Headlines, April 29, 2019

The Korean daily media headlines and humor

Monday, April 29, 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.

N.K. media renew calls for self-reliance amid stalled nuke talks with U.S.

North Korea's media outlets on Sunday redoubled calls for "self-reliance" as its nuclear negotiations with the United States remain in limbo, with little progress in its efforts to ease international sanctions. In recent weeks, Pyongyang has been hammering away at the self-reliance campaign, apparently to strengthen national unity amid Washington's hard-line stance in the nuclear negotiations and a lack of substantive headway in key inter-Korean cooperation projects.

Multinational maritime drills set to begin in Busan this week

South Korea, the 10-member Association of Southeast Asian Nations (ASEAN) and other partner countries will kick off a combined maritime security exercise in the southern port city of Busan this week, the Navy said Sunday. The two-part exercise aimed at countering maritime crime, including illicit transactions of weapons and other banned items, will take place in Busan from Monday to Thursday and in Singapore from May 9-13.

S. Korea, Chile to hold summit on upgrading bilateral ties

South Korea and Chile will hold a summit in Seoul later Monday on elevating their relations to a new level, as they seek to cement cooperation on regional and international issues, presidential officials here said. President Moon Jae-in is scheduled to greet his Chilean counterpart, Sebastian Pinera, at an official welcoming ceremony to be held at the presidential compound, Cheong Wa Dae.

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

Trump Hints at Asking S. Korea to Pay More for US Troops

U.S. President Donald Trump has implied that Washington will continue to ask Seoul to increase its contribution to the cost of stationing American troops in South Korea. During a political rally in Wisconsin on Saturday, Trump said that the U.S. spent five billion dollars defending a wealthy country and that that country paid 500 million dollars to the U.S. He did not identify the country by name.

Finance Minister Vows Efforts to Stabilize Oil Prices

Finance Minister Hong Nam-ki has vowed efforts to stabilize local oil prices following a U.S. announcement that it would end sanctions waivers for Iranian oil. Speaking at a meeting with officials in Seoul on Monday, Hong said that the government will work hard to mitigate domestic oil price increases in the case of a possible short-term rise in global crude oil prices.

Bolton: US Has Little Interest in Six-Party Talks

U.S. National Security Adviser John Bolton said on Sunday that the U.S. has little interest in returning to six-party talks in order to persuade North Korea to give up its nuclear weapons. During an interview with Fox News Sunday, Bolton said that the U.S. is not trying to exclude other nations from nuclear talks with Pyongyang, but that it's not what the U.S.' preference is.

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

Finance minister says 'no plan' to revise economic growth target

South Korea's finance minister on Monday ruled out the possibility that the government would adjust the country's economic growth target despite an economic slowdown. "For now, (the government) has no plan to revise its growth rate forecast," Hong Nam-ki, the minister of economy and finance, told reporters after a meeting with officials at a government building in Seoul.

Tours to JSA to resume on southern side this week

Tours to the southern side of the truce village of Panmunjom that straddles the inter-Korean border will resume this week, the defense ministry said Monday. The popular tours south of the Joint Security Area (JSA) have been suspended since October last year, as South and North Korea launched a campaign to demilitarize the area under a military tension reduction agreement signed a month earlier. The two Koreas had agreed to restart the tour program after the area's demilitarization and allow visitors to freely move around both sides of the JSA from 9 a.m. to 5 p.m. across the demarcation line running through the zone.

S. Korea, Chile to hold summit on upgrading bilateral ties

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

Bolton says 6-party forum is not preferred approach on N. Korea

U.S. National Security Adviser John Bolton said Sunday that reviving six-party talks on North Korea's denuclearization is not Washington's preferred approach. In an interview with Fox News, Bolton was asked if President Donald Trump would go along with Russian President Vladimir Putin's recent suggestion that the six-party talks, which collapsed in 2009, be restored to break the impasse in denuclearization negotiations between Washington and Pyongyang.

Finance minister says 'no plan' to revise economic growth target

South Korea's finance minister on Monday ruled out the possibility that the government would adjust the country's economic growth target despite an economic slowdown. Hong Nam-ki, the minister of economy and finance, made the comments in a meeting with officials at a government building in Seoul. His comments came days after the Bank of Korea said that the country's gross domestic product backtracked an estimated 0.3 percent in the first three months of the year from the previous quarter, marking the worst performance in an almost a decade.

North Korea, trade high on agenda for Trump-Abe meeting

North Korea's nuclear program and trade are at the top of the agenda for President Donald Trump's meeting Friday with Japanese Prime Minister Shinzo Abe, one of the president's key backers on the world stage. The meeting comes on the heels of Thursday's nuclear talks between North Korean leader Kim Jong Un and President Vladimir Putin of Russia. Trump's second summit with Kim in Hanoi in February ended with no agreement, but the president says progress is being made.

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

U.S. Chasing Ringleader of N.Korean Embassy Raid

U.S. investigators are chasing the leader of the shadowy North Korean dissident group Free Joseon who led a daredevil raid on the North Korean Embassy in Madrid on Feb. 22, Reuters reported Saturday. Investigators are searching for Adrian Hong Chang in central California, where he is believed to be hiding, with a federal arrest warrant. Spanish authorities issued an international arrest warrant for the raiders and asked the U.S. to extradite them under a mutual treaty.

