Headlines, December 15, 2020

Tuesday, December 15, 2020

Round-up of important news from major Korean dailies and from international media today

The Korea Post (http://www.koreapost.com/)
Approval rating for President Moon Jae-in plunges to the lowest level of 36.7%
The approval rating for President Moon Jae-in has fallen to 36.7%, the lowest ever, the Realmeter said in its survey on Dec. 14. President Moon's highest positive assessment since taking office was 84 percent in the first week of June 2017.
According to a five-day survey (Dec. 7~11) of 2,531 people aged 18 or older conducted by Realmeter at the request of YTN, the approval rating for President Moon (positive assessment) was 36.7 percent, down 0.7 percentage points from the previous week.
On the contrary, the negative assessment rose by 0.8 percentage points to 58.2 percent. Unanswered or not-knowing answers were down 0.1 percentage point to 5.1 percent.

Chung Mong-koo Foundation says, 'Ondream Ensemble presents special stage’
Hyundai Motor's Chung Mong-koo Foundation, led by Chairman Kwon O-kyu, unveiled its regular concert of Ondream Ensemble and Ondream Recital on Dec. 11, which consists of students majoring in classical music among the foundation's cultural and artistic scholarship students, through its YouTube channel.
For this online performance series, the 8th Ondream Ensemble Regular Concert was filmed without audience at the IBK Chamber Hall of the Seoul Arts Center on Nov. 19.
Although there were no loud shouts from the audience who filled the auditorium every year, the enthusiasm of 43 scholarship students and six guidance professors in five parts of the piano, vocal, string, wood wind, and brass wind prepared for the performance was greater than in any other year.

POSCO Chairman Choi Jeong-woo recommended as the next CEO
POSCO Chairman Choi Jeong-woo, whose term is to expire in March next year, was unanimously recommended by POSCO's board of directors as a candidate for the next CEO on Dec. 11.
The recommendation came after the CEO candidate nomination committee, which consists of all outside directors, reported to the board the results of its review of qualifications that Chairman Choi is suitable for the next CEO candidate.
The board of directors voted last month to form a committee and examine Choi's qualifications as the next CEO following Choi's announcement of his intention to serve a second term.
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KBS (http://world.kbs.co.kr/english/news/)
National Assembly Passes Bill on Banning Anti-N. Korea Leaflets
The National Assembly on Monday passed a controversial bill that bans anti-North Korea leaflet campaigns amid fierce opposition protests.
The parliament held a plenary session on Monday evening and passed the bill as 187 lawmakers in attendance all voted in favor.
The ruling Democratic Party and the minor opposition Justice Party took part in the voting, while the main opposition People Power Party(PPP) and the minor opposition People Party boycotted it.

COVID-19 Vaccination Begins in US
The initial COVID-19 vaccination in the United States has begun with the first shipments of Pfizer's vaccine being transported across the nation.
One of the first doses of the vaccine went to a critical care nurse in New York on Monday.
Sandra Lindsay at Long Island Jewish Medical Center received the shot live on camera, with footage streamed on the Twitter feed of New York Governor Andrew Cuomo.

Choo Continues to Criticize Prosecution ahead of Disciplinary Panel Review
Justice Minister Choo Mi-ae continued to criticize the prosecution, a day before a disciplinary committee is set to resume discussions on taking action against Prosecutor General Yoon Seok-youl, who faces misconduct allegations.
On her social media account on Monday, Choo referred to a book written by a local prosecutor-turned-lawyer who criticizes the state agency, accusing the prosecution of refusing to look back on its corrupt practices.
The minister said unless citizens remain vigilant and make level-headed judgments, both the prosecutorial and judicial powers can be abused in seizing democracy.
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Yonhap (http://english.yonhapnews.co.kr)
New virus infections under 1,000 on fewer tests; efforts extended to find more potential cases
South Korea's daily new coronavirus cases fell back below 1,000 on Monday on fewer tests over the weekend after topping the mark for the first time the previous day, with health authorities struggling to conduct more virus tests to rein in further spread.
The country added 718 more COVID-19 cases, including 682 local infections, raising the total caseload to 43,484, according to the Korea Disease Control and Prevention Agency (KDCA).
On Sunday, the country reported its largest daily caseload ever of 1,030 new coronavirus cases, setting yet another fresh high after reporting 950 cases Saturday.

