Headlines, October 1, 2018

Monday, October 1, 2018

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

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

Hyundai Heavy under probe due to suspected excessive price slashing

The Fair Trade Commission (FTC) is investigating officials of the Hyundai Heavy Industries, the top shipbuilder of the Republic of Korea (south), on the suspicion of excessively cutting payments for parts supplied by its subcontractors. This was reported by Yonhap and other Korean-language news media in Seoul on Oct. 1, 2018. According to the sources, the FTC dispatched investigators to Hyundai Heavy's main office in Ulsan, 410 kilometers southeast of Seoul, to collect evidence on any wrongdoing.

Chairman Yu has immense interest in the happiness, welfare of all peoples as well as Koreans

Former Prime Minister Lee Soo-sung said, “What the artists of the world should pursue is the spiritual world of the souls and peace.” Then he said “I wish that Korea will be a country free from wars and the three countries, namely Korea, China and Japan, will live in peace like blood-sharing brothers.” Prime Minister Lee made the statement at the opening ceremony of the National Unification Grand Art Exhibition at Hanguk Misul Gwan (Korea Art Gallery) in Seoul on Sept, 15. 2018 which was hosted by Chairman Yu Jae-hack of the the World Cleansing Mind Welfare Foundation and the World Humankind Cleansing Mind Movement.

Turkmenistan formulates, ensues approaches for global security

Turkmenistan is a competent member of international politics as one of active UN-member states, makes its significant contribution to consolidate international community efforts in countering the threats against humanity, especially terrorism and radicalism. The President of Turkmenistan Gurbanguly Berdimuhamedov underlines that, countering terrorism acquires strategic significance on the agenda of multilateral cooperation of Turkmenistan within Community of Nations along with global tasks in ensuring security such as disarmament and non-proliferation, transport and energy, environment and several other aspects defined by the UN Sustainable Development Goals.

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

S. Korean President Attends Armed Forces Day Events

Amid improving relations between Pyongyang and Seoul, South Korea's Armed Forces Day calendar does not include a military parade typical of previous years. Instead, South Korean President Moon Jae-in attended several events to honor the country's military. Kurt Achin has more. Report: On this 70th anniversary of Korea’s Armed Forces Day, President Moon Jae-in welcomed war veterans and military officials to the presidential complex.

Koreas Begin Removing Mines Along Border

South and North Korea began eliminating mines along their borders on Monday, in line with an accord they reached during the latest inter-Korean summit. Once the mine-removal work is completed, the two Koreas are set to actively launch efforts to disarm the Joint Security Area and excavate remains of soldiers killed during the Korean War. Our Bae Joo-yon has more. The two Koreas have begun removing land mines in the Joint Security Area(JSA) and parts of the Arrowhead Ridge within the demilitarized zone in Cheorwon, Gangwon Province.

S. Korea, Japan at Odds over Rising Sun Flag

Japan remains defiant in its plans to display a symbol that evokes painful memories during an upcoming naval review. Host South Korea is requesting the Japanese Navy not to fly the so-called Rising Sun flag, but Japanese officials insist it will be hoisted even though the Japanese ships will be in Korean waters.

Lee Bo-kyung has more. Report: For Koreans, the sight of Japan's Rising Sun flag conjures instantaneous historical memories of its use by Imperial Japanese soldiers as they subjugated Koreans under brutal colonial rule. The flag was retired after Japan's defeat in World War Two, except for the Japan Maritime Self-Defense Force, where it continues to be flown on naval vessels.

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

Two Koreas begin DMZ landmine removal work

The two Koreas on Monday began their work to remove landmines in parts of the Demilitarized Zone (DMZ) separating them, in line with a recent agreement to reduce tensions and prevent accidental clashes, Seoul's defense ministry said. After the latest summit between President Moon Jae-in and North Korean leader Kim Jong-un in Pyongyang last month, the two countries' defense chiefs signed the agreement fleshing out the military part of the April Moon-Kim summit declaration, which promised to halt "all hostile acts" against each other and practically eliminate the danger of war.

Trump sees no need to fix timeline for N.K. denuclearization

U.S. President Donald Trump said Wednesday he sees no need to set a timeline for North Korea's denuclearization as long as the regime has stopped its nuclear testing. Speaking in a press conference in New York, Trump said he doesn't want to be drawn into a "time game" over how long it will take to dismantle the North's nuclear weapons and ballistic missile programs. "If it takes two years, three years or five months, doesn't matter. There's no nuclear testing, and there's no testing of rockets," he said at the end of his visit to the United Nations General Assembly.

