Wednesday, September 8, 2021

 

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

 

The Korea Post (http://www.koreapost.com/)

Malaysia, Korea share National Day in August, are headed for increased cooperation”

Charge d’Affaires Ahmad Fahmi Ahmad Sarkawi of the Republic of Malaysia in Seoul said, “The 31st day of August is the official National Day of Malaysia and it marks the day when Malaysia became free from British colonial rule.” It is the happy day for the people of Malaysia like the Korean people who enjoys the 15th of August when they won their independence in 1945. To mark the auspicious occasion, The Korea Post media (publisher of 3 English and 2 Korean news publications since 1985) recently had a special interview with CDA Sarkawi of Malaysia at his office in Seoul. Details of the interview follow:  Question: Please introduce your National Day in full detail. Answer: The 31st day of August is the official national day of Malaysia. It commemorates the Malayan Declaration of Independence on 31 August 1957, marking the day Malaya is free from British colonial administration. This year's Independence Day is the 6th anniversary. 'Malaysia Prihatin' which literally means Malaysia Cares, is retained as the theme for this year's Independence Day.

 

Is President Moon turning a bit business-friendly for the Korean economy?

This is the first installment in a series of special feature articles of The Korea Post media on the leading business conglomerates of Korea, which sheds light on the past, present and future prospects of the company.—Ed. In Korea whenever a new political party comes into power, big businesses called Jaebeol, all but invariably, undergo the ordeal of having to adjust themselves to the new surroundings under the new government. Here in the ‘Land of the Morning Calm,’ there is a very often-used old adage, “When you dust a person, there is not a single one who is clean!” However, President Moon Jae-in seems to be trying to differentiate himself from some of his predecessors, and recently released Vice Chairman Lee Jae-yong of Korea’s top business conglomerate, Samsung, in a parole measure for a number of prison-term servers on the occasion of the Liberation Day of Korea on Aug. 15, 2021.

 

Westin Josun Seoul introduces ‘Nice J Shot’ golf package

The Westin Josun Seoul is introducing ‘Nice J Shot’ package until Nov. 30 to help guests flawlessly prepare their rounds of golf while enjoying memorable autumn stay at the hotel in this beautiful season of fall. Under the theme of golf, which is steadily becoming a popular hobby among Korea’s young MZ generation (referring to millennials and Generation Z), ‘Nice J Shot’ package offers trendy golf items and golf lessons from premium golf academy to help guests prepare their rounds of golf and finish off their perfect days with relaxing rests at the luxurious hotel spa.

 

                                                                                                             

KBS (http://world.kbs.co.kr/service)

KDCA: Study Shows COVID-19 Vaccines Over 90% Effective Among Late Teens, Young Adults

New data finds that COVID-19 vaccines had more than 90 percent efficacy among people in their late teens and early 20s. The Korea Disease Control and Prevention Agency unveiled on Tuesday results of an analysis conducted between August 1 and 29 on the efficacy of COVID-19 vaccines among people aged between 16 and 24. The agency found that the efficacy rate reached 98-point-four percent among teens aged between 16 and 18 while standing at 92-point-four percent among young adults aged between 19 and 24. The agency said though not many in that age bracket have received their full doses, the latest analysis results are significant in that they prove that vaccines are highly effective in that younger group.

 

Opposing Political Factions to Resume Talks on Disputed Revisions to Media Law

Rival parties are set to resume negotiations over controversial revisions to the press arbitration law on Wednesday after they finalized a roster for a consultative body aimed at seeking a settlement on the issue before a plenary vote scheduled for later this month. The eight-person consultative apparatus will hold its first meeting at the National Assembly at 3 p.m. Opposing factions have yet to settle many details of the negotiations , including whether  the meetings of the consultative body should be open to the public. The parties are also jockeying over the scope of these negotiations, with the ruling party arguing that all sides should respect previous discussions, while the PPP contending they should start from scratch. Earlier, the parties fielded members for the ad-hoc body, including two DP lawmakers and two PPP lawmakers. Rival parties set aside the remaining four seats for outside members, recommended by the parties.

