Tuesday, Oct. 28, 2014
Your Excellency:Here are Humor from Korean-language economic dailies, and a roundup of important headlines from all major Korean-language dailies, TV and other news media this morning:
Lee Kyung-sikPublisher-ChairmanKorea Post Media-------------------------------------------The Korea Post notices:
Tour of Pyunkang Oriental Clinic:
Our sincere apology: In our invitation faxed to Your Excellency, we inadvertently wrote October instead of November which is the correct month.The invitation is for the Excellencies and Madams to a Luncheon and Tour of Pyunkang Oriental Clinic for the exploration of possibilities of cooperation between Korea and your esteemed country in Oriential medicine through the use of Pyunkang Clinic.The meeting place is the Diplomatic Center in Socheo-dong where the Uzbekistan Embassy is located, the time is 1000 hours 12 November 2014, Luncheon at 1200 hours and tour of Pyunkang Oriential Clinic 1300-1500 hours. Whoever wishes a quick checkup and diagnosis for diseases, especially respiratory diseases that are rampant in the changing times before winter, Your Excellency and/or Madam are most welcome.It is an interesting tour good for the health of the people in your country as well as Korea, and I recommend that Your Excellency not miss the opportunity as it is only for several hours on that day and also in Seoul instead of the countryside. The following stories by The Korea Herald and The Korea Post would give Your Excellency an idea as to what to expect from the tour:
Korea Herald story (http://www.koreaherald.com/view.php?ud=20141009000329)The Korea Post story (/news/view.html?smode=&skey=Pyunkang&x=14&y=13§ion=165&category=192&no=595)-------------------------------------------
Attention, Trade Representatatives, Commercial Ministers, Counsellors, Officers!
Why don’t you use the real-time Korean-language Internet (www.koreapost.co.kr) of The Korea Post as well as the English Intern edition (www.koreapost.com)--for your public relations needs as well as for information needs? Please scroll down to the bottom for details.-------------------------------------------
Here is today’s ration of humor from a Korean-language business daily of this morning:
A man was sitting at an interview, in his new suit, looking his very best. As he put his hands down to make a point, he and his interviewer noticed the price tag was still attached to the sleeve. "Well" the man said, "at least I can take the suit back if I don't get the job."-----------------------------------------------Top Headline Stories of the Day:
Lee MB govt wastes $2 billion in overseas resources development
Kyunghyang Shinmun, Oct. 27, 2014During the five-year Administration of former President Lee Myung-bak, the energy-relatedstate corporations invested a total of 21 trillion won (approx. US$20 billion) in energy-related businesses overseas. However, of this amount, only one trillion won (US$100 million)was recovered. Confirmed losses already totalled 1 trillion won (US$100 million).Typical examples are the investments made by the Korea Resources Corporation (KORES) in Boleo Mine in Mexico, in the acquisition of Harvest Company of Canada by Korea National Oil Corporation and in the development of Shale gas development in Canada.For further details, visit http://www.hani.co.kr/arti/opinion/editorial/661581.html?_fr=mr1
DAPA deputy minister Oks buying W200 mil Navy sonar paying W4.1 billion
Media Daum Net, Oct. 27, 2014
DAPA Deputy Minister Kim Chul-soo responsible for buying Sonar for 4.1 billion won when theactual price was only 200 million wonWho is responsible for the purchasing of the Hull Mount Sonar (HMS) installed on the Republicof Korea Navy vessel, Tongyeong-ham, paying 4.1 billion won when the actual price was only 200million won?According to Kookmin Ilbo on Oct. 25, 2014, it was Deputy Ministger Kim Chul-soo of theDefense Acquisition Program Administration (DAPA) who signed the purchase document. There alsowere suspected irregularities in the course of price negotiation with the American company,but the DAPA authorites are believed to have turned a blind eye to them or acquiesced with thedeal in spite of such irregularities. This was disclosed by a document submitted to Rep. KimKwang-jin of the New Politics Alliance for Democracy (NPAD). According to this document,Deputy Minister Kim signed a report submitted to him from his supordinates asking forpermission to purchase the HMS in question for 4.1 billion won on Oct. 12, 2009 when Kimheaded a department that controlled and managed the prices of equipment purchased by the DAPA.For further details, visit http://media.daum.net/politics/others/newsview?newsid=20141027025704610-----------------------------------------------
'Abe Says No Intent of Revising Kono Statement'Japanese Prime Minister Shinzo Abe said reportedly that he has no intent of revising the 1993 Kono Statement, a landmark apology by Japan for its wartime sexual slavery.
