The Korean daily media headlines and humor

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Humor from Korean-language economic dailies this morning:

Seoul Kyungje

An elderly man remembers the good old days.
"When I was young, my mom could send me to a shop with a single dollar, and I would bring back 5 pounds of potatoes, 2 breads, a bottle of milk, a piece of cheese and 10 eggs.
Nowadays that's impossible. There are simply too many security cameras."

Hankuk Kyungje
Simple-Minded Handsome Sam
Sam, a simple-minded good-looking fellow, walks into his regular bar.
One of the regulars, noticing his new clothes and brand new Harley Davidson, asked him where he got it.
Sam, with a big, proud smile on his face, explained: “Well, I was walking through the deserted park on my way to the grocery store, when all of a sudden a girl rode up on this shining new Harley. She got off her bike, threw off all of her clothes and said, ‘Take what you want.’ So I did.”

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

Park Proposes Inter-Korean Family Reunions
Anchor: President Park Geun-hye has pledged to form the groundwork for the two Korea's unification this year.During a nationally-televised news conference Monday, the president proposed holding inter-Korean family reunions around Lunar New Year's Day, which falls at the end of the month.

Park Says Preparation Must Precede Korea-Japan Talks
President Park Geun-hye says ample preparation must come before a summit with Japan because talks should result in progress in bilateral ties.

Pres. Park Lays out 3-year Plan to Revamp Economy
Anchor: Also during the press conference Monday, President Park Geun-hye mentioned the word "economy" 24 times in outlining her plans for 2014.

Unification Ministry Proposes Inter-Korean Family Reunions
The Unification Ministry has proposed working-level talks with North Korea to arrange inter-Korean family reunions.

Yun, Kerry to Discuss Yasukuni Shrine
Foreign Minister Yun Byung-se arrived in the U.S. on Sunday for talks with key Washington officials.

Foreign Reserves Hit Record High for 6th Month
South Korea's foreign exchange reserves hit a record high for the sixth month in a row in December.

Social Commerce Sales Surge More than 50% in 2013
Social commerce sales grew 50 percent last year alone backed by the spread of mobile devices.

LS Group Shuts Down Subsidiary over Nuke Plant Scandal
Korean firm LS Group will shut down its subsidiary JS Cable to take responsibility for the use of faulty cables in the construction of nuclear reactors.

North America Braces for Record Cold Snap
The U.S. Midwest, east coast and Canada are suffering under record freezing weather that has already killed 16 people.

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

China, N. Korea benefit from Abe's Yasukuni visit: pundit
Japanese Prime Minister Shinzo Abe's recent pilgrimage to a Tokyo war shrine has helped the strategic interests of China and North Korea, a Korean-American pundit here said Monday.

Samsung puts Q4 operating profit at 8.3 tln won
Samsung Electronics Co., the world's biggest technology firm by revenue, estimated Tuesday its 2013 fourth-quarter operating profit at 8.3 trillion won (US$7.78 billion).

Ex-NBAers' 'sports diplomacy' downplayed as 'nonsense'
As the U.S. government sought to distance itself from an ongoing trip by some former NBA players to North Korea, a public condemnation has intensified over their self-styled "basketball diplomacy." "We haven't been contacted by Mr. (Dennis) Rodman about his trip. We obviously recommend against all travel to North Korea by U.S. citizens," State Department deputy spokeswoman Marie Harf told reporters Monday.

Foreigners dump local stocks for 2nd month in Dec.
Foreigners unloaded their holdings in local equities for the second month in December, weighed down by concerns over the U.S. central bank's decision to cut its stimulus, the financial regulator said Tuesday.

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

President Park looks to era of reunification
President Park Geun-hye on Monday proposed holding cross-border reunions for separated families in time for Lunar New Ye...

Ruling, opposition parties lock horns over local governance
Political bickering over the ruling Saenuri Party’s proposals for reforms in provincial govern...

North Korea seen spurring leadership shakeup
North Korea appears to be quickening a reshuffle of its top brass to consolidate his power in t...