Moon says gov't to focus on protecting 'vulnerable' people amid virus crisis
President Moon Jae-in stressed the urgency Monday of supporting owners of small businesses and self-employed people hit hard by the drawn-out COVID-19 pandemic.
He also called for the speedy use of next year's budgets earmarked for the creation of more than 1 million "emergency jobs" for the vulnerable.
"Protecting people who suffer difficulties, first and foremost," would be the "starting point" of the government's related efforts, he said, speaking at the outset of his weekly meeting with senior Cheong Wa Dae aides.

Hundreds of special forces personnel mobilized to support virus fight
More than 300 Special Warfare officers were dispatched to public health centers Monday to help with the government's handling of the new coronavirus, the Army said.
A total of 379 officers from the Army's Special Warfare Command were sent to 78 public health centers in Seoul and the surrounding areas to conduct diverse supporting roles, such as contact tracing, data management and transferring samples for virus tests for two months, according to the Army.
The move came as the metropolitan area has reported large numbers of COVID-19 cases in recent weeks. On Sunday, the country's number of daily infections hit a record high of 1,030, and nearly 80 percent of them were from Seoul, the western city of Incheon and Gyeonggi Province.
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The Korea Herald (http://www.koreaherald.com)
KDCA predicts up to 1,200 cases per day
Korea stopped short of the most stringent restrictions in its COVID-19 playbook on Monday, amid a record-shattering surge in infections.
The Korea Disease Control and Prevention Agency’s chief Jung Eun-kyeong said in a news briefing that the nation was facing “the worst phase yet in the pandemic,” urging people to abide by social distancing rules.
“Cancel all plans and stay at home as much as possible. Wear face masks in any social situation, indoors or outdoors,” she said.

Revised Commercial Act weigh on firms ahead of shareholders meeting season
South Korea’s listed companies are under growing pressure to overhaul their audit systems in time for their regular shareholders meetings, slated for February and March next year, due to a new set of corporate regulations set to take effect soon.
As the new rules restrict the voting power of owner families in the appointment of auditors, conglomerates will focus on defending their managerial authority from external influence while smaller businesses are likely to struggle to attract qualified personnel.
The Korea Listed Companies Association recently sent out an official letter to member firms, delivering the gist of the “Three Acts for Fair Economic Order,” officials said Monday. The Kosdaq Listed Companies Association, a group of firms on the nation’s tech-heavy secondary bourse, is also drafting a similar message for its member firms.

Woman who saved Statue of Peace in Berlin
The Statue of Peace, which symbolizes the victims of Japanese military sexual slavery during World War II, stands in a central district in Berlin known as Mitte.
It was the first of three such statues to be installed in a public place in Germany. But in October, it was on the verge of being removed due to strong opposition from the Japanese government. Many activists and nongovernmental organizations in Germany gathered around the statue and raised their voices about the importance of keeping it in place.
After discussing the issue with those involved in the decision-making process, including neighbors, Berlin’s Mitte district parliament ruled that the statue can stay where it is for a full year as planned.
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The Korea Times (http://www.koreatimes.co.kr)
Moon's approval rating hits record low amid virus resurgence
President Moon Jae-in's popularity is faltering in line with the resurgence of COVID-19 infections, with his job approval rating on a downward spiral following the mishandling of a series of state affairs, including botched real estate policies and a feud between Justice minister Choo Mi-ae and top prosecutor Yoon Seok-youl.
This is dealing a fatal blow to Moon and his administration as he has relied heavily on the government's handling of COVID-19 as the backbone for his support at the beginning of the year, when the nation was lauded in the global media for its exceptional response to the pandemic.
The sweeping victory of his Democratic Party of Korea (DPK) in the April general election was also on the back of the strong coronavirus response from the administration. Moon's support rate even rose to 71 percent in early May according to Gallup Korea.

