October 4, 2016

TheKorean daily media headlines and humor

Tuesday, October 4, 2016

Your Excellency:

Here are The KoreaPost notices and around up of important headlines from all major Korean-languagedailies, TV and other news media of Korea today:

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

What’sticking in Korea today?

Hereis a quick roundup of important news stories from the major Korean news mediatoday:

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

Nat'lAssembly Operations to Get Back on Track from Tuesday

Parliamentaryoperations will get back on track from Tuesday as the ruling Saenuri Party willreturn to the parliamentary inspection of government agencies.

Seoul:N. Korean Human Rights Act Also Applies to N. Koreans Overseas

North Koreansstaying outside of their home country temporarily will be subject to SouthKorea’s law aimed at improving the human rights conditions in North Korea.

PotentialPresidential Candidate Advocates Preparations for Nuclear Armament

GyeonggiProvince Governor Nam Kyung-pil has stressed that South Korea needs to preparefor nuclear armament amid rising uncertainties surrounding security on theKorean Peninsula.

DefenseMinistry to Negotiate with Lotte to Buy THAAD Site

The SouthKorean military will launch negotiations with Lotte this week to buy a golfcourse in Seongju County in North Gyeongsang Province, which was announced asthe final site to house

Terminal HighAltitude Area Defense(THAAD) interceptors.

ForeignMinister to Visit Brussels to Boost Cooperation with NATO

ForeignMinister Yun Byung-se will leave for Brussels on Tuesday afternoon to seekfurther cooperation with the North Atlantic Treaty Organization(NATO) ondeterring North Korea from pursuing

its nuclearand missile programs

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

S.Korea's current account surplus hits 4-month low at US$5.51 bln in August

South Korea'scurrent account surplus hit the lowest in four months in August due to slowingexports and increased imports, central bank data showed Tuesday.

S.Korea's air passenger traffic soars to new monthly high in Aug.

South Korea'sair passenger traffic surged to a record monthly high in August withinternational passengers to and from the country also reaching a new all-timehigh, the government said Tuesday.

U.S.does not oppose Asian allies to build better ties with China: White House

The UnitedStates does not oppose the Philippines seeking better relations with China justas it encouraged other Asian allies South Korea and Japan to improve their tieswith Beijing,

the WhiteHouse said Monday.

GGGIseeks to deliver value-for-money investment opportunities: new chief

The GlobalGreen Growth Institute (GGGI) will deliver value-for-money investmentopportunities as it seeks to demonstrate that environmental-friendly growth isfeasible with rapid economic development,

the new headof the intergovernmental body promoting green growth, said Tuesday.

Onlinesales soar 27.3 pct in Aug. on scorching heat

Onlineshopping in South Korea soared at the fastest clip in more than four years inAugust as the scorching heat in the summer encouraged more people to enjoyinternet and mobile shopping,

a governmentreport showed Tuesday.

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The KoreaHerald (http://www.koreaherald.com)

SamsungGalaxy retains No.1 spot in brand value despite recall

Samsung’sflagship Samsung Galaxy topped the list of the top 100 Korean brands in thethird quarter of this year despite the ongoing global recall of its Galaxy Note7 smartphones,

a local brandresearch company said Monday.

Auditschedule back on track with Saenuri ending protest

A politicalstandoff surrounding a parliamentary audit has seemingly subdued after theruling Saenuri Party decided to withdraw its boycott and rival parties agreedto extend the period

of the auditsession.

Uncertaintylooms for Hanmi’s new lung cancer drug

South Koreandrugmaker Hanmi Pharmaceutical’s plans to globally commercialize its novel lungcancer therapy are in jeopardy after a patient died of a severe skin-relatedside effect linked

to the drug’suse.

Japan'sOhsumi wins Nobel for studies of cell 'self-eating'

Japanese scientistYoshinori Ohsumi was awarded this year's Nobel Prize in medicine on Monday fordiscoveries on how cells break down and recycle parts of themselves in aninternal garbage

disposalprocess.

