Headlines, December 17, 2018

Monday, December 17, 2018

Discloses Publisher Lee Kyung-sik of The Korea Post media at BCK meet

‘Bangladesh makes 6% annual economic growth with 70% of population under 35’

By Publisher Lee Kyung-sik with Feature Writer Ms. Sohn Jung-hee

President M. Zamam of the Bangladesh Community Korea (BCK) and Secretary General Arif Choi hosted the 4th BCK Award and Victory Day 2018 celebration meeting at the Sapphire Ballroom of the Lotte Hotel in Seoul on Dec. 16, 2018.

Secretary General Arif Choi of the BCK makes introductory remarks at the opening of the 4th BCK Award and Victory Day celebration.

Attending the meeting, among other guests, were Publisher-Chairman Lee Kyung-sik of The Korea Post media who attended and covered the event with his Religious Feature Editor Ms. Sohn Jung-Hee and Reporter Park Ye-seon.
(For further details, visit: http://www.koreapost.com/news/articleView.html?idxno=8132)
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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 signs six-round 2019 WRC deal with Sebastien Loeb
Hyundai Motor Co., South Korea's largest carmaker by sales, said Sunday legendary rally driver Sebastien Loeb will contest six rounds of the 2019 World Rally Championship (WRC).

Moon set to hold 1st extended meeting of economy-related ministers
President Moon Jae-in was set to lead an extended meeting of economy-related ministers Monday to discuss ways to boost the local economy in the face of a slowdown, his office said.

‘Korea is a strategic partner of Qatar, 2nd largest importer of our LNG’
Ambassador Mohamed Abdulla Al-Dehaimi of Qatar said, “This year, as we celebrate the National Day, our relationship with the Republic of Korea has progressively witnessing a tangible development at all aspects.
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KBS (http://world.kbs.co.kr/english/news/)
German Carmaker Daimler, MAN to Recall over 3,000 Vehicles
The government on Monday said German truck companies will voluntarily recall over three-thousand trucks and tractors to repair faulty components.

'Top Court Discussed Response Measures on its Dismissal of Liberal Judge'
The prosecution is looking into allegations the Supreme Court led by former Chief Justice Yang Sung-tae had planned to dismiss an outspoken judge and discussed response measures in advance to follow-up on the dismissal.

Parliament to Begin Extraordinary Session Monday
The National Assembly will open an extraordinary session on Monday to discuss electoral reform and other key bills.
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Yonhap (http://english.yonhapnews.co.kr)
Moon set to hold 1st extended meeting of economy-related ministers
President Moon Jae-in was set to lead an extended meeting of economy-related ministers Monday to discuss ways to boost the local economy in the face of a slowdown, his office said. The meeting, slated for 10 a.m., will be attended by new Finance Minister Hong Nam-ki, Education Minister Yoo Eun-hae, who doubles as deputy prime minister for social affairs, and heads of other key ministries and government agencies in charge of economy-related policies.

Gov't policy for self-employed criticized for errors, missteps
The South Korean economy has one of the highest portions of individuals running their own stores and shops, and they are getting pushed to the brink by a slumping economy and policy missteps, market watchers said Monday.

Kim Jong-un visits mausoleum of late father to mark 7th anniv. of death
North Korean leader Kim Jong-un has visited the mausoleum of his late father in Pyongyang to commemorate the 7th anniversary of his death, the country's state media said Monday. Kim paid his respects at the Kumsusan Palace of the Sun "on the occasion of the greatest national memorial day," according to the Korean Central News Agency (KCNA).
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The Korea Herald (http://www.koreaherald.com)
Moon set to hold 1st extended meeting of economy-related ministers
President Moon Jae-in was set to lead an extended meeting of economy-related ministers Monday to discuss ways to boost the local economy in the face of a slowdown, his office said. The meeting, slated for 10 a.m., will be attended by new Finance Minister Hong Nam-ki, Education Minister Yoo Eun-hae, who doubles as deputy prime minister for social affairs, and heads of other key ministries and government agencies in charge of economy-related policies.

Inter-Korean railway project now focused more on ‘modernization’ than ‘reconnection’: experts
With the groundbreaking ceremony for modernization and reconnection of inter-Korean railways and roads slated for Dec. 26, similar events held more than a decade ago are being remembered. But analysts say that with a shift in circumstances surrounding the Korean Peninsula since, the focus has now moved to “modernizing” North Korea’s railway system rather than “reconnecting” sections of cross-border tracks.

