Tuesday, November 23, 2021
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
“Bangladesh, Korea have great potential for deeper mutually beneficial collaboration”
The following article is based on an interview with newly accredited Ambassador M. Delwar Hossain of the People’s Republic of Bangladesh to the Republic of Korea for publication by The Korea Post media, publisher of 3 English and 2 Korean news publications since 1985.—Ed. The year of 2021 is a special moment for Bangladesh. This year, the nation is celebrating the 50th anniversary of the independence and also in the midst of celebration of the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. The year also marks the official endorsement of the graduation of Bangladesh from the status of a Least Development Country to a developing one, as the country fulfilled all three eligibility criteria of the United Nations by substantial margins for the second time.
Oman Celebrates 51st National Day of the Renaissance
The event comes around at a time when Omanis ponder about the achievements made so far and brace for further accomplishments, with firm resolve, under the astute leadership of His Majesty Sultan Haitham Bin Tarik who pledged to hold high the banner of Renewed Renaissance, since he assumed power in the country on 11 January 2020. The Renewed Renaissance kicked off on a high note when His Majesty Sultan Haitham Bin Tarik called upon the people of Oman to do their best to enrich domestic development and foster progress in all fields. This is considered one of the major principles of Renewed Renaissance in its quest to attain the supreme national objective of “making Oman the central point in all that we strive to achieve”—an objective whose salient features already materialized in terms of updated laws and refurbished programmes of action across all sectors.
“Leading Korean companies actively take part in bilateral win-win cooperation”
Ambassador Vitaliy Fen of the Republic of Uzbekistan in Seoul said, “Today, hundreds of priority investment projects in various sectors of the economy have been implemented by leading Korean companies, and currently, about 900 enterprises with the participation of Korean investors operate in Uzbekistan.” Speaking at a gala reception hosted by Ambassador and Madam Fen at the spacious Crystral Ballroom of the Lotte Hotel in Seoul on Nov. 15, 2021 in celebrationof the 30th anniversary of Indepdence of Uzbekstan and the 29th anniversary of establishment of diplomatic relations between teh two countreis, Ambassador Fen then added: “In total, the volume of investments attracted from Korea exceeded US$7 billion.” (Further details of the speech are toward the end of this speech.)
KBS (http://world.kbs.co.kr/service)
Moon to Hold Summit Talks with Costa Rica President
President Moon Jae-in will hold a summit with Costa Rican President Carlos Albarado Quesada on Tuesday to discuss ways to boost cooperation and develop ties between the two nations. In the summit at the presidential office, the two leaders will discuss substantive cooperation after the COVID-19 pandemic, cooperation in Central America, climate change and other global issues. The top office said that through the discussions, the nation will seek a partnership with Costa Rica in various fields such as digital transition, smart farming and the bio industry for economic recovery in the aftermath of the pandemic. President Carlos Alvarado arrived in South Korea on Sunday for a four-day state visit at the invitation of President Moon.
DP Candidate Promises Reforms, PPP Candidate Seeking Fresh Faces
Ruling Democratic Party(DP) presidential candidate Lee Jae-myung promised change and innovation within the party election committee, while main opposition People Power Party's(PPP) Yoon Seok-youl fine-tuned details of his party's election committee.At Monday's election committee meeting, Lee, who agreed to spearhead party reforms the previous day, said a new beginning starts from self-examination, pledging to not only listen to the public but also to put forth practical response measures. Stating that he himself is also to blame for public disappointment in the party, Lee apologized for the government's failure to curb soaring housing prices, which aggravated difficulties already experienced by young people and those without homes.
Last Week’s COVID-19 Risk Level Assessed as 'High'
The government has assessed last week's COVID-19 risk level for the nation as "high." According to health authorities on Monday, the latest risk level moved up two notches from "low" a week earlier. The Seoul metropolitan area was assessed to be at the highest degree of "very high," with other regions at "moderate," although both climbed two levels. Authorities began evaluating COVID-19 risks on a five-point scale based on the occupancy rate of beds for critical patients, the weekly tally for patients suffering from serious symptoms, and the percentage of patients aged 60 or older, among other indicators.
