Headlines, June 14, 2019

The Korean daily media headlines and humor

Friday June 14, 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.

Moon to address Swedish parliament on denuclearization, peace

South Korean President Moon Jae-in will deliver another major speech on the Korea peace process Friday on a visit to Stockholm, his office said. In the Parliament House address with the theme of "The denuclearization of the Korean Peninsula and trust for peace," Moon plans to emphasize the need for North Korea to abandon its nuclear program.

3 remain missing in Hungary boat sinking after another body confirmed to be S. Korean

A body found in a river south of Budapest was confirmed to be a South Korean missing from last month's deadly sinking of a tour boat that left 26 Koreans dead or missing, Seoul's foreign ministry said Thursday. That brought the total number of Koreans killed in the May 29 sinking to 23, and the number of those missing to three. The latest victim in his 60s was discovered 110 kilometers downstream from the sinking site Wednesday (Budapest time).

Samsung struggles to craft global strategy amid U.S.-China trade war, biz slump

Samsung Electronics Co. has been facing a double whammy of the weak memory chip and smartphone market, as well as uncertainties from a trade war between the United States and China, so it is the right moment for its senior management to discuss ways to deal with the rising business challenges. Starting Thursday through next week, senior executives of the South Korean tech giant are set to gather for biannual global strategy meetings to review performances in the first half and craft plans for the latter half, according to company officials.

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

S. Korea-Norway Vow Enhanced Bilateral Cooperation

South Korea and Norway have agreed to strengthen practical cooperation, including on future ships and hydrogen energy. President Moon Jae-in sat down with Norwegian Prime Minister Erna Solberg in Oslo on Thursday for discussions on how to deepen bilateral ties that mark their 60th anniversary this year.

Body Recovered from Danube Confirmed to be S. Korean

A body recovered from the Danube River on Wednesday has been confirmed to be one of the four South Koreans that were missing from the deadly tourist boat sinking in Hungary two weeks ago. A Foreign Ministry official in Seoul said Thursday that the body, retrieved some 110 kilometers downstream from the accident site, was confirmed to belong to a South Korean man in his 60s who was aboard the boat.

Trump 'In No Rush' to Resume Talks with N. Korea, but Maintains Positive Outlook

"I think we're going to do very well with North Korea over a period of time. I'm in no rush. The sanctions are on. We got our hostages back. Our remains are coming back." Asked about the details of a letter that he claimed to have received from Kim on Monday, Trump said the letter was “unexpected” and repeated his earlier description of it as “very warm, very nice.” He added that the content of the letter would be disclosed at some point, but did not specify when.

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

Moon to address Swedish parliament on denuclearization, peace

3 remain missing in Hungary boat sinking after another body confirmed to be S. Korean

N. Korea launches guidance committee ahead of local elections

North Korea has launched a guidance committee to supervise nationwide local elections to be held next month, Pyongyang's media reported Friday. The Central Election Guidance Committee was organized for the election of deputies to provincial, city and county assemblies, according to the Korean Central News Agency (KCNA).

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

Moon's call for inter-Korean summit in June feeds speculations

President Moon Jae-in on Wednesday expressed hopes on meeting North Korean leader Kim Jong-un in the coming weeks, further fueling speculation surrounding inter-Korean and US-North Korea dialogue. “I am prepared to meet Chairman Kim at any time. In the end, whether we meet, or setting the time of the meeting, is down to Chairman Kim’s choice,” Moon said at the Oslo Forum on Wednesday.

US ready for talks with N. Korea, but not in a hurry

The US State Department said Wednesday that it is ready to hold working-level talks with North Korea on relinquishing its nuclear arsenal after North Korean leader Kim Jong-un sent a letter to US President Donald Trump, the first direct contact between the two leaders in months. During a press briefing, US State Department spokeswoman Morgan Ortagus reaffirmed that the country is seeking to achieve lasting peace and the complete denuclearization of the Korean Peninsula.

Liberty Korea Party pins parliamentary standstill on presidential office

Main opposition Liberty Korea Party on Thursday accused the presidential office of causing the standstill at the National Assembly amid pressure from ruling and minor opposition parties for the conservative party to cooperate to open the June extraordinary session. “How can we resume the parliament when Cheong Wa Dae is ruining (cooperation), ridiculing and pressuring the main opposition?” said Liberty Korea Party floor leader Rep. Na Kyung-won in an urgent debate on the supplementary budget.

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

Moon hopes for early summit with North Korean leader

A senior presidential aide said Thursday that discussions are underway with officials from Pyongyang regarding another inter-Korean summit, before U.S. President Donald Trump's planned meeting with President Moon Jae-in, June 30. "It's evident that the U.S. president didn't rule out the possibility of another meeting between President Moon and North Korean leader Kim Jong-un ahead of his planned visit here at the end of June. President Moon earlier raised this idea at his April summit with Trump in Washington. South Korea and the U.S. are united on that idea," the official told reporters in a briefing.

