Headlines, November 8, 2018

Thursday, November 8, 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.

Trump says summit with N. Korea to happen early next year

U.S. President Donald Trump said on Nov. 7, 2018 that he expects to meet North Korean leader Kim Jong-un "sometime early next year."Trump's remarks came hours after the U.S. announced the postponement of Thursday's scheduled meeting between Secretary of State Mike Pompeo and North Korean officials in New York.

In interim findings, Seoul determines BMW fires were caused by EGR valves

The main cause of engine fires in BMW cars turned out to be faulty exhaust gas recirculation (EGR) valves, not EGR coolers and pipes as claimed by the German carmaker, a local investigation's interim findings showed on Nov. 7, 2018.The public-private investigation team led by the Korea Transportation Safety Authority (KOTSA) tested BMW cars under three scenarios replicating actual driving conditions.

Kakao Q3 operating income falls 35 pct

Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said on Nov. 8, 2018 its third-quarter operating profit fell 35 percent from a year earlier, due to increased costs from its new businesses.

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

Two Koreas Agree to Exchange Information on Infectious Diseases

South and North Korea have agreed to launch a pilot project before the end of this year to exchange information on contagious diseases. They reached the agreement during talks on health issues held at the joint liaison office in the North Korean border city of Gaeseong on Wednesday.

US Congressional Research Body Doubtful of N. Korea's Will to Denuclearize

The U.S. Congressional Research Service(CRS) remains doubtful regarding North Korea’s sincerity in fulfilling its promise to denuclearize. According to the Voice of America, the U.S. Congress body recently issued a report on the North’s foreign affairs and assessed progress made on diplomacy with the regime, including over its nuclear program.

Moon to Meet Leaders of Russia, US, Australia, China During Regional Forums

President Moon Jae-in will meet with the leaders of Russia, the U.S., Australia and China on the sidelines of annual regional forums to be held in Singapore and Papua New Guinea next week.The presidential office said Wednesday that Moon will discuss ways to enhance friendly ties and cooperate on regional and international issues with Russian President Vladimir Putin and Australian Prime Minister Scott Morrison.

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

Gen. Abrams takes office as new U.S. Forces Korea chief

Army Gen. Robert B. Abrams took office as the new commander of U.S. Forces Korea (USFK) on Thursday, amid diplomatic efforts by Seoul and Washington to build a lasting peace on the divided peninsula. The change-of-command ceremony took place at Camp Humphreys, a sprawling U.S. military complex in Pyeongtaek, 70 kilometers south of Seoul, at 10 a.m. It was attended by top South Korean and U.S. officials, including Seoul's Defense Minister Jeong Kyeong-doo.

U.S. sanctions on Iran trouble refiners over condensate imports

South Korean refiners and petrochemical companies are struggling to diversify imports of ultralight crude following the U.S. reimposition of sanctions on Iran over its nuclear program, industry sources said Thursday. Washington on Monday reinstated all Iranian sanctions removed under the 2016 nuclear deal but allowed South Korea and seven other countries to continue to buy Iranian oil over the next six months. South Korea is the third-largest buyer of Iranian oil.

G90 teaser image unveiled ahead of launch this month

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Thursday unveiled the teaser image of the G90 flagship sedan under the independent brand Genesis ahead of its domestic launch later this month. The G90 sedan is a face-lifted model of the EQ900. The EQ900 was launched in 2015 as successor to Hyundai's Equus sedan.

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

Emergency reduction measures in effect as ultrafine dust level spikes

The Seoul Metropolitan Government lifted an ultrafine dust warning Wednesday afternoon, 24 hours after it was issued, while the ultrafine dust advisory remained in effect for the country’s western regions, including the North and South Chungcheong and Jeolla provinces. Following alarming levels of ultrafine dust in Korea, the Environment Ministry and metropolitan governments issued emergency fine dust reduction measures on Wednesday.

No plan to meet NK officials visiting next month: Unification Ministry

The Unification Ministry said Wednesday it has no plans to meet with two senior North Korean officials visiting South Korea next week. A seven-member delegation led by Ri Jong-hyok, vice chairman of the Korean Asia-Pacific Peace Committee, and Kim Song-hye, director of the United Front Department’s tactical office, is expected to attend an international forum on peace and prosperity in Goyang, Gyeonggi Province, from Nov. 14-17.

Tech firm CEO detained over workplace abuse allegations

Yang Jin-ho, the CEO of a cloud storage service company, was taken into police custody Wednesday over multiple workplace harassment and abuse allegations by his employees. A police probe was launched after video footage went viral online, appearing to show Yang abusing his employees. In one video, the CEO of WeDisk and robot developer K-Technology is seen killing chickens with a crossbow and aggressively ordering an employee to do the same.

