Headlines, January 23, 2019

The Korean daily media headlines and humor

Wednesday, January 23, 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.

Court to decide on arrest warrant for disgraced ex-Supreme Court chief

Gov't to offer financial support for overseas construction, plant orders

The government will provide financial support for overseas construction and plant orders to shore up exports that are showing signs of weakening, Finance Minister Hong Nam-ki said Wednesday. Global trade disputes and China's economic slowdown are casting a shadow on South Korea's export-reliant economy. Exports dropped 14.6 percent on-year in the first 20 days of January.

S. Korea, Japan set for foreign ministerial talks in Davos amid strained ties

The top diplomats of South Korea and Japan will hold bilateral talks in Switzerland on Wednesday, attending a global forum, Seoul's foreign ministry said. It remains unclear whether the meeting between Foreign Minister Kang Kyung-wha and her counterpart, Taro Kono, to be held on the sidelines of the World Economic Forum in Davos will be a turning point in the relations between the neighboring countries.

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

Pompeo Expects 'Good Marker' with N. Korea by End February

U.S. Secretary of State Mike Pompeo says that he expects to see a "good marker" on the path to achieving North Korea's denuclearization by the end of next month when the second Washington-Pyongyang summit will be held. Pompeo made the comment while addressing the World Economic Forum in Davos via satellite link on Tuesday.

S. Korea's Household Debt Grows at World's Second Fastest Pace

New data finds South Korea's household debt is increasing at an alarming rate in terms of its growth pace and amount. According to the global research and analysis firm Oxford Economics on Monday, South Korea’s ratio of household debt to gross domestic product(GDP) recently neared 100 percent.

UN Sanctions Committee Approves Humanitarian Aid to N. Korea

The United Nations Security Council's sanctions committee on North Korea has granted sanctions exemptions for the shipment of humanitarian supplies to the communist country. According to the sanctions committee's Web site on Wednesday, the committee approved last Friday requests for sanctions exemptions by four humanitarian groups including the United Nations Children's Fund(UNICEF) and the Eugene Bell Foundation.

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

Gov't to offer financial support for overseas construction, plant orders

U.N. grants sanctions exemptions for humanitarian aid to N. Korea

The United Nations Security Council (UNSC) has granted sanctions exemptions to four humanitarian organizations for relief activities in North Korea, its website showed Wednesday.A U.N. committee handling sanctions on North Korea approved the waiver requests from the organizations -- the U.N. Children's Fund (UNICEF), Eugene Bell Foundation, Christian Friends of Korea, and the Canadian NGO First Steps Health Society -- on Friday, according to its website.

Samsung's brand value ranks 5th in world

The brand value of Samsung Electronics Co. has dropped one notch from 2018 to rank fifth in an annual report on the world's most valuable brands, a British corporate valuation and strategy consultancy said Wednesday.The South Korean tech giant's brand value stands at US$91.3 billion in 2019, down 1.1 percent from a year earlier, but remains Asia's most valuable brand, Brand Finance said.

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

Economy grows 2.7% in 2018, marks slowest on-year rise in 6 years

Last year, the South Korean economy marked the slowest on-year growth pace in six years, amid shrinking corporate investment and slowing exports, central bank data showed Tuesday. Expanded government spending in the final quarter of the year was seen as having raised the annual figure to meet the government target level, while private sector remained sluggish, according to the bank. The country’s economy grew 2.7 percent on-year in 2018, down from 3.1 percent in the previous year, according to the advance estimate released by the Bank of Korea.

Court to decide on arrest warrant for disgraced ex-Supreme Court chief

Pompeo eyes 'good marker' with N. Korea next month

US Secretary of State Mike Pompeo said Tuesday that he expects to see a "good marker" on the path to achieving North Korea's denuclearization at the end of next month. The two sides are planning to hold a second summit late next month to discuss the next steps in implementing the accord reached by US President Donald Trump and North Korean leader Kim Jong-un last year.

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

Court to decide on arrest warrant for former Supreme Court chief

A Seoul court will hold a hearing Wednesday to decide whether to issue an arrest warrant for former Supreme Court Chief Justice Yang Sung-tae over a massive power abuse scandal involving the country's top court. Yang, 71, is due to appear at the Seoul Central District Court for a 10:30 a.m. hearing. Prosecutors filed for his arrest warrant last Friday. The former top court chief from 2011-2017 stands accused of using or seeking to use trials as political leverage to lobby the office of then-President Park Geun-hye to get her approval for the establishment of a separate court of appeals, his pet project.

