Headlines, July 24, 2019

The Korean daily media headlines and humor

Wednesday, July 24, 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.

S. Korea rejects Japan's claim to Dokdo amid tensions with Russia

South Korea on Tuesday dismissed Japan's renewed claim to its easternmost islets of Dokdo amid military tensions caused by a Russian warplane's violation of its airspace near the rocky outcropping in the East Sea. Earlier in the day, the Russian A-50 early warning and control aircraft trespassed into Korea's territorial airspace near Dokdo, prompting the Air Force to fire warning shots in the first such violation by a foreign military plane.

Chinese nationals, company indicted in U.S. over N.K. sanctions evasion

Four Chinese nationals and a Chinese company have been indicted on charges of helping North Korean entities involved in the proliferation of weapons of mass destruction, the U.S. Department of Justice said Tuesday. A federal grand jury in Newark, New Jersey, charged Chinese businesswoman Ma Xiaohong, her company, Dandong Hongxiang Industrial Development Co. Ltd. (DHID), and three of the company's top executives with violating sanctions and conspiring to defraud the U.S. and launder money, the department said in a statement.

Seoul warns Tokyo's additional export curbs will exacerbate trade row

Japan's plan to remove South Korea from its list of trusted buyers will further complicate the trade dispute between the two neighbors, a senior South Korean official said Tuesday, urging Tokyo to retract its latest export curbs against Seoul. Early this month, the Japanese government implemented tougher restrictions on exports to South Korea of three key materials crucial for the production of semiconductors and displays. Japan is remaining steadfast in its intention to exclude Asia's fourth-largest economy from its whitelist of nations granted preferential procedures for exports in the coming weeks, despite repeated calls from Seoul to hold talks, with the measure likely to be officially put in place in the near future.

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

Russia Says it Conducted 'First Joint Air Patrol' with China in Asia Pacific Region

Russia's Defense Ministry said on Tuesday that it carried out its first joint long-range air patrol with China in the Asia Pacific region and that it did not violate the airspace of other countries. The ministry said in a press release that two Russian Tu-95MS strategic bombers and two Chinese H6-K strategic bombers flew a pre-planned route over "neutral waters" in the East Sea and East China Sea.

WTO Discussions on Japan's Export Curbs Postponed to Wednesday

The World Trade Organization(WTO) has postponed until Wednesday a discussion on Japan's trade restrictions against South Korea. The WTO’s General Council has 14 agenda items on its schedule during its ongoing two-day session in Geneva, covering eight of them on the first day on Tuesday.

S. Korea's Trade Minister Arrives in US to Seek Support in Trade Dispute with Japan

South Korean Trade Minister Yoo Myung-hee arrived in Washington for a five-day trip on Tuesday to seek U.S. support and mediation in Seoul's fight against trade restrictions by Japan. Yoo told reporters at Dulles International Airport that she plans to meet a diverse group of trade and economy officials and present the case that Japan's export curbs affect not only South Korea but the U.S. and the world.

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

Russian aircraft violates S. Korea's airspace above East Sea twice

A Russian warplane violated South Korea's airspace above the East Sea twice Tuesday, prompting the Air Force to fire warning shots in the first such airspace violation by a foreign airplane ever, military officers here said. The Russian A-50 early warning and control aircraft trespassed in the territorial sky above the East Sea near South Korea's easternmost islets of Dokdo earlier in the day for two brief periods in breach of international treaties, according to officers from the Joint Chiefs of Staff (JCS).

Bolton in Seoul amid regional trade row, Hormuz issue

U.S. National Security Adviser John Bolton began his two-day trip to South Korea on Tuesday, during which he will focus on consultations on a range of issues from North Korea to the Strait of Hormuz.It especially comes as two major allies of Washington -- Seoul and Tokyo -- are locked in a confrontation over shared history and the Shinzo Abe administration's use of trade as political retaliation.

Water polo stars hope sport will grow after 1st world championships victory

Sometimes, all it takes is one moment to spark wider interest in a sport. And South Korean men's water polo players are hoping that theirs came Tuesday with their first world championships victory. South Korea defeated New Zealand 17-16 after four quarters of regulation and a penalty shootout at the FINA World Championships. It was South Korea's first victory at the biennial competition.