9th Ballet Festival Korea presents beauty of ballet to Korean audiences

Ballet Festival Korea 2019 will kick off its nearly-two-week program at the Seoul Arts Center in southern Seoul, June 18. Marking the ninth installment of the annual festival that began in 2011, this year's program has gathered 13 ballet troupes for 14 performances, providing a good blending between classic and contemporary pieces. "The program was carefully chosen, considering both popular appeal and artistic significance," Park In-ja, the festival's organizing committee chairwoman, said during a press conference held earlier this month. "Anyone, from ballet novices to aficionados, can enjoy the festival."

Renault Samsung labor union surrenders to management

The Renault Samsung union has ended up surrendering to management in its year-long battle over wages and other working conditions, withdrawing a strike threat and accepting the company's demands, according to industry analysts Thursday. They said the union had to give in because many of its members were "tired of" its leaders' hardline approach, while concern is mounting over the survival of the company amid production losses and plunging sales.

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

Moon, Abe to Hold 'Informal' Meeting at G20 Summit

Japan plans to arrange an informal "pull-aside" between Prime Minister Shinzo Abe and Korean President Moon Jae-in during the G20 summit in Osaka later this month, diplomatic sources said Wednesday. The two sides are not on speaking terms but are grudgingly caving in to pressure from the U.S., which worries that icy relations between its chief allies could harm its interest in Northeast Asia.

U.S., N.Korea Seem to Keep Behind-the-Scenes Channels Open

North Korean leader Kim Jong-un's latest letter to U.S. President Donald Trump was apparently sent through a direct channel between the adversaries rather than using South Korea as a mailman. This suggests that U.S.-North Korea talks have been going on behind the scenes despite the collapse of their summit in Hanoi in February.

U.S. Lawmaker Dismisses Kaesong Manufacturers' Pleas

A senior U.S. congressman on Tuesday told Korean manufacturers that the joint-Korean Kaesong Industrial Complex can reopen only once there is progress on the North Korean denuclearization. Brad Sherman, the chairman of the Asia-Pacific Subcommittee at the House of Representatives, was speaking in a meeting with South Korean manufacturers in Washington.

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

Moon proposes practical peace process for Korean Peninsula during Oslo Forum

South Korean President Moon Jae-in, who is currently visiting Norway as a guest of the state, shared his “Oslo vision” on June 12, describing a scenario in which South and North Koreans experience and share peace that can be achieved at the present time rather than after denuclearization or reunification of the Korean Peninsula, with that peace serving as a driving force for denuclearization and overcoming the peninsula’s current division. Moon’s remarks came during a keynote speech at the Oslo Forum at the University of Oslo that day, which marked the one-year anniversary of the first North Korea-US summit in Singapore.

N. Korea sends condolence wreath and message to honor Lee Hee-ho

North Korean leader Kim Jong-un chose to respond to the death of Lee Hee-ho, chair of the Kim Dae-jung Peace Center, by having his sister Kim Yo-jong, first vice director of the Workers’ Party of Korea (WPK), deliver a sympathy floral wreath and a message of condolence. This disappointed some observers, who’d hoped for the kind of high-level sympathy delegation that was sent to South Korea after the death of former South Korean president Kim Dae-jung, Lee’s husband, on Aug. 18, 2009, and the death of Chung Ju-young, founder of the Hyundai Group, on Mar. 21, 2001. Others are more generous in their assessments, arguing that Kim Jong-un did his best to show respect by selecting Kim Yo-jong, his own flesh and blood and his de facto chief of staff, to personally deliver the wreath and message. While that’s not enough to create a breakthrough in the ongoing deadlock in inter-Korean relations, neither is it the kind of silence or apathy that could have cast a pall on relations. This can be regarded as a compromise that Kim settled on after considerable thought.

Kim Jong-un sends Trump personal letter on 1st anniversary of Singapore summit

US President Donald Trump revealed on June 11 that North Korean leader Kim Jong-un had sent him a personal letter around the one-year anniversary of their summit in Singapore on June 12, 2018. This indicates that the two leaders’ trust and commitment to dialogue continues even after their second summit in Hanoi in late February ended without yielding results. Coming ahead of a scheduled South Korea-US summit later this month, the news has observers watching to see if a way out of the current North Korea-US impasse can be found. Responding to questions from reporters at the White House on the possibility of him meeting with Kim during his South Korea visit later this month, Trump said he had “just received a beautiful letter from Kim Jong-un.”

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

U.S. and allies ask U.N. to halt refined oil supply to N. Korea

The United States and its allies, including South Korea, have asked the United Nations Security Council (UNSC) to stop supplying additional refined oil to North Korea, accusing Pyongyang of breaching a U.N. sanctions cap on refined petroleum mainly through illicit transfers between ships at sea. According to U.N. sources on Wednesday (local time), 26 countries, including the U.S. and South Korea, asked the UNSC sanctions committee to demand an immediate halt to deliveries of refined petroleum to North Korea.

