Headlines, May 9, 2019

The Korean daily media headlines and humor

Thusrsday, May 9, 2019

Round-up of important news from major Korean dailies and from international media today

U.S. won't 'intervene' if S. Korea sends food aid to North: White House

The United States won't "intervene" if South Korea decides to send food aid to North Korea, the White House said Wednesday. U.S. President Donald Trump expressed support for South Korea's possible humanitarian assistance to the North during a phone call with President Moon Jae-in on Tuesday, the latter's office said.

Finance minister calls for swift passage of extra budget

South Korea's chief economic policymaker on Wednesday called on the National Assembly to swiftly pass the 6.7 trillion-won (US$5.8 billion) extra budget bill, as Asia's fourth-largest economy is facing downside risks. "The timing and speed are crucial factors of the extra budget," Hong Nam-ki, the minister of economy and finance, said during a meeting on the revitalization of the national economy.

N. Korea launched rockets, missiles last week: U.S. defense chief

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

White House: US Won't Intervene if S. Korea Sends Food Aid to N. Korea

The White House said on Wednesday that the U.S. won't "intervene" if South Korea decides to send food aid to North Korea. White House press secretary Sarah Sanders made the remarks to reporters when asked if Trump approves of the plan despite the North's firing of projectiles last week. Sanders said that the U.S. will continue its maximum pressure campaign in regards to North Korea and that Washington remains focused on denuclearization.

Ex-Vice Justice Minister to be Questioned over Sex Scandal

Former Vice Justice Minister Kim Hak-ui is set to appear before prosecutors over allegations he received bribes and sexual favors from a land developer. A special prosecution team in charge of the high-profile case will question Kim on the allegations beginning Thursday at 10 a.m. Kim took office in March 2013 as vice justice minister but stepped down after just six days amid allegations that he attended a sex party hosted by developer Yoon Jung-cheon at his villa in Wonju.

WFP: N. Koreans Suffering from Serious Malnourishment

An official at the UN’s World Food Program(WFP) said the North Korean people are suffering from serious malnourishment due to a severe food shortage. James Belgrave, spokesperson of the WFP’s Pyongyang office, gave the assessment after visiting the communist country with a United Nations team for two weeks in March. The UN Food and Agriculture Organization and the WFP recently released a food security assessment report that says more than ten million North Koreans are suffering “severe food shortages” after the worst harvest in a decade.

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

S. Korea's current account surplus narrows in March

South Korea's monthly current account surplus narrowed in March from a year earlier amid slowing exports, central bank data showed Wednesday. The country's current account surplus came to US$4.8 billion in March, down from $5.1 billion a year earlier, according to the preliminary data from the Bank of Korea (BOK). But the surplus widened from the previous month's $3.6 billion.

Unification minister reaffirms commitment to inter-Korean deals in first trip to N.K.

Unification Minister Kim Yeon-chul traveled to North Korea on Wednesday in his first trip across the border since taking office, reaffirming Seoul's commitment to carrying out summit agreements between the two sides. Kim, who took office as Seoul's point man on the North last month, visited the inter-Korean liaison office in the North's border city of Kaesong that the two sides established last year as part of the implementation of summit agreements between President Moon Jae-in and North Korean leader Kim Jong-un.

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

US won't 'intervene' if S. Korea sends food aid to North: White House

The United States won't "intervene" if South Korea decides to send food aid to North Korea, the White House said Wednesday. US President Donald Trump expressed support for South Korea's possible humanitarian assistance to the North during a phone call with President Moon Jae-in on Tuesday, the latter's office said.

Democratic Party elects Rep. Lee In-young as new floor leader

Ruling Democratic Party of Korea on Wednesday elected Rep. Lee In-young as its new floor leader to navigate through the political impasse with main opposition Liberty Korea Parry and carry the party to victory in next year‘s general elections. Three-term lawmaker Lee, 55, received 76 votes out of 125 to clinch the floor leader’s position, vowing to win the upcoming general election in April next year.

Deputy PM urges swift passage of extra budget amid growing downside risks

South Korea’s top fiscal chief Wednesday urged the National Assembly to pass the government’s 6.7 trillion won ($5.7 billion) supplementary budget, citing the growing downside risks weighing on the economy. His remark came amid a weeks-long paralysis of the assembly’s legislative functions as the conservative main opposition party embarked on a nationwide protest against a set of fast-track reform bills.

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

North Korea launched 'rockets, missiles' last week: US defense chief

Acting U.S. Defense Secretary Patrick Shanahan said Wednesday that North Korea fired "rockets and missiles" last week, the first time the Pentagon has described the weapons tests. Shanahan was referring to North Korea's tests on Saturday (local time) of what it has called multiple rocket launchers and tactical guided weapons. The firings appeared to signal Pyongyang's frustration with Washington over stalemated negotiations on dismantling the North's nuclear weapons program in exchange for sanctions relief.

Korea to develop AI chips for self-driving cars

The government will invest 14.3 billion won ($12.2 million) over the next three years to develop artificial intelligence (AI)-powered semiconductors for self-driving cars, the Ministry of Science and ICT said Wednesday. The ICT ministry said self-driving cars are a new growth engine in the semiconductor industry and the investment plan is to help local companies that are required to speed up the development of related technologies. The government expects the self-driving semiconductor market will grow to $26.3 billion by 2025.

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

Gov't to Offer Food Aid to N.Korea Despite Missile Provocation

The government is looking into possibility of providing food aid to North Korea despite the North's firing of a short-range missile last weekend. "I will make an announcement after considering the matter comprehensively," Unification Minister Kim Yeon-chul told reporters Wednesday. The comments came just a day after Cheong Wa Dae said President Moon Jae-in and his U.S. counterpart Donald Trump discussed the issue in a telephone call on Tuesday.