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

S. Korea fires warning shots at intruding Russian warplane

A Russian military aircraft intruded into South Korea’s airspace above the East Sea twice on Tuesday, prompting Air Force fighter jets to fire warning shots in response, military officials said. Two other Russian warplanes and two Chinese bombers also entered South Korea’s air defense identification zone without prior notice.

[News Focus] N. Korea taking time to strategize plans for nuclear talks with US: experts

North Korea seems to be agonizing over cherry-picking key negotiators and agenda items for its fresh nuclear talks with the US in order to avoid another setback following a no-deal summit in February, according to experts.US President Donald Trump and North Korean leader Kim Jong-un agreed to form negotiation teams “in two to three weeks” and create a framework for denuclearization negotiations after a surprise meeting at Panmunjom in the Demilitarized Zone between the two Koreas on June 30.

IMF downgrades world growth, warns of 'precarious' 2020

Global trade tensions, continued uncertainty and rising prospects for a no-deal Brexit are sapping the strength of the world economy, which faces a "precarious" 2020, the International Monetary Fund warned on Tuesday. Trade conflicts are undercutting investment and weakening manufacturing, and the IMF urged countries to avoid using tariffs to resolve their differences.

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

Korean victims of forced labor file for sale of seized Mitsubishi assets

Plaintiffs who won a compensation suit against Mitsubishi Heavy Industries for its wartime forced labor filed a formal request to a local court Tuesday to seize and liquidate the Japanese firm's assets in Korea, after the company refused to abide by a November Supreme Court ruling in their favor. The request came amid an escalating feud between the two countries following the court verdict and Japan's alleged retaliatory move restricting exports of key materials to Korea.

Lawmakers of S. Korea, Japan to meet next week to discuss trade conflict

A delegation of Korean lawmakers will visit Japan next week to meet their Japanese counterparts calling for the withdrawal of Japan's export curbs against Korea, in a bipartisan effort to settle the worsening trade row between the two countries, political sources said Tuesday.

'Tokyo's removal of Seoul from whitelist undermines fair trade'

If Japan decides to strip South Korea of its preferential treatment in its trade relations, it will further widen Tokyo's international trade violations, a senior South Korean government official said, Tuesday (KST). Tokyo's possible move, which is expected to happen later this week at the earliest according to a senior Cheong Wa Dae official, would involve removing South Korea from a "white list" of countries deemed trustworthy by Japan.

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

Russian, Chinese Fighter Jets Buzz Korean Airspace

A Russian military plane twice violated Korean airspace over the easternmost islets of Dokdo on Tuesday while Chinese and Russian bombers flew into Korea’s Air Defense Identification Zone without notice. The Air Force fired 360 warning shots toward the Russian jets.

Hyundai's Profits Recover to Over W1 Trillion

Hyundai's quarterly operating profit recovered to over W1 trillion for the first time in seven quarters (US$1=W1,178). Hyundai on Monday said its second-quarter operating profit reached W1.24 trillion, up a whopping 30.2 percent on-year, while sales rose 9.1 percent to W26.97 trillion. The operating margin jumped 0.8 percentage point on-year to 4.6 percent. "A number of factors contributed including a favorable exchange rate and the launch of new cars," a Hyundai spokesman said.

More People Book Downtown Hotels for Respite from Summer Heat

The number of Koreans opting to check into luxury hotels in Seoul instead of vacationing abroad has more than doubled this year compared to last year. In a survey of 7,000 households released Monday by the Ministry of Land, Infrastructure and Transport, 18.8 percent of respondents said they plan to spend their summer vacation at a luxury hotel in Seoul, up 9.8 percentage points from 2018.

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

Blue House responds to Abe’s demands that S. Korea produce a “decent answer”

The Blue House sent a message on July 22 calling for “adherence to a minimum line” in response to Japanese Prime Minister Shinzo Abe’s remarks the day before insisting that South Korea produce a “decent answer” on Japan’s export controls.

[News analysis] Abe’s offensive against S. Korea to continue for time being

The “semi-victory” in the Japanese House of Councillors’ Upper House election by Prime Minister Shinzo Abe’s coalition party – which failed to secure the number of seats needed to push through an amendment of the country’s constitution – is subtly emerging as a variable in Tokyo’s frictions with Seoul.

