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Headlines, October 4, 2018

기사승인 2018.10.04  17:25:05

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Thursday, October 4, 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.

Foreign ministers of Korea, Latvia sign an Air Traffic Agreement

On Sept. 28, 2018, during the 73rd session of the United Nations General Assembly in New York, the Minister of Foreign Affairs, Edgars Rinkēvičs, met with the Minister of Foreign Affairs of the Republic of Korea, Kang Kyung-wha. The parties discussed bilateral relations between both countries and current developments on the North Korea’s nuclear disarmament issue. An Air Traffic Agreement between Latvia and South Korea was signed at the meeting, which is expected to promote cooperation in tourism.

Govt nuclear power phase-out plan to push buying cost by 11%

The energy policy of the government of President Moon Jae-in of South Korea to phase out nuclear reactors is expected to increase the nation’s electricity purchase cost by 11% by the year 2030. This was disclosed by a Korean government report on Oct. 3, 2018. Since President Moon took office in May last year, he has pledged to close atomic power plants gradually and increase the ratio of renewable energy to 20% by 2030. The new energy policy has raised worries that reduced dependence on coal and nuclear power and the still high production costs of renewable energy could lead to higher electricity costs.

Woori FIS fined for suspected law violation

The Fair Trade Commission (FTC) of the Republic of Korea in Seoul, the Korean corporate watchdog, announced on Oct. 4, 2018 that they have decided to impose KWN134 million (US$118.800) in fines on Woori FTC, an ICT firm affiliated with major banking service group, the Woori Bank, on charges of suspected violation of subcontracting-related laws.

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

160 S. Koreans Depart for Pyongyang for Summit Anniversary Event

large group of South Koreans have departed for North Korea for a joint event to mark the eleventh anniversary of the October Fourth Declaration. About 160 delegates left for Pyongyang for a three-day trip on Thursday morning via a direct flight route over the Yellow Sea. The South Korean delegation, headed by Unification Minister Cho Myoung-gyon, will take part in the joint commemorative event, which will be the first since the declaration was reached between President Roh Moo-hyun and North Korean leader Kim Jong-il in 2007.

Pompeo Refuses to Set Timeline for N. Korea Denuclearization

Secretary of State Mike Pompeo says the U.S. would like to see a quick dismantlement of North Korea's nuclear weapons program but will not commit to a specific timeline. Pompeo made the remarks in a news conference at the State Department on Wednesday ahead of departing for his fourth trip to Pyongyang on Sunday to meet with North Korean leader Kim Jong-un. Pompeo told reporters that the previously stated goal of getting North Korea to abandon its nuclear weapons by the end of President Donald Trump's first term in January 2021 was not his comment.

S. Korea's FX Reserves Hit Fresh Record in Sept.

South Korea's foreign exchange reserves rebounded to reach a record high in September. According to the Bank of Korea on Thursday, the total value of the country's foreign exchange reserves came to 403 billion dollars last month, up one-point-87 billion dollars from a month earlier. The nation's foreign exchange reserves had set record highs for five straight months from March to July before marking a decrease in August.

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

S. Korean delegation embarks on Pyongyang trip for summit anniversary

A group of South Korean government officials, politicians and civic and religious leaders left for North Korea on Thursday to take part in an event to jointly celebrate the anniversary of the 2007 inter-Korean summit. A delegation of 160 people led by Unification Minister Cho Myoung-gyon and ruling Democratic Party (DP) leader Lee Hae-chan embarked on a three-day trip to Pyongyang via the western direct air route across the border.

Pompeo refuses to set timeline for N.K. denuclearization

The United States would like to see a quick dismantlement of North Korea's nuclear weapons program but won't commit to a specific timeline, U.S. Secretary of State Mike Pompeo said Wednesday. Pompeo will travel to Pyongyang Sunday to meet with North Korean leader Kim Jong-un over a possible second summit with U.S. President Donald Trump and efforts to denuclearize the regime. He said he is "very happy" to be going back to make progress on a denuclearization agreement reached by the two leaders at their historic first summit in Singapore in June.

Court to decide on ex-police chief's arrest warrant

A Seoul court held a hearing on Thursday to decide whether to issue an arrest warrant for a former police chief on charges of masterminding cyber maneuvers to benefit a previous conservative government. Cho Hyun-oh, ex-National Police Agency commissioner-general, appeared for the arraignment at the Seoul Central District Court. He is accused of having mobilized at least 1,500 police officers to write some 33,000 Internet comments while he was in office from 2010-2012, in an effort to help form positive public views of then-President Lee Myung-bak's government.

