Monday, February 7, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
LG Electronics reveals 2022 HVAC portfolio at AHR Expo in Las Vegas
LG Electronics is showcasing its robust 2022 lineup of commercial, light commercial and residential HVAC solutions, including industry-leading Variable Refrigerant Flow (VRF) technology and latest energy efficient heat pump systems, this week at the 2022 AHR Expo in Las Vegas. One of the key highlights is the official debut of LG’s Inverter Scroll Heat Pump Chiller (ISHPC). Bringing innovation to the air-cooled chiller category, the LG ISHPC utilizes inverter technology to provide hot and cold water for both comfort and process applications, delivering powerful performance without sacrificing quiet operation, flexibility or energy efficiency.
Rise and fall of enterprises
While successful conglomerates, such as Samsung Group, LG Group, Hyundai Motor and SK Telecom, achieved continued growth after the currency crisis in 1997, dozens of other large enterprise groups including Daewoo Group either bankrupted or liquidated in the aftermath of the financial crisis. Among others, Daewoo Group, which once grew to run nearly 400 overseas subsidiaries as one of top-ranking enterprises, was disintegrated in 1999 due mainly to excessive business expansion and debt. With advent of the global digital economy, information technology (IT) industry in Korea made rapid growth after the currency crisis.
Amb. Hossain presents credentials to President Moon as new envoy of Bangladesh
On Feb. 4, 2022, newly accredited Ambassador M. Delwar Hossain of Bangladesh in Seoul presented his credentials to President Moon Jae-in at the Presidential Mansion of Cheong Wa Dae in Seoul. Minister of Foreign Affairs Chung Eui-yong and senior officials from the Cheong Wa Dae and the Foreign Ministry were present during the ceremony. During the conversation after the presentation of credentials, Ambassador Hossain conveyed warm greetings of the President and the Prime Minister of Bangladesh to the President of the Republic of Korea. Ambassador Hossain referred to the existing excellent bilateral relationship between the two countries that witnessed tremendous growth in depth and dimension during the last 5 decades.
KBS (http://world.kbs.co.kr/service)
Top Nuclear Envoys of S. Korea, US, Japan to Hold Meeting in Hawaii
The top nuclear envoys of South Korea, the U.S. and Japan will hold an in-person meeting this week in Hawaii amid growing tensions on the Korean Peninsula after a series of missile launches by North Korea. The U.S. State Department said on Sunday that Special Representative for North Korea Sung Kim will travel to Honolulu, Hawaii from Thursday to next Tuesday for a meeting with his South Korean and Japanese counterparts Noh Kyu-duk and Takehiro Funakoshi. The department said Kim will host a trilateral meeting to discuss a broad range of issues, including the complete denuclearization of the peninsula, the importance of trilateral cooperation, and the immediate resolution of the abductions issue.
National Assembly Set to Begin Deliberations on Extra Budget
The National Assembly will begin deliberating the government’s supplementary budget proposal of 14 trillion won to support small merchants hit by the COVID-19 pandemic. The parliament's Special Committee on Budget and Accounts will hold a plenary session at 10 a.m. Monday to initiate deliberations. Rival parties are likely to begin negotiations on Tuesday, when parliamentary standing committees are set to wrap up their review of the budget plan. The ruling Democratic Party is pushing to more than double the extra budget to over 35 trillion won to help small businesses suffering from a cash crunch due to the pandemic.
COVID-19 PCR Test Priority to be Given to High-Risk Groups from Feb. 3
Starting on February 3, the government will give priority access to COVID-19 PCR tests to high-risk groups, as an omicron-driven spike in cases takes hold. Senior health ministry official Son Young-rae said on Wednesday that right after the Lunar New Year holiday, test sites will be expanded to local hospitals and clinics, with PCR tests to be offered to people who have come into close contact with a patient, have respiratory symptoms and seniors aged 60 or older. Priority-based testing was first implemented in four omicron risk areas - the southwestern city of Gwangju, surrounding South Jeolla Province, and the Gyeonggi Province cities of Pyeongtaek and Anseong - on Wednesday.
