Headlines, May 24, 2019

Many suspect Moon is being had, cry out, “Wake up, Mr. President!”

‘Chairman Kim, please do President Moon a favor who really means to help you!’

By Lee Sam-sun, Political Editor

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The Korean daily media headlines and humor

Friday, May 24, 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.

Kang stresses close communication with Tokyo over forced labor in talks with Kono

South Korea's Foreign Minister Kang Kyung-wha has stressed the importance of close communication with Japan to address a simmering row over Tokyo's wartime forced labor during her talks with Japan's top diplomat Taro Kono in Paris, her ministry said Friday. The two top diplomats met on the margins of the Ministerial Council Meeting of the Organization for Economic Cooperation and Development, where tensions were palpable over the issue stemming from Japan's 1910-45 colonization of the peninsula.

S. Korea holds memorial service for ex-President Roh

Wearing yellow visors, a color that symbolizes former President Roh Moo-hyun, thousands of mourners gathered in his rural hometown Thursday to commemorate the 10th year since his death. A stream of mourners from all across the country visited Bongha Village in Gimhae, some 450 kilometers southeast of Seoul, from early in the morning to pay tribute to Roh.

Seoul's short-term foreign debt ratio hits 5-year high in Q1

South Korea's short-term foreign debt hit a 5-year high in the first quarter of the year, although its overall debt level remained flat, the finance ministry said Thursday. The country's total external debt stood at US$440.6 billion in the first quarter, unchanged from a quarter earlier, according to the ministry. The country's short-term external debt -- with a maturity of one year or less -- totaled $129.4 billion as of the end of March, a gain of $2.9 billion from a quarter earlier.

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

Top Diplomats of S. Korea, Japan Discuss Tokyo's Forced Wartime Labor

The top diplomats of South Korea and Japan discussed the rulings by Seoul's top court ordering Japanese companies to compensate Korean victims of Tokyo's forced wartime labor. In a meeting on Thursday held on the sidelines of an international conference in Paris, Japanese Foreign Minister Taro Kono expressed discontent over a Seoul official's remarks criticizing Japanese firms' inaction in compensating the victims.

Hydrogen Tank Explosion Kills 2 in Gangneung

A hydrogen tank explosion killed two people and left six injured in the eastern city of Gangneung. According to fire authorities, three hydrogen tanks blew up at 6:22 p.m. on Thursday at Gangwon Technopark, a factory-type venture complex in Gangneung, 240 kilometers east of Seoul. Authorities suspect the explosion took place during a test run of the three tanks. One of the three was completely destroyed in the explosion while the other two were severely damaged.

Inter-Korean Civic Groups Meet in China After N. Korea's Abrupt Cancellation

Civic groups of South and North Korea held a meeting in China and shared concerns over a serious deadlock in inter-Korean relations. The South Korean Committee for Implementation of the June 15 Joint Declaration said ten officials from the committee met with representatives of its North Korean and overseas counterparts for working-level talks in Shenyang on Thursday. The committee said the participants voiced concerns over the deadlock in cross-border relations and shared the assessment that inter-Korean relations are at a crossroads.

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

Seoul urges Tokyo to accept WTO's ruling on Fukushima seafood ban

South Korea's trade minister has urged Japan to accept the World Trade Organization's (WTO) decision that upheld Seoul's import restrictions on Japanese seafood following the 2011 Fukushima nuclear disaster, Seoul's trade ministry said Friday. During an informal trade ministerial gathering at the WTO held in France earlier this week, South Korean Trade Minister Yoo Myung-hee said the final verdict from the organization's appellate body should be respected, according to the ministry.

Pentagon chief to visit S. Korea next month

Acting U.S. Defense Secretary Patrick Shanahan plans to visit South Korea next month as part of a four-nation trip to Asia, officials said Friday.Shanahan, whom U.S. President Donald Trump intends to nominate as his defense secretary, will embark on a trip Tuesday "to visit Hawaii, Jakarta, Singapore, Seoul and Tokyo," the U.S. Department of Defense said in a release. The ministry did not specify the exact dates of his visits to each destination, but he is likely to tour the countries in the same sequence stated in the release, according to Seoul officials.