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The KoreaTimes (http://www.koreatimes.co.kr)

Koreabraces for another powerful typhoon

A powerfultyphoon with heavy rain and gusty winds is approaching the Korean Peninsula.Typhoon Chaba, the 18th this year, is moving northward at the speed of 22kilometers per hour

from 280kilometers south of Okinawa as of Monday 9 a.m., according to the KoreaMeteorological Administration

Korea'sinhumane passengers

Imagine youare in a taxi and the driver suddenly loses control due to a heart attack. Thequick-thinking driver stops the car while still conscious, avoiding a possibledeadly collision.

S.Korea buys more Taurus missiles amid N. Korea nuke threats

South Koreaplans to buy more Taurus air-to-surface missiles that can strike North Korea'snuclear and missile facilities, military officials said Tuesday.

KoreaSale Festa welcomes foreigners

More than 260manufacturers and retailers in Korea are offering a huge opportunity forshoppers this month.

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DongA Ilbo (http://english.donga.com)

Giulianiturns into an exponent of Donald Trump

Former NewYork Mayor Rudy Giuliani (pictured) is making as many "foot-in-mouth"comments as Republican presidential candidate Donald Trump during the electioncampaign this year. Giuliani,

who earned thenickname "America's Mayor," after successfully handling the chaos inthe wake of the 9·11 terrorist attacks in 2001, has turned into an exponent ofDonald Trump.

ChungDae-chul tipped as new emergency committee head of People's Party

Standingadvisor Chung Dae-chul (pictured) is being considered as a prospectivereplacement of Rep. Park Jie-won, the head of the emergency planning committeeof the People's Party.

Mostdomestic firefighters use defective air fillers

Six out of 10air fillers that firefighters are currently using are aged products whose lifespanhas expired. More than half of those devices are also found to be unfit as theyfailed to prevent corrosion

caused byreversal of airflow, or moisture.

Mostdomestic firefighters use defective air fillers

Six out of 10air fillers that firefighters are currently using are aged products whoselifespan has expired. More than half of t…

ParkHyo-shin releases his new album in 6 years

It’s ParkHyo-shin vs. Park Hyo-shin. His recent album released in six years is toppinglocal charts by knocking off Im Chang-jun

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

Retirees Hurt by Worsening Relationship withChildren

Older people's quality of life gets rapidly worse whenthey retire, not because they feel the pinch very keenly or their healthdeteriorates but because they become estranged from their children.

50,000 Students Delay Graduation in Tough JobMarket

More than 50,000 university students have apparentlypostponed graduation plans amid a tough job market.

U.S. Moves to Block Chinese Imports ofN.Korean Coal

The U.S. government is trying to strangle North Korea'slucrative trade in coal and iron ore with China.

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

FormerUS Secretary of Defense favors “three Nos” on North Korean nukes

William Perryserved as US Secretary of Defense from 1994-1997, under President Bill Clintonand was coordinator of North Korea policy. In 1999 he published "Review ofUnited States Policy Toward North Korea:

Findings andRecommendations". He recently conducted a telephone interview with theHankyoreh’s Washington correspondent, discussing the failure of North Koreapolicy of President Barack Obama,

with itsinsistence that North Korea take steps toward denuclearization before anydialogue can take place.  

Pres.Park calls on North Koreans to defect to “the land of freedom”

South KoreanPresident Park Geun-hye openly called on North Koreans to defect to the South,encouraging them to “come to the land of freedom in the Republic of Korea atany time.”

This was amore overt expression of Park’s strategy of driving a wedge between the NorthKorean leadership and public by openly criticizing the leadership and bypersonally inciting unrest among the public.

Since Parkmade these comments with the collapse of the North Korean regime in mind, shehas effectively abnegated her responsibility to maintain stability in inter-Koreanrelations without offering any alternatives,

experts say.

FKI’sdecision to form a new foundation causes further controversy

The Federationof Korean Industries (FKI) has announced that it plans to form a new combinedfoundation with the remaining 75 billion won (US$68.2 million) in assets afterthe dissolve of the Mir and

K-SportsFoundations amid allegations of interference by the Blue House and unelectedpower brokers close to President Park Geun-hye.

