UPDATE : 2018.12.14 FRI 10:38
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Headlines, December 5, 2018

Wednesday, December 5, 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.

Kenya celebrates Jamhuri Day to celebrate her Independence on Dec. 12

Kenya attained independence in 1963 and Dec. 12, 2018 marks the 55th anniversary as an independent state. This date, referred to as Jamhuri Day, is the symbol of rebirth for our nation and an opportunity for each and every Kenyan to renew their commitment to the ethos that constitute the fabric of our identity as a people encapsulated in our rallying call: Peace, Love and Unity.

First-ever ‘Carpets-Pearls of Azerbaijan’ exhibition hosted by the Embassy of Azerbaijan in Seoul

On Nov. 26, 2018 first ever Azerbaijan Carpet Exhibition named “Carpets-Pearls of Azerbaijan” organized by the Embassy of the Republic of Azerbaijan to the Republic of Korea and Korea Foundation with the support of “Azerkhalcha” OJSC launched in Seoul. Exhibition is held at the KF Gallery and will be open till December 19th. 18 precious carpets of 9 carpet weaving schools of Azerbaijan will be displayed at the exhibition.

GM exec says R&D separation is essential to GM Korea's viability

General Motors Co. Vice President Barry Engle recently flew to South Korea to underscore the necessity of a separate R&D corporation for the viability of its loss-making South Korean unit, GM Korea said Wednesday. GM Korea didn't provide details of the GM executive's schedule in Korea but confirmed he had a meeting with Lee Dong-gull, chairman of the state-run Korea Development Bank (KDB), the second-biggest shareholder of the carmaker after GM.

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

Another Victim of Japan's Wartime Sexual Slavery Dies

Another elderly victim of Japan's wartime sexual slavery has died.The House of Sharing, a shelter for former comfort women in Gwangju, Gyeonggi Province said that Kim Sun-ok died on Wednesday from deteriorating health. She was 97. Kim was reportedly forced to work as a sex slave for Japanese soldiers at a military brothel in Heilongjiang Province in China in 1940.

Pres. Moon Orders Boosting Discipline Within Public Service

President Moon Jae-in has ordered his senior secretary for civil affairs to boost efforts to firmly establish discipline within the public service. Presidential Spokesman Kim Eui-kyeom said Moon issued the order to Cho Kuk on Tuesday shortly after returning home from a three-nation tour. He instructed Cho to swiftly come up with ways to improve the operation of a team of special inspectors under Cho's office charged with inspecting senior public officials.

Parties to Continue Discussions on Budget Bill

Three rival parties will continue discussions on Wednesday to reach an agreement on the budget bill and the schedule for a plenary session for its passage, after the legal deadline for the passage passed on Sunday. The floor leaders of the ruling Democratic Party and the opposition Liberty Korea Party and the Bareunmirae Party will hold a meeting at the National Assembly.

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

Online shopping hits record high in October

Total online transactions reached 10.04 trillion won (US$9.03 billion) in October, up 36 percent, or 2.65 trillion won, from a year earlier, according to the data compiled by Statistics Korea. The reading marked the highest amount since January 2001 when the statistics office started collecting data on online shopping.

U.S.-China trade war poses biggest threat to S. Korean financial system: poll

According to the poll of 86 market watchers, financial officials, researchers and investors conducted by the Bank of Korea (BOK), 81 percent said intensifying trade disputes are the biggest problem that could harm stability in the financial system. South Korea is one of the most vulnerable countries in the world, as it depends largely on exports and overseas markets to generate growth.

Shilla Duty Free gets 2-year extension of operations at Singapore's Changi Airport

Changi Airport Group said earlier it would extend its duty-free liquor and beauty concessions, awarded to Shilla Travel Retail Pte. Ltd, for a two-year period starting from 2020, after the expiration of its current six-year concession. In 2014, Hotel Shilla opened its first duty-free outlet at Changi Airport. Since then, Hotel Shilla has been operating duty-free shops at four terminals at the Singapore airport. Shilla Duty Free also operates duty free shops at Hong Kong International Airport on Chek Lap Kok Island and Incheon International Airport.

