October 14, 2016
TheKorean daily media headlines and humor
Friday, October 14, 2016
Your Excellency:
Here areThe KoreaPostnoticesandaroundup of important headlines from all majorKorean-language dailies, 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/)
Coast GuardDemonstrates Fire Power in Yellow Sea
The Incheon Coast Guard has carriedout a maritime live fire exercise near Seongap Island off the west coast toenhance its ability to respond to emergency situations.
Russel Warns N.Korean Nuclear Capability to Kill Leader Kim
Anchor: Amid North Korea'scontinuous pursuit of advancing its nuclear weapons program in defiance ofinternational demands, U.S. Assistant Secretary of State for East Asian andPacific Affairs Daniel Russel has warned that having the capability to launch anuclear attack could mean the immediate death of leader Kim Jong-un. In some ofhis strongest words made against the regime yet, Russel argued that Pyongyang'snuclear program has only diminished the security of North Korea.Mina Cha has more.
10 Killed AfterTourist Bus Catches Fire on Highway
A bus carrying a group of localtourists caught on fire after skidding against a guardrail on a highway nearthe southeastern port city of Ulsan, killing ten passengers aboard and injuringseven others.
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Yonhap (http://english.yonhapnews.co.kr)
Irontrade between N. Korea, China continuing despite U.N. sanctions
WASHINGTON,Oct. 13 (Yonhap) -- Iron trade between China and North Korea is continuingdespite the latest U.N. Security Council sanctions resolution that bans suchexchanges except for livelihood purposes, a U.S. expert said Thursday.
U.S.official warns N.K. leader of death if he attempts nuclear attack
WASHINGTON,Oct. 13 (Yonhap) -- The top U.S. official on East Asia has warned North Koreanleader Kim Jong-un could face death if he attempts to use nuclear weapons,stressing the nuclear program undermines his security rather than strengtheningit.
S.Korea's export prices down for 50th straight month in Sept.
SEOUL, Oct. 14(Yonhap) -- South Korea's export prices fell for a 50th consecutive month inSeptember due to declines in oil prices and demand for electric and electronicproducts, central bank data showed Friday.
USSRonald Reagan Carrier Strike Group to make port call in Busan Sunday
SEOUL, Oct. 14(Yonhap) -- The USS Ronald Reagan Carrier Strike Group (CSG) will make a portcall at South Korea's No. 1 port after finishing a joint naval exercise withSouth Korean forces, U.S. Naval Forces Korea said Friday.
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The KoreaHerald (http://www.koreaherald.com)
BOK cuts 2017growth forecast to 2.8%
South Korea’scentral bank cut its 2017 growth forecast to 2.8 percent from the July projectionof 2.9 percent, citing bigger uncertainty in the global economy and risks fromongoing corporate restructuring here.
Bob Dylan winsNobel Literature Prize
Americansinger-songwriter Bob Dylan won the 2016 Nobel Prize in literature on Thursday,a stunning announcement that for the first time bestowed the prestigious awardon a musician.
Advisory bodycalls for US tactical nukes as it meets with Park
President ParkGeun-hye’s advisory panel on unification policy has proposed a reintroductionof US tactical nuclear weapons and the constant stationing of other advancedstrategic assets on the peninsula as deterrence against North Korea’s evolvingthreats.
Survivalreality show asks, ‘democracy or dictatorship?’
Soon-to-airreality program “Society Game” observes contestants divided into two“societies” -- one a democracy, the other a dictatorship -- as they compete ina physically and psychologically draining fight for survival.
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The KoreaTimes (http://www.koreatimes.co.kr)
10dead in tour bus fire
Ten people died inside a tour bus that caught fire ona highway near the southeastern city of Ulsan on Thursday night.
Collegiansrespect firefighters most, politicians least
Collegestudents have selected firefighters as people who do the most important workbut are least appreciated. The collegians also picked firemen as the professionthey respect most.
KoreaSale Festa benefits duty free shops
Korea SaleFesta, the government-initiated nationwide sales event, has succeeded inboosting the sales of retailers. Among them, duty free shops turned out to bethe biggest beneficiaries.
[MySeoul Story] Hiking shows Seoul's beautiful contrast
Three yearsago, while visiting Seoul as a fresh graduate from medical school, I discoveredmy love for hiking. Having spent the first 20 years of my life in MidwesternAmerica, surrounded by hundreds of miles of cornfields and grassy plains,Seoul's undulating, mountainous terrain was a source of inspiration.