Yonhap (http://english.yonhapnews.co.kr)
Yoon leads Lee 43.4 pct to 38.1 pct: poll
Main opposition presidential candidate Yoon Suk-yeol is leading his ruling party rival Lee Jae-myung with 43.4 percent public support to 38.1 percent, a survey showed Monday. Yoon of the People Power Party gained 3.2 percentage points from a week ago, while Lee of the Democratic Party lost 0.4 point, according to the Realmeter survey conducted on 1,509 adults from last Wednesday to Friday. Yoon led Lee by 5.3 percentage points, which was outside the margin of error of plus or minus 2.5 percentage points at a 95 percent confidence level.
N. Korea stays silent on much-anticipated parliamentary meeting
North Korea stayed mum on a much-anticipated meeting of the country's rubber-stamp parliament Monday, a day after it was supposed to take place, spawning speculation the event might have been delayed. The 6th session of the 14th Supreme People's Assembly (SPA) was to be held Sunday to discuss issues that included the state budget and tasks for this year, according to Pyongyang's state media, but they have yet to report on the opening of the event as of Monday morning. The North's official media outlets, such as the Korean Central News Agency and the Rodong Sinmun newspaper, usually report on the outcome of such a major political event the next morning.
SK Telecom partners with U.S. air taxi startup in developing flying cars
SK Telecom Co., South Korea's top wireless carrier, said Monday it has partnered with U.S.-based Joby Aviation in developing flying cars in a move to expand its foothold in urban air mobility (UAM) services. SK Telecom said the two companies signed an agreement to form a regular consultative team to boost cooperation in introducing air taxis in South Korea and to create "Mobility as a Service" (MaaS), which connects cars, connected car platforms and business-to-customer services. "Close cooperation with top global players is essential to becoming a leader in future industries, which is driven by UAM, self-driving vehicles and robots," CEO Ryu Young-sang said in a statement.
The Korea Herald (http://www.koreaherald.com)
Yoon leads Lee 43.4% to 38.1%: poll
Main opposition presidential candidate Yoon Suk-yeol is leading his ruling party rival Lee Jae-myung with 43.4 percent public support to 38.1 percent, a survey showed Monday. Yoon of the People Power Party gained 3.2 percentage points from a week ago, while Lee of the Democratic Party lost 0.4 point, according to the Realmeter survey conducted on 1,509 adults from last Wednesday to Friday. Yoon led Lee by 5.3 percentage points, which was outside the margin of error of plus or minus 2.5 percentage points at a 95 percent confidence level. Ahn Cheol-soo, the presidential candidate of the minor opposition People's Party, lost 2.8 percentage points to post 7.5 percent.
N. Korea stays silent on much-anticipated parliamentary meeting
North Korea stayed mum on a much-anticipated meeting of the country's rubber-stamp parliament Monday, a day after it was supposed to take place, spawning speculation the event might have been delayed. The 6th session of the 14th Supreme People's Assembly (SPA) was to be held Sunday to discuss issues that included the state budget and tasks for this year, according to Pyongyang's state media, but they have yet to report on the opening of the event as of Monday morning. The North's official media outlets, such as the Korean Central News Agency and the Rodong Sinmun newspaper, usually report on the outcome of such a major political event the next morning.
Samsung, Hyundai hardly seen at 2022 Beijing Olympics
For major South Korean companies like Samsung and Hyundai, the Olympics have been, for many years, a golden opportunity to raise brand awareness and promote products. But in the 2022 Beijing Olympics that officially kicked off on Friday, they don’t seem to be taking the sports event as a major arena for their marketing blitzes any more. For this Winter Games, Samsung Electronics has not published any press releases promoting their sponsorships, a marked departure from when it launched promotional campaigns and set up offline booths at hosting cities for 2014 Sochi, 2016 Rio and 2018 PyeongChang Olympics, even months before the Games’ pronouncement.
The Korea Times (http://www.koreatimes.co.kr)
Lee, Yoon slam Beijing Games for 'cultural appropriation'
The major presidential candidates criticized Beijing's apparent bid to place its claim on Korean culture, after a woman wearing hanbok, Korea's traditional dress, appeared representing an ethnic minority of China during the opening ceremony of the Beijing Winter Olympics. The candidates promptly slammed the opening ceremony for reflecting China's apparent claims to Korean culture and history as part of its own. The main opposition party blamed the Moon Jae-in government for keeping silence on China's attempts to appropriate Korean culture. The opening ceremony scene raised the eyebrows of the Korean public, after a female performer clad in hanbok marched with other ethnic minorities of China as they carried China's national flag.