 

One Million Additional COVID-19 Vaccine Doses Secured from Romania to Arrive

A flight carrying around one million doses of COVID-19 vaccines Seoul secured via a bilateral cooperation agreement with Bucharest has departed Romania for South Korea.  According to the South Korean Embassy to Romania on Wednesday, a cargo aircraft containing 526-thousand-500 Pfizer vaccine shots and 450-thousand Moderna vaccine shots left for Incheon International Airport Tuesday night, local time. South Korea purchased one-point-05 million doses of the Pfizer vaccine from the European country and the first half of it arrived in Incheon last Friday. South Korea had also agreed to receive 450-thousand doses of the Moderna vaccine in return for medical supplies given to Romania. The latest batch is scheduled to arrive at around 3 p.m.

                                                                                                                 

 

Yonhap (http://english.yonhapnews.co.kr)

National cemeteries to close during Chuseok holiday to prevent COVID-19 spread

National cemeteries will be closed during the upcoming Chuseok holiday to prevent the spread of the new coronavirus, the veterans affairs ministry said Wednesday. From Sept. 18-22, visits to 11 national cemeteries across the country will be restricted, according to the Ministry of Patriots and Veterans Affairs. Chuseok is one of the country's biggest traditional holidays, during which families hold rituals thanking their ancestors and visit their graves. This year, South Koreans are set to enjoy five days off, including the three-day Chuseok holiday that falls from Sept. 20-22. "It was an inevitable decision made in consultations with the health authorities for the safety of veteran families," the ministry said in a release. The decision came as South Korea is ramping up its vaccination campaign to ensure 70 percent of its population get their first shot before the Chuseok holiday and create herd immunity by November.

 

Seoul stocks slump amid U.S. tapering uncertainties

South Korean stocks retreated Tuesday amid lack of major market-moving events as investors still assess weak U.S. job data and its impact on the Federal Reserve's timeline for tapering its stimulus. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) decreased 15.91 points, or 0.5 percent, to close at 3,187.42 points. Trading volume was moderate at about 745 million shares worth some 11.7 trillion won (US$10.1 billion), with losers outnumbering gainers 447 to 393. Foreigners sold a net 327 billion won, and institutions offloaded a net 121 billion won, while retail investors bought 452 billion won.


Taliban hopes for S. Korea's diplomatic recognition, economic exchanges: official

The Taliban wants South Korea to recognize it as a "legitimate" government of Afghanistan and hopes to strengthen economic cooperation and other exchanges between the two countries, a Taliban spokesman said Monday. Abdul Qahar Balkhi, a member of the Taliban's Cultural Commission, made the remarks in an exclusive interview with Yonhap News Agency, calling for Seoul to maintain "cordial" ties with the country "replete with untapped mineral resources." It marked the first interview a Taliban official has held with a South Korean media outlet since the Islamist movement took over Afghanistan as the United States withdrew troops from the war-torn nation. Balkhi's remarks came amid speculation that the Taliban group would seek diplomatic recognition from the international community and outside economic support to help rebuild the country as Washington plans to complete its troop withdrawal to end 20 years of war later this month.
                                                                                    

 

The Korea Herald (http://www.koreaherald.com)

China’s top diplomat to visit Seoul next week

Chinese State Councilor and Foreign Minister Wang Yi will make a two-day visit to Seoul next week to discuss bilateral relations and other pending issues, including North Korea, Seoul’s Foreign Ministry said Tuesday. The top Chinese diplomat will arrive here on Sept. 14 and hold talks with South Korean Foreign Minister Chung Eui-yong on Sept. 15. He is also likely to pay a courtesy call to President Moon Jae-in but both the ministry and Cheong Wa Dae said nothing has been confirmed yet. Wang last visited Seoul in November last year. Since then, there has been a flurry of diplomacy between Seoul and Washington as US President Joe Biden, who took office in January, has pledged to rebuild ties with Asian allies amid China’s growing influence in the Indo-Pacific region.

