Headlines, May 20, 2019

SPECIAL NOTICE:

My heart-felt gratitude to the Excellencies and Madams for the kind response in the affirmative to the two very interesting events supported and covered by five media outlets of The Korea Post, including www.koreapost.com (English) and www.koreapost.co.kr (Korean which enjoys a truly broad exposure to the top VIPs in the Korean-speaking society).

One of the events is the Shincheonji Peace Meeting and Luncheon in Seoul on Saturday 25 May 2019 and the other is the one-night-two-day Tour of Ulsan and Gyeongju on May 31-June 1, 2019.

Excellencies and Madams who have not yet had access to the Invitation to the two events and accordingly have not yet made a reservation, please scroll down to the bottom of this Headlines Report for full details of the invitation. For further details, please call Ms. Son (010-4847-3414), Hwang (010-7200-1267) and/or Chairman Lee Kyung-sik of The Korea Post media at 010-5201-1740.

For full details, please scroll down to the bottom of this Report.

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The Korean daily media headlines and humor

Monday, May 20, 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.

Seoul to take steps to stabilize market over volatility

South Korea will take "appropriate" steps to stabilize its financial markets in case of increased volatility, signaling Seoul's possible intervention in the foreign-exchange market. Hong Nam-ki, the minister of economy and finance, said South Korea will strengthen the monitoring of financial markets and take preemptive actions against a risk factor amid the escalating trade frictions between the United States and China.

Moon greets Danish crown prince at Cheong Wa Dae

South Korean President Moon Jae-in met Monday with Denmark's Crown Prince Frederik and his wife, Crown Princess Mary, as they were on a visit to Seoul to mark the 60th anniversary of the two sides forging diplomatic ties. The Danish couple are leading a delegation with the aim of promoting bilateral economic and cultural exchanges, especially on the occasion of the "2019 Korea-Denmark Cultural Year."

Cheong Wa Dae upbeat about job creation amid some positive data

The presidential office said Sunday that its efforts to create jobs have begun to bear fruit, citing some recent data. "Given various statistics, the employment situation is improving, compared with that of last year. It is (still) difficult but hopeful," Jung Tae-ho, senior secretary to President Moon Jae-in for job creation, told reporters.

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

N. Korea Remains Silent on S. Korean Aid Offer

As of Monday morning, North Korea has not responded to Seoul's offer for humanitarian aid. State-run media in the North instead continued their focus on urging the South to reject foreign intervention on inter-Korean issues. The North's propaganda Web site "Uriminzokkiri" slammed the recent working-group meeting between South Korea and the U.S., arguing that the South cannot resolve inter-Korean issues by collaborating with external forces.

Moon to Hold Luncheon with Top S. Korean, US Military Officials

President Moon Jae-in will hold a luncheon at the presidential office on Tuesday with key commanding officers of the South Korean and U.S. militaries. It marks the first time Moon has invited only military officials to the top office. Among those who have been invited are Defense Minister Jeong Kyeong-doo, Joint Chiefs of Staff Chairman Park Han-ki, U.S. Forces Korea Commander General Robert Abrams and Deputy Commander Lieutenant General Kenneth Wilsbach.

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

N. Korea's reaction to Seoul's olive-branch offers litmus test for future inter-Korean ties

How North Korea reacts to Seoul's decisions to provide humanitarian aid and allow business people to visit a joint industrial complex in the communist nation is expected to set the tone for inter-Korean relations going forward. Experts say that a positive reaction could help move the stalemated inter-Korean relations forward and possibly lend a much-needed stimulus for the denuclearization talks between Washington and Pyongyang that have been stalled since the breakdown of their summit in February.

Second DMZ hiking trail to open in Cheorwon in June

The second inter-Korean border trail along the Demilitarized Zone (DMZ) that demarcates South and North Korea will be opened to civilian hikers next month, officials said Monday. The central section of the DMZ in Cheorwon of Gangwon Province, about 90 kilometers northeast of Seoul, will be opened for the government-initiated "DMZ Peace Trail" program on June 1, the officials said.

Dodgers' Ryu Hyun-jin extends scoreless streak to 31 innings, earns 6th win of '19

Scoring off Los Angeles Dodgers' Ryu Hyun-jin is the toughest thing for major league hitters these days. The South Korean left-hander improved to 6-1 for the season after shutting down the Cincinnati Reds over seven innings at Great American Ball Park in Cincinnati on Sunday (local time). Ryu scattered five hits while striking out five and walking one, as the Dodgers prevailed 8-3.

