Monday, July 12, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
JC Global represents distribution-specialized Co. in Jeollabuk-do
CEO Kim Gyung-rea of JC Global (Wonjin Ecotech's distribution company) established the company in the Jeollabuk-do Province. Since then, the company has been growing by leaps and bounds. For a long time, he composed songs under the theme of ‘Muju Arirang’ in the Jeollabuk-do Province. Youn Ki-sik, the CEO of Wonjin Eco-Tech, is a considered a true engineer and an established environmental protector who quietly researches and develops technologies, even at great risk to his own life. "In order for our economy to be as stable as an unshakable tree, it is crucial to discover and foster strong venture companies to secure numerous technological skills and patents." says CEO Kim Gyung-rea of JC Global.
Suhyup Chairman Lim delivers a plaque of appreciation to Rep. Chung Jeom-sik
Lim Joon-taek, chairman of the National Federation of Fisheries Cooperatives (Suhyup), visited the National Assembly on July 7 and delivered a plaque of appreciation to Rep. Chung Jeom-sik of the main opposition People Power Party, who worked hard to propose and pass the "Fishery By-products Recycling Act.” According to the Suhyup on July 8, Chairman Lim Joon-taek said, "We deeply appreciate the Rep. Chung's interest and efforts in the recycling of fishery by-products. We hope that the legislation will ease the economic burden on fishermen and contribute greatly to the development of the fisheries industry."
“Damyang-gun makes a success in creation of Dambit Cultural District”
“Damyang-gun makes a successful completion of the Dambit Cultural District, which started construction with the aim of creating a luxury eco-friendly residential complex,” said Choi Hyung-sik, governor of Damyang-gun. In an interview with The Korea Post media, owner and publisher of three English and two Korean-language news media publications since 1985, Gov. Choi said, “During my tenure since 2002, I made many achievements. In particular, the completion of the sale of industrial land in the eco-high-tech industrial complex, and the end of the legal dispute in Meta Provence, France-inspired tourist village with colorful buildings & art installations, plus shops & eateries in Damyang-gun, are very impressive.” The followings are main contents of the Korea Post interview with Choi Hyung-sik, governor of Damyang-gun.
KBS (http://world.kbs.co.kr/english/news/)
Preliminary Candidate Registration for Presidential Election Begins
The registration of preliminary candidates for next year's presidential election has begun. The National Election Commission(NEC) started to receive applications for preliminary candidates on Monday, which is 240 days before the March 2022 presidential election. The registration period will run through February 12 next year. After registration, candidates are allowed to officially start their campaigns by setting up an office and hiring up to ten paid employees. The registered candidates can also canvass by phone, text or email, and publish a book of their election pledges. Each candidate can collect up to two-point-57 billion won in donations for their presidential campaigns.
S. Korea Expresses Strong Regret over Japan's Leak of Talks on Possible Summit
South Korea has expressed strong regrets over the "unilateral" leak by Japan of ongoing talks between the two nations on a possible bilateral summit during the Tokyo Olympics. A Foreign Ministry official in Seoul said on Sunday that the two nations have been engaging in close talks through a diplomatic channel on ways to use the Olympics to resolve pending bilateral issues. The official said it is true that the two sides reviewed the possibility of a summit between President Moon Jae-in and Japanese Prime Minister Yoshihide Suga on the premise that it will create momentum for the resolution of pending issues and proper formalities will be observed. The official then expressed strong regrets over the fact that Japanese media outlets unilaterally leaked the content of the consultations between the countries' diplomatic authorities, citing Japanese officials. The official added that it would be difficult to continue talks under the circumstances, calling for Tokyo to respond "prudently."
N. Korea Criticizes US for Using Humanitarian Aid for Political Purposes
North Korea's Foreign Ministry accused the United States of using humanitarian aid to interfere in other countries’ internal affairs by linking it to human rights. The ministry issued the criticism on Monday in an article by Kang Hyon-chol, a senior researcher at the Association for the Promotion of International Economic and Technological Exchange. In the article published on the ministry's website, Kang said that many countries have been left with a bitter taste after placing hope in U.S. aid and humanitarian assistance. The article comes amid a report that the U.S. may consider offering COVID-19 vaccines to North Korea as humanitarian aid. The North Korean researcher said U.S. aid is nothing but a tool to realize its political and economic dominance over other countries. The article appears to have indicated the North's position that it will reject all humanitarian aid from the U.S. including vaccines as long as the U.S. raises the human rights issue.
