to make changes to its military posture on the peninsula if talks with North Korea advance.

Less than Half of S. Koreans Consider Marriage Necessary

Forty-eight percent of South Koreans aged 13 or older think marriage is a necessity, marking the first time the percentage has dipped below 50. On the other hand, the percentage of people who believe a couple can live together without tying the knot has topped 50 percent for the first time to reach 56-point-four percent.

Korean-Americans Vying For Congressional Seat During Midterm Elections

Tuesday's midterm elections in the United States include a number of races involving Korean-Americans. Three Korean-Americans are vying for seats in the House of Representatives. Republican Young Kim running in California's 39th District is a former assistant to Congressman Ed Royce.

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

Minister apologizes for troops' sexual violence in 1980 crackdown on Gwangju uprising

Defense Minister Jeong Kyeong-doo apologized Wednesday over the sexual assaults by troops during their brutal crackdown on a 1980 pro-democracy uprising in the southwestern city of Gwangju. During a nationally televised press conference, Jeong pledged to spare no efforts to console the victims and make utmost efforts to restore their honor and prevent any recurrence, while stressing that the military is to exist to support citizens, not those in power.

Korean Air to move data to Amazon cloud in next 3 years

Korean Air Lines Co., South Korea's national flag carrier, said Tuesday it will transfer most of its data and applications to Amazon's cloud computing platform to overhaul its entire IT infrastructure in the next three years. The planned data migration to Amazon Web Services (AWS) is part of Korean Air's broader plan to invest 200 billion won (US$178 million) in the next 10 years to accelerate the company's digital innovation and transformation, Korean Air said in a statement.

Finance minister vows additional steps if housing prices do not stabilize

South Korea's chief economic policymaker said Tuesday that the government will take stronger measures if home prices do not stabilize. In September, the government said it will levy tougher taxes than originally planned as it strives to rein in soaring housing prices.

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

Fine dust reduction measures to take effect Wednesday

Emergency fine dust reduction measures will go into effect for Seoul, Incheon and much of Gyeonggi Province on Wednesday, as fine dust in the atmosphere has shot up to unhealthy levels. The measures will kick in at 6 a.m. and last until 9 p.m., according to the Environment Ministry.

Migrants unwittingly take center stage in US vote

The Central American migrants trekking toward the United States in a caravan have unwittingly become key players in Tuesday's US midterms, though many are not even aware the elections are happening. As Americans headed to the polls for a vote seen as a referendum on Donald Trump's presidency, it was just another day on the road for some 4,500 migrants camped out at a stadium-turned-shelter in Mexico City.

Deceased man tested negative for MERS

A 61-year-old man who was suspected of having died from Middle East respiratory syndrome tested negative for the disease in a preliminary test, Incheon city authorities said Tuesday. The man, who had returned from a four-month business trip to Iraq via Qatar on Monday, died Tuesday morning at a hospital in Incheon, after showing symptoms associated with MERS. According to the authorities, he had high fever and was coughing when he fell unconscious in a jjimjilbang in Incheon.

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

North Korea's protocols for visiting dignitaries

North Korea has a set of protocols for visiting heads of state, shown during President Moon Jae-in's visit to the capital Pyongyang and repeated for Cuba's President Miguel Diaz-Canel, who visited this week for the first summit between the countries in 32 years.

Economy expected to worsen further in 2019

The Korean economy is expected to deteriorate further in 2019 amid lingering global uncertainties coupled with domestic woes, said a group of noted authors of new book "2019 Economic Issues & Trends," Tuesday. They forecast that Asia's fourth largest economy will be bogged down by the ongoing, hegemony-oriented trade tension between the U.S. and China, further compounded by what they dubbed a "fiscal trilemma," a situation where the government has no optimal solution to adequately manage three key components to "good governance" ― high-quality welfare, low tax and low government debt.

Seoul exploring new taxes on Google.

Google is likely to face new taxes in Korea on revenue from digital services, as the country has vowed to join a global wave of tackling tax avoidance by internet media companies. Following Spain, Britain proposed a 2 percent tax on global technology giants like Google, Amazon and Facebook, Tuesday, on profits they make through search engines, social media platforms and online marketplaces.