 

Post-Suga, no dramatic shift in Seoul-Tokyo relations expected

The Japanese government is set for a leadership change, but a dramatic turnaround in Seoul-Tokyo relations is unlikely, experts say. In the wake of Prime Minister Yoshihide Suga’s abrupt decision to step down last Friday, many here are wondering what the new Japanese leadership will mean for South Korea as an array of candidates vies to succeed Suga at the ruling Liberal Democratic Party leadership election, set for Sept. 29. The new LDP president is effectively assured of becoming the next prime minister, as the LDP holds a parliamentary majority. So far, Fumio Kishida, the former foreign minister under Prime Minister Shinzo Abe, has already thrown his hat in the ring, while several others, including Taro Kono, the popular minister in charge of COVID-19 vaccination, and Sanae Takaichi, a former internal affairs minister who is backed by Abe, are looking to join the heated race.

 

South Korea tests first SLBM

South Korea has become the first non-nuclear state to develop a submarine-launched ballistic missile, having run a test-firing from a newly built submarine, sources said Tuesday. SLBMs have been developed by seven countries -- China, France, India, North Korea, Russia, the UK and the US -- all of which have nuclear weapons. A Dosan Ahn Chang-ho submarine, the country’s first 3,000-ton underwater vessel, revealed last month, carried out the underwater ejection tests last week after similar tests from a submerged barge last month. The homegrown SLBM, code-named Hyunmoo 4-4, is a variant of the Hyunmoo-2B ballistic missile, which could fly up to 500 kilometers and reach anywhere in North Korea.

                                                                                    

 

The Korea Times (http://www.koreatimes.co.kr)

'Chinese FM's visit to South Korea is to curb US influence'

South Korea is facing a dilemma over how to strike a strategic balance between the United States and China as Beijing is set to increase its pressure on Seoul after Washington recently expressed its wish to bring more of its allies into the U.S.-led intelligence sharing alliance, known as "Five Eyes." Chinese Foreign Minister Wang Yi's planned visit to the South next week is, in this regard, interpreted as an attempt to urge Seoul to side with Beijing following signs of South Korea drawing closer to China's main rival, the U.S., especially in security sector, diplomatic watchers here said. According to the foreign ministry, Tuesday, Wang will visit Seoul Sept. 14 and 15 for talks with his counterpart Chung Eui-yong. He may also meet with President Moon Jae-in. His last visit to South Korea took place last November, and the two foreign ministers had their last in-person meeting in April in China's Xiamen.

 

Controversy arises over move to allow singles to adopt children

A controversy is arising over the government's move to allow single people to legally adopt children, with the decision being welcomed by those who agree on the need to recognize diverse forms of family, while others express concerns over possible child abuse by the adoptive parent. The Ministry of Justice announced Monday a plan to amend the law to allow an adult who is single to adopt children if they meet certain requirements proving their capability of raising a child. Under the current law, only couples who have been married for three years are allowed to adopt a child. Unmarried people are ineligible for adoption based on the traditional view that they would face more difficulties in raising a child than married couples.

 

Local governments encourage foreign residents to get vaccinated

Local governments are ramping up efforts to encourage foreign residents to receive vaccinations against COVID-19 as the number of new infections among foreign nationals is steadily increasing. According to the Korea Disease Control and Prevention Agency (KDCA), Tuesday, 15.2 percent of newly confirmed patients between Aug. 29 and Sept. 4 were foreign nationals. In particular, more than half of confirmed cases were non-Koreans in some cities and counties which have a large number of migrant workers due to the large presence of factories and farms there ― 55 percent in Hwaseong and 50.5 percent in Ansan, Gyeonggi Province, and 67.6 percent in Nonsan, South Chungcheong Province, over the same period. For Seoul, 6.3 percent of new patients were foreigners in July, but the figure jumped to 9.2 percent in August.