Prosecutors seek arrest warrant for Samsung BioLogics CEO in accounting scandal

Prosecutors on Wednesday sought an arrest warrant for Samsung BioLogics CEO Kim Tae-han as part of their probe into allegations of accounting fraud at the company. Kim is suspected of ordering its employees to destroy evidence related to alleged fraudulent accounting, the Seoul Central District Prosecutors' Office said. They also sought warrants to arrest two Samsung Electronics Co. vice presidents on similar allegations.

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

Moon lauds Bush’s visit as strong Korea-US alliance

South Korean President Moon Jae-in on Thursday said former US President George W. Bush’s attendance at a memorial service to commemorate the late South Korean President Roh Moo-hyun reflects strong alliance between the two countries.“Thank you for attending the official ceremony to mark the 10th anniversary of former President Roh. I believe (former) President Bush’s attendance to commemorate Roh, who was a partner in the Korea-US alliance, is symbolic of the strong alliance,” he said.

‘Competition laws should be more flexible in digital era’The South Korean antitrust watchdog will be more flexible in enforcing competition laws with the emergence of new services and products in the digital era, its chief said following a meeting with large companies Thursday. Fair Trade Commission Chairman Kim Sang-jo held a closed-door policy meeting with top executives from 15 companies, including Hanjin, CJ, Kumho Asiana, Kolon, OCI and Kakao -- the nation’s largest companies ranking from 11th to 34th by assets.

US closely watching for N. Korea’s possible financial sanction violations

US Treasury Secretary Steven Mnuchin said President Donald Trump has firm willingness to implement sanctions against North Korea, in another signal that the country will not pursue sanctions relief in order to resume nuclear talks.“The president is determined that we continue our efforts to enforce both the UN sanctions and the US sanctions against North Korea,” he said at the US House Committee on Financial Services on Tuesday.

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

Pompeo: Huawei not truthful about ties with China's government

The United States and China hardened their stands over Huawei Thursday as Washington brushed aside claims of "bullying" and accused the Chinese tech giant of misrepresenting its ties to the Beijing government. The world's top two economies stepped up their rhetoric following President Donald Trump's decision to blacklist the smartphone and telecom firm over worries that Beijing uses it as a tool for espionage. US Secretary of State Mike Pompeo claimed in an interview that Huawei is not truthful about its relationship with China's government and that this means any data touched by the company is "at risk" of falling into the wrong hands.

Seoul urges Tokyo to accept WTO's ruling on Fukushima seafood ban

Pentagon chief to visit South Korea next month

Acting U.S. Defense Secretary Patrick Shanahan plans to visit South Korea next month as part of a four-nation trip to Asia, officials said Friday. Shanahan, whom U.S. President Donald Trump intends to nominate as his defense secretary, will embark on a trip Tuesday "to visit Hawaii, Jakarta, Singapore, Seoul and Tokyo," the U.S. Department of Defense said in a release. The ministry did not specify the exact dates of his visits to each destination, but he is likely to tour the countries in the same sequence stated in the release, according to Seoul officials.

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

U.S. War on Huawei Puts Korea in a Bind

Korea is under increasing U.S. pressure to take sides in Washington's war against China's Huawei. The government has so far expressed reluctance to intervene in the affairs of private Korean businesses that want to use Huawei equipment, but insiders warn that Seoul will find it difficult to sit on the fence much longer as U.S. President Donald Trump tries to bully captive allies into submission. Japan and Australia have already joined the boycott. But Korea would stand to face massive reprisals from China if it does. China now accounts for a bigger proportion of Korea's exports than the U.S., EU and Japan combined, buying around US$142.1 billion worth of products from Korea in 2017, or 24.8 percent of the country's total exports.

Household Debt Growth Slows to Lowest in 14 Years

Household debt growth slowed to the lowest level in 14 years thanks to tough government measures to curb loans and raise taxes on real estate to deter speculators from borrowing money for new homes. Market insiders said the slowdown is good news but also voiced concerns that the cooling real estate market and consequent decline in construction investment could pose headaches down the road.

State Think Tank Slashes Korea's Growth Outlook

The state-run Korea Development Institute on Wednesday slashed its growth forecast for Korea from 2.6 to 2.4 percent, hard on the heels of similar moves by the OECD, Moody's and the Bank of Korea. Korea is now expected to post its worst economic performance since 2012, when the economy grew 2.3 percent due to the eurozone fiscal crisis. Some foreign economic research institutes have forecast Korea's growth to slow to below two percent this year.

