Thursday July 30, 2020
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
Daewoo leader’s motto: “The World is wide open, there are lots of work to do!”
“The world is wide open and there are lots of work to do!”
This is the famous declaration made by the late Founder-Chairman Kim Woo-choong of the Daewoo Business Group in Korea which was the second-largest conglomerate in Korea.
There is a famous episode about Chairman Kim. He started a business with only 5 million Won at the age of 31, and, in the next 30 years, he developed Daewoo into Korea’s second-largest business conglomerate with an annual turnover of 71 trillion won with 41 affiliate companies and 396 overseas corporates in all parts of the world.
“Trade between our two countries is expected to double in the near future”
Ambassador Silvestre Kouassi Bile of the Republic of Cote d”Ivoire in Seoul said, “The volume of trade between Cote d’Ivoire and Korea nearly doubled from US$120 million in 2012 to US$230 million in 2015.”
In a recent interview with The Korea Post media, publisher of 3 English and 2 Korean-language news publications, Ambassador Bile then predicted, “The outlook is good, and we believe bilateral trade will continue to grow over the years to come and we hope to double this volume in the near future.”
----------------------------------------------------------------------------------------
KBS (http://world.kbs.co.kr/english/news/)
Heavy Rain Warnings Issued for Daejeon, Sejong
Heavy downpour is pounding the central region on Thursday, with heavy rain alerts issued for parts of Chungcheong Province.
Heavy rain warnings are in place for Sejong, Daejeon, Cheonan, Asan, Gyeryong and Nonsan in South Chungcheong Province, while heavy rain advisories have been issued for nine cities and counties in the province.
A flood alert has been issued for the Gapcheon stream in Daejeon City.
US to Withdraw 12,000 Troops from Germany in 'Strategic' Move
The United States is set to withdraw nearly 12-thousand troops from Germany in what it calls a "strategic" repositioning.
U.S. Defense Secretary Mark Esper announced on Wednesday that the Pentagon will be sending home about 64-hundred of its military personnel in Germany, and move nearly 56-hundred to other NATO countries, including Italy and Belgium.
Esper said the move will cut the presence of U.S. military personnel in Germany to around 24-thousand from 36-thousand.
S. Korea, US Extend Currency Swap Deal by 6 Months
South Korea and the United States have agreed to extend a 60-billion-dollar currency swap agreement by six months.
The Bank of Korea(BOK) said on Thursday the BOK and the U.S. Federal Reserve have agreed to extend the bilateral currency swap deal, initially set to end on September 30, through March 31 of next year.
The two sides signed the deal in March to help stabilize financial market jitters caused by the COVID-19 pandemic.
----------------------------------------------------------------------------------------
Yonhap (http://english.yonhapnews.co.kr)
Samsung delivers robust Q2 results on strong chip biz, one-off gains
Samsung Electronics Co. on Thursday reported strong second-quarter earnings on the back of robust chip demand and one-off gains from its display unit.
Its net profit stood at 5.55 trillion won (US$4.7 billion) in the April-June period, up 7.23 percent from a year earlier, the world's largest memory chipmaker said in a regulatory filing.
Its operating profit jumped 23.5 percent on-year to 8.15 trillion won in the second quarter of the year, but sales fell 5.6 percent on-year to 52.97 trillion won over the cited period.
New virus cases bounce back to over 40 on surge in imported cases
The number of new daily coronavirus in South Korea bounced back to above 40 Wednesday as both imported cases and local transmissions climbed up.
The country added 48 cases, including 34 imported cases, raising the total caseload to 14,251, according to the Korea Centers for Disease Control and Prevention (KCDC).
The tally marked a sharp increase from 25 new virus cases reported Monday and 28 cases Tuesday.
WTO sets up panel to look into Seoul-Tokyo trade row
The World Trade Organization's dispute settlement body on Wednesday decided to set up a panel to look into South Korea's complaint against Japan's export restrictions, a month after the decision was put off due to Tokyo's opposition.
Under the WTO rules, an investigation panel can be set up unless there is unanimous opposition from all members.
In June, South Korea reopened the WTO complaint over Japan's export curbs on key industrial materials, as Tokyo remained unresponsive to Seoul's call for the removal of the export restrictions it imposed one year ago.
---------------------------------------------------------------------------------------
HanKyoReh Shinmun (http://english.hani.co.kr)
How realistic is relocating Korea’s capital from Seoul to Sejong?