                                                                                                               

 

Chosun Ilbo (http://english.chosun.com)
N.Korea Building High-Rise Apartments on Chinese Border

North Korea is rushing to complete a cluster side of high-rise apartments in Sinuiju on the Chinese border. "I wonder what they're doing even though the borders are sealed," a local in Dandong on the Chinese side of the Apnok or Yalu River said. Five or six 15-story apartment buildings are under construction right on the river bank and the raw structures are already finished. North Korea sealed its borders at the outbreak of the coronavirus pandemic early last year. The road and railway between Dandong and Sinuiju, which used to carry 70 percent of trade volume between the two countries, are closed, though some farming supplies like fertilizer have been imported by sea.

 

Moon Hints at Experiment in Living with Coronavirus

President Moon Jae-in has hinted at an experiment in living with coronavirus as daily infections remain in the low thousands despite protracted lockdowns. "If the COVID-19 situation is alleviated and the vaccination rate rises, we will be able to explore a gradual transition to a new virus control which continues to combat the spread of the virus while leading a normal everyday life," he told officials at Cheong Wa Dae Monday. "It has been inevitable for the government to extend lockdown, but we are determined to return to normal life as soon as possible," he added. Since Monday, private gatherings of up to six people have been permitted in the capital region, and more rules are expected to be eased for the fully vaccinated.

 

Top 1% of Businesses Pay Bulk of Corporate Taxes

The top one percent of businesses are shouldering 82.7 percent of corporate taxes, but nearly half of all corporations are tax-free businesses. According to a report from the National Tax Service on Monday, the 8,380 companies that make up the top one percent of businesses earned W2.77 quadrillion last year or 52.5 percent of the total (US$1=W1,157). But they paid W44.3 trillion in corporate taxes, which was 82.7 percent of the total. The maximum corporate tax rate in Korea stood at 24.2 percent in 2011, a percentage point lower than the OECD average, but since then the government has split the tax rate into four brackets that resulted in the top rate rising to 27.5 percent while the minimum rate is 17 percent, slightly higher than the G7 average of 15 percent.

 

                                                                                                

 

HanKyoReh Shinmun (http://english.hani.co.kr)
Korean firms’ sales in China wane 7 percent in 2020

Major South Korean companies including Samsung Electronics and Hyundai Motor recorded 117.1 trillion won (US$101.1 billion) in sales in China last year. The number was down by 6.9% from four years earlier, in 2016. The Federation of Korean Industries (FKI) on Monday released results from an analysis of companies that had announced figures for sales in China from among South Korea’s top 100 companies according to overall sales. The findings showed that amid a decline in Chinese sales, the percentage of all overseas sales made in China for the 30 companies in question fell by 3.5 percentage points from 25.6% in 2016 to 22.1% in 2020. The FKI said the trend reflects a drop in demand for South Korea-made memory semiconductors from Chinese companies such as Huawei amid US regulations on trade with China that have been in place since 2018.

 

No UK-style “with COVID-19” for Korea, government says

With the South Korean government expected to begin discussing a full-scale loosening of COVID-19 control measures after the extended Chuseok holiday this month, disease control authorities announced plans to explore approaches for a “gradual return to everyday life,” while stressing that this would not be a “with COVID-19” approach along UK lines. The term ‘with COVID-19’ is used in different senses, and we sometimes hear it used to refer to getting rid of distancing and regarding confirmed cases as unimportant,” said Son Young-rae, director of the Central Disaster Management Headquarters social strategy group, in a briefing Monday. The same day, the administration eased some of its disease control measures, increasing the number of people permitted to take part in private gatherings while also extending the current social distancing levels for another four weeks.

