Headline, October 26, 2021
Headline, October 26, 2021
  • Lee Kyung-sik
  • 승인 2021.10.27 09:08
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Tuesday, October 26, 2021


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

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

Through friendship come trust and good business partnership

Newly appointed Ambassador Coronel Kinloch of the Republic of Nicaragua in Seoul said, “Through friendship comes trust and through trust comes a good business partner. Thus, every Korean investor and company can feel assured that Nicaragua is a land filled with investment opportunities.” Excerpts from the interview follow: Question: As a new Nicaraguan ambassador to Korea, please tell us your major business objectives for this year. Answer: First off, I want to express the deep and sincere gratitude of the people of The Republic of Nicaragua towards the friendship given by the people of The Republic of Korea. Gratefulness is my main business and affair in this beautiful country. I want every Korean to know they have a friend ready to lend a hand in every Nicaraguan.


LG Chem seeks unique ideas from college students

LG Chem announced on Oct. 22 that it held the 1st LG Chem - Korean Institute of Chemical Engineers Petrochemicals Olympiad awards ceremony on a metaverse platform on Oct. 21. At the Olympiad that was held since July, a total of 1,692 college students majoring in chemical engineering grouped in 647 teams participated to suggest solutions to problems facing the chemical industry in areas such as process safety enhanced productivity environment/energy. Expert judges from the LG Chem Global Production Center and the Korean Institute of Chemical Engineers selected one team for the overall grand prize and gold/silver/bronze for one team in each of the sectors based on actual applicability, uniqueness, etc.


SK Innovation shows off advanced battery tech at Daegu Intl Future Auto Expo 2021

SK Innovation is participating in Daegu International Future Auto Expo (DIFA) 2021, held at EXCO in Daegu for four days from Oct. 21 to 24. DIFA is the largest exhibition specializing in future vehicles, including electric vehicles, hydrogen vehicles, autonomous driving, etc., in Korea. DIFA 2021 is an expo participated by not only Korean but also global companies that own the core technologies of the future car industry to showcase the latest global trends. The expo has been held annually since 2017, hosted by Daegu Metropolitan City and Korea Academy for Automotive Engineering, and organized by Daegu Exhibition and Convention Center (EXCO) and Korea Trade-Investment Promotion Agency.


KBS (http://world.kbs.co.kr/service)

S. Korea Strike Free Trade Deal with Philippines

South Korea struck a free trade deal with the Philippines on Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart Ramon Lopez declared that the two sides reached agreement in negotiations for a bilateral free trade agreement and signed a joint statement to that effect. The deal comes 28 months after the two nations launched FTA negotiations in June 2019. South Korea has been expanding bilateral FTAs with members of the Association of Southeast Asian Nations(ASEAN), clinching deals with Singapore, Vietnam, Malaysia and Cambodia in recent years. The Philippines is the fifth ASEAN nation to strike a deal with Seoul.


US Urges China to Play Positive Role in Denuclearization of Korean Peninsula

The U.S. Department of Defense has urged China to play a bigger role in helping achieve the denuclearization of the Korean Peninsula. Pentagon spokesperson John Kirby said on Monday in a press briefing that the U.S. expresses deep regret over the recent missile launches by the North, when asked to comment on the matter. Kirby then said that China has influence in Pyongyang and that influence could be important to helping achieve the denuclearization of the peninsula. He added that the U.S. would like to see China be more cooperative and more helpful in the mutually shared interest of regional security.

Gyeonggi Gov. Resigns from Post 1 Year Early to Focus on Pres. Race

Gyeonggi Province Gov. Lee Jae-myung has resigned from his post ahead of registering as the ruling Democratic Party's(DP) official candidate for next year’s presidential election. At a press conference on Monday, Lee expressed sadness in not completing his four year term as he pledged his best to become the nation's leader, who is responsible for the lives of 50 million people from the 13.8 million people under his governorship. Outlining accomplishments made to ensure fair opportunity for all Gyeonggi residents during his three years in office, Lee said the provincial policies have become standards for the nation. He added that his administration achieved 98 percent of its campaign pledges as of June.


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

Moon to meet ruling party's presidential nominee Tuesday

President Moon Jae-in will hold a meeting with Lee Jae-myung, the presidential nominee of the ruling Democratic Party (DP) on Tuesday, his office said. The meeting will take place at the presidential office Cheong Wa Dae at 11:00 a.m., presidential spokesperson Park Kyung-mee told reporters. It comes a day after Lee announced his resignation as Gyeonggi Province governor to focus on the presidential election scheduled for March 9. Lee, a vocal supporter of a universal basic income and reconciliation with North Korea, was nominated as the ruling party's presidential candidate on Oct. 10. Moon's single five-year term is to end in May next year and by law, he cannot seek reelection.