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

Ex-CEO’s ‘secret sale’ of rice burger chain sparks dispute

Former Bongousse Rice Burger CEO Oh Seh-rin has sparked controversy after he reportedly sold the company to popular Korean fried chicken chain NeNe Chicken without giving prior notice to franchise owners. NeNe Chicken recently acquired the burger franchise and replaced Oh with the current CEO Hyun Cheol-ho last month, a company official said Wednesday. With less than $100, Oh reportedly started out as a street food vendor in front of Dongwon High School and Dongwoo Girls’ High School in Suwon, Gyeonggi Province, in 2011.

S. Korea ranks world 3rd in debt-to-GDP ratio growth: data

South Korea has seen one of the fastest expansion paces for its household debt against its gross domestic product this year, despite a series of policy actions focused on lending restrictions, data showed Wednesday. According to data compiled by the Bank for International Settlements, Seoul’s household debt was equal to 95.2 percent of its GDP as of end-March this year, up 2.3 percentage points from a year prior. This growth rate marked the third fastest among 43 key economies across the world, following China’s 3.7 percentage points and Hong Kong’s 3.5 percentage points.

Driven by design, quality, Hyundai and Kia’s sales in Europe to surpass 1m units this year

Still considered young brands, South Korean carmakers Hyundai and Kia are expected to sell more than 1 million vehicles in Europe this year, 41 years after they entered the continent home to car manufacturers aged more than 100 years old. In the January-August period, the two carmakers under Hyundai Motor Group sold a total of 715,050 passenger vehicles in Europe, according to the European Automobile Manufacturers Association. Hyundai saw a steep growth in sales in the same period, selling 378,834 vehicles, a 9.8 percent on-year increase. Kia sold 336,216 vehicles, a 5.9 percent on-year increase.

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

My trip to Pyongyang: Finding South Korea there

This is the first part in a three-part series about travel in North Korea. As the shaky Antonov An-148 aircraft descended, it was nothing but North Korea below us, or so I thought. With the plane trundling up to the terminal at Pyongyang Sunan International Airport, I glanced out of the window to see the Taegukgi ― South Korea's national flag. It was painted on the side of a massive 747 awaiting its VIP passenger, President Moon Jae-in, who was there for a three-day summit with North Korean leader Kim Jong-un.

Rohingya crisis more than just condemning the military: Myanmar scholars

Ongoing media coverage of the plight of Rohingya Muslim refugees from Myanmar (also known as Burma) has been heavy in condemning Myanmar military forces for allegedly attempting ethnic cleansing and forcing hundreds of thousands of them to flee across the border into Bangladesh. This resulted in the United Nations Human Rights Council (UNHRC) forming an international body to investigate the country's Rakhine State to collect evidence of the military's atrocities and possibly prosecute responsible Myanmar generals.

Ex-Japanese PM apologizes to Korean victims of atomic bombings

Former Japanese Prime Minister Yukio Hatoyama paid tribute Wednesday to the Koreans killed by the U.S. atomic bombings of two Japanese cities in 1945 and apologized for his country's failure to compensate surviving victims and their families. The center-left leader from 2009-2010 became the first Japanese statesman to visit a memorial house in Hapcheon, 350 kilometers south of Seoul, for the Korean victims of the atomic explosions in Hiroshima and Nagasaki, which ended World War II. Historians say about 40,000 Koreans died in the inferno and some 30,000 survivors suffered from aftereffects.

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

N.Korean Hackers Steal Hundreds of Millions of Dollars

North Korean hackers have stolen hundreds of millions of dollars from major banks in at least 11 countries over the past four years, cyber security experts said Wednesday. They have siphoned off money from banks and nongovernmental organizations in Brazil, Mexico, Russia, the U.S. and Vietnam among others.

Staff of cybersecurity firm FireEye told a forum in Washington that the hacking group, which it has dubbed Advanced Persistent Threat 38, is the biggest and most dangerous in the world and seems to have started operating in February 2014, about a year after the UN Security Council imposed sanctions against the North in March 2013.

Korea Has Nearly 4,000 Centenarians

Some 3,358 women and 550 men in Korea were over 100 as of last November, Statistics Korea said Monday. The figure was a record, up 422 from 2016 and 8.5 times more than when relevant statistics started in 1990. A noticeable change is that the proportion of male centenarians has gone up. They made up 9.8 percent in 2000 but 14.1 percent last year, which is higher than Japan's 11.9 percent.

N.Korea Hones Cyberheists into 'Almost Perfect Weapon'

While the world's attention is focused on North Korea's nuclear and missile programs, it has developed its hacking skills into "an almost perfect weapon" and earns as much as US$1 billion a year from cyberheists, The New York Times reported on Sunday. The North has more than 6,000 hackers trained to steal secrets and money from foreign governments and companies, the daily quoted a U.S. intelligence expert as saying.

