Headlines, November 18, 2020

Wednesday, November 18, 2020

Round-up of important news from major Korean dailies and from international media today

The Korea Post (http://www.koreapost.com/)
“Men and women have the same rights, duties, benefits, equality”
Madam Maria Jose Zapata Aliaga de Ossio, spouse of Charge d’Affaires Luis Pablo Ossio Bustillos of Bolivia in Seoul, said, “There still exists in the world female gender stereotypes, for which women must fight in order to gain parity, which means that men and women have the same rights, duties, benefits, equality of opportunities in health and education, and the right to be treated with respect in all aspects of ordinary life as well as in their workplace.”

“Newly elected President of Bolivia may invite President Moon to visit Bolivia”
Newly elected President Luis Arce of the Plurinational Sate of Bolivia is expected to invite President Moon Jae-in of the Republic of Korea (south) to visit his country at an early date, or President Arce himself might visit Korea at an opportune time.
This was disclosed at a recent interview with Charge d’Affaires (CDA) Luis Pablo Ossio Bustillos of Bolivia in Seoul which was conducted at the Embassy of Bolivia in Seoul by The Korea Post media, publisher of 3 English and 2 Korean-language news publications for the past since 1985.

Samsung C&T goes into DJSI World Index for four consecutive years
Samsung C&T has been included in the World Index for the fourth consecutive year in this year's evaluation of the Dow Jones Sustainability Indices, the company said on Nov. 16.
DJSI is a sustainable management evaluation index of companies jointly developed by S&P Dow Jones of the U.S., a global financial information provider, and SAM of Switzerland.

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KBS (http://world.kbs.co.kr/english/news/)
S. Korea Reports 313 New COVID-19 Cases
South Korea reported more than 300 COVID-19 cases on Wednesday for the first time in about 80 days.
The Korea Disease Control and Prevention Agency(KDCA) said that 313 new cases were detected throughout Tuesday, raising the country's cumulative total to 29-thousand-311.
Of the new cases, 245 were local infections while 68 were imported.
The daily figure soared by 83 from the previous day and surpassed 300 for the first time since August 29, when it marked 323.

Biegun Agrees on Need to Combine Top-down and Bottom-up Methods
U.S. Deputy Secretary of State Stephen Biegun agreed there is a need to combine the top-down and bottom-up methods in terms of denuclearization talks between the U.S. and North Korea.
A group of ruling Democratic Party(DP) lawmakers visiting the U.S. said Biegun revealed such a stance during discussions held on Tuesday on Korean Peninsula issues and prospects for U.S.-North Korea dialogue.
The group said Biegun’s remarks came after the group’s chief delegate, Song Young-gil, said there is a need for the top-down and bottom-up methods to be in harmony when it comes to dialogue between Washington and Pyongyang.

Hanjin Group Chief Stresses Acquisition Won't Lead to Airfare Hikes
Hanjin Group Chairman Cho Won-tae said there will, by no means, be a hike in airfare prices after Korean Air acquires Asiana Airlines.
Cho made the remark on Tuesday to reporters after attending the 32nd Plenary Meeting of the Korea-U.S. Business Council in Seoul.
While acknowledging that there could be concerns of monopoly, Cho stressed that there will be no decline in customer convenience and no fare hikes.

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Yonhap (http://english.yonhapnews.co.kr)
S. Korea faces another potential virus spike as infections near 3-month high
South Korea's new coronavirus cases hovered above 300 on Wednesday to reach the highest level since late August, setting alarm bells ringing over another potential wave of the pandemic.
The country added 313 more COVID-19 cases, including 245 local infections, raising the total caseload to 29,311, according to the Korea Disease Control and Prevention Agency (KDCA).
The daily figure exceeded 300 for the first time since Aug. 29, with the daily caseload hovering over 200 in the last four days.

Greater Seoul, Gwangju adopt tougher distancing rules amid virus flare-up concerns
Citizens in the greater Seoul area and southern city of Gwangju will be required to follow stricter health regulations in public places and at gatherings under an enhanced social distancing scheme effective from Thursday, as the country is facing another potential flare-up of the new coronavirus.
Social distancing was raised by one notch to Level 1.5 in Seoul and the surrounding Gyeonggi Province, where the average daily cases surpassed 100 in the previous week, the threshold for the second-lowest level of the five-tier scheme.

