Headline, May 11, 2022
Headline, May 11, 2022
  • Lee Kyung-sik
  • 승인 2022.05.11 09:20
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Wednesday, May 11, 2022
Round-up of important news from major Korean dailies and from international media today

The Korea Post ( www.koreapost.com )

We will rebuild a country where the people are the true masters”
In his address for the 20th President's inauguration ceremony held at the National Assembly on May 10, President Yoon Suk-yeol said, "Based on liberal democracy and a market economy, we will rebuild a country where the people are the true masters." He said, "I am standing here today with the calling of the times to make the country a nation that fulfills its responsibilities and roles in the international community. Thank you to all the people who have been with me on this historic occasion,”


Maruti Suzuki, Hero Moto Corp, Tata Cummins receive incentives
A proposed investment of Rs 29,834 crore is expected from the 75 approved applicants under the Component Champion Incentive Scheme. Maruti Suzuki, Hero MotoCorp, Lucas-TVS, Tata Cummins, and Toyota Kirloskar Auto Parts are among the 75 firms approved for receiving incentives under the Production Linked Incentive (PLI) scheme for the automobile and auto components sector, the government said on Tuesday. A proposed investment of Rs 29,834 crore is expected from the 75 approved applicants under the Component Champion Incentive Scheme.

Perrier-Jouët launches ‘Perrier-Jouët Blanc de Blancs’

Pernod Ricard Korea's champagne brand, Perrier-Jouët, which crafts nature into art, is launching ‘Perrier-Jouët Blanc de Blancs’ and ‘Perrier-Jouët Belle Epoque Blanc de Blancs 2012 Vintage’. Made with 100% premium Chardonnay, the cuvée boasts enticing notes and exceptional aromas. Since its foundation in 1811, Perrier-Jouët has offered champagne expressing delicate floral aromas with Chardonnay as its signature grape variety. The champagne house Perrier-Jouët, which values quality, maintains a minimum aging period of three years, which is twice the typical champagne aging standard.




Chosun Ilbo (http://english.chosun.com)
Moon Bids Farewell to 'Heavy Burden' of Presidency

President Moon Jae-in marked the end of his single, five-year term in office on Monday with a speech touting the achievements of his administration. Moon heads to his retirement home in South Gyeongsang Province after attending President Yoon Seok-youl's inauguration ceremony on Tuesday. Telling reporters that he "unloads a heavy burden," Moon urged the new administration to "continue the successful history" of the country. He also voiced his hope that Yoon will "take on and develop the accumulated achievements of past governments."

COVID Likely to Linger Until Autumn
Daily coronavirus cases have been increasing again as most lockdown restrictions were lifted before the long weekend last week. On Tuesday morning the daily tally stood at 49,933 cases, up from around 20,000 last week. "COVID infections will continue for a considerable period of time," said Son Young-rae of the Health Ministry. "Probably until autumn."  Some experts fear anther surge now that caution is being thrown to the wind. "People have let their guard down as nearly all lockdown restrictions were lifted," said Kim Woo-joo at Korea University Guro Hospital. "It's likely that another wave will begin in late May or early June, when vaccine immunity starts to wane."

Korea Inaugurates New President
Around 41,000 people assembled for President Yoon Seok-youl's inauguration ceremony at 11 a.m. Tuesday in front of the National Assembly. They included outgoing president Moon Jae-in, former first lady Kim Jung-sook and Chinese Vice President Wang Qishan. Yoon's presidential tenure already started when he was briefed about military readiness in Yongsan, Seoul at midnight on Tuesday. In the morning he left his home in Seocho-dong with first lady Kim Keon-hee and stopped by the Seoul National Cemetery before heading to the National Assembly. The couple then walked 180 m from the entrance to the stage and shook hands with citizens.