Japan doubles down on claim regarding S. Korea’s management of conventional weapons

Officials in the Japanese government are arguing that Japan’s export controls on South Korea are the result of Seoul’s poor management of strategic materials. Tokyo has been stepping up its promotion of this narrative in response to growing criticism, both domestically and internationally, of the export controls.

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

LG Display to invest 3 trillion won in OLED production in Korea

LG Display announced Tuesday that it will invest three trillion won additionally in domestic OLED fabrication facilities even amid uncertainties over future business performance and two consecutive quarters’ losses. It is interpreted that the world's second-largest display maker will continue to expand capital investment not succumbing to an imminent crisis from a longer-term perspective.

Russian environmental groups send SOS to DiCaprio

British broadcaster BBC reported on Monday that the Instagram account (@leonardodicaprio) of American actor Leonardo DiCaprio has been receiving a lot of comments in the Cyrillic alphabet asking the actor to save Lake Baikal in Russia.

‘Ending GSOMIA is not an option,’ Japanese Defense Minister says

Japanese Defense Minister Takeshi Iwaya said on Tuesday that Japan is not considering an end to the General Security of Military Information Agreement. He remarked at a regular press conference that coalition matters between Washington and Tokyo; Tokyo and Seoul; and the three of them to ensure regional peace and stability, stressing that Japan aspires to work together with Korea on any issue that requires close cooperation.

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

Liberty Korea Party Terrified of Being Labeled "Japan-Friendly"

The Liberty Korea Party is fiercely struggling to fight off a "Japan-friendly" image. But internally, the party seems concerned of being caught in a framework of Japan-friendly versus anti-Japan, even as they oppose the ruling party's accusations of leaning toward Japan. If the party criticizes the ruling party's hardline stance against Japan, they could be labeled as being Japan-friendly, but at the same time, the party is not in a position to unconditionally approve of the government's response.

[Editorial] Abe Fails to Secure Enough Seats to Amend the Constitution in the Upper House Election: This Means Abe Should Stop "Charging"

Japan's ruling coalition of the Liberal Democratic Party (LDP) and Komeito won the majority of the seats in the upper house election on July 21. However, they were four seats short of securing two-thirds of the seats necessary for a constitutional amendment. Japanese Prime Minister Shinzo Abe had defined victory as the party securing the majority of the seats, but it ended up only half a victory for he failed to obtain the number of seats to fulfill his dream of a constitutional amendment. If Prime Minister Abe respects the thoughts of the voters, it would be common sense to stop his pursuit of an amendment. Also, now that the election is over, he should reconsider withdrawing the export regulations on South Korea, which he had carried out to gather his supporters.

Diplomatic Confrontation to Intensify Between South Korea and Japan This Week: Will Bolton's Trip Be a Turning Point?

With the growing trade dispute between South Korea and Japan, attention is on the United States and its role in this conflict. For the first time, U.S. President Donald Trump expressed his intention to engage in the trade dispute between the two U.S. allies and on July 23, John Bolton, the national security advisor will visit South Korea. This has fueled expectations on the U.S. to play a more concrete role. Some suggest that the U.S. will try to mediate the conflict to maintain the cooperation among the three countries, but since the U.S. has stressed that South Korea and Japan are the direct parties involved, some expect limitations in the U.S. taking on a more active role.

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

Samsung BioLogics swings to operating loss in Q2 on year

Samsung BioLogics Co. that is under prosecutors’ probes over its alleged accounting irregularities logged an operating loss of 15.4 billion won ($13.1 million) in the second quarter, sinking into the red from a year ago due to increased legal fees.

KEB Hana Bank to buy 15% stake in Vietnamese lender for $874 mn

South Korea’s KEB Hana Bank has signed a deal to acquire a 15 percent stake in Bank for Investment and Development of Vietnam (BIDV), the Vietnamese largest bank by assets, for 1.03 trillion won ($874 million) to broaden its business in the Southeast Asian country, the company announced on Monday.

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Lee Kyung-sik edt@koreapost.com