Yonhap (http://english.yonhapnews.co.kr)
Strictest COVID-19 curbs begin Monday in greater Seoul
South Korea will enforce its strictest social distancing scheme so far starting Monday, aiming to rein in the resurgence of the new coronavirus in the greater Seoul area. Authorities said they will place the area under Level 4, the highest of a new four-tier distancing scheme, for two weeks until July 25 and decide whether to maintain the curbs based on changes of the virus cases. Under the Level 4 rules, private gatherings of three or more people will be banned from 6 p.m. to 5 a.m. in Seoul, Incheon and the surrounding Gyeonggi Province. Private gatherings of up to four people are allowed during the rest of the day. Violators will be fined 100,000 won (US$87.07). For family gatherings, only 2-4 members of an immediate family are allowed to gather depending on the hour, even for traditional family rituals. Previously, up to eight immediate family members were allowed to gather. Cohabiting family members, as well as young children and elderly people who need live-in caretakers, are exempted from the 2-4 gathering rule. Leisure activities, such as mountain climbing and golf, are subject to the 2-4 person restriction around the clock.
Kim and Xi highlight strong relations on treaty-signing anniversary
North Korean leader Kim Jong-un and Chinese President Xi Jinping highlighted their commitment to further strengthen relations between the two countries as they exchanged messages to mark the 60th anniversary of signing a friendship treaty, state media reported Sunday. In the messages to celebrate the 1961 signing of the "DPRK-China Treaty of Friendship, Cooperation and Mutual Assistance," Kim also said the international situation has been "unprecedentedly complicated" in recent years while Xi said the world is undergoing "a great and rapid change unprecedented in 100 years." "Despite the unprecedentedly complicated international situation in recent years, the comradely trust and militant friendship between the DPRK and China get stronger day by day and the traditional DPRK-China friendship has, gaining momentum, comprehensively developed onto a higher stage in all fields," Kim was quoted as saying.
Finance chief opposes increasing extra budget
Finance Minister Hong Nam-ki has said it is not easy for the government to increase the size of an extra budget currently under review at parliament as politicians made the request amid the fourth wave of the pandemic. In late June, the government proposed an extra budget of 33 trillion won (US$28.7 billion) to fund another round of COVID-19 aid packages for people in the bottom 80 percent income bracket and small merchants hit hard by the pandemic. But politicians raised the need to increase the size of this year's second supplementary budget as the country is reeling from the fourth wave of the pandemic with the greater Seoul area under the toughest virus curbs. Health authorities on Monday began implementing the Level 4 distancing rules, the highest level in its four tier scheme, in the greater Seoul area for two weeks amid spiking virus cases.
The Korea Herald (http://www.koreaherald.com)
Call to scrap Unification Ministry stirs debate
Debate over the Unification Ministry, which oversees inter-Korean affairs, further heightened Sunday after remarks from the main opposition party leader drew backlash from the minister and ruling party lawmakers. People Power Party chief Lee Jun-seok had floated the idea of scrapping the ministry altogether, a notion his critics called “regrettable” and “unreasonable.” Lee suggested doing away with the ministry during an interview with a local radio station Friday. While putting forward the opposition party’s “small government” agenda, he advocated the abolition of both the Ministry of Gender Equality and Family and the Unification Ministry, saying “17, 18 ministries” were a “bit much” in comparison with other countries. South Korea currently has 18 ministries. “Separating the duties of the Foreign Ministry and the Unification Ministry could be inefficient,” Lee said, clarifying that he was not opposing reunification with North Korea.
President’s New Deal fund picks draw over 5% return in 6 months
President Moon Jae-in has invested 50 million won ($43,700) into major funds intended to support the government’s New Deal project since January this year. About six months later, the funds have drawn more than a 5 percent average return combined, data showed Sunday. According to financial market tracker FN Guide, the five New Deal funds operated by local asset management firms have generated a 5.26 percent return on average as of Thursday. The president, who made his investment on Jan. 15, has earned an estimated 2.63 million won in profit from the investment. To encourage investors to actively invest in New Deal funds that promote the state’s policy drives, Moon decided to inject 10 million won into each of the funds, which invest in the digital and green sectors of locally listed stocks.