S. Korean drug firms ink major COVID-19 vaccine, treatment manufacturing deals
A number of major South Korean pharmaceutical companies have recently signed a series of deals to manufacture vaccines and treatment drugs for the novel coronavirus, industry watchers said Wednesday.
Among the front-runners is industry leader Samsung Biologics Co., which successfully inked two contract manufacturing organization (CMO) agreements this year.
Earlier this week, the company also signed a long-term agreement with U.S. pharmaceutical firm Eli Lilly and Company to manufacture a novel coronavirus-neutralizing antibody.

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The Korea Herald (http://www.koreaherald.com)
S. Korea faces another potential virus spike as infections near 3-month high
The daily figure exceeded 300 for the first time since Aug. 29, with the daily caseload hovering over 200 in the last four days.
Cluster infections from private gatherings, public facilities and hospitals continued to occur in several parts of the nation, making it harder for health authorities to pin down potential cases and curb the spread of the virus.
A sports facility, a sauna and a factory in Seoul have each reported more than 10 cases. A facility for the disabled in Cherwon, Gangwon Province, was linked to 17 infections, and a university hospital in Gwangju had 26 more.

Suh, Miller reaffirm efforts to strengthen Korea-US alliance
South Korean Defense Minister Suh Wook and acting US Defense Secretary Christopher Miller spoke by phone and reaffirmed their commitment to the alliance between the two countries, the Pentagon said Tuesday.
Miller also reaffirmed the US commitment to South Korea's defense in his first phone call with Suh since taking office earlier this month after President Donald Trump fired Miller's predecessor, Mark Esper, just a few months before leaving office.

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The Korea Times (http://www.koreatimes.co.kr)
Shinsegae eyes on taking over Hanjin's logistics unit
Local department store franchise Shinsegae is looking to buy Hanjin Group's logistics unit to bolster its delivery service infrastructure to cope with the rapidly growing e-commerce business.
"This is definitely a good chance for Shinsegae to acquire a delivery service firm. There is no reason not to take it when Hanjin wants to sell it as it recapitalizes," an industry source said.
Hanjin Group owner family heiress Cho Hyun-ah, who formed a three-party alliance with local activist private equity fund Korea Corporate Governance Improvement (KCGI) and mid-sized builder Bando Engineering & Construction to oppose Hanjin KAL's takeover of Asiana Airlines, recently argued that the company should focus on disposing of minor business units to increase capital rather than purchase the distressed airline.

New virus cases exceed 300 as infections near 3-month high
South Korea's new coronavirus cases hovered above 300 on Wednesday to reach the highest level since late August, setting alarm bells ringing over another potential wave of the pandemic.
The country added 313 more COVID-19 cases, including 245 local infections, raising the total caseload to 29,311, according to the Korea Disease Control and Prevention Agency (KDCA).
The daily figure exceeded 300 for the first time since Aug. 29, with the daily caseload hovering over 200 in the last four days.
Cluster infections from private gatherings, public facilities and hospitals continued to occur in several parts of the nation, making it harder for health authorities to pin down potential cases and curb the spread of the virus.

Samsung Electronics' stock gets bullish with strengthened won
Samsung Electronics' stock price has been on a strong upward trend this month, after foreign investors turned to net buying. As of Tuesday, the company's share price has increased by 14.4 percent this month alone, reaching a new record high of 66,300 won, Nov. 16. With the strong gains, Samsung Electronics' market cap reached 392.21 trillion won, Tuesday.
Market watchers said that foreign investors' aggressive buying of the shares led the stock's recent rally. They bought the stock for nine straight days from Nov. 5 to Nov. 17, their longest buying streak of the year, buying 1.7 trillion won worth of shares this month, and making them the number one choice for foreign investors.

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HanKyoReh Shinmun (http://english.hani.co.kr)
S. Korea government and KDB planning merger of Korean Air and Asiana Airlines
The South Korean government and the Korea Development Bank (KDB) are planning a merger between Korean Air and Asiana Airlines, which would create a single flag carrier that would be one of the world’s 10 biggest airlines. As part of that plan, the KDB will provide Hanjin KAL, the holding company behind Korean Air, with 800 billion won (US$723.37 million) in funding to support its acquisition of Asiana.