USexpert says North Korean KN-11 missiles would neutralize THAAD

MIT professorTheodore Postol says instead of THAAD, South Korea could prepare an alternativesystem

Whileit is impossible to know how much progress North Korea has made on the KN-11and other submarine-launched ballistic missiles, developing the KN-11 wouldinevitably neutralize THAAD.”

SNUhospital to hold official meeting to discuss death certificate of farmer BaekNam-ki

Seoul NationalUniversity Hospital plans to hold an official committee meeting to discuss thedeath certificate for the late farmer Baek Nam-ki, which has been a source ofcontroversy since his death in late September.

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JoongAng Ilbo (conservative) (http://koreajoongangdaily.joins.com/)

Germanchamber of commerce celebrates 35 years

TheKorean-German Chamber of Commerce and Industry (KGCCI) has achieved a lot sinceits establishment in Seoul in 1981.

Stalemateat Assembly ends, audit continues

Ruling partylawmakers will participate in the parliamentary audit of the government todayafter the Saenuri Party announced Sunday it will end its week-long boycott andagreed with opposition parties

to extend theduration of the audit.

DHIDused 22 shell companies

TheDandong-based Chinese trading firm sanctioned by the U.S. last month forlaundering money for a North Korean bank linked to the regime’s weapons of massdestruction program used

at least 22front companies for U.S. dollar transactions, according to U.S. court papers.

Muchless ‘Dinner on me!’ after antigraft law

After anantigraft law went into effect on Sept. 28, fewer people are paying withcorporate credit cards at high-end restaurants and bars.

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The KyungHyangShinmoon (http://english.khan.co.kr/)

Donating Funds and the Willingness ofBusinesses

If the president of a society, a university professor,asked businesses to sponsor an international symposium and received funds,would this be the demanding and receiving of gifts or money banned

by the Improper Solicitation and Graft Act (a.k.a. KimYoung-ran Act)? If the government collects funds for the mutual development ofrural areas, is this legal? Is the Youth Hope Fund initiated

by President Park Geun-hye legitimate? Is a senior CheongWa Dae official legally allowed to demand businesses for funds to establish acultural foundation?

"Caring for the Elderly, theResponsibility Lies More on Society Than on the Children" Perspective ofSenior Citizens Change

The saying that the children are responsible for takingcare of their parents has become outdated. According to a recent survey, moresenior citizens now think that the responsibility for taking care of theelderly lie

more with the "family, government, and society"than with the "family" alone. This is the first time that the numberof senior citizens who believed elderly care should be put in the hands ofsociety outnumbered those

who believed that the responsibility remained with thefamily.

Hawking, "Future Changes in Our Way ofLife Due to Great Inventions... I Am Really Excited"

This is what the world's greatest living astrophysicistsaid about the innovation that future science and technology would bring,appearing as a hologram at the forum celebrating the seventieth anniversary

of the publication of the Kyunghyang Shinmun on the topic"The New Normal Era: Innovation & Insights," at the Lotte HotelCrystal Ballroom in Sogong-dong, Seoul on September 28.

Dr. Hawking appeared as a hologram to the left of a largescreen on the forum stage.

Government Continued to Build Nuclear PowerPlants Despite the Risks of an 8.3 Magnitude Earthquake

The government, Cheong Wa Dae, and the ruling party helda meeting of senior officials and decided to declare Gyeongju, Gyeongsangbuk-doas a special disaster area due to damages from the latest earthquake.

This will allow the central government to share the coststo restore the area, and provide tax exemptions and reduce public utilitybills, such as electricity and gas, for the residents in the disaster area.

However, the government should not think the situation isover just by declaring the special disaster area and announcing a few responsemeasures.

Expensive Restaurants Complain, "NoGuests," While Cafeterias Cry out, "No Tables”

Due to the enforcement of the "Kim Young-ranAct," Yetnaljumulleokjip, a famous restaurant specializing in Korean beeflocated near Incheon City Hall will close its doors on September 30, 38 yearsafter it first opened.