Execs at Samsung financial units embroiled in scandals
A number of financial units of Samsung Group were found to have engaged in a chain of irregularities involving sexual harassment and dubious deals with VIP customers, according to ...

Packed agenda awaits Yun in U.S.
Foreign Minister Yun Byung-se is set to confer with key officials in Washington over North Korea and relations with Japan frayed by its premier’s visit to a controversial war shrine.

A three-legged race
State governance is like a three-legged or four-legged race. Even if the executive branch wants to run fast, it can’t if other branches of government, be it the legislature or local governments, slow down or stop.

Work efficiency, time management key for female business leaders’..

Senate confirms Janet Yellen as chair of...

GM Korea seeks double digit market share...

China snubs Japan P.M.'s calls for dialo...

German leader suffers pelvic injury on s...

Seoul to set up 3-year economic plan..

‘Life-threatening’ cold bites U.S. Mid...

State-owned firms told to make drastic r...

OECD, Korea to build development model f...

Park struggles to shed aloof image

Dispute over textbook heating up

Seoul’s Line 4 suspended in rush hour b...

Japan mulls mandatory history class at h...

Controversy grows over NIS’ alleged inv...

Quake count rises on Korean Peninsula

Bangladesh stares into abyss after vote

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

`I am willing to meet Abe, Kim'
President Park Geun-hye said Monday that she is prepared to meet with North Korean ruler Kim Jong-un and Japanese Prime Minister Shinzo Abe.

US-based website on NK blocked
NK News, a Washington, D.C.-based website focused on North Korea, has been partially blocked in South Korea for violating the National Security Law (NSL), authorities confirmed Monday. “We’ve received some complaints saying, 'Ca...

'Great Communicator' in own way 
President Park Geun-hye rebuffed criticism that she has failed to reach out to others during her N... 

Clear no to NIS special investigation  
President Park Geun-hye again drew a line Monday between her and the National Intelligence Service... 

Democratic Party says Park below expectations  
Opposition parties criticized President Park Geun-hye’s press conference, saying it was “insuffici... 

'Unification is like hitting jackpot'  
President Park Geun-hye said that unification would be a huge boon for the nation’s economic growt... 

Beware of luxury parka scam! 
Hundreds of consumers who sought to purchase bargain-offer luxury parkas from Canada Goose and Mon... 

Self-employed earn less, borrow more  
The debts held by the self-employed rose by 8.5 percent last year, while their revenue decreased 1... 

Audi Korea launches A3 sedan 
Audi Korea launched the A3 sedan here Monday, expecting it to help boost sales and strengthen its ... 

Weak yen hits hotels, duty free shops 
Korea’s major hotels and duty free shops are feeling the pinch from the weakening yen because thei... 

World's biggest tech show kicks off 
LAS VEGAS - The 2014 International Consumer Electronics Show (ICES) opened today in Las Vegas in t...   

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Dong A (http://english.donga.com)

President Park lays out economic innovation plans for 2014
President Park Geun-hye presented economic innovation as basis of her second year national affairs plan. She also officially offered to North Korea reunions of families separated by the Korean War, raising hopes for a...

Japan’s domestic politics troubles international community, minister says
On geopolitical situation in Northeast Asia, which has deteriorated due to Japanese Prime Shinzo Abe’s visit to Yasukuni Shrine late last year, Seoul’s Foreign Affairs Minister Yun Byung-se said, “Japan`s domestic...

Asada is no longer a rival to Kim
“The veteran’s V with her overwhelming performance,” “An overwhelming score of 227.86 points,” and “Full preparation for the Sochi Games” 

Pres. Park`s economic innovation plan praised by economic experts
At a New Year press conference Monday, President Park Geun-hye said the government will establish a three-year economic innovation plan, and stressed national affairs priority will be on economic invigoration.