'Avengers: Endgame' Draws More Than 6 Million Viewers Within a Week

Marvel's latest superhero blockbuster "Avengers: Endgame" has attracted over 6 million moviegoers in less than a week since its release last week. The film has been shattering box-office records, drawing over 1 million viewers in just four-and-a-half hours after its release here on April 24 -- the shortest time ever. According to the Korean Film Council, the film attracted over 1 million viewers every day and reached the 6-million mark over the weekend.

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

Putin says security guarantee for North Korea necessary for denuclearization process 　

On Apr. 25, Russian President Vladimir Putin said that a security guarantee for the North Korean regime would be necessary for the denuclearization of the Korean Peninsula. During a solo press conference held after his summit with North Korean leader Kim Jong-un in Vladivostok on Thursday, Putin said that “denuclearization means arms reduction by North Korea” and emphasized that “North Korea needs to have a guarantee for maintaining its sovereignty and its national security.”

Putin emphasizes North Korea and Russia have “similar positions” on denuclearization

The primary item on the agenda of the first summit between North Korean leader Kim Jong-un and Russian President Vladimir Putin on Apr. 25 appears to have been the issue of the denuclearization of the Korean Peninsula, including the North Korea-US denuclearization talks, which are currently at an impasse, and sanctions on North Korea. Considering that this was the two countries’ first summit in eight years, it reportedly also included a wide-ranging discussion of economic cooperation.

Putin’s reason for bringing up the Six-Party Talks in Vladivostok summit

Following the summit between North Korean leader Kim Jong-un and Russian President Vladimir Putin in Vladivostok on Apr. 25, the next question is why Putin made mention of resuming the Six-Party Talks, remarking that “North Korea needs to have a guarantee for maintaining its sovereignty and its national security.”“While I’m not sure whether the Six-Party Talks need to be immediately resumed right now, there will need to be an international guarantee if we reach the point where North Korea’s security must be guaranteed,” Putin said during a press conference held following the summit on Thursday. “If a guarantee from the US and South Korea alone is sufficient, that’s fine, but if not, the Six-Party Talks may be required to create an international security system for North Korea.”

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

Worst Seoul-Tokyo relationship begins affecting Korean businesses
While South Korea-Japan relations remain constantly low, there are signs that political conflict between the two neighbors spread to the economic realm. Notably, rather than Korean conglomerates, small- and mid-sized Korean companies that are selling products to Japanese consumers, and merchants owning small stores including Korean restaurants have started to take hit.

Hyundai adds Remote Smart Parking Assist to its new cars
There was a slot to park a car, but the space was not enough to open the door and get off the car after parking. I got off the car after parking it in front of the parking slot. The car moved into the slot when I pushed the reverse button on the smart key. The car moved back to the original spot when I pushed the start button. Hyundai Motor’s latest Sonata, which was released last month, offers the “Remote Smart Parking Assist (RSPA).” The car moves and turns the handle for parking or pulling out when the buttons on the smart key are pushed.

A doll as a gift? Give me Disney stock instead
Kids in the U.S. used to get a Mickey Mouse doll for birthday, but now shares of the Walt Disney Company are a preferred gift of choice. CNN reported Thursday that shares of listed companies, which could contribute to the growth of receivers’ wealth, have become a popular gift for birthdays, Christmas and anniversaries. Stock gifting can teach young kids about economic concepts at early ages and help adults to diversify his or her asset portfolio. You could also give a stock certificate as a physical souvenir or give shares purchased on personally meaningful dates, which makes them a perfect surprise gift.

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

BOK chief calls stronger fiscal actions to stimulate corporate investment

South Korea’s central bank chief on Friday called the current economic conditions “grave” and urged bolder fiscal actions to stimulate corporate sentiment and investment after the bank released a grim report card on the first-quarter economy at its worst in a decade. “We must perceive the present situation with gravity,” Bank of Korea (BOK) Governor Lee Ju-yeol said in a breakfast meeting with heads of local banks.

Hyundai Mobis Q1 OP up 9.8% on solid module, core parts business

Hyundai Mobis Co., auto parts making unit under South Korea’s Hyundai Motor Group, reported a 9.8 percent gain in operating profit on year in the first quarter thanks to brisk sales of the Palisade, new car manufactured by its key client Hyundai Motor Co., and electric vehicles. Hyundai Mobis said in a regulatory filing on Friday that it raised 493.7 billion won ($425.2 million) in operating profit in the January-March period, up 9.8 percent from the same period last year, and sales rose 6.6 percent to 8.7 trillion won. Net profit increased 4.3 percent to 485.8 billion won.

Hotel Shilla’s target stock price revised up on rosy outlook

South Korean brokerage houses have lifted up their price targets on the share of Hotel Shilla Co. citing rosy outlook for the company that reported an earnings surprise for the first quarter on a surge in sales at its duty-free outlets led by shopping spree by individual Chinese merchants. KB Securities Co. on Monday raised its target price on Hotel Shilla to 135,000 won ($116.52) from $114,000 won while maintaining its “buy” opinion, citing the better-than-expected earnings for the first three months of this year and upbeat outlook.

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Lee Kyung-sik edt@koreapost.com