Headlines, May 17, 2019

The Korean daily media headlines and humor

Friday, May 17, 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.

Minister makes last-minute pitch for S. Korea's exemption from U.S. auto tariffs

South Korean Trade Minister Yoo Myung-hee left the United States Thursday after making a last-minute pitch for South Korea's exemption from potential U.S. tariffs on imported cars and parts. At the end of her five-day trip to Washington, Yoo said she met with U.S. trade officials to underscore Seoul's position on the tariffs and will wait for the outcome that is due by Saturday. "I want to say that we did our best until the very end to ensure the Section 232 measures aren't applied to South Korean cars," the minister told reporters at Washington's Dulles International Airport before boarding her flight to Seoul.

S. Korean hostage in Libya freed: Cheong Wa Dae

A South Korean man who was abducted in Libya last year has been released, Cheong Wa Dae announced Friday. The 62-year-old worker at a local firm was taken hostage by a group of around 10 armed militants on July 6. The man, identified only by his surname, Joo, was freed unharmed on Thursday (Seoul time), according to Chung Eui-yong, head of the presidential National Security Office.

Samsung spends big on R&D despite weaker profits

Samsung Electronics Co.'s spending on research and development (R&D) hit a near-record high in the first quarter of this year, despite a plunge in earnings, company data showed Friday. The global tech juggernaut's R&D expenditures stood at 5.04 trillion won (US$4.24 billion) in the January-March period, according to the company's quarterly report. It is slightly lower than the all-time high of 5.32 trillion won set in the last quarter of 2018, but it marks the second straight quarter that Samsung's R&D spending has topped the 5 trillion-won mark.

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

Office: S. Korean Hostage in Libya Freed

The presidential office said that a South Korean man who was abducted in Libya last year has been released. National Security Office Director Chung Eui-yong said in a news briefing on Friday that a man in his 60s, identified only by his surname Joo, was freed unharmed on Thursday, 315 days after he was taken hostage by a group of ten armed militants on July 6, 2018 in Libya. Chung said that the Seoul government has worked hard to secure Joo's release by setting up a joint task force of government agencies and seeking cooperation with allies as well as the Libyan government.

Former Vice Justice Minister Arrested for Alleged Bribery

Former Vice Justice Minister Kim Hak-ui was arrested on Thursday for charges of bribery. The Seoul Central District Court issued an arrest warrant for Kim saying that most of the charges against him were proven and that the suspect may attempt to destroy evidence and flee. He is accused of receiving bribes worth more than 100 million won from construction contractor Yoon Jung-cheon, as well as sexual services in return for business favors.

38 North: Low Levels of Activity at Dongchang-ri Missile Site

A U.S.-based Web site monitoring North Korea has assessed there is no new activity at the North's Sohae Satellite Launching Station in Dongchang-ri. 38 North said on Thursday that commercial satellite imagery from May 10th shows no movement around the engine test stand or launch pad at the North Korean missile site since March 8th. However, the Web site said that low levels of activity have been observed at other areas, which suggest continued improvements to the missile site.

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

Moon urges more active fiscal policy for growth, welfare

President Moon Jae-in called Thursday for an aggressive fiscal policy to cope effectively with a slew of "structural" problems in South Korea. He pointed out that Asia's fourth-largest economy is ridden with such pressing concerns as a widening income gap, unemployment, aging society and low childbirth rate.

Auto shares shine on reports of U.S. auto tariff delay

Shares in Hyundai Motor Group affiliates on Thursday fared better than other large-cap stocks on news that U.S. President Donald Trump will delay his decision to impose steep tariffs on imported auto and parts. The Trump administration plans to delay the imposition of tariffs of up to 25 percent on imported cars and parts for up to six months as talks continue with Japan and the European Union, according to foreign media reports.

Bolton calls N. Korea a 'pressing' challenge

U.S. National Security Adviser John Bolton referred to North Korea as a "pressing" challenge on Thursday after talks with Singapore's top diplomat. Bolton wrote on Twitter that he met with Singaporean Foreign Minister Vivian Balakrishnan in Washington to discuss the two countries' ties.

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

Former vice justice minister arrested for alleged bribery

Former Vice Justice Minister Kim Hak-eui was arrested Thursday on bribery charges. The 63-year-old Kim, who briefly held the No. 2 post at the Ministry of Justice in 2013, is accused of receiving sexual favors and bribes worth 130 million won ($109,000) between 2006 and 2008, including money and valuables worth 30 million won from a construction contractor named Yoon Jung-cheon.

Moon, Trump to hold summit in Seoul in June

President Moon Jae-in and US President Donald Trump will hold their eighth summit in Seoul in June to discuss North Korea and bilateral issues, Seoul and Washington’s presidential offices said Thursday. “At the summit, the two leaders plan to discuss ways to strengthen the Korea-US alliance and to establish permanent peace through complete denuclearization of the Korean Peninsula,” Cheong Wa Dae spokesperson Ko Min-jung said in a statement.