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

10 years after Roh’s death, we need to continue fighting to honor his legacy

Ten years have passed since countless Koreans mourned the devastating news of the death of former South Korean President Roh Moo-hyun on Saturday morning, May 23, 2009. At the end of his presidency, Roh had boarded a train bound for his hometown of Bongha Village, South Gyeongsang Province, determined to revitalize the area. But a muckraking investigation by prosecutors drove Roh to end his life. In his suicide note, he urged his supporters not to feel sorry for what he described as his destiny.

The social and political obstacles to ratifying ILO fundamental conventions

One of the obstacles blocking South Korea’s ratification of fundamental conventions of the International Labour Organization (ILO) has been removed. While the government previously maintained that the conventions should not be ratified until the issue of revising related legislation had been resolved through social dialogue, on May 22 it pivoted to simultaneously moving forward with ratification and legislation. That shift ends the debate about what will come first – ratification or the revision of related legislation. But groups representing organized labor and employers disagree sharply about potential revisions, and pushing those revisions through the National Assembly is not likely to be easy.

Samsung inflated value of Cheil industries by presenting it as being involved in “new bio project”

Samsung inflated the corporate value of Cheil Industries by around 3 trillion won (US$2.52 billion) ahead of a 2015 merger with Samsung C&T by presenting it as being involved in a “new bio project using Everland flora and fauna,” it has been learned. In terms of appraised value, the amount was larger than the 1.8 trillion won (US$1.51 billion) in unabsorbed call option liabilities at Samsung BioLogics (Samsung Bio), which is currently under investigation by prosecutors. The two cases alone had Cheil Industries’ value overestimated by some 4.8 trillion won (US$4.02 billion). The merger was structured in such a way that the Samsung Electronics chairman’s control increased with Cheil Industries’ estimated value.

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

‘S. Korea-U.S. policy towards N. Korea becomes unpredictable,’ says a U.S. report

The Congressional Research Service (CRS), a political advisory institution for the U.S. Congress, raised a concerned voice, saying that the policy collaboration between South Korea and the U.S. towards North Korea is becoming more and more unpredictable. The report titled “South Korea: Background and U.S. Relations” published on Monday by CRS said, “After several years of close coordination, notably on North Korea, collaboration between the United States and South Korea has become more inconsistent and unpredictable under the administrations of Donald Trump and Moon Jae-in.”

Hanwha Q Cells remains No. 1 in U.K. PV module market

Hanwha Q Cells in South Korea has maintained the largest market share in the U.K.’s photovoltaics (PV) module market for two consecutive years. According to the statistics released on Thursday by EuPD Research, a highly specialized European research firm, the South Korean company has kept its No. 1 position with the market share of 13.6 percent in the U.K., which is up 3.8 percentage points from the previous year.

Trump to make three-day state visit to Japan from Saturday

U.S. President Donald Trump will make a three-day trip to Japan from May 25 that will be the first state visit by a foreign leader to Japan since Emperor Naruhito was crowned on May US President Donald Trump will visit Japan on August 25-28. It is the first state after the era of "Reiwa" was held as the day of the Emperor Naruhito. President Trump will hold a meeting with Japanese Prime Minister Shinzo Abe on golf and sumo walks, embarking on a maritime escort for the Self-Defense Forces, and attending a dinner hosted by the King. Prime Minister Abe, who blatantly "passing" South Korea, has peculiar pro-diplomatic diplomacy, raising concerns that the United States may be hard-pressed on Japan's allegations on the issue of Korea-Japan relations.

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

OECD Forecasts South Korean Economy to Grow by 2.4% This Year

The Organization for Economic Cooperation and Development (OECD) lowered its growth forecast of the South Korean economy to 2.4%, a 0.2% drop from its forecast in March. It cited the decrease in exports, including semiconductors, due to the decline in international trade, and the weak growth in manufacturing, a core industry, as the grounds for the latest adjustment. The OECD also predicted the South Korean economy to grow 2.5% next year, 0.1% lower than the previous forecast.

