Tuesday June 2, 2020
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
“Yes, if he turns more toward the right wring after a Constitutional revision”
There are signs showing the possibility that President Moon Jae-in might have now turned his attention to take ‘better care’ of the Korean business world, which many Koreans have somewhat viewed with a sense of reservation.
President Moon, himself hailing from a common family, has been viewed as being somewhat inclined to have a ‘proletarian’ tendency.
UAE resumes economic activity, reopens gyms, cinemas, free movement
The UAE has taken another step to resume economic activity by reopening gyms, cinemas, and increasing free movement in Dubai from May 28. Restrictions will remain in place from 11 PM to 6 AM to continue the National Disinfection Program.
A new UAE-developed rapid COVID-19 laser test is showing promising results, with 85 to 90 percent accuracy. The test, which could enable more affordable mass tasting, is currently undergoing trials to further establish its effectiveness.
Special notice : The Korea Post is organizing a tour for the Ambassadors and Madams to the Pyeongkang Oriental Medicine Hospital on Tuesday June 9, 2010. Ambassadors and Madams are cordially invited to the Tour where an Oriental medicine pack against COVID-19 is presented to each Excellency. In the event of absence of Invitation, please advise the Editor at The Korea Post at 010-5201-1740.
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KBS (http://world.kbs.co.kr/english/news/)
Finance Minister: 3rd Extra Budget will Surpass 30 Tln Won
Finance Minister Hong Nam-ki said this year's third supplementary budget is likely to surpass 30 trillion won.
Appearing on KBS on Monday, the minister said that the planned budget will surpass the previous record of 28-point-four trillion won, which demonstrates the willingness by finance authorities to tackle the economic fallout of the COVID-19 pandemic.
Moon Accepts Trump's Invitation to G7 Summit
President Moon Jae-in has accepted U.S. President Donald Trump's invitation to a Group of Seven summit slated for September, saying that South Korea will play a global role in both quarantine measures and the economy.
Presidential spokesperson Kang Min-seok said that President Moon made the remarks during a 15-minute phone talk with Trump on Monday evening.
Pompeo: Sanctions Never Perfect in Enforcement
U.S. Secretary of State Mike Pompeo has reaffirmed the U.S. commitment to thorough enforcement of sanctions against North Korea and other countries.
According to a transcript of Pompeo's remarks released by the State Department on Monday, the U.S. top diplomat mentioned North Korea when answering a question about sanctions against Iran and Venezuela.
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The Korea Herald (http://www.koreaherald.com)
‘Single-largest extra budget’ sought to deal with COVID-19 fallout
South Korea’s government and ruling party on Monday vowed to effectuate “the single-largest supplementary budget ever” within this month to head off the economic fallout of the COVID-19 pandemic.
Seeking synergy with the upcoming “mega budget,” the country also rolled out its economic policy road map for the second half of the year, including its own version of the “New Deal” package.
S. Korea’s exports fail to recover in May
South Korea’s exports continued to fall in May, marking a double-digit percentage decline for the second consecutive month, according to a government report on Monday.
The extended decline was largely due to the global economic fallout from the coronavirus pandemic, the ministry explained. Shipments of semiconductor products, however, bounced back, which alleviated the extended decline, it added.
S. Korea tries out QR registration for coronavirus tracing
A weeklong trial run of QR registration of visitors will take place from Monday through Sunday at three cities in South Korea, to be introduced nationwide A weeklong trial run of QR registration of visitors will take place from Monday through Sunday at three cities in South Korea, to be introduced nationwide starting June 10 amid renewing outbreaks.
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Korea Times (http://www.koreatimes.co.kr)
Korea to focus on digital, green initiatives to boost economy
The government said Monday that it will invest 76 trillion won ($61.9 billion) by 2025 to strengthen digitization, eco-friendly growth and social safety nets, in a sweeping move to reinvigorate the economy hit by the COVID-19 pandemic.
The Ministry of Economy and Finance announced a series of economic directives for the latter half of 2020, aimed mostly at bolstering investment, consumption and exports, coupled with ways to protect low wage earners who are most vulnerable to economic meltdowns.
Moon accepts Trump's invitation to G7 summit
South Korean President Moon Jae-in on Monday accepted U.S. President Donald Trump's invitation to a G7 summit slated for later this year, reaffirming Seoul's commitment to playing a global role in the fields of quarantine and the economy, according to Cheong Wa Dae.
In their 15-minute telephone conversation, Trump said G7's outdated system does not represent the current international security situation. He said the U.S., host of this year's G7 summit, is seeking to expand the forum to G11 or G12, Cheong Wa Dae spokesman Kang Min-seok said.
Coupang's 'secretive stance' overshadows Nasdaq bid
Coupang's response to the coronavirus outbreaks at its logistics centers is raising doubts on the e-commerce giant's bid to secure a spot on the Nasdaq, as the company was apparently being "secretive" on managing a serious risk, something that could preclude its listing.
