Headlines, April 15, 2019

The Korean daily media headlines and humor

Monday, April 15, 2019

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.

Kumho Asiana Group decides to sell Asiana Airlines
Kumho Asiana Group made a final decision Monday to sell its flagship airline unit as part of its self-rescue plan. The decision to sell Asiana Airlines Co., the country's second-largest carrier, was made at a board of directors meeting of Kumho Industrial Co., Ltd., according to the group.

KT partners with Kakao Mobility for new mobility service
South Korean telecom firm KT Corp. and Kakao Corp.'s transportation unit said Monday they will collaborate to develop a new mobility platform to tap into the great potential of the rising technology segment.

Trump says he wants 'big deal' on N.K. nuclear program
U.S. President Donald Trump said Thursday he aims to strike a "big deal" with North Korea on its nuclear weapons program while keeping sanctions in place for now.
Trump made the remark at the start of a meeting with South Korean President Moon Jae-in at the White House, which came weeks after his nuclear summit with North Korean leader Kim Jong-un in Vietnam collapsed without a deal.

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

Moon Calls for 4th Summit with Kim Jong-un to Revive Nuclear Negotiations
Anchor: President Moon Jae-in has responded to North Korean leader Kim Jong-un's policy speech last week. While praising Kim for his intentions to continue dialogue, Moon officially announced his plans to pursue another inter-Korean summit to revive the U.S.-North Korea nuclear negotiations.

Moon to Ask Assembly for Confirmation Hearing Reports if Monday's Deadline is not Met
President Moon Jae-in will again request the National Assembly to send confirmation hearing reports of Constitutional Court justice nominees Lee Mi-sun and Moon Hyung-bae if parliament fails to adopt the reports by Monday's deadline.

Kumho Asiana to Sell Off Flagship Airline Unit to Secure Emergency Loans
Anchor: Kumho Asiana Group, which is struggling to keep its head above water, has decided to sell its flagship airline unit as part of self-rescue measures.

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

S. Korea purchases devices needed for video reunions of war-torn families
South Korea has completed the purchase of equipment to be sent to North Korea for video reunions of families separated by the 1950-53 Korean War, the unification ministry said Monday.

S. Korean shares close higher on Wall Street gains
Seoul shares ended higher Monday taking a cue from gains on Wall Street, analysts said. The Korean won increased against the U.S. dollar.

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

Moon under pressure as US-NK stalemate continues
President Moon Jae-in may be relieved to see positive signs of another round of US-North Korea talks over denuclearization, but challenges remain for him, as Seoul has very little leverage with Pyongyang.

FSS, BOK co-audit 4 major banks over loans to small business owners
South Korea’s chief financial supervisory body and the central bank on Monday launched a joint audit into the country’s four major commercial banks to scrutinize their loan products offered to small business owners.

Working Koreans spend annual W1.4m on cash gifts: survey
South Koreans holding office jobs spend over 1.4 million won ($1,235) annually on cash gifts for special occasions, a poll showed Monday.

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

Kumho Asiana Group puts Asiana Airlines up for sale to stay afloat
Kumho Asiana Group made a final decision Monday to sell its flagship airline unit as part of its self-rescue plan. The decision to sell Asiana Airlines Co., the country's second-largest carrier, was made at a board of directors meeting of Kumho Industrial Co., Ltd., according to the group. Kumho Industrial is the largest stakeholder of Asiana Airlines with 33.47 percent.

Gov't to draw another measure for economy
The Ministry of Economy and Finance will soon draw and implement another measure for local exporters to revive the economy, Finance Minister Hong Nam-ki said in Washington, D.C., Saturday.

Putin sends congratulatory letter to North Korea leader
Russian President Vladimir Putin has congratulated North Korean leader Kim Jong-un on his re-election as chairman of the North's state affairs commission, the country's highest position. According to a Kremlin press release, Sunday, Putin sent a congratulatory letter after Kim was re-elected during a session of the 14th Supreme People's Assembly.

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

1/4 of Corporate Execs Have Degrees from Abroad
About a quarter of executives in Korea's top 30 conglomerates have a bachelor's or higher degrees from universities abroad according to a study. That is roughly the same proportion as those who have degrees from the top universities in Korea -- Seoul National, Yonsei and Korea universities.

Seoul Signs New Currency Swap Deal with Abu Dhabi
The Bank of Korea Saturday signed a new US$5.4 billion currency swap deal with the Central Bank of the UAE. The two countries first concluded a currency swap deal in 2013, but renewal negotiations dragged due to differences in the two countries' legal systems past its expiry in 2016, a BOK spokesman said.

