Wednesday, March 10, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
Korean banks post an 11.5% fall in net profit in 2020 amid Covid-19 pandemic
Amid Covid-19 uncertainties, Korean banks saw their net profit tumble more than 11 percent in 2020 compared to the previous year due to high loan loss provisions amid Covid-19 uncertainties.
Local banks recorded 12.3 trillion won ($10.9 billion) in net income in 2020, down 11.5 percent from a year ago, according to the preliminary data released by the Financial Supervisory Service.
LG Electronics wins patent infringement lawsuit against TCL of China
LG Electronics said on March 9 that it has won a patent infringement lawsuit against TCL Communication Technology Limited and two European affiliated entities.
Last week the Mannheim Regional Court in Germany ruled in favor of LG in a lawsuit the company filed against TCL in November 2019.
Samsung Electronics enhances performance of Massive MIMO radios up to 30%
Samsung Electronics has achieved the successful development of a new network technology, Mobility Enhancer, which improves beamforming performance of its Massive MIMO radios up to 30 percent in a mobile environment, the company said on Feb. 24.
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KBS (http://world.kbs.co.kr/english/news/)
S. Korea Looking into Using Second Dose Inoculation for Initial Vaccination
South Korea is looking into using some AstraZeneca vaccines reserved for second dose inoculation for initial vaccination in order to speed up the program.
Presidential spokesperson Kang Min-seok said in a text to reporters on Wednesday that there is consensus in the government to swiftly vaccinate as many people as possible when the second dose supply is finalized.
Daily COVID-19 Cases Climb to Highest in 19 Days
Daily COVID-19 cases climbed to the upper 400s and the highest in 19 days as clusters associated with workplaces were found throughout the nation.
US Says It Shares Many Common Interests with S. Korea When Asked about Quad
The U.S. State Department remained reticent about whether South Korea will join the Quad, a regional forum to counter China in which Seoul has been reluctant to participate.
In a press briefing on Tuesday, department spokesperson Ned Price said South Korea shares many common interests with the U.S., including challenges posed by the North, but he won't make any projections about Seoul's participation.
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Yonhap (http://english.yonhapnews.co.kr)
Ex-opposition leader Hwang Kyo-ahn signals return to politics
Hwang Kyo-ahn, a former leader of the main opposition party who has been out of the public eye since an election defeat last year, said Wednesday he will rise up against what he calls the Moon Jae-in government's "tyranny," practically declaring his return to politics.
S. Korean companies push for sustainable biz amid ESG investment hype
Major South Korean companies across manufacturing industries are accelerating their transition to a greener, more sustainable business as investors are increasingly taking account of environmental, social and governance (ESG) factors.
S. Korean shipbuilders take up more than half of new orders in Feb.
South Korean shipbuilders accounted for more than half of new orders in the global shipbuilding market in February, surpassing their Chinese rivals for the eighth consecutive month, industry data showed Wednesday.
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The Korea Herald (http://www.koreaherald.com)
S. Korea to invest W200b in developing automotive chip technology
South Korea plans to invest more than 200 billion won ($176 million) in developing automotive chip-making technology by 2022 in an effort to nurture the next-generation vehicle sector, the finance minister said Wednesday.
Military reports 7 new COVID-19 cases
Four Army officers, two draftees and an Air Force officer have tested positive for the new coronavirus, the latest in a series of infections at barracks across the country, the defense ministry said Wednesday.
Samsung launches 5G network with Spark in New Zealand
Samsung Electronics Co. on Wednesday said it has launched a 5G network in New Zealand with the country's largest telecommunications service firm as the South Korean tech giant tries to expand its presence in the network equipment market.
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The Korea Times (http://www.koreatimes.co.kr)
Traffic snarls downtown as city starts renovating Gwanghwamun Square
Seoul City has started construction to widen Gwanghwamun Square in central Seoul by turning part of an adjacent thoroughfare into a pedestrian-only space.
The capital's most ambitious renovation project began on March 6, aiming to expand the square, which has been criticized for being pedestrian-unfriendly by sitting in the middle of the busy Sejong-daero thoroughfare.
'Faust Ending' seeks alternative finale
Goethe's "Faust" is considered a masterpiece of German literature, portraying how humanity can be saved despite corruption through strenuous attempts.
"Faust Ending," a new play by the National Theater Company of Korea (NTCK), twists the iconic ending of the original play, centering on humane agony and responsibility. Veteran actress Kim Sung-nyo plays the titular role.
Naver, Kakao, Toss fail identification verification review
Major tech firms Naver, Kakao and operator of the financial platform, Toss, Viva Republica, face a delay in entering the identification verification business, as they failed to be designated by the government as entities able to carry out the process.
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HanKyoReh Shinmun (http://english.hani.co.kr)
S. Korea reports 446 new cases of COVID-19 on March 9
According to the Korea Disease Control and Prevention Agency (KDCA), 427 of the cases were domestic transmissions while the remaining 19 were imported from overseas. The country’s cumulative total is now 93,263.
First untraceable case of COVID-19 South African variant found in Gimpo
South Korea reported the first case of infection with the South African variant of the COVID-19 virus without a known route of transmission.
The first cluster infection at a school since the start of the semester on March 2 was also reported.
S. Korean blockbuster “Seo Bok” to hit theaters, streaming service simultaneously
“Seo Bok,” a film starring Gong Yoo and Park Bo-gum, is premiering simultaneously in theaters and through the video streaming service Tving.