Joongang Ilbo (https://koreajoongangdaily.joins.com )

With bell ringing and midnight briefing, Yoon Suk-yeol becomes Korea's 20th president
Yoon Suk-yeol was sworn in as Korea's president Tuesday, promising to uphold the principles of liberal democracy and to build a "nation that truly belongs to the people." He also announced a new program of incentives to get North Korea to denuclearize. Yoon began his duties as president with a briefing at midnight in an underground bunker of the new presidential office building in Yongsan District, central Seoul. His official inauguration ceremony began at 11 a.m. at the plaza in front of National Assembly in Yeouido, western Seoul, and was attended by some 41,000 people including former presidents, lawmakers, government officials, foreign dignitaries and representatives of all walks of life.


People storm Blue House, but in a celebratory way
Strolling outside the presidential residence in the Blue House complex Tuesday, Gu Hee-suk was filled with awe. Everything felt surreal.This garden is amazing,” the 58-year-old gasped. “Our former presidents had all this space to themselves! No wonder they didn’t want to leave.” Gu, who had traveled all the way from Pohang, North Gyeongsang, 272 kilometers (169 miles) southeast of Seoul, was among some 26,000 selected applicants who toured the Blue House compound in Jongno District, central Seoul on Tuesday, hours after Yoon Suk-yeol was sworn into office. The front gates swung open at 11:37 a.m., minutes before the conclusion of Yoon’s inauguration in Yeouido, western Seoul.


Korea's dominance in semiconductors must grow, says Yoon
Yoon Suk-yeol was in a helicopter en route to a meeting with American military brass at Camp Humphreys last month when he proposed an unplanned detour. As the chopper reached Pyeongtaek, some 40 miles south of Seoul, the president-elect proposed a fly-by of Samsung Electronics’ main semiconductor facility. It’s an enormous complex, best seen from the clouds. At 2.9 million square meters, it is the size of 400 soccer stadiums combined. The prosecutor-turned-politician marveled at what he described as “the pride of Korea” and “the heart of the global semiconductor industry.”



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

South Korea tops world list of shipbuilding backorders
South Korea’s shipbuilding industry has been delivering good performance, recording backlog orders of up to 688 ships for the last six years. According to Clarksons Research, a British research company for global shipbuilding services, Korea topped the list for accumulated backlog for the first four months of this year at 5.81 million CGT, surpassing China (at 5.80 million CGT). South Korea’s market share during this period jumped 11 percentage points to 45.9% from April 2021. Backlog orders for April alone, however, show that China was higher at 1.54 million CGT compared to South Korea at 820,000 CGT. Global shiplog orders in April was 2.51 million CGT, 36% lower than the previous month.


Greenhouse gas emissions from households increase during pandemic
With people spending more time at home during the COVID-19 pandemic, the amount of greenhouse gases released from households in Seoul has increased over the past two years. The Seoul Metropolitan Government on Tuesday announced the result of its greenhouse gas inventory. According to the data, the estimated amount of greenhouse gas emissions in Seoul last year was 45.462 million tons, down 8.1 percent from that of 2005, when the city declared it would reduce greenhouse gas emissions, and 0.3 percent from that of last year. Since 2005, greenhouse gas emissions in Seoul have decreased by an average of 0.5 percent annually. Emissions from transport, industry and power sectors have reduced in particular.


Enterprises want Yoon administration to put labor regulation on high priority
Businesses want the new administration to put ‘labor regulation’ on high priority among many other reform tasks, according to a survey. Economic organizations also emphasized the need for regulatory reform, such as labor regulation ahead of the inauguration of President-elect Yoon Suk-yeol. The Federation of Korean Industries (FKI) said on Monday that in a survey of 250 large and 250 small and medium-sized enterprises, asking which reform task should be the top priority for the next administration, 25.2 percent of the respondents chose ‘labor regulation’ followed by ‘environment and energy (15.9%),’ ‘large enterprises (14.1%),’ and ‘construction and architecture (13.5%).’




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

S. Korea’s 20th president stresses freedom and alliance as he opens Yongsan presidency
South Korean president Yoon Suk-yeol vowed to strengthen the pillars of free democracy and market economy and exercise greater responsibility to the global community as he was sworn in as the 20th president Tuesday setting a new precedent through a new presidential base in Yongsan, central Seoul, instead of the Blue House that served as the residence and office for the state of head since founding. His inauguration speech delivered live at the National Assembly on Tuesday morning themed on freedom, civilian rights, fairness, and alliance.”