Yonhap (http://english.yonhapnews.co.kr)
S. Korea, U.S., Japan can achieve bigger success when working together: Ned Price
The press secretary for the U.S. Department of State reiterated the importance of trilateral cooperation between the U.S., South Korea and Japan on Monday, saying the countries will be more successful when working together. The remarks from Ned Price came after Japanese Vice Foreign Minister Takeo Mori boycotted a joint press event with his South Korean and U.S. counterparts -- Choi Jong-kun and Wendy Sherman -- following their three-way talks in Washington last week. "When it comes to the relationship between our allies, Japan and the Republic of Korea, you are right that Deputy Secretary Sherman had an opportunity to meet trilateral with her counterparts here in Washington last week," the department press secretary said in a daily press briefing, referring to South Korea by its official name.
More people subject to comprehensive real estate tax on rising home prices
The number of people who are subject to the so-called comprehensive real estate tax rose 42 percent this year from the previous year amid skyrocketing home prices and hikes in the tax rates, the finance ministry said Monday. A total of 947,000 people are subject to the comprehensive real estate taxes this year, compared with the 667,000 people tallied for last year, according to the ministry. The 2021 numbers accounted for 1.8 percent of the country's 52 million population. Such people are forecast to pay a combined 5.7 trillion won (US$4.8 billion) in taxes this year, more than tripling from 1.8 trillion won for last year.
How Kim Jong-un, once a young political novice, cemented power in N. Korea in 10 years
Many North Korea watchers were doubtful when Kim Jong-un, then 27, took over the Hermit Kingdom in December 2011 following the sudden death of his father, Kim Jong-il. A decade later, apparently, few question Kim's grip on power, despite a host of challenges, such as its moribund economy, amid a wide web of sanctions led by the U.N. and the U.S. against his regime. Through the past 10 years, Kim has effectively established his own leadership style using an extensive range of strategies, from building an image of a figure who cares about the lives of the people to the brutal killings of his own uncle and brother, outside watchers say.
The Korea Herald (http://www.koreaherald.com)
Cyberwarfare era calls for security rethink: Estonian ex-president
The evolution of technologies is changing the character of warfare. In any future war, the battle will be determined long before any bullets are fired or missiles flown. Wars may be won through cyberattacks that crash countries’ networks, causing power outages and severing military communication, says former Estonian President Toomas Hendrik Ilves. The changing face of war requires countries around the world to “rethink” the entire approach to security and defense, Ilves said during a recent interview with The Korea Herald last week. The former president, who spearheaded the Baltic nation’s digital transformation, was in Seoul to speak at the World Emerging Security Forum, organized by the Foreign Ministry, to discuss global cooperation against new security threats.
Lee and Yoon emphasize fairness, growth in neck-to-neck race for presidency
Presidential nominees of the ruling and opposition blocs on Monday avowed fairness and growth, with the two widely differing in how they would go about approaching the goals. Lee Jae-myung, presidential nominee for the ruling Democratic Party of Korea, said Monday at a forum held by TV Chosun that he envisions a South Korea where there is fair competition and ample opportunities for those in need. "The divide and conflict in our society are extreme, especially those for the younger generations," Lee said.
Hyundai Motor vows 46,000 jobs for youth in next 3 years
Hyundai Motor Group, the country’s second-largest group by assets, on Monday pledged to hire 46,000 youths over the next three years. “It is our group’s duty to expand our business to create more jobs so the young people can make use of their talent,” said Hyundai Motor Group Chairman Chung Euisun during a meeting with Prime Minister Kim Boo-kyum. “We will put a lot more effort to allow youths to execute their capabilities through collaborative projects involving schools, since we have a lot of new businesses that we are starting,” Chung added.
The Korea Times (http://www.koreatimes.co.kr)
President's talk with citizens turns into 100-minute 'fan meeting'
President Moon Jae-in's televised meeting with citizens to answer their questions drew mixed responses, as most of the participants' comments were praising Moon's achievements rather than asking about sensitive matters such as real estate issues. During the 100-minute show on Sunday, Moon answered questions from 204 people who participated in person and 100 people joining online. Cheong Wa Dae said host broadcaster KBS and a poll agency selected the participants based on their gender, age and region. Since the meeting was the first of its kind in two years, expectations were high for Moon's or the government's ideas on how to handle pending state affairs. But the show drew responses that it was a lackluster event as both the questions and answers failed to touch on the most urgent and sensitive matters.