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

Dirty Diesel Cars Banned from Roads as Smog Thickens

The government on Tuesday took this season's first emergency measure on Tuesday to reduce smog in the Seoul metropolitan area. Superannuated diesel cars are banned from downtown Seoul from 6 a.m. to 9 p.m. on Wednesday, and 456 parking lots at public corporations will be closed.

Hyundai to Mark 20th Anniversary of Package Tours in N.Korea

Hyundai Asan will hold a celebration marking the 20th anniversary of package tours to the North Korean resort of Mt. Kumgang in collaboration with the North's Korean Asia-Pacific Peace Committee on Nov. 18-19, a spokesman said Monday. "We're now waiting for an invitation of staff to the North to prepare for the celebration," the spokesman added.

Safety Concerns Trump Combat Readiness in Military

Safety concerns increasingly trump combat readiness in the Army as a new generation of coddled young men embark on their mandatory military service and officers grow wary of taking responsibility. A National Assembly audit last month revealed that the Army has not trained new military recruits in the use of hand grenades for the last three years. The measure was taken after one conscript died and two were injured during a grenade-training exercise in September 2015.

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

Gyeonggi Province to pay “youth dividend” of 1 million won to all people of certain age

Next year, Gyeonggi Province will be paying a “youth dividend” of 1 million won (US$889) to all young people of a certain age, the first such payment by a provincial government in South Korea. The youth dividend that was first introduced by the city of Seongnam in 2015 is now spreading across the entire province.

South and North launch joint hydrographic survey of Han and Imjin estuaries

South and North Korea launched a hydrographic survey for the joint use of the Han and Imjin River estuaries for the first time in the 65 years since the armistice agreement was signed in 1953. As improvements continue in inter-Korean relations, the “peace wave” has been rippling from the border regions of Gyeonggi Province and Gangwon Province all the way to Jeju Island.

Moon prepares for possible reciprocal visit from Kim Jong-un to be held within the year

Given the delay of the second North Korea-US summit, South Korean President Moon Jae-in said that the schedule of North Korean leader Kim Jong-un’s reciprocal visit to Seoul was being arranged on the assumption that the visit would take place before the end of the year. Moon asked the National Assembly to issue a statement welcoming Kim Jong-un to Seoul while promising not to push ahead with the ratification of the Panmunjom Declaration.

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

Three Korean candidates vying for U.S. Congressional seats

Three Koreans are campaigning at this U.S. midterm elections to become members of the House of Representatives. The "Kim Trio" - Young Kim (age 56, California’s 39th district, Republican), Andy Kim (age 36, New Jersey’s 3rd district, Democratic), and Pearl Kim (age 39, Pennsylvania’s 5th district, Republican) – are seeking to enter the Congress in 20 years since former Congressman Kim Chang-joon (Republican) in 1998.

Ki Sung-yueng eager to serve as Newcastle's key player

South Korean Newcastle United football player Ki Sung-yueng expressed his confidence in being selected as a key player when the midfielder had an interview with British Daily Mail on Monday. Even though the 29-year-old has not been given much chance to play during the 2018-2019 season, he seems eager to grab more chances to win the trust of Manager Rafael Benítez.

Samsung to launch B2B washers and dryers

Samsung Electronics launched washing machines and dryers for businesses and announced that it is making a foray into the B2B washing machine market on Tuesday. Washers and tumble dryers for businesses will be used in hotels, resorts, dormitories, hospitals, and military camps as well as coin laundry shops. The biggest markets for Samsung Electronics are the U.S. and Europe, where many people find it hard to put washers inside the house that are old or not big enough.

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

Moon, parties agree on flexible workweeks

President Moon Jae-in and political leaders agreed to be flexible about the new 52-hour workweek during a consultative meeting at the Blue House Monday. The agreement came as businesses struggle to adapt to the shorter work week, which brings the maximum number of hours down to 52 from the previous 68.

LKP rips into Im over border trip

Im Jong-seok, President Moon Jae-in’s chief of staff, was criticized by the opposition during a parliamentary audit of the Blue House on Tuesday for his recent trip to a military installation to monitor a landmine removal operation last month. Im’s trip on Oct. 17, which was accompanied by Defense Minister Jeong Kyeong-doo and Unification Minister Cho Myoung-gyon, faced backlash from members of the conservative Liberty Korea Party.