On July 20, when public anger over the failure of the South Korean government’s real estate policy was boiling over, Kim Tae-nyeon, floor leader of the ruling Democratic Party, abruptly suggested that the National Assembly and the Blue House both be moved from Seoul to Sejong City.
Since then, Kim’s proposal has continued to gain momentum: even some members of the opposition party agree it’s time to talk about moving Korea’s administrative capital. A poll of 1,200 South Koreans aged 18 and above that was carried out by Ipsos at SBS’ request on July 27 found the general public to support the idea at a ratio of 48.6% to 40.2%.
Democratic Party convenes first meeting of team for relocating capital
The Democratic Party held the first meeting of its “administrative capital completion pursuit team” on July 27 to make preparations for the relocation of South Korea’s administrative capital. In declaring its plans to see through the national agenda of “balanced development of the national territory,” it has said it intends to hold a full range of discussions, up to and including the construction of a second set of “innovation cities” and strategies for development in regions outside the greater Seoul area, or the Seoul Capital Area (SCA). Experts are suggesting that the attempt to relieve overcrowding in the SCA and achieve balanced national development through an administrative capital can only succeed through a combination of local decentralization efforts and a job-linked development strategy.
National Palace Museum’s porcelain exhibit highlights one of Joseon’s first exchanges with the West
In 1888, then French President Marie Francois Sadi Carnot gave Emperor Gojong of the Korean Empire a polychrome-decorated white Salamis vase as a present to commemorate the Korea-France Treaty of 1886. Gojong returned the favor by offering two celadon pieces from the 12th and 13th centuries as well as a gold-plated flower pot ornament, cementing one of Korea’s diplomatic gift exchanges with the West.
---------------------------------------------------------------------------------------
Chosun Ilbo (http://english.chosun.com)
U.S. Lifts Restrictions to S.Korea on Solid-Fuel Rockets
The U.S. has removed all restrictions on South Korea using solid fuel to power rockets, Cheong Wa Dae said Tuesday.
The decision is expected to speed up South Korea's efforts to develop space rockets and bolster military reconnaissance satellites.
Deputy National Security Adviser Kim Hyun-chong told reporters that the limits on the use of solid-fuel rockets have been "completely lifted" in revised missile guidelines agreed by the U.S.
Japan Irate at Statue of Abe Genuflecting to Sex Slave
Japan has formally protested against a sculpture in a privately owned botanical garden in Korea that represents Prime Minister Shinzo Abe prostrating himself in front of a World War II sex slave.
The botanical garden has now canceled the official unveiling of the sculpture scheduled for next month.
After Japanese news media picked up the story on Sunday, Japanese Chief Cabinet Secretary Yoshihide Suga said, "If the reports are accurate, then there would be a decisive impact on Japan-Korea relations." --
Young Jobseekers Aim for International Certifications
A growing number of young jobseekers in Korea are trying to earn globally recognized qualifications to boost their appeal in an increasingly tough job market.
They are flocking to tests like the Cisco Certified Network Professional (CCNP) Routing and Switching certification, which validates expertise on enterprise networks, as well as Adobe photoshop, Amazon Web Service and Oracle courses.
But they do not come cheap. It costs W890,000 just to sign up for the Oracle certification, and there is no guarantee of passing at the first attempt (US$1=W1,200).
---------------------------------------------------------------------------------------
The Dong-A Ilbo (http://english.donga.com/)
‘USFK’s ground warfare capability requirement will be reduced,’ says U.S. report
A defense policy report focused on North Korea and the Korean Peninsula, not China, predicting a reduction in the ground warfare capability requirement of the United States Forces Korea (USFK) has been published. As the report came about during the time when the U.S. Department of Defense is planning to examine the redeployment of U.S. troops in the Indo-Pacific region, it is garnering attention on how the new report will affect related policies.
Samsung Electronics shares rise by foreign investors’ massive buying
Samsung Electronics shares have risen over 9% for the last four trading days, raising the likelihood of a rebound to the 60,000-won mark. The uptrend appears to have resulted from the tech company’s improved performance, escalating tensions between the U.S. and China, and Intel’s plan to outsource chip manufacturing, all of which led to a massive buying by foreign investors.