Prosecution Seeks Death Sentence for Sewol CaptainProsecutors have sought the death sentence for the captain of the sunken ferry Sewol, Lee Joon-seok, on charges of homicide.
Saenuri Unveils Civil Servants Pension Reform PlansThe ruling Saenuri Party has unveiled a set of measures to reform the national pension program for civil servants.
S. Korea, Germany to Launch Advisory Panel on Unification This Week
US 6-Party Envoy Visits S. Korea Monday
Japan to Enhance Overseas Lobbying Activities on Historical Issues
Photo Exhibition on Ethnic Koreans from
Korean Air Sponsors Korean Language Service
1st South & North Korean Film Screening
Prosecution Seeks Death Sentence for Sewol Captain
Families of Missing Passengers of Sewol Ferry Vote for Continued Search
Police Confirms Shoddy Construction Work in Concert Accident----------------------------------------
S. Korean consumer sentiment slips to 3-month low Consumer sentiment in South Korea remained positive but dipped to a three-month low in October despite ongoing government efforts to bolster growth, data showed Tuesday.The overall consumer sentiment index (CSI) reached 105 in October, slipping from 107 in the previous month, according to the Bank of Korea. A reading above 100 means that optimists outnumber pessimists.
S. Korean Park In-bee regains No. 1 ranking in women's golfSouth Korean golfer Park In-bee has regained the No. 1 ranking in women's golf.2014/10/28 08:04
U.S. renews calls for transparency, high standards in China's AIIB push U.S. Secretary of State John Kerry has told Australia and other Asian nations that China's push to establish a regional development bank should be done in a transparent fashion with high standards of governance, his department said Monday. 2014/10/28 05:29
Report: N.K. offers to invite top U.N. human rights official in return for sparing leader from resolution North Korea has offered to invite the top U.N. human rights official to Pyongyang if the European Union drops any mention of referring the country's leader to the International Criminal Court from a U.N. human rights resolution, a news report said. 2014/10/28 02:59
City councilor gets life imprisonment for contract killing of wealthy man A Seoul court on Monday sentenced a member of the Seoul municipal council to life in prison for abetting the murder of a wealthy businessman to whom he owed hundreds of thousands of dollars.---------------------------------------------
The Korea Herald (http://www.koreaherald.com)
Death penalty sought for Sewol captainThe prosecution on Monday asked the Gwangju District Court to hand down a capital punishment sentence for sunken Sewol f...
Shin Hae-chul dies of heart failureRock star Shin Hae-chul died of heart failure Monday, aged 46. The singer died at arou...
Han warns of North Korean nuclear warhead technologySouth Korea’s Defense Minister Han Min-koo said Monday that North Korea’s technology to minia...
Saenuri pushes to delay pension for public sectorThe ruling Saenuri Party on Monday announced its public sector pension reform plan, which cente...
Brazil’s Rousseff, who held on for new termBRASILIA ― President Dilma Rousseff, a former leftist guerrilla once imprisoned and tortured by Brazil’...
Middle class sentimentNearly 75 percent of Koreans considered themselves middle class in 1989, a year after the co...
Sluggish economyBank of Korea Gov. Lee Ju-yeol held a rare breakfast meeting with a group of top corporate e... Navigating through the human brainMuch as humankind has been fascinated by the exploration of outer space, it has also been mesme...
KT to support ‘hidden champs’By Kim Young-wonBUSAN ― KT chief executive Hwang Chang-gyu said Monday that the South Korean e...----------------------------------
The Korea Times (http://www.koreatimes.co.kr)
Death penalty sought for Sewol captain Prosecutors have demanded the death penalty for Lee Joon-seok, captain of the sunken ferry Sewol, who is on trial for murder over the tragedy that claimed 304 lives, with 10 people still unaccounted for. Three other senior crewm...