Unification will become ‘big bonanza’ only with thorough preparation 
In her New Year’s press conference on Monday, President Park Geun-hye presented the establishment of foundation for a reunified Korean Peninsula era as a key goal of state administration for her second year in office. Unification is the Korean people’s cherished aspiration and the surest way to secure peace on the Korean Peninsula. Chances are high that unification could come through sudden collapse of the North Korean regime like the case of Germany, rather than through compromise between the two Koreas. For this reason, South Korea should steadfastly make preparations from now, although it is impossible to predict when reunification will come. 

Japan’s domestic politics troubles international community, minister says

Health advice for the new year

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

Japan Defiant Over Long March to Far Right
Japan's Chief Cabinet Secretary Yoshihide Suga on Sunday said the Abe administration does not wish to hold summits with Korea and China if it is forced to change its stance on historical issues, the Yomiuri Shimbun reported Friday.

Korean Expected to Be Among New Cardinals
Pope Francis is poised to announce the first new cardinals of his pontificate, one of whom could be Korean. According to Vatican tradition, the new cardinals are expected to be announced this week or by Jan. 20 at the latest. Around 12 to 14 new cardinals are expected to be appointed.

Korea Named Among Top 6 Global Investment Targets
U.S. magazine Foreign Affairs included Korea among six top markets in the world for global investors over the next five years. The list also includes Mexico, Poland, Turkey, Indonesia and the Philippines and the Mekong River region.

'Contraband Equipment' at N.Korean Ski Resort
The newly opened Masikryong ski resort in North Korea is equipped with high-end Western equipment that appears to have smuggled in despite international sanctions, Radio Free Asia reported Thursday.

Is Kim Jong-un's Aunt Dead?
Kim Kyong-hui North Korean leader Kim Jong-un's aunt and widow of executed eminence grise Jang Song-taek is believed to have died, possibly by her own hand.

U.S. Senate OKs Yellen as Fed Chief
The U.S. Senate has confirmed Janet Yellen as the new head of the U.S. Federal Reserve, making her the first woman to head the central bank for the world's largest...

Dennis Rodman Makes 4th Trip to N.Korea
Former American basketball star Dennis Rodman arrived in Pyongyang on Monday with a team of retired players to play an exhibition game in honor of North Korean leader Kim...

Sea Shepherd Locates Japanese Whaling Fleet
Anti-whaling activists with the Sea Shepherd Conservation Society announced that they have caught up with Japan's whaling fleet near Antarctica. Sea Shepherd said on Monday it had...

Bitcoin Surges on Zynga Announcement
The value of the battered virtual currency, Bitcoin, surged again in trading to over $1,000 as popular gaming company Zynga Inc. announced it would test allowing users to pay for the games using it.

Record Cold Sweeps U.S.
People in much of the United States are dealing with cold weather not seen in 20 years. The National Weather Service is calling the polar air mass sweeping across the country "dangerously cold," and has posted wind chill warnings for Monday that stretch from North Dakota to New York in the north and as far as Alabama in the deep south.

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Hankyoreh (http://english.hani.co.kr)

“How are you nowadays?” movement shows young people turning away
Poster movement is not political, but a channeling of emotions that had been kept inside
When Korea University student Ju Hyun-woo asked how we are doing nowadays, he was not asking about values and ideology, information and knowledge, facts and logic, or assessment and judgment. Instead, Ju seemed to be saying that he was feeling a lot of pain and frustration and that he wanted to know if others felt the same way.

Posters worth 1 million won going up at Chung-Ang University
Since Chung-Ang University filed an injunction asking a court to fine striking cleaning workers 1 million won (US$948) each time they put up posters on campus, students have started putting up their own posters to parody the move.
After hearing the news about the university’s suit, students have been putting up posters in the main building and the law building on campus since Jan. 4.