Experts to discuss Korea-Japan relations at KOR-ASIA Forum 2021
The Korea Times and its sister paper the Hankook Ilbo will host the KOR-ASIA Forum 2021 at the Westin Josun Seoul hotel in central Seoul, Nov. 25. Under the theme of "New Korea-Japan Relations: For a Future with Cooperation and Respect," the event will review the current diplomatic dynamics between Korea and Japan and explore a new way forward in relations between the neighboring countries. Among the speakers at the forum, Gachon University chair professor Ra Jong-yil, who served as former Korean ambassador to Japan and presidential secretary for national security, and Shigeru Ishiba, former Japanese defense minister and Liberal Democratic Party (LDP) secretary-general, will deliver special lectures on the future of Korea-Japan relations.
CJ ENM to have W1.5 tril. ready for Endeavor, SM acquisitions
Local entertainment and media company CJ ENM is preparing to secure about 1.5 trillion won to acquire Hollywood film studio Endeavor Content and possibly the talent agency SM Entertainment in early 2022. It will cost $775 million (920 billion won) alone to acquire over an 80 percent stake in Endeavor Content, which could strain CJ ENM's finances. According to the contract the entertainment firm signed with Endeavor Group Holdings, the parent company of Endeavor Content, the follow-up procedures including the payment will be settled in the first quarter of next year.
Chosun Ilbo (http://english.chosun.com)
Return to Normal Faces Major Setback
A surge in coronavirus infections in the Seoul metropolitan area has filled up more than 80 percent of beds in ICUs while over 800 patients are waiting for hospital beds to become available. Serious cases are occurring mostly among the elderly and those with chronic diseases. Out of 687 beds in the capital region's ICUs, 560 or 81.5 percent were filled on Sunday, threatening overload of the medical system and jeopardizing the country's phased return to normal. The government was taken aback by the size of the surge. A total of 517 people are being treated for serious COVID-19 symptoms in the Seoul metropolitan area, surpassing 500 for the first time on Nov. 17. But the government said it is too soon to implement a circuit-breaker lockdown.
Koreans Most Materialistic in Global Survey
Koreans are the most materialistic people in the developed world, an international poll suggests. The U.S.' Pew Research Center surveyed 18,850 adults in 17 advanced countries by asking them "What makes life meaningful?" and Korea was the only country where the winner was material well-being. Answers were divided in 19 categories ranging from material well-being to health and family. In Korea, material well-being topped the list with 19 percent, followed by health (17 percent), family (16 percent), general satisfaction (12 percent), society (five percent) and freedom (five percent). Overall respondents valued family most with 38 percent, followed by work (25 percent) and material well-being (19 percent).
Schools Go Back to Normal Amid Mounting Concerns
Infection concerns are mounting among parents as kindergarteners and primary and secondary schoolchildren across the country finally go back to school every day. Schools in the capital region resumed all in-person classes on Monday for the first time since the outbreak of COVID-19. But some schools can stagger learning times or conduct classes online in exceptional circumstances. There are worries over the risk of infection in schools as many children have not yet been vaccinated. A 44-year-old mother with a child in fifth grade said Sunday, "I'm very concerned about whether I should send my child to school as new daily infections exceed 3,000 even at the weekend."
HanKyoReh Shinmun (http://english.hani.co.kr)
Weekly COVID-19 deaths in S. Korea surpass those during peak of 3rd wave
South Korea’s weekly COVID-19 death total was 171 — a number higher than during the pandemic’s third wave, statistics show. The burden on the greater Seoul area’s healthcare system has also been growing, with an all-time high of more than 800 patients in Seoul, Incheon, and Gyeonggi Province who had been waiting for hospital beds for over a day as of Sunday. According to figures released by the Central Disease Control Headquarters (CDCH) on Sunday, the number of daily deaths stood at 30 as of the end of the day Saturday. Over the seven-day period between Nov. 15 and 21, the number of daily deaths from COVID-19 exhibited an upward trend, with tallies for each day recorded as 12, 22, 21, 29, 28, 29, and 30, respectively.