S. Korea holds ceremony for repatriation of 64 war remains

South Korea on Monday held a solemn ceremony marking the repatriation of the remains of 64 soldiers who were killed in North Korea during the 1950-53 Korean War. President Moon Jae-in presided over the repatriation ceremony at Seoul Air Base in Seongnam, 40 kilometers south of Seoul, with the attendance of top military and government officials and religious leaders, including Defense Minister Jeong Kyeong-doo and U.S. Forces Korea Commander Gen. Vincent Brooks. Escorted by a fleet of F-15K and FA-50 fighter jets, the remains arrived at Seoul Air Base on Sunday afternoon aboard a South Korea Air Force transport plane from Hawaii.

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

Two Koreas begin removing landmines inside DMZ

The militaries of the two Koreas on Monday began removing small portion of landmines scattered across the heavily fortified border area, as part of the agreement reached during last month’s summit in Pyongyang to ease tension and build trust. According to the South Korean military, the removal operations took place at two sites inside the Demilitarized Zone: the Joint Security Area at the border village of Panmunjom and Arrow Head Hill in mountainous Gangwon Province.

S. Korea, US still apart over defense cost sharing

The US needs to understand that joint military exercises between South Korea and the US are mutually beneficial, a South Korean official said Monday, amid ongoing negotiations over the allies’ defense cost sharing. “It is true that the joint military exercises are helpful for (South Korea’s) security. But the joint military exercises are not benefitting South Korea unilaterally and they are rather mutually beneficial for both countries,” said the official from the Foreign Ministry on condition of anonymity.

Concerns rising over weakening manufacturing sector

Concerns are rising over the weakening of the country’s manufacturing industries, which are suffering the effects of deteriorating conditions at home and abroad. Data released last week by Statistics Korea showed that the manufacturing capacity index -- which measures the maximum possible level of production through the full use of manpower, facilities and other input factors -- had declined for five consecutive months as of July, from 102.9 to 102.6. The annual average figure for 2015 is set at 100.

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

Will Nobel Peace Prize go to Moon, Kim?

Will the Nobel Peace Prize go to South Korean leader Moon Jae-in? What about North Korean leader Kim Jong-un or the two leaders together? They two men are garnering international attention with the Norwegian Nobel Committee set to announce this year's winner on Friday (local time). Moon and Kim are among 331 nominees for the prestigious prize this year ― 216 individuals and 115 groups. Also included is U.S. President Donald Trump.

A gift from Kim Jong-un: Pungsan dogs

North Korean leader Kim Jong-un presented South Korean President Moon Jae-in with two well-bred Pungsan dogs to mark the leaders' latest meeting in Pyongyang last month, the presidential office said Sunday. The animals, named Songkang and Gomi, recently cleared quarantine and are living at the presidential residence, according to Cheong Wa Dae. The dogs two were born in 2017. Moon already owns a Pungsan dog named Maru, so he will have three pets that can trace their lineage to the North.

Ulsan Police Agency bans after-hours private contact with subordinates

Ulsan Police Agency has banned its officials from making private after-hours contact with subordinates, especially the opposite sex, as part of efforts to prevent abuse of power and sexual violence.

It is the first police agency in South Korea to adopt such a rule. The move follows female officials' collective complaints in August about after-hours private contacts from male senior officials, many of which were unwanted invitations to dinners or other private events. The six-point ordinance bans one-to-one contact by phone, text message and social networking services and the repeated sending of unrequested documents. But it restricts nothing between same-sex officials or in group chat rooms.

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

Next USFK Chief Casts Doubt on Inter-Korean Military Deal

The next commander of the U.S. Forces Korea on Tuesday cast doubt on an inter-Korean military deal that would result in the withdrawal of soldiers from the demilitarized zone. Gen. Robert Abrams told the U.S. Senate Committee on Armed Services that all activities in the DMZ are under the jurisdiction of the UN Command, which the USFK commander also heads. President Moon Jae-in and North Korean leader Kim Jong-un last week agreed to withdraw 11 guard posts each from the DMZ by year's end and disarm the Joint Security Area in the border truce village of Panmunjom.

Ulsan Police Agency bans after-hours private contact with subordinates

Ulsan Police Agency has banned its officials from making private after-hours contact with subordinates, especially the opposite sex, as part of efforts to prevent abuse of power and sexual violence. It is the first police agency in South Korea to adopt such a rule. The move follows female officials' collective complaints in August about after-hours private contacts from male senior officials, many of which were unwanted invitations to dinners or other private events.