Blessing for Korean full-service air monopoly may not be easy
State-arranged marriage of Korean Air Lines and Asiana Airlines to create a monopoly in full-services air transport could flop like the deal to create world’s largest shipbuilder in the face of growing protectionism on global trade order. The Korean Air-Asiana merger requires endorsement from antitrust regulators of the U.S., the European Union, China, Japan, the U.K. and Australia. An approval is essential from four primary markets of U.S., the EU, China and Japan. If any one of them opposes, the M&A goes down the drain. China, the U.S. and the EU are the biggest worry.


Kia shares up on reports of adding EV plant in Georgia
Shares of Kia Corp. survived the overall Korean stock crash Tuesday upon foreign media reports of Hyundai Motor Group poised to add an electric vehicle-dedicated manufacturing plant in Georgia in the second facility investment in the U.S. state upon confirming strong response to its EVs. Hyundai Motor shares closed 0.55 percent lower at 180,500 won ($141.41) on Tuesday amid broad retreat in the Korean stock market on stagflation scare in the U.S. as well as Korea. Kia shares added 1.82 percent to end at 84,100 won.




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

Now in office, Yoon’s first task is to unite a polarized S. Korea
On Tuesday, President Yoon Suk-yeol began his five-year term after being sworn in at the National Assembly. A former prosecutor general with no political experience, Yoon flipped the presidency after five years of Democratic Party rule, and the prospect of his administration has generated both anticipation and concern among the public. Figures in the circles of politics, economics, social affairs, and culture are pointing to national unity as the task Yoon should prioritize first and foremost as president. The first presidential task Yoon performed after taking office as of the beginning of the day Tuesday was receiving a report from the Joint Chiefs of Staff at the national emergency management center at his presidential office in the Yongsan District of Seoul.


Moon calls on new president to heal divided nation in farewell address
Moon Jae-in, who finished his five-year term as president of South Korea on Monday, shared a final message appealing to incoming President Yoon Suk-yeol with a call for unity. In a farewell speech delivered at the main building of the Blue House that day, Moon said, “The most important thing is to unite the public’s hearts.”When we fill the divide of conflict that deepened during the election campaign and proceed on a path toward popular unity, the Republic of Korea will proceed more vigorously on a path toward true success,” he declared.

Marking end of Blue House era, Yoon makes first commute to Yongsan office

President Yoon Suk-yeol officially commenced his duties as the nation’s leader as he received a report from the Joint Chiefs of Staff at the newly established national emergency management center at the presidential office in Seoul’s Yongsan District at 00:00 am on Tuesday. The move was a symbolic one suggesting that Yoon, as South Korea’s new president, was transferred military leadership without a hitch, as his abrupt push to relocate the presidential office out of the Blue House stirred concerns regarding gaps in national security. Yoon will commute to Yongsan from the Seocho neighborhood of Seoul for the first 30 to 40 days of his term while the official residence of the foreign minister in the Hannam neighborhood continues to be remodeled.




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

Opening the Yongsan Era: Yoon Suk-yeol’s First Official Task, Receiving a Report in the Underground Bunker in Yongsan
President Yoon Suk-yeol (Yoon Seok-youl) began his term in office as the twentieth president of the Republic of Korea on midnight May 10. This day, President Yoon began his official duties by receiving a report from the Joint Chiefs of Staff in the situation room of the national crisis management center, an underground bunker located under the presidential office in Yongsan, Seoul. Receiving a Joint Chiefs of Staff report as the first presidential task has a symbolic meaning for it means that the new president will exercise the prerogative of supreme command by receiving a report on the military’s status and readiness through a communications network for national command first and foremost.


