Tuesday, January 5, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
Prosecutors demand 9-year prison term for Samsung Vice Chairman Lee Jae-yong
Samsung Electronics Vice Chairman Lee Jae-yong faced a nine-year prison term in a retrial of a bribery case involving former President Park Geun-hye.
Special prosecutor Park Young-soo's team asked the court to sentence Vice Chairman Lee to nine years in prison in a decision hearing held at the Seoul High Court on Dec. 30.
Vice Chairman Lee faces charges of bribing the former president's longtime friend, Choi Soon-sil, in order to get government help in succeeding his father the late Chairman Lee Kun-hee and securing control of Samsung Group.
LG Display’s 48-inch bendable CSO to make debut at CES 2021
LG Display has decided to unveil '48-inch 'Cinematic Sound OLED (CSO) Panel' optimized for gaming at CES 2021, the world's largest IT and home appliance exhibition to be held online on Jan. 11.
LG Display announced on Jan. 3 that the "48-inch bendable CSO panel" is characterized by being able to freely bend and unfold the screen up to 1,000R (a bend of 1,000mm in radius) by utilizing the advantages of OLED panels that are as thin as paper.
It is used in a plane when watching TV, and can be used as a curved screen when playing games, providing a uniform viewing distance from the center of the screen to the edge to maximize visual immersion.
‘POSCO aims to be a global top tier of secondary battery business,’ says Chairman Choi
“POSCO should focus on nurturing the secondary battery business in 2021 to become a global top tier,” said POSCO Chairman Choi Jung-woo.
Delivering his New Year's address on Jan. 4, Chairman Choi, "The global steel industry has faced changes in mega trends that accelerate new mobility, urbanization, digitalization, de-carbonation and de-globalization."
Stressing the importance of fostering next-generation businesses such as battery materials next year, he said, “POSCO has been expanding its battery material business by increasing its production capacity of anode and cathode materials and preparing for commercial production of a lithium salt lake in Argentina.”
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KBS (http://world.kbs.co.kr/english/news/)
S. Korean Oil Tanker Seized by Iran, Seoul Demands Release
A South Korean-flagged oil tanker has been seized by Iran in the Strait of Hormuz in Gulf waters for alleged environmental pollution. Iran's hardline Revolutionary Guards Corps said in a statement on Monday that the tanker was seized due to the repeated infringement of maritime environmental laws.
The Guards added the ship, carrying 72-hundred tons of oil chemical products, was being held in Iran's Bandar Abbas port.
They said the tanker Hankuk Chemi, which was traveling from Saudi Arabia's Al Jubali port to the United Arab Emirates, had 20 crew members that included nationals of South Korea, Indonesia, Vietnam and Myanmar.
KDCA: Vaccination to Begin Late February, Priority Roster Being Compiled
South Korean authorities are set to administer COVID-19 vaccines first to priority groups including medical workers and residents of elderly care facilities starting in late February.
Jeong Eun-kyeong, head of the Korea Disease Control and Prevention Agency(KDCA), said Monday that preparations for vaccinations were under way, including compiling lists of priority groups, so that the shots could begin next month.
Explaining how the priority groups were decided, Jeong said vaccinations are first and foremost to maintain the health care system and prevent deaths and deterioration among high-risk patients.
Prospects Remain Open for Official Pardons of Jailed Ex-Presidents
The head of the ruling Democratic Party(DP) announced on New Year’s Day that he will propose that President Moon Jae-in pardon former Presidents Lee Myung-bak and Park Geun-hye, who are both currently serving time for corruption charges. The DP then held a Supreme Council meeting on Sunday, where it decided the two former leaders must first show signs of remorse, leaving the prospect of a pardon up in the air.
Faced with plummeting approval ratings, the head of the ruling Democratic Party(DP) proposed on New Year's Day possible pardons for ex-presidents Park Geun-hye and Lee Myung-bak. Both are currently incarcerated on corruption charges.
DP leader Lee Nak-yon said he would nudge President Moon Jae-in to consider the proposal at the right time, hoping that pardoning the two conservative former leaders would draw more centrist voters to support the left-leaning government.
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Yonhap (http://english.yonhapnews.co.kr)
New cases fall back sharply to 715 amid extended tighter virus curbs
South Korea's daily new coronavirus cases fell back sharply to slightly over 700 on Tuesday as the country extended tougher social distancing guidelines and stepped up monitoring of nursing homes and other virus-prone facilities.
