Headlines, November 15, 2018

기사승인 2018.11.15  14:32:27


Thursday, November 15, 2018

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

The Korea Post media ( in English, ( in Korean.

U.S., N. Korea expected to reschedule high-level talks soon: envoy

South Korea's ambassador to the United States said on Nov. 14, 2018 that he expects the U.S. and North Korea to soon reschedule last week's canceled high-level talks.The planned New York meeting between U.S. Secretary of State Mike Pompeo and his North Korean counterpart, Kim Yong-chol, was abruptly postponed due to what the U.S. called scheduling issues.

CJ emerges as No. 1 employer among top conglomerates

Food and entertainment giant CJ Group has emerged as the largest employer among the top 30 business groups in South Korea over the past year, a corporate tracker said on Nov. 15, 2018. CJ's workforce stood at 26,565 as of the end of September this year, up 28.2 percent, or 5,849 employees, from a year earlier, according to a report from CEO Score, which tracks corporate management.

Samsung seeks to take up 20 pct of global 5G network equipment in 2020

Samsung Electronics Co. aims to control 20 percent of the global market for fifth-generation (5G) network equipment in 2020, the head of the company's network business has said. During a session from The Wall Street Journal D.Live Conference held in California on Nov. 14, 2018, Samsung Electronics President Kim Young-ky claimed that the company is not a newcomer to the network equipment industry as it has been supplying products in this field for the past 20 years.



US: S. Korean Firms to Plead Guilty to Rigging US Military Fuel Bids

hree South Korean companies have reportedly agreed to pay a total of 260 billion won for their involvement in a bid-rigging scheme supplying fuel to U.S. Forces Korea bases. The U.S. Justice Department announced on Wednesday that SK Energy, GS Caltex Corporation, and Hanjin Transportation will plead guilty to criminal charges for their role in a conspiracy to fix the price of fuel sold to U.S. military bases in South Korea.

595,000 Students to Take College Entrance Exam

The annual College Scholastic Ability Test(CSAT) is set to be held at one-thousand-190 test sites across the nation on Thursday, with some 595-thousand students taking this year’s college entrance exam. The CSAT will begin with the Korean language exam at 8:40 a.m. It will be followed by the math, English, Korean history and science portions. The fifth and final foreign language exam will end at 5:40 p.m.

US Congress Report Suspects Loose Chinese Sanctions on N. Korea

A bipartisan U.S. congressional panel suspects Beijing is not implementing sanctions on North Korea as hard as it did in the past. According to Bloomberg, the U.S.-China Economic and Security Review Commission released an annual report Wednesday that said the Chinese government “appears to have already started to loosen enforcement of sanctions” on the North.


Yonhap (

Korean-American Andy Kim elected to U.S. Congress

Korean-American Democrat Andy Kim has been elected to the U.S. House of Representatives, local media reported Wednesday, becoming the first Korean to serve in Congress in 20 years. Kim, 36, won a seat in the 3rd congressional district in New Jersey with 49.9 percent of the vote, beating incumbent Republican Rep. Tom MacArthur, who garnered 48.8 percent.

China eases enforcement of sanctions on N. Korea: U.S. report

China has begun to ease the enforcement of sanctions on North Korea despite pledging to maintain pressure until the regime gives up its nuclear weapons program, a U.S. Congress-related report showed Wednesday. The U.S.-China Economic and Security Review Commission noted in its annual report that China had implemented sanctions more thoroughly than in the past between early 2017 and early 2018.

S. Korean businesspeople abroad to visit Pyongyang this week

Dozens of South Korean business leaders based overseas will visit Pyongyang this week, a related ministry here said Wednesday. The Ministry of Unification, which handles inter-Korean ties, approved the applications by 80 businesspeople and 17 other officials belonging to the World Federation of Korean Association of Commerce to make a four-day trip to the North's capital from Thursday.


The Korea Herald (

Moon asks Moscow to play bigger role in prompting denuclearization steps from Pyongyang

Russian President Vladimir Putin on Wednesday hinted that sanctions on North Korea should be eased, in a meeting with President Moon Jae-in in Singapore, Cheong Wa Dae said. “President Putin said that if North Korea’s denuclearization measures have advanced, there should be corresponding measures,” Cheong Wa Dae spokesperson Kim Eui-kyeom said. The comment falls in line with Moscow’s stance that some sanctions on North Korea could be eased in light of recent developments.

Moon extends condolences over Laos dam accident

President Moon Jae-in on Wednesday extended his condolences to the people of Laos over an accident at a dam construction site in July that resulted in multiple fatalities. Speaking during a meeting with Laotian Prime Minister Thongloun Sisoulith, Moon promised further aid to support the recovery efforts and the rebuilding of the dam.

Ratio of unredeemed student loans edges up in 2017

The ratio of South Korea's unredeemed student loans rose in 2017 for the first time amid the country's unstable job market, government data showed. According to data from the National Tax Service, 14.5 billion won ($12.8 million) in student loans that should be repaid after borrowers' employment was not paid back last year, accounting for 8.1 percent of the total of such loans, tallied at 179.4 billion won.


