Headlines, March 27, 2019

The Korean daily media headlines and humor

Wednesday, March 27, 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.

U.S. vows to keep sanctions on N. Korea until denuclearization

The United States vowed on Mar. 26, 2019 to keep sanctions on North Korea short of the complete dismantlement of its nuclear weapons program. The State Department made the affirmation amid questions about President Donald Trump's commitment to sanctions after his withdrawal of additional punitive measures against North Korea last week.

Finance chief says SK hynix's new chip cluster to create 17,000 jobs

South Korea's finance minister said on Mar. 27, 2019 that SK hynix Inc.'s semiconductor cluster could create some 17,000 new jobs as he vowed to ensure construction will start by 2021. Hong Nam-ki outlined the government's resolve to support the massive project at a meeting aimed at revitalizing the economy.

S. Korea, U.S. tentatively agree to seek joint use of U.S.-controlled wartime command bunker: sources

South Korea and the United States have tentatively agreed to push for the joint use of a key U.S.-controlled wartime command bunker complex on the peninsula in a move likely to incur a new financial burden on Seoul, informed sources here said on Mar. 27, 2019. The allies have been discussing how to manage CP Tango, or Command Post Theater Air Naval Ground Operations, in Seongnam, just south of Seoul, during their talks on the Status of Forces Agreement (SOFA) governing the legal status of some 28,500 American troops here.

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

Spanish Court: Intruder at N. Korean Embassy in Spain Contacted FBI

Spain's High Court reportedly said that one of ten intruders who entered the North Korean Embassy in Madrid by force on February 22 contacted the U.S. Federal Bureau of Investigation(FBI) days afterwards. The High Court said in an official document released on Tuesday that one of the intruders, a Mexican citizen who is a U.S. resident, had contacted the FBI on February 27th in order to pass on information regarding the incident at the embassy.

S. Korea Beats Colombia 2-1 in Football Friendly

South Korea defeated Colombia 2-1 during a men's football friendly in Seoul. During the match on Tuesday at Seoul World Cup Stadium, forward Son Heung-min of Tottenham Hotspur in the English Premier League(EPL) scored a goal in the 16th minute and midfielder Lee Jae-sung added another in the second half, helping 38th-ranked South Korea beat No. 12 Colombia. Son, the EPL star and South Korean captain, scored his first goal under Portuguese manager Paulo Bento, who was appointed to the position in August of last year.

S. Korea's Pension Fund to Vote Against Korean Air Chief's Reappointment

The National Pension Service(NPS), the second-largest shareholder of Korean Air, has decided to vote against Korean Air Chairman Cho Yang-ho's reappointment as the director of the board. A committee overseeing how the NPS applies its stewardship code held a plenary meeting and made the decision on Tuesday, citing Cho's track record of hurting corporate value and the rights of shareholders. The NPS plans to oppose the three-year extension of Cho's term on the board at a shareholder meeting on Wednesday.

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

N.K. leader guides military meeting in first public activity after elections

North Korean leader Kim Jong-un has attended a conference of low-ranking military officers, the North's news agency said Wednesday, in his first public appearance since the elections of the country's rubber-stamp parliament about two weeks ago. Kim guided the fifth meeting of company leaders and political instructors of the Korean People's Army (KPA) which took place in Pyongyang on Monday and Tuesday, the Korean Central News Agency (KCNA) said.

National Assembly to hold confirmation hearings for 3 minister nominees

The National Assembly is set to hold confirmation hearings for President Moon Jae-in's picks for three ministers, including the nominee to lead the small and medium-sized enterprises (SMEs) and startups ministry, on Wednesday. SMEs Minister nominee Park Young-sun, Interior Minister nominee Chin Young and Science Minister nominee Cho Dong-ho will face questions at the hearings set for 10 a.m. over their qualifications for the appointed posts and ethical standards.

140 minor shareholders to vote against extension of Korean Air chief's board term

Some 140 minor shareholders of Korean Air Lines Co. have agreed to vote against the reappointment of Hanjin Group Chairman and Korean Air chief Cho Yang-ho as the director of the airline's board, a civic group said Wednesday. Extending his term has become a highly debated issue since the South Korean air carrier came under intense public scrutiny after its founding Cho family became embroiled in a slew of criminal probes over charges including assault, embezzlement, tax-dodging and smuggling of luxury goods.

