Thursday, July 21, 2022
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
“Korea has huge potential for cooperation with Angola in textile, steel, car, shipbuilding, electronics, many more”
Chairman Antonio Henriques da Silva of the Agency for Private Investment and Exports Promotion of the Republic of Angola said, “The Republic of Korea has a robust industrial sector such as textile, steel, car manufacturing, shipbuilding and electronics.” Speaking at a recent interview with The Korea Post the Embassy of Angola in Seoul in the presence of Ambassador Edgar Gaspar Martins, Chairman Silva added, “Angola is a growing hub in the subregion, and establishing industries in Angola serves as a preferred gateway to southern Africa with the competitive advantage such as geographic location for trade,~
Chambers of parliament of Uzbekistan adopt joint decision to form commission
On July 15, 2022, a joint meeting of the Kengashes of the Legislative Chamber and the Senate of the Oliy Majlis of the Republic of Uzbekistan was held in Tashkent. At the joint meeting, the appeal of the Authorized Person of the Oliy Majlis of the Republic of Uzbekistan for Human Rights (Ombudsman) on the issue of ensuring human rights and freedoms in the Republic of Karakalpakstan was considered. At the meeting, a joint resolution of the Kengashes of the chambers of the Oliy Majlis was adopted on the formation of a Commission to study the facts and events that occurred in the Republic of Karakalpakstan in July 2022 and conduct an independent investigation on them.
World Punggi Ginseng EXPO to hold a launching ceremony
World Punggi Ginseng EXPO, Yeongju, Korea 2022 Organizing Committee said that it will hold the launching ceremony of the Pan-City Citizens' Support Council for the Ginseng Expo on July 19. More than 500 people, including Mayor of Yeongju Park Nam-seo and Governor of Gyeongsangbuk-do Lee Chul-woo, officials of the Ginseng Expo Organizing Committee, and members of the pan-city civic support council, will attend the event to be held at Magpie Hall of Yeongju Cultural Art Building.
Chosun Ilbo (http://english.chosun.com)
Homegrown Supersonic Fighter Passes Test with Flying Colors
Korea's first homegrown supersonic fighter, the KF-21 or Boramae, successfully finished its 33-minute maiden flight on Tuesday afternoon. It took 21 years and four months since the government announced the plan to develop a Korean fighter jet. The KF-21 is equipped with an electronically scanned array radar system and even some stealth functions.
Gov't Names 1st N.Korea Human Rights Envoy in 5 Years
The government on Tuesday appointed Prof. Lee Shin-wha (57) of Korea University as North Korea human rights ambassador on Tuesday, filling a position that has been vacant for five years. The presidential office also announced a plan to launch a North Korea human rights foundation, a project that has been adrift for six years.
Experts Debate the Future of Crypto, NFTs and the Metaverse
Industry experts varied widely in their assessment of this year's crypto crash as well as the dubious future of NFTs and the metaverse at this year's Asian Leadership Conference in Seoul last week. Some are optimistic that the bubble has not burst at all. Lee Sin-hae, a partner at crypto fund GBIC, claimed the current bear market is no reason to worry about the long-term viability of blockchain projects.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
Chip 4 deadline from U.S. rattles a Korea still on the fence
Korea is stuck between China and the United States when it comes to chips, and sitting on the fence is becoming more difficult by the day. Washington gave Seoul an end-of-August deadline, according to local media reports, to join a semiconductor alliance with the United States, Japan and Taiwan. In the alliance, which has become known as Chip 4 in Korea, the countries will share plans for chip investment, production and supply-chain management.
Top Saudi envoy visits Yoon, foreign minister
President Yoon Suk-yeol and Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al Saud discussed energy issues including nuclear power and green hydrogen in Seoul on Wednesday, said the presidential office. Highlighting the 60th anniversary of diplomatic relations this year, Yoon expressed hopes for deeper cooperation on nuclear power, infrastructure, culture and people-to-people exchanges, according to his office on Wednesday.