Celltrion pledges to invest W40tr, create 110,000 jobs by 2030

Celltion Chairman Seo Jung-jin announced Thursday the biopharmaceutical group will invest 40 trillion won ($33.6 billion) and create some 110,000 jobs by 2030 to establish itself as a global leader. Speaking at Incheon City Hall, Seo pitched the future of making South Korea the hub of global biopharma industry, with a global health care logistics network. Celltrion, headquartered in Songdo, Incheon, will collaborate with local governments such as Incheon and North Chungcheong Province to build a bioindustrial valley to invigorate Korean raw material businesses, he said during a press conference.

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

Moon-Trump summit due in Seoul next month

President Moon Jae-in will discuss ways to revive dialogue with North Korea during a summit with U.S. President Donald Trump later next month in Seoul, Cheong Wa Dae said Thursday. "The two leaders will talk about measures to build a permanent peace here through complete denuclearization of the Korean Peninsula," Cheong Wa Dae spokeswoman Ko Min-jung told reporters in a media briefing. The exact timeline for Trump's visit to the South has yet to be decided, with both sides agreeing to confirm a detailed summit schedule after negotiations through diplomatic channels, according to the presidential office.

Will Bitcoin continue its rallies?

Bitcoin, the most widely used virtual coin, rose above the 9.8 million won ($8,240) mark, Thursday. The price jumped over 1.3 million won in a week. However, outlooks are divided as to whether bitcoin will continue its upward momentum throughout the year. According to online cryptocurrency information service provider coinmarketcap.com, Thursday, bitcoin's price hovered over 9.8 million won per coin, up 2.96 percent from the day before.

Gyeonggi governor cleared of all charges

A Suwon court cleared Gyeonggi Province Governor Lee Jae-myung of charges of abuse of power and violating the Election Law, Thursday, saying the governor's actions to commit his brother to a mental health facility could not be seen as an abuse of his authority.The Seongnam branch of Suwon District Court ruled Lee not guilty of the four charges brought against him ― one alleging abuse of power, and three claiming he gave false information during election campaigns.

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

Trump to Visit Seoul in Late June

U.S. President Donald Trump will visit Seoul to meet with his South Korean counterpart Moon Jae-in next month. He will fly in from Japan after attending a G20 summit there on June 28-29. Cheong Wa Dae spokeswoman Ko Min-jung on Thursday told reporters the two leaders "will discuss how to build a permanent peace framework based on close cooperation through complete denuclearization of the Korean Peninsula and to strengthen the bilateral alliance."

¼ of Juvenile Delinquents Are Recidivists

Four out of 10 juvenile delinquents between 10 and 18 already have a prior criminal record, according to a recent report by the National Youth Policy Institute released Monday. The number of hardened young recidivists is on the rise even as the number of first- or second-time offenders is decreasing, and those who have nine or more criminal records account for a whopping 15 percent of all juvenile delinquents.

Moon Meets Prince Andrew

President Moon Jae-in met Britain's Prince Andrew at Cheong Wa Dae on Wednesday. The Duke of York, who mostly has a role pushing British business interests, was in Korea to attend the 10th Asian Leadership Conference hosted by the Chosun Ilbo. Referring to Andrew's visit to the traditional Hahoe Village in Andong, North Gyeongsang Province on Tuesday, Moon said, "I hope Andong will become a symbol of bilateral exchange as well as an international tourist town."

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

S. Korean government consults with NGOs and religious organizations regarding aid to N. Korea
In recent days, the South Korean government has been soliciting the opinions of various groups in society, including NGOs and religious organizations, with the hope of moving forward with humanitarian food aid for North Korea. The government will reportedly make its decision about its plan of action after spending the next few weeks listening to a wide range of opinions from civic society about the need for humanitarian aid to North Korea, as well as the timing, method, categories, and amount of that aid.

Escalating US-China trade war harms Korean, Japanese, Taiwanese smartphone parts suppliers
The announcement by the Office of the US Trade Representative (USTR) on May 13 that it’s moving to impose up to 25% in tariffs on nearly all Chinese products, including smartphones and laptop computers, is a big blow for IT companies in South Korea, Japan, and Taiwan, which export a large percentage of their electronic parts to China. The growing uncertainty in the export market caused by the trade war between the US and China is likely to make matters even worse for Samsung Electronics, which already saw its profits plunge in the first quarter of the year.

US and Russia continue to clash over method for N. Korea’s denuclearization
The US and Russia have once again confirmed their differences about the approach toward North Korea’s denuclearization. The US has emphasized that it will maintain sanctions and pressure on North Korea until the North’s complete denuclearization, while Russia has once again called for a security guarantee for the North Korean regime following its summit with the North last month. This disagreement was apparent during a press conference held by US Secretary of State Mike Pompeo and Russian Foreign Minister Sergey Lavrov following a meeting that lasted for about three hours in Sochi, Russia, on May 14. Lavrov stepped up to the microphone first. While mentioning a telephone call between US President Donald Trump and Russian President Vladimir Putin that took place on May 3, Lavrov said, “We are promoting dialogue between Washington and Pyongyang. We are prepared to support such a dialogue.”

