Headline, June 18, 2021
Headline, June 18, 2021
  • Lee Kyung-sik
  • 승인 2021.06.18 00:00
  • 댓글 0
이 기사를 공유합니다

Friday, June 18, 2021


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


The Korea Post (http://www.koreapost.com/)

Bangladesh, Korea have great potentials for stronger partnership in pharmaceutical, shipbuilding, IT and innovation

Ambassador Abida Islam of the People's Republic of Bangladesh in Seoul said, "Bangladesh is one of the fastest-growing economies in the world. Though ready-made garments have been the economy's driving force, Bangladesh is diversifying its economy to pharmaceuticals, I.T., shipbuilding, and others. We applaud South Korea's world-renowned efficiency in pharmaceuticals, ICT and innovation, and I am looking forward to forging a closer partnership with Korea in these sectors in the coming years." Speaking at an exclusive interview with The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985, Ambassador Islam said, " there are several potential areas where both Korea and Bangladesh could partner together for mutual advantage." Ambassador Islam then stated: "Bangladesh has a stable and growing market of over 160 million people with a strong pharmaceutical base. It produced the generic version of 'Remdesivir' during the pandemic, a drug used for the treatment of COVID-19, and exported quarantine products like masks and PPEs to the United States.


Representative Office of World Youth Association of Uzbekistan opens in Incheon

At the initiative of the Embassy of the Republic of Uzbekistan in the Republic of Korea, the representative office of the World Youth Association of Uzbekistan in the Republic of Korea was registered as a non-governmental organization (NGO) in the Republic of Korea. To mark the official launching of the association, an official opening event was organized in Incheon City on May 31, 2021.  On this event, Ambassador Vitaly Fen of Uzbeksitanin Seoul said, “In recent years, the issue of youth in Uzbekistan has been considered as one of the priorities of state policy, and on December 25 last year, for the first time in the history of Uzbekistan, the President had a sincere open dialogue with the youth of Uzbekistan by listening to their future goals and plans.” It was noted at the event that the issue of youth in Uzbekistan has recently been considered as one of the top priorities of state policy. The level of trust placed in youth in Uzbekistan has been significantly strengthened over the years and all opportunities are being provided to them to attain higher education and participate in the development of the country as well as be active citizens in society.


Bukhara to host international forum on Inter-Parliamentary Global Cooperation

The following article is based on press materials provided by the Embassy of the Republic of Uzbekistan in Seoul for publication by The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985.—Ed. On June 23-24, an international forum on Inter-Parliamentary Global Cooperation in the Implementation of the Sustainable Development Goals will be held in the Bukhara city. The aim of the Global forum is to expand the ties of inter-parliamentary cooperation in achieving the Sustainable Development Goals, to improve legislation in implementing national goals and objectives in this area, as well as to develop proposals and recommendations to strengthen parliamentary oversight mechanisms in this sphere. It is expected that the Secretary General of the Inter-Parliamentary Union Martin Chungong, President of the OSCE Parliamentary Assembly Peter Lord Bowness, Secretary General of the Parliamentary Assembly of Turkic-Speaking Countries Altynbek Mamayusupov, as well as the members of the parliament of foreign countries, inter-parliamentary organizations, youth organizations, government bodies, international organizations, NGOs, media representatives, experts from research institutions will take part in it both in the traditional mode and online.




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

N. Korean Leader Says Country Should Prepare for Dialogue, Confrontation with US

North Korean leader Kim Jong-un reportedly said his country should be ready for both dialogue and confrontation with the United States, particularly confrontation. It's the first public message that Kim has issued toward the U.S. and South Korea since the launch of the Joe Biden administration. According to the North's official Korean Central News Agency(KCNA) on Friday, the ruling Workers' Party held a plenary meeting on Thursday and analyzed the international situation and discussed the direction of the party's responses. On the third day of the meeting, Kim reportedly said that North Korea should be prepared for both dialogue and confrontation in order to protect its dignity and interests for independent development and to guarantee a peaceful environment and national security. He stressed that the nation should be more "fully prepared" for confrontation.