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

'Countries need to work in sync to guard peace'

Former Indonesian President Megawati Soekarnoputri expressed an optimistic view of issues surrounding the two Koreas at the KOR-ASIA Forum 2018, co-hosted by The Korea Times and its sister paper, the Hankook Ilbo, Wednesday."Many are doubtful that there will be peace on the Korean Peninsula," she said. "However, I am certain that peace on the Korean Peninsula will occur. My conviction is due to my encounter with the people of both countries."

Asian nations vow to support peace in Korea

Former and current leaders of Asian nations pledged their support for a process to bring peace to the Korean Peninsula and expressed hopes for greater economic cooperation at The KOR-ASIA Forum held in Seoul, Wednesday. Punsalmaa Ochirbat, former president of Mongolia, said at the forum held at Seoul Dragon City Hotel: "We Mongolians are grateful for the successful completion of a number of important meetings between the Koreas to make peace on the peninsula."

ASEAN, India key to Korea's New Southern Policy

ASEAN nations and India are the crux of President Moon Jae-in's New Southern Policy that seeks peace and prosperity in the region beyond the Korean Peninsula and Northeast Asia, according to the head of a presidential committee, Wednesday.Kim Hyun-chul, who chairs the Presidential Committee on the New Southern Policy, said during the KOR-ASIA Forum 2018 that the government will actively increase trade volume and investments in Southeast Asia, calling it a "massive economic bloc" and "blue ocean."

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

U.S. Denies Plans to Reduce Military Presence in S.Korea

The U.S. on Wednesday denied that it plans to reduce its military presence in South Korea after remarks from its top military officer sent alarm bells ringing.Asked about earlier remarks by U.S. Joint Chiefs of Staff chairman Gen. Joseph Dunford that Washington will have to make "some changes to the military posture" if negotiations with North Korea make progress, JCS spokesman Patrick Ryder told Voice of America that it is not considering scaling down its defense posture in South Korea.

2 Koreas to Exchange Information on Contagious Diseases

The two Koreas have agreed to exchange information on contagious diseases on a trial basis, starting at the end of this year. Seoul and Pyongyang have also agreed to cooperate on diagnosing and preventing epidemics like tuberculosis and malaria and to proceed with various health cooperation projects.

Kim Jong-un Fears List of Nuclear Assets Could Spark U.S. Attack

North Korean leader Kim Jong-un told President Moon Jae-in during a summit that submitting an inventory of his country's nuclear arsenal and facilities to the U.S. could spark an attack, national security adviser Chung Eui-yong said Tuesday. "Before trust is built up between the U.S. and North Korea, demanding that we give the U.S. a list of our fissile materials, nuclear weapons and delivery systems is the same as telling us to submit a list of targets for attacks," he quoted Kim as saying.

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

Japanese foreign minister’s faulty understanding of forced labor ruling

After the South Korean Supreme Court’s recent ruling that Koreans conscripted into labor during Japan’s colonial occupation should be compensated, Japanese Foreign Minister Taro Kono said that the South Korean government ought to compensate the workers itself.

KDI predicts S. Korea’s growth rate unlikely to rise above 3%

The Korea Development Institute (KDI), a government-funded think tank, has warned that the South Korean economy’s growth rate is unlikely to rise above 3% unless the country’s industrial competitiveness is strengthened. The gradual weakening of the growth trend is due, the KDI believes, to sluggish growth in the manufacturing industry, slowing improvement in the service industry and a slump in the construction industry. The KDI recommended smoothly implementing the expansionary budget drafted for next year while maintaining the current level of easing in monetary policy.

Chung Eui-yong mentions possibility of working-level end-of-war declaration

“We are deliberating with related countries to make an end-of-war declaration possible within the year,” Blue House National Security Office Director Chung Eui-yong said on Nov. 6. Since Chung also said that the door is still open to having working-level officials bring the Korean War to a formal end, the next issue is whether the war will actually be declared over before the end of 2018.

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

N. Korea-U.S. high-level talks abruptly called off

Talks between U.S. Secretary of State Mike Pompeo and his North Korean counterpart, Kim Yong Chol, in New York was called off just a day before the meeting scheduled for Wednesday (local time). The cancellation of the high-level meeting, which was expected to make a breakthrough in the denuclearization negotiations, has fanned concerns that the deadlock could be prolonged.

Seoul perplexed over delay in U.S.-N. Korea high-level talks

South Korea’s presidential office Cheong Wa Dae was apparently disappointed Wednesday at the news of a sudden delay in the U.S.-North Korea high-level talks scheduled for Thursday, after publicly expressing its expectations over the negotiations. Cheong Wa Dae said it was informed in advance of the delay but remained silent about what caused the postponement.