Experts dispute claims that the RCEP is a “Chinese-led” agreement
Claims by some trade experts and media that the Regional Comprehensive Economic Partnership (RCEP) is a “Chinese-led agreement” are being disputed. The remarks have emerged in the wake of the Nov. 15 conclusion of the agreement — considered the world’s largest free trade agreement (FTA) with the participation of 15 countries, including South Korea, China, Japan, and the 10 ASEAN members — after eight years of negotiations.
While some observers have cited claims of “Chinese leadership” in analyzing the future major trade agreement landscape as a “mega-FTA competition” between China and the US, the Blue House and administration explained that it was not China but South Korea and the ASEAN countries that spearheaded the process from the RCEP negotiations to the final deal.

Kim Jong-un intensifies borders controls and lockdown amid global COVID-19 resurgence
North Korean leader “analyzed and assessed the serious worldwide spread of COVID-19” and emphasized measures to “further tighten the emergency anti-epidemic front,” the Rodong Sinmun reported in an article that took up the entire front page of its Nov. 16 edition.
Speaking on Nov. 15 at the 20th Enlarged Meeting of the Political Bureau of the 7th Central Committee of the Workers' Party of Korea (WPK) at the party’s headquarters, Kim “clarified the tasks for the Party, military and economic fields to further tighten the emergency anti-epidemic front, the major front of the 80-day campaign,” the article said. Kim was further quoted as “stress[ing] the need to keep a high alert” and “build[ing] a tight blocking wall.”

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Chosun Ilbo (http://english.chosun.com)
Can Numerical Codes Ease Disputes over Sea Names?
Bodies of water will in future be identified by a numerical system on nautical charts rather than names like "Sea of Japan" that inflame tempers.
The International Hydrographic Organization made the decision in a virtual meeting on Monday.
The IHO's new edition of the "Limits of Oceans and Seas" will no longer refer to the East Sea as the "Sea of Japan" but use a number under a new digital system known as S-130.

Gov't Tightens Lockdown in Seoul
The government decided Tuesday to tighten social distancing in Seoul and the metropolitan areas starting Thursday amid a resurgence of coronavirus infections.
The decision came a day after the Korea Disease Control and Prevention Agency warned that the daily tally could surge to 300 or 400 in two weeks unless the lockdown is tightened.
KDCA chief Jung Eun-kyeong sounded the warning as new infections stood above 200 for three days running, the first time since August.
Another 230 new cases were reported on Tuesday morning.

Samsung's Smartphone Market Share Surpasses 70% in Korea
Samsung's share of the domestic smartphone market has surpassed 70 percent, a rare feat for a single brand in any country. According to market researcher Strategy Analytics, Samsung sold 3.4 million smartphones in the third quarter in Korea to account for 72.3 percent of the market.
Samsung launched several new phones in the second half of this year that proved wildly popular with customers, while rival Apple rolled out its latest iPhone later than usual.

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The Dong-A Ilbo (http://english.donga.com/)
Biden keeps Regional Comprehensive Economic Partnership in check
U.S. President-elect Joe Biden said Monday (local time) that his country should establish a new trade order with allies against growing influence of China. He is trying to keep the Regional Comprehensive Economic Partnership (RCEP) led by China in check. 　
“Under the law, I am not able to begin to discuss with them,” he said on the question on the RCEP at a press briefing held in Wilmington, Delaware. “We make up 25 percent of the world's trading capacity, of the economy of the world. We need to be aligned with the other democracies, another 25 percent or more, so that we can set the rules of the road, instead of having China and others dictate outcomes because they are the only game in town.” 　

Interview with leader of Free Joseon
More information about North Korean leader Kim Jong Un’s half nieces Kim Han Sol and Kim Sol Hee has become available. Kim Han Sol is 178-centimeter tall and Kim Sol Hee looks like a typical American girl speaking English fluently.
Adrian Hong, the leader of anti-North Korean organization Free Joseon that helped the escape of the remaining family of Kim Jong Un’s older half brother Kim Jong Nam who was assassinated in Malaysia in 2017, said the above in an interview with the New Yorker on Monday (local time). Free Joseon is known to directly helped the escape of Kim Jong Nam’s family after he was killed.