President Moon Returns Home after European Tour

President Moon Jae-in returned to South Korea on Friday morning after a weeklong trip to Europe. The president attended a Group of Seven(G7) summit in Cornwall, Britain last weekend as a guest. In the G7 session, Moon unveiled Seoul's plan to offer 100 million U.S. dollars in grants this year to help lower-income countries secure COVID-19 vaccines and an additional 100 million dollars in cash or materials next year. On the sidelines of the G7 summit, Moon held bilateral summits with the leaders of Britain, Australia, France, Germany and the European Union to discuss substantive measures to expand cooperation and the Korean Peninsula situation. The president then visited Austria on Sunday for a three-day state visit and agreed to upgrade bilateral cooperation to a "strategic partnership" during talks with Austrian Chancellor Sebastian Kurz.


PPP Floor Leader Criticizes Moon Admin., DP for Failed Policies

The main opposition People Power Party(PPP) criticized the Moon Jae-in administration and the ruling party for failed real estate and employment policies, calling the administration "condescending, old-fashioned and privileged." In a parliamentary address on Thursday, PPP floor leader Kim Gi-hyeon said that is the public's view, adding that the nation can't expect such a group to take care of the people's livelihoods and defend fairness. Kim said it was the government's so-called "income-led growth policy," not the COVID-19 pandemic, that triggered the economic slowdown. He said housing prices soared by a record rate during the Moon administration, while annual job expansion is only 22 percent that of the previous Park Geun-hye administration. The floor leader urged the government to apologize for failing to secure a sufficient COVID-19 vaccine supply so that they could be administered early.




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

Kim says N. Korea should be ready for both dialogue, confrontation with U.S.

North Korean leader Kim Jong-un said the country should be ready for both dialogue and, more importantly, confrontation with the United States, while calling for efforts to stably control the situation on the Korean Peninsula, state media reported Friday. During a key Workers' Party meeting, Kim "made detailed analysis of the policy tendency of the newly emerged U.S. administration toward our Republic and clarified appropriate strategic and tactical counteraction and the direction of activities to be maintained in the relations with the U.S. in the days ahead," according to the Korean Central News Agency. "The General Secretary stressed the need to get prepared for both dialogue and confrontation, especially to get fully prepared for confrontation in order to protect the dignity of our state and its interests for independent development and to reliably guarantee the peaceful environment and the security of our state," it said.


Moon back in Seoul after three-nation Europe visit

President Moon Jae-in returned to South Korea on Friday following a weeklong visit to Britain, Austria and Spain. He joined a Group of Seven (G-7) summit in the British county of Cornwall, which marked the first major multilateral summit to take place in the midst of the COVID-19 pandemic. Attending plenary sessions on heath, open societies and climate as a guest, Moon demonstrated Seoul's commitment to playing a bigger role in addressing pending global issues. He then made state visits to Austria and Spain, during which South Korea agreed to lift the level of bilateral relations with the countries to a "strategic partnership." Moon's summit diplomacy this time has served as an opportunity to confirm South Korea's enhanced international stature and improve relations with European countries, according to Cheong Wa Dae.


Fed's hawkish tone sets stage for BOK's rate hike this year

As the U.S. Federal Reserve hinted that it may raise interest rates earlier than previously projected, it could prod the Bank of Korea (BOK) to conduct its first post-pandemic rate hike later this year, analysts said Thursday. Ending its two-day policy meeting, the Fed's new projections saw at least two rate hikes for 2023, compared with its previous projection of no rate hike before 2024. The Fed also opened discussions about the timing of cutting its monthly bond purchases. Chairman Jerome Powell said the Fed has yet to decide on when to reduce the stimulus measure, but it raised its inflation forecast for this year. The Fed's hint of an earlier rate hike, which coincides with rising inflation, is expected to allow the BOK to join global central banks in withdrawing monetary stimulus.

Some analysts said the Fed might begin reducing its bond-buying program in October or November this year after announcing the timing of tapering in August.