Korean Air’s plan for integrated airline with Asiana to cost W600b
Korean Air’s plan to launch an integrated airline after acquiring its long-term rival Asiana Airlines will cost an additional 600 billion won ($524 million), new data revealed on Sunday. According to data obtained by lawmaker Park Sang-hyuk, the airline will have to foot a total bill of around 2.4 trillion won for the acquisition and the post-merger integration process, which will take place over a period of two years. The plan will see Korean Air integrate its booking and ticketing systems with Asiana’s, as well as their customer database. The IT integration is where most of its post-merger integration budget is expected to be spent. Flight attendants from both airlines will also work under the same system through new training. With both airlines having a different mileage system, Korean Air is expected to run promotions in an effort to use up Asiana mileage, rather than creating an integrated mileage system.
The Korea Times (http://www.koreatimes.co.kr)
Croatian ambassador hopes to rekindle tourism
Croatia is best known among Koreans as an emerging tourist destination in Europe for its beautiful natural landscapes along the Adriatic Sea as well as cities with medieval charm. "In 2019, almost half a million Koreans visited Croatia and enjoyed the rich historical and cultural heritage, natural beauty, as well as the hospitality of the local people and excellent food and wine," Croatian Ambassador to Korea Damir Kusen said during an interview with The Korea Times at the National Library of Korea (NLK) in southern Seoul, July 6. However, the country has much more to offer, so the Croatian Embassy has joined hands with the NLK to present "Croatian Literature and Cultural Heritage from the Middle Ages to Modern Times," an exhibition looking into Croatia's lesser-known cultural heritage. The NLK signed an MOU with the Croatian National Library, and the embassy then proposed the exhibit to the NLK.
Regulators forced to extend loan benefits during strictest social distancing rules
With Korea set to impose its toughest social distancing level for the next two two weeks from Monday, financial authorities are in a growing dilemma over whether to extend loan benefits to the self-employed and small business owners. Under the Level 4 social distancing rules, more than two people cannot gather for outdoor activities after 6 p.m. in Seoul and its surrounding areas. Small business owners ― particularly those running restaurants, cafes and pubs ― will be hit hard by the heightened social distancing regulations. The decision was made amid renewed fears of new infections, with the nation's daily COVID-19 caseload topping 1,000 for the fifth consecutive day since July 7. This situation puts the Financial Services Commission and other authorities in a stalemate over their future policy direction. Ever since pandemic fears started engulfing the economy in March 2020, financial watchdogs have urged banks to delay receiving the interest and principal on loans from small business owners until the end of September.
North Korea foreign ministry accuses US of using humanitarian aid for 'sinister purpose'
North Korea's foreign ministry on Monday accused the United States of using humanitarian aid as a political tool for interfering in internal affairs and taking issue with human rights. Kang Hyon-chol, a senior researcher at the Association for the Promotion of International Economic and Technological Exchange, made the case in an article published on the website of the North's foreign ministry. "In actual practice, many countries have undergone bitter tastes as a result of pinning much hope on the American 'aid' and 'humanitarian assistance,'" Kang said. "This vividly reveals that the American ulterior intention of linking 'humanitarian assistance' with 'human rights issue' is to legitimize their pressure on the sovereign states and achieve their sinister political scheme," he added. Kang said the world is now facing severe economic difficulties because of the COVID-19 pandemic and accused the U.S. of attempting to abuse the suffering and pain for "sinister political purposes."
Chosun Ilbo (http://english.chosun.com)
Seoul Faces Harder Lockdown
The government said Friday it will tighten lockdown in the greater Seoul area even further as daily coronavirus infections reached a new record of 1,316 cases. Prime Minister Kim Boo-kyum said at a meeting that the new rules will go into effect for two weeks next Monday. Gatherings of more than four people by day and two people after 6 p.m. will be banned. All bars, pubs and nightclubs will be forced to close while restaurants, coffee shops and gyms must shut at 10 p.m. There will be no exception even for fully vaccinated people. The government's dismal failure to secure ample vaccines in time means the situation is unlikely to improve for weeks and months to come.
