Headline, April 12, 2022
Headline, April 12, 2022
  • Lee Kyung-sik
  • 승인 2022.04.12 09:28
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Tuesday, April 12, 2022
Round-up of important news from major Korean dailies and from international media today

The Korea Post ( www.koreapost.com )

Osan City makes another big leap with "Eduverse"
Education Mecca Osan City is making another big leap forward with 'Eduverse'. 
duverse, a compound word of education and metaverse, is a branding strategy of Osan City to be reborn as a new city. It means that people and things interact in a space where virtual and reality converge, and actively lead the creation of educational values. It highlights the efforts, achievements and future blueprints of Osan City, which has been recognized as a representative city of lifelong education beyond public education as Korea's representative educational city.


UAE Ambassador stresses the efforts to attract foreign investments to UAE
LOTTE Home Shipping organized on March 25-29, 2022 via online and offline, with the participation on Kwon Chil-seung, Minister of SMEs and Startups, and a number of dignitaries and representatives of related sectors, in order to support SMEs. On the sidelines of the exhibition, His Excellency Abdulla Saif Al Nuaimi, UAE Ambassador to Seoul, delivered a speech via a video clip, in which he addressed the efforts of the UAE to attract foreign investments to the UAE and the entry of Korean companies into the markets of the Middle East countries and the UAE, and that was aimed at to attract and encourage Korean companies and foreign investments to enter the Middle East markets, specifically the UAE-Dubai.


Yoon taps 8 Cabinet members, including defense, finance ministers
President-elect Yoon Suk-yeol announced his nomination of eight ministers of his government on April 10, 2022. The new nominees included Rep. Choo Kyung-ho as new Deputy Prime Minister for Economy and former Republic of Korea Armemf Forces Joint Chiefs of Staff Vice Chairman Lee Jong-sup as his new Defense Minister. Yoon also appointed Lee Chang-yang, a professor of the Korea Advanced Institute of Science and Technology, as his Industry Minister and former Governor Won Hee-ryong of the Jeju Province as his new Minister of Land. Moon also named Lee Jong-ho, director of Seoul National University's semiconductor research institute, as his new Science Minister and former Director Chung Ho-young of Kyungpook National University Hospital as his new Minister of Health.




Chosun Ilbo (http://english.chosun.com)
S.Korea to Launch Homegrown Spy Satellites

South Korea is planning to launch its first homegrown military surveillance satellite in late 2023, according to the military Sunday. The spy satellite is the key element in a "kill chain" to detect North Korean preparations for a nuclear or missile attack in advance and take preemptive action before it is launched. It will be launched by a rocket from SpaceX, Elon Musk's commercial space company. In 2020, South Korea also launched a military communications satellite atop a SpaceX rocket.  According to the Defense Acquisition Program Administration, five military surveillance satellites will be launch on Falcon 9 rockets under a project for South Korea to achieve a little more independence from the U.S. in military surveillance.

Korea's Smaller Carmakers Keep Losing Money
Korea's three smaller automakers GM Korea, Renault Korea and Ssangyong failed to turn around their fortunes again last year and lost money. GM Korea said last Friday that it suffered a W376 billion operating loss in 2021, even more than its W317 billion loss a year earlier (US$1=W1,229). Sales shrank W1.5 trillion to W8.5 trillion. Rising raw material costs and production crunches due to a global semiconductor chip shortage worsened the problem. Parent company GM's global operating profit rose 1.5 times due to improved profitability, but that was not reflected in the Korean operation.

Yoon to Meet Ex-President Park in Gesture of Reconciliation
President-elect Yoon Seok-youl will visit the southeastern city of Daegu on Tuesday and meet disgraced ex-president Park Geun-hye, who still enjoys the adulation of hardline conservatives. The meeting is expected to take place in Park's new walled home in the suburb of Dalseong. Yoon, a long-time prosecutor, personally led an inquiry that contributed to Park being sentenced to 20 years in jail for corruption and abuse of office and opened the shenanigans of her operetta court to public view. But now, having won the election on the ticket of her former party, he is expected to invite Park to attend his inauguration ceremony on May 10.



