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The Korean daily media headlines and humor

기사승인 2018.02.13  12:04:57

공유
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The Korean daily media headlines and humor

Tuesday, February 13, 2018

Your Excellency:

Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

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Round-up of important news stories from major Korean dailies today:

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.

Ex-tax agency chief arrested over NIS funds

A former chief of the National Tax Service (NTS) was arrested early Tuesday for suspected involvement in the state spy agency's secret operation against late President Kim Dae-jung during the previous Lee Myung-bak government.The Seoul Central District Court issued the warrant for Lee Hyun-dong, who served as the NTS commissioner from 2010-2013, on charges of bribery and loss of state funds. It said that his charges are acknowledged and that he presents a flight risk. Prosecutors filed for a writ on Friday, and an arraignment hearing was held on Monday.Lee, 62, is accused of taking 6 million won (US$553,000) from the National Intelligence Service (NIS) in 2010 to carry out the operation aimed at uncovering a Kim slush fund rumored to be hidden overseas. Such a provision of NIS funds to the tax agency is illegal, as the money had been specifically allotted for North Korea-related intelligence operations.

N. Korea's summit offer builds pressure on Moon

North Korean leader Kim Jong-un's surprise invitation to South Korean President Moon Jae-in to visit Pyongyang has created additional pressure for the South to be tough with the provocative regime. Moon responded cautiously, saying that the two sides should build the conditions for a future summit. The liberal leader has long embraced a policy of engagement with Pyongyang to peacefully end the impasse over its nuclear and ballistic missile programs. The United States, meanwhile, has adopted a tough stance under President Donald Trump to ensure the North does not develop the capability to strike the U.S. with a nuclear weapon.

Kim Jong-un vows to continue reconciliation between Koreas

North Korean leader Kim Jong-un pledged efforts to continue the reconciliatory mood with South Korea as he welcomed back a high-ranking North Korean delegation from their trip to the PyeongChang Winter Olympics in South Korea, the North's state-run news agency said Tuesday."It is important to continue making good results by further livening up the warm climate of reconciliation and dialogue created by the strong desire and common will of the North and the South with the Winter Olympics as a momentum," Kim was quoted in English by the Korean Central News Agency (KCNA) as saying in a meeting with the delegation. Wrapping up their trip last week, the delegation led by Kim Yong-nam, the chairman of the Presidium of the North Korean assembly, reported details of their South Korean visit to Kim, the KCNA said. Kim Yo-jong, the leader's powerful sister, relayed her brother's invitation to South Korean President Moon Jae-in to visit the North during her trip to the South as a member of the delegation.

Moon urges the young to face challenge without fear of failure

President Moon Jae-in on Monday urged young adults to take on challenges, noting many may fail, but they may learn more from failure than success."The future of you, who are about to embark on a new journey, cannot always be smooth. You may face failure and frustration. I want you to keep in mind that sometimes failure can be a more valuable experience than success," the president said in his congratulatory remarks at the graduation ceremony of the state-run Ulsan National Institute of Science and Technology."What makes us (stop trying) is never the failure itself. Unless we lose hope because of failure, failure can rather be the driving force that can make us grow," he added.

Men's hockey players wary of Olympic pressure after watching women's loss

While the joint Korean women's hockey team was taking a beating against Switzerland at the PyeongChang Winter Olympics on Saturday, their male brethren was taking note. The unified team fell 8-0 to Switzerland, and head coach Sarah Murray and her players blamed the huge loss on nerves. After all, this was a young team -- 22 years old on average, the youngest in the tournament -- playing in its first Olympics. And members of the men's team who watched it unfold on television said first-game jitters could get to them too. "They looked really nervous out there. Maybe the pressure of playing in the Olympics got to them," said men's forward Cho Min-ho, after his team's first practice at Gangneung Hockey Centre in Gangneung, site of its group stage games. "Watching them, I felt like we have to be really prepared mentally for our own games," Cho added. "We should try to relax for our first game. But the pressure of playing in the Olympics on home ice will always be there."

