Thursday, September 29, 2022


Round-up of important news from major Korean dailies and from international media today

 

The Korea Post ( www.koreapost.com )

I would like to praise the strategic, friendly, cooperative relations between Saudi Arabia and Korea!”
Ambassador Sami M. Alsadhan of the Kingdom of Saudi Arabia in Seoul said, “Taking this opportunity, I would like to praise the strategic, friendly, and cooperative relations between the Kingdom of Saudi Arabia and the Republic of Korea, which marks the 60th anniversary this year since the establishment of diplomatic ties between the two countries in 1962.” Ambassador Alsadhan made the remarks at a gala reception he hosted at Hotel Shilla in Seoul on Sept. 23, 2022 in celebration of the 92nd National Day of the Kingdom of Saudi Arabia as well as the 60th anniversary of diplomatic relations between Korea and Saudi Arabia.

 

Nigerian artist Nike Okundaye appointed as the Goodwill Amb. for the Busan 2030 World Expo
Ahead of final voting in November 2023 for hosting rights for 2030 World Expo, the Embassy of Republic of Korea in Nigeria has appointed notable Nigerian artist, Ms. Nike Okundaye as a goodwill ambassador to drum up support for the country’s bid to host the global event. The Nigerian iconic artist, Ms. Okundaye is expected to be leading voice for global business and cultural festival to be hosted by port city of Busan, South Korea with the theme: “Transforming Our World, Navigating Toward a Better Future”

 

Independent, neutral Turkmenistan successfully conducts multilateral, integrated foreign policy’
In the Autumn of 1991, Turkmenistan proclaimed itself as an independent state. The independence is valuable for each citizen of Turkmenistan. After gaining its independence, Turkmenistan got the opportunity to freely interact with the rest of the world. The Neutrality of Turkmenistan is inseparably connected with its Independence, since the statehood gave our country the opportunity to implement its independent policy around the world. Thus, Turkmenistan freely expresses its position on any regional or international issues with its full openness.


                                                            


Chosun Ilbo (http://english.chosun.com)
USFK Could Defend Taiwan, Ex-Commander Says

The U.S. Forces Korea could be drawn into a possible emergency in Taiwan, a former commander has admitted. Ex-USFK chief Robert Abrams on Tuesday said American soldiers stationed here "might" be mobilized to defend Taiwan in the event of an invasion by China. The prospects of U.S. military intervention in Taiwan is being mentioned more frequently as tensions mount between Washington and Beijing over the island country, which China considers a renegade province.

 

Hundreds of Chinese Naval Vessels Stray into Korean Waters
No fewer than 260 Chinese naval vessels strayed into Korean-controlled waters last year. The most frequent incursions were into Korea's exclusive economic zone west and south of the country, but there were also intrusions into the East Sea. The EEZ is the area in a certain distance of a country's coastline where a country claims exclusive rights for fishing, drilling and other economic activities. Over the last five years, China has boosted its naval force by 25,000 to 260,000 sailors and added one more aircraft carrier and 16 destroyers. The increasing incursions are seen as a show of force in the region.


Harris Pledges Help over U.S. Tax Breaks for Korean EVs

A silver lining is on the horizon for Korean electric car makers after a new U.S. law stopped state subsidies for EVs made outside North America, threatening their position in the American market. U.S. Vice President Kamala Harris on Tuesday signaled a grace period for Korean EV makers before they are ready to make their cars in America while the U.S. Inflation Reduction Act is being implemented. Harris sat down with Prime Minister Han Duck-soo in Tokyo before attending the state funeral of former Japanese Prime Minister Shinzo Abe. She said Seoul and Washington will continue "

                                                                                      

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

Pyongyang fires two missiles as joint drills take place
North Korea fired two short-range missiles into the East Sea at the same time joint South Korea-U.S. naval exercises were taking place, according to Seoul’s military authorities. According to the Joint Chiefs of Staff (JCS), the first missile was launched from Sunan Airfield near Pyongyang at 6:10 p.m. Wednesday, with the second following at 6:20 p.m. Both were fired from transporter erector launchers, a type of mobile launching platform. The missiles flew approximately 360 kilometers (227 miles) at Mach 6, reaching an altitude of 30 kilometers. 

