Headlines, March 28, 2019

The Korean daily media headlines and humor

Thursday, March 28, 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.

Pompeo: N. Korea yet to make 'big move' toward denuclearization

U.S. Secretary of State Mike Pompeo said on Mar. 27, 2019 that North Korea has yet to make the "big move" toward dismantling its nuclear weapons and ballistic missile programs. The top U.S. diplomat was asked at a House Foreign Affairs Committee hearing whether the North's weapons of mass destruction capabilities have increased or decreased since the first summit between President Donald Trump and North Korean leader Kim Jong-un in June.

S. Korea to create US$100 mln fund for infrastructure projects in Eurasia

A South Korean public company has been in talks with a local bank, an insurance firm and a brokerage firm to create a US$100 million fund for infrastructure projects in Eurasia, an official said on Mar. 27, 2019. The Korea Overseas Infrastructure & Urban Development Corp. (KIND) is trying to attract investment worth more than 50 billion won ($44 million) from the financial companies, said Kim Dong-hyun, deputy director handling investment issue at the Ministry of Land, Infrastructure and Transport. He declined to identify the financial firms, citing ongoing negotiations.

S. Korea, China to work together on environment-friendly energy

South Korea's industry ministry said on Mar. 28, 2019 an agreement has been reached with its Chinese counterpart to work together on reducing their dependency on coal-based power plants and seek more environmentally-friendly energy sources that can help reduce fine dust. The Ministry of Trade, Industry and Energy said Sung Yun-mo met high-ranking Chinese governmental officials, including Zhang Jianhua, the head of the National Energy Administration, and Zhang Mao from the State Administration for Market Regulation during his visit to Beijing.

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

Senior Public Officials Own Average of 1.2 Bln Won in Assets

Government data showed that the average wealth of high-ranking public officials amounted to about one-point-two billion won at the end of last year. According to annual data released by the Government Public Ethics Committee on Thursday, the assets owned by some one-thousand-880 public officials grew by 59 million won on average, while seventy-two percent of the officials saw their assets increase last year.

USFK Chief: N. Korea's Nuke Activity 'Inconsistent' with Denuclearization

The commander of U.S. forces in South Korea said that North Korea's nuclear and missile activities have been "inconsistent" with its pledge to denuclearize. General Robert Abrams gave the assessment during a hearing on Wednesday before the House Armed Services Committee. Abrams noted ongoing diplomatic engagement has led to a significant reduction in tensions with North Korea compared to the past.

S. Korea's Biz Sentiment Rebounds in March

South Korean firms' business sentiment improved for the first time in four months in March thanks to the effects of a newly released smartphone and cars. According to the Bank of Korea on Thursday, the business survey index(BSI) during March for all industries came to 73, up four points from the previous month. A reading below 100 means pessimists outnumber optimists. The index marked the first rise since November of last year.

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

N.K. leader holds photo session with low-ranking officers after military conference

North Korean leader Kim Jong-un had a photo session with participants in a conference of junior military officers, one day after attending the conference, state media reported Thursday, in what appears to be an effort to bolster their morale and tighten up overall discipline. Kim attended Tuesday's closing session of the two-day meeting of company leaders and political instructors and gave a speech there in his first public appearance since the nationwide parliamentary elections on March 10.

Imports of U.S. food hit new high in 2018

South Korean imports of U.S. food spiked nearly 20 percent on-year to a record high in 2018 due to lower tariffs and a jump in meat imports, a report said Thursday. South Korea imported US$9.37 billion worth of U.S. farm, livestock and food products last year, up 19.7 percent and marking a fresh all-time high, according to the report by the Korea Rural Economic Institute. In terms of the Korean currency, U.S. food imports were worth 10.6 trillion won, surpassing the 10 trillion-won mark for the first time.

SK Holdings to invest US$150 mln in U.S. midstream energy firm

SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Thursday that it has decided to invest US$150 million in a U.S. midstream energy company handling the gathering, transportation and compression of natural gas. The investment in Blue Racer Midstream, LLC is the latest in a series of aggressive investments by SK Holdings. In 2017, SK Holdings also invested $1 billion in another midstream energy firm, Eureka.

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

S. Korea, China discuss fine dust issue in prime ministerial talks

South Korea and China agreed to strengthen cooperation against fine dust during their prime ministerial talks here Wednesday. In a meeting with Chinese Premier Li Keqiang, South Korean Prime Minister Lee Nak-yon pointed out that, "Air pollution, including fine dust, is a pressing national task (to resolve) for both countries."

Modi declares India 'space superpower' as satellite downed by missile

India said Wednesday it destroyed a low-orbiting satellite in a missile test that proved the nation was among the world's most advanced space powers. In a rare address to the nation just weeks out from a national election, Prime Minister Narendra Modi said India had joined the United States, Russia and China in accomplishing the feat.