Tightened Lockdown Crushes Business Hopes
Businesses are seeing their hopes crushed as the government tightened lockdown in the greater Seoul area amid a surge in coronavirus infections. One hospitality industry insider said, "We prepared some kinds of programs to make up for the lost year, but now the peak summer season has been ruined again." A spate of infections traced to the Hyundai Department Store in Gangnam have stunned the retail industry, which was just emerging from the devastation wrought by lockdown. The mall has decided to close until next Monday as infections increased to nearly 70 cases. Other retailers also worry they will be swept up in a fresh wave of fear as customers only shop online. One department store staffer said, "Sales had been rising since the second quarter and there were big hopes for the second half, but that's all gone now." "We're not worried about operating hours being shortened by one or two hours, but if lockdown is tightened people will simply stop coming," a supermarket staffer said.
Korea Aims to Finish in Top 10 at Tokyo Olympics
Korea hopes to win seven gold medals with an aim to finish in the top 10 at the upcoming Summer Olympic Games in Tokyo. Medals are mostly expected to come from disciplines like archery, fencing, shooting and taekwondo, in which the country dominates. In the previous Olympics in Rio de Janeiro in 2016, Korea won nine gold, three silver and nine bronze medals to finish ninth. With just two weeks left until the Olympics, Korean athletes and staff gathered to boost team spirit in an event in Seoul on Thursday. Due to concerns over the spread of coronavirus, just one athlete from each discipline, including archer Oh Jin-hyek, football player Lee Kang-in and shooter Jin Jong-oh, attended the event. "We have been preparing hard for the Olympics," said volleyball star Kim Yeon-koung, who will carry Korea's national flag at the opening ceremony of the Olympics. "People are having tough times due to the coronavirus pandemic. We will do our best to give them some solace," she added. The women's volleyball players hope to win their first medal in 45 years, since winning the bronze medal at the 1976 Summer Olympics in Montréal, Canada.
HanKyoReh Shinmun (http://english.hani.co.kr)
“Comfort woman” exhibit in Japan suspended after gallery received object presumed to be firecracker
A Japanese exhibition of a statue symbolizing victims of sexual enslavement by the Japanese military was effectively suspended three days after its opening. According to a Kyodo News report Thursday, Citizen’s Gallery Sakae, the public gallery in Nagoya, Aichi Prefecture, where the statue is being exhibited, announced that morning that it was temporarily closing until Sunday. The original schedule had been to exhibit the statue from Tuesday to Sunday as one of the artworks from the exhibition “After ‘Freedom of Expression’?” The latest decision, which came three days after the exhibition’s opening, means the gallery is to be closed for the remaining scheduled period. Kyodo referred to it as a “de facto suspension” of the exhibition. That same morning, a package containing what is believed to have been a firecracker was delivered to Citizen’s Gallery Sakae.
KDCA commissioner says S. Korea can see daily COVID-19 caseload of 2,140 in late July
South Korea’s disease control authorities predicted that, if the current surge of COVID-19 cases worsens, the daily caseload could reach 2,140 by the end of July. They also said that the Delta variant of the coronavirus could become dominant in Korea in mid-August. A joint analysis of mathematical models with experts from the private sector showed that the number of daily cases will reach about 1,400 by the end of July at current levels and 2,140 if the current situation gets worse,” said Jeong Eun-kyeong, commissioner of the Korea Disease Control and Prevention Agency, in the daily briefing on Thursday. The researchers used an infectious disease modeling approach that predicts changes in COVID-19 infections using simultaneous differential equations that model uninfected individuals’ exposure to, infection with, and recovery from the coronavirus. Jeong also outlined a more positive scenario. If we suppress the spread of the disease by actively complying with disease control rules, the daily caseload could start to decline. And if active compliance with social distancing and other rules is combined with the planned vaccine rollout, [the daily caseload] is expected to decrease to 260-415 by the end of September,” she said.
S. Korean nuclear research institute hacked by N. Korea for 12 days
The Korea Atomic Energy Research Institute (KAERI) was exposed for 12 days to hacking attacks suspected of having been carried out by North Korea, it has been learned. At a National Assembly Intelligence Committee meeting Thursday, the National Intelligence Service (NIS) reported a “9% increase compared with the second half of 2020 in the number of cases of damage due to state-sponsored hacking organization attacks during the first half of 2021.” The NIS also reported on specific instances, according to Intelligence Committee secretaries Kim Byung-kee from the Democratic Party and Ha Tae-keung from the People Power Party. “In the case of KAERI, a damage report was received on June 1 and has been under investigation since then,” Ha said. “The incident occurred after the institution failed to carry out an NIS request to the server manager to change the password,” he added. An investigation is also underway into another suspected North Korean hacking attack against Korea Aerospace Industries, which similarly failed to change its password.
