Headlines, February 12, 2019

The Korean daily media headlines and humor

Tuesday, February 12, 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.

Parties file petition against lawmakers over 1980 democratic uprising

FM Kang seeks talks with Pompeo in Poland this week: ministry

South Korean Foreign Minister Kang Kyung-wha is pushing for one-on-one talks with her American counterpart, Mike Pompeo, in Poland later this week, her ministry announced Tuesday, as Pyongyang and Washington plan for a second summit. Kang is scheduled to visit Warsaw for a U.S.-sponsored ministerial meeting on peace and security in the Middle East on Wednesday and Thursday. "Minister Kang is pushing for bilateral talks with (counterparts) from other participating countries, including U.S. Secretary of State Mike Pompeo," the ministry's spokesman Noh Kyu-duk said at a press briefing.

Parties file petition against lawmakers over 1980 democratic uprising

The ruling Democratic Party (DP) and three smaller parties asked a parliamentary panel Tuesday to punish three lawmakers from the main opposition party over their controversial remarks on a 1980 pro-democracy uprising. The four parties filed a petition against the lawmakers of the main opposition Liberty Korea Party (LKP) with the parliamentary special committee on ethics over their comments that allegedly disparaged the democracy movement in the southwestern city of Gwangju. The LKP faces a political storm after the lawmakers have come under fire for holding a public forum last week, inviting a far-right figure who has long claimed that North Korean troops were involved in the pro-democracy uprising.

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

Flurry of Diplomacy Surrounding Koreas, US, Vietnam Ahead of Trump-Kim Summit

There is a flurry of diplomacy surrounding the two Koreas, the U.S. and Vietnam two weeks ahead of the second U.S.-North Korea summit in Hanoi. The top diplomats of South Korea and the U.S. are set to finalize strategies for the upcoming summit in Europe this week, while the Vietnamese foreign minister is headed to Pyongyang to prepare for North Korean leader Kim Jong-un's state visit to Vietnam.

Choi You Sun reports. Vietnamese Foreign Minister Pham Binh Minh will be in Pyongyang from Tuesday to Thursday, where he is expected to fine-tune details of North Korean leader Kim Jong-un's state visit to Vietnam before he meets U.S. President Donald Trump in Hanoi later this month.

Ruling & Minor Parties Seek to Expel LKP Lawmakers over 1980 Uprising

The ruling party and three minor opposition parties are seeking to expel three lawmakers of the main opposition Liberty Korea Party(LKP) for making disparaging remarks about the 1980 Gwangju Uprising. However, the LKP's numbers in the assembly may make it difficult for the action to succeed. Kim Bum-soo has more. The ruling and minor opposition parties filed a petition with the parliamentary ethics committee Tuesday, seeking to expel main opposition lawmakers for their controversial remarks about the May 18th Uprising.

Supreme Court Chief to Consider Additional Disciplinary Action for Judges Linked to Power Abuse Scandal

The head of South Korea's Supreme Court has issued a public apology over the indictment of his predecessor for his involvement in a judicial power abuse scandal and vowed to take additional disciplinary action against judges linked to the scandal. Chief Justice Kim Myeong-su said on Tuesday that after the final outcome of the prosecution’s investigation, he will consider additional disciplinary measures including possible removal from trials, for judges found to be involved in the scandal.

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

Hyundai Heavy to sign formal deal to take over Daewoo Shipbuilding

Hyundai Heavy Industries Co., the world's largest shipyard by sales, is set to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering Co., the state-run Korea Development Bank said Tuesday. KDB said Samsung Heavy Industries Co., a major South Korean shipyard, has stated its intention not to join the race to take over Daewoo Shipbuilding. KDB said earlier it would contact Samsung Heavy to see if it is interested in Daewoo Shipbuilding.

KITA opens Dubai office to help S. Korean startups

The Korea International Trade Association (KITA) said Tuesday that it has set up an office in Dubai to help local startups advance into the Middle Eastern market. Under an agreement with Dubai Future Foundation, the Korea Office will be set up at Emirates Towers in one of the key cities of the United Arab Emirates (UAE). The office will provide working space for local startups and assist entrepreneurs in establishing their businesses in the burgeoning Middle Eastern market, KITA said.