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KBS (http://world.kbs.co.kr/english/news/)

Kim Jong-un Receives Report from N. Korean Delegation on Olympic Tour

North Korean leader Kim Jong-un has been briefed by the high-level delegation dispatched to South Korea for the PyeongChang Winter Olympics.In the meeting with the delegation on Monday, Kim reportedly said that it is important to continue building good results by further livening up the warm climate of reconciliation and dialogue created by South-North dialogue during the Olympics. The North's official Korean Central News Agency(KCNA) said on Tuesday that Kim issued directions on ways to improve inter-Korean relations and ordered related authorities to produce follow-up measures.The KCNA said that Kim expressed satisfaction after the briefing and appreciated South Korea's warm reception and support for the North Korean delegates during their stay.

Food Summit in Pyeongchang Showcases Unique Flavors of Hansik

Anchor: On the sidelines of the PyeongChang Winter Olympics, South Korea is holding a two-day Global Food Summit, sharing the unique flavors of Korean cuisine. South Korea's agriculture minister has pledged efforts to promote healthy food and to support food security around the world through humanitarian aid.Oh Soo-young has this report.Report: South Korea is showcasing the diverse flavors and health benefits of hansik, or Korean cuisine, to visitors from around the world attending the PyeongChang Olympic Winter Games.The Ministry of Agriculture, Food and Rural Affairs opened a food summit on Monday at the Olympic host city, inviting experts from all over the globe to discuss the future of the food industry and next-generation technologies for food production.

Joint Korean Taekwondo Performance Held at Seoul City Hall

Taekwondo athletes from South and North Korea have put on a joint performance in Seoul. The hour-long taekwondo demonstration, including a ten-minute joint session, was held at Seoul City Hall on Monday afternoon in front of an audience of around 250 people, including Choue Chung-won, head of the Seoul-based World Taekwondo, and Ri Yong-son, head of the Pyongyang-based International Taekwondo Federation. It marked the third show of its kind since the North Korean team arrived in the South to celebrate the PyeongChang Winter Olympics. The two previous ones were held during the opening ceremony of Winter Games last Friday and in Sokcho, Gangwon Province on Saturday. The North Koreans will return to the North after a fourth joint performance to be held at MBC in Sangam-dong in western Seoul on Wednesday.

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

GM to close one S. Korean plant by May on lower demand

General Motors Co. will shut down one of its four plants in South Korea by the end of May due to a drop in demand, the local unit of the global company said Tuesday. The plant to be closed is in Gunsan, 274 kilometers south of Seoul."The performance of our operations in South Korea needs to be urgently addressed by GM Korea and its key stakeholders. As we are at a critical juncture of needing to make product allocation decisions, the ongoing discussions must demonstrate significant progress by the end of February, when GM will make important decisions on next steps," GM Executive Vice President Barry Engle said in a statement. GM has five production facilities in South Korea -- four car assembly plants and one transmission factory.

Sporting rivals on collision course for 1st win in women's hockey

The long and storied sporting rivalry between Korea and Japan will add a new chapter this week when their women's hockey teams collide at the PyeongChang Winter Olympics, with each seeking its first victory.The joint Korean team and Japan have both lost their first two games and have been eliminated from medal contention in Group B. Only the top two teams from that group advance to the quarterfinals, and Sweden and Switzerland, with two victories apiece, will make it to that stage.Korea and Japan have been relegated to the classification round, and the best they can do is finish fifth in the eight-team tournament. But first things first: each team will look to get its first Olympic win ever at the expense of the other, starting at 4:40 p.m. on Wednesday at Kwandong Hockey Centre in Gangneung.

Moon presides over Cabinet video conference for first time

President Moon Jae-in presided over a Cabinet video conference Tuesday for the first time since taking office, with some ministers attending from the presidential office and others from the central administrative city of Sejong.Forty-one Cabinet members, including Foreign Minister Kang Kyung-wha and Unification Minister Cho Myoung-gyon, joined Moon at Cheong Wa Dae for the meeting, while 19 other members, including Prime Minister Lee Nak-yon, attended it from Sejong."As this meeting will be livestreamed to officials of Cheong Wa Dae, it would be possible for them to share exact policy directions," Lee Jung-do, presidential secretary for administrative affairs, said ahead of the meeting.Through the video conference system, it is also possible to hold a three-way meeting between the presidential office, the central government complex and the Sejong government complex, Lee said, adding that Cheong Wa Dae plans to actively take advantage of the system for efficiency.