President Moon’s Final Request, “Continue and Integrate the Achievements of Previous Governments”
President Moon Jae-in left Cheongwadae surrounded by over 10,000 cheering citizens on the evening of May 9, his last day in office. He finally “got off work” 1,826 days after he was inaugurated on May 10, 2017. President Moon, who is likely to be the last president to reside in Cheongwadae, spent the previous night in Cheongwadae and this morning visited the Seoul National Cemetery in Dongjak-gu, Seoul and the graves of independence fighters in Hyochang Park in Yongsan-gu, Seoul along with first lady Kim Jung-sook. The president returned to Cheongwadae, and at 10 a.m. he calmly practiced the speech, “Dedication to the Great People,” which he had prepared for this day, in the lobby of the main building for twelve minutes.


Yoon Seok-youl’s Approval Rating Reaches a New High since the Second Week of April at 51.4%
On May 9, a poll showed that President-elect Yoon Seok-youl’s approval rating exceeded 50%. The polling firm, Realmeter conducted a survey on May 2-4 and May 6, and according to the 4-day nationwide survey of 2,014 people ages 18 and older, President-elect Yoon’s approval rating recorded 51.4%, while 44.6% disapproved of his handling of state affairs. This was the first time that Yoon’s approval rating surpassed 50% in three weeks, since the second week of April (51.0%), and it was also the highest since shortly after he was elected the twentieth president in the second week of March (52.7%). The daily approval rating on Yoon’s handling of state affairs was highest on May 4 at 53.7%, the highest since April 5, but it dropped 3.3% to 50.4% on May 6.




Xi Invites Yoon to Visit China
Chinese President Xi Jinping has invited President Yoon Suk Yeol to visit China at a mutually convenient time. Chinese Vice President Wang Qishan extended the invitation during a meeting with Yoon on Tuesday at the new presidential office in Yongsan in Seoul. Wang, considered one of the closest aides to Xi, is visiting South Korea to attend Yoon's inauguration ceremony as Xi's special envoy. Wang told Yoon through an interpreter that President Xi told him to attend Yoon's inauguration ceremony on his behalf and to convey his hopes that South Korea will prosper and flourish under Yoon's leadership.


State Dept.: Denuclearization of Peninsula is Common Objective of S. Korea, US
The U.S. State Department has reaffirmed United States' commitment to close coordination with the new South Korean government of President Yoon Suk Yeol, stressing that denuclearization of the Korean Peninsula is the common objective of Seoul and Washington. Department spokesperson Ned Price issued the position on Tuesday during a press briefing when asked to comment on Yoon's remarks on North Korea during his inauguration speech. Yoon said in the speech on Tuesday that if North Korea takes the path toward substantial denuclearization, South Korea is prepared to present an audacious plan to strengthen the North's economy.


S. Korea Adds 865,000 Jobs in April, Biggest On-year Growth in 22 Years
South Korea posted the biggest job growth in 22 years for the month of April by adding more than 860-thousand jobs. Statistics Korea said on Wednesday that the number of employed people totaled nearly 28-point-08 million last month, up 865-thousand from a year earlier. It marks the largest on-year increase for the month of April since 2000, when more than one million jobs were added. April marks the 14th straight month the nation has posted on-year job growth. More than one million jobs were added in January and February, with the growth slowing to about 830-thousand in March.



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

Yoon champions freedom, offers to revive N.K. economy with 'audacious plan'
President Yoon Suk-yeol took the oath of office Tuesday, vowing to rebuild the nation on the foundation of a liberal democracy and market economy and offering to revive North Korea's economy with an "audacious plan" should it take steps to denuclearize. In his inauguration address at the National Assembly Plaza, Yoon outlined various challenges facing the country and the world from pandemics and rearrangements in global supply chains to record-low growth and rising unemployment.


Xi invites Yoon to visit China at convenient time

"President Xi Jinping told me specially to attend the president's inauguration ceremony on his behalf and to wish that your country develop, be peaceful and your people be comfortable under your leadership," he added. Yoon welcomed the Chinese delegation's visit to Seoul to attend his inauguration and expressed his thanks for Xi's letter and phone call following his election victory. Wang handed Yoon another letter from Xi and noted that the two leaders spoke by phone again Tuesday. A presidential official later clarified that there was no additional call after Yoon and Xi spoke in March.