The country added 715 more COVID-19 cases, including 672 local infections, raising the total caseload to 64,979, according to the Korea Disease Control and Prevention Agency (KDCA).
Tuesday's daily caseload marks a sharp fall from 1,020 on Monday and is below the average daily number of new cases, which stood at 894 over the past week.
COVID-19 deaths top 1,000, marks fast growth in past month
The number of deaths from the new coronavirus surpassed the 1,000 mark in South Korea, with the third wave of the pandemic having accelerated the growth of new fatalities in the past month.
The Korea Disease Control and Prevention Agency (KDCA) said the country reported 28 additional deaths from COVID-19, bringing the total fatalities to 1,007. Of the accumulated deaths, 295 were reported in Gyeonggi Province surrounding Seoul, followed by 204 in Seoul and 203 in the central city of Daejeon, the KDCA said.
The daily death toll has continued to show double-digit growth since Dec. 15, with a record high of 40 last Tuesday, the KDCA said.
S. Korean unit begins operations in Hormuz Strait after Iran's oil tanker seizure
South Korea's anti-piracy unit began operations in the Strait of Hormuz Tuesday to respond to heightened tensions after Iran's seizure of a South Korean oil tanker, officials said.
On Monday, Iran's Islamic Revolution Guards Corps seized the tanker, MT Hankuk Chemi, due to what Teheran claims to be environmental and chemical pollution by the ship.
The vessel, which was travelling from Saudi Arabia to the United Arab Emirates, was carrying 20 crewmembers -- five South Koreans, 11 Myanmarese, two Indonesians and two Vietnamese.
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The Korea Herald (http://www.koreaherald.com)
COVID-19 deaths reach over 1,000, marks fast growth in past month: PM
The number of deaths from the new coronavirus surpassed the 1,000 mark in South Korea, with the third wave of the pandemic having accelerated the growth of new fatalities in the past month.
The Korea Disease Control and Prevention Agency (KDCA) said the country reported 28 additional deaths from COVID-19, bringing the total fatalities to 1,007.
Of the accumulated deaths, 295 were reported in Gyeonggi Province surrounding Seoul, followed by 204 in Seoul and 203 in the central city of Daejeon, the KDCA said. The daily death toll has continued to show double-digit growth since Dec. 15, with a record high of 40 last Tuesday, the KDCA said.
New cases fall back sharply to 715 amid extended tighter virus curbs
South Korea's daily new coronavirus cases fell back sharply to slightly over 700 on Tuesday as the country extended tougher social distancing guidelines and stepped up monitoring of nursing homes and other virus-prone facilities.
The country added 715 more COVID-19 cases, including 672 local infections, raising the total caseload to 64,979, according to the Korea Disease Control and Prevention Agency (KDCA). Tuesday's daily caseload marks a sharp fall from 1,020 on Monday and is below the average daily number of new cases, which stood at 894 over the past week.
Twenty-six people died from COVID-19 in the past 24 hours to raise the death toll to 1,007, surpassing the threshold nearly a year after the nation reported its first confirmed virus case on Jan. 20, 2020.
Celltrion to release clinical study data of COVID-19 treatment next week
South Korea's pharmaceutical giant Celltrion Inc. is expected to release the outcome of its second phase clinical study of anti-COVID-19 monoclonal antibody treatment later this month, company officials said Tuesday.
The Korean Ministry of Food and Drug Safety is currently reviewing conditional approval of CT-P59, also known as Regdanvimab, a move that could potentially lead to manufacturing and sales of the first homegrown treatment. This submission was based on the data from the global phase two clinical trial, with the top-line data expected to be presented during a forum slated for Jan. 13, they said.
"We have closely cooperated with the ministry for an early release of the clinical study data," said a company official who asked not to be named, adding that the drug candidate shows efficacy in early treatment.
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The Korea Times (http://www.koreatimes.co.kr)
New cases fall back sharply to 715 amid tighter virus curbs
South Korea's daily new coronavirus cases fell back sharply to slightly over 700 on Tuesday as the country extended tougher social distancing guidelines and stepped up monitoring of nursing homes and other virus-prone facilities.
The country added 715 more COVID-19 cases, including 672 local infections, raising the total caseload to 64,979, according to the Korea Disease Control and Prevention Agency (KDCA).