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

Hyundai Motor goes all-out in US marketing on signs of recovery

Encouraged by signs of improving sales in the US, South Korean automaker Hyundai is going trendy in marketing its next vehicles in the global market. According to Hyundai Motor and Kia Motors, they sold a combined 102,600 units in the US in November, up 1.1 percent on-year. Hyundai Motor’s sales last month in the US market came to 57,082 units, up 3 percent on-year, while Kia Motors saw a 1.8 percent increase at 45,101 units.

1 dead, 22 injured after hot water pipe bursts near Baekseok Station in Ilsan

An underground pipe carrying hot water burst Tuesday evening north of Seoul, killing one and injuring 22 others. The incident near Baekseok Subway Station in Ilsan -- a district within Goyang, Gyeonggi Province -- left nearly 3,000 homes without heat or hot water, fire authorities said. A 69-year-old man was found dead in the back seat of a car after apparently being trapped there. “The victim seems to have suffered burns from the hot water that rushed into the car right after the accident, but the exact cause of death requires further investigation,” a police source said.

Half of SNU international students say they don’t understand lectures in Korean

About half of international students attending Seoul National University do not adequately understand lectures conducted in Korean, according to a survey of 432 international students conducted by SNU’s diversity council showed. Asked about understanding lectures conducted in Korean, 47.2 percent of the respondents said they couldn’t follow the class at all, or they often can’t fully understand the lecturer.

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

South Korea mulls tax on cryptocurrencies and ICOs, says financial minister nominee

The South Korean government is planning to tax cryptocurrencies and initial coin offerings (ICOs), says finance minister nominee Hong Nam-ki. In a written answer submitted to the National Assembly Sunday for his confirmation hearing, Hong said the taxation plan would be finalized in accordance with the creation and progress of the taxation infrastructure and the trend on international discussions.

Korea to issue more internet banking licenses to boost competition

The financial authorities said they will issue internet banking licenses this month. The decision came after an expert group's report claiming the nation's banking industry lacks competition. According to a report released by the Financial Services Commission's (FSC) expert group, which is made up of 11 financial specialists, there are not enough competitions in Korea's banking sector.

Big data emerging as new norm in financial industry

Big data and related technologies are emerging as the centerpiece of the financial industry according to Financial Supervisory Service (FSS) Governor Yoon Suk-heun. Not only Yoon, but also guest speakers stressed the importance of adopting such new technologies to accommodate the rapidly changing financial environment at a recent anniversary ceremony for the finance agency.

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

Cheong Wa Dae Spruces up Reception Hall

Cheong Wa Dae is refurbishing the Sangchunjae reception hall in anticipation of a visit from North Korean leader Kim Jong-un. A Cheong Wa Dae official said, "We are renovating Sangchunjae and dividing it into a reception area and tea room, while changing the dining area to a traditional format." Cheong Wa Dae started sprucing up Sangchunjae, which means "Spring House," after President Moon Jae-in invited Kim to Seoul in September.

Gyeonggi Governor's Wife Grilled by Prosecutors

Gyeonggi Province Governor Lee Jae-myung's wife was questioned by prosecutors on Tuesday on suspicion of using a Twitter handle to spread fake news about Moon Jae-in and other political rivals of her husband in the race for the presidential candidacy since 2013.

U.K. to Let Koreans Use ePassport Gates in Immigration

Koreans visiting the U.K. will enjoy much quicker immigration procedures from next summer because they can use ePassport gates. Travelers passing through ePassport gates do not have to stand at the counter while an official checks their paperwork. Instead, sensors and face-recognition cameras compare the physical traits of travelers with the biometric information in their passports.