North Korea blasts Seoul’s weak response to dialogue overture
North Korea has issued a strongly worded criticism of Seoul’s tepid response to repeated calls for improved relations since the beginning of the year. A spokesperson for the Committee for the Peaceful Reunification of the Fatherland (CPRF), North Korea’s body for handling relations with the South, was reported by the Korean Central News Agency as accusing Seoul

Every Sunday, foreign migrant workers get free medical care in Gwangju
Samson Pale, a 27-year-old from the Philippines, arrived at the medical office of the Gwangju Migrant Workers’ Clinic Center (GMWCC) in Gwangju on the afternoon of Dec. 1. Speaking in broken Korean, he said his throat hurt. A worker at a molding factory in Gwangju’s Hanam Industrial Complex, he had been coughing up phlegm for the past three days. A friend had told him about the center.

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Joong Ang (conservative): (http://koreajoongangdaily.joinsmsn.com/)

Unification may be jackpot: Park
Criticized for lack of communication, she holds first press event
In her first presidential press conference yesterday, President Park Geun-hye drew up a blueprint for the reunification of the two Koreas, describing it as a huge opportunity for the local economy to leapfrog to a whole new level…

New Year reunions request received by the North
South Korea has proposed to conduct official talks with North Korea about reunions of war-separated families after plans to hold them last year fell apart…

Gov’t to begin developing own fighter jets
The South Korean government will develop its own indigenous fighter jets starting this year to replace the aging KF-16s by 2023…

Priests’ group holds another Mass, criticize election result
A progressive Catholic association yesterday once again condemned the Park Geun-hye government during an emergency Mass, urging the president to resign…

Yun to talk North Korea, Japan with U.S. officials
Foreign Minister Yun Byung-se is scheduled to hold talks with U.S. Secretary of State John Kerry tomorrow in Washington, where he is expected to coordinate…

Abe seeks to explain his intentions
Japanese Prime Minister Shinzo Abe stated yesterday at his New Year’s press conference that he wants to explain his intent for visiting the controversial Yasukuni Shrine…

Center helps disabled find work
Kim Joo-hyeon is known for his great smile. The 21-year-old has been working as a guide and greeter at Lotte World…

Infectious diseases increase: Report
In the wake of global warming, the number of people infected with tropical diseases transmitted by mites or mosquitoes has nearly doubled over a three-year period…

Drunk’s car flips onto KTX tracks
Five KTX bullet trains were delayed yesterday morning after a speeding car flew off an overpass in Daegu, flipped and fell 10 meters (32.8 feet) onto the railroad…

Park’s three-year plan faces persistent risks
The economic agenda of President Park Geun-hye at the start of her second year in office was clear: reform bad business habits…

KCCI chief urges hard work in 2014
Park Yong-maan, head of the Korea Chamber of Commerce and Industry, yesterday called for companies to work hard to get the economy back on track this year…

Samsung driving toward auto navigation market
Samsung Electronics, which sells almost one of every three smartphones, wants to parlay that technology into automotive navigation and entertainment systems…

Emerging nations drive the economics of vaccines
SEATTLE - Vaccines work wonders. They prevent disease and are relatively cheap and easy to deliver. Yet millions of children do not get them…

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Edaily (http://eng.edaily.co.kr/Stock/)

[US the closing price]The U.S. Dow Jones Index, -44.89p(-0.27%) slightly down.
The U.S. Dow Jones Index Closing (At 2014.01.06) The Dow closed at 16,425.10p, slightly down -44.89p(-0.2...

[Table]Exchange Rate Quotation
This is Exchange rate Quotation offered by Korea Exchange Bank. [table] Exchange Rate Quotation Offered by KEB ...

[Table]Exchange Rate Currency Crossrate
2014.01.07 08:10(Korean time), this is Currency Crossrate of major 12 countries. [table] FX Cross Currency ..

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Maeil Kyungje (neutral-oriented conservative, economic/business): (http://news.mk.co.kr/english/)

SK at risk of losing $1.3bn investment in PX plant
SK Group’s chemical plant expansion in Incheon is in jeopardy of being halted. If the construction is derailed, the SK Group could squander over 1.4 trillion won ($1.3 billion) that it has so far injected.At a press conference held Monday, the district office of Seo-gu, Incheon city, said it will order SK Incheon Petrochem within January to put a stop to the construction of the expansion of paraxylene production facilities. This abides by the recomme.....
US tapering unlikely to deal serious blow to Korean economy
“South Korea will suffer a limited shock arising from reduction in US quantitative easing since the country is keeping a current account surplus trend and has considerable foreign reserves.”