KT's Q4 net turns to profit, operating earnings down

KT Corp., South Korea's major telecommunication company, said Tuesday it swung to a net profit in the fourth quarter, but its sales and operating profit fell due to its sluggish mobile business. KT logged 18.1 billion won (US$16 million) in net profit in the October-December period, compared with a net deficit of 123.5 billion won from a year ago, the firm said in a consolidated financial statement. Its operating profit tumbled 28.4 percent on-year to 95.8 billion won in the three-month period due to its tepid wireless business as the nation's No. 2 mobile carrier expanded the smartphone tariff discount rate in line with the government policy. It also offered discounts to mobile consumers after a fire at its facilities in western Seoul led to massive Internet and phone disruptions in November for days.

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

Liberty Korea Party seethes over Moon’s rejection of May 18 committee nominees

President Moon Jae-in’s decision to reject two nominees for a fact-finding commission to uncover the truth about the May 18 Democratization Movement of 1980 is fueling yet another clash with the main opposition Liberty Korea Party. On Monday, Moon asked the main opposition to recommend two new candidates for the committee in place of Kwon Tae-oh and Lee Dong-wook. Kwon is a former chief of the Combined Forces Command’s special operations team, and Lee is a former reporter for the Monthly Chosun magazine.

Samsung expected to pay $15b corporate tax this year

Samsung Electronics is expected to cough up some 16.8 trillion won ($15 billion) in corporate tax this year, its regulatory briefing showed. This is up 20.1 percent from the previous year, and 2.4 times the number from 2015. The record-high tax was attributable to its all-time high operating profit of 58.9 trillion won fueled by the memory chips sector boom last year, coupled with a revised tax code that raised the maximum tax rate from 22 percent to 25 percent for companies with over 300 billion won of taxable income. The final amount of corporate tax will be confirmed in April.

BMW to sponsor Coach Park

Vietnam national soccer team head coach Park Hang-seo (right) and Kwon Oh-soo, chairman of Deutsch Motors, BMW’s local dealer, pose for a photo next to a BMW X4 vehicle at a ceremony in Seoul on Tuesday. Coach Park received the vehicle as part of a sponsorship by BMW.

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

South Korean economy suffers slowdown: KDI

The South Korean economy showed a slowdown in production and demand amid declining exports, a state-run think tank said Tuesday.

South Korea's exports slipped 5.8 percent in January from a year earlier due mainly to weaker performances by chips and petrochemical goods.

In January, South Korea shipped $7.42 billion worth of semiconductors, down 23.3 percent from a year earlier, while outbound shipments of petrochemical goods fell 5.3 percent on-year. The Korea Development Institute said a slowing global economy weighed on South Korea's exports in January.

Hyundai Heavy to sign formal deal to take over Daewoo Shipbuilding

Hyundai Heavy Industries, the world's largest shipyard by sales, is set to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering, the state-run Korea Development Bank said Tuesday. KDB said Samsung Heavy Industries, a major South Korean shipyard, has stated its intention not to join the race to take over Daewoo Shipbuilding. KDB said earlier it would contact Samsung Heavy to see if it is interested in Daewoo Shipbuilding. Hyundai Heavy and KDB will sign a formal deal in early March, according to the state-run lender. Last month, the two signed a temporary deal.

Jeju Island refugees cook up taste of Yemen at 'Wardah'

Yemeni asylum seekers on Korea's Jeju Island recently began cooking their home-style dishes and serving diners at a new restaurant in the tourism hotspot's Jeju City. "Wardah" is a joint venture between the Yemenis and a local restaurateur-musician, according to UNHCR Korea. The eatery, named after Yemeni for "flower," has attracted a diverse range of visitors, including Koreans, tourists, foreign residents of the island and, of course, Yemeni migrants. Kebabs, falafel, agdah chicken, hummus and other Middle Eastern foods made and served by chefs and waiters from the war-torn Arabic nation are on the menu.

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

U.S.-N.Korea Summit On Despite Doubtful Outcome

U.S. and North Korean officials are set to hold more talks next week but hopes for concrete steps toward North Korea's denuclearization are fading. If they continue to focus more on security and protocol than the denuclearization issue, U.S. President Donald Trump and North Korean leader Kim Jong-un could end up meeting for another photo op, as they did last year in Singapore, but achieve little progress. The U.S. Special Representative for North Korea, Stephen Biegun, said the two sides did not so much negotiate as state their positions in talks last week. The North Koreans apparently focused on how Kim will get around Hanoi as well as security and protocol issues.

