Monday, July 18, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
LG teams up with multi-platinum singer Jeremy Zucker
LG Electronics and multi-platinum singer-songwriter Jeremy Zucker announced a collaboration to create an exclusive content series capturing a behind-the-scenes look during his upcoming concert tour across Europe including the UK in July, the company said on July 13. Recently named the ambassador for LG’s innovative products, Zucker will be sharing his life, thoughts and music as he travels for the concerts, enthralling audiences with his heartfelt vocals and self-penned songs at every stop along the way.
Korea, China hold FTA follow-up negotiations on service and investment
Korea-China FTA service and investment follow-up negotiations were held at chief delegate-level on July 13 via teleconferencing, the Ministry of Trade, Industry and Energy (MOTIE) said on July 13. MOTIE’s chief FTA negotiator Lee Kyung-sik led the Korean delegation, and Director-General Yu Benlin of China’s Department of International Trade and Economic Affairs led the Chinese delegation, adding up to 20 attendees in total.
State visit of the President of Turkmenistan to Uzbekistan
On July 14, 2022, the President of Turkmenistan left for a two-day state visit to the Republic of Uzbekistan. Having made a flight to Tashkent, the presidential airliner landed at the Islam Karimov International Airport. At the airstairs of the plane, President Serdar Berdimuhamedov was warmly and cordially welcomed by the Prime Minister of the Republic of Uzbekistan Abdulla Aripov, as well as other officials and members of the government delegation of Turkmenistan.
Chosun Ilbo (http://english.chosun.com)
Experts Recommend Freezing Eggs Before 35
Many single women around the world are having their eggs frozen, but experts recommend doing it before they hit 35. According to figures from fertility clinic CHA Medical Center, some 1,194 single women here had their eggs frozen last year, a two-fold increase from 2020. A decade ago, fewer than 10 women had their eggs frozen. Frozen eggs can be stored for more than 20 years.
Hyundai Unveils New Ioniq 6 EV as Busan Int'l Motor Show Kicks off
Hyundai is unveiling its new all-electric vehicle, the Ioniq 6, at the Busan International Motor Show, which opens in the southern port city on Friday. The automaker told reporters at a media event on Thursday that pre-orders will begin on July 28 and sales will start in September. The Ioniq 6 comes in two versions -- standard and long-range.
U.S. Lawmaker Condemns Forcible Repatriation of N.Koreans
A prominent U.S. lawmaker on Tuesday condemned South Korea's forcible repatriation of two North Korean fishermen in November 2019 who were later reportedly executed by the regime. Representative Christopher Smith, who co-chairs the House's Tom Lantos Human Rights Commission, made the statement after South Korea's Unification Ministry released a dozen photos of the two men desperately resisting being handed over to North Korean border guards.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
Samsung may be abandoning its own chip for Galaxy S23
Samsung Electronics may be abandoning its own smartphone processor in favor of a Qualcomm Snapdragon chip, the latest questioning of the company’s ability to design and manufacture advanced processors. Multiple analysts and tipsters are predicting that for the upcoming Galaxy S23 series, set to be released early next year, the company has chosen Qualcomm's Snapdragon 8 Gen 2 from Taiwan’s TSMC over Samsung's own Exynos 2300,
Former security chief denies fishermen repatriations were done to appease North
A former Blue House security official denied Sunday that Seoul repatriated two North Korean fishermen in 2019 at Pyongyang's behest, hitting back at claims that their deportation was done to appease North Korea.“There was no request from North Korea to repatriate these vicious criminals first,” said Chung Eui-yong, former chief of the National Security Office (NSO), in a public statement released through Democratic Party (DP) lawmaker Yoon Kun-young that echoed the DP’s earlier descriptions of the fishermen as dangerous felons.
Making Itaewon: The evolution of Seoul's most diverse neighborhood
Itaewon in central Seoul is one of Korea's best-known neighborhoods, famous as a hub of multiculturalism and one of the best places in the city for dining and nightlife. But while Itaewon's international reputation is well-established, few visitors are familiar with the neighborhood's history. Itaewon for years has cultivated a reputation as being right in the center of Seoul yet somehow culturally separate, nurturing a more open-minded image with a large foreign population and restaurants and bars catering to people from all around the world.
The Dong-A Ilbo (http://english.donga.com/)
‘Inflation will continue until next year,’ IMF forecasts
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), projected that the present inflation led by soaring energy and food prices will continue until next year and concerns over consequent global economic recession will accelerate as well.
Parliament speaker suggests constitutional amendment for unity
National Assembly Speaker Kim Jin-pyo said on Sunday, “We will seek constitutional amendment designed to unify the public,” suggesting anew the need for constitutional revision. However, the ruling People Power Party immediately expressed objection, saying, “Now is not the time to discuss constitutional amendment.”