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

Moon faces daunting task to revive stalled nuke talks

Just hours before South Korean President Moon Jae-in was set to appear in his first televised interview with a local broadcaster on May 9 marking his second anniversary of presidency, North Korea fired two short-range missiles. The surprising move came less than a week after it launched multiple projectiles into the East Sea on May 4.

S. Korean investors shift attention to overseas stocks

South Korean investors are turning their attention to foreign stocks, with local shares continuing to yield disappointing results amid the benchmark Kospi’s lack of long-term movement. The nation’s benchmark Kospi index inched up nearly 7 percent from the beginning of the year as of Thursday, but is moving at a snail’s pace compared with other major global indexes.

Moon to meet former US President Bush this week

South Korean President Moon Jae-in will greet former US President George W. Bush at Cheong Wa Dae later this week, Moon's office announced Sunday. Moon is scheduled to meet Bush on Thursday morning, as the former president plans to attend a ceremony to mark the 10th anniversary of former President Roh Moo-hyun's death. It's to be held at Bongha Village in Gimhae, South Gyeongsang Province, 450 kilometers southeast of Seoul, at 2 p.m. that day.

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

Google, Android system cut ties with Huawei

US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, said Sunday it was beginning to cut ties with China's Huawei, which Washington considers a national security threat. In the midst of a trade war with Beijing, U.S. President Donald Trump has barred US companies from engaging in telecommunications trade with foreign companies said to threaten American national security.

Korean-American adoptee healing past wounds with cooking

Shops in the Gyeongnidan area in Itaewon, Seoul, have been closing down one after another as tenants face tough times. The 55,000 square meter area from the military finance corps to the Grand Hyatt Hotel was once a vibrant, crowded district. Owing to the cosmopolitan nature of the neighborhood, craft beer, interesting stores and foreign eateries popped up and attracted younger people seeking a trendy lifestyle.

Big Hit to recruit music producers in North America

The agency for K-pop superstars BTS said Monday that it will recruit new producers in North America. Those who reside in the North America region can apply for the "Next New Creator North America" competition regardless of their age, nationality, education and experience, according to Big Hit Entertainment.

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

Fresh Guess at N.Korea's Nuclear Warheads Offered

A private U.S. think tank has offered yet another guess at the number of nuclear warheads North Korea might possess and has alighted on 20. In a report released last week, the Center for Strategic and Budgetary Assessments estimates that North Korea is the world's eighth nuclear-armed state after the U.S., Russia, China, the U.K., France, Pakistan, and India. Israel, which has a substantial nuclear arsenal but denies it, was excluded from the count.

Falun Gong Spreading in N.Korea Despite Crackdown

The controversial Falun Gong spiritual movement that originated in China is spreading quickly in Pyongyang despite a crackdown by an anxious regime, according to sources. Radio Free Asia quoted an unnamed source as saying, "In early April, the police issued a proclamation ordering citizens to voluntarily report their status as believers in Falun Gong. They threatened to impose harsh punishments on those who don't turn themselves in but are found after the reporting period."

Korea's Q1 Growth Lowest in OECD

Korea's economy grew at the slowest pace among member nations of the OECD in the first quarter of this year. The dismal performance contrasts with President Moon Jae-in's claim that Korea is seeing "sounder economic growth than major advanced countries" and blamed the weak first-quarter growth on "external factors such as a global economic slowdown."

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

Analyzing K-pop’s explosion onto the global stage

Molly Nuo, a 16-year-old high school student in McLean, Virginia, plans to start studying Korean next semester. She first became interested in K-pop after seeing some of her peers doing a cover dance last summer at a park near her house. It was after she saw YouTube videos of BTS (Bangtan Boys) that she truly became a member of the group’s “Army” (fan club). She bought BTS items – T-shirts, stationary, and the like – and went to the group’s concerts. Her laptop is covered in BTS stickers. Her interest in K-pop also led her to become interested in Korea and the Korean language.

