Thursday July 16, 2020
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
National Assembly to host a celebration meeting to mark 72nd Constitution Day
The National Assembly will hold a celebration to mark the 72nd anniversary of the Constitution Day of the Republic of Korea on July 17 at the rotunda hall in the Main Building. This was recently announced by the National Assembly.
The event is expected to be attended by former National Assembly Speakers, and the four highest-ranking officials of the country—the President, National Assembly Speaker, Chief Justice of the Supreme Court, and President of the Constitutional Court. Given that the coronavirus pandemic is still continuing in the country, this year’s ceremony will be held in a simpler and modest manner.
“We will try to help reduce greenhouse gases by 1.19 million tons by 2030 through proper water management”
The Korea Water Resources Development Corp. (KWRDC) headed by President Park Jae-hyun announced at a ceremony at its headquarters in Daejeon its vision for its development as the world's top water comprehensive platform company.http://www.koreapost.com/news/articleView.html?idxno=21202
The KWRDC held a ceremony at its headquarters in Daejeon on July 15 to declare its vision for winning the post of the world's top water comprehensive platform company. Citizens representing the water resources development of the industry and other related areas across the country and invited guests from various other fields attended the event.
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KBS (http://world.kbs.co.kr/english/news/)
BOK Leaves Key Rate Unchanged at 0.5%
The Bank of Korea's monetary policy committee on Thursday decided to keep the nation's key interest rate at the current point-five percent.
The decision follows two major rate reductions. The central bank slashed its benchmark interest rate by half a percentage point to point-75 percent in March before cutting it by a quarter of a percentage point in May.
S. Korea Reports 61 New COVID-19 Cases
South Korea reported 61 new COVID-19 cases as of 12:00 a.m. Thursday, raising the total number of infections to 13-thousand-612.
The central quarantine countermeasures headquarters said domestic infections accounted for 14 of the new cases while 47 of them were imported.
Pompeo: Trump Wants Another N. Korea Summit Only if Real Progress is Possible
U.S. Secretary of State Mike Pompeo said on Wednesday that President Donald Trump would hold another summit with North Korean leader Kim Jong-un only if the two sides are likely to make "real progress."
Pompeo made the remarks during a virtual event hosted by the political website The Hill when asked about the possibility of a summit within this year.
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Yonhap (http://english.yonhapnews.co.kr)
New virus infections spike again to above 60 on surge in imported cases
South Korea's new virus cases bounced back to surpass 60 again on Thursday as imported cases continued to rise amid a slowdown in local infections.
The country added 61 cases, including 47 imported cases, raising the total caseload to 13,612, according to the Korea Centers for Disease Control and Prevention (KCDC).
The tally marked a sharp rise from 39 new cases reported Wednesday and 33 new cases Tuesday.
It is also the second time this week that the daily rise of virus cases went above 60 following 62 new infections reported on Monday.
After six months, pandemic accelerates arrival of contactless future in S. Korea
Six months after the first COVID-19 case was reported in South Korea, social distancing and travel limitations are accelerating the arrival of a technology-powered contactless future in the country.
Looking back, the country's intensive efforts to cut down human contact to contain the pandemic, while keeping business active, have profoundly shifted how business is done across all walks of life. Remote working and learning became the new normal while the contactless lifestyle also promptly seeped into traditionally experience-oriented fronts, such as religion, entertainment or wedding and funeral rituals.
The shift has been most prominent in education.
'Hallyu' tourists spent US$1,007 on average in 2019, BTS most favored: report
Foreigners who traveled to South Korea last year to consume K-pop goods and content were estimated to have spent US$1,007 on average, according to a report Thursday.
In its latest tourism industry analysis report, the state-run Korea Tourism Organization (KTO) estimated that some 1.11 million foreigners came to South Korea in 2019 to specifically consume goods and experiences related to "hallyu," a term referring to the global popularity of Korean pop culture, last year.
On average, $302 was spent on general shopping, $184 on lodging, $155 on food and $138 on hallyu-related spending, according to the KTO report.
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The Korea Times (http://www.koreatimes.co.kr)
Pandemic reshapes labor-management relations
The COVID-19 outbreak is changing previous "stringent" labor-management relations at Korean companies, as unions are increasingly embracing the market logic that job security and employees' welfare come only with a company's survival.