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

Kim Jong-un vows to continue reconciliation between Koreas

North Korean leader Kim Jong-un pledged efforts to continue the reconciliatory mood with South Korea as he welcomed back a high-ranking North Korean delegation from their trip to the PyeongChang Winter Olympics in South Korea, the North's state-run news agency said Tuesday."It is important to continue making good results by further livening up the warm climate of reconciliation and dialogue created by the strong desire and common will of the North and the South with the Winter Olympics as a momentum," Kim was quoted in English by the Korean Central News Agency as saying in a meeting with the delegation.

General Motors to shut down Gunsan plant in South Korea

General Motors has decided to permanently close its plant in Gunsan, North Jeolla Province, South Korean unit said Tuesday, calling it the “first step for necessary restructuring.”The US carmaker will stop production and close the plant by the end of May.The production capacity of the plant has remained under 20 percent over the past three years, the company said.It manufactures GM’s mid-sedan Cruise and SUV brand Orlando. In its emailed announcement, Barry Engle, president of GM International, said the carmaker is going to make “important decisions on next steps” by the end of February, urging the key stakeholders to make progress in the ongoing discussions.

N. Korea says high-level visit to S. Korea was meaningful

North Korean state media said Monday that its high-level delegation returned from a trip to South Korea that was “meaningful” in improving inter-Korean relations.The North Korean delegation led by its ceremonial head of state Kim Yong-nam arrived in Pyongyang late Sunday night after a three-day visit to the South to attend the opening of the PyeongChang Winter Olympics. North Korean leader Kim Jong-un’s sister Kim Yo-jong delivered to President Moon Jae-in her brother’s letter and invitation to Pyongyang.The latest trip by the high-level delegation served as an important occasion in improving relations between North and South Korea, and setting up an environment for peace on the Korean Peninsula,” said the Rodong Sinmun, North Korea’s main newspaper published by its ruling party.

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

GM to close one S. Korean plant by May on lower demand

General Motors Co. will shut down one of its four plants in South Korea by the end of May due to a drop in demand, the local unit of the global company said Tuesday.The plant to be closed is in Gunsan, 274 kilometers south of Seoul."The performance of our operations in South Korea needs to be urgently addressed by GM Korea and its key stakeholders. As we are at a critical juncture of needing to make product allocation decisions, the ongoing discussions must demonstrate significant progress by the end of February, when GM will make important decisions on next steps," GM Executive Vice President Barry Engle said in a statement.

US urged not to freeze Olympic thaw

The United States is apparently unhappy with President Moon Jae-in's push to resolve the North Korean nuclear issue with dialogue, but it faces growing calls not to throw cold water on the hard-earned conciliatory mood between the two Koreas.Experts say the hawkish U.S. stance shows Washington's frustration and impatience over the North Korea issue which is moving faster than a controllable pace. They say such an attitude won't help resolve the nuclear issue or strengthen the alliance with the South.During his whole visit here last week for the PyeongChang Winter Olympics opening ceremony, U.S. Vice President Mike Pence only reiterated the U.S. stance to impose maximum pressure and sanctions on the North until the latter shows sincerity in giving up its nuclear and missile ambitions.

Women's ice hockey team routed again

There was no drama whatsoever last night. The odds-on favorite Sweden reached the semifinals after crushing Team Korea 8-0.Sweden scored four goals in the first period. Following forward Maja Lylen Persson's shorthanded goal, Elin Lundberg, Johanna Fallman and Erica Uden Johansson each scored a goal. Korean forwards Randi Heesoo Griffin, Lee Jin-gyu and Park Yoon-jung made shots at the Swedish net but goalie Sara Grahn stopped them. Sweden bagged one more goal in the second period, while the unified hockey team remained scoreless as Grahn grabbed the puck hit by the Koreans every time later in the period. Sweden was more effective than Korea. In the second period, for example, Sweden took nine shots at the goal, whereas Korea took eight. Even so, Korea's numerous shots did not produce any goals.