Legislation banning anti-North Korea leaflets new thorny issue between South Korea, US
The government's plan to legislate a ban on anti-North Korea leaflet campaigns may become a matter of contention with the United States, as concern over the move is coming to the fore in Washington, according to diplomatic experts, Monday.
The ruling Democratic Party of Korea has sought to pass a bill that will prevent mainly North Korean defectors and human rights activists from flying propaganda leaflets or other materials critical of the Kim Jong-un regime over the border into North Korea with the claim that it will help protect residents in border regions and ease cross-border tensions.
The latest criticism of the proposed law came from Chris Smith, a veteran Republican Congressman who co-chairs the Tom Lantos Human Rights Commission in the House of Representatives, a bipartisan congressional body that promotes, defends and advocates for human rights.

Korean firms' RE100 adrift amid KEPCO's power monopoly
Korean firms' plans to join the RE100 campaign, meaning running their companies on 100 percent renewable energy, have been stalled as politicians have failed to make progress on introducing rules ending the state-run Korea Electric Power Corp.'s (KEPCO) monopoly over domestic power distribution.
Vendors and suppliers to global companies are facing growing demand to join the RE100 campaign, but their efforts are not picking up speed due to difficulties in securing electricity generated only from renewable sources because KEPCO collects electricity generated by its subsidiaries and independent power companies, and sells it as a single source.
To allow more firms to go 100 percent renewable, industry officials say Korea needs to have the legal grounds allowing power purchase agreements (PPA) connecting consumers to renewable energy source providers, but discussions to introduce a PPA here have failed to pick up speed due to the opposition party's concerns of a "market disturbance."
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HanKyoReh Shinmun (http://english.hani.co.kr)
S. Korea may see over 2,000 cases a day, infectious disease experts warn
South Korea’s daily caseload of COVID-19 surpassed the 1,000 mark on Dec. 13, but infectious disease experts called the situation “predictable,” adding that the country’s current outbreak is likely to continue in the immediate future. Some offered dismal predictions that if the current trend keeps up, South Korea could end up like Japan, with over 2,000 cases a day. While some advocated implementing Level 3 social distancing measures, the government plans to acquire more hospital beds while massively increasing testing of presymptomatic/asymptomatic cases and young people as of Dec. 14.
The explosive increase in cases in the space of two days — from 689 on Dec. 11 to 950 on Dec. 12 and 1,030 on Dec. 13 — is the result of a failure to contain COVID’s spread in the Seoul Capital Area (SCA). As of Dec. 13, the SCA accounted for 786 out of 1,002 community cases, or 78.4%. A major factor was the emergence of large infection clusters in settings with high concentrations of high-risk individuals, such as nursing facilities and churches. Scattered infections in schools, activity clubs, public baths, workplaces, and after-school academies also contributed to the outbreak.

S. Korea’s daily caseload exceeds 1,000 for first time
The explosive increase in new COVID-19 cases in Korea continued with a total of 1,030 on Dec. 13. This is the highest figure recorded since South Korea reported its first case on Jan. 20, and greatly exceeds the first wave in February and March across Daegu and North Gyeongsang Province. While some are recommending elevating social distancing measures to Level 3, the Korean government plans to use this only as a last resort in light of the social and economic damage that would ensue. Instead, the government is moving to secure an extra 10,000 hospital beds under the assumption of 1,000 cases per day over the next 20 days.
The Central Disaster and Safety Countermeasures Headquarters (CDSCH) stated that as of Dec. 13, Korea had 1,002 new domestic transmissions and 28 cases stemming from overseas. The rate of increase is very steep: the daily caseload exceeded 600 for several days before jumping to 950 on Dec. 12 and then surpassing 1,000 the next day. Until that point, the daily caseload had never exceeded 1,000. The highest numbers recorded during the first and second waves were 909 (Feb. 29) and 441 (Aug. 27), respectively.