Defective nuclear power plant cable supplier JS Cables to shut down
LS Group decided to close all businesses of JS Cables, its subsidiary specializing in making cables for nuclear power plant. The decision is seen as the conglomerate’s determination to take responsibility for JS Cables’ supply of defective nuclear power plant cables.

5-year economic development plan remodeled into 3-year economic innovation scheme
President Park Geun-hye revealed her “three-year economic innovation plan” in a press conference Monday, in which the government will take the lead in bolstering the South Korean economy’s fundamentals in pursuit of a second economic transformation.

Car repair costs to be cut from next year
South Korea will adopt a replacement car parts certification system from next year, which is expected to decrease repair costs and insurance premiums. Another new legal requirement to publicize auto maintenance charges would likely soothe consumers’ complaints.

Samsung, LG to present UHD, OLED as main card at 2014 CES
Samsung Electronics’ billboard, which was put up to advertise the world’s first-ever curved UHD TV, attracted attention from participants at Las Vegas Convention Center in the US on Sunday (local time), two days before the opening of the international CES 2014.

Park proposes inter-Korean family reunions later this month
President Park Geun-hye proposed Monday reunions for separated families between South and North Korea later this month stressing that the country must embark on preparations for reunification with the North.

Samsung Elec. doles out over $2.8bn in bonus
Samsung Electronics paid executives and employees far more than three trillion won ($2.8 billion) in bonuses in 2013, close to the government’s 3.3 trillion won childcare budget.

'One of Seven Wonders of Winter' for a 22-day run

Hwacheon Mountain Trout Ice Festival opens Jan. 4

Named one of the 'even Wonders of Winter' by CNN and Lonely Planet, the Hwacheon Sancheoneo (Mountain Trout) Ice Festival is probably the most famous winter event in Korea. During the month of January every year, more than 1,000,000 people swarm Hwacheon in Gangwon province hoping to catch mountain trout bare-hand or ice fishing.
(Mayor Chung Gap-cheol invites the ambassadors and families to attend the Festival on Friday 17, 2014.)

▲Who said Hwacheon offers only ice-fishing? You can land mountain trouts also from the water standing on the river bank (top left). Koreans, expats, young and old, all enjoy various events of the Festival.

▲Left: Visitors pass through the colorfully lit ice tunnel. Right: You can also enjoy a 'sky ride' down the river.

The 2014 Mountain Trout Festival and Winter Ice-Snow Fantasia (one of the 'Seven Winter Wonders of the World') start on Jan. 4, 2014 at the Hwacheon County of Gangwon Province some 79.3 miles northeast of Seoul.

So called by CNN and Lonely Planet, the Hwacheon Sancheoneo (Mountain Trout) Ice Festival this year is expected to draw an estimated 1.5 million Korean and internatioal visitors.

Recently designated by the Central Government bas the 'Best Festival of the Republic of Korea,' the Hwacheon Mountain Trout Festival offers visitors a rare chance of catching mountain trouts through ice holes and bare-hand.

This year, the organizers expected that the 'fishermen' from around the world, as well as from within Korea, will be able to catch many more trouts than in any previous year as the river is literally 'full of trouts.'

The organizers also have a special VIP package which offers the important Korean and international visitors with an opportunity to rice an 'Ice Breaker' steel boat from the town of Hwacheon to the famous Peace Dam cutting through the thick-frozen surface of the scenic Paroho Lake.