Ruling party pushes drastic pension reform The ruling Saenuri Party proposed Monday changing the age when civil servants receive their state pension from 56 to 65 beginning 2031, in order to reduce demand on the debt-ridden pension fund for government employees. In addit... 'Asia to lead power industry transformation' JEJU ISLAND - The largest event for power companies in the Asia-Pacific region kicked off here Monday for a five-day run to discuss how to transform the global energy industry into a “smart and greener” one. KEPCO is hosting the...
Renowned pop singer Shin Hae-chul dies Renowned pop singer Shin Hae-chul was declared dead Monday evening at Asan Medical Center, five da...
Chung Mong-gyu eyes FIFA post Korea Football Association (KFA) President Chung Mong-gyu will run for a seat on the FIFA Executiv...
LG Uplus hit for 'excessive' marketing for iPhones Korean LG Uplus, the nation’s smallest mobile carrier, has come under attack for its “excessive” marketing strategy in its bid to sell more Apple iPhones, company of...
Disputed energy initiatives hit Park gov't Former President Lee Myung-bak’s controversial overseas energy initiatives will likely affect the Park Geun-hye administration as her chief economic policymak...
Councilor sentenced to life for murder plot The Seoul Southern District Court sentenced Kim Hyeong-sik, a member of the Seoul Metropolitan Cou...-------------------------------------
Dong A (http://english.donga.com)
Defense minister: ‘OPCON transfer not an issue of military sovereignty’ The ruling and main opposition parties had intense dispute over another postponement of wartime operational control (OPCON) transfer at parliamentary inspection of the Defense Ministry by the National Defense Committee...
Battle over N. Korean human rights Kim Hye-sook, 53, who spent 28 years at a notorious North Korean concentration camp, testifies on the human rights situation in the communist state at a special forum at the U.N. headquarters in New York on Wednesday;...
‘Anti-corruption’ education sidelined in school curricula Education on integrity at schools has thus far been sidelined due to school curricula focused on admission to upper schools. The decision by the Gyeonggi Provincial Office of Education to add a segment on...
Tokyo’s abduction inspection team visits N.K. in 10 years The Japanese government sent a government delegation to reexamine the issue surrounding Japanese people who had been abducted to North Korea on Monday. It is the first time in 10 years since November 2004 that Japanese...
Korea Football Association chief to run for FIFA executive committee membership
Samsung SDI enables handbags to charge phone battery on the go
Fan uproar prompts Kia Tigers` manager to resign
Korean Air beats Hyundai Capital with invincible blockings
Lee Jeong-min wins silver in rowing at Asian Para Games ----------------------------------------------
Chosun Ilbo (http://english.chosun.com)
Divers Suffer as Search for Ferry Victims ContinuesMore than 100 days have passed since divers found the last body in the ferry that sank off the southwest coast on April 16. But the search for the missing victims continues, and 32 divers go to work every days searching for bodies. >> Full Text
Filming of WWII Sex Slaves Movie Gets UnderwayThe shooting of a film about the life of women who were forced into sexual slavery for the Imperial Japanese Army during the World War II started in Geochang, South Gyeongsang Province on Thursday. >> Full Text
Households Keep Wallets Shut as Income StagnatesThe main reason for lackluster private spending is a continued rise in the costs of education and housing while income growth remains virtually stagnant. Parents here spend an average of W347,000 a month per child on private crammers. >> Full Text
N.Korea Can Build Nuclear Warhead, USFK Chief Claims
Chinese Army Practices for War on Korean Peninsula
Preorders for iPhone 6 Soar
Depression on the Rise as Population Ages-------------------------------------------
South Korean government’s Big Brother-style surveillance coming to highways Use of cameras to collect data on motorists could violate the constitution’s warrant principle Police have set up an integrated system capable of automatically identifying and monitoring vehicles on highways around the country, it was learned on Oct. 26.The revelation looks poised to trigger a debate over real-time monitoring of the road, without sufficient safeguards to prevent abuses of investigative authority and violations of privacy.