Sales Growth of Imported Cars Slows

Sales of imported cars, which reached a record high last year, plummeted last month. The Korea Automobile Importers and Distributors Association said Tuesday that only 18,219 imported cars were sold in April, down 29.7 percent compared to the same month last year. Mercedes Benz, the No. 1 player, sold only 6,543 cars here last month, down 11 percent on-year. A Mercedes Benz Korea staffer said, "Sales dropped, because inventories of older models were depleted ahead of the releases of new A-Class, CLA, GLC and GLE models in the second half of this year."

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

N. Korea’s test launch tests Trump’s approach to Pyongyang

North Korea’s launch of short-range projectiles has brought the North Korean policy of US President Donald Trump into question. While the US has concluded that the projectiles were not intermediate- or long-range missiles and has been attempting to bring North Korea to the negotiating table, the risk remains that the recent thaw could revert to a bruising confrontation, depending on how things play out.

S. Korean experts mostly praise Moon’s efforts toward inter-Korean relations over past 2 years

South Korean President Moon Jae-in’s greatest success in the areas of unification, foreign policy and security over the past two years has been advancing denuclearization and peace negotiations to the next level through summit diplomacy between South and North Korea and between North Korea and the US, experts said. What they found disappointing was South Korea’s lack of a unique strategy or a proactive role in that process.

S. Korean experts name denuclearization and inter-Korean relations as top priorities for Moon admin.

“Establishing peace on the Korean Peninsula through progress with denuclearization and the advancement of inter-Korean relations.” This in a nutshell represents the tasks named by experts as the biggest priorities for the Moon Jae-in administration in the areas of reunification, foreign affairs, and national security. Their selection read as a call for the administration spend its remaining three years ushering peace on the peninsula to a point of no turning back. It also echoes the findings of a survey in which respondents were asked to name the top three tasks, with eight of 10 naming the “establishment of a de facto end-of-war situation through increased inter-Korean military trust.”

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

Iran partly resumes nuclear activities to enrich uranium

Iranian President Hassan Rouhani will announce in a public speech on Wednesday (local time) to resume nuclear activities for uranium enrichment, according to Iran’s state-run IRNA on Tuesday. Such a move was made by Iran one year after U.S. President Donald Trump unilaterally declared the withdrawal on May 8 last year from the Joint Comprehensive Plan of Action, or JCPOA, which was led by the Obama administration. The resumption of Iran’s nuclear development stands to have great impact on the nuclear negotiations with North Korea, which has recently been left at a crossroads.

China’s congress chairman: S. Korea should state its position on THAAD

Li Zhanshu, the chairman of China's National People's Congress, met with South Korea’s National Assembly Speaker Moon Hee-sang on Tuesday in Beijing and pressured the South Korean government to state its position on the issue of Terminal High Altitude Area Defense (THADD). Speaker Moon, the second in line after President Moon Jae-in, asked for a meeting with Chinese President Xi Jinping but the request was declined against practice, causing a controversy over China’s disrespect for South Korea.

Seoul city hotels to be changed into housing for young people

Tourist hotels located in the center of Seoul will be changed into housing for the youth. The Seoul Metropolitan Government announced on Wednesday its decision to convert the 238 rooms of Benikea Hotel, near the Dongmyo subway station (Line No. 1) in Seoul’s Jongno District, into housing for young people.

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

Trump Says South Korea's Food Aid to North Korea Would Be a Timely and Positive Gesture

On the night of May 7, President Moon Jae-in spoke with U.S. President Donald Trump over the phone and discussed ways to manage the political situation on the Korean Peninsula, which has become somewhat complicated after North Korea's launch of short-range missiles on May 4. This is the twenty-first phone call between the two leaders since President Moon entered office and the first since their last phone conversation on February 28, the day that the North Korea-United States summit collapsed in Hanoi.

Samsung BioLogics Employee Arrested for Hiding Company Servers under the Factory Flooring

Prosecutors confirmed circumstantial evidence suggesting that Samsung BioLogics, currently being investigated for accounting fraud, hid the company servers and employee laptops under the factory flooring in preparation for the investigation by the Prosecution Service. On May 7, prosecutors ripped out the flooring of the factory and secured the evidence. They also requested an arrest warrant for the employee responsible for concealing the servers and laptops. On May 3, the prosecutors also discovered the company's network server while searching the house of an employee of Samsung Bioepis, an affiliate of Samsung BioLogics.

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

Turkey lifts provisional safeguard measures on S. Korean steel

Turkey has lifted its provisional duties on steel products imported from South Korea upon a decision to wrapping up its investigation on safeguard measures without taking further action, erasing uncertainties over Korea’s steel export to Turkey. According to the Ministry of Trade, Industry, and Energy on Wednesday, Turkey announced on Tuesday it will terminate its safeguard investigation on steel imports without taking further action. Following the termination, a provisional 25-percent tariff on steel imports would be immediately lifted.

Foreign investors’ holding in Samsung Elec hits highest in more than 18 yrs

Foreign investors’ stake in Samsung Electronics Co. hit the highest level in more than 18 years as their buying spree of the world’s biggest memory chip maker has continued on growing expectations for a rapid recovery in global memory chip demand. As of Tuesday, foreign investors held a total 57.36 percent stake in Samsung Electronics, breaking the previous record high of 57.30 percent marked in end-March 2001, according to Korea’s sole stock market operator Korea Exchange and market tracker FnGuide.

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