Gallup Korea poll: Yoon Seok-youl holds double-digit lead over Lee Jae-myung
A survey of popular support for four candidates in next year’s South Korean presidential election showed People Power Party (PPP) nominee Yoon Seok-youl leading the Democratic Party’s Lee Jae-myung by 11 percentage points, which is greater than the poll’s margin of error. Yoon outperformed Lee in support among all age groups apart from voters in their 40s. On Friday, the opinion polling company Gallup Korea announced the results of a survey carried out on Nov. 16 to 18 in which 1,000 adult South Koreans nationwide were asked, “If the following individuals were running in next year’s presidential election, who would you prefer to see as president?” The survey had a 95% confidence level with a margin of error of plus or minus 3.1 percentage points.
Japan's derailing of diplomatic schedule over Dokdo nitpicking is regrettable
Japan called off a joint press conference with the vice foreign ministers of South Korea and Japan over a visit to Dokdo by Korea’s national police chief. While Japan has long made a territorial claim to the islets, which are controlled by Korea, it’s extremely regrettable that it made the diplomatic faux pas of abruptly canceling a multilateral diplomatic event with an allied country. Vice foreign ministers from Korea, the US and Japan were supposed to hold a joint press conference immediately after deliberations in Washington on Wednesday. But shortly before their meeting began, Japanese Vice Minister for Foreign Affairs Takeo Mori announced that he couldn’t take part in the joint press conference because the head of Korea’s police had visited Dokdo. The trilateral talks were held as planned, but US Deputy Secretary of State Wendy Sherman was left hosting the press conference by herself.
The Dong-A Ilbo (http://english.donga.com/)
Pursuing unification of two Koreas is already too late, says Lee
Ruling Democratic Party presidential candidate Lee Jae-myung heralded a major reshuffle of his election camp on Sunday, “I will continue to make Lee Jae-myung’s Democratic Party, rather than the Democratic Party’s Lee Jae-myung.” “Pursuing unification (of the two Koreas) is already too late,” Lee said the previous day. “I hope that we approach the issue practically rather than politically.” The candidate is making a string of remarks differentiating his stance from that of the incumbent Moon Jae-in administration. “I will return to square one and will start from scratch. Restarting the election preparation committee, I will run speedily and nimbly towards what the public wants,”
Samsung’s Lee Jae-yong visits the US
Vice chairman Lee Jae-yong of Samsung Electronics has visited the White House and Capitol Hill during his one-week trip to the U.S. to discuss investment and global supply chain issues. The company’s new foundry investment of 20 trillion won will also be announced this week. According to Samsung Electronics on Sunday, Lee met with leading U.S. politicians in Washington, D.C. on Thursday and Friday (local time) after leaving for the U.S. last Sunday. Earlier, he also met with executives of Moderna and Verizon. On November 18, Lee met with members of the U.S. Congress responsible for laws on supporting semiconductor investment to request support to pass related laws. An official who attended the meeting said that candidate sites for the foundry will be trimmed down and officially announced this week.
Mr. Trump awarded Taekwondo ninth Dan Black belt
Kukkiwon, the world taekwondo headquarters located in South Korea, presented former U.S. President Donald Trump a Taekwondo ninth Dan Black belt. Kukkiwon President Lee Dong-seop on Saturday made a visit to Mar a Lago, Palm Beach, Florida, a resort of Mr. Trump, to bestow him the honorary ninth dan certificate and a set of Taekwondo wear. “I heard that the Donald Trump is highly interested in Taekwondo,” Lee said, requesting his continuous support and cooperation for Taekwondo and Kukkiwon. It was reported that a South Korean resident in the United States served as a bridge to enable their meetup.