Food business to be transformed with huge investment
Almost a trillion won will be committed to fortifying Korea's restaurant businesses as regulations are lifted to support food and beverage developments. Robots are part of the plan. Foreigners with Korean ancestors will get visas easier in order to help restaurants with staffing. The Ministry of Agriculture, Food and Rural Affairs on Wednesday said the goal is to help establish at least 10 unicorn food-tech startups, five restaurant companies with annual revenue of over 1 trillion won and 5,000 locations abroad.
The Dong-A Ilbo (http://english.donga.com/)
WHO: Covid cases tripled across Europe in the past six weeks
The World Health Organization (WHO) announced on Tuesday that the number of COVID-19 cases has tripled across Europe in the past six weeks. The coronavirus is killing around 3,000 people every week. Some expressed concerns that the resurgence of COVID-19 is only set to get worse in the autumn and winter months.“Omicron subvariants, Stealth Omicron (BA.2) and BA.5, are going to widespread rapidly across the 53 countries in its European region,” said Dr. Hans Henri Kluge, WHO Regional Director for Europe.
ROK-U.S. to resume joint military drills in five years
It is reported that Ulchi Freedom Shield (UFS) is considered the most prominent new name for the ROK-U.S. joint military exercise scheduled for August, the first since the inauguration of the Yoon Suk-yeol administration. The Key Resolve (KR), Foal Eagle (FE), and Ulchi Freedom Guardian (UFG), whose name would be changed into Ulchi Freedom Shield, are the three major joint military drills between the two countries.
Bigger interest rate hikes to be on the table for Europe and UK
Following multiple countries in the world including South Korea and the U.S., Europe which was hesitant about raising interest rate, will take part in currency tightening. Some even foresee possibilities of big interest hikes or a “big step.” If Europe increases its interest rate, it will be an increase in 11 years since the Southern European financial crisis in 2011. According to the foreign press including the Financial Times (FT) as of July 20, the European Central Bank (ECB) seems almost certain to raise the base rate in its July 21 Monetary Policy Meeting.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korea mulls U.S.-led exclusive grouping on chips amid China’s opposition
The South Korean government is mulling over whether to participate in a Washington-led China-free semiconductor supply dubbed the ‘Chip 4’ alliance that includes South Korea, Taiwan, and Japan. While it plans to decide before the end of August, the deadline suggested by the U.S. government, Korean major chipmakers Samsung Electronics and SK hynix are in a complicated dilemma as a chunk of their sales come from China which is uncomfortable with the move.
Unionized metal workers vote for strike in unity with DSME subcontractors
Members of the Korean Metal Workers’ Union (KMWU) under the militant Korean Confederation of Trade Unions (KCTU) Wednesday voted for a nationwide strike to warn against its potential use of force to break up a month-long sit-down demo by subcontract workers at the world’s largest dockyard of state-owned Daewoo Shipbuilding & Marine Engineering Co.
Special pardon on Samsung chief remains unclear
Much remains unclear about whether South Korean President Yoon Suk-yeol would grant a special pardon to Samsung Group chief Jay Y. Lee for his bribery and embezzlement convictions, as the president has still minced his words. “Since the past, it has been a principle to make no mention at all on the issue of pardons, such as to what extent it will be carried out,”
HanKyoReh Shinmun (http://english.hani.co.kr)
Specter of crackdown looms over strike for livable working conditions at Korean shipyard
Two of the most powerful law enforcement figures in South Korea appeared in the troubled skies above the Okpo shipyard of Daewoo Shipbuilding & Marine Engineering on Geoje Island, southwestern Korea, on Tuesday afternoon.A helicopter carrying Minister of the Interior and Safety Lee Sang-min and Yoon Hee-keun, who has been tapped to serve as commissioner general of the National Police Agency,
Top S. Korean diplomat meets Kishida, conveys message of Yoon’s trust
Meeting with Japanese Prime Minister Fumio Kishida at his official residence in Tokyo on Tuesday afternoon, South Korean Minister of Foreign Affairs Park Jin conveyed President Yoon Suk-yeol’s strong commitment to improving bilateral relations.Speaking with reporters after a 20-minute meeting with Kishida that had begun at 2:15 pm that day, Park said he had “relayed a message from President Yoon to Prime Minister Kishida.”