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Chosun Ilbo (http://english.chosun.com)

Kim Jong-un's Sister Returns to Hero's Welcome in Pyongyang

North Korean leader Kim Jong-un's sister Yo-jong returned to a hero's welcome from South Korea on Sunday. The official Rodong Sinmun carried pictures on the front page every day of Kim Yo-jong talking or standing with President Moon Jae-in. It was the first time the Workers Party organ has ever published a picture of Moon. The North Korean delegation to the Pyeongchang Winter Olympics was welcomed back by honor guards at Pyongyang Sunan International Airport on Sunday night.They were greeted by senior party officials and military brass such as Foreign Minister Ri Yong-ho, Kim Yong-chol, the head of the United Front Department and Armed Forces Minister Pak Yong-sik.

N.Korean Ship Returns Without Refueling

The Mangyongbong-92, a North Korean ship that had transported an orchestra to South Korea for performances marking the Winter Olympics in Pyeongchang, left Mukho port in Gangwon Province on Saturday without taking on any fuel supplies. The day before its departure, the North withdrew an earlier request for fuel to the South Korean government, according to the Unification Ministry. The North made the request right after the ship's arrival on Feb. 6. The ministry had originally intended to provide fuel for the ship as it did during the Busan Asian Games in 2002 but changed its mind after it was pointed out that this could violate international sanctions against the North. South and North Korean officials kept discussing the matter for four days but failed to agree on conditions. "It seems that during the talks the North decided not to take on fuel in order not to cause any trouble to the South," a ministry official said.

NBC 'Sorry' for Comments About Japan at Olympics Opening

U.S. broadcaster NBC apologized Sunday for remarks by a pundit at the opening of the Winter Olympics in Pyeongchang that downplayed Japan's brutal colonial rule of Korea. When the camera captured Japanese Prime Minister Shinzo Abe in the VIP stands during Friday's ceremony, rent-a-quote Joshua Cooper Ramo said Japan is "a country which occupied Korea from 1910 to 1945, but every Korean will tell you that Japan is a cultural, technological and economic example that has been so important to their own transformation."NBC's website and social networks were duly inundated with criticism and calls for an apology for the inappropriate and insensitive remark. NBC at one point blocked access from Korea.

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HanKyoReh Shinmun (http://english.hani.co.kr)

Invitation for third inter-Korean summit marks dramatic change

The proposal for a “third inter-Korean summit” that North Korean leader Kim Jong-un had his younger sister Kim Yo-jong, first vice director of the central committee of the North Korean Workers' Party (KWP), deliver to South Korean President Moon Jae-in is a striking change that would have been unimaginable just 40 days ago.The fact that we met is very important. South and North Korea should work together to turn the sparks of this meeting into a torch,” Moon said to Kim Yong-nam, the president of the Presidium of the North Korean Supreme People's Assembly, before the beginning of a performance by the Samjiyon musical performance group that was held at the Haeoreum Theater at the National Theater of Korea on Nam Mountain in Seoul on the afternoon of Feb. 11.

Possible inter-Korean summit depends on US-North Korean dialogue

Affairs on the Korean Peninsula are in flux as the Pyeongchang Winter Olympics bring rapid progress in inter-Korean relations. Given the increasing likelihood of a third inter-Korean summit following North Korean leader Kim Jong-un’s invitation for South Korean President Moon Jae-in to visit the North, attention is focusing on how the major regional powers will respond to these developments. The fact that Kim Jong-un has played the card of an inter-Korean summit – one of the most powerful cards at his disposal – shows how seriously he takes recent developments on the Korean Peninsula. If the military tensions and the “war of words” between North Korea and the US that escalated last year continue this year, even the North would be put in a tight spot, given the pressure and sanctions imposed by the international community. Kim’s choice of a summit, which would be the fastest way to fully restore inter-Korean relations, can be seen as signaling that North Korea will accept some degree of change in order to escape sanctions and pressure.