'North Korea has advanced dispute resolution system'

North Korea has an advanced arbitration system even compared to developed countries, and foreign companies face an even playing field in dispute resolution, according to Michael Hay, the founder of North Korea's only foreign law firm Hay, Kalb & Associates. "From start to finish, (an arbitration case) could be done in six months… which is much faster than most other countries I have worked in," Hay said in an interview with The Korea Times at his office in Seoul, Monday.

Human rights watchdog to investigate Olympic star's rape scandal

The human rights watchdog will establish a special unit to investigate human rights violations and sexual assault in sports, planning for the largest-ever survey of athletes about their experiences of violence and other types of abuse. The plan to eradicate such malicious practices has come amid revelations of sexual assault involving Shim Suk-hee, one of the nation's top short track speed skating stars.

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

Illegal Immigrants Reach Record Numbers

The number of illegal immigrants in Korea hit a record last December with an estimated 355,126, up a whopping 41.5 percent on-year, according to the Justice Ministry on Monday. Numbers have been on a constant increase since 2010, when the tally was 168,515. Most illegal migrants overstay a work visa, though others come on a student or even tourist visa, and their numbers seem to be rising since the minimum wage increased drastically last year.

U.S.-N.Korea Talks End Early as Differences Remain

Talks in Sweden between U.S. and North Korean officials to iron out agenda and other details of a second summit between their two leaders ended earlier than expected on Monday. The officials met on Saturday and the talks were expected to continue for another day.

Japan No Longer Wants to Talk with Korea About Radar Spat

Japan's Defense Ministry on Monday released a recording that it claims is "definitive evidence" that a South Korean destroyer pointed a firing radar at a low-flying Japanese spy plane and announced it wants no further talks with Seoul over the matter. The Defense Ministry here voiced "deep regret" at the announcement.

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

Choe Son-hui and Stephen Biegun finish working-level talks in Stockholm

North Korean Vice Foreign Minister Choe Son-hui and US State Department Special Representative for North Korea Policy Stephen Biegun wrapped up four days of preparatory working-level talks in Stockholm on Jan. 21 for an upcoming second North Korea-US summit. Arriving on Jan. 19 at their hotel and international conference venue at the Hackholmmssund center by Lake Mälar northwest of Stockholm, the attendees remained on the premises the entire time as they conducted discussions until late at night on Jan. 21. Biegun was first to leave the venue that morning; a vehicle carrying Choe departed the Hackholmmsund center later on.

Smartphone industry predicted to be shaken up in 2019

The 2019 smartphone market appears poised for some of its biggest shakeups since the 2007 arrival of the iPhone. The year is bringing both changes in the shape of the devices and a new generation of mobile communications. In late February, Samsung Electronics is set to move first as the major smartphone companies each unveiled the innovative products they have been preparing over the past few years.

South Korean exports diminish as semiconductor industry struggles

The first month of 2019 saw a decrease in South Korea’s exports. The decrease can be attributed to a flagging semiconductor industry, which was at the forefront of the country’s exports, as well as diminished exports to China, South Korea’s largest trading partner. According to the Korea Customs Service, exports for the period between Jan. 1 to 20 diminished by 14.6% compared to the same period last year, and the downward slope is likely to continue next month. Imports to China, similarly, for the same period decrease by 22.5% compared to last year.

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

'U.S. may consider reducing troops in S. Korea,' pundits say

Amid growing conflicts between the United States and South Korea over the sharing of the defense cost, an increasing number of experts in Washington have floated the possibility of the Trump administration reducing U.S. Forces in Korea.

Kim Yong Chol holds secret talks with CIA’s deputy director

Kim Yong Chol, head of North Korea’s United Front Department who had a three-day trip to the United States last week, “met unannounced with the CIA’s deputy director Vaughn Bishop” in Washington on Friday (local time), Wall Street Journal (WSJ) reported Monday. It is speculated that the two countries’ spies held secret talks during Kim’s stay.

