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Headlines, January 22, 2019

The Korean daily media headlines and humor

Tuesday, January 22, 2019

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.

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.

S. Korean economy grows 2.7 pct in 2018: BOK

The South Korean economy grew at the slowest pace in six years in 2018 as shrinking corporate investment weighed heavily on Asia's fourth-largest economy, central bank data showed Tuesday.The nation's economy expanded 2.7 percent on-year in 2018, slowing down from 3.1 percent the previous year, according to the advance estimate by the Bank of Korea. It is the most sluggish on-year growth since 2012, when the country pulled off 2.3 percent. But it met the BOK's earlier growth forecast of 2.7 percent for 2018.

Officials hold meeting to discuss ways to improve people's lives

Senior officials from the presidential office, the government and the ruling party discussed ways to improve the livelihoods of ordinary people during their first joint meeting of the new year Tuesday. The meeting came as President Moon Jae-in pledged to make "tangible" outcomes with his embattled income-led growth policy this year amid an economic slowdown and sluggish job growth.

N. Korea, U.S. end working-level talks in Sweden

North Korea and the United States ended their working-level consultations in Sweden on Monday (local time) to break the impasse over denuclearization talks amid apparent preparations underway for another summit of their leaders. A vehicle carrying U.S. Special Representative Stephen Biegun was seen leaving the convention earlier in the day in a remote area located northwest of Stockholm, where the two sides have held three days of negotiations since Saturday.

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

IMF Cuts World Economic Outlook for 2019 to 3.5%

The International Monetary Fund(IMF) has lowered its global economic outlook for this year, citing heightened trade tensions and rising U.S. interest rates. In its World Economic Outlook report released on Monday, the IMF predicted the global economy will grow at three-point-five percent in 2019, down point-two percentage points from last October's forecast.

Seoul Announces Major Expansion of Gwanghwamun Square

Gwanghwamun Square in downtown Seoul will get a major makeover to become more favorable to pedestrians by the year 2021. Seoul City Mayor Park Won-soon said Monday that roads in front of the Sejong Center for the Performing Arts and the Seoul Government Complex will be incorporated into the square, expanding the area by three-point-seven times to 69-thousand square meters.

Half of all SMEs Find Financing Holiday Costs Challenging

One in two small and mid-sized enterprises(SMEs) in the nation is suffering a lack of funds ahead of the Lunar New Year holiday. According to a survey on 858 SMEs by the Korea Federation of SMEs, 50-point-eight percent said they are having difficulty securing necessary funding to pay for surging costs leading up to the major holiday. The figure is three percentage points higher than the result of a similar survey conducted ahead of last year’s Lunar New Year.

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

Kang says pursuit of newness has added diversity to her career

From a radio producer to a university professor, presidential interpreter and top U.N. humanitarian official, Foreign Minister Kang Kyung-wha's diverse career path has been driven by her constant search for "what is new. "Her journey for novelty has earned her a list of titles as "the first" in South Korea, including the country's first female top diplomat, but it wasn't always smooth sailing in a country where she says "cultural" gender discrimination lingers.

S. Korea, U.S. foreign ministers hold talks on N. Korea

The top diplomats of South Korea and the United States had phone talks Monday on North Korea and pending alliance issues, Seoul's foreign ministry said. Foreign Minister Kang Kyung-wha and Secretary of State Mike Pompeo discussed the results of the latest high-level talks between Pyongyang and Washington. Kim Yong-chol, a top North Korean envoy, visited Washington D.C. for negotiations with Pompeo last week. He met with President Donald Trump as well.

N. Korea's mining-sector output down in 2018 amid global sanctions: report

North Korea's output of mineral resources, such as coal and iron ore, dropped for the second straight year in 2018 due in part to a decline in exports to China amid global sanctions, a Seoul-based think tank report showed Tuesday. According to the report by the North Korea Resources Institute, North Korea's mineral material output is presumed to have declined 16.3 percent on-year in 2018, following a 6.2 percent drop a year earlier.