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

‘Three SRBMs launched by N. Korea,’ USFK concludes

The United States Forces Korea (USFK) has provisionally concluded that the projectiles launched by North Korea on May 4 and 9 were the same type of new short-range ballistic missiles (SRBMs), and named them KN-23. Such eval‎uation was officially reported to the U.S. Department of Defense via the United States Indo-Pacific Command and shared with the South Korean forces.

SK invests 1.2 trillion won in Vingroup in Vietnam

South Korea's SK Group will invest 1.2 trillion won in Vingroup, the largest Vietnamese company on the basis of market cap. The “global partnering” vision of Chairman Chey Tae-won seems to gain speed as the South Korean company has decided to make a large investment in the No. 1 Vietnamese company following the last year’s investment in Masan Group, the second largest company in the Southeast Asian country.

Mantle found on the back side of the moon

The first-ever concrete piece of evidence for mantle on the moon, just like the Earth, was found. The mantle is a layer of rock inside a planetary body right below a crust, surrounding a metal core. This is the first outcome produced by China’s Chang’e-4, an unmanned lunar probe, which has successfully landed on the far side of the moon on January 3 for the first time in human history. This represents a big step forward for humans to understand the origin and early conditions of the moon and the process of planetary formation.

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

The President's Time Moves on to the National Assembly

"If the National Assembly does not do its work, the damage will only go to the people" (meeting with senior secretaries and aides on May 13). "Along with the efforts of the government, we desperately need cooperation from the National Assembly" (cabinet meeting on May 14). "This year, the third year in office, we will definitely achieve outcomes that can be felt on site" (2019 Convention of Representatives of Small and Medium-sized Enterprises of the Republic of Korea on May 14).

Insufficient Investigation of Burning Sun, The Police Was Busy Protecting Its Own

On May 15, the police announced the interim results of their investigation of Burning Sun. Inspector Yun referred to as the "police chief" in the KakaoTalk chatroom with the singer Seungri (Lee Seung-hyun) avoided charges of bribery in the police investigation. He was treated to more than ten golf games and meals worth over 2.6 million won, and the police acknowledged that they were relevant to Yun's duties. However, the police claimed that they were not in exchange for any special favors. They also said that the amount was too small to be subject to criminal punishment, and that it would only be subject to a fine based on a bill prohibiting solicitation. At the same time, the police only referred Yun’s case to the Prosecution Service on charges of misfeasance and leaking official secrets for having informed the owner of a bar about a police crackdown. The investigation also cleared the police of most of the suspicions of assault and manipulation of evidence raised by Kim, a victim of assault. The Seoul Metropolitan Police Agency established a special team in its Metropolitan Investigation Task Force in March, but the investigation of suspicious ties with the police ended after uncovering petty crimes with no major crime. They were "protecting their own," any way you looked at it.

Kim Jong-un's Missile Launch Goes Awry

North Korea hit President Moon Jae-in and U.S. President Donald Trump by launching missiles. On the outside, it looks like military provocation, but it was actually a political attack. The missile launch triggered criticism from the international community. Nonetheless, the "self-injuring" action was probably intended to put pressure on South Korea and the United States. The latest attempt, at least, looks successful. In both South Korea and the United States, voices are busy declaring the failure of policies on North Korea. The two presidents suffered political injury.

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

Samsung Elec to cement chip leadership by start 3nm fabrication in 2021

Samsung Electronics aims to widen its gap with its rivals in chipmaking technology by moving onto the 3-nanometer (nm) next year with a goal to start mass production of chips based on the bar-raising fabrication in 2021, according to its foundry process roadmap unveiled at the Samsung Foundry Forum 2019 USA held in Santa Clara, California on Tuesday (local time).

Celltrion to invest $33.6 bn by 2030 to groom bio healthcare as S. Korea’s key industry

Celltrion Inc., South Korea’s leading biosimilar manufacturer, will invest 40 trillion won ($33.6 billion) in the bio healthcare sector by 2030, a move that is expected to help create 110,000 new jobs including 10,000 direct employment in South Korea. The plan was announced by Celltrion Chairman Seo Jung-jin in a press conference on Thursday under Celltrion Group Vision 2030 initiative.

Renault Samsung reaches tentative labor settlement with union

The management and labor union of Renault Samsung Motors Corp. tentatively reached an agreement on wages and other work terms for this year, raising prospects for normalization at the Busan plant that has been running at 75 percent of its full capacity amid labor disputes since last fall. The South Korean unit of French automaker Renault S.A. said Thursday the two parties struck an agreement after 40 hours of non-stop discussions. The collective bargaining terms would be put to a vote by unionized workers on May 21. The settlement is expected to pass as a growing number of workers have become fretful about their livelihood amid speculation about the French carmaker packing out.

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