Joongang Ilbo (https://koreajoongangdaily.joins.com )
More than just clothing, hanbok retains cultural significance
"When do you wear hanbok?" If you ask a Korean this question, many will offer the same answer. They "hardly ever take it out of the wardrobe," Chang Yoon-seon, a 38-year-old mother in Seoul, said. Chang's first and only hanbok was for her wedding reception in 2008. Since then, it has never been taken out of her wardrobe, except once in 2019 when her sister got married. Shin Su-yeon, a 64-year-old housewife living in Anyang, Gyeonggi, has three different hanbok — one that she received from her mother-in-law in 1990s and two more for her children's weddings. Shin tried wearing one of them during one of Korea's traditional holidays, like the Seollal new year holiday or Chuseok harvest holiday, but it was just "too cumbersome when you constantly have to go in and out of the kitchen to prepare and serve food."

Zelensky tells Assembly Korea must do 'much more'
Ukrainian President Volodymyr Zelensky called on Korea to send key military assets that might turn the tide in Ukraine's defense against Russia's invasion. Korea has the airplanes and tanks that we need today to fight off Russia,” said Zelensky in a virtual address to the National Assembly Monday. “Such weapons would not only save the lives of ordinary Ukrainians, but also give them an opportunity to save their country.” Zelensky’s address to the Korean parliament came 47 days after Russia's invasion. Homes, schools, train stations and airports have been destroyed, forcing at least 4.5 million to flee the war, and another 1,793 civilians killed as of Saturday, according to the United Nations.

Carbon credit costs pile on as companies face more regulation

Soaring carbon costs are adding up for companies in Korea as the government is set to tighten environmental rules. On Monday, carbon credits traded at 21,000 won ($17) per ton of greenhouse gas emitted, up 36 percent on year, according to the Korea Exchange. Carbon pricing is affected by local policy changes as well as fluctuations in the global carbon market. In the EU, carbon permit prices sharply plunged following Russia's invasion of Ukraine on Feb. 24, from 87 euros ($94.7) that day to 58.3 euros on March 7, a 49 percent drop. The number bounced upward to the 80-euro level, to close at 80.1 euros last Friday, as the impact of the Russia-Ukraine conflict on the European economy was forecast to be less than the initial expectation.



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

S. Korea decides to get rid of ‘Korean age’ system
The presidential transition committee will get rid of the ‘Korean age’ system to follow the international standard. If accepted, Koreans could be up to two years ‘younger’ than their Korean age.According to President-elect Yoon Suk-yeol’s presidential pledge, we will get rid of the ‘Korean age’ system and follow the international standard, both legally and socially,” Lee Yong-ho, a member of the committee and the People Power Party, said during a briefing in a press conference room of the committee located in Tongui-dong, Jongno-gu, Seoul on Monday.


Businesses start to resume normal activities
South Korean businesses that took actions to reduce domestic and overseas business trips due to COVID-19 are now gradually resuming normal activities according to the government’s easing of social distancing guidelines. According to the business circles on Monday, Samsung Electronics made an internal announcement on eased disease control guidelines, such as partially resuming in-person meetings, group training, and business trips, which had been suspended. Domestic and overseas business trips are allowed again and events can be held for up to 299 people.


Minister nominees’ columns on low birth rate cause a stir

Health Minister nominee Chung Ho-young and Trade Minister nominee Lee Chang-yang have caused a stir for their views on low birth rate they revealed in newspaper columns. In a column “Road to Patriotism,” which he wrote for a local newspaper in 2012, Health Minister nominee Chung wrote, “There has never been a time when it was easier to become a patriot than now,” adding, “You can easily become a prospective patriot right away just by getting married, and if it leads to childbirth, you will finally join the ranks of true patriots.” Chung went on to say, “According to some calculations, Koreans will become extinct in the year 2900. If you have any doubts, look around. Only one out of 10 women in their 20s got married.”




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

Korea sees first inversion in 3 vs 30-yr govt bond yield flagging slowdown

South Korea’s yield curve across the three-year and 30-year government bonds inverted for the first time on Monday in grim signal for a recession or economic slowdown in coming years. The benchmark three-year government bond yield on Monday spiked to 3.186 percent, the highest level since January 11, 2012, after gaining 19.9 basis points from the previous session. The five-year and ten-year yields jumped 18.7 and 13.6 bps, respectively to 3.303 percent and 3.305 percent.