North Korea pushes forest restoration

North Korea is going all out to restore its forests. The Workers' Party of Korea (WPK) publication Rodong Sinmun Sunday pointed out some "under-performing" areas, calling for officials to achieve substantial results. In an editorial titled "It is necessary to be a thorough enforcer of the party policy to innovate forest restoration projects," the newspaper took Mundok County in South Pyongan Province as an exemplary region that is successfully executing the party's reforestation plan. Other regions were accused of performing poorly.

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

Pompeo declares “dawn of a new day” for North Korean denuclearization issue

US Secretary of State Mike Pompeo called for denuclearization actions from North Korea in remarks on Sept. 27 at the UN, declaring the “dawn of a new day” on the North Korean nuclear issue. With his remarks ahead of a Pyongyang visit next month, Pompeo stressed before the gathered countries of the world at the UN General Assembly that North Korea should choose between a “brighter future” or a future of isolation through sanctions. On Sept. 27, Pompeo presided over a meeting of UN Security Council nation ministers on the topic of North Korea at the UN headquarters in New York.

South Korea requests exemptions to sanctions at UN General Assembly

Exemptions to international sanctions on North could be applied “flexibly in short-term, tactical areas according to the situation,” a senior South Korean government official said on Sept. 28. The message was a call from Seoul to maintain the broader framework of North Korea sanctions while allowing some exemptions as needed for inter-Korean exchange and cooperation. Meeting with South Korean correspondents in New York that day, the senior official responded to a question on Seoul’s position regarding Washington’s emphasis on keeping North Korea sanctions in place.

Half of South Korea’s conglomerate heirs marry within chaebol community

A new survey has found that up to half of the second generation (children) from chaebol families married partners from within the chaebol community. While marriages into political or official families accounted for only 7.4%, a one-third reduction from their parents’ generation. The survey, conducted by corporate evaluation company CEO Score and released on Sept. 27, looked at the marriages of family members in the top 100 Korean conglomerates headed by a single figure (including divorces and second marriages), finding that pairings between individuals within the corporate world accounted for almost half of all marriages in both the first and second generations of chaebol families.

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

N. Korea calls for end-of-war declaration in New York

North Korea’s Foreign Minister Ri Yong Ho demanded that Washington officially declare the end of the war at the United Nations General Assembly on Saturday (local time), saying that “Without any trust in the U.S., there will be no confidence in our national security, and under such circumstances, there is no way we will unilaterally disarm ourselves first.” Ri also called for the easing of sanctions, which he said are “deepening our mistrust.”

Hyundai Motor to supply 1,000 hydrogen trucks to Switzerland

Hyundai Motor will supply a total of 1,000 fuel cell electric trucks to Europe over the next five years. In the IAA Commercial Vehicles Show in Hanover, Germany, the largest South Korean automaker signed a memorandum of understanding (MoU) with H2 Energy (H2E), a Swiss hydrogen company, for the supplies of 1,000 hydrogen trucks.

Samsung Electronics to sell its medical instrument arm to Japan

Samsung Electronics is selling its medical equipment company to Japan. Jun Dong-soo, head of Samsung Electronics’ medical device unit and CEO of Samsung Medison, reportedly told his employees at a briefing on Wednesday on the sales of in vitro diagnostics (IVD) business. “We’re in the process of reviewing transferring our IVD business to a Japanese company specializing in IVD devices,” Samsung Electronics said.

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

Pyongyang pushes back at U.S. at UN

Pyongyang will not unilaterally denuclearize without corresponding trust-building measures from Washington, North Korean Foreign Minister Ri Yong-ho told the United Nations in New York on Saturday. “Without any trust in the U.S., there will be no confidence in our national security, and under such circumstances, there is no way we will unilaterally disarm ourselves first,” said Ri in a speech at the UN General Assembly, as the two countries are working toward a second North-U.S. summit and putting back on track a return to stalled denuclearization talks.

Removal of land mines in the DMZ to begin today

The two Koreas will begin removing landmines and explosives from both the Joint Security Area (JSA) north of Seoul and a part of the demilitarized zone (DMZ) in Cheorwon County, Gangwon, starting today, in keeping with a military pact signed during the inter-Korean summit earlier this month. The operation to remove landmines from areas around the inter-Korean truce village of Panmunjom in the JSA will run through Oct. 20, according to the Ministry of National Defense Sunday. Removal of mines from Arrowhead Ridge, or Hill 281, in Cheorwon, the site of battles during the 1950-1953 Korean War, will also kick off today and run through Nov. 30.