Capital gains tax on stock investors emerges as key voting issue
The government's plan to impose at least 20 percent tax on gains of at least 50 million won ($41,680) from stock trading starting in 2023 is emerging as a key election issue, in the latest of an economic policy becoming politicized due to public sentiment swinging widely. Whether the plan will undergo a politically motivated revision remains to be seen, as illustrated in the previous failure of a similar taxation effort by the finance ministry to tighten rules over the definition of "large shareholders" to holders of stocks of over 300 million won, down from 1 billion won. Main opposition presidential contender Yoon Suk-yeol said during a nationally televised debate, Feb. 3, that the plan should be abolished, in a major change of stance from his presidential pledge announced Dec. 27, when he said the plan should proceed as scheduled, whereas only the stock trading tax should be abolished.
US criticizes China's choice of Olympic torchbearer
The United States on Sunday criticized China's choice of an ethnic Uyghur to carry the Olympic torch, calling it an effort by Beijing to "distract us" from the mistreatment of the minority group. The appearance Friday of Dinigeer Yilamujiang, a 20-year-old cross-country skier, as the final torch bearer thrust her ― and the Uyghur question ― squarely onto the world stage. "This is an effort by the Chinese to distract us from the real issue here at hand," U.S. ambassador to the United Nations Linda Thomas-Greenfield said Sunday on CNN: "that Uyghurs are being tortured, and Uyghurs are the victims of human rights violations by the Chinese." She added: "We know that a genocide has been committed there. We've called them out on it. The president has called them out on it."
Chosun Ilbo (http://english.chosun.com)
Korea's Accumulated COVID Cases Surpass 1 Million
The accumulated number of COVID-19 cases in Korea surpassed 1 million on Sunday, so about two percent of the total population have been infected since the country's first case was reported on Jan. 20, 2020. But the latest surge is incomparable to any of earlier waves and responsible for 360,033 cases or more than one-third. Daily cases reached 35,286 cases early Monday despite new lockdown restrictions. The infection rate among all PCR tests carried out over the weekend stood at one-fifth or 20.8 percent, almost four times higher than the previous week's 5.1 percent.
Korea's Working-Age Population Dwindles
Korea's working-age population will continue to decline due to the low birthrate and aging society. The Ministry of Employment and Labor said Thursday that the working-age population aged 15 to 64 is expected to dwindle by 3.2 million from 2020 to 2030. The economically active population is therefore projected to decline by 1.25 million over the period. The working-age population is people who are capable of taking part in economic activities, but the economically active population is those who are actually employed or looking for work. That will bring seismic changes to Korea's labor market. Rising demand for nursing home services is expected to lead to an increase of 781,000 jobs in the welfare sector by 2030, including 516,000 social welfare positions and 256,000 jobs in healthcare.
1/3 of Voters Still to Be Won over in Presidential TV Debates
The four major presidential candidates faced off in the first round of live TV debates on Thursday. Lee Jae-myung of the ruling Minjoo Party, Yoon Seok-youl of the main opposition People Power Party, Ahn Cheol-soo of the minor opposition conservative People's Party, and Sim Sang-jung of the minor progressive Justice Party exchanged barbs on key policy issues. Each worked to their own strengths in a bid to win over the millions of voters who have so far been unimpressed by any of them. Lee focused on his preparedness to be an "able business-savvy president." Yoon stressed the need to "normalize investigation agencies." Ahn reiterated the "future" of the country and the "unity of the people" and Sim emphasized "eco-friendly and welfare" policies.
HanKyoReh Shinmun (http://english.hani.co.kr)
The politics of S. Korea’s “activated twentysomething men”
The South Korean presidential race is experiencing whirlwind after whirlwind with every shift in public opinion among voters in their 20s. Especially noteworthy is how, in the case of People Power Party presidential nominee Yoon Suk-yeol, poll numbers seesaw according to the attitude of twentysomething male voters. Leading candidates and parties have prostrated themselves, professing they would listen to the voices of younger generations. But instead of listening to young voters as a whole — which would include women — they have only paid attention to a subset of men who avow “anti-feminism.” These are the kind of men in their 20s who actively speak and act on gender issues who I call “activated twentysomething men” to distinguish them from other young adult groups.