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

18th-century Spain map links Dokdo to Korea: Moon

President Moon Jae-in said Wednesday that he believes an 18th-century map he was shown by Spain’s Senate library demonstrates Dokdo has always been a part of Korea, Cheong Wa Dae said. Moon, who flew to Spain after a summit in Austria, is wrapping up his three-day state visit Thursday. He began his Europe trip last week with the G-7 summit in England. The map, which was produced in the 1737 and is believed to be the oldest one drawn by a European, shows the Dokdo islets as part of Joseon -- the kingdom that preceded modern-day Korea -- according to the presidential office. Recently, the feud over Dokdo, which Japan claims as its territory, threatened to strain already sour ties. Tokyo called off a prearranged sideline meeting with Seoul at the G-7 summit because of South Korea’s plans for military drills around the islets, according to a Seoul official.


Pro-tattoo activists challenge “outdated” tattoo laws

Getting a tattoo is not illegal in South Korea, but having one done by an artist without a medical license is -- legislation that activists are fighting to fix, as they say it is outdated and does not fit today’s growing attitude of acceptance. Rep. Ryu Ho-jeong of the minor left-wing Justice Party joined tattooists and advocates for a press conference at the National Assembly in Seoul on Wednesday, wearing a backless purple dress. Her back was painted with temporary tattoos in a show of support for body art as an acceptable form of self-expression. Ryu and 11 other lawmakers proposed a bill earlier this month to modify the definition of tattooing under Korean law and to have tattooing practiced only by licensed professionals under the management of the Ministry of Health and Welfare.

The bill also proposes to have tattooists undergo safety, hygiene and related courses as a condition of certification.


'Practical work' summit for Biden, Putin: No punches or hugs

US President Joe Biden and Russia's Vladimir Putin exchanged cordial words and plotted modest steps on arms control and diplomacy but emerged from their much-anticipated Swiss summit Wednesday largely where they started -- with deep differences on human rights, cyberattacks, election interference and more. The two leaders reached an important, but hardly relationship-changing agreement to return their chief diplomats to Moscow and Washington after they were called home as the relationship deteriorated in recent months. And Biden and Putin agreed to start working on a plan to solidify their countries' last remaining treaty limiting nuclear weapons. But their three hours of talks on the shores of Lake Geneva left both men standing firmly in the same positions they had started in. "I'm not confident he'll change his behavior," Biden said at a post-summit news conference, when he was asked about what evidence he saw that former KGB agent Putin would adjust his ways and actions. "What will change his behavior is the rest of the world reacts to them, and they diminish their standing in the world. I'm not confident in anything."



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

North Korea's Kim says it must prepare for 'both dialogue and confrontation' with US

North Korean leader Kim Jong-un has said his country needs to prepare for "both dialogue and confrontation" with the United States under President Joe Biden, state media reported Friday. At a plenary meeting of the central committee of the ruling Workers' Party of Korea on Thursday, Kim outlined his strategy for relations with Washington, and the "policy tendency of the newly emerged US administration", the Korean Central News Agency said. Kim "stressed the need to get prepared for both dialogue and confrontation, especially to get fully prepared for confrontation in order to protect the dignity of our state" and reliably guarantee a "peaceful environment", KCNA reported.


The North Korean leader "called for sharply and promptly reacting to and coping with the fast-changing situation and concentrating efforts on taking stable control of the situation on the Korean peninsula", the agency said. Pyongyang had already accused Biden of pursuing a "hostile policy" and saying it was a "big blunder" for the veteran Democrat to say he would deal with the threat posed by the North's nuclear program "through diplomacy as well as stern deterrence".


US to spend $3.2B for antiviral pills for COVID-19: Fauci

The United States is devoting $3.2 billion to advance development of antiviral pills for COVID-19 and other dangerous viruses that could turn into pandemics. Dr. Anthony Fauci, the nation's top infectious disease expert, announced the investment Thursday at a White House briefing as part of a new ''antiviral program for pandemics'' to develop drugs to address symptoms caused by potentially dangerous viruses like the coronavirus. The pills for COVID-19, which would be used to minimize symptoms after infection, are in development and could begin arriving by year's end, pending the completion of clinical trials. The funding will speed those clinical trials and provide additional support to private sector research, development and manufacturing. Fauci said the new program would invest in ''accelerating things that are already in progress'' for COVID-19 but also would work to innovate new therapies for other viruses. ''There are few treatments that exist for many of the viruses that have pandemic potential,'' he said.