Koreanviolin prodigy dies of heart attack in taxi
Famous Koreanviolinist Kwun Hyuk-joo died of a heart attack in a taxi early Wednesday, onhis way to a Busan hotel just hours before a recital.
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DongAIlbo (http://english.donga.com)
Pres.Park vows to open all paths for N.K. defectors to S. Korea
President ParkGeun-hye on Thursday criticized some South Koreans for avoiding efforts toimprove the human rights situation for North Korean residents for fear of theNorth Korean regime’s backlash and expressing concerns over accepting anincreasing number of North Korean defectors to the South.
U.S.hedge fund Elliott expresses confidence in Samsung
U.S. hedgefund Elliott Management expressed confidence in South Korea’s embattled SamsungElectronics on Wednesday local time despite South Korean electronics giant’sdecision to discontinue its fire-prone Galaxy Note7 smartphone.
Trump’sadvisor says N. Korea should cease to exist
Michael Flynn,former director of the Defense Intelligence Agency and current nationalsecurity adviser to Donald Trump, said, “We should not let the current NorthKorea regime (which make repeated nuclear and missile provocations) exist for along time.”
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ChosunIlbo (http://english.chosun.com)
Earthquake, Typhoon Hit Tourism to HistoricGyeongju
The tourism industry in the historic city of Gyeongju inNorth Gyeongsang Province has taken a knock after the earthquake last monthcompounded by damage from typhoon Chaba.
N.Korea Reshuffles Diplomats in Europe
North Korea has been reshuffling chiefs of its diplomaticmissions in Europe after the defection of the No. 2 man in the London Embassyin July.
Fresh Woes for Hyundai Crisis as ExportsPlunge by Half
Hyundai's exports have fallen 50 percent so far thismonth amid protracted strikes that are holding up deliveries.
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HanKyoRehShinmoon (http://english.hani.co.kr)
Onthe defensive, Samsung seeking to replace Note 7 with S7 series phones
SamsungElectronics’s defensive strategy is drawing attention after the company took amajor hit to its business performance with the defect controversy anddiscontinuation of the Galaxy Note 7 smartphone.
Illegalfishing leading to head-on clash between South Korea and China
An Oct. 7incident in which a Chinese fishing boat deliberately rammed and sank a SouthKorean Coast Guard high-speed vessel is showing signs of escalating into ahead-on collision between the two governments.
Analystsays US shouldn’t “roll the dice” on removing troops from South Korea
Donald Trump’spledge to remove American troops from South Korea is very dangerous and couldlead to war on the Korean Peninsula, one American analyst has said.
BothTrump and Clinton say that with North Korea, all options are on the table
The campaignsof both Hillary Clinton and Donald Trump have declared that they are not rulingout any options in their North Korean policy, including a preemptive strike.But these remarks do not mean that either candidate is seriously consideringsuch an attack, experts say.
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JoongAngIlbo(conservative) (http://koreajoongangdaily.joins.com/)
ThreeKoreans found dead in Philippine field
Three Koreanswere found dead in a sugarcane field in the rural town of Bacolor, 75kilometers (47 miles) northwest of Manila, with gunshot wounds to their heads,the Ministry of Foreign Affairs said Thursday.
BOKslashes its 2017 growth forecast to 2.8%
The Bank ofKorea (BOK) shaved its 2017 growth forecast to 2.8 percent from 2.9 percentwhile holding this year’s at 2.7 percent. It also froze the benchmark interestrate during a monetary policy meeting on Thursday.
Bringback U.S. nukes, says Blue House report
A presidentialadvisory group on unification policy recommended the Park Geun-hyeadministration on Thursday bring back U.S. tactical nuclear weapons in order tostop North Korea’s continuing nuclear arms development.
Cellphonesdrag down ICT exports by 8.5%
Exports ofinformation and communications technology (ICT) fell for the 12th consecutivemonth as cellphones and televisions remained weak in foreign markets.
Spousescheat on salaries
A 41-year-oldengineer in Gangseo, southwestern Seoul, purchased two studio apartments inrecent years - but didn’t tell his wife. He’s never actually told her how muchhe earns.
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TheKyungHyangShinmoon(http://english.khan.co.kr/)
[Editorial]South Korea and China Need to Make a Calm Response to the Illegal FishingProblem
The Chinesegovernment's attitude on the sinking of a high-speed patrol boat of the SouthKorean Coast Guard, which occurred after a Chinese fishing boat intentionallycrashed into the boat in the Yellow Sea on October 7, is very disappointing. Ina regular press briefing on October 12, the Chinese foreign ministryspokesperson Geng Shuang said, "South Korea stated that it would not sparethe use of physical force in law enforcement, but they should not abuse theirpower to execute the law."