The Dong-A Ilbo (http://english.donga.com/)
Vatican Secretary of State: ‘Pope wishes to visit N. Korea’
Vatican Secretary of State Cardinal Pietro Parolin met with South Korean National Assembly Speaker Park Byung-suk on Friday. “It is certain that the Pope wishes to visit (North Korea),” he told Park. The Vatican has hinted at the possibility for the Pope’s visit to the Stalinist country once more after National Intelligence Service chief Park Jie-won said, “We are pushing to arrange the Pope’s visit to Pyongyang.” Secretary of State Parolin, No. 2 at the Vatican, received National Assembly Speaker Park who is visiting Italy at the Apostolic Palace on the day, where he said, “The Vatican is exerting efforts to maintain a dialogue channel with North Korea. We are waiting for an invitation from Pyongyang.” When meeting with President Moon Jae-in in October 2018, Pope Francis said, “If (North Korea) sends an invitation, I will reply without any condition, and I can visit.”
Convenience stores to offer lunchbox buyers shares of 10 companies
Emart 24 and Hana Financial Investment have joined forces to sell “stock lunchboxes” for a month from Wednesday to August 12. According to Emart 24 on Sunday, stock lunchboxes to be on sale this time are enclosed with a coupon each that entitles the buyer to receive a share of one of 10 major companies. The shares are those of Naver, Hyundai Motor, Samsung Electronics, Korea Air, Samsung Heavy Industries, Interpark, Mom’s Touch, Hanwha Life Insurance, and Korea Lines. The number of shares allocated in this event are different for different companies. A total of 10,000 shares are up for grabs. To receive a share, a person should sign up with Hana Financial Investment as ‘new client’ through the QR code marked on the coupon. One can confirm which share he or she has been granted only after completing the signing up process. Every single coupon is designed to grant a share to the buyer, but the event automatically ends when 10,000 people have signed up on a first-come, first-served basis.
Govn’t, ruling party at odds with each other for disaster relief fund
The United States has set out to expedite domestic vaccinations amid rapid spread of the Delta variant of COVID-19. In the nation, the spread of COVID-19 has varied depending on vaccination rates. “The best thing you can do to protect yourself and your family is to get vaccinated,” said U.S. president Jo Biden (photo) in a White House speech. “We have been fighting against the virus, have made progress but should not remain complacent.” President Biden unveiled a new vaccine supply plan. The United States will wind down mass vaccination sites and instead reach out to people individually, going door to door, to help people get vaccinated. Instead of providing vaccines at mass vaccination sites, the government will distribute the vaccines in facilities closer to local communities such as pharmacies, clinics and pedestrian’s offices. Under the new plan, medical staff will visit door to door to give vaccines or visit people at offices.
TheKyungHyangShinmun (http://english.khan.co.kr/)
Record-breaking 1,316 New Cases of COVID-19: Seoul Metropolitan Area to Enforce Level-4 Distancing
The Central Disease Control Headquarters announced that as of midnight July 9, authorities confirmed 1,316 new cases of the novel coronavirus. This is the largest number of cases confirmed in a day since the first case of COVID-19 was detected in South Korea, and it is also the first time that authorities confirmed more than 1,300 cases in one day. The fourth wave of the virus is fiercely sweeping over the country as authorities continue to confirm record-breaking numbers of new cases following 1,275 cases the previous day. Among the new cases, 1,236 were locally transmitted and 80 entered from overseas. A regional analysis showed that 80% (963) of the cases occurred in the greater Seoul area with 495 cases in Seoul, 396 in Gyeonggi, and 72 in Incheon. In other areas, authorities confirmed 53 cases in Busan, 16 in Daegu, 3 in Gwangju, 28 in Daejeon, 16 in Ulsan, 1 in Sejong, 23 in Gangwon, 13 in Chungcheongbuk-do, 51 in Chungcheongnam-do, 8 in Jeollabuk-do, 5 in Jeollanam-do, 9 in Gyeongsangbuk-do, 17 in Gyeongsangnam-do and 30 in Jeju.