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

SK hynix donates W3b for vulnerable classes in Gyeonggi, North Chungcheong

SK hynix, the world’s second-largest memory chip provider, said Monday the company donated 3 billion won ($2.66 million) for welfare institutions in Gyeonggi and North Chungcheong provinces to support the vulnerable. The chipmaker’s employees and executives raised 1.5 billion won and the company offered another 1.5 billion won for a matching grant fund, dubbed “Happy Nanum Fund,” which is part of its corporate outreach. SK hynix has so far donated 19.5 billion won, benefiting around 32,000 elderly people and students from vulnerable classes.

Seoul mayor hoping to show Seoul Station, Han River to NK leader

Seoul Mayor Park Won-soon said Monday he wants to introduce Seoul Station and the Han River to North Korean leader Kim Jong-un if he visits Seoul for inter-Korean summit talks. "There are many things I'd like to introduce (to Kim) if I get to guide (him)," Park said during a New Year's meeting with foreign correspondents at the Press Center in Seoul. Park said he wants to show Kim Seoul Station as it will be the starting and final station of the railroad leading to Eurasia if severed inter-Korean railways are reconnected.

S. Korea voices "deep regrets" over Japan's announcement on radar dispute

South Korea's defense ministry expressed "deep regrets" Monday over Japan's disclosure of new evidence related to a military radar dispute and its decision to halt bilateral consultations. Tokyo's defense ministry announced its final view on the monthlong spat, saying that bilateral working-level dialogue may not lead to "verification of the truth." Further escalating tensions, it presented two audio files as fresh evidence to back up its claim that a South Korean warship locked fire-control radar on its maritime patrol aircraft in the overlapping exclusive economic zones of the two countries on Dec. 20.

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

South Korea is 'not bystander' in nuke talks: Moon

President Moon Jae-in said Monday that South Korea isn't a bystander in the ongoing talks aimed at dismantling North Korea's nuclear program. "We have to make [denuclearization] happen as we are desperate. This is the issue that can determine the destiny of the country and public," Moon said during a meeting with senior secretaries at Cheong Wa Dae, according to press pool reports. Moon said the results of last week's meeting between U.S. President Donald Trump and Kim Yong-chol, North Korean leader Kim Jong-un's special envoy, were satisfactory.

Only 10% of soon-to-be-college graduates find regular fulltime jobs

Only one in 10 senior university students awaiting commencement in February has landed a regular full-time job, a survey revealed on Monday, reaffirming the seriousness of youth unemployment. Recruiting website Job Korea announced this after surveying 1,112 soon-to-be-college graduates across the country. While another 10 percent said they had landed an intern or other temporary position, 79 percent said they were still unemployed.

Firms on alert over NPT shareholder activism

The move by the National Pension Service (NPS) to more actively exercise its shareholder rights has sounded the alarm at many listed companies, which fear the state-run pension fund could interfere with their management, corporate officials said Monday. They expressed concerns that the move may be an attempt to influence management at certain companies, calling for countermeasures to prevent the pension operator from "excessively engaging" in corporate issues.

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

Police to Crack Down on Illegal Foreign Masseuses

Police will conduct a monthlong crackdown on illegal foreign masseuses from February, the Justice Ministry said Sunday. "There is a need to take measures against rising numbers of illegal foreign workers," a ministry spokesman said. "Massage parlors have been singled out as workplaces that often lure foreigners into illegal employment and prostitution."

Vietnam Most Likely Venue for U.S.-N.Korea Summit

Da Nang, Vietnam is the most likely venue for the next U.S.-North Korea summit, which expected in late February. Both Vietnam and Thailand had been mooted, but Bangkok is a security nightmare, and in Vietnam scenic Da Nang presents less of a security challenge than the frantic capital Hanoi.

Korea Suffers Resurgence of Measles

An outbreak of measles has struck 26 people over the month since the first case was reported in Daegu on Dec. 17. Fifteen are babies and infants and the rest are medical staff and parents. Health authorities will maintain an emergency alert for the next six weeks. Daegu and North Gyeongsang Province saw the most infections with 17 confirmed cases, followed by Gyeonggi Province with nine, one in Siheung and eight in Ansan. All were infected with a measles strain from Southeast Asia, but none had been overseas recently. Authorities are trying to find how the virus came into the country in the first place.