Tuesday's daily caseload marks a sharp fall from 1,020 on Monday and is below the average daily number of new cases, which stood at 894 over the past week. Twenty-six people died from COVID-19 in the past 24 hours to raise the death toll to 1,007, surpassing the threshold nearly a year after the nation reported its first confirmed virus case on Jan. 20, 2020.
Asia's outlook for 2021 looks rosy but with important downward risks
Asian economies have been hit by the pandemic but differences among countries are striking. Beyond the extent of lockdowns and the size of the policy response, whether fiscal or monetary, the underlying characteristics of Asian economies also explain differences in growth trends. Countries with the largest current account deficits have suffered as risk-off episodes have complicated their necessary external funding, constraining their fiscal support. This is the case of India, Indonesia and the Philippines.
In turn, Mainland China, but also Vietnam and Taiwan and, to a lesser extent, South Korea and Japan have been less impacted both because of more effective containment policies and, in many cases, larger fiscal and monetary response. In addition, many of these economies' sectoral specializations have helped increase exports during Covid-19, whether tech, electronic and medical supplies.
Korean anti-piracy unit begins operations after Iran's oil tanker seizure
South Korea's anti-piracy unit began operations in the Strait of Hormuz Tuesday to respond to heightened tensions after Iran's seizure of a South Korean oil tanker, officials said.
On Tuesday, Iran's Islamic Revolution Guards Corps seized the tanker, MT Hankuk Chemi, due to what Teheran claims to be environmental and chemical pollution by the ship.
The vessel, which was travelling from Saudi Arabia to the United Arab Emirates, was carrying 20 crewmembers ― five South Koreans, 11 Myanmarese, two Indonesians and two Vietnamese. "Upon the seizure, we sent the Cheonghae Unit to the scene. It arrived in nearby waters earlier in the day and is conducting operations to deal with the situation," a defense ministry official said.
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HanKyoReh Shinmun (http://english.hani.co.kr)
Democratic Party says “repentance” a precondition for pardoning Lee Myung-bak and Park Geun-hye
South Korea’s ruling Democratic Party said on Jan. 3 that it would follow the wishes of party members and the Korean public in regard to the possibility of pardoning two former presidents who are currently in prison. “A national consensus and repentance from the former presidents are both crucial,” a party spokesperson said.
Party leader Lee Nak-yon’s earlier suggestion that Lee Myung-bak and Park Geun-hye should be pardoned triggered a backlash from party members and supporters, causing the party to moderate its position by emphasizing that repentance was a precondition for issuing pardons.
Choe In-ho, senior spokesperson for the Democratic Party, said during a press briefing at the National Assembly on the afternoon of Jan. 3 that Lee Nak-yon and other members of the party’s leadership had reached that position during a closed-door meeting.
UNC maintained communication lines with N. Korea throughout 2020
While reviewing what was an extremely eventful year, the UN Command (UNC) revealed it had maintained its line of communication with the North Korean military at all times, even amidst extreme tensions with the North.
“The UNC maintained its line-of-communication with [its North Korean military] counterparts throughout the year. Through the storied ‘pink phone,’ we passed 86 messages and conducted twice-daily line checks for timely and effective information exchange,” the UNC said in a 2020 review posted to its official Facebook page on Dec. 31.
The post was accompanied by photographs of a soldier contacting North Korea on the phone and of the pink telephone itself, a push-button device of the kind still in use at some American military bases in South Korea.
Kim Jong-un publishes New Year’s letter instead of giving speech
North Korean leader Kim Jong-un published a letter on Jan. 1 in which he “pledg[ed] once again that I will always remain faithful to the great people [of North Korea].”
On Jan. 1, the Rodong Sinmun devoted its entire front page to a 90-word letter including this pledge, which the newspaper said had been sent “to all the people, greeting the hope-filled new year, Juche 110 (2021).”
In the letter, Kim said, “I offer thanks to the people for having invariably trusted and supported our Party even in the difficult times.” “In the new year, too, I will work hard to bring earlier the new era in which the ideals and desires of our people will come true,” he also wrote.
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Chosun Ilbo (http://english.chosun.com)
Iran Seizes Korean Oil Tanker
A Korean oil tanker carrying ethanol has been seized by Iran's Revolutionary Guard Corps in the Strait of Hormuz.
Iran's Fars News Agency on Monday said the ship was seized due to "environmental pollution," but seems to have been taken hostage along with 20 crewmembers because Tehran wants funds locked in Korean accounts due to U.S. sanctions released.
Reports said the ship ended up stationary in waters off Bandar Abbas port. Among the ship's crew are five Koreans as well as Burmese, Indonesians and Vietnamese.