KCDC Director Jung Eun-kyung takes first leave in 186 days
Director Jung Eun-kyung of the Korea Centers for Disease Control and Prevention spent two days of rest taking leave for the first time in 186 days, ever since the outbreak of COVID-19. According to the KCDC, the Ministry of Personnel Management announced guidelines on summer leave for government workers, encouraging them to spread out personal leave. In spite of this measure,
---------------------------------------------------------------------------------------
The KyungHyang Shinmun (http://english.khan.co.kr/)
2020 Report on Climate Change in South Korea: The Korean Peninsula, Now a Hot Peninsula
The heatwave, which currently lasts 10.1 days a year, will increase more than three-fold to 35.5 days. The fatalities due to heat-related disorders among senior citizens and the socio-economically vulnerable will increase. Due to rising temperatures, infectious diseases transmitted by animals will occur more frequently. The temperature of the seawater and the sea level will continue to rise. The risk of flooding due to localized torrential downpour will increase, but at the same time, damages from drought will also intensify.
South Korea Can Now Use Solid Fuel for Space Launch Vehicles, A Step Toward Self-Reliant National Defense
A path has opened for South Korea to use solid fuel, more efficient than liquid fuel, in developing and possessing space launch vehicles. South Korea and the United States have revised the missile guideline, lifting the restriction on the use of solid fuel for space rockets. Thus the South Korean military can launch reconnaissance satellites and collect military intelligence. This is expected to accelerate the nation’s efforts to strengthen self-reliance in national defense as well as the transition of wartime operational control (OPCON), promoted by the Moon Jae-in government.
North Korean Defector Returned North Through a Drain in Ganghwado. Police Slow to Investigate Despite Tip
On July 27, military authorities announced that Kim, the North Korean defector who recently returned North, is likely to have swam North through a drain in Ganghwado. Authorities also confirmed that Kim lied outside the state management system for North Korean defectors. This triggered criticism of the military’s vigilance posture and the police’s management of North Korean defectors.
Colonel Kim Jun-rak, director of public relations at the Joint Chiefs of Staff said, “We specified an area in Ganghwado where we believe the person in question crossed into North Korea,” and added, “We confirmed an abandoned bag and we are currently conducting a close investigation.”
----------------------------------------------------------------------------------------
Maeil Business News Korea (http://www.pulsenews.co.kr/)
IIAC mulling airport tax hike to cover massive loss from COVID-19
Incheon International Airport Corp. (IIAC) is considering a hike in passenger service charge (PSC), known as airport tax, and send employees on leave of absence as it is projected to post its first annual loss in 17 years this year due to a plunge in air travel amid virus pandemic.
According to internal documents obtained by Yoo Gyeong-joon, a United Future Party lawmaker part of the strategy and finance committee at the National Assembly, on Wednesday, IIAC is expected to report a net loss of 324.4 billion won ($272 million) for full 2020 on sales of 1.2 trillion won, down 55 percent from 2019. It would be the first time for South Korea’s main gateway operator to log loss in 17 years.
Housing prices defy govt measures, outlook at near all-time high
Housing price posed the sole upside on the outlook for the Korean economy, according to the latest consumer sentiment survey as housing and rent prices continue upward spiral regardless of bombardment of taxes and regulations to underscore market defiance to public policy on real estate.
S. Korea laggard in the race to bring COVID-19 vaccine to market
Despite a thumbs-up mention from Microsoft cofounder Bill Gates, COVID-19 vaccine pipeline from South Korea has been laggard while U.S. and Chinese names are getting closer to marketing their products within the year.
Currently, 150 types of COVID-19 vaccines are under development around the world, of which about 20 have entered human clinical trials. Many companies have already entered a late-stage clinical trial under full government support.
----------------------------------------------------------------------------------------
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/
----------------------------------------------------------------------------------------
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.
---------------------------------------------------------------------------------------
What are you waiting for?
Use us!
The Korea Post media are more than eager to be used, and to serve you—with the following five news outlets, 34 years old this year!
Korean-language Internet edition: http://www.koreapost.co.kr
English-language Internet edition: http://www.koreapost.com
Korean-language print newspaper:
http://pdf.koreapost.co.kr/49/4901.pdf
http://pdf.koreapost.co.kr/49/4902.pdf
http://pdf.koreapost.co.kr/49/4903.pdf
http://www.koreapost.co.kr/pdf/list.php?category=&syear=2018&smonth=03&sday=26&hosu=40
English E-daily : http://www.koreapost.com/news/articleView.html?idxno=21250