Moon back in Seoul after three-nation Europe visit

President Moon Jae-in returned to South Korea on Friday following a weeklong visit to Britain, Austria and Spain. He joined a Group of Seven (G-7) summit in the British county of Cornwall, which marked the first major multilateral summit to take place in the midst of the COVID-19 pandemic. Attending plenary sessions on heath, open societies and climate as a guest, Moon demonstrated Seoul's commitment to playing a bigger role in addressing pending global issues.


He then made state visits to Austria and Spain, during which South Korea agreed to lift the level of bilateral relations with the countries to a "strategic partnership." Moon's summit diplomacy this time has served as an opportunity to confirm South Korea's enhanced international stature and improve relations with European countries, according to Cheong Wa Dae.



Chosun Ilbo (http://english.chosun.com)
Kim Jong-un's Weight Loss Prompts Health Speculation

North Korean leader Kim Jong-un appears to have lost weight in the first public photos published by state media last week after about a month's absence. The Seoul-based NK News website on Tuesday said Kim is visibly thinner in the photos compared to late April, when he presided over a Workers Party meeting. He seems to have been tightened the strap on his Swiss IWC watch on his left wrist since March, and NK News said his drastic weight loss could signify health problems. "On the surface, noticeable weight loss may not mean much, but it can provide clues to other information that intelligence collectors look for," it quoted Mike Brodka, a U.S. intelligence officer in South Korea, as saying.


New Members Flock to PPP After Young Leader's Election

The main opposition People Power Party has seen a surge in new members since 36-year-old Lee Jun-seok was elected as its new leader .The PPP said Tuesday 800 new members applied on last Saturday and Sunday alone. Until the party's convention last week there had been fewer than 10 new applicants a day to join the conservative party, which typically attracted elderly people. That means there has been a 10-fold rise in the new applicants. "Various online certification processes are required for party membership, and it looks like most of the new applicants are young people," a party official said. Meanwhile, Lee got his single-dose Johnson & Johnson vaccine in a hospital in northeastern Seoul on Wednesday. Born in 1985, Lee is a reservist, which makes him eligible to for the vaccines the U.S. has sent for Korean soldiers. But the honeymoon may not last long. Online stories have already that Lee is only pretending to be an average Joe by riding a bicycle to work but has been pedaling it in Ferragamo loafers. The media-savvy PPP leader promptly uploaded a photo of the shoes proving they are Korean-made and priced at W100,000-200,000


Households Start Paying for Moon's Irrational Nuclear Phaseout

Starting in July, 9.1 million households which use less than 200 kWh of electricity per month will pay W2,000 more in monthly utility fees because a discount for households using less than 200 kWh of electricity per month is being slashed in half to pay for President Moon Jae-in's nuclear phaseout (US$1=W1,118). The government expects to collect W220 billion in extra revenues before the discount is scrapped entirely in July 2022, raising the burden on households even more. The discount on electric-vehicle charging fees will also fall from 50 to 25 percent, resulting in a W50 to W100 increase per kWh.The government says the measures are intended to reduce "unreasonable" benefits, but the real motive is to pass on the extra costs resulting from the government's nuclear phaseout. It already decided to make up for a W1.4 trillion deficit at Korea Hydro and Nuclear Power by tapping into a state fund created from electricity fees. Electricity bills will increase even more if LPG and other fuel costs needed to generate power are reflected in the bills as planned.



HanKyoReh Shinmun (http://english.hani.co.kr)
Does Japan want to be a country swayed by emotions?

I often perceive an “ue kara mesen,” or condescending attitude, in the Japanese media’s coverage on Korea. “Ue kara mesen” is the pose adopted by someone of superior talent or moral status when talking down to their inferiors. Japanese newspapers print articles describing Korea as “a country that’s always swayed by emotions,” “a country that doesn’t keep its promises,” and “a country that relies on anti-Japanese sentiment to prop up approval ratings.” Then after a while, editorials will appear counseling the two countries to make a diplomatic effort to repair their relations. It’s not too hard to find examples of this. The Asahi Shimbun, Japan’s leading liberal newspaper, ran an editorial on Thursday calling on Korea and Japan to “sit down together, even for a brief time, to find the energy for a breakthrough” during the G7 summit, which was held in Cornwall, England. On Wednesday, the Mainichi Shimbun, Japan’s best-known conservative paper, advised South Korean President Moon Jae-in that “it’s important to deal responsibly with matters concerning our bilateral relationship.” There have evidently been considerable changes in the Moon administration’s attitude toward Japan since the sharp dispute that occurred in 2018 and 2019. In particular, Moon has made strenuous diplomatic efforts to improve relations following Yoshihide Suga’s election as prime minister in September 2020.