Biden asks Saudi Arabia to produce more oil but no announcement yet
U.S. President Joe Biden, who criticized the world’s largest oil producer Saudi Arabia’s human rights suppression, visited the country for the first time since his inauguration to break away from the inflation crisis from high oil price but failed to get a desired answer. Criticisms are strong over such move by Biden who placed efforts with his relationship with Saudi Arabia’s de facto ruler,
Maeil Business News Korea (http://www.pulsenews.co.kr/)
USD/KRW breaches another threshold on fears of faster tightening and recession
The South Korean currency lost another threshold versus the U.S. dollar despite repeated verbal and dollar-buying intervention, retreating to 1,320 won, a level last seen in April 2009, and calling the attention of President Yoon Suk-yeol in command of “preemptive risk-managing actions.” The Korean won closed Friday at 1,326.10 per U.S. dollar, the weakest closing since April 29, 2009.
Korea’s June import price index up 0.5% and eclipses export price to flag worsening deficit
South Korea’s import prices rose for the second straight month in June amid rising oil prices, overriding exports value to flag worsening trade balance and outlook for trade-reliant economy. According to the Bank of Korea Friday, the import price index came to 154.84 in June when converted to the Korean won, up 0.5 percent from the previous month and 33.6 percent from the same month a year ago.
Korean retailers’ deteriorating cash flow bodes badly for stock and financial outlook
South Korea’s retail giants Lotte Shopping, Shinsegae, and Hyundai Department Store have come under great pressure to earn investors’ confidence in their outlook amid their rapidly deteriorating cash flow. The three retail majors are expected to deliver better income statements this year against a year-ago period. But brokerages point to their worsening cash flow.
HanKyoReh Shinmun (http://english.hani.co.kr)
China’s mounting corporate debt could spell crisis
The stories about COVID-19 that had dominated headlines until recently have been replaced by ones about inflation. Concern over high prices has been growing as the prices of oil and raw materials rise steeply along with labor costs. Many countries that increased liquidity to stabilize prices in the course of overcoming the COVID-19 crisis are now tightening their monetary supply and rapidly raising key interest rates.
Yoon’s tantrum-filled two months as president
“To let you in on a piece of refreshing news amidst the sweltering heat, it’s only been two months since President Yoon Suk-yeol began his term,” a friend messaged our group chat, sending their regards. Another friend replied, “Ugh, stop. That makes the heat feel worse.” When the B-cuts from Yoon and the first lady’s trip to the NATO summit were released, my friends and I immediately knew that the staffer who had picked them was probably a boomer whose sense of humor still remained stuck in the early to mid-1990s.
Energy provides Russia with crucial leverage for outlasting opponents in war
Amid indications that the war in Ukraine will become prolonged, the focus of conflict is shifting from the battlefields of Ukraine to the energy war between Russia and the West. Russian state-owned energy company Gazprom said on Wednesday that it could not guarantee the stable functioning of the Nord Stream 1 pipeline carrying gas to Germany because of issues with the supply of gas turbines.
The KyungHyangShinmun (http://english.khan.co.kr/)
An Oil Slick Found in the Part of Yongsan Base Open to the Public, Along with Traces of Poor Management of Monitoring Wells, Allowing Toxic Substances to Evaporate
An oil slick was discovered in a part of the Yongsan Park site, which the government opened to the public as a demonstration project last month. The oil slick was found inside a monitoring well, which is believed to have been dug by the U.S. Forces Korea to inspect the ground water in the past. The monitoring well is a hole used to collect samples to measure the water level and water quality of the ground water. Environmental groups criticized the government for hastily opening the contaminated site without any proper cleanup operations.
President Yoon’s Approval Rating at 33%, While 54% of the People Believed the Penalty Against Lee Jun-seok Was a “Political Decision”
President Yoon Suk-yeol’s approval rating recorded 33%, dropping lower than the negative views against him in the last two weeks, according to a survey released on July 14. President Yoon’s approval ratings were lowest among respondents in their twenties and forties. More than half of the respondents said that the disciplinary action against People Power Party leader Lee Jun-seok was the result of a political decision.
BOK Governor Rhee Chang-yong to People who Took out Excessive Loans to Buy Houses, “Adjustments to Home Prices Are Inevitable. Consider the Risks”
Rhee Chang-yong, the governor of the Bank of Korea, asked people in their twenties and thirties who took out excessive loans to purchase homes to take caution. The central bank’s Monetary Policy Board decided to take the first ever big step and raise the base interest rate 0.50% in a meeting on July 13. This pushed the interest rate up from 1.75% to 2.25%.
KBS(http://world.kbs.co.kr/service)
Fourth COVID-19 Vaccine Shot Available to More People from Monday
Amid a resurgence of COVID-19, the fourth vaccine shot will be available to more people from Monday, including those aged 50 and older and people aged 18 and older who have underlying health conditions. According to quarantine authorities, patients and workers at facilities vulnerable to the virus, such as nursing homes and homeless shelters, are also eligible for the second booster shot from Monday. Previously, only people aged 60 and older and people with weakened immune systems were eligible for the fourth COVID-19 vaccine shot.