Vietnam reaches Asian Cup quarter-finals Sunday

Vietnam (100th in FIFA rankings) made it through to the quarter-finals of the AFC Asian Cup tournament in Dubai on Sunday, as they defeated Jordan (109th in FIFA rankings) in a penalty shootout. Though ranked lower than Vietnam, Jordan is a strong team that shocked the world by beating Australia (41st in FIFA rankings) 1-0 in the first B group match, and had recorded no loss (seven points, two wins and one draw) until the latest match. The team was especially good at defense, not letting their opponents score a single goal in three games. Meanwhile, Vietnam was in the third place of D group with three points (one win and two losses), and was able to squeak through the last 16 by virtue of having a superior disciplinary record to Lebanon

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

Track 1.5 talks in Sweden go well, end early

Denuclearization talks in Sweden by representatives from Pyongyang, Washington and Seoul went so well that they wrapped up a day earlier than planned, a South Korean diplomatic source said Monday. But none of the envoys or the source, who spoke on the condition of anonymity, elaborated on the progress made. The trilateral discussions were held during a so-called Track 1.5 international conference involving government officials and non-governmental experts who convened in Sweden to discuss denuclearization in roundtables. The conference was hosted by the Swedish Foreign Ministry.

56 years of amity between France, Germany marked

Diplomats and students alike had their eyes on a screen in a classroom of the Deutsche Schule Seoul International Tuesday morning, ready for the next question in an online quiz.“Quel jour est celebre le 22 janvier?” read the question on the screen. What day is celebrated on Jan. 22? On that day 56 years ago, French President Charles de Gaulle and German Chancellor Konrad Adenauer signed a treaty on Franco-German cooperation at the Elysee Palace in France, more commonly called the Elysee Treaty. The treaty was an effort by the two leaders to chart a new path of cooperation in bilateral relations rather than rivalry or war.

Q4 spending pushed growth for 2018 to 2.7%

The Korean economy grew 2.7 percent last year, meeting the central bank’s forecast and falling within the Finance Ministry’s 2.6 and 2.7 percent forecast. Last year’s growth was not only the lowest in six years, but it was artificially propped up by heavy government spending in the fourth quarter. According to the Bank of Korea (BOK) on Tuesday, Korea’s economic growth fell from 3.1 percent growth in 2017 to 2.7 percent, the lowest since the economy grew 2.3 percent in 2012.

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

Japan’s Log Files Will Tell the Truth About the ‘Japanese Pilot Plane Incident’

The Korean Ministry of National Defense (MND) urged Japan to release its P-1 pilot aircraft’s log files if the latter has any intention to resolve the ‘patrol plane incident.’ By doing so, the Ministry made it clear that the record in the log files is the real smoking gun to solve this case. At a regular press briefing on January 21, a reporter asked MND spokesperson Choi Hyun-soo if Japan’s next disclosure or the sound of Radar Warning Receiver (RWR) could serve as evidence. Choi replied, “We can only learn accurate information when the log files [of the Japanese patrol aircraft] are disclosed, through which we can confirm the date, bearings, and frequency characteristics. He once again demanded Tokyo to release the specific radar information. Court suspends execution of action against Samsung biosimilar arm

An administrative court ruled in favor of Samsung BioLogics, suspending the execution of punitive action by financial regulators against the biosimilar arms of South Korea's Samsung Group for alleged violation of accounting rules to inflate profits ahead of its listing.

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

Korean drug makers’ out-licensing deals triple to $4.65 bn in 2018

South Korean pharmaceutical companies stroke 11 out-licensing deals with overseas partners last year, which were worth 5.26 trillion won ($4.65 billion), up by 3.8 times from 2017, when eight such deals worth 1.4 trillion won were signed, according to data released from the Ministry of Health and Welfare on Tuesday.

Doosan Infracore to supply 36 excavators to Chinese mining firm

South Korea’s heavy construction equipment maker Doosan Infracore Co. signed a contract to supply total 36 excavators to China’s mining firm Neimenggu MengXin Group, the company announced Tuesday. MengXin that runs four mines with more than 100 large-sized excavators and 30 units of wheel loader has a coal mining capacity of 20 million tons per annum. It decided to change its supplier to Doosan Infracore after testing the firm’s products for two months and noticing their outstanding performance and fuel saving capability.

Naver decides not to take part in Korea’s third internet-only bank race

South Korea’s internet portal giant Naver Corp. has decided not to tap into the country’s internet-only bank business, casting a cloud over the state’s efforts to launch the country’s third internet-only bank. According to industry sources on Monday, Naver has notified financial authorities that it will not attend the information session on the new internet-only bank scheduled for Wednesday.

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Lee Kyung-sik edt@koreapost.co.kr