Child’s death highlights communication barriers on border
Shortly before a 7-year-old Guatemalan girl died in US custody, her father signed a form stating that his daughter was in good health. But it’s unclear how much the man understood on the form, which was written in English and read to him in Spanish by Border Patrol agents. The death of Jakelin Caal highlights the communication challenges along the US-Mexico border as agents come in contact with an increasing number of migrants who speak neither English nor Spanish.
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The Korea Times (http://www.koreatimes.co.kr)
64.1% against Moon: Why young men turn against President?
President Moon Jae-in's approval rating fell last week after a slight gain a week earlier, due largely to growing dissatisfaction among younger men over his policies, including introducing alternatives to mandatory military service, a poll showed Monday.

Samsung too big to kill, Kyung Nam Pharm weak enough to kill?
People who hold shares of Kyung Nam Pharm are furious over the domestic bourse operator's plan to delist the mid-tier pharmaceutical company, widely known for its vitamin supplement Lemona.

Base taxi fare to rise to W3,800 from January.
Starting next year, the base fare for taxis in Seoul will rise to 3,800 won ($3.35), with the late-night surcharge starting at 4,600 won, according to the Seoul city government, Sunday.Fares now are 3,000 won and 3,600 won, respectively.
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Chosun Ilbo (http://english.chosun.com)
Moon's Approval Rating Keeps Plunging
The approval rating of President Moon Jae-in has hit a record low as the second year of his administration comes to an end. In a Gallup Korea poll last Friday, Moon's approval rating plunged to 45 percent, from 49 percent a week earlier, while disapproval was almost equal at 44 percent.

Fewer Small Entrepreneurs Set up Convenience Stores
Market saturation, red tape and the minimum wage hike have made convenience stores a less popular option for people who want to start their own small business. Convenience stores have been mushrooming since 2000 due to low start-up costs and unchallenging franchise conditions.

Korea Runs Short of Blood Donors
Most blood donors in Korea are in their teens or 20s, and if this trend continues, blood shortage is likely to become a chronic problem. Donors in their teens and 20s account for 71.2 percent of blood donations, according to the Korean Red Cross -- 31.3 percent for teenagers and 39.9 percent for 20-somethings.
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HanKyoReh Shinmun (http://english.hani.co.kr)
South Korea and US fail to reach agreement on shared defense costs within 2018
Despite ten rounds of negotiations, South Korea and the US failed to reach a deal on how to share the cost of defense in what is known as the Special Measures Agreement (SMA). The two points on which the two sides were unable to narrow their differences were how much South Korea must pay and how long the agreement will remain in force. No deal is likely to emerge before Dec. 31, when the current agreement expires, which will inevitably create a gap in funding arrangements.

South and North hold second round of inter-Korean sports talks
South and North Korea have initiated the technical work for putting together a unified team for the 2020 Summer Olympics in Tokyo and for jointly hosting the 2032 Summer Olympics, as agreed in the Pyongyang Joint Declaration.

The most destructive US sentiment on N. Korea is not pessimism but apathy
In a speech at the Korea Foundation’s end-of-year party in Washington, DC, early this month, acting Deputy Assistant Secretary of State for East Asia Marc Knapper said that a “lot of good things are happening” in terms of changes on the Korean Peninsula over the past year.
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The Dong-A Ilbo (http://english.donga.com/)
Welcoming assembly praised N. Korean leader Kim Jong Un
Around 50 undergraduates of the Praise Baekdu Committee held a speech contest and music presentation, aimed at welcoming North Korea leader Kim Jong Un’s visit to Seoul, on Saturday in Marronnier Park, Jongno District, Seoul. Participants during the event responded by shaking pink-colored azalea flowers as a means to welcome them.

Rival parties agree to ‘voting system reform’ by January
The ruling and opposition parties agreed to proactively seek ways to introduce a new proportional representation system in which parliamentary seats are tied to the percentage of voters' support for different parties, and to pass a bill to reform the election system in an extra parliamentary session in January. The deal is merely an agreement in principle, while rival parties still demand different election systems.