Lee Jae-myung Declares Bid for DP Chairmanship
Rep. Lee Jae-myung of the main opposition Democratic Party(DP) has declared his bid for the party's chairmanship. The former presidential candidate of the party made the announcement on Sunday in a press conference at the National Assembly. Lee said he would change everything about the party except the name until people say it is enough, and the beginning of the change would be to make the DP a winning party.
S. Korea, Japan to Hold Foreign Ministers' Talks in Tokyo
The first foreign ministers' talks between South Korea and Japan since the launch of the Yoon Suk Yeol government will be held on Monday. Foreign minister Park Jin will visit Japan on Monday afternoon for talks with his Japanese counterpart Yoshimasa Hayashi in Tokyo. It will be the first time the two have met for bilateral talks since Park took office. Previously, they held talks in May, when Hayashi visited Seoul to attend President Yoon Suk Yeol's inauguration ceremony.
Yonhap (http://english.yonhapnews.co.kr)
Presidential office hits back at ex-FM Chung over repatriation of N.K. fishermen
The office of President Yoon Suk-yeol immediately struck back at former Foreign Minister and National Security Adviser Chung Eui-yong on Sunday after he defended the previous administration's 2019 repatriation of two North Korean fishermen against their will. Chung said earlier Sunday the then government of President Moon Jae-in determined the North Koreans' expression of a desire to defect as insincere and decided to deport them, as they had confessed to killing 16 fellow crew members.
Ex-presidential candidate Lee declares bid for DP chairmanship
Rep. Lee Jae-myung, a former presidential candidate of the main opposition Democratic Party (DP), declared his bid for party chairmanship Sunday, promising to carry out sweeping reforms to make the DP a "winning" party. "I will change the Democratic Party, politics and the world. The beginning of that is to make the DP a winning party," Lee said during a press conference at the National Assembly. "I will change everything except the DP's name until people say it is enough."
S. Korea to push to exempt taxes on foreigners' investment in gov't bonds
South Korea will push to exempt taxes on interest income and capital gains from foreigners' investment in government bonds and monetary stabilization bonds in a bid to help stabilize the debt market, the finance minister has said. Finance Minister Choo Kyung-ho made the remarks on the details of the government's planned tax code revision at a meeting with reporters Saturday (local time) in Bali on the sidelines of a Group of 20 (G-20) gathering of finance chiefs.
The Korea Herald (http://www.koreaherald.com)
Court to question university freshman arrested in rape, death of schoolmate
A freshman at Inha University in Incheon, west of Seoul, appeared at a court Sunday to answer questions over charges that he raped a female schoolmate and caused her to fall to her death. "I am sorry," said the 20-year-old suspect wearing a cap and a mask upon arrival at the Incheon District Court when reporters asked him if he has anything to say to the victim.
Weak won set to persist with US intent on more rate hikes
The South Korean won could further depreciate against the US dollar in months to come as long as the US backs aggressive monetary tightening to fight raging inflation, analysts said, as the Korean currency weakened to a 13-year low of 1,326.1 won per US dollar Friday. The breach of the 1,300 won psychological threshold
Foreign minister to hold first bilateral talk with Japan this week
South Korean Foreign Minister Park Jin will hold his first bilateral talk with his Japanese counterpart this week to discuss ways to improve the long-strained bilateral ties during his visit to Japan, the South Korean Foreign Ministry said on Sunday. It would be the foreign minister’s first official trip to Japan after the inauguration of the Yoon Suk-yeol administration in May.
The Korea Times (http://www.koreatimes.co.kr)
Lee Jae-myung declares bid for DPK chairmanship
Rep. Lee Jae-myung of the main opposition Democratic Party of Korea (DPK) declared his bid for the party's chairmanship, Sunday, in what is widely viewed as a move to increase his clout within the party to secure his candidacy for the next presidential election. Although a comfortable win is anticipated for the former presidential candidate, Lee faces the tough task of resolving a fractional strife within the party between those who support him and lawmakers loyal to former President Moon Jae-in.
Time not on Korea's side for better relations with Japan
The foreign ministers of Korea and Japan will sit face to face later this week for the first time in four years and seven months, offering a glimmer of hope of a thaw in chilled ties between the neighboring countries over wartime forced labor and territorial issues. However, the timing of Foreign Minister Park Jin's trip to Tokyo does not seem perfect for Korea to restore the frayed relations, which is one of President Yoon Suk-yeol's foreign policy goals, amid an increasing number of domestic issues within Japan that are significantly related to its ties with Korea.
Biden's realism approach runs head-on into liberal pressure
On restoring access to abortion, President Joe Biden says his hands are tied without more Democratic senators. Declaring a public health emergency on the matter has downsides, his aides say. And as for gun violence, Biden has been clear about the limits of what he can do on his own. ''There's a Constitution,'' Biden said from the South Lawn in late May. ''I can't dictate this stuff.''
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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