S. Korea, US need to suspend their joint military drills, former unification ministers say

Former South Korean Minister of Unification Lim Dong-won said Tuesday that the North Korean nuclear issue “could be resolved with a decision by the US to normalize relations” with Pyongyang.

Lim’s remarks came during a special roundtable that day to commemorate the 21st anniversary of the June 15 South-North Joint Declaration of 2000, an event organized by the Democratic Peace Plaza’s Korean Peninsula Peace Headquarters at the Kim Koo Museum and Library in Seoul’s Yongsan District.Our experience over the past 30 years of history has been that no matter how hard South and North have worked, they haven’t been able to move forward when the US has put on the brakes,” he said.Noting that Seoul and Pyongyang “have been able to persuade Washington when they’ve joined forces and worked together,” he said that the “key thing is ultimately Washington’s determination.” Lim also noted that the US had “formed diplomatic relations with China under President Jimmy Carter [in 1979], with Vietnam under President Bill Clinton [in 1995], and with Cuba under President Barack Obama [in 2015].”


NATO defines China as global security challenge in summit communique

The North Atlantic Treaty Organization (NATO), a military alliance comprising 30 countries in Europe and North America, issued a summit communique Monday characterizing China as presenting "systemic challenges" that allies will need to respond to. In a communique issued after a North Atlantic Council meeting in Brussels that day, the NATO leaders said, "China's stated ambitions and assertive behaviour present systemic challenges to the rules-based international order and to areas relevant to Alliance security." "We are concerned by those coercive policies which stand in contrast to the fundamental values enshrined in the Washington Treaty [which forms the basis for NATO]," they continued. In particular, they noted that China was rapidly expanding its nuclear arsenal and delivery systems, while "cooperating militarily with Russia, including through participation in Russian exercises in the Euro-Atlantic area." "We remain concerned with China's frequent lack of transparency and use of disinformation," the NATO leaders said.



The Dong-A Ilbo (http://english.donga.com/)

Pres. Moon says map of Joseon Dynasty shows Dokdo as part of Korean territory

South Korean President Moon Jae-in visited the Spanish Senate Library on Wednesday (local time) and said a map of Joseon Dynasty owned by the library is “a very valuable historical document that shows Dokdo is Korean territory.” He stressed repetitively that Dokdo islets are part of Korean territory amid sharp tensions between South Korean and Japan from Japan’s claim over the islets.

Presidential spokesperson Park Kyung-mi said that President Moon thanked the members of the Spanish Senate Library for showing him the map of Joseon Dynasty after a joint speech was made by the Spanish Senate and Congress of Deputies. Japan recently showed Dokdo as part of its territory on the map for Tokyo Olympics and the promotion video of the Self-Defense Forces. In particular, the Japanese side even canceled a short meeting scheduled between South Korea and Japan at the G7 summit, citing the South Korean military’s Dokdo defense drill that began on Tuesday as a reason and claiming its ownership over Dokdo.


Over 23,000 people joined People Power Party in one month

The number of members of the People Power Party who pay party membership fees increased by 17,000 in one month. About 37 percent of the newly joined members are in their 20s and 30s, which proves the popularity of newly elected party leader Lee Jun-seok seen at the recent party convention. According to the secretariat of the People Power Party on Wednesday, over 23,000 people had newly joined the party from May 12 to June 12. About 13,300 of them, or 58 percent, joined online and the number of paid members who are to pay the minimum monthly membership fees of 1,000 won for three months increased by 17,400. “The growth of new members is about 10 times higher than the same period last year,” said a member of the party. By age group, those in their 50s account for the most members at 4,761 people, followed by 4,504 new members in theirs 20s.