First sundial of Joseon returns from US
The first public sundial of the Joseon dynasty “Angbuilgu” has returned from the U.S. The Cultural Heritage Administration announced on Tuesday that an Angbuilgu was returned to South Korea after the Overseas Korean Cultural Heritage Foundation bought it at a U.S. auction in the first half of this year. It is unknown when and how the sundial was smuggled out of the country, but an individual has owned the clock after buying it at an antique shop in St. Louis, Missouri.

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The KyungHyang Shinmun (http://english.khan.co.kr/)
Korean Air’s Acquisition of Asiana Airlines:A Mega Flag Carrier to Take Off, Loaded with Massive Debts
The government and the Korea Development Bank officially recognized the acquisition of Asiana Airlines by Korean Air. The merger of the top two Korean carriers will lead to the birth of a global top-10 airline, and a “one-state, one-flag carrier” system will be established in South Korea.
On November 16, the government held a ministerial meeting on strengthening the nation’s industrial competitiveness and discussed ways to restore the normal operation of Asiana. The Korea Development Bank announced, “We will fundamentally strengthen the competitiveness of the domestic airline industry with the launch of a single unified flag carrier.” Hanjin Kal and Korean Air both held board meetings and decided to acquire Asiana Airlines.

Government Considers a Childbirth Protection Policy that Does Not Disclose Information on the Mother
The government decided to strengthen support for single-parent families, including single mothers, after the controversial sale of a newborn baby on Danggeun Market and the abandonment of a newborn baby in front of a baby box recently. The government plans to review the introduction of a childbirth protection policy, after heeding the argument that the mandatory registration of birth before adoption is the reason for the abandonment and killing of newborn babies.
On November 16, relevant government ministries, such as the Ministry of Gender Equality and Family and the Ministry of Health and Welfare jointly announced measures to support single mothers and other single-parent families in order to resolve the social discrimination against them and to better help them lead self-sustaining lives.

Biden Administration Likely to Put More Pressure on South Korea to Choose Sides When Seeking to Keep China in Check
The Regional Comprehensive Economic Partnership (RCEP), including China, was formed on November 15, and the Joe Biden administration, which will launch next January, is expected to put the pressure on China and keep Beijing in check by rejoining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
For the time being, the Biden administration is expected to concentrate on resolving domestic issues, such as creating jobs and overcoming the economic recession triggered by COVID-19, but if Washington decides to strengthen protectionism fueling the trade conflicts with China, South Korea may be forced to choose sides.

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Maeil Business News Korea (http://www.pulsenews.co.kr/)
SK Innovation shares down on S&P’s credit rating cut to BBB-
Shares of SK Innovation Co., South Korea’s oil refining major with electric vehicle battery business, were trading lower on Wednesday after S&P Global Ratings cut the company’s credit rating to BBB-, just one notch above the junk grade, with a negative outlook due to mounting losses and debts.
The shares were down 1.56 percent at 157,000 won ($141.84), as of 9:50 a.m. in Seoul.

Market Kurly, KakaoBank, Coupang join BCG’s top 100 tech challengers
South Korea’s fresh food delivery app operator Market Kurly and the country’s largest e-commerce player Coupang are picked as 100 tech challengers by global management consulting firm Boston Consulting Group (BCG).
In a 2020 BCG Tech Challengers report on Tuesday, BCG identified 100 emerging market technology companies driving next generation of innovation and growth. Tech challengers are not tech giants such as Nvidia and Amazon but are rising stars that are capable of becoming next-generation leaders of global economy and industry.

Korean stocks and currency test new two-year highs on multiple upsides
South Korean stocks and currency are testing new two-year highs on a string of positive news – from joining of the world’s largest trade bloc to expectations of turning the corner in coronavirus crisis with breakthroughs in vaccine development.
Foreigners have returned in full force. For the first 10 trading days of November, foreigners purchased a net 4.75 trillion won ($4.29 billion) in the main Kospi, and institutional investors 721.1 billion won. Retailers net sold 5.41 trillion won worth.

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Lee Kyung-sik edt@koreapost.com

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