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

NPS votes against Hanjin, SK chairmen's board reappointment

South Korea’s state pension operator on Tuesday decided to vote against Hanjin Group and SK Group’s chairmen continuing their terms, citing concerns of possible damage to corporate value and infringement of shareholder rights. The announcement came as a result of a meeting of the NPS’ fund management committee, which is the group’s highest decision-making body, on Tuesday afternoon. The meeting was a follow-up from the first of such meeting held Monday, as they were unable to reach a decision at the time.

GM to open Asia-Pacific regional office in S. Korea

General Motors Co. will open its Asia-Pacific regional headquarters in South Korea this week in a move to show its commitment to the local market, the carmaker said Tuesday. The Asia-Pacific regional headquarters will be responsible for managing production, sales, marketing and finances for GM operations in the Asia-Pacific region except China, a GM Korea spokesman said over the phone. The head office is scheduled to open in GM Korea's main Bupyeong plant in Incheon, just west of Seoul, on Thursday.

Belgian king becomes honorary Seoul citizen

King Philippe of Belgium was awarded honorary Seoul citizenship on Tuesday, becoming the 25th head of state to be granted the symbolic status by South Korea's capital city. During a four-day state visit to South Korea, the Belgian king held a meeting with Seoul Mayor Park Won-soon to discuss ways to cooperate on a smart city project. King Philippe toured a digital mayoral system that provides information about major situations, including fires, disasters and traffic conditions, in real time.

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

Korean Air chief unlikely to keep board seat

Chances are becoming slimmer for Hanjin Group Chairman Cho Yang-ho to keep his board seat at Korean Air as more and more shareholders are turning against him, according to industry analysts Tuesday. Cho and his family members have made the headlines over the past few years for allegedly breaking numerous laws and engaging in other dubious activities, including the misuse of company funds and mistreatment of subordinates.

Chief of Japan Pension Service office removed after hate speech against Koreans

The head of a Tokyo pension office has lost his job over hateful tweets against Koreans. Yukihisa Kasai, head of the Japan Pension Service's (JPS) office in Setagaya Ward, reportedly said on Twitter that "Korean residents should be purged from Japan and new entries refused" and called them "cowardly people with vassal-like spirits." The incident came only days after a high-ranking official at Japan's Ministry of Health, Labor and Welfare was dismissed as head of its wages division for allegedly assaulting a Korean Air employee at Gimpo International Airport in Seoul.

Gov't spending expected to exceed W500 tril. in 2020

The government's budget for 2020 is expected to exceed 500 trillion won ($442 billion) as it seeks to revive the economy by focusing on revitalizing small- and medium-sized enterprises, startups and low-income households. This would be the first time for the annual budget to surpass the 500 trillion won level. In a meeting in Seoul presided over by Economy and Finance Minister Hong Nam-ki, Tuesday, the Cabinet passed the 2020 budget plan with a focus on job creation through innovation and structural reforms especially in services.

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

Downwardly Mobile Millennials Depend More on Their Parents

Koreans in their 20s are increasingly finding their viciously competitive years of education hardly worth the insanely long hours they put into it in the face of the desperate reality that awaits them at the end. The Chosun Ilbo asked 60 university students or jobseekers over last two months, and the message was clear: "Hard work alone doesn't guarantee success any more." Parents who went through the financial crisis in 1997 raised their children determined to give them the best possible start in life, and the luxuries of yesteryear, like English-speaking kindergartens or study abroad, became commonplace among the middle classes.

Downtown Stores Thrive Thanks to Older Customers

Only shops in Seoul's financial district of Yeouido and glitzy Gangnam are still thriving even as the lights are going out in other commercial areas of Seoul. The reason is an increase in spending by older consumers despite the financial crunch that is hitting particularly young customers. Real estate consultancy Avison Young analyzed Shinhan Card spending data in the fourth quarter of last year to arrive at the latest findings. Areas around Gangnam Station, Myeong-dong, Hongik University and Yeouido are the five major commercial districts in Seoul, and spending in both Myeong-dong and Hongik University area plunged.

