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Headlines, August 7, 2019

The Korean daily media headlines and humor

Wednesday, August 7, 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.

N. Korean leader says missile launches were 'warning' against allies' joint exercise

North Korean leader Kim Jong-un said this week's missile launches were an "adequate warning" against the joint military exercise between South Korea and the United States that kicked off earlier this week, state media reported Wednesday. On Tuesday, North Korea fired two projectiles believed to be short-range ballistic missiles into the East Sea, the fourth such launch in less than two weeks. They flew about 450 kilometers across the northern part of the Korean Peninsula, according to the Joint Chiefs of Staff (JCS).

S. Korea says it to take action to stem market volatility

South Korea said Tuesday it will take bold steps to stabilize its financial markets in case of increased volatility, signaling Seoul's possible intervention in the foreign exchange market. The move came after the United States designated China as a currency manipulator in an escalating trade war between the world's two biggest economies. South Korea said it will closely monitor the foreign exchange market amid growing uncertainty over the U.S. decision.

Seoul-Tokyo tensions threaten trilateral cooperation with U.S.: CRS report

Trilateral security cooperation between South Korea, the United States and Japan has become more difficult amid rising tensions between the two Asian nations, according to a U.S. congressional report. In its latest report updated Aug. 1, the Congressional Research Service noted that four events since last year have caused South Korea-Japan ties to deteriorate: South Korea's effective termination of an agreement on women forced into wartime sexual slavery, incidents involving Japanese reconnaissance planes and South Korean naval vessels, South Korean court rulings ordering Japanese firms' compensation for forced labor victims, and Japan's adoption of export curbs against South Korea starting in June.

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

Torrential Rains, Strong Winds in Gangwon Province as Typhoon Dissipates

Torrential rains caused by Typhoon Francisco, now weakened to a tropical depression, were observed in South Korea’s eastern Gangwon Province overnight. The Korea Meteorological Administration(KMA) said 190 millimeters of rain was recorded at Mount Seorak in the country's northeast as of 7:00 a.m. Wednesday. Some 165 millimeters and 148 millimeters of rain fell in the Gangwon Province county of Hongcheon and city of Samcheok, respectively.

Bolton: There is ‘Understanding’ that N. Korea Won’t Launch ICBMs

U.S. National Security Adviser John Bolton says President Donald Trump and North Korean leader Kim Jong-un “have an understanding” that Kim won’t launch long-range intercontinental ballistic missiles(ICBMs). Speaking to Fox News on Tuesday, Bolton said Trump is watching the North’s recent series of short-range projectile launches “very carefully.”

U.S. Scraps Visa Waiver for Those Who Visit N. Korea

Visitors to North Korea will no longer be able to apply for a visa waiver program when they visit the U.S. According to the Foreign Ministry on Tuesday, the U.S. government began enforcing the rule this week, retroactively applying it to all foreign passport holders who visited North Korea since March 2011.

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

N. Korea fires two short-range ballistic missiles into East Sea: JCS

North Korea fired two projectiles believed to be short-range ballistic missiles into the East Sea on Tuesday, South Korea's military said, in an apparent show of force against the ongoing joint military exercise between Seoul and Washington. The projectiles were fired at 5:24 a.m. and 5:36 a.m. from North Korea's southwestern county of Kwail in South Hwanghae Province, and both flew around 450 kilometers across the peninsula before splashing into the East Sea, the Joint Chiefs of Staff (JCS) said.

Seoul to take preemptive steps to stabilize markets

South Korea will take swift and bold steps if necessary to help stabilize the financial markets, the country's finance minister said Wednesday, assuring that the country's economic fundamentals remain strong despite what he called "temporary risks." In an emergency meeting with other top financial officials, including the head of the Bank of Korea, Finance Minister Hong Nam-ki said the increased volatility in the market was the result of "short-term risks" that happened to overlap.

S. Korea to consider travel warning for Japan: ministry

South Korea could consider issuing a travel advisory for Japan if necessary to ensure the safety of its citizens amid an escalating trade and diplomatic row with Tokyo, the foreign ministry said Tuesday. Foreign ministry spokesman Kim In-chul made the remark after a special committee of the ruling Democratic Party said it has asked the ministry to consider discouraging travel to regions in Japan with high risks of radioactive contamination.

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

Kospi dips under 1,900 for first time in 3 years

South Korea’s benchmark Kospi dipped below the 1,900 mark for the first time in three years Tuesday, with risks stemming from the ongoing trade row between Seoul and Tokyo, the intensifying trade war between Washington and Beijing, and Pyongyang’s latest missile launches pushing the market down.

