Headlines, September 3, 2019

An EXTRA to today’s Headlines.

Attached hereunder are our text of the Plaque of Citation and samples of the Plaque which the Mayor of the Pyongchang Country and the Publisher-Chairman of The Korea Post media jointly present to the participating Excellencies in the Buckwheat Blossom Festival in Pyeongchang on September 9, 2019.

We would appreciate Your Excellency's examination of the content and selection of one of the Plaques of Citation presented hereunder:

Plaque of Citation

H.E. Distinguished Ambassador

The Friendlies Country of Korea

Seoul

This Citation is presented to the Honoree above mentioned in recognition of the unreserved interest and effort made in the promotion of relations, friendship and cooperation between Korea and the country represented by the recipient by attending the 2019 Pyeongchang Buckwheat Festival on September 9, 2019.

Attendance at the Festival by the Honoree will greatly contribute to the enhancement of the understanding of the Korean literature and culture by the countries diplomatically represented in Korea.

Monday September 9, 2019

Mr. Wang-ki Han

The Honorable Mayor _________________

The Pyeongchang County, Gangwon Province

Mr. Lee Kyung-sik

Publisher-Chairman ___________________

The Korea Post media

The Korean daily media headlines and humor

Tuesday, September 3, 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.

N. Korea hosts dinner reception for China's top diplomat

North Korea has hosted a dinner reception for Chinese Foreign Minister Wang Yi visiting Pyongyang, state media reported Tuesday, amid speculation that his trip might be intended to discuss North Korean leader Kim Jong-un's visit to Beijing. Wang arrived in Pyongyang on Monday on a three-day visit for talks with his North Korean counterpart Ri Yong-ho. Wang could also meet with the North's leader. "The government of the Democratic People's Republic of Korea gave a reception in honor of Wang Yi, state councilor and foreign minister of the People's Republic of China at the Mansudae Assembly Hall on Monday evening," the Korean Central News Agency said, using official names of the two allies.

Nearly half of S. Korean population to be aged 65 or older by 2067: state agency

The proportion of people in South Korea aged 65 years or older could increase sharply amid a rapidly aging population, the country's statistics agency said Monday. Statistics Korea forecast that the country's population is likely to reach 39 million in 2067, sharply down from 51.7 million in 2019. It said people aged 65 years or older could account for 46.5 percent of the country's population, which marks a sharp rise from the 14.9 percent over the cited period.

S. Korean economy grows revised 1 pct on-quarter in Q2: BOK

South Korea's economy grew at a slower-than-expected pace in the second quarter from three months earlier on sluggish exports and government spending, the central bank said Tuesday. The country's gross domestic product (GDP) expanded 1 percent in the April-June period, rebounding from a 0.4 percent on-quarter contraction the previous quarter, according to preliminary data by the Bank of Korea (BOK). The latest reading marks a slight decrease from an earlier estimate of a 1.1 percent on-quarter expansion estimated in July.

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

Justice Minister Nominee Overrides Parliament to Defend Candidacy

Anchor: Justice Minister-nominee Cho Kuk held a news conference to shed light on various suspicions surrounding himself and his family. As the opportunity to receive questions from lawmakers receded, Cho opted to defend his candidacy on his own.Kim Bum-soo has more. Report: As political parties failed to narrow gaps on when and how to carry out a confirmation hearing for justice minister nominee Cho Kuk, the nominee sought to dispel growing public concerns against him and his family. He held a news conference on Monday, seeking to override the parliament and defend his candidacy.

S. Korea, Thailand to Expand Cooperation in Science, Technology, New Industries

Anchor: President Moon Jae-in, who arrived in Bangkok on Sunday as the first South Korean leader to visit Thailand in seven years, met with his Thai counterpart for a summit meeting. The two leaders discussed a range of issues to advance their bilateral strategic partnership, with particular focus on science, technology and new industries. Choi You Sun reports. Report: The leaders of South Korea and Thailand agreed to jointly prepare for the Fourth Industrial Revolution by expanding bilateral cooperation into science, technology and new industries.