Coupang closed its logistics centers in Bucheon and Goyang, both in Gyeonggi Province, after 111 workers were confirmed to have tested positive for COVID-19 at the two locations. The Bucheon center reported its first case, May 23, and the Goyang center, May 28.
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Chosun Ilbo (http://english.chosun.com)
How to Calm Back-to-School Jitters as Coronavirus Lingers
Children and youngsters are returning to school, but some attend only once or twice a week to maintain social distancing, and jitters remain high as authorities are sending them back if new infections are detected nearby.
Some of the fears are psychological rather than founded in fact. Song Min-jae at Korea University Guro Hospital said, "It's important to tell students that anxiety is a natural response, and that we're not the only ones in the world experiencing these problems."
Internet Trade Leads to Pike in Drug Arrests
A record 16,044 people were arrested on drug-related charges last year, up 27 percent from 2018 according to the Supreme Public Prosecutors' Office on Sunday.
Arrests involving narcotics manufacturers and traffickers also soared 28.3 percent.
The number had been increasing to a historic high of with 14,214 people in 2016 but fell slightly for the next two years.
Korean Air Leadership Wars Far from Over
The battle for control of Korean Air is far from over even though Hanjin Group chairman Cho Won-tae in March fended off an assault from his "nut-rage" sister and her posse of raiders.
But it turns out they are not so easily written off. The posse plans to ask the group's board this week to hold an extraordinary shareholders' meeting in September, where the chairman's foes -- Cho Hyun-ah, Bando Engineering and Construction, and corporate raiders Korea Corporate Governance Improvement -- will again try to appoint three board directors who are loyal to them.
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The Dong-A Ilbo (http://english.donga.com/)
Michael Jordan releases statement on racism and protests
“I am deeply saddened, truly pained and plain angry.” Legendary basketball player Michael Jordan released a statement on the recent death of a black man by a white police officer in Minnesota.
“I stand with those who are calling out the ingrained racism and violence toward people of color in our country. We have had enough,” said Jordan, an owner of NBA basketball team Charlotte Hornets, in a statement on Monday.
Lineage 2M records the highest revenue among apps on Google Play
NCSOFT’s game “Lineage 2M” was the world’s top performing application on Google Play in terms of sales in the first quarter of 2020, according to App Annie, a global app analysis company.
The revenue growth comes from in-app purchases made by South Korean users as Lineage 2M is currently only available in the country. NCSOFT earned 731.1 billion won in sales in the first quarter, 167.8 billion of which went to Google and Apple for distribution.
CHA designates Manseru at Seonunsa Temple as Treasure
The Cultural Heritage Administration (CHA) said on Monday that it has designated Manseru, the largest Buddhist temple pavilion in the country, at Seonunsa Temple in North Jeolla Province as Treasure.
Manseru, which was first built in 1620, was reconstructed in 1752 after it was entirely destroyed by fire. It has a gambrel roof with nine bays on the front and two bays on the sides.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
Samsung Electronics adds NAND flash memory line in Pyeongtaek
South Korea’s chipmaker Samsung Electronics Co. announced it has embarked on construction to add a next-generation fab devoted to NAND flash memory at its chip campus at Pyeongtaek, Gyeonggi Province, to meet demand of big-data technologies.
The world’s largest memory chipmaker said that the cleanroom addition at No. 2 line in Pyeongtaek will begin mass production in the second half of 2021.
Seoul to package 3rd extra budget in more than $20 bn to fight COVID-19
The government and ruling Democratic Party of Korea on Monday agreed to package this year’s third supplementary budget in another record level of over 30 trillion won ($24.4 billion) as the economy is set to see its first contraction this year due to fallout from lengthy virus outbreak.
The third extra budget bill will be submitted to the National Assembly on Thursday.
IPO pipeline picks up life with $782 mn offering by SK Biopharma in June
The initial public offering pipeline from Korea clogged by virus scare has gained life, led by blockbuster SK Biopharmaceuticals and bio or diagnostic kit names that have gained international spotlight from COVID-19 outbreak.
The Korea Exchange announced Sunday a total of 11 companies are planning IPOs with retail subscription due in June, 5.5 times more than a month earlier. Only two made debut on bourses after public subscription in May and zero in April.
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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
AustraliaBrisbaneTime
www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Heraldwww.smh.com.au
Colombia Reports http://www.colombiareports.com
BogotaFree Planet http://www.bogotafreeplanet.com,bfp@bogotafreeplanet.com
El Universal https://www.eluniversal.com.mx/english
Andes https://www.redaktionstest.net/andes-info-ec/
Ecuador Times https://www.ecuadortimes.net/
The Jordan Times https://www.jordantimes.com/
LSM.lv https://www.lsm.lv//
The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais https://english.elpais.com/
Philippine Daily Inquirer https://www.inquirer.net/
Daily News Hungary https://dailynewshungary.com/
Budapest Times https://www.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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