Headlines, September 4, 2019

This is EXTRA to today’s Headlines.

Your Excellency:

Time is running out, and the wonderful Tour of the Pyeongchang County, home of the hero of the famed novel, When the Buckwheat Blossoms Bloom, is only FOUR days away!
In memory of the Tour, Mayor Wang-ki Han of the County, presents each Excellency with a prestigious Plaque of Citation as shown below:

Which reads:

Plaque of Citation

H.E. So and So
Ambassador of the Republic of Such Such Country
Seoul, the Republic of Korea

This Citation is presented to the Honoree above mentioned in recognition of the unreserved interest and effort made in the promotion of relations, friendship and cooperation between Korea and the country represented by the recipient by attending the 2019 Pyeongchang Buckwheat Festival on September 9, 2019.
Attendance at the Festival by the Honoree will greatly contribute to the enhancement of the understanding of the Korean literature and culture by the countries diplomatically represented in Korea.

Monday September 9, 2019

Mr. Wang-ki Han
The Honorable Mayor _________________
The Pyeongchang County, Gangwon Province

Mr. Lee Kyung-sik
Publisher-Chairman ___________________
The Korea Post media

Why pass up the wonderful opportunity to learn the wondrous features of ‘Real Korea’?
Please notify your last-minute participation to directly to Chairman Lee Kyung-sik at 010-5201-1740 or edt@koreapost.com or pub@koreapost.com.

Very Respectfully Yours

/s/

Lee Kyung-sik
Publisher-Chairman
The Korea Post media

P.S.: I sincerely apologize to the Excellency or Excellencies who might receive the above invitation after their transmission of decline as this is a transmission on the basis of an unnamed list

Wednesday, September 4, 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.

Korea's foreign currency reserves slightly down in Aug.

South Korea's foreign currency reserves slightly dwindled from a month earlier in August largely due to the strengthening of the U.S. dollar, which led to a dip in the dollar value of other foreign currencies held by the country, the central bank said Wednesday. The country's foreign currency reserves came to US$401.48 billion as of the end of last month, down $1.63 billion from a month before, according to the Bank of Korea (BOK). The amount marks the world's 9th largest.

U.S. says it respects S. Korea's decision to expedite return of bases

The United States respects South Korea's decision to seek an early return of more than two dozen American military bases in the country and will work with its ally to get the bases returned "as expeditiously as possible," U.S. Forces Korea said Tuesday. South Korea's presidential office Cheong Wa Dae announced the decision last week, saying the move is in line with the relocation of all U.S. bases to Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul. "We are aware of the ROK government's decision to expedite the return process of U.S. installations announced on Friday (August 30)," the USFK said in a statement sent to Yonhap News Agency, referring to South Korea by its official name, the Republic of Korea.

Moon asks for parliamentary confirmation hearing report on justice minister nominee

President Moon Jae-in on Tuesday asked the National Assembly to send a confirmation hearing report on a justice minister nominee facing corruption allegations involving his family, moving a step closer to appointing him. While on overseas trips, the president requested parliament to send the hearing report on the nominee, Cho Kuk, to the presidential office Cheong Wa Dae by Friday, according to Yoon Do-han, senior presidential secretary for public communication.----------------------------------------------------------------------------------------------------

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

Samsung Begins Replacing Japanese Materials in Chip Production

Samsung Electronics has begun replacing Japanese-made high-tech materials with domestic alternatives in its production of semiconductors. A Samsung official said on Tuesday that the company has recently injected supplies other than Japanese etching gas imports in certain manufacturing processes, adding it will steadily expand the use of other supplies to replace Japanese imports. The partial replacement comes some two months after Japan implemented tougher restrictions on South Korea-bound shipments of three key materials -- resists, etching gas and fluorinated polyimide -- that are critical to the production of semiconductors and display panels.

NYT: N. Korea's Short-range Missiles Pose Threat to US Troops in S. Korea, Japan

The New York Times said on Monday that North Korea's short-range missiles pose a direct threat to U.S. troops stationed in South Korea and Japan. Citing data from the California-based James Martin Center for Nonproliferation Studies, the U.S. daily said rapid improvements in the North's short-range missiles not only put Japan and South Korea in increased danger, but also threaten at least eight American bases in those countries housing more than 30-thousand troops.