[News Focus] NK missile launches aimed at domestic audience, testing intelligence capabilities of S. Korea, US: experts

After firing two unidentified projectiles that Seoul believes to be short-range ballistic missiles early Tuesday, North Korea issued a statement strongly denouncing South Korea and the United States for their joint military exercise that kicked off the day before. In a statement carried via its news outlets, North Korea’s Foreign Ministry spokesperson poured scorn on the joint military exercise and other military actions taken by the allies, warning such actions would inevitably drive the North to seek a “new way.”

[News Analysis] Markets roiled as US-China spat dwarfs impact of Japan factor

As South Korea’s financial market continued to totter Tuesday after a “Black Monday,” experts observed that the key reason behind the current anxiety is the prolonged US-China trade conflict rather than the escalating feud with Japan. Tense about the US-China situation and its anticipated leverage in the global financial markets, authorities here vowed to take stabilizing steps in case of increased volatility, signaling a possible intervention in the local foreign exchange market.

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

Samsung, SK racing to cope with Japan fallout

Leaders of Samsung and SK are scrambling to cope with the fallout from the escalating trade row between Seoul and Tokyo, as Japan's export curbs are expected to hurt the groups' cash-cow units, according to industry officials Tuesday. Last Friday, Japan decided to remove Korea from its "whitelist" of countries with preferential trade status.

Seoul vows to step in to curb market volatility

The government has vowed to take stern measures to stabilize the nation's financial market if volatility continues to increase, signaling a possible intervention in the currency market. It also said it has mapped out a contingency plan to curb market unrest, including temporarily suspending "shorting" in the nation's stock market. The government's move followed Washington's decision to designate China as a currency manipulator, Monday, which sent a shudder through both domestic and global financial markets.

Korean, Japanese civic groups to jointly act against Abe

Korean and Japanese civic groups will join forces to urge the Shinzo Abe administration to resolve the issues of wartime forced labor and bilateral tension that have escalated since the Japanese government enacted trade restrictions against Korea. According to a coalition of 18 Korean civic groups, Tuesday, it and a coalition of civic groups from Tokyo will gather in Seoul on Aug. 15, the Liberation Day marking Korea's liberation from Japanese colonial rule, to hold a joint rally.

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

Japan Braces for Long Cold War with Korea

The Japanese government expects icy relations with Korea to continue for some time. "It will be a prolonged war from now on," a senior Japanese Foreign Ministry official was quoted as saying by the Asahi Shimbun on Saturday. The paper added that there is a belief in the Japanese cabinet that giving in to Korea would send the government's approval ratings into tailspin.

S.Koreans Who Visited N.Korea Need Visa to U.S.

Washington said Tuesday that South Koreans who visited North Korea even once after March 1, 2011 will have to apply for a visa before entering the U.S. Normally South Koreans can visit the U.S. visa-free and simply fill in an Electronic Travel Authorization form for short-term visits. But now the U.S. is classifying South Koreans who visited North Korea in the same category as those who traveled to Syria and other Middle East conflict regions.

China Pressures Korea Not to Deploy U.S. Missiles

China and Russia will continue to stage joint maritime and aerial drills near the Korean Peninsula, the Defense Ministry here told the National Assembly on Monday. The Chinese and Russian air forces staged a joint drill over the East Sea on July 23 for the first time in 66 years since the Korean War. One of the Russian warplanes intruded into South Korea's airspace over the Dokdo islets, while two Chinese bombers buzzed Korea's Air Defense Identification Zone without identifying themselves.

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

Moon proposes “peace economy” to fight Japan’s retaliatory trade measures

South Korean President Moon Jae-in proposed a “peace economy” based on inter-Korean economic cooperation on Aug. 5 as a way of responding to Japan’s trade retaliation measures. His message signaled a commitment to stepping up the pace of inter-Korean and North Korea-US dialogue and broadening the economy’s scope rather than capitulating to Japan’s attempt to use economic retaliation as leverage to sabotage reconciliation and peace on the Korean Peninsula.

S. Korean and Japanese civic groups unite in opposition to Abe

Civic groups in South Korea and Japan are joining forces in a united front against Japanese Prime Minister Shinzo Abe as Tokyo’s economic retaliation measures escalate into economic warfare between the two sides. The South Korean civic group Joint Action for Resolution of the Forced Mobilization Issue and Settling Historical Matters plans to hold an “international peace parade” event on Korea’s National Liberation Day, Aug. 15, with a Japanese civic group bearing the same name. The Japanese Joint Action was formed by Japanese civic groups last November after a South Korean Supreme Court ruling ordered Japanese companies to pay compensation to forced labor victims.