Daily life of Pyongyang residents as of May 2019

Jin Cheon-gyu, CEO of Unification TV, has depicted the present day in Pyongyang through writings and photographs while covering the city on the ground in North Korea since early this year. The shadow of tensions may have begun to loom over the Korean Peninsula, but that only raises the need to understand the perspective and daily lives of Pyongyang residents. The very fact that Jin has been able to send his writings and photographs directly to Seoul from Pyongyang via email gives a sense of the changes under way in North Korea.

Full-scale generational succession in place for S. Korea’s chaebol heads

A full-scale generational succession is taking place among the leaders of South Korea’s chaebol groups. New “same persons” (chaebol heads) have been named at LG, Hanjin, and Doosan, following similar changes at Samsung and Lotte last year. Over a dozen other groups are also estimated to be planning their own changes in the near future owing to factors including the current head’s failing health, advanced age, or declared withdrawal from management. A “same person” is a conglomerate head possessing management rights for a “business group” (chaebol) according to the Monopoly Regulation and Fair Trade Act.

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

Tension between the U.S. and Iran elevates

U.S. media including the Associated Press reported Saturday that the U.S. Federal Aviation Administration (FAA) warned commercial airliners flying over the wider Gulf of the risk of being misidentified amid heightened tensions between the U.S. and Iran. Military tensions in the Middle East are heightened as businesses and expatriates left Iraq and Bahrain.

Moon retorts main opposition LKP mentioning ‘heirs of dictatorship’

South Korean President Moon Jae-in expressively targeted at the Liberty Korea Party on the 39th anniversary of the May 18 Gwangju Democratization Movement, firmly criticizing that the only ones who could view May 18 in a different light are the would-be heirs of dictatorship. Upon arrival, LKP leader Hwang Kyo-ahn was faced with strong opposition from some civic group members who flung water, threw chairs and cursed at him. He left the ceremony without even burning incense. Political tension between the ruling and opposition parties will likely increase further after the issue of fast-track reform bills was brought up.

Global businesses vies to cooperate on 5G with Korean carriers

Global tech giants are showing an enormous interest in Korean telecommunicators that have achieved the world’s first 5G commercialization. There have been a series of visits made by leading overseas telecoms and global tech companies to Korea to discuss how to cooperate with Korea. Such moves intend to get a glimpse of various business opportunities via the Korean market as 5G-based B2C has only been in its infancy.

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

S.K.-U.S. Summit in June: Creating an Environment for N.K.-U.S. Negotiations Is Critical

The governments of South Korea and the United States announced that U.S. President Donald Trump accepted the invitation of President Moon Jae-in and would come to South Korea next month for a summit. This comes two months after a meeting in Washington D.C. on April 11. According to Cheong Wa Dae, the two leaders will discuss ways to establish a peace system through the denuclearization of the Korean Peninsula and to strengthen the ROK-US alliance.

Former Vice Minister Kim Hak-eui Arrested, Six Years after Sexual Allegations

Former Vice Minister of Justice Kim Hak-eui (63, pictured) was arrested on the night of May 16. Kim was arrested six years after the allegations of his orgy at a vacation house first emerged. Kim is suspected of having received 160 million won in bribes from businessmen. The prosecutors' investigation is about to gain momentum. Shin Jong-yeol, a chief judge overseeing warrants at the Seoul Central District Court, presided over the questioning of the suspect before the arrest (review of arrest warrant) this day, then issued the warrant saying, "The major criminal charges were verified and the court recognizes the grounds of the arrest, such as the risk of destroying evidence and of fleeing from the law."

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

Samsung Elec vice chair Jay Y. Lee pitches 5G tech in Japan

Jay Y. Lee, vice chairman of Samsung Electronics Co. on a global pitch since last year to ensure the tech behemoth’s leadership in the autonomous and digital age, went to Japan to market the company’s 5G technology that ranges from components and hardware to network equipment. The de-facto leader of South Korea’s largest conglomerate met with senior officials of NTT Docomo and KDDI during his three-day trip to Tokyo last week, according to business sources.

Woongjin Group’s rental business singularizes under Coway

South Korea’s largest home appliance rental service provider Woongjin Coway Co. will acquire rental business unit of Woongjin Co., the holding company of Woongjin Group, to singularize the rental operation after Coway returned to its original parent in March. Woongjin Coway announced in a disclosure last Friday that it will take over Woongjin’s entire rental business at around 49.5 billion won ($41.5 million) on June 30. The plan is aimed at achieving economies of scale and bolstering its rental business after the company went back under oongjin Group in March.