Display of Two Unreleased Pictures of Yu Gwan-sun During Her Days at Ewha Haktang

On May 21, Ewha Womans University released two photos of the independence activist Yu Gwan-sun (1902-1920) during her days at Ewha Haktang in commemoration of the 133th anniversary of the school's foundation. The pictures were discovered in the photo albums, Ewha in the Past, housed in the Ewha Archives. Ewha in the Past consists of 89 albums, which contain pictures of the school from 1886, when Ewha Haktang was founded to the 1960s. The first eight volumes hold pictures of the founding days of Ewha Haktang to the days of Ewha College before national liberation in 1945. The pictures of Yu were discovered in volumes one and four.

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

Korean, Chinese biz leaders seek ways to strengthen ties at Shenzhen Forum

More than 300 business leaders from South Korean and China gathered at the China Greater Bay Forum hosted by Maekyung Media Group on Wednesday in Shenzhen, China, to explore ways to deepen their ties to nurture new growth engine.“Shenzhen that has grown from a small fishing village to a city with per capita income exceeding $20,000 in 40 years is now a model for an innovative economy,” said Maekyung Media Group Chairman Chang Dae-whan in his opening speech. “We need to focus on the city’s deregulation and entrepreneurship support measures.”

South Korean SMEs call for freeze in minimum wage next year

More than half of small- and medium-sized enterprises (SMEs) in South Korea are calling for a freeze in the country’s minimum wage next year following the steep hikes in the last two years, which have added woes to their business already grappling with dismal economic conditions, data showed Thursday. According to a survey conducted by Korea Federation of SMEs on 600 enterprises on their opinions on the rising pace of the country’s minimum wage in 2020, 69 percent said the rate should freeze next year.

Bain Capital invests $320 mn in CJ Foods America

South Korean food giant CJ CheilJedang Corp. said Thursday that U.S. private equity fund Bain Capital has invested $320 million to acquire a 27 percent stake in its wholly-owned U.S. subsidiary CJ Foods America Corp., which holds a 70 percent stake in U.S. frozen food firm Schwan’s Co. With the latest deal, Bain Capital would obtain a 19 percent stake in Schwan’s and CJ 51 percent. Market observers say the backing from one of the world’s largest global investment firms is likely to add weight to CJ’s efforts to become a global food name. The latest investment was reportedly made under more relaxed terms than comparable deals, reflecting CJ’s high growth potential.

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Many suspect Moon is being had, cry out, “Wake up, Mr. President!”

‘Chairman Kim, please do President Moon a favor who really means to help you!’

By Lee Sam-sun, Political Editor

No one in the Republic of Korea (south) or any other countries of the world will deny the enthusiastic effort of President Moon Jae-in to keep peace on the Korean peninsula and in this effort he has been trying to do everything he can.
The majority of people in the South want peace. However, they are not sure if Chairman Kim Jong Un of North Korea will really give up his nuclear weapons or his long- and short-range missiles that can carry atomic bombs to the targets he has in mind—in Seoul or the West Coast of the United States. And it is presumed that such worries are also shared by the leaders of the U.S. and other allies of the ROK such as Japan and many other countries of the Free World. At this juncture, an interesting article by Columnist Kim Dae-choong of the popular Korean-language daily was published in Seoul. He wrote in his column of Chosun Ilbo on May 21, 2019 that he had a number of questions for President Moon who is making an all-out effort to ‘keep and promote peace on the Korean peninsula with North Korea.’
Excerpts from the Chosun Ilbo column article follow:

There is one thing I would like to ask President Moon Jae-in who is obviously lopsidedly engrossed in ‘peace’ with North Korea. Our question is: “What ground does President Moon have to be so sure that North Korea will not invade South Korea?”
What promise or guarantee would President Moon have obtained from Chairman Kim of North Korea sufficient to ‘disarm’ the ROK, and plant the false image of ‘peace on the Korean peninsula’ in the minds of the people in the South?
President Moon has never given any answer, not even once, to such question that the people have. What President Moon has done and shown to us so far is his meeting with Chairman Kim of the North several times and his visit to the U.S. a few times enthusiastically performing the role of what looked like a spokesman for Chairman Kim and for the United States. What the people in the ROK want to know is not so much a superficial answer but a practical guarantee that North Korea will not try to invade the ROK to absorb the South.
To help the people in the South have trust in their security, there are at least two things that must be done.
One of them is what President Moon and his government should do.
Guarantee of peace does not come from hunches or feelings. There must be accurate and reliable information and also the judgment must be sound.
What guarantees peace is sufficient national security ability. The Moon government fails to give the people such an assurance or belief.
President Moon might have received some kind of an assurance from Chairman Kim of North Korea. However, if President Moon does not disclose it because it is secret, such a ‘promise’ of which the people in the South are ignorant has no meaning or effect.
Another question is for Chairman Kim of North Korea.
Chairman Kim has not spoken a word of ‘peace’ with the South. Chairman Kim has made no promise or assurance in his own naked voice for peaceful coexistence or co-prosperity with the South. The people in South Korea have to make big compromises to Chairman Kim. Before doing this, we need at least Chairman Kim’s public promise or assurances. This is common sense.
The world remembers the folly on the part of the then Prime Minister Neville Chamberlain of Britain who, shortly before the World War II, made a promise with Adolf Hitler of Germany, and declared peace.
Today on the Korean peninsula, we do not even have such a promise, even a false one, from the North Korean side. And in this situation, lopsided-sided, one-way peace moves are being made unilaterally by President Moon of South Korea.
Frankly, if Chairman Kim of North Korea would only make clear in his own voice to the world as well as to the North Korean people that he wants peace with the South, I would say that the South would be ready to offer the North economic assistance and cooperation in spite of the fact that the North has nuclear weapons.
In disregard of this situation, President Moon is condemning the worried and suspecting people in the South as an ‘anti-peace group.’
At a Presidential Senior Secretaries’ meeting on April 1, 2019, President Moon said, “There are people attempting to drive a wedge in the alliance between the ROK and the U.S. and thereby to reverse the peaceful flow of the river. Any attempt to return to the era of conflict and confrontation in opposition against the effort of dialogue among the ROK, N.K. and the U.S. runs counter to the national interests of the ROK and also the Korean peninsula.”
It is the government of President Moon that is driving a wedge and widening the gaps in the coordination and collaboration between the ROK and the U.S. through undisclosed negotiations. President Trump, too, does not appear to be very free from this blame.
There are people who are not very happy with the effort for promoting dialogue among the ROK, N.K. and the U.S. Such people do not share the general feelings of the Korean people.
National defense is a ‘one-percent game.’ We invest in national defense against one-percent possibility of a war. We make such an investment because war takes away the lives of the people and their properties—to speak nothing of the very existence of the state.
For the leader of a country, there is nothing more important than to protect the lives and properties of his people. A President must not attempt to gamble the lives and properties of the people--banking on ambiguous faith.
However, it appears that the Moon government does not have a contingency plan if anything should happen. The government is obviously on the path of disarming the Republic of Korea under the pretext that “we are following the path of peace.”
War and peace are like the two sides of a coin. The war and peace are means and they cannot be an objective. In the past under the rule of the authoritarian regimes, they, at all times, cried, “War is coming!”
They used the warning of an imminent war in order to rule the country keeping the people in a state of fear.
Under the leftist government, in contrast, ‘peace’ is used. The leftist government frees the people from tensions and fear of war and keeps them in a state of relaxation. It is only natural for the people to be attracted to peace. The people like peace, but the leader of a country must be prepared against war. It is the mission of the leader, which one might even consider to be fate.
Chairman Kim of North Korea has recently mentioned two things which attracted the attention of people in the ROK.
One was his administrative policy speech, where he declared, “No matter what challenges or difficulties I might face, I will never concede to compromise the basic interests of the people.” The other is the statement he recently made at the missile launching site, where he declared, “We must bear in mind the philosophical principle that only when we have strength and power will we have the guarantee of true peace and safety.”
That statement should have come from President Moon Jae-in of the Republic of Korea and not from Chairman Kim Jong Un of the North. It is the statement which President Moon should have made instead of ‘voluntarily’ disarming South Korea to prepare his country to face and successfully control and manage the state of confrontation with North Korea.
The statement of Chairman Kim is convincing and must be considered a wise-saying which President Moon must follow instead of seeking a one-sided voluntary disarmament. President Moon must stop classifying the people in the South ‘anti-peace forces’ when they do not agree with his peace policies.

Editor’s note: The foregoing translation is an unofficial one and in the event of discrepancy or dispute over the accuracy of translation, one favored by the original author prevails.

Lee Kyung-sik edt@koreapost.com