Naver’s foray into Europe reaping fruit with startups bred to unicorns

Rising food prices in the wake of global supply chain disruption, aggravated by Russia’s invasion of Ukraine, is further threatening food security in South Korea that has recently seen its grain self-sufficiency rate dip below 20 percent, the lowest level. According to Maeil Business Paper’s analysis of the grain self-sufficiency data by the UN Food and Agriculture Organization (FAO), Korea’s rate registered at 19.3 percent in 2020, falling below the 20-percent level for the first time. Its rate stood at 30.9 percent in 2000, when the international organization first started to track internal self-sufficiency trends.


Korea’s exports gain 3% vs imports of 13% April 1-10, deficit at $3.5 bn

South Korean exports have sharply lost steam, while imports maintained expansion in double digits due to spike in fuel cost, resulting in a trade deficit of more than $3 billion in the first 10 days of April. According to data released by the Korea Customs Service on Monday, the country’s exports totaled $15.34 billion in the first 10 days of April, up 3 percent from a year-ago period. Daily exports averaged at $2.17 billion, gaining 17.7 percent from a year earlier, based on seven working days, a day shorter than a year ago.




HanKyoReh Shinmun (http://english.hani.co.kr)

Yoon’s first 8 Cabinet picks show lack of diversity, with only 1 woman and no young people

When South Korean President-elect Yoon Suk-yeol released his slate of nominees to lead eight government ministries on Sunday, the average nominee was a 60.5-year-old man from Korea’s southeast region of Yeongnam. Yoon described his nominations as being based on merit, but the lack of representation for women and young people has prompted criticism that Yoon is failing to live up to his espoused value of “unity.” All the ministerial nominees that Yoon announced Sunday are in their 50s and 60s. The oldest nominee, at 68, is Park Bo-gyoon, former editor for the JoongAng Ilbo, whom Yoon has tapped to head the Ministry of Culture, Sports and Tourism, while the youngest are both aged 56: Kim Hyun-sook, nominee to lead the Ministry of Gender Equality and Family, and Lee Jong-ho, nominee to head up the Ministry of Science and ICT.

Yoon’s first 8 Cabinet picks show lack of diversity, with only 1 woman and no young people

When South Korean President-elect Yoon Suk-yeol released his slate of nominees to lead eight government ministries on Sunday, the average nominee was a 60.5-year-old man from Korea’s southeast region of Yeongnam. Yoon described his nominations as being based on merit, but the lack of representation for women and young people has prompted criticism that Yoon is failing to live up to his espoused value of “unity.” All the ministerial nominees that Yoon announced Sunday are in their 50s and 60s. The oldest nominee, at 68, is Park Bo-gyoon, former editor for the JoongAng Ilbo, whom Yoon has tapped to head the Ministry of Culture, Sports and Tourism, while the youngest are both aged 56


China says additional UNSC sanctions on N. Korea could add “fuel to the fire”

China has indicated to the US that it opposes additional UN Security Council (UNSC) sanctions against North Korea despite the North’s recent intercontinental ballistic missile (ICBM) tests. This reiteration of Beijing’s stance comes amid fears that Pyongyang could conduct additional missile launches or resume its nuclear testing around April 15, which is North Korea’s biggest holiday — known as the Day of Sun, marking the birth of Kim Il-sung 110 years ago.



The KyungHyangShinmun (http://english.khan.co.kr/)

All First Eight Members of the Cabinet Have Worked with President-elect Yoon

On April 10. President-elect Yoon Seok-youl nominated People Power Party lawmaker Choo Kyung-ho as deputy prime minister and minister of economy and finance. He announced the first eight members of his cabinet including former Jeju governor, Won Hee-ryong as minister of land, infrastructure and transport and former vice chairman of the Joint Chiefs of Staff Lee Jong-seop as minister of national defense. The latest nominations also revealed Yoon’s tendency to appoint people he has worked with. This day, President-elect Yoon personally announced his ministerial nominees at the presidential transition committee press room in Tongui-dong, Jongno-gu, Seoul. The announcement was made a week after Yoon nominated prime minister nominee Han Duck-soo on April 3.