 

Spat over Yoon's hot mic moment escalates as both sides up the ante
The People Power Party (PPP) said Tuesday it will create a task force to investigate what it called "selective and biased" subtitling of President Yoon Suk-yeol's hot mic moment in New York last week. The PPP's announcement came the same day that the Democratic Party (DP) made clear it would push ahead with plans to punish those in the government it deems at fault for what it has characterized as a gaffe-ridden presidential tour of Britain, the United States and Canada. The dueling plans by the rival parties represent an escalation in the political spat over comments made by Yoon at a fundraiser in New York hosted by U.S. President Joe Biden.

 

Korean embassy in Brussels will be mission to NATO too
NATO approved Korea’s request to designate Seoul’s Embassy in Belgium as its permanent mission to the organization.The Republic of Korea is an active NATO partner,” said the North Atlantic Council on its website. “Since 2005, the Alliance and Seoul have developed a strong partnership, based on shared values.” The announcement followed the first participation by a Korean president at a Nato summit in June, with the leaders of Japan, Australia and New Zealand. Korea and NATO began an official dialogue in 2005.


                                                               
 

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

S. Korea targets to become Top 3 EV producer by 2030
The South Korean government and the automobile industry set a target to raise its market share in the global electric vehicle market to 12 percent by producing 3.3 million electric vehicles by 2030. The country aims to become a Top 3 electric vehicle producer by investing a total of 95 trillion won by 2026. At the office of the Korea Chamber of Commerce and Industry on Wednesday, the South Korean Ministry of Trade, Industry, and Energy held a round-table meeting with finished cars and automobile parts manufacturers, including Hyundai Motor Company, Kia, and GM Korea, regarding the automobile industry’s strategy.

 

Korean military rebuts possibility of USFK deploying for Taiwan
The South Korean military authorities rebutted the possibility of the USFK deployed for a potential Chinese invasion of Taiwan after Former USFK Commander Robert Abrams mentioned such a scenario. According to the Radio Free Asia on Monday, the retired general, who led the USFK from 2018 to 2021, said it would be “possible” to deploy the USFK forces when asked if there is any possibility that the USFK might be mobilized in the event that China invades Taiwan.

Yoon: N. Korea may engage in provocation if China attacks Taiwan
If China attacks Taiwan, it is also very likely that North Korea will make a provocation,” said South Korean President Yoon Suk-yeol on Sunday (local time). “South Korea’s priority is to address North Korea’s provocations based on a strong alliance between South Korea and the U.S.” It is believed as the president drew a line regarding the U.S.’ request for South Korea to support the defense of Taiwan by mentioning concerns about North Korean provocations.

 

 

                                                                   
 

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

Seoul to buy back $3.5 bn bonds as yield gallops to 4.5%, KRW crashes to 1,440 vs USD
South Korean fiscal and monetary authorities on Wednesday pledged to buy back government bonds worth 5 trillion won ($3.5 billion) over next two days to rein in the bond yields galloping to match the jump in U.S. Treasuries on expectations for faster tightening and hinted of interventionist activity to slow the won’s free fall. The Bank of Korea on Wednesday posted that it would be buying 3 trillion won worth government bonds in maturities of 10, five and three years Thursday morning.


Korean Inc. hold off or streamline capex amid strong USD, interest rates, inflation
Large South Korean companies that had pledged multiple billion-dollar investments over the next five years are adjusting their roadmap in the face of multiple whammies of soaring interest and dollar-won exchanges rate and wage pressure from strong inflation on top of unfavorable external commerce conditions from subdued demand and escalating protectionism. Hyundai Oilbank on Monday held a board meeting to suspend its 360 billion won ($251 million) investment plan to add a crude distillation unit (CDU) and vacuum distillation unit (VDU).

 

Koreans’ purchasing power weakens on tumbling Korean currency value
South Koreans are expected to tighten their belt further later this year as their purchasing power has substantially weakened following a plunge in the Korean currency value against the U.S. dollar amid growing economic recession fear. According to the Bank for International Settlements (BIS) on Tuesday, the real effective exchange rate (REER) of the Korean won stood at 100.21 in August, the lowest in 10 years since recording 99.71 in September 2012.