 

Electric vehicles take main stage at international auto show

The motor show that once displayed the fastest and most powerful automobiles has a new look. It’s now a venue for automakers to display electric vehicles and other eco-friendly means of transportation as they respond to the climate crisis and tougher environmental regulations. South Korea’s Hyundai Motor has joined the ranks of companies planning to stop selling cars with internal combustion engines in Europe by 2035. The International Motor Show (in German, Internationale Automobil Austellung, or IAA) starts on Tuesday in Munich, Germany, with the name “Mobility 2021.”

The IAA, which had been held in Frankfurt since 1951, is one of the world’s most famous motor shows. With the show being held offline for the first time since the outbreak of COVID-19, the organizers decided to relocate it to Munich, a hub of the IT industry. They’ve also expanded the show to include all means of transportation, including bicycles and electric scooters.

                                                                                     

 

The Dong-A Ilbo (http://english.donga.com/)

Restarting Yongbyon nuclear reactor is not violation of inter-Korean agreements, says Seoul official

South Korean First Vice Minister of Foreign Affairs Choi Jong-kun said North Korea restarting its nuclear reactor at the Yongbyon nuclear complex in early July is not a violation of inter-Korean agreements. At a plenary session of the National Assembly's foreign affairs and unification committee on Tuesday, Choi was asked if the North’s restarting of nuclear facilities in Yongbyon is a violation of the agreements made at the inter-Korean summit held at Panmunjom in 2018. Choi answered that he does not think so. “There are visible measures taken by North Korea, which are still in progress, from the agreements reached through the April 27 Panmunjom Declaration and the September 19 Pyongyang Joint Declaration,” he said, citing the closing of the Punggye-ri nuclear test site and the Dongchang-ri missile test site as examples.

 

Jeff Bezos invests in anti-aging biotech startup

Amazon founder Jeff Bezos, 57, is known to have invested in Altos Labs, a U.S. startup dedicated to reversing aging process and extending the human lifespan. MIT Tech Review reported on Sunday (local time) that Bezos and other billionaires interested in living forever invested in the biotech Silicon Valley startup founded earlier this year. Altos Labs is pursuing biological reprogramming technology, which adds proteins to a cell so that it reverts to a stem-cell-like state before differentiation. The startup is recruiting leading genetic engineering scientists, offering an annual salary of more than 1 million U.S. dollars (approx. 1.15 billion won). Russian billionaire Yuri Milner is one of those who invested in the firm.

 

South Korea virtually completes the development of SLBM

South Korea is known to have successfully test-launched a locally developed submarine-launched ballistic missile (SLBM) from a submerged barge recently. An SLMB, which is strategic arms launched from a hard-to-detect submarine, is called a game changer that will determine the dynamics of a battlefield. With North Korea unveiling new SLBM last and this year, speeding up the development of asymmetric strategic weapons that can threaten South Korea and the U.S., South Korea has become the eighth country in the world with SLBM power. According to a defense industry official on Monday, the Agency for Defense Development (ADD) recently conducted successful two test launches of an SLBM from Dosan Anchangho, the first 3,000-ton submarine.

 

                                                                                                 

 

The KyungHyangShinmun (http://english.khan.co.kr/)
No Circumstantial Evidence So Far. If Necessary, the Investigation Should Be Conducted by the CIO,” Lee Jun-seok Responds to Allegation of Instigating Prosecution

On September 5, after an intense debate by the People Power Party’s presidential primary election commission, the party decided not to include questions to prevent adverse selection in primary surveys. Adverse selection, here, refers to the intervention by members of one political party in another party’s primaries to elect a weaker candidate. However, the major opposition party decided to reflect the survey results of its key members (members who have paid their membership fees for at least three months and who have taken part in at least one training program conducted by the party) 20% in the first cut-off, which originally was supposed to be determined 100% by public polls. The party also decided to question the candidate’s competitiveness in the presidential election against the ruling party candidate in the final primary.