Ford closes 3 factories in Russia in broad overhaul

Ford is closing three factories in Russia as it pulls out of passenger vehicle manufacturing in the country, causing heavy job losses. Ford says it will stop making passenger cars in Russia by the end of June, closing vehicle assembly plants in St. Petersburg and Naberezhnye Chelny, as well as an engine plant in Yelabuga. Ford says ``significant employee separations are required.''

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

Blind optimism begets economic crisis

Just as history repeats itself, so do economic crises. All are caused by different triggers but they have one thing in common ― in every crisis, governments and policymakers lacked a sense of urgency and ignored external warnings. This was the case when the Asian Financial Crisis hit Korea in 1997-1998. At the time concerns about Korea's economy had prevailed, but Cheong Wa Dae and the government did not take these seriously. The current situation is far from crisis but the Moon Jae-in administration's "blind optimism" is unnerving many Koreans. Despite all the data pointing to a downturn, the government is showing a tendency to focus on the positive aspects of the situation, while turning a blind eye to outside warnings and potential pitfalls.

Ban on disposable plastic bags to take effect April 1

Use of disposable plastic bags will be banned at large retailers nationwide, starting next month, as part of the government's efforts to reduce waste and conserve the environment, the Ministry of Environment said Wednesday. The ministry said about 2,000 hypermarkets and approximately 11,000 big supermarkets with sales floor space of 165 square meters or more will be prohibited from offering disposable plastic bags to their clients from April 1.

KOTEC's tech rating system gains global recognition

The Korea Technology Finance Corp. (KOTEC), an agency fostering domestic small and medium-sized technology firms, is gaining global recognition for its technology rating system. The quasi-government agency, currently led by Chairman Jeong Yoon-mo, has provided assistance to more than 90 percent of the 572 domestic venture companies that generate more than 100 billion won ($88.38 million) in sales a year.

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

Japanese Elementary Textbooks Assert Claim to Dokdo

The Japanese Education Ministry on Tuesday approved 10 elementary social studies textbooks that assert the island country's flimsy colonial-era claim to Korea's Dokdo Islets. "Dokdo is inherent Japanese territory, which is illegally occupied by Korea," one claims in blunt contradiction of the facts. In reality Dokdo was Korean until the country was annexed by Japan in 1910 but is so small and remote that it was "forgotten" by the Americans after liberation and Korea had to take control of it under its own steam shortly after World War II.

S.Korea Could Lose Exemption from Iran Sanctions

South Korean and U.S. officials will sit down for talks in Washington on Thursday about renewing Seoul's exemption from U.S. sanctions against Iran. But Washington has already told Seoul that an extension is unlikely. Seoul, which does a lot of business with Iran, won a 180-day exemption in November of last year from the U.S.-led sanctions. But if the waiver is not extended by May 3, South Korea could face problems importing Iranian condensates, which account for around 50 percent of the substance it imports to refine oil. Deputy Foreign Minister Yun Kang-hyeon left for Washington on Tuesday to meet with Francis Fannon, an assistant secretary of state.

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

Trump responded positively to relaxing sanctions with “snapback clause” during Hanoi summit　
During the North Korea-US summit in Hanoi last month, US President Donald Trump reportedly had a positive perspective on relaxing sanctions on North Korea provided that there was a “snapback” clause that would reinstate sanctions if the North failed to implement its agreement. North Korean Vice Foreign Minister Choe Son-hui made this statement during a briefing to foreign diplomats in Pyongyang on Mar. 15, but her full remarks hadn’t been made public until now. According to the text of Choe’s remarks released on Mar. 25, she said, “When we made a practical proposal in the talks, President Trump adopted the flexible position that an agreement would be possible if a clause was added stating that the sanctions could be reinstated if North Korea resumed nuclear activities after the sanctions were lifted.”

Kang Kyung-wha and Pompeo to meet in Washington on Mar. 29
South Korean Minister of Foreign Affairs Kang Kyung-wha will be meeting with US Secretary of State Mike Pompeo in Washington, DC, on Mar. 29. It was announced on Mar. 26 that Kang and Pompeo will meet to discuss ideas for resuming North Korea-US negotiations, which have been at a standstill since the second North Korea-US summit. It will be the first high-level meeting between the two sides since speculation recently began to emerge over “difficulties” in bilateral relations. The meeting between Kang and Pompeo is being timed to coincide with the former’s attendance of the UN Peacekeeping Ministerial Conference in New York on Mar. 29.