Gov't to submit extra budget bill to National Assembly this week: finance minister
The government has drawn up an extra budget bill aimed at compensating pandemic-hit small merchants and will submit it to the National Assembly later this week, Finance Minister Choo Kyung-ho said Wednesday. Choo made the remarks at the first consultative meeting between the ruling People Power Party (PPP) and the government, a day after President Yoon Suk-yeol took office. Choo said the extra budget plan is mainly aimed at compensating financial damage of pandemic-hit small merchants and stabilizing prices for vulnerable people.



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

Yoon begins term in time of changing world order, rising tension from Pyongyang
South Korea’s new president, Yoon Suk-yeol, begins his term with more difficult challenges on the diplomacy and security fronts amid the fast-changing world order and increasing North Korean threats. As a conservative, Yoon has presented a foreign policy that would reorient the country toward closer ties with the United States, and take a hard-line approach in dealing with North Korea and its missile provocations -- shifting the course from the one that his liberal predecessor, Moon Jae-in, took.


Yoon stresses freedom, growth as he begins 5-year term
President Yoon Suk-yeol prioritized liberal democracy and market economy, believing freedom and rapid growth can resolve the multiple challenges the nation faces in his inaugural address on Tuesday. He also pledged to strengthen North Korea’s economy if it embarks on the denuclearization process. The inauguration ceremony was held at the National Assembly at 11 a.m. and had around 41,000 people in attendance, including former presidents and the family members of deceased former leaders, parliamentary and government officials, diplomatic envoys and the invited public.

President Yoon begins term with fist bumps

President Yoon Suk-yeol was sworn into office Tuesday with the kind of large inauguration ceremony that his predecessor missed out on. The event was held at the National Assembly, with some 41,000 people in attendance, including former President Moon Jae-in and his wife Kim Jung-sook, former President Park Geun-hye, officials from the government and National Assembly, diplomatic delegations and more. After paying his respects at Seoul National Cemetery in the morning, Yoon arrived at the National Assembly, greeting the people, backed by the music from the Seoul Philharmonic Orchestra and Heart to Heart Orchestra, consisting of members with developmental disabilities.



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

No honeymoon for Yoon as opposition party dominates National Assembly
A tough road lies ahead for President Yoon Suk-yeol, who is set to clash over practically every issue with the main opposition Democratic Party of Korea (DPK) that controls 171 seats out of the 300-member National Assembly. The ongoing confirmation hearings of Yoon's picks for Cabinet minister nominees show clearly that there is no honeymoon for the new, conservative government. The DPK is demanding that several Cabinet ministers, including Justice Minister nominee Han Dong-hoon, quit, saying they are unqualified or unethical for the jobs. Yoon is already facing difficulties in appointing his prime minister.


300 foreign guests attend Yoon's inauguration ceremony
High-profile foreign dignitaries from key neighboring countries, headlined by the Chinese vice president and the spouse of the U.S. vice president, attended President Yoon Suk-yeol's inauguration, Tuesday. According to Yoon's presidential office, some 300 foreign dignitaries, including 143 foreign envoys to Korea, were present at his inauguration ceremony that took place at the National Assembly Plaza. The most notable attendee seated behind Yoon on the podium was Chinese Vice President Wang Qishan.


Xi Jinping invites Yoon to visit China
Chinese President Xi Jinping invited President Yoon Suk-yeol to China "at a time of convenience" for both sides, as well as asking Seoul to strengthen its ties with Beijing amid the escalating rivalry between the U.S. and China. Yoon has been stressing the importance of the South Korea-U.S. alliance throughout his 10-month-long political career, while criticizing his predecessor Moon Jae-in's "strategic ambivalence" between the two superpowers. The invitation and the proposal for stronger Seoul-Beijing ties put Yoon, who started his presidency on Tuesday, in a difficult position.



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!
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with the following five news outlets, 37 years old this year!

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

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