S. Korea has produced no new firms among top global companies in past 10 years
Nine companies from the US, 11 from China, and five from Japan have entered the list of the world’s top 100 companies over the past decade, but no companies from South Korea have managed to do so. Analysts point to an invisible glass ceiling in the circulation of wealth in Korea’s corporate world and argue that its corporate metabolism is congested.
A report titled “The Metabolism of South Korean Companies Seen Through the Lens of an International Comparison,” published by the Korean Chamber of Commerce and Industry on Dec. 13, analyzed the status of Korean companies using global rankings of self-made entrepreneurs and companies including Forbes’ Global 2000, Fortune’s Global 500, and The World’s Billionaires by Forbes.
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Chosun Ilbo (http://english.chosun.com)
Infections Spike to over 1,000 a Day
Daily coronavirus infections surpassed 1,000 over the weekend as a bitter winter descended on the country. Some 1,030 cases were added on Sunday morning, the most since the outbreak of the epidemic here in January. On Monday morning the tally fell again to 718 cases, but that was probably because fewer tests were conducted over the weekend.
President Moon Jae-in said during a meeting with top health officials Sunday, "If we do not stem the spread of infections now, we stand at a very critical moment of having to consider going into full lockdown."
"Be prepared to make a bold decision if the disaster headquarters deems it necessary." He admitted that such a move will entail "unimaginable pain and damage" and stressed that it would only be considered as a "final option."

U.S. Unveils Hypersonic Missile
The U.S. has released a video clip of a hypersonic missile that could strike major facilities in North Korea in just 30 seconds if fired from Seoul. No existing weapons system can intercept it.
The video shows the AGM-183A Air-launched Rapid Response Weapon being loaded on a B-52 bomber at Edwards Air Force Base in California on Dec. 11.
It can travel at a speed of more than Mach 20 or 24,695 km/h. That means it could hit facilities in Pyongyang, which is about 192 km from Seoul, in 30 seconds. It could strike any target around the world in just a few hours.

Kindergartens, Elementary Schools Close Again
Kindergartens and elementary schools will close and switch to online classes on Tuesday due to a surge in coronavirus infections.
They tentatively reopened recently as long as only one-third of students were allowed to attend at any one time. Middle and high schools in Seoul already closed on Dec. 7 until the end of the year.
"We decided to close schools as the safety of students are the top priority, although around 75 percent of kindergartens and elementary schools in Seoul will soon go into their winter vacation by the end of the year," the Seoul Metropolitan Office of Education said Sunday.
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The Dong-A Ilbo (http://english.donga.com/)
Hyundai Motor’s hydrogen car market share reaches 74%
Hyundai Motor Company has been leading the world’s hydrogen-electric car market since last year thanks to its diverse hydrogen-electric car line-up of the SUV, bus, and truck.
According to market research company SNE Research on Monday, the number of hydrogen cars sold worldwide from January to September this year is 6,664 – 4,917 or 73.8 percent of which were from Hyundai Motor Company. The automobile company’s sales increased by 61.3 percent year-on-year. Japan’s Toyota and Honda – ranked second and third – saw 61.8 percent and 27.2 percent decrease, respectively, only recording the sales of 767 and 187 units.

US expresses concern over S. Korea’s act on unfair Google fees
The U.S. government has reportedly voiced its concern over the so-called “act on unfair Google fees” that is going through the South Korean parliament.
According to Rep. Jeon Jae-su of the Democratic Party of Korea and relevant ministries on Monday, the South Korean Embassy in the United States shared a summary of a phone call with the Office of the United States Trade Representative (USTR) regarding Google’s App Store policies with the Ministry of Foreign Affairs, the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT and Korea Communications Commission. Although the details of the classified document have not been published, the document is said to contain concerns of USTR. “The document says South Korea’s new bill targets a specific company,” said a source from the Democratic Party of Korea. “It says South Korea will be penalized if it becomes a trade issue.”