 

The Mammoth Renovation Project in East Ichon-dong Collapses: Yongsan-gu to “Cancel Efforts to Promote Consolidated Project”

Yongsan-gu in Seoul officially canceled the consolidated renovation project of five apartment complexes in Dongbu (East) Ichon-dong: Hangaram, Gangchon, Ichon Kolon, Hangang Daewoo, and Ichon Woosung. According to the coverage by the Kyunghyang Shinmun on September 6, Yongsan-gu recently concluded that it would be impossible to promote a consolidated renovation project of the five apartment complexes. When they first started discussions, there was a voluntary movement from the residents, but they failed to form a single union to promote the project. An official from the Yongsan-gu office said, “Although it was the campaign pledge by the seventh district chief to be elected by the people, in reality, even forming individual organizations to promote the renovation of each apartment complex was hard. In this situation, we judged that it would be difficult to go ahead with the consolidated renovation project.”

 

People Power Party Will Not Include Questions to Prevent Adverse Selection in Primary Polls

On September 5, after an intense debate by the People Power Party’s presidential primary election commission, the party decided not to include questions to prevent adverse selection in primary surveys. Adverse selection, here, refers to the intervention by members of one political party in another party’s primaries to elect a weaker candidate. However, the major opposition party decided to reflect the survey results of its key members (members who have paid their membership fees for at least three months and who have taken part in at least one training program conducted by the party) 20% in the first cut-off, which originally was supposed to be determined 100% by public polls. The party also decided to question the candidate’s competitiveness in the presidential election against the ruling party candidate in the final primary.

 

                                                                                                

 

Maeil Business News Korea (http://www.pulsenews.co.kr/)

SK Biopharm’s new drugs meet hopeful response, eyes $864mn in sales from epilepsy drug

SK Biopharmaceuticals’ novel drugs including epilepsy drug Xcopri (cenobamate) are gearing up for aggressive global expansion after their initial launches in key pharmaceutical markets North America and Europe have drawn favorable responses. According to sources on Monday, the Korean pharmaceutical company kicked off Phase 1 trials in the U.S. and Hungary to evaluate cenobamate currently indicated for adults in children and adolescents with partial seizures. Cenobamate was approved for the treatment of partial-onset seizures in adults in the U.S. in November 2019 and in Europe in March 2021.

 

LX Hausys tapping to join the IMM PE-led buyout of furniture brand Hanssem

LX Hausys Ltd., an industrial materials unit of LX Group, has publicly expressed interest in joining the buyout of South Korea’s top furniture brand Hanssem Co. led by IMM Private Equity. LX Hausys said on Monday that it would be tapping to take part in a fund that will be set up by IMM PE for its buyout of Hanssem. The company said it wants to invest 300 billion won ($259.2 million) in the IMM PE-led fund as a strategic investor for business synergy rather than a financial investor that recoups investment later.’

 

Hyundai Motor to fasten timetable on phase out from traditional engine cars

Hyundai Motor Co. will stop selling traditional combustion engine vehicles in Europe from 2035 and other major markets from 2040 to completely migrate to battery and fuel cell vehicles by 2045. Hyundai Motor aims to generate the Generation One (first generation) living in the age of zero carbon,“ said Chang Jae-hoon, president and chief executive of Hyundai Motor at the IAA Mobility in Munich, Germany, on Monday. At IAA Mobility in Munich, Germany, on Monday, Hyundai Motor announced to achieve carbon neutrality by 2045 based on three pillars – clean mobility, next-generation platforms, and green energy.

 

                                                                                                                 

 

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 Heraldwww.smh.com.au

Colombia Reports http://colombiareports.com

Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com

El Universal http://www.eluniversal.com.mx/english

Andes http://www.andes.info.ec/en

Ecuador Times http://www.ecuadortimes.net

The Jordan Times https://www.jordantimes.com

LSM.lv http://www.lsm.lv/en

The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com

El Pais http://elpais.com/elpais/inenglish.html

Philippine Daily Inquirer https://www.inquirer.net

Daily News Hungary http://dailynewshungary.com

Budapest Times http://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.
 

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