OPCON transfer delay decision too focused on Cold War- style military deterrenceThe reasons given for South Korea‘s recent agreement with the US to indefinitely postpone the transfer of wartime operational control (OPCON) are being called “too convenient” and “arbitrary” by military and North Korea experts.
Latest OPCON transfer delay is Pres. Park’s latest broken campaign promise On Oct. 24, the Blue House responded to accusations that the US and South Korean agreement to delay once more the transfer of wartime operational control (OPCON) of the South Korean military is a violation of a campaign pledge made by President Park Geun-hye.
With 24-hour shifts and residents’ abuse, security guards grin and bear it“Just leave it in the security office.”It’s something every apartment dweller has said when a delivery person calls. But processing deliveries isn‘t actually one of the apartment security guard’s official duties. Now many of those guards - the same ones who have been parking cars, sorting trash,
Divorce rate increasing among elderly couplesSix years ago, K wrapped up his 34-year career as a civil servant and began to receive his pension, amounting to 3 million won (US$2,838) a month. Last year, his wife filed for divorce.For the 32 years they were married, K would cause problems for his wife time and time again - heavy drinking,-----------------------------------------------
Joong Ang (conservative): (http://koreajoongangdaily.joinsmsn.com/)
Execution asked for Sewol captainGwangju prosecutors yesterday asked for the death penalty for Lee Jun-seok, captain of the doomed Sewol, holding him accountable for “causing a calamity” on April 16 that left over 300 people dead or missing. Prosecutors asked for life imprisonment for three of the 14 Sewol crew members indicted… .
Saenuri details its overhaul of public pensionsThe ruling Saenuri Party yesterday unveiled an ambitious plan to overhaul the debt-ridden pension system for government employees with an aim to reduce taxpayer money…
Foreign banks try new strategies in trying timesForeign financial institutions struggling in Korea are changing their strategies and revamping their public images to survive.One of the biggest changes in strategy…
Date for high level talks not setThe two Koreas continued a tug-of-war over high-level government talks as the North complains about propaganda leaflets flown over the border while Seoul keeps…
President returning to Assembly for speechPresident Park Geun-hye will deliver an address at the National Assembly tomorrow to explain her budget plans for the coming year and seek bipartisan support for…
Minister says North has tech for uranium bombA top defense official said yesterday North Korea has the technology to build uranium-based atomic bombs, the first such admission by the South Korean government.…------------------------------
[Table] Today’s Stock Market BriefThis is a stock market brief of Today. [table] Total stock market id="" width="570...
[Closed]KOSPI 1,934.94p( 15.42p) slightly up, KOSDAQ 546.83p( 5.04p) slightly upKOSPI & KOSDAQ Index Closed KOSPI closed slightly up 15.42p( 0.80%) at 1,934.94p from yesterday. KOS...
[Table]Currently Index of Major Country in ASIAThis is Index of Major Country in ASIA. [table] Index of Major Country in ASIA ...
[Midday]KOPSI 1,931.41p( 11.89p) slightly up, KOSDAQ 546.56p( 4.77p) slightly upKOSPI & KOSDAQ Index KOSPI slightly up 0.62%(11.89p) to 1,931.41p at 14:01. KOSDAQ slightly up 0....
[Table]Currently Index of Major Country in ASIAThis is Index of Major Country in ASIA. [table] Index of Major Country in ASIA ... ---------------------------------------------
Maeil Kyungje (neutral-oriented conservative, economic/business): (http://news.mk.co.kr/english/)
Public servants to start receiving pension at age 65
The ruling Saenuri Party announced Monday a ‘partial revision to the Public Servant Pension Act,’ which revises upward the age of recipients entitled for pension benefits over several phases from the current 60 to 65 by 2031. The party also decided to introduce the ‘income redistribution clause,’ which readjusts benefits of civil servants based on the average income of all public servants to ensure fairness between retirees who receive bigger bene.....10.27.2014
Property stimulus ends up only raising ‘jeonse’ in..
Smartphone faceoff: Samsung Galaxy Note Edge vs Appl..