The Two-Faced Education Ministry Calls to Exclude Education from Anti-Discrimination Act, While Promoting the Elimination of Discrimination as Its Performance
The Ministry of Education, which requested that education be excluded from the grounds of discrimination banned by the anti-discrimination act, repeatedly reported the elimination of discrimination based on education level and school as its performance of state affairs, drawing criticism for contradictory actions. According to the “Progress in State Affairs (2020 Q4)” a document drawn up by the Office for Government Policy Coordination, which Justice Party lawmaker Bae Jin-gyo obtained on July 8, the education ministry submitted its performance on the elimination of practices based on education level and school every year since the launch of the Moon Jae-in government. In 2017, the ministry stated “guidance and promotion of selection based on equal opportunity” as its performance and in 2018, the ministry claimed that it encouraged blind interviews in college admissions (no information on the high school of the applicant) and that it banned discrimination based on education and school in the basic college admission process. In fact, in the basic college admission process for the 2021 school year, which the ministry announced in August 2018, the ministry added the sentence, “One must not discriminate against applicants on grounds of education and high school.”
Special Prosecutor Park Young-soo, “I Received King Crabs and Gwamaegi from Kim, a Marine Products Dealer, on 3-4 Occasions”
Park Young-soo (69, 10th class of the Judicial Research and Training Institute), the special prosecutor who led the team that investigated Park Geun-hye and Choi Seo-won (formerly Choi Soon-sil) and their abuse of state authority admitted that he received gifts of king crabs, etc. on 3-4 occasions from Kim (43, arrested), a businessman selling marine products suspected of bribing prosecutors, police officers, journalists, and politicians. Park released a statement on July 5 and said, “I received king crabs and gwamaegi as gifts on 3-4 occasions during the holidays, but I did not think the gifts were expensive or problematic.” He further said, “It was my mistake for being careless and simply thinking of him as an acquaintance of Song, who is well trusted by those who know him. I apologize for stirring trouble due to my lack of caution.” According to the Improper Solicitation and Graft Act, a public servant is not allowed to receive any money or goods exceeding one million won at a time or three million won in a fiscal year from the same person. A special prosecutor is a public servant.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Posco’s Q2 OP at record high of near $2 bn on global steel demand recovery
Posco earned record operating income of 2.2 trillion won ($1.9 billion) for the second quarter on soaring steel demand on heavy infrastructure stimuli measures across the world and strengthening in prices due to spike in commodity cost. The Korean steel giant disclosed Friday that its consolidated operating income jumped 41.8 percent to 2.2 trillion won in the April-June period from three months ago and staggeringly from 167.7 billion won made a year ago. The second-quarter earnings are its best since 2006 when it began to publicly disclose its quarterly performance. It also is the first time for its three-month earnings to top 2 trillion won since it adopted the International Financial Reporting Standards in 2010.
SK Global Chemical to build Korea’s largest plastic chemical recycling facility in Ulsan
SK Global Chemical Co. will establish South Korea’s largest-capacity plastic chemical recycling factory by spending 600 billion won ($522 million) to strengthen chemical recycling business. The company announced Thursday that it signed a memorandum of understanding (MOU) to build a plant that produces raw materials by recycling plastic and PET wastes by 2025 in Ulsan-Mipo Industrial Complex. The plant will command an area of 160,000 square meters, the size of 22 soccer fields, and become the largest chemical recycling plant in the country. The signing ceremony was attended by Ulsan City mayor Song Chul-ho and SK Global Chemical Na Kyung-soo. The company will use depolymerization process for PET wastes, which refers to a method that breaks PETs to transform them back into initial raw material.
Labor conflict looms over Korean auto production lines on top of chip woes
South Korean auto production lines are being disturbed by strikes on top of chip shortage. About 73.8 percent of 48,599 unionized members of Hyundai Motor Co. voted for a strike on Wednesday after the management and union failed to settle collective bargaining terms for this year despite 13 rounds of negotiations. The union has filed for dispute with the management and will be able to have the right to stage a legal strike if the authority gives up mediation. The union is demanding an increase of 99,000 won in the base salary, 30 percent of base salary and normal wage of performance-based bonus compensation, as well as extension of retirement age to 64 and stay on the current payroll.
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