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

‘A window of opportunity cannot be open indefinitely,’ say U.S. ambassador

“The scale of joint military drills has been adjusted for now but a window of opportunity (for North Korea to engage in dialogue) cannot be open indefinitely,” U.S. Ambassador to South Korea Harry Harris said on Wednesday. During a lecture hosted by the alumni association of Seoul National University’s Politics and Diplomacy Department, the U.S. ambassador was quoted as saying, “We cannot just be hopeful that diplomatic efforts will bear fruit. It is important that we prepare ourselves to respond immediately to all provocations by North Korea.” His remarks suggest that the U.S. and South Korea should brace for possible provocations by North Korea although U.S. President Donald Trump is showing his willingness to continue to talk to North Korea even after the collapse of the Hanoi summit by scaling down U.S.-ROK joint military drills.

SK Innovation to develop Lithium-Ion Battery Separators in Poland

SK Innovation announced Wednesday that it will build a plant that manufactures lithium-ion battery separator (LiBS), the main material for electric vehicles, in Silesia, Poland. This is the third LiBS manufacturing site following the Jeungpyeong plant in North Chungcheong Province, Korea and the Changzhou plant in Jiangsu Province, China, which is currently under construction.

Huijeongdang hall opens to public from next month

Changdeok Palace’s Huijeongdang hall will be unveiled to the public from next month. Changdeok is well-known as a palace that harmonizes traditional architecture and modern civilization. “We are starting a special program from April 3 for tours inside Huijeongdang, which had not been open to the public,” the Cultural Heritage Administration announced Wednesday.

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

We Denounce Japan for the Reinforced Distortion of History in Its Textbooks

A review of a dozen social studies textbooks for grades 3 to 6 released by the Ministry of Education, Culture, Sports, Science and Technology (MEXT) on March 26 revealed that the facts concerning the Dokdo Islands were distorted more than before. The description of the relationship between South Korea and Japan deteriorated. The textbooks stated less on the friendly exchanges between the two countries, while including vague statements on the responsibility for the mistakes and war of aggression by Japan. This raised concerns that the Shinzo Abe government, which continues to veer farther toward the right, could embed distrust and prejudice concerning South Korea in the minds of young students, as well as distort facts on territorial boundaries. We strongly denounce the Japanese textbooks.

Arrest Warrant for Kim Eun-kyung Dismissed: Efforts for Transparency in Appointing Heads of Public Agencies Must Continue

The arrest warrant for former Minister of Environment Kim Eun-kyung, currently being investigated by the Prosecution Service for an alleged blacklist in the environment ministry, was dismissed in the early hours of March 26. Prosecutors believed Kim played a leading role in encouraging executives of environment ministry-affiliated public agencies who were appointed by the Park Geun-hye government to resign when he served as minister and saw this as abuse of authority. However, the court judged the acts of Kim to be a "practice" based on special circumstances. Now that the court has expressed doubts on the illegality of the case, future investigations on Cheong Wa Dae's involvement are likely to face a rocky road ahead.

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

S. Korea’s Samsung Heavy Industries faces $250 mn lawsuit in U.S.

South Korea’s Samsung Heavy Industries Co. faces a lawsuit from Petrobras America Inc., U.S. subsidiary of Brazil’s state-run oil company Petroleo Brasileiro S.A., that claimed $250 million (283 billion won) in damages with a U.S. court. Samsung Heavy Industries said in a regulatory filing on Wednesday that Petrobras America filed a lawsuit against the Korean shipbuilder over excessive charter fees for a drillship built and delivered by Samsung Heavy Industries to U.S. shipowner Pride Global Ltd. in 2011. Petrobras America claimed $250 million in damages in the lawsuit that will be handled by the U.S. District Court of Harris County in Texas.

Lucky year helps little to aid birth with Korea’s birthrate at fresh low in Jan

The number of newborns in South Korea fell to a record monthly low of 30,300 in January, dashing hopes that the momentum of the Year of the Golden Pig that traditionally represents wealth, good fortune, and prosperity may aid birth in a country moving closer to demographic cliff. According to data released by Statistics Korea on Wednesday, 30,300 babies were born in January, down 6.2 percent from the same period a year ago. It is the lowest tally for the month since the agency began compiling related data in 1981.

KDB to demand tougher self-rescue plans from Asiana Airlines: chief

State lender Korea Development Bank (KDB), major creditor of Asiana Airlines Inc, will demand tougher terms to shape up when extending debt moratorium agreement with the full-service airliner that booked bigger losses for last year and lost confidence from investors after its statement was rejected by its outside auditor. Lee Dong-gull, chairman of KDB facing parliamentary questioning on public organizations, on Wednesday admitted that “market confidence in Asiana Airlines has been shaken.” The bank will enter a memorandum of understanding aimed to restore market confidence in the company, he said.

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Lee Kyung-sik edt@koreapost.com