S. Korea to provide Iran with 1 mln doses of AstraZeneca vaccine

South Korea will soon offer 1 million doses of AstraZeneca vaccine to Iran, on humanitarian grounds, to help address its vaccine shortage, Seoul's foreign ministry said Monday. The vaccines will be delivered to Iran on Wednesday to help the Middle Eastern nation's COVID-19 vaccination campaign, the ministry said. Diplomatic relations between South Korea and Iran remain frayed over Iranian assets frozen here under U.S. sanctions and ongoing multilateral efforts to restore the 2015 Iranian nuclear agreement. Last month, Foreign Minister Chung Eui-yong had phone talks with his Iranian counterpart and vowed efforts to resolve the issue of Tehran's frozen funds and to cooperate with Iran to help the country overcome the humanitarian crisis stemming from the COVID-19 pandemic.


S. Korea, Philippines strike free trade deal

South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea's trade portfolio, Seoul's trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade Agreement (FTA) and sign their joint statement during a virtual meeting set to be held in the day, according to the Ministry of Trade, Industry and Energy. The two sides began negotiations in June 2019, and had held five rounds of official talks before reaching the agreement.




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

Gyeonggi gov. begins presidential race in earnest as pressure grows

Democratic Party of Korea presidential candidate Lee Jae-myung on Monday announced his resignation as governor of Gyeonggi Province, starting his presidential bid in earnest as opposition parties ratcheted up their demands for an independent counsel investigation into the ongoing land development corruption scandal. Lee said he was stepping down effective Tuesday morning, with eight months left in his term. “I feel burdened with a heavy sense of responsibility, but I promise to fulfill my calling,” Lee said during a televised news conference at the provincial government’s office in Suwon, south of Seoul.

Moon pledges last-ditch effort to bring normalcy back

President Moon Jae-in on Monday pledged a last-ditch effort to bring normalcy back and cement the economic recovery in his final address at the National Assembly before he leaves office in May. “With six months left for my presidency, I’m deeply impressed by this final speech,” the president said as he opened his seventh parliamentary speech earlier in the day. “I’ll make an all-out effort until the very end for a complete return to normalcy and an economic recovery.” Moon delivered the speech to urge a bipartisan support for next year’s budget plan. The government proposed a record high budget of 604.4 trillion won ($519 billion) as it plans to maintain an expansionary fiscal spending to bolster the economic recovery and narrow social gaps caused by COVID-19.


End-of-war declaration would show absence of hostile policy: Seoul envoy

A declaration to formally end the Korean War is the most symbolic move that Seoul could take to show Pyongyang that neither Washington nor Seoul have a “hostile policy” toward the regime and revive the stalled denuclearization talks, South Korea‘s chief nuclear envoy said Monday. Noh Kyu-duk, the special representative for Korean Peninsula peace and security affairs, made the remark at a forum organized by the Institute for National Security Strategy, a think tank affiliated with South Korea’s spy agency.



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

Korea, Philippines strike free trade deal

South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea's trade portfolio, Seoul's trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade Agreement (FTA) and sign their joint statement during a virtual meeting set to be held in the day, according to the Ministry of Trade, Industry and Energy. The two sides began negotiations in June 2019, and had held five rounds of official talks before reaching the agreement.

Possible papal visit to North Korea revisited

On the occasion of President Moon Jae-in's scheduled meeting with Pope Francis later this week, a possible papal visit to North Korea is once again emerging. Experts believe that the papal visit still stands a chance, given that Pope Francis has made many appeals for inter-Korean rapprochement. If realized, it could play a role in establishing peace on the Korean Peninsula. According to Cheong Wa Dae, Moon is scheduled to meet with Pope Francis at the Vatican, Friday, before attending the G20 Summit, and he is likely to discuss the possibility of a papal visit to Pyongyang.


North Korean leader's weight loss leads to diverse speculation

North Korean leader Kim Jong-un, who seems to have succeeded in a rigorous diet plan, is facing diverse speculation due to his change in appearance. Following speculation of him being sick, now there are rumors that he was murdered, which South Korea's spy agency rebut. Media outlets here have cited a recent report by Globe, a U.S.-based tabloid magazine, about a coup in North Korea. Globe reported on the front page of its Oct. 23 (local time) edition that Kim's "ruthless kid sister" Yo-jong staged a secret coup between May and June and "murdered him before he could execute her." Citing U.S. intelligence sources, it reported that Kim Jong-un, who hadn't been seen in public since June, was only seen at a Sept. 9 event marking the 73rd anniversary of the country's founding. The person appearing for the event was a "skinny impostor," it claimed, citing the difference in his appearance.