NATO calls for ‘complete, verifiable, irreversible’ denuclearization of N. Korea

Members of the North Atlantic Treaty Organization (NATO) urged the resumption of U.S.-North Korea negotiations for “complete, verifiable, and irreversible denuclearization” of North Korea in a joint statement issued on Monday during a summit in Brussels. The re-emergence of the concept CVID in a NATO joint statement joined for the first time by the U.S. President Joe Biden has drawn the international attention as North Korea had strongly objected that the term is a concept forced upon a “defeated nation.” It clearly stated their goal of dismantling North Korea’s nuclear weapons at a higher level than the goal of achieving “complete denuclearization of the Korean Peninsula” agreed between President Moon Jae-in and President Joe Biden during their summit last month. We reiterate the Alliance’s full support to the goal of the CVID,” the NATO said in its joint statement issued after a summit in Brussels, calling on North Korea to engage in meaningful denuclearization negotiations with the U.S. to achieve the goal.




TheKyungHyangShinmun (http://english.khan.co.kr/)
Yoon Seok-youl to Announce His Presidential Bid at the End of This Month”

Former prosecutor general, Yoon Seok-youl (pictured), a rising opposition candidate in the next presidential election, announced on June 15 that he would officially declare his bid for the presidency as early as the end of June. Yoon had not stated any clear position on this issue only communicating through his acquaintances for over three months since he stepped down as prosecutor general on March 4. This was the first time that he expressed his intention to run for president along with a timetable. However, Yoon has yet to reach a conclusion on whether to join the People Power Party and if so, when he will join the major opposition. This day Yoon’s spokesperson, Lee Dong-hoon told reporters, “Yoon is considering an announcement on his entering politics,” and said, “It will be in late June or early July.” Lee further said, “Yoon suggested that we use a shared office in Yeouido for his office,” and added, “He is reviewing everything including these details.”


President of the National Health Insurance Service Goes on a Hunger Strike in Response to Conflicts Between Labor Unions

Kim Yong-ik, president of the National Health Insurance Service (NHIS) launched a hunger strike calling for workers to resolve conflicts through dialogue after non-regular workers at the NHIS Customer Services Center started an indefinite strike demanding the Service to directly hire the workers. Indeed, it is very unusual for the head of a public agency to engage in a hunger strike against a labor union. Kim argued that he had no choice but to go on a hunger strike because the government policy to have public agencies directly hire all its workers triggered conflicts between labor unions, but he came under attack for making a bad move just to evade responsibility. As the director of the Institute for Democracy, Kim was President Moon Jae-in’s aid who established the president’s campaign pledges in the last presidential election. On June 14, Kim released a statement and said, “The Customer Services Union should end the strike and the National Health Insurance Service Union should take part in the council for discussions on outsourced customer service tasks.” He also announced, “I will go on a hunger strike and wait until the two unions reach such decisions.” He further explained, “I am well aware of the various criticism on the unprecedented hunger strike by the NHIS president against the unions,” and added, “Due to my limited ability, I could not find any other way. I apologize to the people.”


I’m Listening to Both the Expectations and Concerns of the People” Yoon Seok-youl Hints at a Presidential Bid

On June 9, Yoon Seok-youl (pictured), former prosecutor general and a strong opposition candidate for the presidential election said, “I am listening to and am well aware of the expectations and concerns of the people.” Yoon appeared to be hinting at the launch of a presidential bid two days before the People Power Party convention. However, he avoided mentioning any details about joining the People Power Party. This day, Yoon appeared at the opening ceremony of the Woodang Lee Hoe-yeong Memorial at Namsan Yejang Park in Seoul and responded to questions from the press by saying, “I ask you to wait and see.” This was the first time that Yoon spoke about his political activities at a public occasion. When asked about whether he would join the People Power Party, Yoon replied that it was not yet the time to say anything about the issue and said, “You will gradually know as you observe the road I take.” Yoon appeared at a public event for the first time in two months since he showed up for early voting in the April 7 by-elections on April 2. Yoon attended the opening ceremony and said, “The life of Woodang and his family vividly symbolizes the noblesse oblige during a harsh time when our country had fallen.” He also said, “What kind of person a country produces along with what kind of person that country remembers determines whether or not that person will be seen.