Such recognition is growing especially among unions at domestic carmakers, known for their hardline approach, as they have been hit hard from a collapse in global demand and supply chains in the wake of the pandemic.
S. Korea reports 61 new coronavirus infections
South Korea's new virus cases bounced back to surpass 60 again on Thursday as imported cases continued to rise amid a slowdown in local infections.
The country added 61 cases, including 47 imported cases, raising the total caseload to 13,612, according to the Korea Centers for Disease Control and Prevention (KCDC).
The tally marked a sharp rise from 39 new cases reported Wednesday and 33 new cases Tuesday.
It is also the second time this week that the daily rise of virus cases went above 60 following 62 new infections reported on Monday.
BOK holds key rate steady at 0.5% amid signs of improvement
As widely expected, the Bank of Korea (BOK) kept the policy rate frozen at 0.5 percent Thursday, amid slight signs of an economic recovery from the pandemic-caused slump and growing concerns over soaring property prices.
In a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 17 analysts and experts polled anticipated a rate freeze this month and for the rest of the year.
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HanKyoReh Shinmun (http://english.hani.co.kr)
S. Korea issue statement denouncing Japan’s defense white paper claims to Dokdo
The South Korean government issued a statement criticizing the Japanese government’s “Defense of Japan 2020”, describing its claims that Dokdo is Japanese territory as “unjust and preposterous claims” that is “not at all helpful to South Korea-Japan relations.” The South Korean Ministry of Foreign Affairs (MOFA) and Ministry of National Defense (MND) respectively summoned a minister and military attaché from the Japanese Embassy in Seoul to protest and urge the “immediate withdrawal” of the claims of ownership over Dokdo.
Japan’s 2020 defense white paper says N. Korea has “capability to attack Japan”
Japan’s defense white paper for 2020 states that North Korea “is assessed to have already miniaturized nuclear weapons to fit ballistic missile warheads.”
While Japan’s characterizations of North Korea’s nuclear weapon capabilities have become more strongly worded over past years, this year marks the first mention of it “possessing the capability to attack Japan.”
ASEAN provides investment conditions equal to or more favorable than China’s, study finds
The investment conditions in five ASEAN countries -- Vietnam, Indonesia, Malaysia, Thailand, and the Philippines -- have improved to equal China’s in terms of various economic, policy-based, and societal indicators, a study shows. The ASEAN region has been emerging as a stable production base and alternative investment and production base amid an accelerating shift away from China by companies around the world due to its rising production factor costs and trade conflict with the US.
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Chosun Ilbo (http://english.chosun.com)
Seoul City to Launch Inquiry into Charges Against Late Mayor
The Seoul Metropolitan Government on Wednesday pledged to launch an inquiry into allegations of sexual harassment against Mayor Park Won-soon, who committed suicide last week.
The city government said a committee of civilians and public officials will look into the allegations brought by Park's former secretary.
Opposition lawmakers are calling for prosecutors to investigate, but normally investigations are dropped once the suspect dies. Police have already announced that there is no need to seek an indictment against the mayor since he is dead.
Lockdown Changes Fortunes of Sports-Dependent Businesses
The coronavirus epidemic is causing seismic shifts in the landscape of sports-dependent businesses.
Previously thriving stores around baseball stadiums are suffering as matches take place without spectators, with the commercial areas surrounding stadiums in Seoul as well as Busan, Daejeon and Gwangju hit hard.
Despite emergency relief money handed out by the government to small businesses, stores and restaurants around baseball stadiums are still suffering.
High Box-Office Hopes for 'Train to Busan' Sequel
Yeon Sang-ho's "Peninsula," a sequel to his 2016 zombie flick "Train to Busan," hits theaters on Wednesday.
"Peninsula" is set four years after the first film and tells the story of people struggling to survive in the ruin after the zombies have destroyed the entire country.
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The Dong-A Ilbo (http://english.donga.com/)
U.S. reverses its decision to revoke student visas
The U.S. government has rescinded its policy that would revoke visas of international students whose courses move fully online this fall, providing a relief for about 50,000 Korean students in the United States.
According to The Wall Street Journal on Tuesday, U.S. District Judge Allison Burroughs announced that the U.S. government, Harvard University and the Massachusetts Institute of Technology (MIT) reached an agreement. “Federal immigration authorities agreed to pull the July 6 directive and return to the status quo,” the judge said.