Finance Minister Says 2.4% Economic Growth Unlikely This Year

Anchor: Finance Minister Hong Nam-ki says the government's current economic growth target of two-point-four percent may fall short this year amid worsening global economic conditions and Japanese trade restrictions. Celina Yoon has more. Report: In a televised interview with KBS on Sunday, Finance Minister Hong Nam-ki said it may be difficult to achieve a two-point-four percent growth rate set by the government earlier this year.

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

Trump touts Korea trade deal as he marks Labor Day

U.S. President Donald Trump on Monday marked Labor Day by boasting of his administration's economic successes, including the revision of a free trade deal with South Korea. Trump's proclamation for Labor Day was released by the White House on Friday but also tweeted by the president on Monday. "My Administration has been working tirelessly to renegotiate one-sided trade agreements to obtain fairer terms for American companies and workers," he wrote, citing first the new trade deal between the U.S., Mexico and Canada.

S. Korean economy grows revised 1 pct on-quarter in Q2: BOK

Consumer price growth stays below 1 pct for 8th month

South Korea's consumer prices remained flat in August from a year earlier, staying below the 1 percent threshold for the eighth consecutive month, government data showed Tuesday. From a month earlier, the consumer price index rose 0.2 percent, according to the data from Statistics Korea.

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

Justice nominee apologizes, refuses to quit

Justice Minister nominee Cho Kuk apologized for failing to properly oversee his daughter’s college applications and family’s investments. “I apologize to the public. I have disappointed you despite the expectations placed on me, which were more than I deserved.” Cho said in a press conference Monday at the National Assembly. “I am a wreck, but I will continue as long as I can. … I believe I have to complete what I have worked for my entire life. If I had thought to earn more money or desired a position, I would not be here.”

S. Korea, Thailand agree on high-tech industry cooperation, closer defense ties

South Korea and Thailand agreed Monday to team up to cope with the fourth industrial revolution, expanding their time-honoredties to high-tech sectors. They also signed an accord on exchanging and protecting military intelligence, as President Moon Jae-in and Prime Minister Prayut Chan-o-cha had summit talks at the Government House of Thailand, also known as Thai Ku Fa, in Bangkok.

Drug probe on heir puts brakes on CJ Group succession

The only son of CJ Group Chairman Lee Jay-hyun is under investigation on charges of smuggling liquid marijuana, putting the brakes on the food-to-entertainment giant’s succession plan. Lee Sun-ho, the heir-in-waiting of CJ Group, the 14th-largest conglomerate here, was allegedly caught by the customs service at Incheon Airport on Sunday attempting to smuggle liquid marijuana in cartridges into the country. The case was transferred to the Incheon District Prosecutors Office, authorities said.

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

Moon presses on with appointment of justice minister

Cheong Wa Dae is pressing ahead with the controversial appointment of justice minister nominee Cho Kuk despite rising calls for the withdrawal of his nomination following allegations of corruption involving him and family members. The presidential office is planning to request a parliamentary confirmation hearing report Tuesday, even though the political parties failed to agree on holding the hearing that was scheduled to take place for two days starting Monday. The parties failed to narrow their differences on including Cho's family members as key witnesses.

Seoul signs intel sharing pact with Bangkok

As trade friction with Japan shows no imminent sign of abating, South Korea is aiming to expand its security partnership with Thailand. In a renewed sign of interest in the Association of Southeast Asian Nations (ASEAN), Seoul signed a military intelligence-sharing agreement, a General Security of Military Information Agreement (GSOMIA), with Bangkok. The agreement came after South Korea ended its GSOMIA with Japan in a deepening trade dispute triggered by Tokyo's decision to remove Seoul from its list of most trusted trading partners in response to the South Korean Supreme Court's ruling last year, which ordered Japanese companies to compensate surviving Koreans who were forced to work for them before and during World War II.