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

Kim Yong-chol’s Washington, DC, a positive signal for 2nd NK-US summit

Kim Yong-chol’s three-day visit to Washington, DC, which was seen as a potential watershed for the prospects of a second North Korea-US summit, came to a close on Jan. 19. Drawing attention as the first direct trip to Washington by a North Korean official, the visit by Kim, Workers’ Party of Korea (WPK) vice chairman and United Front Department director, was seen as a bridge toward a second summit between North Korean leader Kim Jong-un and US President Donald Trump. It holds great significance in helping to finalize plans to hold the second summit in late February and leading directly to working-level talks in Sweden to discuss an agenda involving denuclearization and corresponding US measures.

Choe and Biegun meet for first time in Sweden

The two leaders of North Korea-US working-level discussions on denuclearization and normalization of relations, State Department Special Representative for North Korean Policy Stephen Biegun and North Korean Vice Foreign Minister Choe Son-hui, met face-to-face for the first time in Sweden on Jan. 19 shortly after the two sides agreed to hold a second summit around late February. Coming on the heels of high-level bilateral talks last week, the working-level meeting signal that the two sides are officially launching negotiations to work out the “substance” of the upcoming summit.

US CIT puts brakes on Trump’s tariffs on South Korean steel

The US Court of International Trade (CIT) has put the brakes on Trump’s anti-dumping measures for South Korean steel. The US Department of Commerce has imposed 76% anti-dumping tariff on oil country tubular goods from South Korea, which was expected to greatly deter Korean exports of steel pipes to the US. The US Department of Commerce attempted to apply the Particular Market Situation (PMS), to impose high tariffs on South Korean steel. The CIT, however, has ordered a reversal of the PMS determination and a recalculation of the Commerce Department’s anti-dumping duty rates.

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

President Trump mulls reduction of U.S. troops in South Korea

It appears that Washington will likely press head with a partial pull-out or a reduction of U.S. ground forces (infantry combat units) stationed in South Korea as a gambit to pressure Seoul over the defense cost sharing talks between the two countries. Since 2008, a total 28,500 soldiers are staying in South Korea. The size of U.S. troops stationed in Korea is the third largest that Washington currently deploys abroad, following the American forces in Japan and in Germany

Seoul gov’t reportedly issues gag order about Zero Pay

The Seoul Metropolitan Government has reportedly put a gag on the country’s major commercial banks about the result of implementing the “Zero Pay” system. Zero Pay is a new smartphone-based payment service that the Seoul city government formally launched on Jan. 1 to relieve small business owners of the burden of settlement costs. Participating vendors with less than 800 million won in annual sales are exempt from the transaction fee.

China posts a 28-year low economic growth rate

China posted a 6.6-percent economic growth rate last year (in terms of gross domestic product), the lowest in 28 years since 1990. Exports suffered from the trade war with the U.S., and the domestic demand remained in doldrums as well. The national statistics office of China announced Monday that the nation's GDP in 2018 hit 90.03 trillion yuan, up 6.6 percent from the previous year. The figure is higher than the target proposed by the Chinese government early last year, but this marks the lowest level of growth at 3.9 percent since 1990 when the country’s economy suffered a hard blow from the Tiananmen Square protests.

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

Pompeo stresses a reduction of North’s arsenal

U.S. Secretary of State Mike Pompeo said his administration wants to reduce North Korea’s capacity to build its nuclear and missile development programs and that discussions on that are an “important component” for making sure that both countries deliver on commitments made in Singapore last year. During an interview with the Sinclair Broadcast Group, transcripts of which were released by the State Department last Friday, Pompeo said that U.S. President Donald Trump has made enormous strides in working with the North to get their commitment to denuclearize and that now was the time “to execute” and “to implement.”

Power adjustments may be made for fine dust

To address fine-dust pollution, which has reached crisis concentrations in recent weeks, the government is drafting policies that could reduce the operation of coal-fired power plants and increase the use of liquefied natural gas (LNG) power plants. The Ministry of Trade, Industry and Energy on Monday said it is considering a change in the fine-dust trigger levels for powering down coal plants to 80 percent capacity. It is also considering powering down more plants in the event that pollution breaks the predetermined level.