Samsung unveils blueprint for its first foldable smartphone

Samsung Electronics unveiled the “One UI,” its next-generation mobile user experience that will be applied to its foldable smartphones, at this year’s Samsung Developer Conference (SDC) held at Moscone West in San Francisco on Wednesday (local time).

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

Pompeo’s meeting with Kim Yong-chol canceled abruptly

A day after announcing that U.S. Secretary of State Mike Pompeo and a top North Korean official would hold talks in New York this week, the U.S. Department of State abruptly said Wednesday the meeting has been postponed to an unspecified later date. The high-level North-U.S. talks had been set to take place in New York Thursday, a follow-up to Pompeo’s fourth visit to Pyongyang last month.

350 billion won earmarked for North’s rails, roads

Seoul plans to spend more than 350 billion won ($312.5 million) on modernizing North Korean roads and railways next year using South Korean taxpayers’ money, a local opposition lawmaker exclusively told the JoongAng Ilbo Wednesday. The Moon Jae-in administration has never disclosed its planned budget for the cross-border initiative, and conservative lawmakers have refused to ratify the April 27 Panmunjom Declaration until the government comes clean with its spending plans.

Businesses divided over sharing of profits plan

The local business community is torn over a government plan to force large corporations, including conglomerates, to share profits with subcontractors and suppliers. Conglomerates oppose it, claiming it will go against principles of a market economy, while smaller companies that may benefit are fully on board.

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

Defense Security Command's Investigation of Sewol-Related Civilians Confirmed: Will the People Still Defend the Command?

On November 6, a special investigation team of the Ministry of National Defense announced the results of an investigation on the alleged monitoring of Sewol-related civilians by the former Defense Security Command. According to the investigation, the command first began investigating civilians to turn the tide after the situation around the June 4 local elections in 2014 turned against the Park Geun-hye government due to the Sewol tragedy.

What about Conscientious Objection to Reserve Training?

On November 1, the Supreme Court ruled that the state could not criminally punish conscientious objectors for refusing to serve in the military based on their religious, nonviolent or pacifist beliefs, but the court never mentioned conscientious objectors who refused to take part in reserve duty, which has emerged as another controversial topic.

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.

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

SK Telecom and Samsung develop technology for 5G communication equipment

For a fifth-generation (5G) mobile ecosystem that requires new chips, modems, antennas, hardware and infrastructure, South Korea's top mobile carrier SK Telecom has developed core technology for a 5G device to process data transmission between base stations and internet networks.

Seoul partners with banks and fintech firms for zero-fee payment platform

The city of Seoul has forged an alliance with banks and financial technology (fintech) firms to take away the burden of transaction fees for small business owners and provide a convenient mobile payment system using existing platforms. Seoul introduced the idea of "Zero Pay", a zero-fee direct transaction system that uses existing mobile payment smartphone apps to transfer money from a buyer's account to a seller's to reduce transaction fees.

S. Korea's military to replace analog radio transceivers with digital equipment

In an effort to phase out old military analog radio transceivers, South Korea will produce home-made digital equipment capable of transmitting voice and data together.LIG Nex1, a defense contractor, said Wednesday that the Defense Acquisition Program Administration (DAPA), a state body controlled by the defense ministry, endorsed a 1.6 trillion won ($1.4 billion) project to introduce tactical multi-band and multi-role radio (TMMR) transceivers.

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

Korea finds BMW fires caused by faulty EGR valves, not bypass

The main cause of recent fires in BMW cars turned out to be in faulty exhaust gas recirculation (EGR) valves, not the bypass as claimed by the German automaker claimed in August, investigation showed Wednesday. According to interim investigation results announced by Korea Transportation Safety Authority on Wednesday, the cause of fires in BMW cars laid with faulty EGR valves, not EGR bypass claimed by BMW.

Korea’s housing market sentiment sharply sours in November

South Korea’s housing market players have turned decisively pessimistic about future business conditions amid hard-line government housing policy and murky redevelopment prospects. According to a survey on 500 members of the Korea Housing Association and Korea Housing Builders Association conducted by the Korea Housing Institute, the Housing Business Survey Index for November stood at 47.4, sharply retreating from 69.0 in the previous month and first dip below 50 since January last year.

Diesel vehicles banned as masked Koreans endure heavy fine dust smog

The South Korean government took emergency actions as the alarming fine dust levels have prompted the government to issue fine dust advisory on Wednesday. As the alternate driving day policy took effect, only government officials having cars with odd-numbered registration plates have been allowed to drive from 6 a.m. to 9 p.m. on Wednesday. The government also temporarily shut down 450 parking lots of public organizations.

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