Tuesday, June 14, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
EU adopts sixth package of sanctions against Russia
The European Commission welcomed the adoption of the sixth package of restrictive measures against Russia, the commission announced on June 3. Sanctions are among the EU's most visible, direct and powerful responses to Russia's brutal and unprovoked attack on Ukraine, including systemic violence and atrocities against the civilian population. This package also imposes further sanctions against Belarus considering its involvement in this aggression.
A charity concert, ‘For Peace in Ukraine,’ by Artel Philharmonic Orchestra
A charity concert entitled, “For Peace in Ukraine” by Artel Philharmonic Orchestra, will be held at the at Lotte Concert Hall in downtown Seoul at 19:30 on June 23, 2022. It is a charity musical event held together with the UN-NGO in supplication of peace in Ukraine also known in a name, “You Are Not Alone!”
Uzbekistan's chairmanship in the SCO
Events organized within the framework of Uzbekistan's chairmanship in the Shanghai Cooperation Organization are continuing in the capital. The agenda includes topical issues of strengthening cooperation in various areas, including cultural and humanitarian exchange. The day before, Tashkent hosted an international tourism forum
Chosun Ilbo (http://english.chosun.com)
Int'l Air Travel Needs Time to Get Back on Its Feet
A bumper summer season for airlines to be in the offing for the first time in two years now the government has lifted restrictions on international flights. But prices remain sky-high and carriers seem unwilling to stir from their pandemic-induced torpor. Industry insiders predict it will take at least another couple of months until prices start to come down and volume recovers anywhere near pre-pandemic levels.
Large-Scale 'Long COVID' Study Planned
Korea will conduct a survey of 10,000 people to study the causes and symptoms of "long COVID" later this year to produce guidelines for treating sufferers more effectively. It is expected to be released next year. In a meeting last Friday, Prime Minister Han Duck-soo said, "Many people are suffering from long-term COVID symptoms, but there's been no full survey so far. We will conduct a survey to analyze the causes and symptoms in order to come up with treatment guidelines."
Samsung Ranked 22nd in Global Market Cap
Samsung Electronics ranked 22nd in the world in terms of market capitalization at the end of March. Samsung is the only Korean company among the world's top 100 listed companies. According to global accounting firm Pricewaterhouse Coopers on Sunday, Samsung's market cap was valued at US$342 billion, down 21 percent compared to a year ago because the won fell and slipped seven notches in the rankings.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
Stocks collapse as faster rate increases seen as inevitable
Korean stocks and other financial assets plummeted Monday as expectations for rapid rate rises in the United States grew as did fears about money flowing out of riskier investments and markets. Losses were deep and across the board, with shares of companies large and small falling, the won declining and cryptocurrencies collapsing.
Nuke test may be a 'political decision' away, says top envoy
Foreign Minister Park Jin said there is “only a political decision left” before Pyongyang goes ahead with its seventh nuclear test.“It launched an intercontinental ballistic missile, short-range ballistic missiles, and now it appears that preparations for the seventh nuclear test have been completed,” Park told a group of reporters after a visit to the Korean War Veterans Memorial in Washington on Sunday. “So it seems that only a political decision remains.”
North's artillery fire wasn't reported for hours
The Joint Chiefs of Staff (JCS) belatedly disclosed Sunday evening that North Korea fired artillery rounds earlier in the day, explaining its delay on the fact that such launches do not violate United Nations resolutions. The JCS said in a text message sent to reporters on Sunday evening that the South Korean military detected several projectile “trajectories,” believed to be artillery rounds, between 8:07 a.m. and 11:03 a.m.
The Dong-A Ilbo (http://english.donga.com/)
KOSPI collapse nearly 3% over inflation fears from U.S.
It is turning into a Black Monday as stock markets in Asia including Korea plummeted by about 3 percent over inflation fears coming from the United States. The concerns over monetary tightening to prevent inflation are causing a continuing fall in stock and bond prices, as well as the won’s value against dollar. Some say the Korean economy, which is already battered by the so-called three highs—high interest rates, a strong dollar and high inflation—is in an alarming situation.
Five crypto exchanges to establish voluntary regulations
In the wake of the crash of Luna and Terra, Korea’s top five crypto exchanges – Upbit, Bithumb, Coineone, Korbit, and Gopax – have decided to form a joint consultative body to apply the same set of standards for transaction support, or coin listing. “The government is carrying out on-site inspections on financial companies to prevent the risk caused by the crash spilling over into the financial system”
Pyongyang estimated to have 20 nuclear warheads
The global stock of nuclear weapons, which has been continuously curbed since the end of the Cold War, is expected to grow again over the next decade. As of January, North Korea was suspected to have 20 nuclear warheads and in possession of enough nuclear fissile materials to produce a maximum 55 warheads additionally. In an interview with the Deutsche Welle on Monday, the Stockholm International Peace Research Institute (SIPRI) warned that the risk of nuclear war is much higher than it was a decade ago.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korean stock and bond prices hit annual lows, KRW/USD above 1,280 on inflation scare
Korean stock, bond and currency value crashed Monday upon confirmation of runaway U.S. inflation that could speed up monetary tightening. Kospi touched new annual lows on panicky selloff by foreign and domestic institutions on inflation scare, closing Monday down 3.5 percent at 2,504.51 with losers eclipsing gainers 881 to 42. The secondary Kosdaq retreated 4.7 percent to 828.77 with 1,388 losers versus 76 gainers.