Japan snubs S. Korea while embracing ASEAN and Taiwan

While announcing that South Korea would be removed from Japan’s “white list” of trusted trading partners on Aug. 2, Japanese Minister of Economy, Trade, and Industry Hiroshige Seko said, “Taiwan and the member states of ASEAN have been strictly managing their exports thus far, and we also have a close economic relationship with them. As such, I don’t think this will affect our global supply chain.” Seko’s comments strongly emphasize that Japan’s measures won’t harm Taiwan or the ASEAN states (the Association of Southeast Asian Nations). Japan’s strategy of wooing the ASEAN states and Taiwan is noteworthy since it has implications for the most effective response that South Korea can make.

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

N. Korea launches missiles in response to Moons ‘peace economy’ proposal

North Korea launched missiles and threw harsh criticism at South Korea and the U.S. on Tuesday, the day after South Korean President Moon Jae-in emphasized the “peace economy” between the two Koreas as a way to overcome the export regulations by Japan. Pyongyang denounced the U.S.-ROK joint military exercises, which began on Monday, and threatened Seoul to “avoid doing things deserving of beating.”

S. Korea’s current account surplus hits lowest in seven years

South Korea’s current account surplus in the first half of the year hit its lowest level in seven years due to weak export figures amid the prolonged trade spat between the United States and China. The country’s current account surplus was 6.38 billion U.S. dollars in June, a 14.5 percent decline of 1.08 billion dollars from a year earlier, according to the preliminary data released by the Bank of Korea on Tuesday.

Japanese municipalities ask Korean airliners to maintain routes

Japanese municipalities are coming to South Korea to ask for the continuation of route operation. Since Japan imposed export limits on South Korea, the ever-increasing boycott against traveling to Japan has led to reductions in the number of Korean tourists to Japan.

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

Why Is the U.S. Not Actively Mediating the Disputes Between South Korea and Japan?

The economic dispute between South Korea and Japan has entered a "bullet-less war" stage, but the United States, which has an alliance with both countries, is drawing the line on its role and refusing to actively mediate the situation. This comes as a surprise to the South Korean government, which had sought active U.S. intervention.

Taegeukgi Beer, Rose of Sharon Pen: “Patriotic Marketing” Amidst Boycott of Japanese Products

The boycott of Japanese products is intensifying and the retail industry is actively marketing its patriotism ahead of Liberation Day. This year marks the centennial of the March 1 Independence Movement and the establishment of the Provisional Government of the Republic of Korea, and with the recent "economic invasion" by Japan, Liberation Day has provided a spark for patriotic marketing.

[Editorial] U.S. Mentions Deploying Missiles to Asia a Day After Withdrawing from the INF Treaty

On August 3, U.S. Defense Secretary Mark Esper announced U.S. wishes to deploy ground-based medium-range missiles to Asia. Secretary Esper shared such thoughts during his trip to Australia and added that he wanted to see the deployment within “months,” hinting at wishes of early deployment. The New York Times reported that the medium-range missiles were likely to be deployed to Japan or South Korea. The U.S. mentioned the deployment of medium-range missiles to Asia the day after pulling out from the Intermediate-Range Nuclear Forces (INF) treaty, which bans the development and deployment of medium-range missiles. The U.S. is quickly executing its strategy to besiege China. South Korea, which already faces a pile of diplomatic and security issues including disputes with Japan, is forced to remain alert.

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

Jeju Air swings to operating loss in Q2 due to fall in travel demand, weak Korean won

South Korea’s leading budget carrier Jeju Air Co. logged an operating loss of 27.4 billion won ($22.6 million) in the second quarter, slipping into the red for the first time in five years due to falling travel demand amid intensifying competition, as well as the weaker Korean currency.

Samsung Elec chief holds emergency meeting with key execs amid Japan trade woes

The chief of Samsung Electronics rounded up senior executives for another emergency meeting as the world’s largest chipmaker counters multiple whammies from the memory industry downturn to supply chain disruptions from Japanese export curbs.

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What’s ticking around the world at this second?
See what the world media around the world have to report:

USA Today www.usatoday.com aallman@gannett.com
The New York Times www.nytimes.com inytletters@nytimes.com
Wall Street Journal www.wsj.com support@wsj.com, service@wsj-asia.com
Financial Times www.ft.com ean@ft.com
The Times www.thetimes.co.uk help@timesplus.co.uk
The Sun www.thesun.co.uk talkback@the-sun.co.uk
Chinese People's Daily www.people.com.cn kf@people.cn
China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn
GwangmyeongDaily www.gmw.cn webmaster@gmw.cn
Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com
Asahi www.asahi.com customer-support@asahi.com
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de
SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Herald http://www.smh.com.au
Colombia Reports http://colombiareports.com
Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com
El Universal http://www.eluniversal.com.mx/english
Andes http://www.andes.info.ec/en
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
LSM.lv http://www.lsm.lv/en
The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais http://elpais.com/elpais/inenglish.html
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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The Korea Post is running video clips from the different embassies.
Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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Lee Kyung-sik  edt@koreapost.com

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