Abe’s death poses hurdles for mending S. Korea-Japan ties, Japanese press reports
The death of former Japanese Prime Minister Shinzo Abe, who had been a lodestar for conservatives and the right wing within Japan’s Liberal Democratic Party (LDP), has made it even harder for Prime Minister Fumio Kishida to reach a compromise with South Korea over historical issues, according to analysis in the Japanese press.“Abe had shepherded the party’s conservatives in support of the Kishida administration. Depending on [Kishida’s] actions going forward, the conservative wing could turn their backs on him in an instant,” said a veteran lawmaker in the LDP’s conservative wing.
The KyungHyangShinmun (http://english.khan.co.kr/)
“We’ve Waited Long Enough,” President Yoon’s Stance on Sending Law Enforcement Officers to Daewoo Shipbuilding
On July 19, President Yoon Suk-yeol spoke on the strike by the employees of in-house subcontractors at Daewoo Shipbuilding and Marine Engineering and asked, “Hasn’t the people and the government waited long enough?” This day, President Yoon met with reporters on his way to work at the presidential office in Yongsan and when a reporter asked if he was considering dispatching law enforcement officers, he said, “Irregularities cannot be tolerated or neglected in industrial sites and in labor-management relations.”
1.4 Million People Spend 70% of Their Annual Income to Repay Debt: People Who “Sold Their Souls” at Risk
Heavy borrowers who spend more than 70% of their annual income on paying off their debt are emerging as a risk factor that could turn household debt into bad debt. The Bank of Korea recently raised the base interest rate. When this forces these borrowers to shoulder higher interest rates, they may not be able to repay their loans and end up being forced to sell their property. According to the Financial Supervisory Service on July 18,
Chang Je-won Claims, “Kweon Seong-dong Never Pressured Me to Hire Anyone”
On July 18, People Power Party lawmaker Chang Je-won spoke on the controversial hiring of Woo, a grade-9 administrative official in the Office of the Senior Secretary for Social Affairs in the presidential office and said, “I have never been pressured by Kweon Seong-dong in any way. He only made a recommendation.” This day, Chang wrote on social media, “As for the acting party leader and floor leader Kweon Seong-dong’s comments on the personnel decisions by the Office of the President, I think I should speak as the person in charge of personnel affairs at the time,” and gave the explanation.
KBS(http://world.kbs.co.kr/service)
S. Korea Attends US-hosted Virtual Forum on Global Supply Chains
South Korea attended a U.S.-hosted ministerial forum to discuss cooperation on the issue of global supply chains. South Korea and 17 other partner economies wrapped up the two-day 2022 Supply Chain Ministerial Forum led by Washington on Wednesday with the adoption of a joint statement. Seoul's foreign ministry said foreign minister Park Jin and trade minister Ahn Duk-geun participated in the video-linked forum co-hosted by Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo.
Daewoo Shipbuilding, Striking Workers Fail to Reach Agreement, Plan to Resume Talks
Subcontract workers at Daewoo Shipbuilding and Marine Engineering failed to reach an agreement in negotiations with management on Wednesday. The two sides resumed talks at 11 a.m. on Wednesday, but announced that the negotiations were suspended after marathon talks that lasted for over 12 hours failed to yield a breakthrough. The two sides were reportedly unable to come to an understanding on a lawsuit by management seeking compensation for losses and damages caused by the prolonged strike.
N. Korea Claims New Fever Cases Fall Below 200
North Korea claimed that its fever-related daily cases suspected to be COVID-19 fell below 200 for the first time. The North's official Korean Central News Agency(KCNA) reported on Thursday that around 170 new fever-related patients were confirmed in the 24-hour period leading up to 6 p.m. Wednesday nationwide. Quoting the nation's state emergency epidemic prevention headquarters, the KCNA said that about 300 patients recovered during the same period.