Kim Yo-jong’s visit leaves positive impression for inter-Korean relations

Kim Yo-jong, the younger sister of the North Korean Workers' Party Chairman Kim Jong-un and also the first vice director of the central committee of the North Korean Workers' Party (KWP), visited South Korea for the Winter Olympics as a sort of "special envoy" along with Kim Yong-nam, the president of the Presidium of the Supreme People's Assembly. They returned to North Korea on Feb. 11 after a stay of three days and two nights.Kim Yo-jong's presence attracted extraordinary attention because it was the first visit to the South since the Korean War by a member of the Kim Il-sung dynasty. Since her arrival at Incheon International Airport on Feb. 9, she has been reserved in public, but her ready bright smile has left a positive impression on everyone who has seen her. Wearing little makeup and dresses, jackets, skirts, or slacks in plain black, gray, or white, she presents an unadorned, tidy look.

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JoongAng Ilbo (http://koreajoongangdaily.joins.com/)

President wobbling on tightrope

South Korean President Moon Jae-in was involved in a lot of diplomacy on the sidelines of the Winter Olympic Games, but concerns are being raised that he failed to achieve a balance in his dealing with North Korea and the United States. It is rare for the president of a country hosting a multilateral event to spend so much time with a delegation from one country, as Moon did with North Korea’s, and so little with a major ally. Moon met with U.S. Vice President Mike Pence four times during his stay in Korea from Thursday to Saturday, but their meetings were conspicuously brief. Moon hosted a reception and dinner for Pence on Thursday, and they had a brief encounter during the pre-opening reception on Friday for five minutes. Later in the evening, they attended the opening ceremony together, and on Saturday they watched women’s short-track speed skating game for 37 minutes.

Pence says talks with Pyongyang could be possible

.S. Vice President Mike Pence indicated that he and President Moon Jae-in came to some agreement behind the scenes that could lead to direct talks without preconditions between Washington and Pyongyang after the Winter Olympics. Pence maintained a hard-line stance on the North during his visit to Japan and South Korea, but the Washington Post reported Sunday that based on assurances by President Moon, the vice president felt confident Washington could endorse post-Olympics engagement with Pyongyang. Interviewed aboard Air Force Two after wrapping up his Asia trip, Pence said that through substantive conversations with Moon during this trip, the United States and South Korea agreed on terms for further engagement with the North, first initiated by South Korea and then shortly after by the United States.

The point is, no pressure comes off until they are actually doing something that the alliance believes represents a meaningful step toward denuclearization,” Pence was quoted as saying by the newspaper. “So the maximum pressure campaign is going to continue and intensify. But if you want to talk, we’ll talk.”

Samsung SDI searches for ways around cobalt

Battery maker Samsung SDI is trying to cut cobalt use in its lithium-ion batteries as cobalt prices soar, the company said Monday. Cobalt is a core material in the cathodes in lithium-ion batteries used to power electric cars and mobile phones. According to Samsung SDI, international cobalt prices have been on the rise due to years of civil war in the Democratic Republic of the Congo, which accounts for 60 percent the world’s cobalt production. Prices also rose as the market for electric cars grew. Cobalt prices skyrocketed by about 235 percent year on year from $34,600 per ton in January last year to $81,360 last month, Samsung SDI said. The Korean battery maker has been trying to cope with the price hikes by signing long term supply agreements with cobalt suppliers and by amending contract terms with its customers so that increased cobalt prices can be reflected in battery prices.