Moon Off Again on 3-Nation Trip to Central Asia
President Moon Jae-in will pay an eight-day state visit to Turkmenistan, Uzbekistan and Kazakhstan from Tuesday, a Cheong Wa Dae spokesman said Sunday. He will meet regional despots like ex-Kazakh President Nursultan Nazarbayev over dinner to discuss the "Kazakh model" of denuclearization, which allowed the country to get rich in return for abandoning its nuclear weapons.

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

South Korea’s income distribution still among bottom in OECD
Statistics Korea released new income distribution indicators based on the findings from a household financial welfare survey last year – with numbers indicating that South Korea remains ranked toward the bottom among OECD members.

EU to increase pressure on South Korea for ratifying core ILO conventions before summer
The European Union (EU) is stepping up pressure on South Korea by setting a firm deadline for the ratification of core International Labour Organization (ILO) conventions.

Hanjin Group Chairman Cho Yang-ho passes away after battling lung disease
Hanjin Group Chairman Cho Yang-ho passed away on Apr. 8 after a long illness. While the third generation of the Cho family appears poised to take over the group’s management reins, industry observers predicted possible risks of the inheritance tax burden dealing a blow to the governance structure, with holding company Hanjin KAL showing an increased trend toward dividends as a way of maintaining the Cho family’s control.

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

Apple, Qualcomm in ‘patent war’ worth billions of dollars
Apple, the largest smartphone maker in the U.S., and “patent giant” Qualcomm are poised to start a legal showdown over patents worth billions of dollars. Unless the two companies compromise in a dramatic move, one of the two will be dealt with a fatal blow in a do-or-die patent battle.

Pres. Moon in dilemma amid Trump-Kim power game
South Korean President Moon Jae-in, who had promised to sit behind the steering wheels of the Korean Peninsula right after he took office, is in a dilemma because of the power game between U.S. President Donald Trump and North Korean leader Kim Jong Un. The South Korean president is “sandwiched” between the two heads of state. Trump flatly turned down the “good enough deal” that Moon suggested in Washington. Even worse, Kim asked Moon to promote inter-Korean economic cooperation saying, “Be a part of the process, not a mediator.” Insiders and outsiders of Cheong Wa Dae also say, “It is the most difficult situation since the denuclearization talks began.”

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

President Moon, "Maintain Momentum in N.K.-U.S. Talks, Confidence in Outcomes of the Top-Down Approach"
President Moon Jae-in is currently visiting the United States, and on April 11 (local time), he began his second and last day in the U.S. by meeting a series of key officials concerning U.S. foreign and security policies, including Secretary of State Mike Pompeo, National Security Advisor John Bolton and Vice President Mike Pence.

Is Cheong Wa Dae "Moral and Humble" Now?
It’s Destiny, the autobiography of former President Roh Moo-hyun, does not mention presidential appointments. The Participatory Government, which established a system for presidential appointments, had prepared a separate book of human resources, a compilation of vast data, before the end of its term. That record was later published in 2013 as the book, Presidential Appointments (written by Park Nam-choon), which was described as a "revolution in presidential appointments by the Participatory Government, from behind closed doors to the public square." The book showed that the “system” had top authority in appointing senior officials in the Participatory Government. President Roh only appointed his officials within the system. In each stage, from recommendation (senior secretary for personnel affairs) to verification (senior secretary for civil affairs) and nomination (personnel recommendation committee), a system of checks and improvement was thoroughly applied. In the recommendation stage, there was an advisory committee, which sought out and recommended experts from each field and region, and a verification advisory board including outside experts gave advise on the eligibility of the candidate for public office.

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

Hyundai Motor adds Swiss hydrogen, local mobility ventures to alliance family
South Korea’s auto giant Hyundai Motor Co. , an eager champion of hydrogen fuel, has teamed up with a Swiss hydrogen energy company and added a local mobility startup to bolster its value chain in the future mobility age.

Korean duty-free sales hit record-high of $1.9 bn in Mar
South Korean duty-free shops delivered record-high revenue for three consecutive months in March despite a new regulatory action from China.
Combined sales of Korean duty-free shops reached 2.17 trillion won ($1.91 billion) last month, marking the highest monthly revenue after extending gains for the last three months, according to the Korea Duty Free Shops Association on Monday.

Maekyung Media Group to hold Global Forum in Shenzhen on May 21-22
Government and business leaders from Korea will meet with Chinese counterparts and also financiers in Hong Kong to seek areas of cooperation in the 4.0 age when frontiers will become meaningless through seminars and events hosted by Maekyung Media Group.

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Lee Kyung-sik edt@koreapost.com