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Headlines, April 16, 2019

The Korean daily media headlines and humor

Tuesday, April 16, 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.

President Moon says he will meet with N. Korean leader anywhere

President Moon Jae-in said Monday that he hopes to meet again with North Korean leader Kim Jong-un as early as possible, welcoming Kim's latest message on denuclearization talks. Moon stressed that the venue and format of his fourth summit with Kim does not matter, as he seeks "concrete and substantive discussions" on ways to produce "fruits" to outdo those of two U.S.-North Korea summit talks.

Hyundai Heavy sells stake in oil affiliate to Saudi Aramco for US$1.2 bln

Hyundai Heavy Industries Holdings Co., the holding company of South Korea's largest shipbuilding conglomerate, said Monday it has signed a US$1.2 billion deal to sell a stake in its oil-refining unit to Saudi Aramco as it is set to take over a smaller local rival. In a regulatory filing, Hyundai Heavy Industries Holdings said it has signed the contract to sell 41.66 million shares -- a 17 percent stake -- in Hyundai Oilbank Co. to the world's largest crude exporter to improve its financial structure.

Asiana Airlines up for sale amid liquidity woes

Cash-strapped Kumho Asiana Group said Monday that it will put its flagship Asiana Airlines Inc. up for sale to secure a fresh loan from creditor banks, sending shares in the carrier sharply higher. The group's decision to sell Asiana Airlines came after creditors, led by the state-run Korea Development Bank (KDB), and the Financial Services Commission (FSC) rejected its earlier self-rescue plan last week, demanding more concrete and bolder action.

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

Moon to Launch 3-Nation Tour to Central Asia on Tues.

President Moon Jae-in will fly to Central Asia for his first visit to the region since taking office. According to the presidential office, on Tuesday the president will board a flight at Seoul Air Base in Seongnam, Gyeonggi Province bound for Turkmenistan, the first leg of his three nation tour. He will also visit Uzbekistan and Kazakhstan during the eight-day state visit.

Trump Welcomes More Talks with Kim

U.S. President Donald Trump has reiterated his positive views on having further talks with North Korea on the regime’s denuclearization. Speaking at business roundtable in Burnsville, Minnesota on Monday, Trump said he has a good relationship with North Korean leader Kim Jong-un.

Moon to Make Another Request for Confirmation Hearing Reports of Constitutional Court Nominees

President Moon will again request the National Assembly to send confirmation hearing reports for Constitutional Court justice nominees Lee Mi-sun and Moon Hyung-bae. According to presidential officials, Moon will make another request on Tuesday after parliament failed to adopt the reports by Monday’s deadline.

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

N.K. leader could hold first summit with Putin next week: sources

North Korean leader Kim Jong-un may hold his first-ever summit with Russian President Vladimir Putin next week when Putin travels to the Far East on his way to an international conference in China, sources said Monday. "Russian President Vladimir Putin is expected to make a trip to the Far East region around April 24," a source told Yonhap News Agency. "Chances are fairly high that a summit between Russia and North Korea could take place around that time."

S. Korea purchases devices needed for video reunions of war-torn families

South Korea has completed the purchase of equipment to be sent to North Korea for video reunions of families separated by the 1950-53 Korean War, the unification ministry said Monday. South Korea is pushing to hold video reunions for war-torn families and recently started renovation of 13 video conference centers nationwide. It earlier secured sanctions exemptions from the U.N. Security Council to send equipment needed for the operation to its reunion center in Pyongyang.

Pompeo says he prays sanctions on N. Korea will one day be lifted

U.S. Secretary of State Mike Pompeo said Monday that he prays for the day sanctions can be lifted from North Korea after the complete and verified dismantlement of its nuclear weapons program.

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

Moon calls for 4th inter-Korean summit

President Moon Jae-in on Monday called for another inter-Korean summit, saying that Pyongyang and Washington have expressed willingness to continue dialogue and that Seoul needs to lay the foundation for bigger results. “The Korean Peninsula peace process has entered the phase of building on the North-US Hanoi summit to prepare for practical results for the next stage,” Moon said at a weekly meeting with senior aides.

Trump says N. Korea talks are moving along 'perfectly'

US President Donald Trump said Monday that nuclear disarmament talks with North Korea are moving along "just perfectly" even after the breakdown of his February summit with North Korean leader Kim Jong-un. Trump also said that his relationship with Kim remains good and that sanctions continue to be enforced against the regime.

Desperate Kumho Asiana decides to sell flagship carrier

Under a mountain of debt and pressure from creditors, Kumho Asiana Group’s board of directors decided Monday to sell its core unit Asiana Airlines, a day after the creditors rejected its latest self-rescue proposal amid a snowballing liquidity crisis.

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

Five years on, truth of Sewol disaster still shrouded in mystery

The 2014 Sewol ferry disaster left a painful and lasting imprint on Korean society. Ahead of its fifth anniversary on April 16, ceremonies have taken place since the weekend to mourn its 304 victims and to keep pushing for better safety and disaster response systems. At Gwanghwamun Square last Saturday, thousands gathered with victims' families to remember the tragedy and demand further investigation into the causes of the sinking. Similar memorial gatherings took place in other cities, including Mokpo where the rusted ferry stands near its port after being salvaged.