Samsung home appliances selected as best by European magazines
Home appliances of Samsung Electronics were praised by European consumer magazines. An industry insider said Sunday that Samsung Electronics’ premium vacuum cleaner Power Gun (local name Powerstick Pro) recently ranked first in the function assessment of British consumer magazine Which. Its washing machine Quick Drive won the Best Washing Machine Award in Les Etoiles Award of French electronics product magazine Les Nureriques. Also, its electric range induction and built-in oven became the Test Winner in the function test of German product test magazine ETM.
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JoongAng Ilbo (http://koreajoongangdaily.joins.com/)
Diplomacy on hold as North remembers Kim
Inter-Korean relations and flashy diplomatic activities have been put on pause as North Korea prepares to commemorate the seventh anniversary of the death of former leader Kim Jong-il today. Pyongyang has been focused on North-U.S. denuclearization negotiations, improving inter-Korean relations and other diplomatic activities over recent months, a dramatic shift from the end of last year when tensions were high following North Korea’s sixth nuclear test. But Pyongyang is now focused on its domestic activities and commemorating the death of Kim Jong-il on Dec. 17, 2011.

CJ head tells execs to think global
CJ Group is aiming to make a big leap in its global business next year, with Chairman Lee Jay-hyun telling top executives that overseas expansion will decide the conglomerate’s future.
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The KyungHyang Shinmun (http://english.khan.co.kr/)
Kim Jong-un Will Not Be Visiting Seoul This Year: Time to Adjust the Government's North Korea Policy
North Korean leader Kim Jong-un's visit to Seoul this year has been canceled. Reportedly, North Korea informed the South through communication channels that a visit within the year would not be possible. Cheong Wa Dae also seems to have concluded that a visit this year would be difficult.

Progress in Inter-Korean Railways: Groundbreaking Ceremony in North Korea on Dec. 26
North and South Korea will hold a groundbreaking ceremony to connect and modernize the Gyeongui and Donghae railway tracks and roads at Panmun Station in North Korea on December 26. Thus the two Koreas will be able to fulfill the promise of a groundbreaking ceremony before the end of this year, which President Moon Jae-in made with North Korean leader Kim Jong-un at the Pyongyang inter-Korean summit in September.

Derailed Train Mocks the “Emergency Management” of Korail
A series of train accidents have fueled the public’s concern on the safety of our railways. On December 8, a KTX train on the Gangneung Line derailed. This was the tenth big and small train accident that occurred in the past three weeks. The Korea Railroad Corporation (Korail) had declared a state of "emergency safety management" after a power shortage on a KTX train at Osong Station in Chungcheongbuk-do on November 20, but the string of accidents is making it difficult for the company to avoid the public's criticism and distrust.
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AJU Business Daily (http://www.ajudaily.com)
GS E&C wins construction deal in Myanmar's old capital city
GS E&C, a builder in South Korea, won a construction deal in Myanmar's old capital city, Yangon. The project would be financed by the Economic Development Cooperation Fund (EDCF), which promotes economic cooperation between South Korea and developing countries.

KT develops prototype of C-V2X terminal for autonomous driving
KT, a top telecom company in South Korea, produced the prototype of an advanced vehicle communication terminal, based on cellular vehicle-to-everything (C-V2X), which is instrumental in advancing vehicle connectivity for crash-free autonomous driving.

Two Yemeni journalists granted refugee status on Jeju island
Two Yemeni journalists were granted refugee status after they sought asylum on the southern resort island of Jeju. South Korean immigration authorities acknowledged their appeal that they came to avoid life-threatening for critical articles against the Houthi insurgency.
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Maeil Business News Korea ( http://www.pulsenews.co.kr/)
Menial laborers in Korea suffer largest job loss in 5 years
While South Korea’s job growth improved in November, jobs for some of the most socially vulnerable groups fell by the fastest pace in five years. According to a report by Statistics Korea on Sunday, the number of those employed in menial jobs such as food delivery totaled 3,589,000 in November, down 101,000 from the same period a year earlier. This was the largest fall since the government started compiling such data in 2013.

Korea’s four-year M&A tally reaches $38 bn, Samsung Elec tops list
South Korea’s major conglomerates spent about 43 trillion won ($37.9 billion) on mergers and acquisitions over the past four years, with the tech behemoth Samsung Electronics Co. accounting for a fourth of that amount.

S. Korea’s foreign currency deposits grow by fastest in a year in Nov
Foreign deposits held by South Korean banks rose by the fastest pace in 12 months in November amid weakening in the U.S. dollar, central bank data showed Friday. According to data released by the Bank of Korea (BOK), foreign currency deposits stood at $75.05 billion as of end of November, up $6.94 billion from the previous month. The on-month gain comes after foreign currency deposits fell for the first time in four months in October after rising in July, August, and September. The gain in November marked the largest since November, last year, when foreign deposits stretched $7.13 billion.
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Lee Kyung-sik edt@koreapost.com