As the format is being attempted for the first time for a South Korean blockbuster film debut, many are watching to see the potential ramifications for the film industry.
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Chosun Ilbo (http://english.chosun.com)
Why Young Married Koreans Pretend to Be Singles
Marriage is on the decline, but the statistics also seem to be skewed by thousands of young couples who have not registered their marriage yet because they see no immediate advantage.
Private Education Soars in Lockdown
Spending on private education for high-schoolers soared last year despite the shutdown of Korea's ubiquitous private crammers.
According to the Education Ministry on Tuesday, a monthly average of W289,000 was spent on private education for primary and secondary schoolchildren last year, down 10.1 percent from 2019 (US$1=W1,139).
Women Still Make up Only 3.6% of CEOs
Women account for only 3.6 percent of CEOs of listed companies in Korea. Although the ratio is growing each year, it remains embarrassingly low compared to the U.S. and other advanced countries.
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The Dong-A Ilbo (http://english.donga.com/)
Aftermath of U.S. bond yield spike affects S. Korea
The KOSPI tumbled to the lowest point of the year during the intra-day trading, which was a fall in four days in a row, due to the aftermath of an increase in the U.S. bond yield. KOSDAQ fell below 900 for the first time in about three months. The ‘interest rate tantrum’ caused by a spike in the bond yield is increasing uncertainties of the global financial market.
A large vessel found in 6 months at a N. Korean coal port
North Korea has reportedly resumed vessel activity at a coal port in Nampo City, South Pyongan Province. According to the broadcast of Voice of America on Tuesday, satellite images taken on February 8 revealed a large vessel that is assumed to be some 150 meters long at a coal port in Nampo. It is the first time that a large vessel was detected after sailing has been frozen since August due to COVID-19.
Private education spending gap widens between income groups
Monthly spending on private education hit a record high last year despite the spread of COVID-19. There is a growing concern that the COVID-19 pandemic is widening the education gap, with the gap in private education spending between high-and low-income families increasing fivefold
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The KyungHyang Shinmun (http://english.khan.co.kr/)
Let’s Try the COVID-19 Basic Income
A thermal imaging camera was installed in the first floor lobby of our company building. More than a few employees opted to work from home or took “family-care leave.” Many of those that did come to work, worked with a mask on. I frequently washed my hands and wiped my cell phone and computer keyboard with an alcohol cotton swab. I often text messages to my mother, who has a weak respiratory system. The message goes, “Don’t go outside even if you feel stuffy.”
Seventy Years of the Korean War Amidst Inter-Korean Confrontation: Time to Strengthen Our Will for a New Start Toward Peace
North Korean leader Kim Jong-un held a preliminary meeting of the Central Military Commission of the Workers’ Party of Korea on June 23 and deferred plans to take military action against the South. According to the decision made this day, on June 24, the North Korean military removed most of the facilities for loudspeaker broadcasts that it had installed in the forefront. It is unclear as to why North Korea suddenly decided to pause and catch its breath while heightening its level of pressure on the South this month--cutting off all lines of communication between the two Koreas and blasting the North-South Korea Joint Liaison Office. The North may have determined that it has achieved its purpose of uniting the people and warning the South or it could have decided that rising tensions could trigger a counterattack from South Korea and the United States. Rising tension on the Korean Peninsula is never a good sign, so we welcome Chairman Kim’s decision to “stop for now” this day.
Disease Control Authorities, “No Deaths Due to Vaccines Reported Overseas. No Need to Be Anxious”
This day, the COVID-19 vaccination response team announced, “So far a total of 209 cases of allergic reactions (following inoculation) have been reported, and among them two have died, which we are currently investigating.” Among the cases reported, 204 were of mild symptoms such as headache, fever, nausea and vomiting, which are common after vaccination. The other three cases may be anaphylaxis, a severe allergic reaction.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
LG Chem shares rise on Tesla rally, new battery supply report
South Korea’s LG Chem shares gained steam Wednesday morning, reflecting a sharp rise in Tesla stock prices overnight and fresh news that LG Energy Solution, unlisted battery spinoff of LG Chem, aims to build a factory either in the United States or Europe to produce advanced battery cells dedicated to Tesla electric vehicles.
Naver-Emart alliance out to challenge IPO-enhanced Coupang dominance
South Korean internet giant Naver Corp. and leading grocery chain operator Emart Inc. are teaming up to expand their footprint in the local e-commerce market dominated by Coupang Inc. whose valuation and ammunition would multiply after it goes public on the New York Stock Exchange this week.
Samsung SDI to expand cylindrical battery factory in Tianjin
South Korean battery maker Samsung SDI Co. is studying to ramp up capacity at its plant in Tianjin, China, to meet growing demand for cylindrical lithium cells, the most widely used secondary battery amid its wider employment.
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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
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Herald www.smh.com.au
Colombia Reports www.colombiareports.com
Bogota Free Planet www.bogotafreeplanet.com bfp@bogotafreeplanet.com
El Universal www.eluniversal.com.mx/english
Andes www.redaktionstest.net/andes-info-ec/
Ecuador Times www.ecuadortimes.net/
The Jordan Times www.jordantimes.com/
LSM.lv www.lsm.lv/
The Baltic Times www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais https://english.elpais.com/
Philippine Daily Inquirer www.inquirer.net/
Daily News Hungary https://dailynewshungary.com/
Budapest Times www.budapesttimes.hu/
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The Korea Post is running video clips from the different embassies.
Azerbaijan: www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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