The VIP guests are also offered an opportunity to toll the Peace Bell of the World, shake hands with the Nobel Laurates (former President Mikhail Gorbachev of Russia, the late former President Kim Dae-jung, Rigoberta Menchu Tum of Guatemala, Jose Ramos Horta of Indonesia,  Muhammad Yunus of Bangladesh, Dalai Lama of Tibet, Elizateth Willians of the United Kingdom, Desmond Mpilo Tutu of Soouth Africa, and the noted figures of many other countries of the world), and a visit to the 'Water Museum of the Republic of Korea managed by K-Water.

They are also invited to toll the Peace Bell of the World which was made with the expended bullets and shells donated by many countries of the world where there have been conflicts as a token of expression of hopes for peace in the world.

Nestled between the town of Hwacheon and the mountains, the Hwacheon River is not only covered by a thick layer of ice, but also by thousands of festival participants.

The Hwacheon Mountain Trout Ice Festival will be taking place in Hwacheon County in Gangwon-do province on Jan. 4-26, 2014. This virtually untouched region is known as the first area in Korea that freezes over in winter, and the river is covered with a thick layer of ice.

Visitors can try out ice fishing, and those who are feeling brave can try to catch mountain trout with their bare hands. Along with fun activities and performances, there is also an exhibition of ice sculptures that usually take 20 weeks to prepare. Visitors can sample raw and grilled mountain trout, both of which are delicious.

A foreign visitor said: “Unlike some Korean festivals I have been to, there is a lot to do at this festival. You can ride an ATV or go kart on the ice, go sledding, ice skating, push a metal cart on the ice, or do some regular reel fishing.”

The events that are most popular are ice fishing and bare-handed fishing. For the ice fishing, you are provided with a hole in the ice and a bag for putting your catch for 10,000 won of which you get 10,000-won Love Gift, money you can spend around the festival grounds on food and souvenirs. “If you aren’t Korean, make sure to head to the foreigner only section. It is not only less crowded, but there is English-speaking help and you are given a free fishing pole,” said the foreign visitor.

When you get on the ice, pick a hole, let out enough line to get your lure to the bottom of the river. Then, quickly flick your wrist upwards and let it float back to the bottom. Some persistence is required, he stressed.

Hwacheon is considered a “clean region” where mountain trouts and otters live. Hwacheon Sancheoneo Ice Festival is opened in every January under the slogan of “Unfrozen Hearts, Unforgettable Memories” at Hwacheon that has geographical features of the fastest ice freezing in the country because of cold valley wind and clean water.

This is a unique theme experience festival full with good shows and 40 or about various experience programs, such as ice sledding, snow sledding, snow sculpture and ice soccer, Sancheoneo experience programs combined with the image of Hwacheon that has clean natural environment with the first grade clean water in Bukhangang (river) for catching Sancheoneo by hand, Sancheoneo fishing on the ice to catch the fish easily and enjoy the fishing by everybody, breaking the ice with 40cm thickness and above and looking at Sancheoneo in the deep water for your exciting play available for experiencing at Hwacheon only and heart-warm memory in winter.

Winter Sancheoneo! Sancheoneo Fishing! To mention about ice fishing, you need to catch at least one Sancheoneo. It is an elegant fish underneath ice out of comparison to the other fishes due to moderate size and beautiful shape.

Sancheoneo is hard to catch as it is rare but everyone can catch one or two Sancheoneo at Hwacheon with somewhat good luck and knack since 32 or 3 tons of fresh Sancheoneo are being put just under the fishing place every day for visitors for Sancheoneo festival. It is just the reason why a child or young girl without fishing experience is indulged in Sancheoneo ice fishing.

A recent poster introducing some of the events at the Hwacheon Mountain Trout
Festival on January 4-26, 2014. Ambassadors and senior diplomats are invited with
Their spouses and families to attend the Festival on Thursday January 17, 2014.
Individual invitation has already been transmitted to the Ambassadors and the senior
Diplomats. In the event of our transmission failure, please contact Ms. Kim Jeong-mi

At Tel 2298-1740/2, 010-3388-1682 or edt@koreapost.com. English-speaking callers
Please call David Chung at the same number and email address.