US law firms capitalizing on LG, SK battery feud

The escalating legal battle between LG Chem and SK Innovation over electric vehicle (EV) batteries has turned into a "game of chicken," which will end up hurting both companies and only benefit U.S. law firms, according to industry officials, Monday. LG Chem recently switched its legal counsel to Latham & Watkins LLP from Dentons LLP in its lawsuits filed with the U.S. International Trade Commission (USITC) and a U.S. court against SK Innovation.

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

USFK to Bring in New Stealth Fighter Jets

The U.S. Forces Korea is expected to deploy state-of-the-art F-35A stealth fighter jets at major air bases here in place of the current bread-and-butter F-16s. A South Korean government spokesman on Sunday said they will be deployed from early 2020s. Separately, the South Korean Air Force plans to deploy 40 F-35As by 2021. The stealth fighters will replace the USFK's existing F-16 fighter jets, of which some 60 are stationed at Osan Air Base in Pyeongtaek, Gyeonggi Province and the one in Gunsan, North Jeolla Province.

More Women Buy Hair-Loss Products

Women are becoming a new customer base in the market for hair-loss remedies. According to the Health Insurance Review and Assessment Service, women make up 45 percent of people suffering from hair loss in Korea. Women tend to worry about their hair thinning rather than receding in a male balding pattern. Products that purport to help them include helmets that emit laser into the scalp, and although they cost between W690,000 and W970,000, sales in the first half of this year increased by more than four times compared to a year ago (US$1=W1,210).

Most Users Watch TV on Their Smartphones

Six out of 10 smartphone users use their phones to watch TV. The Korea Communications Commission polled 4,000 smartphone users, 2,000 computer users and 3,000 households with video on demand-enabled TVs. Some 59.95 percent said they watch TV on their mobile phones, but only 26.2 percent watch on their computers. Meanwhile, the most watched program on demand was costume romance "Mr. Sunshine" aired on cable channel tvN last year.

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

Memorial service held for Korean victims slaughtered during Great Kanto earthquake

A 96th anniversary memorial ceremony for Korean victims of massacres following the Great Kanto earthquake took place on Sept. 1 at Yokoamicho Park in Tokyo’s Sumida Ward. As intangible cultural heritage possessor Kim Soon-ja was performing a dance in white mourning clothes to soothe the spirits of the Koreans slaughtered in the earthquake’s wake, Japanese right-wingers who deny the massacre happened could be heard nearby shouting into a microphone.

N. Korea says expectations for dialogue with US “gradually disappearing”

In response to remarks made by the US’ top diplomat, North Korea said its expectations for bilateral dialogue are “gradually disappearing.” The remarks suggest that the two countries are still having trouble reaching an understanding about their working-level negotiations. In a statement released under her own name on Aug. 31, North Korean First Vice Foreign Minister Choe Son-hui criticized remarks made by US Secretary of State Mike Pompeo at a convention of the American Legion on Aug. 27. “We recognized that North Korea’s rogue behavior could not be ignored,” Pompeo said during his speech.

OPCON transfer likely to accelerate USFK’s move to Pyeongtaek

The South Korean government’s announcement that the process of transferring control of the US military garrison in Yongsan, Seoul, will begin within the year is likely to accelerate the timetable for relocating the ROK-US Combined Forces Command (CFC) to Camp Humphreys, in Pyeongtaek. At the moment, facilities providing services to US service members are rapidly closing at the Yongsan Garrison; by the year’s end, the only ones remaining will be CFC and the Dragon Hill Lodge, a hotel for US troops. US Forces Korea (USFK) Command moved to Pyeongtaek in June 2018, and the US 8th Army Command transferred there nearly a year earlier, in July 2017.

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

U.S. conducts test of THAAD system amid N. Korea’s provocations

It was confirmed on Monday that the United States tested Terminal High Altitude Area Defense (THAAD) system to counter a medium-range ballistic missile (MRBM) target on Friday (local time). It is interpreted as a preemptive drill to prevent North Korea’s any possible provocation following a series of new short-range launches.