Yonhap (http://english.yonhapnews.co.kr)
Justice ministry found no legal grounds before repatriation of N.K. fishermen in 2019
Just before South Korea repatriated two North Korean fishermen in 2019, the justice ministry reviewed its legality and found no legal grounds to send them back to North Korea, the ministry said Wednesday. The revelation is expected to further fuel criticism that the previous administration of President Moon Jae-in deported the North Koreans even though it knew there was no legal ground to do so after they expressed a desire to defect to South Korea.
ADB cuts 2022 growth outlook for S. Korean economy to 2.6 pct
The Asian Development Bank (ADB) on Thursday slashed its 2022 growth outlook for the South Korean economy to 2.6 percent amid the ongoing Ukraine crisis and aggressive monetary tightening by major countries. The latest estimate by the Manila-based bank is lower than the 3 percent growth forecast made in April. The ADB, however, maintained its earlier forecast of the country's 2.6 percent growth for next year.
Prosecutors raid cryptocurrency exchanges in probe into Terraform crash
Prosecutors raided seven local cryptocurrency exchanges on Wednesday as part of an investigation into a fraud case in connection with the collapse of Terraform Labs' digital coins, TerraUSD and Luna, officials said. A team of investigators from the Seoul Southern District Prosecutors Office began seizing transaction records and other materials from Upbit, Bithumb, Coinone and four other local exchanges around 5:30 p.m., they said.
The Korea Herald (http://www.koreaherald.com)
Spy chief visits US, expected to discuss NK nuclear tests
South Korea’s National Intelligence Service Director Kim Kyou-hyun is in the US for an unofficial visit, amid the possibility of North Korea’s seventh nuclear test. He is expected to discuss issues related to Pyongyang’s provocations and recent controversies over the repatriation of North Korean fishermen with US top intelligence officials.
Democratic Party slams Yoon administration for early missteps
The National Assembly’s official proceedings kicked off Wednesday, with the familiar sound of the two main parties accusing each other of failing the people. South Korea’s main opposition Democratic Party of Korea heavily criticized the Yoon Suk-yeol administration for its controversial personnel decisions while denouncing the government for abusing its power for political purposes.
South Korea downgraded to Tier 2 in US human trafficking report
South Korea was downgraded in a US annual human trafficking report by a tier for the first time in 20 years. As the US State Department report pointed out, Korea did not “fully” meet the minimum standards for the elimination of trafficking. Seoul said it would review its past year’s effort and work to provide explanations if necessary. Although Seoul authorities have made no official assessment of the downgrade, officials have reportedly hinted at insufficient communications regarding the issue between Seoul and Washington last year as a possible factor in the change.
The Korea Times (http://www.koreatimes.co.kr)
How Christianity and LGBTQ rights meet in two religious leaders' mission
Seoul Queer Culture Festival (SQCF) traces its history back to 2000, when less than 100 members of the LGBTQ community first gathered in solidarity in the central Seoul neighborhood of Daehangno for a few rainy days in September. While the annual festival has grown significantly in size since then ― relocating eventually to Seoul Plaza in front of City Hall in 2015 ― so have the rallies led by conservative Christian groups in protest of the event.
Busan officials hone English skills for World Expo 2030
Not being fluent in English might not mean the end of the world. But for those representing a city with an unprecedented bid to host a mega-scale international event in less than eight years, it could be a shame. It's a concern of the officials of Busan, which is betting on being selected a host city for World Expo 2030 in Paris next year. They rolled up their sleeves last year to campaign for the bid, having pulled off two preliminary rounds of self-promotional presentations in front of the more than 160 member states of the Bureau International des Expositions
Korea needs to be cautious about joining 'Chip 4' alliance: ICT minister
Korea should take a careful approach in deciding whether to join the United States-led semiconductor supply chain alliance, called the "Chip 4" alliance, taking its costs and benefits into consideration, the ICT minister said, Wednesday. "In the end, whether to join or not should be judged on if it's in Korea's national interest. Though it is an issue in the semiconductor industry, joining could affect other industries as well. We need to be careful about that.
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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
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
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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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