Apple took unfair profits: FTC

Korea’s corporate watchdog claimed Apple Korea has bargaining power over local mobile carriers and that it has reaped unfair profits from them in a statement Monday. According to the Fair Trade Commission (FTC), experts called in by the antitrust body said Apple Korea exploited its market position to place part of its advertising costs on local telecommunications companies. The statement comes after exchanges between the FTC and the iPhone maker during a deliberation on the company’s position on Jan. 16. It was the second round of hearings since the first deliberation in December.

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

10th Anniversary of Yongsan Disaster, the Pain Lingers

On January 20, 2009, people protested government compensation measures for the redevelopment of Yongsan district 4 from the roof of Namildang, a building on Hangangno-2ga in Seoul. Six of them including five evictees died and 24 were injured when the police tried to suppress them by force. This was the Yongsan disaster. At the time, the court said, "The fire was caused by the Molotov cocktails thrown by the protestors, and the police suppression was legal," blaming the people who died in the fire after climbing up the watchtower to live for the crime and locking the eight people who survived up in prison. It has been exactly ten years since the Yongsan disaster, but the truth has yet to be identified and the redevelopment ways that brought about the deaths have yet to disappear

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AJU Business Daily (http://www.ajudaily.com)

Samsung Bioepis wins U.S. approval to sell cancer-treating biosimilar

Samsung Bioepis has won approval to sell Ontruzant, a cancer-treating biosimilar referencing Herceptin, in the United States. It was the company's first oncology biosimilar to receive approval from the U.S. Food and Drug Administration (FDA). Samsung Bioepsis is a joint venture with Samsung BioLogics, a biosimilar arm of South Korea's largest Samsung Group, and Biogen, U.S.-based pharmaceutical company Biogen. Bioepsis has been known for Imraldi, an adalimumab biosimilar referencing Humira.

LG Display secures client for crystal sound LCD (CSD) PC panels

Japan's Toshiba is expected to become the first overseas customer of crystal sound LCD (CSD) PC panels developed by LG Display, a leading flat panel maker in South Korea, in a deal that signals the expanded use of crystal sound technology in small products such as monitors, notebooks and smartphones.

Activist fund makes open proposal for Hanjin's corporate governance

An activist fund made an open proposal urging the parent group of Korean Air, South Korea's top airline and flag carrier, to reform its corporate governance and jettison unprofitable non-core assets through sincere consultations with outside experts.

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

KCGI demands Hanjin Group to reexamine investment in money-losing businesses

South Korean activist fund KCGI, the second largest shareholder of Hanjin KAL, the holding entity of Hanjin Group, has made an official demand for the country’s transportation conglomerate to set up a governance structure committee and to reexamine the group’s ongoing investment in money-losing businesses.

S. Korea’s mobile phone exports 16-yr low due to weak sales in China

South Korea’s exports of mobile phones plunged 23 percent year on year to a 16-year low last year on sluggish demand from China amid fiercer competition from local names. According to the Ministry of Science and ICT and the Institute of Information & Communications Technology Planning & Evaluation on Sunday, the country’s mobile phone exports totaled $14.61 billion last year, down 23.2 percent or $4.42 billion from the previous year.

Singapore’s ambassador to Korea shares secret to vibrant startup culture

Singapore has positioned itself as a living laboratory of new technologies by creating a business environment that enables startups to flourish and realize their full potential, said Yip Wei Kiat, Singapore’s ambassador to South Korea. “Singapore’s government officials rarely say no to startups, even if the new ideas presented by startups do not match the current regulatory system,” the ambassador said in a recent exclusive interview with Maeil Business Newspaper.

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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 Heraldwww.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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Korean-language print newspaper:
http://pdf.koreapost.co.kr/38/3801.pdf
http://pdf.koreapost.co.kr/38/3802.pdf
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http://www.koreapost.co.kr/pdf/list.php?category=&syear=2018&smonth=03&sday=26&hosu=40
English E-daily: http://www.koreapost.com/news/articleView.html?idxno=8339
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Lee Kyung-sik  edt@koreapost.co.kr

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