WillJay Y. Lee Show Leadership in Overcoming the Crisis?
The effects ofSamsung Electronics' decision to discontinue the Galaxy Note 7 just two monthsafter its release are now surfacing. The third quarter operating profit hasdecreased nearly 30% from initial estimates. The morale of Samsung employeeshas also dropped significantly.
[GalaxyNote 7 Discontinued] Extinguishing the "Flames" from a Series ofExplosions: Painful Scar on Samsung's Brand Image
The decisionto discontinue the Galaxy Note 7, armed with advanced technology, is seen as adesperate measure to block further damage from the series of explosions thatoccurred at home and abroad.
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The KoreaEconomic Daily (http://english.hankyung.com/)
BOKStill Optimistic about Economy to Grow 2.7% This Year
The economicgrowth forecast of 2.8 percent for the next year announced by the Bank of Koreaon October 13 is higher than that made by private-sector think tanks such asthe Korea Economic Research Institute (2.2%).
HanjinShipping Contacted Maersk for Possible Acquisition
The court hasapproved Hanjin Shipping to sell off its sales network in North America andAsia in a whole package. It was reported that Hanjin recently contacted MaerskLine, the world's largest container shipping company, to take part in thebidding for the deal.
POSCOICT to Build EV Recharging Stations in Costa Rica
POSCO ICT isset to establish an electric vehicle recharging infrastructure in Latin Americabeginning with Costa Rica.
McKinseySays "DSME Has Little Chances for Survival"
McKinsey thatconducted consulting on the restructuring of the Korean shipbuilding industryis known to have concluded on October 12 that chances are low for DaewooShipbuilding & Marine Engineering (DSME) to stand on its own foot again.
"Trainto Busan" Hit the Jackpot Overseas
The Koreanzombie movie titled "Train to Busan" is rewriting history of theKorean film industry, enjoying record-high popularity among Korean movies notonly in Southeast Asian countries such as Thailand, the Philippines, andIndonesia, but in Australia and France.
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AJU BusinessDaily (http://eng.ajunews.com/korea)
SamsungElectronics embarks on costly refund program
SamsungElectronics embarked on a costly refund program Thursday as a US hedge fundmade a friendly gesture suggesting the world's largest smartphone maker coulduse its smartphone debacle for a chance to improve corporate governance.
Courtkickstarts process of selling Hanjin Shipping assets
A court Fridaykickstarted the process of selling assets from South Korea's troubled containercarrier Hanjin Shipping which has been put under court receivership to avoidbankruptcy.
Foreigncruise ship passengers allowed to visit South Korea without visa
Chinese andother foreign tourists need no visa when they use designated cruise ships tovisit South Korea under a six-month pilot project that began this week to boostthe country's tourism industry.
Tenpassengers burned to death in expressaway traffic accident
Ten SouthKorean passengers returning from a trip to China were burned to death in ablaze that gutted a tourist bus in an expressway traffic accident near thesoutheastern city of Ulsan, police said Friday.
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Maeil BusinessNews Korea (http://www.pulsenews.co.kr/)
Galaxy Note7officially pulls out, likely hurt Samsung Elec OP by $5.7Bn until Q1 ‘17
SamsungElectronics Co. made it official to discontinue the controversial Galaxy Note7with propensity to overheating and explosion and estimated losses from thepullout of its latest flagship smartphone to extend to the first quarter ofnext year in the scale of 3.5 trillion won ($3 billion) on top of 2.94 trillionwon reflected in the third quarter.
Note7 canbecome lucky ticket for Samsung Elec and consumers: Roland Berger CEO
Thelatest face-losing and costly disaster with Galaxy Note7 could end upstrengthening Samsung Electronics and its relationship with customers dependingon follow-up actions to regain trust from the market, said Charles-?douardBou?e, chief executive officer (CEO) of Roland Berger Strategy Consultants.
China’sproperty bubble would be the first to pop: Zhiwu Chen
Thelatest real estate market boom in China hints that a property bubble may burstany time soon in China, posing a threat to the world’s second largest economythat is also expected to slow down below 6 percent, warned Zhiwu Chen, renownedeconomist and finance professor at Yale University, the U.S.
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