Yoon’s call for additional THAAD to protect Seoul stirs controversy over practicality
Concerning North Korea’s continued missile tests, People Power Party (PPP) presidential candidate Yoon Suk-yeol said on Tuesday that, if elected, he would “establish a multi-level missile defense system that includes Terminal High Altitude Area Defense (THAAD)” in order to “ensure the safety of the Korean people against the threat of nuclear missiles from North Korea, from the greater Seoul area to northern Gyeonggi.” In a press conference Monday, a subsidiary of Yoon’s election committee in charge of the candidate’s foreign and security policy platform stated that under a Yoon presidency, the South Korean government would purchase THAAD from the US with 1.5 trillion won and directly operate the system through the South Korean military.
Moon Jae-in’s dark legacy in Yoon Suk-yeol
Professor Emeritus Byun Hyung-yoon of Seoul National University along with 130 members of a civic group calling for the formation of a democratic reform government stated on Jan. 28 that “an ahistorical and antidemocratic force is attempting to overturn the times,” adding that “citizens of the candlelight movement of 2017 who devoted themselves to ensure the survival of Korean democracy today should step forward again and protect [democracy] through their votes.” Though there are only 30 days left until the presidential election, People Power Party presidential nominee Yoon Suk-yeol is still grappling with controversies pertaining to himself, his wife and his mother-in-law. There’s no shortage of things for him to worry about.
The Dong-A Ilbo (http://english.donga.com/)
Cumulative COVID-19 cases top 1 million
This is the cumulative number of confirmed COVID-19 cases in Korea as of 12 a.m. on Sunday. COVID-19 cases cumulative have toped the 1 million mark on 748th day after the virus was first reported in the country on Jan. 20, 2020. As the growth of daily new cases has accelerated due to the spread of the Omicron variant, which started late last year, the cumulative number surpassed 500,000 on Dec. 10, before topping the 1 million mark about two months later. Daily new COVID-19 cases hit 38,691, an all-time high on Sunday. The total daily cases reached almost 40,000 for two consecutive days after Saturday (36,362).
Controversy over Beijing Olympics’ artificial snow making
Concerns are growing that the 2022 Beijing Winter Olympics may have a negative impact on the environment as many competitions will be held on man-made snow. Almost a daily amount of drinking water for 100 million people will be turned artificially into snow over the Olympic period, increasing concerns that residents around event venues will face a severe water scarcity. Although China promoted its pursuit of eco-friendliness during the opening ceremony with a smaller-sized flame on display, the very opposite is happening on the site. Beijing does not only have a climate not conducive to winter events but also has to spend more electricity and water producing snow amid growing global temperatures due to a warming planet, according to CNN on Saturday.
FM Chung protests against Japan’s Sado mine UNESCO bid
South Korean Foreign Minister Chung Eui-yong made a strong complaint about Japan’s move to have the mine on the island of Sado designated in the UNESCO World Heritage List during his first phone call with Japanese Foreign Minister Yoshimasa Hayashi. According to the South Korean foreign ministry, Minister Chung said, “The Japanese government has decided to press ahead with the UNESCO designation of Sado mine, turning a blind eye to the painful history of the Koreans subjected to forced labor.” During the phone call, Minister Chung reiterated Seoul’s stance on various issues including the Korean women victimized by Japan’s sex slavery, Japan’s export restrictions, and the discharge of the radioactive water in Fukushima.
The KyungHyangShinmun (http://english.khan.co.kr/)
Yoon Seok-youl Attacks Lee Jae-myung for Irrelevant Answers to Questions on Daejang-dong, Lee Fights Back Saying, “We’re Not Here to Select a Special Prosecutor”
The discussion on the morality of the candidates from the two major parties was one of the hottest scenes in the first televised presidential debate of the four major political parties on February 3. Three of the candidates concentrated their attacks on Democratic Party of Korea candidate Lee Jae-myung and his alleged involvement in the special favors granted in the Daejang-dong development project when Lee served as the mayor of Seongnam. There was a moment when Lee and Yoon Seok-youl clashed emotionally, with Lee arguing, “We’re not here to select a special prosecutor,” and Yoon accusing Lee of trying to avoid the topic. Yoon also came under fire for his wife, Kim Keon-hee, who allegedly defended Ahn Hee-jung, former governor of Chungcheongnam-do who was found guilty of sexual assault, in the “7-hour recording.” When the candidates took turns and led the debate on the topic of their choice, the debate turned into a stage for verifying various allegations.