Ukrainian Defense Minister Asked Minister Suh Wook for Surface-to-Air Missiles (Shingung), U.S. Also Adding Pressure

It was confirmed on April 11, that the South Korean government refused a request from Ukraine for a portable surface-to-air guided weapon (SAGW) system, which is a weapon of destruction. News also got out that the U.S. pressed South Korea to provide Ukraine with weapons. There is a likelihood that Ukrainian President Volodymyr Zelenskyy may ask for weapons in his video speech before the National Assembly of Korea scheduled for this afternoon, so attention is on the South Korean government’s response. This day an official from the Ministry of National Defense said, “In a phone call with Defense Minister Suh Wook on April 8


Han Duck-soo’s Property Amounts to 8.25 Bn Won: Earned 4 Bn Won in the Last 10 Years and Has 5.1 Bn Won in Savings

Confirmation hearing procedures for the nation’s prime minister began after the National Assembly received a request for the confirmation hearing of prime minister nominee Han Duck-soo (73) on April 7. The confirmation hearing team for the prime minister nominee requested the National Assembly for Han’s hearing in the name of President-elect Yoon Seok-youl at around 3 p.m. this afternoon. In the written request, the president-elect backed his choice and wrote, “The nominee, Han is a former official well acquainted with the economy and has accumulated a wealth of experience in economy, trade and foreign affairs encompassing the private and public sector during his 37-year service in public office.”





Biden to Visit Japan in May, Biden-Yoon Summit Possible

U.S. President Joe Biden has hinted that he would visit Japan next month to attend a meeting of leaders of Quad member nations. According to Reuters, Biden told Indian Prime Minister Narendra Modi during video-linked summit talks on Monday that he looked forward to seeing him in Japan for a Quad meeting around May 24. The Quad comprises the U.S., India, Japan and Australia. In virtual talks in March, the leaders of the Quad members agreed to hold an in-person meeting in Japan this spring, but the specific date has not yet been announced.


Yoon to Visit Fmr. Pres. Park in Daegu Tuesday

President-elect Yoon Suk Yeol will visit former President Park Geun-hye in Daegu on Tuesday. Yoon kicked off a nationwide tour on Monday, beginning with a trip to the southeastern city of Daegu and North Gyeongsang Province. The president-elect will visit Park's new home in Dalseong in her hometown of Daegu on Tuesday afternoon. Park recently moved into the new home after being released from prison under a presidential pardon. Yoon is expected to invite Park to his inauguration ceremony, set for May 10.


Fourth Body Retrieved in Waters off Taiwan Confirmed as Missing S. Korean

he fourth body found during a search operation in Taiwanese waters has been confirmed as one of the six South Koreans missing since last week. According to Seoul's foreign ministry, the body was retrieved in waters off Xiyu, Penghu County in Taiwan at around 4 p.m. on Monday. The ministry said on Monday that the body was confirmed as one of the crew members of the ill-fated tugboat Kyoto 1, which went missing last Thursday. All of the six crew members are South Korean nationals. Two bodies were found and confirmed to be among the missing sailors on Friday and a third body was found on Saturday.



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

Zelenskyy asks S. Korea for military equipment support

Ukrainian President Volodymyr Zelenskyy on Monday asked South Korea for military equipment support to help his country's fight against Russian aggression. Zelenskyy made the request in a virtual address before South Korean lawmakers, saying Ukraine needs various military technologies, including planes and tanks. "The Republic of Korea can help Ukraine," he said. "South Korea has the various military equipment that can stop Russia's vessels and missiles."


Transition team eyes scrapping 'Korean age'

The transition team of President-elect Yoon Suk-yeol said Monday it will push to scrap the "Korean age" system to reduce the social cost of determining a person's age in multiple ways. In South Korea, three age systems are currently in use. The most commonly used system is the so-called Korean age, under which a person turns 1 on the day they are born and adds a year on the first day of the new year. The second system is the internationally recognized system, whereby a person's age is determined on their birthday, while the third system adds a year to a person's age on the first day of the new year.