Busan Loses to Seoul for 2032 Olympic Bid

Seoul has beaten Busan as the candidate city for a combined Olympic bid by the two Koreas in the distant summer of 2032. The South Korean Sport and Olympic Committee on Monday voted in favor of Seoul with 34 votes against 15 for the southern port city. It will be the capital's second bid after hosting the 1988 Summer Olympics. South and North Korea marched together at the opening ceremony of the 2018 Winter Olympics in Pyeongchang and fielded a unified women's ice hockey team. That led to a declaration by President Moon Jae-in and North Korean leader Kim Jong-un in Pyongyang in September last year that the two Koreas will push to host the 2032 Summer Olympics together.

Over 80% of Korean Enjoy Cultural Outings

More than 80 percent of Koreans now enjoy some sort of cultural outings, largely thanks to a boost among people over 60 with leisure time and money to spend. The Ministry of Culture, Sports, and Tourism announced Monday that public attendance at cultural and arts events in 2018 was 81.5 percent, up 19.1 percent from 2003.

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

2nd North Korea-US summit to be held in Hanoi

Preparations are moving ahead for the second North Korea-US summit. Following an announcement that the summit will be held on Feb. 27-28, Hanoi, Vietnam, has been confirmed as the location of the summit. After a round of working-level negotiations held in Pyongyang from Feb. 6-8, the two sides agreed to meet again in Hanoi shortly before the summit to make final tweaks to the denuclearization program and corresponding measures. The Blue House indicated that it hopes North Korea and the US will reach a bold agreement, with an official remarking that Seoul doesn’t want the summit to result in a “small deal.”

North Korean munitions factories now used for economic development

If the North Korean munitions factories meant for weapon production were being used to make agricultural or construction machinery, could we believe it? It’s difficult to imagine. The first image that comes to mind when we think of North Korea is a belligerent military. The North Korea we have known to date is a state that prioritizes its military, a garrison state that espouses a Songun (“military first”) policy approach. North Korea’s military has grown abnormally large amid its longstanding antagonisms with the South and the US. Weapon production at its munitions factories has become sacred ground, an area that cannot be stopped under any circumstances. It has been impossible to imagine such a North Korea using its munitions factories to produce goods for the people’s economy rather than tanks or cannons. This would signify a fundamental change in what we know primarily as a military state.

S. Korea and US reportedly reach deal on defense cost sharing for US$1 bil for 1 year

It is believed that the South Korean government has negotiated a deal with the US government under which the former will contribute 1.04 trillion won (US$925.4 billion) per year towards the cost of stationing the United States Forces Korea (USFK). This was revealed when Blue House National Security Office Director Chung Eui-yong met with lawmakers, including Democratic Party of Korea floor leader Hong Young-pyo, on Feb. 7 to explain the outcome of the negotiations with the US. After meeting with the leadership of the Democratic Party, Chung spoke with the press and stated, “The ruling party will need to be consulted on some aspects of the negotiations on the sharing of defense costs, so I gave them an update on recent progress and discussed plans for cooperation with the National Assembly moving forward.”

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

China’s first SF blockbuster gets praised for realizing Xi Jinping’s vision

As the movie “The Wandering Earth,” China's first major science fiction blockbuster, has become tremendously popular at the box office, Chinese official news agencies scrambled to praise the movie, saying that it reflected Chinese President Xi Jinping’s vision for “community of common destiny,” Although the film is based on an ethnocentric view that a Chinese man saves the world, critics point out that China is even using SF movies as a tool for political propaganda. With the popularity of the film, there has been unprecedented media attention surrounding the film. Chinese state broadcaster China Central Television (CCTV) reported that the movie has become a “unique cultural phenomenon during the Chinese New Year holiday” and it is a “reflection of Chinese values and imagination.”

Trump: ‘N. Korea will become a different kind of Rocket’

“North Korea, under the leadership of Kim Jong Un, will become a great Economic Powerhouse," U.S. President Donald Trump mentioned again North Korea’s economic potential as he announced on Friday that the second Washington-Pyongyang summit will take place in Hanoi, Vietnam on February 27 and 28. After being debriefed about the outcome from Stephen Biegun, the U.S. State Department’s special presentative for North Korea who concluded three-day working-level talks in Pyongyang, the U.S. president is apparently seeking to boost optimism about his upcoming second summit with North Korean leader Kim Jong Un by suggesting the possibility for the North’s economic growth.