The KyungHyangShinmun (http://english.khan.co.kr/)
Record-breaking Number of Young NEETs due to COVID-19: One in Ten Have Given up on Employment Including Many Women
Amidst the economic shock due to COVID-19 last year, the nation saw a record-breaking number of young people who are “Not in Education, Employment, or Training” (NEET). A recent survey showed that one in ten young people did not even try to find employment. Unlike the government’s analysis showing that employment is on the rebound, this year the increase in the number of young NEETs is expected to be bigger, pushing the total up from last year. Experts are calling for policies for young people, since it gets harder to find jobs the longer the period out of employment, and since wages could be lower even if they do find employment.
UAE Charmed by Cheongung Purchases South Korean Surface-to-Air Missiles Worth 4 Trillion Won
On November 16 (local time), the United Arab Emirates (UAE) announced a plan to purchase the South Korean medium range surface-to-air missile Cheongung (M-SAM). The UAE Ministry of Defence announced on Twitter this day that the country was trying to introduce the South Korean air defense system, M-SAM, for quality improvements to its defense capacity. The UAE defense ministry also mentioned that the scale of the M-SAM contract with South Korea would reach 12.9 billion dirhams (approx. 4.15 trillion won). Cheongung is an anti-ballistic missile that a South Korean defense contractor developed under the initiative of the Agency of Defense Development to replace the old medium range surface-to-air missile, Hawk.
Kwon Oh-soo Arrested for Allegedly Manipulating the Share Price of Deutsch Motors: Prosecutors Expected to Accelerate Investigation into Yoon Seok-youl’s Wife
Kwon Oh-soo, chairman of Deutsch Motors, was arrested on November 16 for suspicions of market manipulation--controlling the price of Deutsch Motors shares. This will likely add momentum to the investigation into Kim Keon-hee, the wife of People Power Party’s presidential candidate Yoon Seok-youl, for her involvement in the stock manipulation. Yi Se-chang, the chief judge overseeing warrants at the Seoul Central District Court, held a hearing on Kwon’s arrest warrant for allegedly violating the Financial Investment Services and Capital Markets Act this day and issued the warrant claiming that there was a risk of Kwon attempting to destroy evidence. Kwon is suspected of leaking insider information and mobilizing outside figures as “players” to illegally purchase 15.99 million shares to manipulate prices while serving as the CEO of Deutsch Motors as well as the company’s largest shareholder from 2009 to 2012.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Samsung Elec shares rally on imminent announcement of $17 bn US fab project
Samsung Electronics Co. will likely officially confirm Taylor, Texas, as the base for its $17 billion next-gen foundry in the United States this week as its chief Jay Y. Lee winds up his weeklong visit to the U.S. to better posture the chipmaker to compete with dominant pure-play foundry TSMC which had been aggressively expanding during Lee’s eight-month-long prison confinement. Samsung Electronics – with foundry operation in Austin, Texas – has internally chosen Taylor as the site for its No. 2 U.S. foundry and is awaiting approval of chip industry incentive-related bill, according to sources.
Korean brokerages turn gloomier on ’22 Kospi with range projected at 2800-3400
Market analysts in South Korea are turning grimmer on the outlook for 2022 as they expect slowdown in profits of companies on reduced base effect of the Covid-19 pandemic. According to sources from the financial investment industry on Sunday, 13 local brokerage houses estimated that the benchmark Kospi would reach between 2,800 and 3,400 on average in 2022. It is lower than the projections made by local brokerages a month earlier, under which the bottom had been projected at 2,800 by Samsung Securities, 2,850 by Shinhan Financial Investment and KTB Investment Securities, and 2,950 by Kiwoom Securities. Most of them predict the Kospi would go up to 3,400 to 3,500.
KEPCO E&C shares extend losses despite vow to keep nuclear reactor design team intact
KEPCO Engineering & Construction shares extended near 12-percent plunge of Friday, falling 4 percent on Monday despite its announcement that it will suspend a plan to reshuffle its organization centered on breaking up the nuclear reactor design team. The state-owned nuclear power plant suffered investor shunning last week upon report that it was reviewing to disperse the team for operational efficiency in line with the government’s policy to phase out of nuclear power plants in favor of renewable energy.
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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
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Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
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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
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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
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