Chosun Ilbo (http://english.chosun.com)
Over 70% of Koreans Vaccinated

More than 70 percent of Korea's 52 million population is now fully vaccinated against coronavirus. Health authorities said a total of 35.95 million people or 70 percent of the population had been fully vaccinated as of 2 p.m. last Saturday. Another 9.4 percent had received their first vaccine shot. The government said early this year that would be the threshold to achieve herd immunity. It will now gradually ease lockdown from November. Prime Minister Kim Boo-kyum said Sunday that the 70-percent vaccination rate "was possible thanks to the Korean people's active participation in the government's inoculation drive." "We will start on our journey back to a normal in November, but we intend to embark neither too quickly nor too slowly," he added.

Moon Gets Ready for Europe Trip
President Moon Jae-in will go on a trip of three European cities from Oct. 28 to Nov. 5, Cheong Wa Dae spokeswoman Park Kyung-mee said last Friday. He will visit the Vatican, attend the G20 summit in Rome and the COP26 climate change conference in Glasgow, and pay a state visit to Hungary. In the Vatican he meets Pope Francis and Cardinal Secretary of State Pietro Parolin on Oct. 29. He will discuss North Korea with the pontiff who has expressed curiosity about the isolated country and said he would like to visit Pyongyang. Moon "is expected to have a wide-ranging discussion on the inter-Korean peace process with the pope," another Cheong Wa Dae official said. Moon then attends the G20 summit on Oct. 30-31, where leaders meet face-to-face for the first time since the outbreak of COVID-19.


Presidential Hopefuls Fail to Inspire Voters

All potential candidates for next year's presidential election suffer from low popularity of under 30 percent, compared to around 50 percent for the frontrunners in previous elections. Lee Jae-myung, the official presidential candidate of the ruling Minjoo Party, has an approval rating of 32 percent but a disapproval rating of 60 percent after a snowballing land development scandal engulfed him. But Hong Joon-pyo of the main opposition People Power Party also only has an approval rating of 31 percent and a disapproval rating of 59 percent.



HanKyoReh Shinmun (http://english.hani.co.kr)
Resetting the relationship: The transformative potential of an end-of-war declaration

During the Cold War, the UK possessed over 550 nuclear warheads, but the US didn’t regard it as a threat. It conducted 45 nuclear tests starting in 1952, but these were not characterized as “provocations.” If anything, the US supported the UK in its nuclear weapon development. It was even generous enough to provide its own nuclear weapons to the British military at a time when the latter’s nuclear weapon production had slowed. Each of North Korea’s six nuclear tests has resulted in it being criticized for its “provocations” and hit with UN sanctions. It is estimated to have dozens of nuclear warheads, which are regarded as a serious security threat.


US looks forward to cooperation on N. Korea including end-of-war declaration, special envoy says

Sung Kim, the US special representative for North Korea, said Sunday that he looked forward to working to “explore different ideas and initiatives” with South Korea, including its proposal for a declaration officially ending the Korean War. His remarks came during a press conference following a closed-door breakfast meeting with South Korean Special Representative for Korean Peninsula Peace and Security Affairs Noh Kyu-duk at a hotel in Seoul’s Jung District that morning. “We remain ready to meet with the DPRK without preconditions, and we have made clear that the United States harbors no hostile intent towards the DPRK,” Kim said.

To whom do S. Korea’s political parties belong?

The political scholar Park Sang-hoon wrote the following in his book “Discovery of the Political Party.”

“The political party is the greatest component of modern democracy. Political theorists have played down the importance of political parties. They have conceded parties as a ‘necessary evil that must be endured in a free society.’ It has taken a long time for a political party to become established as an important institution indispensable for democracy rather than a necessary evil.” In South Korea, it has taken a long time for a proper political party to emerge. Politicians have always come before political parties. In 1951, President Syngman Rhee founded the Liberal Party in order to keep a long-term hold on power. After rising to power in a coup d’etat in 1961, Park Chung-hee founded the Democratic Republican Party of Korea in 1963.



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

Moon delivers his final parliamentary speech

South Korean President Moon Jae-in said on Monday that the government has led a fast and strong economic recovery through unprecedented expansionary fiscal policy and, as a result, has become one of the fastest advanced economies to recover to pre-pandemic levels. Meanwhile, the main opposition People Power Party (PPP) disparaged the speech, saying it was “full of self-praise and piggybacking on others’ credit.” In a speech on next year’s budget delivered at the National Assembly on Monday, President Moon said next year’s budget will be used for a complete return to normal life and public finance will play a crucial again next year.


Electronic face masks to be available for purchase from end of year

Electronic face masks (picture) made by Korean companies will be available for purchase in the country from the end of the year. Electronic masks, a type of electronic product, are currently being sold abroad, including the U.S. The Korean Agency for Technology and Standards of the Ministry of Trade, Industry and Energy said on Monday that it will announce its preliminary safety standards for electronic masks on Oct. 26. Considering the time it requires for companies to prepare products, electronics masks are expected to be available for purchase across the country from Dec. 22.