S. Korea’s gas and power bills to go up in Q3, fanning inflation already at 14-yr high
Utility fees are going up in South Korea at fast rate due to yawning deficit at state utility operators from spike in fuel import cost, adding to runaway inflation that has already hit above 5 percent. According to the Ministry of Trade, Industry and Energy and the Korea Gas Corporation (KOGAS) on Monday, the unit cost of raw material settlement reflected in the bills charge for residential and commercial city gas use will be hoisted up by 0.67 won to 1.90 won ($0) per mega-joule (MJ) next month.
KCTU asks ILO to back cargo truckers’ strike causing havoc on Korean production
The Korean Confederation of Trade Unions (KCTU), the biggest militant umbrella labor union in South Korea, has asked the International Labor Organization to intervene and back the strike by Korean unionized cargo truck drivers hat has been unsettling major production lines from cars to steel mills and petrochemicals.
HanKyoReh Shinmun (http://english.hani.co.kr)
Kim Jong-un stresses “power for power” contest, leaving out “goodwill for goodwill” in latest speech
North Korean leader Kim Jong-un referred to the “right to self-defence” as an “issue of defending sovereignty” and reiterated the “invariable fighting principle of power for power and head-on contest” during an enlarged plenary meeting of the Workers’ Party of Korea (WPK) Central Committee, the party-run Rodong Sinmun newspaper reported Saturday.
The semiconductor war calls for an innovation ecosystem
“For want of a nail, the shoe was lost. For want of a shoe, the horse was lost.’ And it goes on and on until the kingdom was lost.” This was what US President Joe Biden said in February 2021 when signing an executive order containing his strategy for revising semiconductor supply chains. Semiconductors may be mere components, but they determine convenience in the digital world that governs our day-to-day lives. They decide success or failure in the Fourth Industrial Revolution and the direction of technology supremacy.
S. Korean presidential office holds security meeting after detecting likely MRL fire by North
South Korea’s presidential office announced that Kim Tae-hyo, first deputy director of the National Security Office (NSO), chaired a meeting on Sunday to review the security situation after detecting what appeared to be the vapor trail of rounds from a North Korean multiple rocket launcher. In a message on Sunday evening, the presidential office said that “a security situation review meeting was held for about an hour at 10:30 am, during which time officials were briefed on the related situation and reviewed the readiness posture of our military.”
The KyungHyangShinmun (http://english.khan.co.kr/)
Cargo Truckers Solidarity and Transport Ministry Fail to Reach Agreement in Fourth Talks on Safe Trucking Freight Rate, “The People Power Party Opposed”
The Cargo Truckers Solidarity of the Korean Public Service and Transport Workers’ Union affiliated with the Korean Confederation of Trade Unions and the Ministry of Land, Infrastructure and Transport failed to reach an agreement after engaging in the fourth talks on extending the Safe Trucking Freight Rate--the minimum wage for truckers--scheduled to end this year and expanding the policy to all types of vehicles and cargo.
President Yoon’s Approval Rating Drops for Two Consecutive Weeks: 48.0% Approve, 44.2% Disapprove
President Yoon Suk-yeol’s approval rating dropped below 50% in the results of a poll released on June 13. The polling firm, Realmeter conducted a survey of 2009 people ages eighteen and older on June 7-10, and the results showed that President Yoon’s approval rating in the fifth week of his term in office fell 4.1% from the previous week to 48.0% (very good 30.3%, fairly good 17.7%). Among the respondents, 44.2% disapproved of the president’s handling of state affairs (very bad 33.3%, fairly bad 10.9%), up 3.9% from the previous week.
“Obstinate Suppression,” Police Ban Labor Demonstration of 499 Participants in Yongsan
The police sent a notice informing the Korean Confederation of Trade Unions that a demonstration of 499 participants in front of the War Memorial near the presidential office, which the confederation reported in advance, would be prohibited. The police banned the demonstration just two days after it announced a policy to allow smaller demonstrations near the Office of the President.
KBS(http://world.kbs.co.kr/service)
Launch of Space Rocket Delayed by One Day Due to Strong Winds
The government has postponed this week's planned launch of the country's homegrown space rocket due to strong winds at the launch site. The Nuri rocket, also known as KSLV-II, was initially scheduled to be transported to the launch pad and erected vertically on Tuesday and launched on Wednesday from the Naro Space Center in the county's southern coastal area of Goheung.