S. Korea's FX Reserves Fall to One-Year Low in August

South Korea's foreign currency reserves fell to a one-year low last month due to strengthening of the U.S. dollar. According to the Bank of Korea on Wednesday, the total value of the country's foreign exchange reserves came to 401-point-48 billion dollars as of the end of August, down one-point-63 billion dollars from a month earlier. That's the lowest since last year, when it marked 401-point-13 billion dollars in August 2018.

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

Moon asks for parliamentary confirmation hearing report on justice minister nominee

S. Korea, Myanmar reach summit deal to boost economic ties

South Korea and Myanmar agreed Tuesday to open a new chapter in their relations by ramping up partnerships in the economy, culture and development. The accord came at talks here between the leaders of the two countries -- President Moon Jae-in and State Counsellor Aung San Suu Kyi. Moon was on a state visit to Myanmar, which Aung San Suu Kyi described as a milestone in friendly, cooperative bilateral ties. Summarizing the results of the summit, Moon said the two sides struck a deal on "concrete" ways for a "future of prosperity."

U.S. says it respects S. Korea's decision to expedite return of bases

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

President Moon to request Cho Kuk’s Assembly hearing report amid conflict

South Korean President Moon Jae-in has asked the National Assembly to resend its hearing report for embattled Justice Minister nominee Cho Kuk by the end of this week, a top presidential aide said Tuesday. The request comes in the face of the opposition bloc’s vehement objection to Cho, which has only deepened since his unprecedented press conference Monday. “President Moon Jae-in has requested the National Assembly to resend the confirmation hearing reports on six nominees including Justice Minister nominee Cho Kuk. The president requested the reports to be sent by the Friday,” Yoon Do-han, senior secretary for public communication, said.

China, North Korea vow close consultation on Korean Peninsula issues

The foreign ministers of North Korea and China agreed to consult closely on Korean Peninsula issues during a bilateral meeting in Pyongyang, amid stalled denuclearization talks with the US. Chinese State Councilor and Minister of Foreign Affairs Wang Yi met with North Korean Foreign Minister Ri Yong-ho following his arrival in Pyongyang on Monday for a three-day visit. Marking the 70th anniversary of the establishment of diplomatic relations between China and North Korea, Wang and Ri said the allies have opened a new era of relations with strengthened ties and cooperation.

Policymakers deny deflation despite negative consumer price growth

Inflation in South Korea hit a record low of zero percent in August, with prices remaining unchanged from a year earlier, government data showed Tuesday. According to Statistics Korea, inflation in August recorded precisely minus 0.038 percent growth from a year earlier, dipping below zero for the first time since the government started to tally such data in 1966. While the reading was mostly attributed to on-year price falls for agricultural and petroleum products, fiscal and monetary policymakers strived to dispel mounting worries about deflation.

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

Chinese rivals cash in on LG, SK feud

Chinese electric vehicle (EV) battery makers are stepping up efforts to win more orders from global carmakers taking advantage of the legal battle between Korea's LG Chem and SK Innovation over patent infringement, according to industry officials, Tuesday. They said the battery makers' competition to win deals from automakers has been intensifying, and the Korean rivals' "game of chicken" will end up benefiting others such as China's BYD, CATL and Japan's Panasonic. According to multiple overseas news reports, world No. 3 battery maker BYD is close to a supply deal with Audi to provide batteries for its upscale EVs, expected to hit the market in 2021.

S. Korea, Myanmar agree to enhance relations

President Moon Jae-in agreed with Aung San Suu Kyi, Myanmar's current de facto leader, Tuesday, to make joint efforts to enhance economic and trade cooperation. At the invitation of Myanmar President Win Myint, Moon arrived here in the morning as part of his six-day visit to Thailand, Myanmar and Laos. Moon is the third Korean president to visit Myanmar since 1983, when then President Chun Doo-hwan avoided an assassination attempt there by North Korea. President Lee Myung-bak also visited the country in 2012.

Scion's drug scandal endangers CJ's succession plan

The drug scandal surrounding CJ Group Chairman Lee Jay-hyun's son is jeopardizing the retail giant's plan to give him enough of a stake in the company to take over management, according to industry officials, Tuesday. They said the National Pension Service (NPS) is the No. 2 shareholder of the group's holding firm CJ Corporation, and the pension fund may oppose the junior Lee's appointment as a CJ Group board member as it did in other cases of misbehavior by chaebol owner family members.