The Korea Times (

Bolton speaks of second summit with NK

U.S. National Security Adviser John Bolton, Tuesday, reaffirmed Washington's willingness for a second summit with North Korea. This raised speculation that North Korea and the United States are preparing to hold their second summit sometime early next year, seeking a breakthrough in their stalled discussions on complete denuclearization of the Korean Peninsula.

Two Koreas to hold meeting to discuss aviation cooperation

The two Koreas will hold a meeting later this week to discuss cooperation in the aviation sector, the unification ministry said Wednesday. The meeting will be held on Friday at the joint liaison office in the North's border town of Kaesong, according to the ministry.

Samsung BioLogics may face delisting

Samsung BioLogics may be forced out of the Seoul stock market after the nation's financial regulator ruled Wednesday that the biopharmaceutical arm of Samsung Group intentionally violated accounting rules in 2015. At a press conference, Financial Services Commission (FSC) Vice Chairman Kim Yong-beom said the company purposely cooked its books by inflating net profits in 2015 before it went public in 2016.


Chosun Ilbo (

7,000 Candidates Sit College Entrance Exam

About 7,000 candidates sitting the nationwide college entrance exam on Thursday have been allowed to wear masks as heavy smog blankets some 1,190 test sites across the country. The Education Ministry made the decision as the concentration of fine dust particles was forecast to be bad in the Seoul metropolitan area and many other parts of Korea.

Workers Die in Factory Kim Jong-un Wanted Refitted

Four North Koreans workers died while trying to patch up a decrepit factory North Korean leader Kim Jong-un singled out for being "shabby" during a recent site visit. The Daily NK online newspaper on Tuesday quoted sources in North Hamgyong Province as saying the accident occurred at a bag factory in Chongjin in mid-September when the ceiling collapsed during construction.

N.Korean Navy Ordered to Defend Maritime Border

The North Korean People's Army recently sent an urgent order to naval troops to defend the "invariable maritime demarcation line in the West Sea," according to Daily NK on Tuesday. The Army was referring to its own delineation of the maritime border, which differs from the Northern Limit Line drawn up by the U.S. and its allies after the Korean War.


HanKyoReh Shinmun (

Examining inter-Korean relations 200 days after Panmunjom Declaration

Nov. 12 marked the 200th day since the leaders of South and North Korea met on Apr. 27 and signed the Panmunjom Declaration. Then in September, they met again in Pyongyang and adopted the Pyongyang Joint Declaration, which further fleshed out the agreements reached in the Panmunjom Declaration.

Chaebol families increase control through holding company system

When Hanjin Heavy Industries and Construction (HHIC) adopted a holding company system in 2007, the ruling family’s ownership of HHIC Holdings nearly tripled from 16.9% from 50.1%. This “magic trick” with the sharp rise in the family’s share was made possible through the use of three methods: acquisition of treasury stock (19.6%) just before the transition, the family’s simultaneous ownership of shares of both HHIC Holdings and the newly formed HHIC (operating company) established with the spinoff, and the investment in kind to replace the family’s HHIC shares with new HHIC Holdings shares.

A smartphone’s transformation into a two-way radio

On Nov. 13, KT Powertel, a subsidiary of KT that handles its trunked radio system (TRS) service, released the Roger S. Equipped with a five-inch display, this smartphone-type two-way radio uses the LTE network to provide wireless communication (pressing a button before speaking) and to power work-related apps.


The Dong-A Ilbo (

S. Korean spy agency: N. Korea continues nuclear activity even after June summit with U.S.

North Korea is presumed to be continuing nuclear and missile activity even after its first summit with the United States in June, South Korea’s National Intelligence Service (NIS) said Wednesday, regarding the U.S. Center for Strategic and International Studies’ report on the North’s operation of at least 13 missile bases, including one in the North's Sakkanmol region.

U.S. hedge fund Elliott renews pressure on Hyundai Motor Group

U.S. hedge fund Elliott on Tuesday renewed its pressure on South Korea’s Hyundai Motor Group, demanding that the Korean conglomerate use its capital and assets to recover shareholder losses. The fund has resumed its action on Hyundai, as the automaker’s reform of its governance structure will likely be delayed.

The Gayageum Sanjo institution is established in Seoul

Gayageum master Yang Seung-hee, who is designated as the 23rd important intangible cultural asset, established the “Gayageum Sanjo Memorial” inside the Jeonghyo Cultural Foundation building in Seoul. It is the first institution teaching Gayageum Sanjo (free-style solo) in Seoul.


JoongAng Ilbo (

Missiles ‘Fake News,’ says Trump

Pyongyang has continued its nuclear and missile activities even after North Korean leader Kim Jong-un and U.S. President Donald Trump met in Singapore on June 12, according to the National Intelligence Service (NIS) Wednesday. Seoul’s top spy agency briefed lawmakers during a close-door meeting of the National Assembly’s Intelligence Committee following reports Monday that North Korea continues to operate undeclared missile bases in the midst of denuclearization negotiations with the United States.