A Stop to Smombie: Why Samsung Electronics Banned the Use of Smartphones While Walking
Samsung Electronics has made the Five Major Safety Regulations, including a ban on the use of cell phones while walking, mandatory in its main worksites. The company seems to be making an effort to improve safety in its workplaces after the Serious Accidents Prevention Act was enforced on January 27. On February 2, Samsung Electronics announced that it notified its workers of the official implementation of the Five Major Safety Regulations for a Safe Workplace. The regulations state no using cell phones while walking, no jaywalking, no using cell phones while driving, remaining within the speed limit in work sites and no speeding while driving, and wearing helmets while riding a bicycle.
Social Distancing to Be Extended 2 More Weeks: Gatherings Restricted to 6 People, Business Hours End at 9 p.m.
The government decided to extend the current physical (social) distancing measures for two more weeks. Thus private gatherings will be restricted to up to six people, and business hours for public facilities such as restaurants and cafes will end at 9 p.m. until February 20. The government will also expand the prescription of pills to treat COVID-19, which are currently given to patients ages sixty and older. The government lowered the minimum age for prescriptions to fifty. On February 4, Prime Minister Kim Boo-kyum presided over a meeting of the Central Disaster and Safety Countermeasure Headquarters in response to COVID-19 at the government office in Seoul and said, “After the Lunar New Year holiday, the spread of the omicron strain of COVID-19 has been soaring unhindered.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
SSG.com to proceed with IPO without completing merger with Ebay Korea
SSG.com, online shopping platform under South Korea’s Shinsegae Group, will proceed ahead with an initial public offering on the main Kospi this year before it completes integration with eBay Korea that joined the family through 3.4 trillion won ($3 billion) acquisition last year. According to multiple sources from the investment bank industry on Sunday, SSG.com plans to file for a preliminary IPO review in April. Its IPO lead managers Mirae Asset Securities and Citigroup Global Markets Korea Securities are making the final administrative touches. SSG.com opted not to hastily integrate with eBay Korea to go public as an industry No. 2. A merger would command 15 percent of the e-commerce market in Korea after Naver Inc. with 17 percent.
Korean battery SK On this week invites bidders for pre-IPO fundraising
SK On Co., a pure-play battery maker that separated from South Korea`s SK Innovation last year, will invite pre-IPO funding this week to expedite its overseas expansion. Deutsche Securities and JP Morgan will lead-manage the pre-IPO fundraising estimated at 3 to 4 trillion won ($3.3 billion) Given SK On’s valuation at around 25 to 30 trillion won, the successful bidders in the pre-IPO offering could gain 10 to 20 percent stake in the Korean battery maker fast rising through aggressive expansion.
S. Korea’s homegrown SPA brands overtake Uniqlo, led by Topten
South Korea’s homegrown fast fashion brands are rapidly filling the vacuum left by the country’s once specialty store retailer of private label apparel (SPA) leader Uniqlo, with Topten vowing to earn 720 billion won ($600 million) in sales this year to cement its leading position for two straight years. Topten announced on Sunday that it has set a target to rake in 720 billion won in sales in 2022 after it claimed the No. 1 position in the country’s SPA market for the first time in the previous year with 585 billion won in sales, beating Japanese SPA giant Uniqlo that earned 582.4 billion won in Korea in the fiscal year ended in August 2021.
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, 37 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:
http://pdf.koreapost.co.kr/38/3801.pdf
http://pdf.koreapost.co.kr/38/3802.pdf
http://pdf.koreapost.co.kr/38/3803.pdf
http://www.koreapost.co.kr/pdf/list.php?category=&syear=2018&smonth=03&sday=26&hosu=40
English E-daily: http://www.koreapost.com/news/articleView.html?idxno=10690