Massive Spending Fails to Raise Birthrate
Korea spent a record W45 trillion last year to boost its birthrate, which is one of the lowest in the world, but failed to reverse the decline (US$1=W1,082).
The government on Monday said it spent W45.7 trillion last year on various incentives to have more children. Given that only 275,815 children were born according to government figures, that boils down to almost W160 million in taxpayers' money spent on every single baby.
The budget the central and provincial governments allocated surged from W27.9 trillion in 2017. Last month, the government promised W300,000 a month for each child aged up to the age of two from 2021.
Samsung to Unveil New Galaxy Phone a Month Early
Samsung will unveil its latest smartphone, the Galaxy S21, on Jan. 14, a month earlier than usual.
Samsung has usually unveiled the new flagship smartphones in mid-February, but now it is struggling to maintain its top market share and hoping to boost it by stealing a march on the competition.
Invitations were sent out on Monday for Samsung's Unpacked 2021 event. The latest Galaxy will be unveiled online on Jan. 14 before hitting showrooms on Jan 29. The invite shows a camera module with three lenses, which sits on the upper left side of the rear.
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The Dong-A Ilbo (http://english.donga.com/)
Trump’s phone call with Georgia Secretary of State revealed
A recording has been revealed of U.S. President Donald Trump pressuring the Secretary of State of Georgia to overturn the election results in the state. The scandal is stirring Washington as this marks the first case of capturing the illegal act of the president pressuring a municipal government in his own voice. The latest event will likely affect the results of the final vote on the two Senate seats in Georgia, which is scheduled on Tuesday.
According to a file secured by The Washington Post on Saturday, President Trump called Georgia Secretary of State Brad Raffensperger for 62 minutes and pleaded with him to “find 11,780 votes” to secure a win for his presidential race. A traditionally conservative stronghold, Georgia saw Joe Biden winning the presidential election in November by a slight margin of 0.25 percentage points or 11,779 votes.
S. Korea to promote for Pfizer vaccine import
It is reported that large domestic corporations and small and medium-sized enterprises (SMEs) will participate in the so-called “Pfizer project.” The South Korean government initially announced that Pfizer's COVID 19 vaccine would be imported in the third quarter of the year, but the government is striving to import the vaccine in collaboration with domestic private companies earlier than the announced schedule.
“We are utilizing the global network of large Korean companies. At the same time, the related SMEs are also directly participating in the project,” a high-ranking government official said Monday. “A lot of discussions have already been conducted with SMEs that have decided to cooperate.”
Jeju Air to introduce 'Wedding Pass Ticket' for newlyweds
Jeju Air announced on Monday that it is releasing wedding pass tickets for newlyweds and prospective couples.
The wedding pass is a ticket for two adults that can be used for one round trip. The ticket can be used for any round trip of all Jeju Air domestic flights, including Jeju Island. It is effective from February to July this year. It is sold f296,000 won and can be used even during peak season. Advance seat reservation, priority boarding, 20 kilograms of checked baggage, and exemption from itinerary change fees are provided.
Until Jan. 24, Jeju Air plans to sell 1,000 tickets on a first-come, first-served basis. Customers can purchase the ticket through the Jeju Air website and smartphone applications (apps).
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The KyungHyang Shinmun (http://english.khan.co.kr/)
R.O.K.-U.S. Joint Military Exercise in March Could Be the First Test in N.K.-U.S. Relations
The launch of the Joe Biden administration in the United States, intensifying conflicts between the U.S. and China, and a North Korea planning to adjust the direction of its national strategy in time for the tenth year of Chairman Kim Jong-un’s rule: amid this changing international environment, the Moon Jae-in government is now approaching the end of its term. The Biden administration’s foreign policy has yet to take shape, and North Korea has yet to hold the eighth party congress, which will set the standard for its domestic and international policies, but one thing is clear--the year 2021 will be a turning point for the Korean Peninsula. For the Moon Jae-in government, which only has a year and five months left in office, 2021 will be a critical time that could determine the success or failure of the process for peace on the Korean Peninsula.
President-elect Biden expressed his willingness to cooperate with countries that share the value of democracy and a vision for the future. With China on his mind, he values U.S. relations with Asian allies and is aware of the importance of U.S. relations with South Korea. The Biden administration is expected to pursue cooperation and coordination rather than opt for unilateral decisions or pressure when it comes to issues related to the R.O.K.-U.S. alliance.