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The KyungHyang Shinmun (http://english.khan.co.kr/)

We Welcome Kim Jong-un's Proposal for a North-South Korea Summit

Kim Jong-un, chairman of the Workers' Party of Korea suggested that President Moon Jae-in visit Pyongyang for a summit. On February 10, during a visit to Cheong Wa Dae, Kim Yo-jong, first deputy director of the Workers' Party of Korea said, "He is willing to meet President Moon in the near future. We ask that you visit North Korea at a convenient time," and delivered a message from Chairman Kim. Kim Yo-jong also delivered a letter that revealed that she was the special envoy of Chairman Kim. President Moon answered, "Let us create the environment and hold the summit."If President Moon meets Kim Jong-jun, it will be the third inter-Korean summit. If he visits North Korea within the year, it will be the first meeting of the leaders of North and South Korea in eleven years. In order to seek reconciliation and cooperation between North and South Korea, to establish peace on the Korean Peninsula, and to resolve the North Korean nuclear issue, the summit must be held.

GM Asks the South Korean Government for Help after Its Failure in Management

U.S. automaker General Motors (GM) asked the South Korean government for help after business deteriorated in GM Korea, a subsidiary. In mid-January, Barry Engle, the new president of GM International met with officials of related ministries including the Ministry of Strategy and Finance, explained the overall management situation at GM Korea, and sought cooperation. Even details of what kind of support GM sought from the South Korean government for GM Korea were mentioned. Word has it that GM demanded the government to take part in the capital increase on condition that GM assign the manufacturing of new models to GM Korea and to provide tax support by designating the location of GM Korea as a foreign investment area. If the government takes part in the capital increase, the Korea Development Bank, the second largest shareholder of GM Korea, will have to provide about 510 billion won.

Politicians Support "Me Too": Justice Party Releases an Apology

The "Me Too" movement is spreading to the political circle. A progressive party voluntarily released a sexual assault incident that had occurred within the party and vowed to prevent recurrence, while the ruling Minjoo Party of Korea decided to educate its lawmakers on sexual awareness.On February 8, Justice Party leader Lee Jeong-mi held a press conference at the National Assembly and announced, "Many incidents of sexual assault had occurred within the Justice Party, which aims to achieve gender equality," and explained that the party ended up forcing the victim to suffer secondary damages in the process of handling a sexual assault case in the party. She added that the party suspended the person responsible for the incident from her position.The person subject to such disciplinary measures was Jang, the leader of a feminist group in the party. Jang was involved in handling a sexual assault case involving Kim, a party member who was assaulted by Gwon, the former leader of the party's Student Youth Committee. Kim, who came to know Gwon through a social network site, informed the party that she was sexually assaulted by Gwon, and the party expelled Gwon after an internal investigation. In the process, Jang only met Gwon, listened to his side of the story, and forced Kim to suffer secondary damages by spreading negative assessments of Kim.

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AJU Business Daily (http://eng.ajunews.com/korea)

N. Korea's Kim demands 'practical' measures to improve cross-border ties

North Korean leader Kim Jong-un demanded "practical" measures to improve inter-Korean relations, expressing satisfaction over a landmark trip by a high-level delegation to the Winter Olympics in South Korea, the North's state media reported Tuesday.Kim received a report from the North's delegation, which returned home Sunday after a three-day stay in South Korea, and said that "very impressive were the features of the south side which specially prioritized the visit", according to the North's official Korean Central News Agency (KCNA). "Noting that it is important to continue making good results by further livening up the warm climate of reconciliation and dialogue created by the strong desire and common will of the north and the south with the Winter Olympics as a momentum, he set forth in detail the orientation of the improvement of the north-south relations and gave important instructions to the relevant field to take practical measures for it," the leader was quoted as saying.

Lineup shakeup no help for joint Korean team

A major lineup shakeup provided zero help for the joint Korean women's hockey team on Monday, as it was shut out for the second straight game at the PyeongChang Winter Olympics.Korea was routed by Sweden 8-0 at Kwandong Hockey Centre in Gangneung, suffering its second consecutive 8-0 loss after Switzerland manhandled the team last Saturday. Korea head coach Sarah Murray juggled her lineup and kept only her top line intact from the previous game.For starters, Murray replaced North Korean forward Jong Su-hyon with Kim Un-hyang on the second line. She also moved North Korean blueliner Hwang Chung-gum up to the third pairing next to South Korean Cho Mi-hwan. A third North Korean, forward Ryo Song-hui, made her Olympic debut as a fourth line forward.