Korea’s export prices continue to slip

The average price of Korea’s exports has been falling significantly, compared with other major exporting countries over the past decade, a new World Trade Organization report suggests. According to the WTO’s monthly industrial export and import price indices released on Sunday, Korea’s export price index stood at 73.6 as of November last year. The WTO’s export price index showcases price changes of various countries’ exports from the baseline of 100 as of January 2005. A decline in Korea’s export price index means that the prices of "Made in Korea products" have slipped from the past.

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

U.S., Korea sign defense deal for less than $1B

South Korea will pay 1.03 trillion won ($916 million) for the upkeep of the U.S. forces in South Korea (USFK), 8.2 percent more than what it spent last year, the two countries agreed Sunday. It’s the first time Seoul has ever agreed to pay above the 1 trillion won mark as U.S. President Donald Trump urges allies across the world to pay more for their own defense. Seoul’s Foreign Affairs Ministry announced Sunday that it signed a “preliminary” deal with Washington that afternoon in central Seoul to decide how much South Korea will pay to host the 28,500 U.S. troops that make up the USFK. In a press release, the ministry explained that the 8.2-percent hike reflected South Korea’s own year-on-year defense budget increase.

No clarity on Biegun’s progress

U.S. Special Representative Stephen Biegun’s recent trip to Pyongyang remained under a veil of secrecy over the weekend as South Korean officials hope for the best in the lead up to the second U.S.-North Korea summit in Hanoi, Vietnam, on Feb. 27 and 28. Very little has been revealed about Biegun’s negotiations with North Korean officials, which wrapped up Friday after the nuclear envoy arrived in the pariah state last Wednesday, spending a total of 55 hours in the North. Biegun flew from Pyongyang to Seoul Friday evening and spent most of Saturday briefing South Korean officials about his trip before returning to the United States Sunday.

Mass movement that led to a modern Korea

It was 2 p.m. on Saturday, March 1, 1919, when a group of activists gathered in a restaurant in downtown Seoul, ready to proclaim Korea’s independence and demand liberation from Japan’s colonial rule. The group of independence fighters, who became known as the 33 leaders, signed the Proclamation of Korean Independence at the Taiwhagwan restaurant in Insa-dong, Jongno District, central Seoul, then sent a copy to the Japanese governor general. Around the same time, thousands of students gathered in nearby Pagoda Park. They read out the proclamation in full. Eventually, they took to the streets, distributing copies of the declaration, hailing, “Manse,” or “Long live!” Formerly used as a chant in honor of the king, Manse now came to mean “Long live an independent Korea!”

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

Once the Cause of Conflict, Can North Korea Now Become the Subject of Cooperation Between the U.S. and China?

China may change the game by joining the peace process on the Korean peninsula, an effort that had been centered on the two Koreas and the United States. The summit between the U.S. and China immediately following the second North Korea-U.S. summit in Vietnam on February 27-28 may be the decisive moment. Attention is on the possibility of change. Will the U.S. and China, which had clashed over North Korea, now cooperate in resolving the issues on the Korean peninsula? In his State of the Union address on February 5 (local time), U.S. President Donald Trump announced that a second summit with North Korea will be held in Vietnam on February 27-28. In a luncheon with the anchors of major broadcasting stations prior to the State of the Union address, President Trump said he would hold a summit with Chinese President Xi Jinping at the end of the month. The Hong Kong daily, the South China Morning Postreported that both summits would be held in Danang on February 27-28.

Agreement Reached with the U.S. on Defense Expenses, But We Need to Revise the Toxic “One-Year” Contract Period

Talks between South Korea and the United States on the Special Measures Agreement have practically come to an end. Lawmaker Lee Soo-hyuck, a Democratic Party of Korea secretary in the parliamentary Foreign Affairs and Unification Committee said in the party's policy meeting on February 7, "Negotiations with the U.S. on defense expenses are heading toward the end." He also conveyed, "We have decided to set only this year's budget and are in the process of setting the amount to less than 1.5 trillion won after reflecting the 8.2% increase in defense expenses." According to a foreign ministry official, both countries will sign a provisional agreement as early as this weekend. In the end, the two countries reached an agreement after South Korea accepted the U.S. demand for a one-year contract period and the U.S. retreated from its initial amount.