‘Chef sharing’ booms in New York as restaurants experience labor shortage

The 32nd street near the Koreatown in Manhattan, New York was busy with delivery men on their electric bicycles and scooters around noon on Friday (local time). The logo of online food ordering and delivery platforms, such as Uber Eats and DoorDash, was written on their delivery bags or the vests they were wearing. The streets of Manhattan nowadays are flooded with these new types of “sharing economy” services, including ride hailing and online food ordering and delivery. With the unemployment rate hitting the lowest level in 50 years, on-demand services, which help restaurants find workers, are growing at a fast pace.

‘Koreans risked life to resist Japan’s forced labor,’ researchers say

“The Korean people didn’t meekly accede to Japan’s demand for forced labor. They escaped alone or took revenge on local personnel and police. Some formed a secret organization to stage protests against forced labor.” The Northeast Asian History Foundation, the National Institute of Korean History, and the Academy of Korean Studies will jointly hold a symposium in Seoul Wednesday to discuss the Japanese colonial era and related challenges.

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

Concerns over N.K. and the U.S. Blaming Each Other for the Deadlock

North Korea and the United States have been engaging in a battle of nerves over the working-level talks to resolve the North Korean nuclear issue for two months. On August 31, Choe Son-hui, North Korea's first vice foreign minister released a statement and said, "Our expectations for talks with the U.S. are fading away, and we are being pushed into a situation where we will have to reconsider all of our actions so far." On August 30 (local time), the U.S. Treasury imposed sanctions on two Taiwanese and three Taiwanese and Hong Kong shipping companies for their connection to illegal transshipment of North Korean refined oil products.

President Moon to Review College Admissions System after Controversy over Cho Kuk's Daughter and Her University Admission

On September 1, President Moon Jae-in instructed public officials to "go beyond the controversy surrounding justice minister nominee Cho Kuk and his family and review the overall college admissions system," in connection to the allegations surrounding the university admission of Cho's daughter. A number of allegations have been raised since Cho was nominated for justice minister, but this was the first time that the president mentioned any of the allegations.

"Illegal Solicitation to Succeed Management of Samsung" 5 Billion Won Added to Bribes by Lee Jae-yong

The Supreme Court ruled that there was a scheme to have Lee Jae-yong (51), vice chairman of Samsung Electronics succeed the management of the group and that Lee made an illegal solicitation concerning his succession of management to former President Park Geun-hye (67) in the trial of Park and Lee. The court also recognized the three horses that Samsung gave to the “secret heavyweight” Choi Soon-sil (63) as bribes.

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

LG Display applies Korean-made hydrogen fluoride to mass production line

South Korea’s leading panel maker LG Display Co. has begun applying locally produced high-purity hydrogen fluoride to its manufacturing process, becoming the first Korean manufacturer that has ever succeeded in self-supplying the material subject to Japan’s export restriction along with photoresist and fluorinated polyimide.

SK Group to launch integrated CMO entity in U.S.

SK Group will launch a new entity in the U.S. that will oversee its three medical producing affiliates to better manage its contract manufacturing organization (CMO) business and enhance its global competitiveness. SK Holdings Co., the holding company of South Korea’s SK Group, said Monday its board on Friday approved a plan to set up SK Pharmteco in California, the U.S. SK Pharmteco, which will be officially launched in January next year, will combine SK Biotek with its overseas affiliates SK Biotek Ireland and AMPAC. The holding company will invest its stakes in SK Biotech and assets in SK Pharmteco to make SK Biotek, SK Biotek Ireland and AMPAC fully-owned subsidiaries of the new entity.

More Korean banks offer silver bars on rising demand for safe haven assets

NH Nonghyup Bank has started selling silver bars, becoming the fourth of Korea’s major commercial lenders to offer the precious metal to retail investors in the country amid explosive demand for the safe haven asset at a time of rising economic uncertainties. The bank said Monday that it has started offering 1-kilogram silver bars through its sales branches. For the day, one 1-kilogram silver bar was priced at around 930,000 won ($766), inclusive of 10-percent value added tax.

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