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

Korea to Become World's Oldest Society in 2045

Korea is forecast to have the highest proportion of senior citizens in the world in 2045, while its economically productive population will fall to the lowest place in the world in 2055. Statistics Korea compiled UN demographic data and its own estimates to arrive at the projection. If current trends continue, the proportion of senior citizens over 65 in Korea will rise from 14.9 percent this year or 51st place in the world to 37 percent in 2045 to surpass Japan and become No. 1 in the world.

Justice Minister Nominee Denies Everything in Volatile Press Conference

Justice minister nominee Cho Kuk denied all allegations against him in a snowballing scandal at an impromptu press conference Monday that he called at the National Assembly. The main opposition Liberty Korea Party in turn abandoned demands for Cho's family members appear as witnesses in any confirmation hearing he may yet brazen out. Cho claimed he was "unaware" of the irregularities surrounding his daughter's university admissions, scholarships and inclusion at a teenager among the lead authors of a medical research paper when she was just a two-week intern. He also claimed no knowledge of any irregularities involving a capital fund owned by his wealthy family.

Most Users Watch TV on Their Smartphones

Six out of 10 smartphone users use their phones to watch TV. The Korea Communications Commission polled 4,000 smartphone users, 2,000 computer users and 3,000 households with video on demand-enabled TVs. Some 59.95 percent said they watch TV on their mobile phones, but only 26.2 percent watch on their computers. Meanwhile, the most watched program on demand was costume romance "Mr. Sunshine" aired on cable channel tvN last year.

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

Public opinion canvassing for removing Japan from white list ends on Sept. 3

The amended notice appears set to enter effect in around two weeks, barring the Japanese government’s agreement to dialogue with Seoul or other signs of a more progressive stance. Companies that export strategic items and technology to Japan are now having to gird themselves for the intensified export review regulations. “The legislation announcement period ends tomorrow [Sept. 3] for the Public Notice on Trade of Strategic Items,” said Park Ki-young, spokesperson for the Ministry of Trade, Industry, and Energy (MOTIE), in a regular briefing on Sept. 3 at the Sejong Government Complex.

Chinese foreign minister visits Pyongyang

Chinese Foreign Minister Wang Yi, who also serves on China’s State Council, paid a visit to Pyongyang on Sept. 2. While announcing Wang’s arrival in the North Korean capital on Monday, Korean Central Television reported that officials from North Korea’s Foreign Ministry and from the Chinese Embassy in Pyongyang had greeted Wang at Pyongyang International Airport. There is speculation about whether Wang’s visit to North Korea, which comes shortly before the 70th anniversary of China and North Korea’s establishment of diplomatic relations on Oct. 6, prefigures North Korean leader Kim Jong-un’s fifth visit to China. If Kim visits China next month for a meeting with Chinese President Xi Jinping, it could have an impact on North Korea-US dialogue and other aspects of Korean Peninsula affairs.

Another chaebol heir caught smuggling liquid marijuana into South Korea

Lee Sun-ho, a 29-year-old manager at CJ CheilJedang, was recently caught trying to bring liquid marijuana into South Korea. Lee is the eldest son of CJ Group Chairman Lee Jae-hyun and a great-grandson of Samsung founder Lee Byung-chul, as well as the presumed heir of the CJ Group fortune. Lee Sun-ho’s arrest is the latest in a string of drug-related crimes by the youngest generation of families that control Korea’s chaebols, stirring up a scandal and turning public opinion against the chaebols. Through such repeated behavior, the chaebol leaders are effectively destroying the public trust they’ve long enjoyed, observers say.

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

Bullet and threatening letter sent to S. Korean embassy in Tokyo

According to the South Korean embassy on Tuesday, a mail containing a bullet and a letter was delivered to the embassy last Tuesday. The mail was addressed to former South Korean Ambassador to Japan Lee Su-hoon and there was no information regarding whom it was from. “I’ve got rifles and I’m hunting Koreans,” read the letter, according to an official of the embassy. The letter also said Koreans should leave Japan. “The letter wasn’t very coherent, but its gist was that the letter writer was targeting Koreans,” said the official.

Pres. Moon requests report on Cho Kuk’s hearing by Friday

South Korean President Moon Jae-in, who is on a tour to visit three Southeast Asian countries, made a request against on Tuesday to the National Assembly to deliver a report on personnel hearing on Justice Minister nominee Cho Kuk by Friday. Regardless of whether a hearing will be held or not and whether a report will be accepted or not, the president may appoint the nominee from Saturday midnight.