Hyundai Motor Group accelerates self-driving technology development

Hyundai Motor Group said Thursday it will make strategic investment in U.S. self-driving car startup Aurora Innovation. Following a mutual cooperation agreement between the two companies last year, the investment is expected to accelerate the development of more advanced autonomous driving technology. The South Korean automotive group said that it will investment in Aurora and strengthen their cooperation in developing self-driving technology through Aurora’s proprietary system. The two companies did not specify the value of the investment, however.

Cassini spacecraft’s last observation of Saturn’s rings

Twenty-one months have passed since NASA's Cassini-Huygens spacecraft to study Saturn and its system made its fateful plunge into Saturn’s atmosphere on September 15, 2017. During its last several months, the spacecraft focused on observing Saturn’s trademark rings. The results of the Cassini spacecraft’s final and closest observation of Saturn’s rings and the movements of its satellites were published on journal Science on Thursday (local time). The study revealed the detailed structure and the surface of Saturn.

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

North Korean Leader Kim Jong-un, "Lee Hee-ho Made a Valuable Contribution to Inter-Korean Relations"

On June 12, North Korean leader Kim Jong-un said, "Upon the sad news of the death of Ms. Lee Hee-ho, wife of former president Kim Dae-jung, I express my deepest condolences to her family." In a letter of condolences delivered by Kim's sister, Kim Yo-jong, first deputy director of propaganda and agitation, the North Korean leader wrote, "The devotion and efforts shown by Ms. Lee and former President Kim for the reconciliation and unity of our people, and for the peace and reunification of our nation despite all the pains and struggles they endured, have become a valuable contribution in the current development of inter-Korean relations, which is heading toward reunification and peace and prosperity." He further wrote, "Our people will never forget that."

Lee Ju-yeol Mentions "Appropriate Response to the Changing Situation." Will the BOK Lower the Base Interest Rate?

Just last month, the Bank of Korea stated, "no interest rate cuts," but the central bank is changing its position, all thanks to the slowing global economy, due to issues like the worsening trade dispute between the United States and China. The central banks of major countries, such as Australia have already lowered their base rate, and the U.S. Federal Reserve hinted at the possibility of base rate cuts next month. The economy recorded a negative 0.4% growth compared to the previous quarter, which has led the market to expect an interest rate cut. However, there are also concerns that a lower interest rate could stimulate the asset market, including real estate.

The Tragedy on the Danube Emerges: Where Are the Four Missing Victims?

The tour boat Hableany, which sank in the Danube River in Budapest, Hungary with 35 passengers including South Korean tourists on board, was salvaged and emerged above the water on June 11 (local time), thirteen days after the accident. A total of four bodies including the body of a six-year-old girl were recovered from the hull. The Hungarian Counter Terrorism Center (TEK), which is overseeing the accident, began to salvage the riverboat at the site where it sank, near the Margaret Bridge, at 6:47 a.m. on June 11. The large crane, Clark Adam, standing by at the site of the accident, began pulling the wires fixed to the hull. Twenty-six minutes later, the wheelhouse located at the top of the hull began to appear.

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

SKC buys world’s No.1 battery copper foil maker KCFT

SKC Co., chemical and tech material producing unit of South Korean conglomerate SK Group, will buy the country’s leading battery copper foil and flexible copper clad laminate (FCCL) maker KCF Technologies Co. (KCFT) for 1.2 trillion won ($1.1 billion). SKC in a disclosure on Thursday said its board decided to buy a full stake in the homegrown copper foil and FCCL maker KCFT at 1.2 trillion won from U.S.-based investment firm Kohlberg Kravis Roberts (KKR) & Co. The two parties signed on the stock purchasing agreement, the company said.

LG Chem to set up JV with China’s Geely to produce EV batteries

In addition to bulking up stand-alone electric vehicle batteries in China, South Korea’s LG Chem Ltd. will build a joint-venture factory with China’s top automotive group Geely for sure protection ahead of the 2021 phase-out in government subsidies expected to level the field for foreign and local players in the world’s largest EV market. LG Chem announced Thursday that it signed an agreement to set up a 50-50 joint venture with Geely at Geely’s research center in Zhejiang Province on Wednesday (local time). The two companies will invest 103.4 billion won ($87.2 million) each to build a facility capable of producing 10-gigawatt hours (GWh) worth of EV battery packs annually by the end of 2021.

Korean Air heiress comeback to management upsets shareholders, employees

Hanjin Group heiress Cho Hyun-min’s sneak back to management has upset shareholders and employees as the company struggles to restore credibility of Korea’s flag carrier against the never-ending scandals of the owner family members. Cho Hyun-min, the youngest daughter who had shamed her late father Hanjin Group Chairman Cho Yang-ho as well as the corporate name, was reinstated Monday as senior vice president at Hanjin Kal Corp., the group’s holding entity, after nearly a year in corporate exile following a series of exposures about her fiery temper and ill treatment of employees and business associates.

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Lee Kyung-sik edt@koreapost.com