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

Moon vows to achieve permanent peace and denuclearization to ethnic Koreans in New Zealand

Meeting with ethnic Koreans in New Zealand on Dec. 3 during a visit as a guest of the state, South Korean President Moon Jae-in pledged to “achieve complete denuclearization and permanent peace on the Korean Peninsula.” Speaking with Korean-New Zealanders at the Cordis hotel in Auckland, Moon declared, “If the dramatic change toward peace on the Korean Peninsula succeeded, it will be a great outcome not only for us South Koreans but for overseas Koreans as well.”

Evidence suggests Supreme Court aided Japanese firms implicated in war crimes

Evidence has emerged to suggest the Supreme Court under previous Chief Justice Yang Sung-tae examined legal documents from South Korea’s biggest law firm Kim & Chang when it represented a Japanese company implicated in war crimes in a trial related to forced labor during the Japanese occupation. After reviewing an opinion from the Ministry of Foreign Affairs expressing concerns about damaging effects on South Korea-Japan relations, the court also advised the company facing a suit demanding damages to “submit documents beneficial for its case” and offered revisions.

S. Korean government lays out plan for inter-Korean “coexistence” and “shared prosperity”

Moon administration details four strategies for advancing peace and reunification, The South Korean government has named “peaceful coexistence” and “shared prosperity” as the two chief visions of its plan for advancing inter-Korean relations through 2022. Reunification was postponed into a long-term goal. With “advancement in both inter-Korean relations and the North Korean nuclear issue” listed as one of four strategies, the administration also drew a clear line from the strategy approach requiring denuclearization ahead of advancements in inter-Korean relations.

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

Samsung Electronics extends Olympic sponsorship to 2028

Samsung Electronics has extended its partnership with the International Olympic Committee (IOC) by eight years to 2028. South Korea’s tech giant said Tuesday that Koh Dong-jin, President and CEO of the IT& Mobile Communications Division at Samsung Electronics, and Tsunekazu Takeda, IOC Marketing Commission Chair, signed a sponsorship contract to extend their partnership through to 2028.

SoftBank chairman’s investment reflects trust in Coupang CEO

“SoftBank Chairman Masayoshi Son’s investment reflects his trust in Coupang CEO Kim Beom-seok," is what Coupang Executive Vice President Navid Veiseh (45) had to say solemnly when this reporter met him at Coupang headquarters in Seoul’s Songpa district on Friday. Veiseh made the remarks when he was asked “There are rumors that with the additional investment Chairman Son will take over managerial control over the long term, and CEO Kim will resign.”

Hyundai hosts celebratory event to promote new flagship SUV

Hyundai Motor Co. has launched a global cultural marketing campaign ahead of an imminent unveiling of its new flagship sports utility vehicle, Palisade. The South Korean automaker said Wednesday that it held the “Style Nite” event at West Hollywood, offering the fashion and lifestyle that the Palisade pursues.

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

Hong hints of moderation in future wage increases

Finance Minister nominee Hong Nam-ki acknowledged the impact of minimum wage increases on the job market and the overall economy, adding that he advocated a change in the way the adjustments are decided. The nominee was clear that he will continue to push the Moon Jae-in government’s income-led growth economic policies, which are often blamed for recent economic troubles, including job losses for lower-income households.

Tourism blasts off in Goheung County

GOHEUNG COUNTY, South Jeolla - Just a decade ago, Goheung County was an obscure, aging coastal area in the southernmost part of South Jeolla. It was known for having clear, blue waters and producing Korea’s best citrons, but not much else. Now, home to Korea’s only space center, Goheung is emerging as a tourist hotspot that welcomes millions of visitors every year.

Koreans living longer, women No. 3 in OECD

Korean women are ranked third in the OECD for average life expectancy. According to Statistics Korea 2017 figures, Koreans are now expected to live on average 82.7 years. That’s 3.5 more years than 10 years ago and 0.3 years longer than in 2016. For men, the life expectancy of those born last year is estimated to be 79.7 years. This is 0.4 years longer compared to those born in 2016.