This restaurant has three items on its menu: Korean beefthat is priced at 38,000 won, 47,000 won and 53,000 won per serving. Therestaurant had an average of fifteen dinner reservations a day,

but on September 28, the first day the Kim Young-ran Actcame into effect, there was not one reservation. There was only one reservationfor September 29. This restaurant will temporarily close and plans to reopen

after developing a bulgogi dish that they can charge forless than 25,000 won.

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The Korea EconomicDaily (http://english.hankyung.com/)

Korea's September Exports Down 5.9%...Due to Auto Strikeand Galaxy Note 7 Incident

Korea's export performance, which turned to the positive realm in Augustafter continuous decline for 20 consecutive months, again moved to a negativefigure in September. This is largely because of the strike staged

by Hyundai Motor union members and the recall crisis suffered by SamsungElectronic... 

Real Estate Loan Balance Hits 160 Tril. Won...Bank ofKorea

The balance of loans given out to corporations including self-employedproprietors by deposit handling financial institutions for the purpose of realestate purchases and investments has surpassed the 160-trillion-won level

for the first time in history. According to the Bank of Korea on October 2,...

NPS to Invest 50 Bil. Won in Hyundai Motor's CorporateBonds

The National Pension Service plans to invest 50 billion won in HyundaiMotor's 300 billion won corporate bonds which will be issued on October 5.

H&M's Luxury Brand "& Other Stories" toLand in Seoul

A Sweden-based fashion company H&M Group's luxury fast fashion brand"& Other Stories" will steer into the Korean market early nextyear.

Hanwha Chemical's Saudi Plant Achieves ExtraordinarilyHigh Level of Profit

Hanwha Chemical's petrochemical plant in Saudi Arabia "InternationalPolymer" has achieved an extraordinary level of operating profit-to-salesratio. The operating profit-to-sales ratio of the petrochemical industry

is averaged at around 5-10 percent.

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AJU BusinessDaily (http://eng.ajunews.com/korea)

Panasonicjoins flexible battery war led by Samsung and LG

Japaneseelectronics company Panasonic has introduced its flexible lithium-ion battery,joining the ranks with global leaders like Samsung and LG which haveaccelerated the development of flexible batteries

as their newgrowth engines.

Courtmulls 'package sale' of STX units

A South Koreancourt may push for the "package sale" of STX Offshore &Shipbuilding, once the nation's number four shipbuilder, and its two…

USdoes not oppose Asian allies to build better ties wi…

The UnitedStates does not oppose the Philippines seeking better relations with China justas it encouraged other Asian allies South Korea a…

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

SamsungElec resumes sales of Galaxy Note7

South Korea’selectronics behemoth Samsung Electronics Co. resumed the sales of its GalaxyNote7 smartphones after it suspended sales due to a battery cell problem andthe electronics giant sold

more than30,000 units of the phablet for the weekend.

S.Korea’s exports falls in Sept due to strikes and Galaxy Note7 recall

South Korea’sexports in September sank 5.9 percent from the same month of last year to reach$40.9 billion, turning downward in one month, due to flagging exports caused bystrikes of the country’s leading

automakerHyundai Motor Co. and recall of Galaxy Note7 of Samsung Electronics Co.,according to the Ministry of Trade, Industry and Energy on Saturday.

KOIMAChief calls for bold action to promote Korea’s buying power

By using its“buying power” in the global market as leverage, South Korea has been able tosecure new export partners more easily and it is time to be aggressive inpromoting Korea as a big importer

in the globalmarket, said Shin Myoung-jin, chairman of Korea Importers Association (KOIMA).

SoftbankCEO Son pledges $4.5bn in Korea`s IoT, AI, Energy over 10 yrs

Masayoshi Son,the chairman of Japanese telecommunications giant SoftBank Corp. pledged toinvest 5 trillion won ($4.5 billion) ...

LGChem to buy research and patent assets in cathode material biz from GS EM

South Korea’sLG Chem Ltd. is acquiring cathode material business from GS Energy Corp.’ssubsidiary GS EM, a move to step ...

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