N. Korea opens new exhibition hall to mark 10th anniv. of Kim's leadership

North Korea opened a new exhibition hall at a major museum in Pyongyang to mark the 10th anniversary of its leader Kim Jong-un's rise to power, state media reported Monday, amid efforts to tout his leadership. At the Korean Revolution Museum, the North displayed photos and videos of Kim's major "achievements of immortal leadership" since his pledge to build a responsible nuclear weapons state at a congress of the ruling Workers' Party in May 2016, the official Korean Central News Agency (KCNA) said.



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

Koreans set to get a year younger as Yoon seeks to ditch ‘Korean age’

The transition committee for President-elect Yoon Suk-yeol said Monday that it would amend laws to use international age instead of “Korean age” to reduce social and economic costs associated with allowing more than one way to count age. Under the Korean age system, Koreans are 1 year old at birth, and they get a year older on New Year’s Day regardless of their birth date. The system is widely used, though official records usually follow the international norm that starts at zero and counts the number of years since birth.


NATO seeks ‘sustained’ military exchanges, ‘substantive’ defense cooperation with S.Korea

The North Atlantic Treaty Organization seeks to enhance security cooperation with South Korea through “sustained” military exchanges, the chairman of its top military body said Monday, underscoring the significance of “substantive” defense cooperation. NATO Military Committee Chair Adm. Rob Bauer made a rare trip to South Korea and held respective talks with South Korea’s Joint Chiefs of Staff Chairman Gen. Won In-choul and Defense Minister Suh Wook. The visit by the NATO Military Committee chief to the country marks only the second time, following the first such trip by then-Chairman Petr Pavel in May 2016.


Chief prosecutor willing to risk job to protect investigative powers

South Korea’s chief prosecutor vowed to concentrate all efforts to protect the investigative power of the prosecution on Monday, as the Democratic Party of Korea looks to pass a contested bill that would remove all investigative powers from the prosecution. Prosecutor General Kim Oh-soo said in a meeting of senior prosecutors at the Supreme Prosecutors’ Office in Seoul on Monday that he would put his job and career on the line to stop the bill. The meeting was attended by heads of 18 district prosecutor’s offices across the country and three chief figures of the prosecution including Kim.




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

Yoon's economic team tasked with juggling growth, inflation

President-elect Yoon Suk-yeol's economic team led by Choo Kyung-ho, his nominee for deputy prime minister for economic affairs, faces a tricky job of effectively juggling both growth and inflation as the Korean economy reels from the fallout of the COVID-19 pandemic amid soaring prices. The trickiest part is to come up with policies that can inject new vigor into the sluggish economy, while stabilizing real estate markets underpinned by a heap of debt, and keeping consumer prices under control. Regarding the people's livelihood, President-elect Yoon wants to increase government spending by up to 50 trillion won ($40.5 billion) to support pandemic-stricken small businesses, but at the same time, wants to curb soaring inflation that requires a tightening of monetary policy.


Yoon's selection of Cabinet members faces mixed outlook

President-elect Yoon Suk-yeol has announced the first round of his Cabinet member picks, mostly from a group of people who helped his presidential campaign. Yoon said he chose the nominees based on their capabilities and expertise. But he also faces criticism for failing to reflect more diversity in the gender, birthplace and age of the nominees. According to Yoon's aides, the average age of eight ministerial nominees announced Sunday was 60.5, with three being in their 50s and five being in their 60s. None were in their 20s or 30s and only one woman ― gender equality minister nominee Kim Hyun-sook ― was included in the announcements.


US will supply Ukraine with 'the weapons it needs' against Russia

The United States is committed to providing Ukraine with "the weapons it needs" to defend itself against Russia, U.S. national security adviser Jake Sullivan said on Sunday as Ukraine seeks more military aid from the West. Sullivan said the Biden administration will send more weapons to Ukraine to prevent Russia from seizing more territory and targeting civilians, attacks that Washington has labeled war crimes. "We're going to get Ukraine the weapons it needs to beat back the Russians to stop them from taking more cities and towns where they commit these crimes," Sullivan said on ABC News' "This Week".



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


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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.

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