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

Warrant Requested for Two Supreme Court Justices Involved in the Abuse of Court Authority: First in the History of Our Constitution

The Prosecution Service requested an arrest warrant for the former justices of the Supreme Court, Park Byoung-dae (61, left photo) and Ko Young-han (63, right), who served as the director of the National Court Administration under former Chief Justice of the Supreme Court Yang Seung-tae (70). This is the first time in the 70-year history of our court that prosecutors have attempted to detain a former Supreme Court justice.

Red Lights Going up in the Moon Jae-in Government

A red light has switched on in the state administration of the Moon Jae-in government. There are some signs that generally indicate the weakening power of the government--the weakening of Cheong Wa Dae's control over public office; the moral hazard of civil servants; the power struggle in the ruling groups; and a divide among the supporters. Usually, these factors come together to bring down the president's approval rating. Recently, such factors have emerged simultaneously.

Stronger Measures Against Domestic Violence, Let's Put Them into Practice

On November 27, the government released measures to prevent domestic violence, which strengthened punishment and victim protection of domestic violence. The latest measures give the police more room to arrest the perpetrator of domestic violence on the scene. Also, if an offender violates a restraining order, he can be sentenced to imprisonment. Last month, a divorced man who had physically abused his ex-wife during their entire marriage killed her. We welcome the swift government measures at a time when the seriousness of domestic violence has emerged as a social issue.

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

S. Korea regards U.S.-China trade war as biggest threat to financial system: Yonhap

Escalating trade tensions between the United States and China are the biggest risk that South Korea's financial system is now facing, a central bank survey showed Wednesday. According to the poll of 86 market watchers, financial officials, researchers and investors conducted by the Bank of Korea (BOK), 81 percent said intensifying trade disputes are the biggest problem that could harm stability in the financial system.

LS Industrial creates energy solution company in U.S. through acquisition

LS Industrial Systems (LSIS), an electric power and industrial equipment producer, vowed to become a global player through preemptive investment after it acquired a division of Parker-Hannifin, a leading U.S. energy storage solution company.

Asiana confident of easing liquidity concerns through active asset sales

Asiana Airlines, South Korea's second-largest flag carrier, claimed to have resolved liquidity concerns through its improved financial structure and active asset sales with its debt staying at a manageable level. Asiana said in a statement Tuesday that it has reduced total borrowings to 3.35 trillion won ($3.01 billion) as of November from 4.05 trillion won at the end of 2017.

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

S. Korea ranks 5th in overseas spending among OECD countries

South Koreans showed the fifth biggest overseas spending among 32 developed economies, which explains the nation’s ever-worsening travel deficit account.

According to a study released by Korea Economic Research Institute (KERI) on Tuesday, Korea ranked fifth out of the 32 countries in the Organization for Economic Cooperation and Development (OECD) in overseas consumption. As of 2016, the country posted -1.9 percent in net overseas consumption - foreigners’ spending in Korea minus Koreans’ spending overseas - as a percentage of total household consumption.

Seoul should help promote output, not subsidize farmers: OECD

South Korea should change the direction of its agricultural policy from short-term financial aid to long-term investment for sustainable output growth, an international organization recommended. The Ministry of Agriculture, Food and Rural Affairs announced Tuesday that it will release a report from the Organization for Economic Cooperation and Development (OECD), recommending guidelines for Korean agricultural policies on Wednesday.

S. Korea’s Q3 GDP growth unchanged at 0.6%

South Korea’s economy grew at a snail’s pace of 0.6 percent in the third quarter against the previous three-month period, suggesting it may underperform targeted 2.7 percent annualized growth for this year. According to revised data released by the Bank of Korea on Tuesday, the country’s real gross domestic product (GDP) totaled 400.2 trillion won ($360 billion) in the third quarter ended September, up 0.6 percent on the quarter, unchanged from the preliminary figure released in October.

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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=8046

Lee Kyung-sik  edt@koreapost.com

<저작권자 © 코리아포스트, 무단 전재 및 재배포 금지>

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