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

S. Korea, US to keep $60 billion currency swap deal until Dec.

South Korea and the United States are pushing back their $60 billion bilateral currency swap for another three months until December after two six-month extensions since the credit was arranged in March last year for common readiness against the pandemic contingency. The Bank of Korea (BOK) said Thursday it has agreed with the U.S. Federal Reserve Board to elongate the deadline of the currency swap deal set for Sep. 30 to Dec. 31. All other terms, including the $60 billion limit, remain the same. The central banks of Korea and the U.S. had extended the liquidity swap agreement twice since it first went into effect in March 2020 in a bid to jointly address market uncertainties caused by the pandemic. Immediately after the swap deal announcement on March 20, the Korean stock market rebounded 7.4 percent, and the Korean won 3.1 percent against the U.S. dollar.


Daewoo E&C breaks ground for $5 bn LNG plant in Nigeria

South Korea’s Daewoo Engineering & Construction has begun full-fledged construction of a $5 billion project to build an LNG liquefaction plant and additional facilities in Rivers State, Nigeria. The ground-breaking ceremony was attended by Nigeria’s President Muhammadu Buhari, Petroleum Resources Minister, and other high-level officials. The NLNG Train 7 located at Bonny Island, about 25 miles south of Port Harcourt in Rivers State, will produce 8 million tons of LNG per year. Daewoo E&C set up a joint venture with Italy’s Saipem and Japan’s Chiyoda in May last year for the $5 billion project. Daewoo E&C which controls about 40 percent of the JV will carry out all major tasks as a main engineering, procurement and construction (EPC) contractor. The JV has so far focused on design and procurement as initial construction was interrupted by the impact of the coronavirus pandemic.


GS Energy to build renewable energy JV with world’s No.2 renewable energy firm

South Korea’s major petrochemical and refining company GS Energy Corp. will set up a joint venture with world’s second-largest renewable power company Iberdrola to expedite its transition into clean energy. GS Energy, the energy unit of GS Group, announced Wednesday that it has signed a memorandum of understanding with Iberdrola, the world’s No.2 renewable electricity generator and Spain’s largest power company, to set up a renewable joint venture. This is the first time that GS Energy has joined hands with a global renewable energy company. Under the partnership, the Korean company is expected to speed up its transition into a clean energy company, while the Spanish company will be able to make inroads into Asia. The JV will be dedicated to solar power as well as onshore and offshore wind energy projects in Korea and other parts of Asia.



What’s ticking around the world at this second?

See what the world media around the world have to report:


USA Today www.usatoday.com aallman@gannett.com

The New York Times www.nytimes.com inytletters@nytimes.com

Wall Street Journal www.wsj.com support@wsj.com, service@wsj-asia.com

Financial Times www.ft.com ean@ft.com

The Times www.thetimes.co.uk help@timesplus.co.uk

The Sun www.thesun.co.uk talkback@the-sun.co.uk

Chinese People's Daily www.people.com.cn kf@people.cn

China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn

GwangmyeongDaily www.gmw.cn webmaster@gmw.cn

Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com

Asahi www.asahi.com customer-support@asahi.com

Mainichi www.mainichi.jp

Le Monde www.ilemonde.com

Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com

Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de

SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de

Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au

Sydney Morning Heraldwww.smh.com.au

Colombia Reports http://colombiareports.com

Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com

El Universal http://www.eluniversal.com.mx/english

Andes http://www.andes.info.ec/en

Ecuador Times http://www.ecuadortimes.net

The Jordan Times https://www.jordantimes.com

LSM.lv http://www.lsm.lv/en

The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com

El Pais http://elpais.com/elpais/inenglish.html

Philippine Daily Inquirer https://www.inquirer.net

Daily News Hungary http://dailynewshungary.com

Budapest Times http://budapesttimes.hu




The Korea Post is running video clips from the different embassies.

Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM

Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s

Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE

And many other countries.

What are you waiting for?
Use us!
The Korea Post media are more than eager to be used, and to serve you—with the following five news outlets, 36 years old this year!

Korean-language Internet edition: http://www.koreapost.co.kr
English-language Internet edition: http://www.koreapost.com
Korean-language print newspaper:
English E-daily: http://www.koreapost.com/news/articleView.html?idxno=10690

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.