Duty-free on arrival set for Incheon next year

The country’s first duty-free store available to returning travelers will open at Incheon International Airport as early as next May, the Finance Ministry announced Thursday. Currently, duty-free purchases are allowed only for passengers departing Korea, either at an international airport or in advance at city locations with the goods available for pick-up at the departure terminal.

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

Samsung's Scheme to Break up the Union Uncovered: A New Perception of the Basic Labor Rights Are Required

North and South Korea will begin removing landmines from the demilitarized zone (DMZ) on October 1. This is the first item in the Agreement on the Implementation of the Panmunjom Declaration in the Military, which the two Koreas signed at the inter-Korean summit in Pyongyang. This will also be the first action taken among the items that the two Koreas agreed on during the Pyongyang summit on September 19. The Ministry of National Defense announced that the United Nations (UN) Command fully understood the details of the latest military agreement.

The Two Koreas to Remove Mines in the DMZ Next Month: First Implementation of Inter-Korean Military Agreement

"All state authority shall emanate from the people." This is Article 1, Section 2 of the Constitution, which became well known after the people sang the words at the candlelight demonstrations last year. The sentence means that the country belongs to the people. But not everyone can personally run the state. That is why we elect representatives and delegate power. This is the government. Thus in a democracy, the people are the "principals" and the government is the "agent." However, sometimes the interests of the principal and the agent can differ, and problems can occur when the agent takes actions that go against the interests of the principal. This is the principal-agent problem that has long been studied in politics and economics, and the relationship of the shareholder and corporate management is an often-cited example.

Real Estate Policy and the Votes of the Homeowners

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

S. Korean companies secure financing deal for wind power project in Jordan

Two South Korean energy companies have signed a financing agreement worth 80 billion won ($72 million) for the construction of a wind power complex with a capacity of 51.75 megawatts in the Tafilah region in Jordan. Daelim Energy, a Seoul-based energy and infrastructure development company, and Korea Southern Power (KOSPO), a public energy company, agreed in 2015 to jointly participate in the $101 million wind power project in Jordan and set up Daehan Wind Power, which is responsible for financing, sales of power and licensing.

S. Korean researchers develop biometric identification tool for PC

A South Korean state research institute has developed a server technology that enables personal computers (PCs) to use voice, fingerprints and other biometrics as user identification tools. Using different kinds of biometrics to gain access to important data or user information has become a norm in the era of smartphones. Such identification methods rely on sensors fitted into smart devices, and many PC users still use a combination of passwords and encrypted keys to protect vital information and data.

S. Korea's top mobile carrier develops on-demand AI movie scene search technology

South Korea's top mobile carrier SK Telecom has developed a new scene search technology which uses artificial intelligence (AI) to match keywords requested by service users in finding movie and TV drama scenes. The new technology called "AI media recommendation" works like a web search engine. When users search for certain scenes, SK Telecom's AI analyzes movies and sorts short scene clips into categories such as a kiss scene to show matching results.

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

Korea’s biggest shopping extravaganza kicks off on Friday

Korea Sale Festa (KSF), South Korea’s equivalent of Black Friday, will take place from Sept. 28 to Oct. 7, with major retailers to offer a wide selection of deals at some of the lowest prices of the year. Now in its third year, KSF is a week-long shopping bonanza launched by the Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism aimed to draw locals and tourists through deep discounts in various retailers including department stores, hypermarkets, online stores and traditional markets.

CJ, Samsung Electro-Mechanics, Coway’s Q3 OPs to hit record high

South Korea’s CJ Corp., Samsung Electro-Mechanics Co. and Coway Co. that are enjoying their monopolistic position in respective markets in the country are expected to report record high quarterly operating profit in the third quarter, according to local financial data provider FnGuide on Wednesday. Seoul-based FnGuide forecast that as many as 20 companies in Korea are poised to deliver record high quarterly operating profit in the third quarter ending Sept 30 this year and of them, eight firms are expected to enjoy operating profit of more than 100 billion won ($89.6 million).

Fed’s rate hike to have limited impact on Korean mkt: BOK chief

Bank of Korea Governor Lee Ju-yeol anticipated a limited impact of the U.S. Federal Reserve’s latest rate hike on the Korean financial markets, but admitted the widening gap between the two countries’ key rates would complicate the Korean central bank’s rate decision. “The Fed’s rate hike was widely expected and its outlook was also in line with expectation,” Lee said during his meeting with local reporters on Thursday after the U.S. Fed raised the benchmark rate for the third time this year to 2.0 percent-2.5 percent overnight. “It would have a limited impact on the Korean financial market.”

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