Yeondeunghoe to be listed as UNESCO intangible cultural heritage
A lantern lighting festival called Yeondeunghoe, which is one of South Korea’s biggest Buddhist events and National Intangible Cultural Asset No. 122, is expected to be listed as UNESCO intangible cultural heritage this week. According to the Ministry of Foreign Affairs on Monday, the decision on the inscription of the Buddhist event will be made during the 15th session of the UNESCO’s Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, which will be held this week in Paris (most likely on the 16th). The lantern lighting festival received an “inscribe” recommendation from the UNESCO’s Eval‎uation Body on Nov. 17.
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The KyungHyang Shinmun (http://english.khan.co.kr/)
President Moon, “A Critical Moment When We Need to Consider Level-3 Distancing”
On December 13, President Moon Jae-in referred to the recent surge of COVID-19 and said, “If we do not contain the spread now, we will face a critical moment when we will be forced to consider raising social distancing to level 3.”
This day, the president chaired an emergency meeting of the Central Disaster and Safety Countermeasure Headquarters on the novel coronavirus outbreak at the government office in Seoul and said, “We are facing the greatest crisis since COVID-19 entered the nation. It is truly a grave and urgent situation.”
President Moon said, “Raising social distancing to level 3 is our last resort,” and instructed the central disaster headquarters “to thoroughly prepare for such a situation and boldly make a decision when deemed unavoidable.” The president left the door open for a level-3 physical distancing after the number of daily new cases of COVID-19 exceeded 1,000 for the first time in South Korea.

Fast Antigen Tests with a 10% False Negative Rate Could End up Adding to the Burden on the Medical System
The third wave of COVID-19 is accelerating, and the government responded by setting up temporary screening clinics in areas popular among young people and introducing the fast antigen tests to drastically increase the number of diagnostic tests. However, experts are voicing their concerns.
Jung Eun-kyeong, director of the Korea Disease Control and Prevention Agency said in a meeting at Cheongwadae on December 9, “We will install temporary screening clinics in 150 locations including universities and Seoul Station, where a large number of young people gather, in order to block potential transmission sources in the Seoul metropolitan area.” She also shared plans to give people getting tested the option to choose the testing method among the existing PCR test, saliva test and the fast antigen test.

Nationwide Apartment Prices Jumped the Highest This Week, Prices Climbing Even Outside the Greater Seoul Area
Nationwide apartment prices rose 0.27% from the previous week, recording the biggest weekly increase in 8 years and 7 months. Multiple factors pushed prices up including the low interest rate, concerns due to rising jeonse (leases on a lump-sum deposit) prices, and demand for speculation.
According to the Weekly Trend of Nationwide Apartment Prices for the First Week of December (as of Dec. 7), released by the Korea Real Estate Board (formerly the Korea Appraisal Board) on December 10, the sales price of apartments nationwide rose 0.27% compared with the previous week. This is the biggest jump since the Korea Real Estate Board began releasing relevant statistics in May 2012.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korea on the brink of first-ever lockdown amid record infections
South Korean President Moon Jae-in warned the state may have to enforce its first full-scale shutdown as the country set new daily records for Covid-19 cases.
Moon, in a meeting on Sunday, called the latest spread “an emergency” and said the country was at a critical point of considering the strictest level 3 restrictions if the outbreak is not contained.
If enforced, this would be Korea’s first lockdown, though it would be at a weaker scale compared to United States or Europe.

Korean pay TV market braces for Disney entry next year
Disney will join South Korea’s pay TV market as part of its global launch of streaming service Disney+.
Walt Disney Company at an Investor Day event last week announced it would take its flagship streaming service to Korea, Eastern Europe and Hong Kong in 2021.
Disney+ has emerged as a formidable rival against streaming giant Netflix, armed with a huge catalog of popular brands including Disney, Pixar, Marvel, Star Wars and National Geographic. It first made its service available to the United States and Canada in November 2019 and racked up more than 30 million downloads in less than three months. It currently has 86.8 million subscribers in 30 countries, with some estimating this number to reach 260 million by 2024.

S. Korea readies legal changes to back sweeping industrial restructuring
South Korea will redesign its pillar industrial act next year for the first time in 12 years for a sweeping industrial restructuring by facilitating exits of marginal or zombie companies whose population has surged during the pandemic-ridden 2020.
According to an unnamed official from the Ministry of Trade, Industry and Energy on Sunday, the industry ministry has outsourced a comprehensive work to revamp the country’s industrial structure to draft a bill to revise the industrial development act by March next year.
The industrial development act sets the legal foundation for industrial policies.

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