Rangers’ Choo Shin-soo hits 21st homer Monday

Texas Rangers’ outfielder Choo Shin-soo is on his way to set a personal record for home runs, by hitting a homer in 15 days. In a match against the New York Yankees held in New York on Monday (local time), Choo had two hits and one run in his five at-bats, helping his team beat the Yankees 7:0. Choo’s batting average for the season has risen to 0.264. he Rangers outfielder hit a double off Yankees starter Masahiro Tanaka on the top of the third inning, when the Rangers was leading the game 1:0. The South Korean outfielder hit a homer leading off the ninth to end the game. It was his 21st homer in 13 games since his last one against the Minnesota Twins on August 19.

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

"There Was No Such Thing" "I Didn't Know" The Concluding Press Conference of Cho Kuk Unfinished

Justice minister nominee Cho Kuk (54) stepped onto a confirmation stage at the National Assembly on September 2. It was not a confirmation hearing, but a press conference seeking the confirmation of the people. It was a confirmation in the form of a press conference, because of a National Assembly neglecting its role to keep the presidential right to appoint senior officials in check and to verify the qualifications of nominees for senior office. Cho tried to explain the allegations and controversy that had been raised, but he repeatedly answered, "I didn't know," and "The investigation will uncover the truth." For this reason, the press conference failed to sufficiently reveal his policies and qualities as a justice minister. The ruling party argued, "It was an inevitable forum because the opposition party made it impossible to hold the confirmation hearing," while the opposition party attacked the conference as "a unilateral forum for excuses with no legal grounds."

Hong Kong 'Civil Human Rights Front' Yan Ho Lai, "If There Is No Political Reform, the Demonstrations Must Continue Through Generations"

In Hong Kong, you cannot ask, "Are you going to the demonstration?" because taking part in a rally has become illegal. "Last night, I dreamt of participating in the demonstration." This is how they express their intention to take part in a rally. This is the reality of Hong Kong citizens. The anecdote was introduced by Yan Ho Lai (31), a member and former convenor of Civil Human Rights Front, the civic group leading the Hong Kong protests.

Concerns over N.K. and the U.S. Blaming Each Other for the Deadlock

North Korea and the United States have been engaging in a battle of nerves over the working-level talks to resolve the North Korean nuclear issue for two months. On August 31, Choe Son-hui, North Korea's first vice foreign minister released a statement and said, "Our expectations for talks with the U.S. are fading away, and we are being pushed into a situation where we will have to reconsider all of our actions so far." On August 30 (local time), the U.S. Treasury imposed sanctions on two Taiwanese and three Taiwanese and Hong Kong shipping companies for their connection to illegal transshipment of North Korean refined oil products. The reality seems quite different from the prospect that the working-level talks between North Korea and the U.S. would begin as soon as the South Korea-U.S. joint military exercises ended.

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

Korea faces first-ever deflation as CPI hits sub-zero in Aug

In an alarming symptom of an economy headed for recession, South Korea’s inflation touched an unprecedented level of zero growth amid softening in volatile food and gas prices coupled with protracted stagnation in consumer demand. The country’s benchmark consumer price index (CPI) in August was 104.81, down 0.038 percent from a year ago, according to Statistics Korea. It is the first time the country has experienced sub-zero inflation since data was available from 1965.

S. Korea’s Yanolja to acquire local luxury hotel booking rival Dailyhotel

Yanolja Co., South Korea’s leading accommodation booking site operator, will acquire Dailyhotel, the country’s largest booking platform for luxury hotels and restaurants, as part of efforts to further diversify its business portfolio to transform into a comprehensive leisure platform provider. According to multiple sources from the accommodation industry on Tuesday, Yanolja has recently decided to buy its local rival Daily Co., the operator of Dailyhotel app that offers reservation services for five-star hotels and fine-dining restaurants at home and abroad. Both parties have agreed not to disclose the deal value for now.

Korea’s beer import from Japan plunges 95% in August from July following export curbs

South Korean imports of Japanese beer plunged 95 percent in August from July after Japan slammed curbs on high-tech material exports bound for Korea, pushing out Japanese brands that dominated the beer shelves in Korea to a pitiful 13th place. According to preliminary data released by Korea Customs Service, Korea imported $223,000 worth of Japanese beer in August, down whopping 97 percent from $7.57 million in the same month a year ago. Imports also plunged 94.8 percent when compared to $4.34 million in July, the month consumers began to shunning Japanese produces after Tokyo slapped restriction on three key materials needed for chip and display production if they are head for Korea due to dispute over past issues.

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Lee Kyung-sik edt@koreapost.com