Top Diplomats of S. Korea, US: N. Korea's Nuke Test will be Met by Firm Response
The top diplomats of South Korea and the United States have warned that North Korea will face a united and firm response if it conducts any provocations including a nuclear test. South Korean foreign minister Park Jin and U.S. Secretary of State Antony Blinken issued the warning on Monday after talks in Washington. In a joint press conference after the talks, Blinken said the allies are prepared to make both "short and longer-term adjustments to military posture" as appropriate, expressing concerns about the possibility of a nuclear test by North Korea.
Secondary School Academic Proficiency Impacted by COVID-19 for Second Year
A recent report shows that secondary school academic performances were negatively impacted as the prolonged COVID-19 pandemic forced schools to conduct remote classes for the second year in 2021. According to the education ministry and the Korea Institute for Curriculum and Evaluation on Monday, the academic proficiency of students in their third year of middle school and second year of high school was lower compared to pre-pandemic years.
Yonhap (http://english.yonhapnews.co.kr)
S. Korea's space rocket launch delayed due to strong winds
South Korea has decided to postpone this week's scheduled launch of its space rocket Nuri by one day due to strong winds at the launch site, the science ministry said Tuesday. The country was originally planning to launch the homegrown space rocket Wednesday, eight months after the first trial in October ended in partial success. The launch has now been moved to Thursday.
N. Korean nuclear test will be met by united, firm response from U.S., S. Korea: ministers
South Korean Foreign Minister Park Jin and his U.S. counterpart Antony Blinken on Monday urged North Korea to refrain from staging additional provocations including a nuclear test, saying that they will only further isolate the impoverished country. The top diplomats also said North Korean provocations will be met with a strong response.
S. Korean volunteer fighter quizzed over unauthorized stay in Ukraine
A South Korean volunteer fighter who recently returned from Ukraine has been questioned by police over possible violation of passport law for his unauthorized stay in the war-ridden country, officials said Monday. Rhee Keun, a Navy SEAL-turned-YouTuber, voluntarily appeared at the Seoul Metropolitan Police Agency last Friday and underwent questioning, according to officials with knowledge of the matter.
The Korea Herald (http://www.koreaherald.com)
Is the first lady gearing up for official activities?
President Yoon Suk-yeol’s spouse Kim Keon-hee could be starting her public activities in earnest, recently visiting the late President Roh Moo-hyun’s grave and speaking on animal rights in an interview. In a scheduled event announced by the presidential office, Kim visited Roh’s grave in the village of Bongha in Gimhae, South Gyeongsang Province, on Monday and met with his wife Kwon Yang-sook, in her first official activity without accompanying Yoon.
Kim tightens discipline, calls for officials to root out ‘unrevolutionary acts’
North Korean leader Kim Jong-un called for officials to root out “unrevolutionary acts” such as bureaucratic behavior in a party meeting, Pyongyang’s state media said Monday, a day after North Korea fired artillery into the West Sea. Pyongyang’s state-operated Korean Central News Agency said Kim presided over a secretariat meeting of the Central Committee of the ruling Workers’ Party on Sunday to discuss national tasks that were decided upon at a key party meeting last week.
Yoon says opposition’s push for greater parliamentary power ‘highly unconstitutional’
President Yoon Suk-yeol and the ruling People Power Party are set on a collision course with the main opposition Democratic Party of Korea over the Democratic Party’s push to revise the National Assembly Act, which would give lawmakers the right to amend presidential and prime ministerial decrees.
The Korea Times (http://www.koreatimes.co.kr)
Conflict intensifies between labor and management over peak wage system
Tensions between management and labor unions have been growing, following a recent Supreme Court ruling that the current peak wage system is tantamount to age-based discrimination as it cuts wages after a certain age without a rational reason, according to industry officials. Unionized workers at large companies are demanding the abolition of the peak wage system, while management insists on maintaining the measure, claiming it is needed to hire more young workers as the country's population continues to age.
N. Korean nuclear test will be met by united, firm response from US, S. Korea: ministers
South Korean Foreign Minister Park Jin and his U.S. counterpart Antony Blinken on Monday urged North Korea to refrain from staging additional provocations including a nuclear test, saying that they will only further isolate the impoverished country. The top diplomats also said North Korean provocations will be met with a strong response.
First lady opposes dog meat consumption
First lady Kim Keon-hee called for animal rights in her first media interview given since her husband, President Yoon Suk-yeol, took office on May 10. "Korea and China are the only two economically successful countries that consume dog meat," Kim said during an interview with local newspaper Seoul Shinmun that was published on Monday. "I believe the universal culture (of not consuming dog meat) should be shared in Korea with other developed countries. Otherwise, it could stoke an anti-Korean sentiment," Kim said.
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
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