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

S. Korean military still awaiting N. Korean approval for Apr. 1 joint exhumation of war POW/MIA
After some of the North Korean staffers who had been withdrawn from the inter-Korean joint liaison office in Kaesong on Mar. 22 returned to their posts following a three-day absence while emphasizing “the implementation of inter-Korean agreements,” the next question is whether North Korea will agree to military talks proposed by the South Korean army and whether a joint project to recover the remains of soldiers who died during the Korean War will take place a week from now as agreed by the two sides.

ourt grants approval of forced labor victims’ request to confiscate Mitsubishi assets in Korea
Survivors from the Women’s Volunteer Labour Corps during the Japanese occupation were granted a court request to seize Mitsubishi Heavy Industries assets in South Korea. On Mar. 25, the group Citizen Forum for Halmuni announced that the Daejeon District Court had granted approval of a request to “confiscate two trademark rights and six patents belonging to Mitsubishi Heavy Industries” on Mar. 22. The result was an effective freezing of Mitsubishi’s corresponding assets.

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

N. Korea detected activities related to solid-fuel missiles

South Korea and the U.S. military authorities are intensively monitoring North Korea after detecting communication signals that show activities related to solid-fuel missiles designed to attack the U.S. and the South in Shinheung, South Hamgyong province. The North previously showed missile provocation activities in Dongchang-li and Sanum-dong. According to multiple government sources, military authorities of the two countries detected occasional transmission of communication signals related to missile activities in Shinheung from Monday to Tuesday and upgraded their surveillance of North Korea.

Developers create the world’s first genderless voice for AI

“I am not male or female. I think I float somewhere in between,” British singer Sam Smith said on March 15. The 26-year-old singer received the support of sexual minorities by stating “when I saw the words ‘non-binary,’ which is used to describe those who identify as neither exclusively male nor female, I thought that was me.” Those who identify themselves as non-binary like Sam Smith prefer to use the gender-neutral pronounces “they” and “them.”

Mueller’s report summary draws Republicans’ counterattacks

A four-page summary of special counsel Robert Mueller’s report on U.S. President Donald Trump’s ties with Russia has drawn a sigh of relief from Republicans but created headaches for Democrats. As Mueller’s investigation into the so-called Russia scandal and Trump’s alleged obstruction of justice did not conclude that the Trump campaign conspired or coordinated with Russia during the 2016 U.S. presidential election, Trump and Republicans have started staging counterattacks against the Democratic Party.

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

S. Korea picks 5 core sectors, 100 key technologies to groom in 5 years

The South Korean government has set future mobility, customized health care, smart living, green energy, and smart manufacturing as the country’s five core sectors to groom during the era of aging society, urbanization and the fourth industrial revolution. The Ministry of Trade, Industry and Energy said on Tuesday that it finalized the country’s industry technology innovation plan and shared a blueprint that spans over a period of five years.

Korean retailers advised to streamline offline business, turn more digital

South Korean retailers should venture more into the online market and rationalize brick-and-mortar outlets to stay competitive amid changing business landscape, Korea Investors Service Inc. said on Tuesday. In a media briefing on Tuesday, Korea Investors Service, the local unit of U.S. credit rating agency Moody’s Investors Service, said that large retailers, particularly big discount store chains, reported weak earnings for last year. Combined sales of Korea’s three retail giants E-Mart, Homeplus, and Lotte Mart fell 1.3 percent in 2018 from a year ago with operating margin averaging at 1.1 percentage point.

Naver opens virtual entertainment membership service Fanship

Korean internet giant Naver Corp. has introduced “Fanship” designed to connect stars and their fans directly through live video streaming service V Live, the company said Tuesday. Fanship is a digital membership card that is accessed through smartphone. Upon installing the membership app, a special icon appears on the screen for accessing the virtual home of Fanship subscriber’s favorite entertainer.

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Lee Kyung-sik edt@koreapost.com