Korea Rotary plans for 100th anniversary at Busan seminar

Korea Rotary held its annual seminar at Haeundae Grand Hotel in Busan on Tuesday. The three-day seminar was attended by over 1,000 Rotary members from Korea and across the world. They shared up-to-date information on policies and programs that the community service organization has held this year and discussed the future of Korea Rotary.

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

Big Expectations for the Panel of the Government and Ruling and Opposition Parties, the First Step Toward Institutionalizing Cooperation

On November 5, a standing panel of the government and ruling and opposition parties held its first meeting. President Moon Jae-in and the floor leaders of five ruling and opposition parties took part in this panel. The meeting, which was held along with a luncheon, lasted for two hours and thirty minutes. The opposition party floor leaders said all they had to say, and the president listened carefully before giving a careful response.

Why Was South Korea Granted Temporary Waiver on Iran Oil Sanction? Close Ties with the U.S. and Status as a Partner in Resolving the North Korean Nuclear Issue

On November 5 (local time), the United States renewed sanctions on the import of Iranian crude oil and granted a waiver to eight countries including South Korea. The waiver is temporary and will last for up to 180 days. The eight countries temporary exempt from the sanction are South Korea, China, Japan, India, Turkey, Italy, Greece and Taiwan.

Conscientious Objectors No Longer Criminals

The Supreme Court ruled that the state should not punish conscientious objectors. Conscientious objectors refuse to serve in the military due to their religious, nonviolent, or pacifist beliefs. The latest ruling marked an end to the criminal punishment of conscientious objectors--more than 20,000 men since 1950.

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

CJ CGV shares down after cancellation of Vietnam subsidiary IPO

The Vietnam subsidiary of CJ CGV, a cinema franchise of South Korea's food and entertainment conglomerate CJ, canceled its planned initial public offering due to lower demand by institutional investors than its target price. CJ CGV Vietnam Holdings, the largest cinema operator in Vietnam, originally planned to raise up to 132 billion won ($118 million) by listing 5.7 million shares on the local stock exchange. The parent company said in a statement that demand was below its hope price.

Japan wants talks to see if S. Korea violated trade rules to rescue shipbuilder

Japan has called for bilateral talks to see if South Korea violated international trade rules by providing subsidies to its struggling shipbuilding industry, the South's foreign ministry said. Usually, such bilateral talks come before a country files a complaint with the World Trade Organization (WTO). South Korea maintained a lukewarm attitude over accusations that excessive state subsidies have been used to rescue Daewoo Shipbuilding & Marine Engineering, one of the country's three top shipbuilders.

Customs officials use blockchain technology to clear e-commerce goods

South Korean customs officials will introduce a new digital system using blockchain technology to reduce inefficient manual work on clearing goods purchased through direct buying at overseas online stores and provide quick information to customers.

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

KDI slashes Korea’s growth outlook for 2018, 2019 to 2.7%, 2.6%, each

State-run think tank Korea Development Institute (KDI) on Monday slashed its outlook on the nation’s economic growth for this year to 2.7 percent and for next year to 2.6 percent from its previous forecasts, citing faltering investment from the country’s lethargic manufacturing and construction sectors.

Investors must ready for recession, deleveraging in 2020 and beyond

Equity and bond experts of Wall Street warned of looming downturn with the possibility of a recession beginning in the United States from late 2020 to 2021, advising investors to turn to leveraged financing and alternatives. “The future will be very different from the recent past,” said Daniel Simkowitz, managing director and head of investment management at Morgan Stanley, speaking at the 8th Global Financal Leaders Forum in New York on Monday, hosted by South Korea’s Maekyung Media Group, Korea Society, and Korea Finance Society.

Jeju Air Q3 OP dn 6.4% on yr, to buy back 5 bn won worth shares

South Korea’s leading budget carrier Jeju Air Co. reported a 6.4 percent on-year drop in operating profit for the July-September period despite strong revenue due to increased fuel costs from higher oil prices. In a regulatory filing on Tuesday, Jeju Air posted an operating profit of 37.8 billion won ($33.6 million), down 6.4 percent from a year ago due to higher oil prices.

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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.cn kf@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 Herald www.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.com lithuania@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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http://www.koreapost.com/news/articleView.html?idxno=7463

Lee Kyung-sik  edt@koeapost.com

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