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

Former Japanese prime minister reflects on issue of sex slaves at Pusan National University

While visiting Pusan National University (PNU) to receive an honorary doctorate of political science, former Japanese Prime Minister Yukio Hatoyama, 71, responded to South Korean President Moon Jae-in’s recent suggestion during a meeting with Japanese Prime Minister Shinzo Abe in New York that the Reconciliation and Healing Foundation should be effectively abolished. “The Japanese government needs to restart deliberations about its agreement with the South Korean government over the comfort women [sex slaves] for the Japanese Imperial Army,” Hatoyama said during a press conference held on the university’s third floor on Oct. 2.

Ratings for US president in South Korea on the rise after NK-US summit

US President Donald Trump ranked lowest for confidence among leaders of major countries including China, Russia, and the United Kingdom, opinion poll results show. The US’ image was also found to have fallen sharply among allies in Europe since Trump took office. But in South Korea’s case, confidence in Trump has risen significantly in the wake of a North Korea-US summit in June. The Pew Research Center, a specialized US public opinion research institution, published findings on Oct. 1 on confidence in the leaders of the US and other major nations as rated by 26,000 respondents in 25 countries.

Russian ship allowed to leave Busan port after investigation on UN sanction violations

On Oct. 2, the South Korean government allowed a Russian ship that is under US sanctions on North Korea to leave port after initially suspending its departure. The government explained that it had given the ship, which docked at the port of Busan in mid-August, permission to leave because its investigation into whether the ship had violated sanctions against North Korea had not turned up any credible charges.

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

U.S. Secretary of State Pompeo to visit Pyongyang on Oct. 7

U.S. Secretary of State Mike Pompeo will travel to North Korea on October 7, earlier than expected, to meet with its leader Kim Jong Un, sparking expectation that Washington could take measures in October at the earliest, including the proposed end-of-war declaration, in return for r Pyongyang’s permanent scrapping of its nuclear facility in Yongbyon.

Typhoon Kong-rey heads toward Jeju

Typhoon Kong-rey, the 25th tropical storm of the year, is expected to penetrate Jeju Island over the weekend as it is heading north. The Korea Meteorological Administration (KMA) said Kong-rey is moving in a similar direction as Typhoon Chaba, which left 10 people killed or missing in South Korea in 2016. The Kong-rey was formed near Guam on Saturday and is currently located 620 kilometers south-southeast of Okinawa, Japan, moving northwest at a speed of 169 kilometers per hour, according to the KMA.

Rockies’ Oh Seung-hwan pitches scoreless relief outing

Rockies right-hander Oh Seung-hwan pitched a scoreless outing in his major league postseason debut. In the wild card game between the Colorado Rockies and the Chicago Cubs held at Wrigley Field in Chicago Tuesday, the South Korean reliever stood on the mound in the bottom of the 10th, when the score tied at 1-1, and tossed 1 2/3 scoreless innings, giving up no hits and two walks while striking out one.

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

Pompeo to fly into Pyongyang Sunday

U.S. Secretary of State Mike Pompeo will make his fourth trip to Pyongyang this year to meet with North Korean leader Kim Jong-un Sunday, the State Department announced Tuesday, as a second summit between the countries’ two leaders is in the works. The U.S. State Department said in a statement that Pompeo will make a four-country Asia trip kicking off Saturday, which will take him to Tokyo, Pyongyang, Seoul and Beijing.

Typhoon Kong-rey is bringing rain over weekend

Typhoon Kong-rey is expected to bring heavy rains and strong winds to the southern regions and soak the entire country this weekend, according to the weather forecast agency. The Korea Meteorological Administration announced Wednesday that Kong-rey, which developed from the Western Pacific island of Guam last Saturday and recently passed waters off Okinawa in the southern part of Japan, will reach the coastal waters of Korea’s southernmost Jeju Island Friday morning, affecting inland Jeju that night.

Shipbuilders are starting to sign some big orders

Korean shipbuilders are starting to get orders for big ticket ships like liquefied natural gas tankers. Hyundai Heavy Industries (HHI) inked a $210 million order from Norwegian shipper Knutsen NYK Offshore Tankers (KNOT) to build two shuttle tankers for delivery after June 2020, the company said Monday. Shuttle tankers transport oil from offshore oil fields. The Korean company will start building the tankers from next year at its headquarters in Ulsan.

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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

"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.

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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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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 Herald www.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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The Korea Post is running video clips from the different embassies.
Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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http://www.koreapost.com/news/articleView.html?idxno=7463

Lee Kyung-sik edt@koreapost.com

<저작권자 © 코리아포스트 무단전재 및 재배포금지>
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