S. Korean economy performs worst in Q1 among 22 OECD members

The Korean economy performed the worst among 22 developed economies of the Organization for Economic Cooperation and Development (OECD) in the first quarter as it bore the hardest blow from the trade conflict between the United States and China. The country’s gross domestic product (GDP) in January-March this year declined 0.34 percent compared to the previous three-month period, poorest reading among 22 OECD member states that have released first-quarter data, according to the OECD on Sunday.

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(1)

Invitation for Ambassadors and Spouses to the 6th Annual Declaration of World Peace Luncheon

Saturday May 25, 2019

Chairman Man-hee Lee of the Heavenly Culture, World Peace Restoration of Light Program, in cooperation with The Korea Post media, cordially invites Your Excellency and Madam to a Gala Luncheon at the La Seine Restaurant at the Lotte Hotel Jamsil in Seoul at 12:00 hours, Saturday May 25, 2019.

The Luncheon follows the 6th Annual Commemoration of the Declaration of World Peace and Peace Walk starting at 9:45 a.m. of the same day. Participation in the walk is not a requirement for the Ambassadors and Madams.

The Korea Post media, publisher of five media outlets, including www.koreapost.com and www.koreapost.co.kr, fully cover the event for the promotion of understanding, relations and cooperation between the esteemed country of Your Excellency and Korea.

We would greatly appreciate it if we could be advised of the convenience of Your Excellency for that day

At edt@koreapost.com and/or Tels 2298-1740/2 at 010-5201-1740.

Dress Code: Optional

RSVP: Tels 2298-1740/2 at 010-5201-1740, edt@koreapost.com, Ms. Hwang at 010-7200-1269 or Mr. Lee at 010-5201-1740.

(2)

Invitation for Ambassadors and Spouses to a Tour of Ulsan and Gyeongju for Ambassadors and Madams

Friday May 31-June 1, 2019

Good news! A tour of Ulsan and Gyeongju for the Ambassadors, Spouses.

I am pleased to inform Your Excellency that The Korea Post organizes a tour for the ambassadors and spouses to visit the Cheomman-sa Buddhist Temple in Ulsan and meet the mayor and the governor in a one-night, two-day program on May 31-June 1, 2019 in celebration of the Buddha’s Birthday in May.

The Ambassadors’ Tour will be fully covered by all five media outlets of The Korea Post, including www.koreapost.com (English) and www.koreapost.co.kr (Korean).

The schedule is as follows:

Day 1 (May 31, 2019)
09:30 hours: Meet at the VIP Guest Room at the Seoul Railroad Station
10:00~12:06 hours: Move by deluxe train from Seoul to Sin-Gyeongju Station
12:06~12:40 hours: Arrive at the Cheonman-sa Temple by Limousine Bus
12:40~13:40 hours: Attend a luncheon co-hosted by the Mayor of Ulsan and the Chief Abbot Venerable Park Seung-eok
13:40~14:40 hours: Presentation of Plaque of Appreciation to each Ambassador followed by a tea party
14:40~15:10 hours: Move to the Gyeongju City Hall.
15:10~16:00 hours: Meet with the Mayor of the Gyeongju City and the Governor of the Gyeongsangbuk-do Province
16:00~17:00 hours: Tour the tourist attractions of the Gyeongju City.
17:00~18:00 hours: Attend dinner hosted by the Mayor of the Gyeongju City.
18:00~20:00 hours: Attend the Gyeongju World Culture Heritage Festival.
20:00 hours: Check in at the Commodore Tourist Hotel for the night.

Day 2 (June 1, Saturday)
08:00~09:00 hours: Breakfast at the hotel, and check out.
09:00~12:00 hours: Tour the tourist attractions of the Gyeongju City.
12:00~13:30 hours: Luncheon with the Mayor and other city dignitaries.
13:30~14:00 hours: Move to Sin-Gyeongju RR Station.
14:00~14:50 hours: Brief farewell greetings by the Mayor and free time.
14:50~16:54 hours: Move by deluxe train from Sin-Gyeongju to back to Seoul.

Please RSVP Your Excellency's convenience at 010-5201-1740, 010-3388-1682, 010-4847-3414

Very Respectfully Yours

URL : http://www.koreapost.com/news/articleView.html?idxno=8996

Lee Kyung-sik edt@koreapost.com