Redenomination: boon or bane?

Currency reform, more specifically "won redenomination," has again become a political hot potato in Korea. Ever since the country joined the OECD, redenomination, which aims to change the face value of won banknotes and coins from 1,000 to 1, has become a major issue whenever a new administration takes office.

'Kim Jong-un exposed weakness in recent speech'

North Korean leader Kim Jong-un made a strategic mistake by indirectly acknowledging in his recent speech his regime is vulnerable to tough economic sanctions, Thae Yong-ho, a former North Korean diplomat who defected to the South, said.

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

Kim Jong-un Takes Swipes at U.S., S.Korea

North Korean leader Kim Jong-un on Friday took a swipe at the American and South Korean presidents after they mooted a third North Korea-U.S. summit. Speaking at a session of the rubber-stamp Supreme People's Assembly on Friday, Kim said the U.S. must "stop its current way of calculation, and come to us with a new calculation," according to the official Korean Central News Agency.

Kumho Agrees to Sell Asiana Airlines

Cash-strapped Kumho Asiana has agreed to sell its flagship airline subsidiary to raise badly needed capital. Main creditor Korea Development Bank on Sunday said it held marathon negotiations with Kumho Asiana over the weekend and pledged a bailout in return for the conglomerate handing over its stake in Asiana Airlines.

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

Kim Jong-un sets timeline for third summit with US

North Korean leader Kim Jong-un said he’s willing to meet US President Donald Trump a third time if the US proposes such a summit. Kim signaled his willingness to negotiate “on the condition that [the US] has the right attitude and seeks a solution that we can share,” Kim said during a speech on the second day of the 1st Meeting of the 14th Supreme People’s Assembly, on Apr. 12.

South Korea’s income distribution still among bottom in OECD

Statistics Korea released new income distribution indicators based on the findings from a household financial welfare survey last year – with numbers indicating that South Korea remains ranked toward the bottom among OECD members.

Kim Jong-un calls for S. Korea to become more independent from US

North Korean leader Kim Jong-un said, “Let me make clear once more that I’m resolutely determined to work with the government of South Korea in writing a new chapter in the history of our people, a chapter of peace and mutual prosperity.”

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

Hyundai Motor to invest in local startup CODE42

Hyundai Motor has announced a strategic partnership with a local startup founded by a former Chief Technology Officer (CTO) of the country’s portal giant Naver. Having acquired a stake in overseas mobility service providers including “Grab,” Hyundai Motor is apparently stepping up its efforts to enhance its presence in the mobility systems.

President Moon calls for another inter-Korean summit

South Korean President Moon Jae-in officially proposed Monday to hold another summit talk between the two Koreas. “I hope that whenever North Korea is ready the two Koreas will sit together to have concrete and practical discussion on ways to make progress, which goes beyond the two summits between the United States and North Korea,” the president said.

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

Cho Kuk to Run in Busan? Possibility Emerges

Voices calling for Cho Kuk (54, pictured), Cheong Wa Dae senior secretary for civil affairs, to run in next year's parliamentary elections are growing within the ruling party. They argue that the popular Cho should run in Busan, considered one of the most decisive areas in the parliamentary elections. But due to a series of failed presidential appointments, the senior secretary faces pressure to step down from some members of the ruling party as well as the opposition, so some people believe this may be an option to provide Cho with a smooth exit.

April for the Moon Jae-in Government

An election is a rare channel for the ruling party to come in contact with the "raw" thoughts of the people. Even groups that want to put some distance with the public cannot escape an election. One thing to note in the April 3 by-election is the thoughts of the ruling party supporters. It was not a defeat simply based on the results of the election. The Liberty Korea Party candidate received over 47,000 votes in Tongyeong-Goseong, Gyeongsangnam-do. The supporters in last year's local election (over 46,000 votes) all returned to the polls. Meanwhile, the Democratic Party of Korea candidate only received over 28,400 votes (60.8%), just half of the votes the party attracted in the local election (46,700). The ruling party supporters made a political assessment by giving up their votes. Failure in state administration embarrasses the government supporters.

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

Kumho to hand over stake in Asiana Airlines to creditors

With Korean Air Lines Co. without a captain after its chairman died soon after losing his board seat, its rival Asiana Airlines Inc. is now up for sale after its parent was forced to yield the flagship company to creditors in return for another financial bailout, putting a strain on the traditional family ownership of Korea’s two largest carriers in the face of heavy competition from budget airliners.

Saudi Aramco buys 17% stake in S. Korea’s Hyundai Oilbank for $1.2 bn

State-owned Saudi Arabian Oil Company (Saudi Aramco), the world’s top crude exporter, has agreed to buy about 1.4 trillion won ($1.2 billion) worth of stakes in Hyundai Oilbank Co. from Hyundai Heavy Industries, to become the second-biggest shareholder of the South Korean refiner.

Seoul should use extra budget for growth, start mulling tax hike, IMF official

The South Korean government should specifically use the proposed extra fiscal spending to bolster waning potential growth in Asia’s fourth largest economy and ready a roadmap to raise tax revenue base to sustain the fast-aging society, said a senior official of the International Monetary Fund (IMF).

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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 Herald http://www.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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Lee Kyung-sik  edt@koreapost.co.kr

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