Second NK-US Summit to Be Held in Vietnam: Now to Reap Fruits of Denuclearization and Peace

The second summit between North Korean leader Kim Jong-un and U.S. President Donald Trump will be held in Vietnam on February 27-28. "As part of a bold new diplomacy, we continue our historic push for peace on the Korean peninsula," said President Trump in his State of the Union address on February 5 (local time). He then announced plans for the second summit with North Korea. At the same time, U.S. Special Representative for North Korea Stephen Biegun, who was in Seoul, flew to Pyongyang on a U.S. military plane this day and engaged in working-level negotiations on the agreement for the summit with his counterpart, Kim Hyok-chol, special representative for the United States at the North Korean State Affairs Commission.

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

Scrap trash found among plastic waste illegally exported to Philippines

Customs officials found scrap trash such as metal and other unrecyclable waste inside the containers which have been illegally exported to the Philippines and brought back due to protests by environmental activists. About 6,300 tons of selected plastic waste were shipped to Mindanao for recycling in July and October last year. The shipment sparked protests in the Southeast Asian country, with civic groups asking South Korea to bring back garbage containers. The South's environment ministry said that 51 containers with 1,200 tons of waste were returned through a proxy execution to the southwestern port city of Pyeongtaek on February 3.

S. Korea's military deploys remotely-delivered mines

To replace conventional anti-personnel mines, South Korea has deployed a recyclable home-made munition system that allows its operator to identify enemy targets and launch an attack from a remote location. The Defense Acquisition Program Administration (DAPA) said Friday that the remotely-delivered system developed by Hanwha consists of a detector for identification and a killer device. Ammunition and equipment are lightweight, easy to install and recycle, and can be reused repeatedly.

Hyundai Glovis opens business stronghold in Vladivostok

Hyundai Glovis, the logistics wing of South Korea's Hyundai auto group, has opened a new business stronghold in Russia's far eastern port of Vladivostok to step up cargo transportation using the Trans-Siberian Railway (TSR). It's the company's third business center in Russia. Hyundai Glovis operates such centers in Moscow and Saint Petersburg, an important port on the Baltic Sea. In August last year, Hyundai Glovis launched a regular TSR "block (unit)" train service once a week from Vladivostok to Saint Petersburg. Compared to wagonload trains, which comprise differing numbers of cars for various customers, a block train can save time and money because all cars carry the same commodity and are shipped from the same origin to the same destination, without being split up or stored en route.

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

NPS seeks to correct Namyang Dairy’s low-dividend policy

South Korea’s National Pension Service (NPS) will invoke stewardship guidance to correct the stingy dividend policy of Namyang Dairy Products Co., making it the second target in the fund’s commitment to stronger institutional responsibility to improve corporate governance and shareholder value in Korean Inc. The world’s third-largest pension fund with 635 trillion won ($568 billion) assets under management has taken issue with Namyang Dairy’s low dividends since 2016, refusing to approve the company’s financial statements for three years in a row.

CJ Hello stk jumps as LG Uplus poised to approve near $900mn acquisition

Shares of CJ Hello, Korea’s largest cable TV operator, flew high on Friday on growing prospects of the company going under the LG family and becoming a strong player in the media landscape where mobile video platforms increasingly replace the traditional channels in home entertainment. LG Uplus, which has vowed to complete the acquisition of CJ Hello in the first half, plans to convene a board meeting next week to finalize a near 1 trillion won ($890 million) deal to take over 53.92 percent stake in CJ Hello from CJ ENM.

Korea’s FX reserves rise to fresh high of $405.5 bn in Jan

South Korea’s foreign exchange reserves reached a record high of above $405.5 billion in January, helped by weakening in the U.S. dollar. According to data released by the Bank of Korea on Friday, the nation’s FX balance came to $405.51 billion as of the end of January, up $1.82 billion from the previous month. The central bank attributed the growth to the weakening greenback that led to an increase in the value of other currencies when converted into the dollar. The total value of foreign currency holdings in Korea has gained for three months in a row.

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