New York Times to relocate part of its Hong Kong office to Seoul
The New York Times announced that it would be relocating its Asia Digital News Department from Hong Kong to Seoul next year. The decision has been made amid concerns that Hong Kong’s National Security Law passed in China would restrict free press activities and undermine journalism.
“Hong Kong has served for decades as the Asian headquarters for English-language news outlets, but the national security law has created uncertainty about the city’s prospects as the hub for journalism in Asia.
Renault Samsung Motors launches facelifted SM6
Renault Samsung Motors has launched “The New SM6,” a facelift model of the company’s premium midsize sedan SM6, four years after the introduction of SM6 in 2016.
The New SM6 is equipped with TCe 300 and TCe 260 engines. TCe 300 is also used in the auto manufacturer’s high-performance brand Apline and Renault RS models, showcasing a maximum torque of 30.6 kilogram-meters and 225 horsepower. TCe 260, which was jointly developed by Group Renault and Daimler AG, is a four-cylinder 1.3-turbo direct injection gasoline engine, featuring a maximum torque of 26.5 kilogram-meters and 156 horsepower. The model’s gasoline mileage is 13.6 kilometers per liter for 16 or 17-inch tires, which is one of the best among South Korean gasoline midsize sedans, according to the manufacturer.
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The KyungHyang Shinmun (http://english.khan.co.kr/)
Before the Sexual Assault Report Was Filed, Park Won-soon Knew
When the sexual assault report was filed on July 8, Park Won-soon, the former mayor of Seoul was aware of the fact and reportedly held a meeting to discuss a response with senior Seoul officials. This is contrary to the explanation by the city of Seoul, which claimed that they found out about the report through press coverage on July 9, when the mayor was missing.
Minimum Wage Pushed Aside: The Paradox of a Moon Government Seeking Income-Driven Growth
Next year’s minimum wage has been set at 1.5% higher than this year’s minimum wage, the lowest increase since the minimum wage was introduced in 1988. The latest increase is small even compared to the rate at the time of the Asian financial crisis in 1998, when the economy recorded a minus 5.1% growth. Back then, the country still managed to raise the minimum wage by 2.7%.
On July 14, the Minimum Wage Commission announced that it had set next year’s hourly minimum wage at 8,720 won, 130 won higher than this year’s wage. The increased amount, not to mention the rate, is the second smallest in the 21st century following the increase at the time of the global financial crisis in 2010 (110 won).
“I Sought Protection from a Just Law in the Face of Immense Power”
A, an official at the Seoul metropolitan government who reported the late Seoul Mayor Park Won-soon for sexual assault, held a press conference on July 13 disclosing details of the allegations against the former mayor. Through her legal representative, A said, “I wanted to be protected by a fair and equal law in the face of immense power. I wanted a personal apology (from Mayor Park).” She also offered her condolences on the death of the mayor. This was the first time that the victim spoke of the allegations against the former mayor to the press.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
BOK keeps rate steady at 0.5% amid concerns about asset bubble from lush liquidity
South Korea’s central bank paused in its monetary easing after two cuts over the past six months that placed the policy rate at a historic low of 0.5 percent.
The Bank of Korea in the monetary policy meeting on Thursday kept the benchmark rate steady at 0.5 percent after the last cut of a quarter percentage point in May that brought the base rate to a fresh historic low in the face of recession dangers from virus fallouts.
NYT to move part of Hong Kong office to Seoul due to new national security law
The New York Times announced Tuesday (local time) it would relocate its digital news operation in Hong Kong to Seoul, the capital city of South Korea, facing challenges at a time of new era under “tightened Chinese rule.”
The digital news operation with one third of the entire Hong Kong office staff is expected to move to Seoul next year.
“A sweeping national security law passed by China in June – aimed at stymieing opposition and pro-democracy forces in Hong Kong – has unsettled news organizations and created uncertainty about the city’s prospects as a hub for journalism in Asia,” said The Times.
Foreigners return to Korean stock market on vaccine hopes and New Deal boon
Foreigners look poised to snap their five-month net selling streak of South Korean stocks, turning into net buyers this week on renewed optimism from promising COVID-19 vaccine results and Korea`s massive New Deal initiative.
The benchmark Kospi closed Wednesday at 2,201.88, nearing the pre-pandemic high of 2,267.25 on Jan. 22. The index was slightly lower at 2,187.10 by midday Thursday.
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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 Herald www.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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