Ground broken for S. Korea’s biggest R..
Chinese economists: Korean firms should..
Gov’t mulls extension of tenant protec..
S. Korea sparks race to 5G
The Korea Post notices:
The Korea Post opens Korean-language Business-Economic Internet editionI am pleased to inform Your Excellency that The Korea Post is renovating its Korean-language Internet on a massive scale to contribute to the promotion of trade and economic cooperation between your esteemed country and Korea.The new Korean-language Internet edition will primarily accommodate the publicity needs of the Commercial-Economic Section of your esteemed Embassy for the Korean audience as well as the business community.In connection with this effort, we would like to secure the following information for prompt communication between the Korean-language Internet of The Korea Post and your Commercial-Economic Section:
Name of Commercial-Economic Officer(s)Email addressTelephone, fax and mobile phone numbersMailing address for regular mail such as complimentary copies of The Korea PostAny other information considered by the Embassy to be useful between the Embassy and The Korea Post.
The contract information of The Korea Post is:
Tel 2298-1740/2, Fax 2298-9506010-3386-1682 Ms. Kim Jung-Mi for Korean callers010-5201-1740 Chairman Lee Kyung-sik (for English)Email address: firstname.lastname@example.org
The Korea Post news:
Newly 60% of people favor Constitutional change for a Cabinet system amidst opposition by Cheong Wa Dae
Reform-minded Chairman Kim Moo-sung of the ruling Saenuri Party said during his recent visit to China that he expected discussions would become active for a Constitutional change to effect a Cabinet system of government instead of the present Presidential system where the President is given very much power.The Cabinet system provides the President with power to take charge of the national defense and diplomacy but gives the power of domestic administration to the Prime Minister. This system was used in 1960 but was short-lived due to a military coup d’etat carried out by the late former President Park Chung-Hee.Chairman Kim’s statement was met with opposition from Cheong Wa Dae and Kim withdrew his view of the Constitutional change mindful of the attitude on the part of Cheong Wa Dae (the President).However, Kim’s proposal for a Constitutional change has a rather broad support from the main opposition New Politics Alliance for Democracy (NPAD) as well as from his own party of Saenuri.The Constitutional change also has the support of the majority of people in Korea, which is shown by opinion polls conducted by various media and research organizations.Here is one recent survey result published by popular Korean-language daily, Hankook Ilbo, on Oct. 20, 2014. It shows almost one half of the respondents support the Constitutional change.Specifically, the result showed 57.8% of the respondents saying yes to the Constitutional change (21.9% very much and 35.9% more or less yes) while only 29% said no (18.6% strongly no and 10.4% more or less no). People who make no response or said I don't know was 13.2%.------------------------------------
Attention, Trade Representatatives, Commercial Ministers, Counsellors, Officers!
Thank you for your warm interest in the separate English- and Korean-language Internet editions of The Korea Post. The Korean-language Internet edition is presently undergoing a massive renovation for the adequate accommodation of the increasing publicity needs of the trade/economic sections of the foreign embassies in Seoul.Both the English Korean Internet editions are allocating substantially large space to accommodate the publicity needs of the trade, investment and other economic affairs of the different countries for the promotion of cooperation in the trade, investment and other economic areas. For this purpose please email us (email@example.com or firstname.lastname@example.org) your press releases on the following or other subjects:
1. Scheduled visit of your trade, investment or other economic delegation to Korea and full details about the delegation, including members and purpose of visit.2. Scheduled visit of other delegations from your country3. Scheduled Trade or Industrial Fairs of exhibitions in your country, to which Korean participants are welcome.4. Do you also have any major art or other cultural exhibitions in your country where you wish to invite Korean participants?5. Do you have bilateral economic commission meetings in Korea coming soon? Any plan to encourage Korean participation in such meetings? 6. If you have whatever other events or meetings coming soon where Korea’s participation is desired, please elaborate on them and email them to the above addresses.
The contact information of The Korea Post is:Tel 2298-1740/2, Fax 2298-9506010-3386-1682 Ms. Kim Jung-Mi for Korean callers010-5201-1740 Chairman Lee Kyung-sik (for English)