Delegation from North attends event in Gyeonggi

A North Korean delegation arrived at Incheon International Airport on Wednesday night to attend a peace forum in Goyang, Gyeonggi, which was the first time since the PyeongChang Winter Olympics in February that a high-level official from Pyongyang stepped onto South Korean soil aside from the truce village of Panmunjom.

Unemployment rate rises to 3.5%

Despite official efforts to boost job numbers, the unemployment rate in October climbed 0.3 percentage points from last year to 3.5 percent as people in their 40s and 50s faced challenges in the market, according to Statistics Korea on Wednesday. The 3.5 percent rate is the highest for any October since 2005, in which the same rate was reported. The number is a measure of unemployed people as a percentage of the total labor force.


The KyungHyang Shinmun (

Sudden Controversy over a North Korean Missile Base: Sabotaging the Denuclearization Negotiations?

The Center for Strategic and International Studies (CSIS), a U.S. think tank, released a reported titled, "Undeclared North Korea: The Sakkanmol Missile Operating Base." The report claimed to have confirmed thirteen of the twenty undeclared missile operating bases currently in operation by the North Korean authorities without official confirmation. CSIS based their argument on satellite photos taken on March 29 by a civilian satellite firm and introduced the Sakkanmol base in Hwangju-gun, North Hwanghae Province as one of the secret missile bases.

We Need More of Trump's Love

North Korea developed nuclear weapons amidst U.S. sanctions, which continued since the Korean War. Sanctions were not a good way to prevent nuclear armament. Actually, it was a bad measure that only encouraged the development of nuclear weapons. The United States does not recognize this historical fact, which has been proven over the past 68 years. It still believes that sanctions were the critical factor that led to the shift toward denuclearization. In a world with this belief, the only option we have when the North Korean nuclear problem is stalled is to enforce stronger sanctions.

Five Elements of Leadership Missing in President Moon Jae-in

A few days ago a senior member of the ruling party shared the following thoughts. "I don't think we'll be able to get anything done until the parliamentary elections in April 2020. With nothing left to lose, the Liberty Korea Party is blocking reform legislations. They seem to think that if the National Assembly reaches any kind of agreement, the incumbent government will take all the credit. Reform bills are not likely to be enacted."


AJU Business Daily (

Hyundai makes strategic investment in American UAV startup Top Flight

Hyundai Motor, a top South Korean carmaker, made a strategic investment in Top Flight Technologies, an American startup in hybrid-electric unmanned aerial vehicle (UAV) technologies, to cultivate new business opportunities in logistics and other areas.

State research body develops AI-based next-generation smart farm

In an effort to resolve an overall manpower shortage in South Korea's rapidly aging agricultural society and help farmers manage their farms more effectively, a state agricultural research center has developed an artificial intelligence-based new smart farming system.

SK E&S sells 49% stake in LNG operator to Thailand's EGCO

SK E&S, an energy company involved in power generation and the development of gas fields abroad, agreed to sell a 49 percent stake in its wholly-owned subsidiary, which runs a lucrative LNG power plant, to a Thai company. The company said in a regulatory filing Wednesday that the stake worth 885.2 billion won ($780.6 million) in Paju Energy Service was sold to Thailand's Electricity Generating Public Company (EGCO) which generates and sells electricity.


Maeil Business News Korea (

Samsung Bios stk suspended after FSC finds intentionality in accounting fraud

The Securities and Futures Commission (SFC), the top decision-making board of South Korea’s Financial Services Commission, on Wednesday found intentionality behind Samsung BioLogics Co.’s breach of accounting rules in 2015 and pressed criminal charges against the management, a move that would immediately suspend the heavyweight bio stock from trading on the main Seoul bourse.

Two Koreas to discuss sky connection this week

South and North Korea will hold a meeting on Friday to discuss connecting the skies in follow-up talks to modernize road and rail conditions in the North for land connection as agreed during the summit of South Korean President Moon Jae-in and North Korean leader Kim Jong-un earlier this year.

Korean banks post best Jan.-Sept. net profit in 11 years

South Korean banks delivered their best January-September earnings in 11 years, benefiting from interest premium from higher market yields tracking offshore interest rate rises, data showed Wednesday.

What’s ticking around the world at this second?
See what the world media around the world have to report:

USA Today
The New York Times
Wall Street Journal,
Financial Times
The Times
The Sun
Chinese People's Daily
China Daily
Japan's Yomiuri
Le Monde
Italy LaRepubblica
Germany Frankfurter AllgemeineZeitung
Australia Brisbane Times
Sydney Morning Herald
Colombia Reports
Bogota Free Planet
El Universal
Ecuador Times
The Jordan Times
The Baltic Times,,
El Pais
Philippine Daily Inquirer
Daily News Hungary
Budapest Times
The Korea Post is running video clips from the different embassies.
Sri Lanka:
And many other countries.

Lee Kyung-sik

<저작권자 © 코리아포스트 무단전재 및 재배포금지>




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