8.7 Million Won: The Price Management Pays for the Death of a Worker
This is the total fine that the court ordered companies and individuals to pay for industrial accidents resulting in 185 deaths in 2020. Last year, the court imposed an average fine of 5.2 million won per defendant for the death of a worker on an industrial site. In other words, the country received 8.7 million won for each dead worker.
One hundred and fifty-four employers and bosses of the deceased workers were sentenced to imprisonment, but among them 149 were released immediately after the trial. Only five were imprisoned for their responsibilities.
This is how South Korea forces companies to pay for a death in the workplace. On January 3, the Kyunghyang Shinmun analyzed 178 first trial rulings released in the Supreme Court public access system last year among all the fatal cases where there was a violation of the Occupational Safety and Health Act.
Why a Former Judge, and Not a Prosecutor, Was Appointed to Head the Corruption Investigation Office for High-ranking Officials
Kim Jin-wook, a former judge and a researcher at the Constitutional Court, was nominated as the founding chief of the first ever Corruption Investigation Office for High-ranking Officials. Cheongwadae may have chosen a former judge to lead the Corruption Investigation Office to concentrate on reforms in law enforcement agencies, such as the police and the Prosecution Service. The new Corruption Investigation Office will have to prove the purpose of its existence and to complete reforms in the Prosecution Service promoted by the Moon Jae-in government. But questions were raised as to the nominee’s investigation capacity. The opposition party opposed the nomination claiming procedural issues in the launch of the Corruption Investigation Office as well as problems of the new office’s political neutrality and independence.
On December 30, President Moon Jae-in nominated Kim Jin-wook among the final two candidates, reaffirming the meaning of the launch of the Corruption Investigation Office--completing reforms in the Prosecution Service. Earlier on December 28, the nomination committee selected Kim and Lee Kun-ree, a former prosecutor and vice chairman of the Anti-Corruption and Civil Rights Commission, as candidates to head the new investigative office.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
Hyundai Motor to establish its first overseas hydrogen fuel cell factory in China
Hyundai Motor Group envisioning global leadership in hydrogen economy will establish its first overseas hydrogen fuel cell system factory in China upon gaining regulatory go-ahead for the capex from the Korean government.
Korea’s Ministry of Trade, Industry and Energy gave the nod to Hyundai Motor Group to export hydrogen fuel cell system technology, according to industry and government sources on Tuesday. The auto conglomerate last year filed for an approval for its plan to export hydrogen fuel cell technology and build a hydrogen fuel cell factory in Guangzhou, China.
The company’s fuel-cell technology was developed under a government-sponsored program, which requires government approval for export.
Daewoo E&C wins $2.67 port facilities deal in Iraq
South Korea’s Daewoo Engineering & Construction Co. (Daewoo E&C) has secured a package of five deals worth 2.9 trillion won ($2.67 billion) to build facilities for a large-scale port in Iraq.
Daewoo E&C announced on Monday that it signed a package of deals with the General Company for Ports of Iraq for the Al Faw Grand Port project. Under the deal, Daewoo E&C will be responsible for the construction of inner wall of the container terminal, terminal dredging and reclamation, road linking to the city, main transportation passage at the new port, and Khor Al Zubair tunnel.
Shares of Daewoo E&C were trading 4.66 percent higher on Tuesday at 5,390 won. Daewoo E&C had clinched five deals for the new port in 2013 including building a seawall. Daewoo E&C has secured total 10 deals worth 4.1 trillion won for the project.
Kospi tests new highs as retailers drive bull run at the opening of the Year of Cow
South Korea’s benchmark Kospi opened the Year of Cow on a bullish note, heading for a new milestone led by unfazed retail push.
The main Kospi closed Monday at a fresh historic high of 2,944.45, up 2.47 percent from the previous session. The tech-heavy Kosdaq rose 0.95 percent to finish at 977.62.
Kospi fell 0.04 percent to 2,943.38 while Kosdaq gained 0.21 percent to 979.65 in Tuesday morning trading. Individual investors net bought 1.03 trillion won ($948.2 million) worth of shares on Monday, sucking up most of the 1.19 trillion won offloaded by institutions.
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Andes www.redaktionstest.net/andes-info-ec/
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The Jordan Times www.jordantimes.com/
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The Baltic Times www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
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Daily News Hungary https://dailynewshungary.com/
Budapest Times www.budapesttimes.hu/
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And many other countries.
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