S. Korea's car production regresses in 2017

Struck hard by slow sales at home and abroad, especially in the United States, South Korea's car production regressed for two years in a row, industry data showed Monday.According to the Korea Automobile Manufacturing Association's (KAMA), South Korea's total auto production was down 2.7 percent on-year to 41.1 million in 2017. In terms of production, South Korea stood 6th in the world with Mexico on its heels with 40.6 million units.KAMA said that production was affected by internal factors such as an individual consumption tax and rising household debts. "There also was a setback caused by strikes in some companies," a KAMA official told Aju News.KAMA has released a gloomy outlook for South Korea's auto industry. "Our prospect for this year remains the same as one released at the end of 2017," a KAMA official said.

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

S. Korea’s underground economy accounts for 19.8% of GDP: IMF paper

The size of South Korea’s underground economy accounted for 19.8 percent of the country’s gross domestic product (GDP) in 2015, dropping by almost 10 percentage points from 24 years ago, showed a recent study by the International Monetary Fund. According to an IMF working paper on “Shadow Economies Around the World: What Did We Learn Over the Last 20 Years” published last month, Korea’s underground economy is estimated to have accounted for 19.83 percent of its GDP in 2015, down from 29.13 percent in 1991. In the paper, the IMF defined underground, or shadow economy to include all economic activities that are “hidden from official authorities for monetary, regulatory, and institutional reasons,” such as avoiding paying taxes and governmental bureaucracy. It excludes illegally produced goods and services such as from drug dealing and other criminal activities as well as activities for self-consumption purposes.

Korea’s auto output retreats for second straight year in 2017

South Korea, the world’s sixth largest auto manufacturing nation, logged lower output for the second year in a row last year amid slackening sales at home and abroad. The country churned out total 4,114,913 cars - excluding those assembled overseas - last year to secure its position as the world’s sixth largest car producer. But its rank looks shaky amid close chase by Mexico, according to a report released by Korea Automobile Manufacturers Association on Monday. Korea’s automobile yield shrank 2.7 percent compared to a year earlier. Its gap with Mexico, world’s No. 7 car manufacturer, narrowed to 46,498. Mexico produced 4,068,415 cars last year, up 13.0 percent from a year ago.

S. Korea’s E1 launches pilot service of connected car commerce platform

South Korea’s liquefied petroleum gas (LPG) importer E1 Corp. has launched a pilot service of its connected car commerce platform that authorizes digital identification to vehicles to allow drivers to use their cars as a payment method at gas stations. E1 said on Monday that the service - which has been launched jointly with BC Card, Lotte Card, and KT Corp. - will be offered at two E1 gas stations in Gwacheon, Gyeonggi, for a trial run. E1 formed a consortium with the three companies and Smartro in November last year for the development. When an LPG vehicle driver arrives at one of the two smart gas stations, the connected car commerce platform recognizes the vehicle without the driver having to install a separate location recognition equipment. The platform allows the driver to charge gas without a verbal order and pay and save points on their credit or loyalty cards without presenting the plastic cards.

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What’s ticking around the world at this second?

See what the world media around the world have to report:

USA Today www.usatoday.com aallman@gannett.com

The New York Times www.nytimes.com inytletters@nytimes.com

Wall Street Journal www.wsj.com support@wsj.com,service@wsj-asia.com

Financial Times www.ft.com ean@ft.com

The Times www.thetimes.co.uk help@timesplus.co.uk

The Sun www.thesun.co.uk talkback@the-sun.co.uk

Chinese People's Daily www.people.com.cnkf@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.comlithuania@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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The publisher-chairman of The Korea Post media is serving the Diplomatic Community for more than 40 years, 32 years with The Korea Post and 10 years with The Korea Herald as the Cultural Editor who covered the Diplomatic Community.

For quick response, call Chairman Lee directly at 010-5201-1740 or reporters at 010-3388-1682 or 010-7584-5873.

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Lee Kyung-sik edt@koeapost.com

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