UN Human Rights Special Rapporteur: Less sanction for N. Korean residents

UN Special Rapporteur for North Korean Human Rights Thomas Ohea Quintana reiterated the need to reassess and lessen sanctions against North Korea mentioning economic difficulties of North Korean residents due to the COVID-19 pandemic. However, the U.S. State Department dismissed his argument by clarifying that it is the North Korean regime’s responsibility for causing its residents to suffer hardships and adversities, drawing the line at connecting impoverishment of North Korean residents to any discussion on the lessening of North Korea sanctions.



The KyungHyangShinmun (http://english.khan.co.kr/)
Seongnam-si Signed a Special Agreement Banning Private Companies in the Daejang-dong Project from Filing Lawsuits to Recover over 300Billion Won in Infrastructure Costs

The Seongnam City Government signed a special agreement with private companies involved in the Daejang-dong development project and even received a letter of comfort from the companies indicating that they would not seek litigation, to prepare for any possible civil or criminal lawsuit by companies seeking to evade infrastructure costs of 379.7 billion won, which they promised to pay in exchange for the city’s authorization and permission. According to the coverage by the Kyunghyang Shinmun on October 24, Seongnamui-ddeul (Seongnam Park Co.), the special purpose corporation (SPC) that led the Daejang-dong development project, sent a comfort letter indicating that the firm would not seek litigation to the Seongnam City Government in December 2019.


South Korean Soldiers Are Paper Cats” North Korean Media Mentions Sexual Assault Incidents and Claims South Koreans Deplore the Military

North Korea mentioned the sexual assault incidents in the South Korean military, which were recently criticized in a parliamentary inspection, and said, “South Korean citizens are raising their voices in condemning the military claiming they are not even paper tigers, but paper cats.” On October 21, Meari, a North Korean state propaganda site claimed, “The weakness of the military revealed in the South Korean parliamentary inspection is currently the target of criticism from the South Korean citizens.” The media outlet presented statistics presented by the South Korean lawmakers: 48 fatal accidents in the South Korean military from January to June this year; 5 suicides by female soldiers who were sexually assaulted (January-September 2021); and 518 cases of desertion in the last four years. The media outlet used these figures as the grounds for its criticism.


The Aftermath of the Democratic Primaries Rings an Alarm: 40% of Lee Nak-yon’s Supporters Went to Yoon Seok-youl

On October 14, the results of a survey showed that some of the supporters of Lee Nak-yon, former leader of the Democratic Party of Korea who lost in the party primaries, expressed their support for former Prosecutor General Yoon Seok-youl, a presidential candidate of the People Power Party and not Gyeonggi Governor Lee Jae-myung, who was elected as the Democratic Party candidate. Wounds from the party primaries have yet to heal, and they appear to be behind the latest result. Some experts believe this is a warning sign on the “one team” that the Democratic Party is trying to form ahead of the presidential race.



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

S. Korea’s GDP loses steam, up 0.3% in Q3, flags doubts in annual 4.0% target

South Korea’s economy grew at a snail’s pace of 0.3 percent in the July-September period from the previous quarter despite sizzling exports as the worst Covid-19 outbreak put a damper on the recovery in domestic demand, raising doubts about meeting annual growth target of 4.0 percent. According to the Bank of Korea’s preliminary data for the July-September period on Tuesday, the country’s gross domestic product (GDP) added 0.3 percent against the second quarter which ran at a pace of 0.8 percent. From a year ago, the economy added 4.0 percent, slowing from a 6.0 percent growth in the second quarter.


Korea to achieve trade volume of $1 trillion this week, with exports at record high

South Korea’s trade volume is expected to reach $1 trillion this week before the year ends on record exports. According to the data from the Ministry of Trade, Industry and Energy and Korea Customs Service, the country’s trade volume totaled $980.8 billion from January to Oct. 20, with exports standing at $501.8 billion and imports $479 billion. Given the average $3.5 billion daily trade volume from Oct.1 to Oct.20, the country would be able to exceed the $1 trillion mark on Tuesday. It would be the fastest achievement of the annual trade goal since records began being kept in 1956. The previous fastest record was set on Nov.16 in 2018.


Posco Q3 top and bottom line at fresh record high

South Korea’s steel giant Posco has had a handful of favorable factors – sizzling demand, spike in product prices, and foreign exchange rate – to fuel quarterly best of near $3 billion in income and $18 billion in revenue in July-September period. In its regulatory filing on Monday, the steelmaker reported that it raked in 3.12 trillion won ($2.66 billion) in operating income on a consolidated basis for the third quarter, matching its guidance released earlier this month. The operating profit rose 41.82 percent from three months ago and 365.67 percent from a year ago.



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

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