                                                     
 

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

National Assembly becomes battleground in controversy over Yoon’s diplomatic gaffes
It was revealed on Tuesday that following President Yoon Suk-yeol’s calls for an investigation into the reports of him making foul remarks, the presidential office had sent an official letter to MBC, the first to report on the incident, demanding that the broadcaster reveal the details behind its report. The People Power Party (PPP) launched a task force for “revealing the truth regarding MBC’s biased broadcasting,” and, together with the presidential office, embarked on a two-pronged attack insinuating collusion between politicians and the media.

 

Could UK’s destabilizing tax cuts offer lesson for Korea?
These are the titles of reports pouring out of Korean securities companies following the announcement of large-scale tax cuts by the British government. These massive cuts have been a double whammy for the UK in terms of bonds and its currency, causing global financial markets to fluctuate during a time of high inflation and high interest rates. Former US Treasury Secretary Larry Summers, who has warned of the risk of high inflation globally, said that “Britain will be remembered for having pursued the worst macroeconomic policies of any major country in a long time.”

 

S. Korea’s PM lets cat out of bag on US VP Harris’ planned trip to DMZ
US Vice President Kamala Harris is planning to visit the Demilitarized Zone (DMZ) on Thursday during her upcoming trip to South Korea. Korean Prime Minister Han Duck-soo mentioned the visit during his opening remarks before a meeting with Harris at the Okura Tokyo Hotel on Tuesday morning.And our government and the Korean people are very much looking forward to seeing you in person in Korea,” said Han, adding, “Her visit to the DMZ during her trip to Seoul will be very symbolic.”

 

                                                  

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

Office of the President Asks MBC President to Explain the “Foul Language Coverage”
On September 27, MBC announced that on Monday, the Office of the President sent a notice to the president of MBC, Park Sung-jae, asking about the details behind the coverage of the president’s foul comment. MBC expressed regret claiming that the presidential office sending a notice to the president of a public broadcasting company and demanding an explanation for a news report threatened the freedom of the press. In the notice, the presidential office asked, “On what grounds did you specify the pronunciation, which even voice analysts found difficult to interpret?”


President Yoon Attacks the Press but Stays Silent on Controversial Remark, Fueling the Debate Instead of Resolving It
On September 26, President Yoon Suk-yeol opted to fuel the controversy rather than settle the debate over his foul comment. He concluded that the press reported false facts mentioning a threat to the people and demanded an investigation into the truth. Reportedly, the president claims that he does not remember what he said. The Office of the President continues to deny the president’s use of foul language. The presidential office and the ruling People Power Party (PPP) are following suit and focusing their efforts on changing public opinion.


DPRK Launches Ballistic Missile after the Arrival of USS Ronald Reagan: Further Provocation with SLBMs Could Follow
On September 25, the Democratic People’s Republic of Korea (DPRK) fired a short-range ballistic missile. The missile was launched a month after the North fired a cruise missile last month. The latest launch is seen as a demonstration of military power in response to a nuclear-powered aircraft carrier, a U.S. strategic asset, coming to South Korea and taking part in an ROK-US joint exercise at sea. The National Security Council (NSC) gathered the standing committee for an emergency meeting, over which Kim Sung-han, director of national security, presided.

 

                                                             

KBS(http://world.kbs.co.kr/service)

NSC Condemns N. Korea's Ballistic Missile Launches
The National Security Council(NSC) held a standing committee meeting on Wednesday after North Korea fired two ballistic missiles to discuss the latest provocation and Seoul’s response. The presidential office said in its press release that the NSC standing committee convened an emergency session after South Korea's Joint Chiefs of Staff said it detected two short-range ballistic missiles fired between 6:10 p.m. and 6:20 p.m. on Wednesday from the Sunan area in Pyongyang toward the East Sea.


Britain's Top Diplomat 'Sincerely Moved by Yoon's Attendance at Queen's Funeral'
Britain's top diplomat said he was sincerely moved by President Yoon Suk Yeol and First Lady Kim Keon-hee's attendance at the state funeral of the late Queen Elizabeth II last week. Ahead of a strategic ministerial dialogue with foreign minister Park Jin in Seoul on Wednesday, British foreign secretary James Cleverly said the visit to London by Seoul's head of state was meaningful to the British government. Referring to the late queen's visit to South Korea in 1999, Cleverly said the trip was likely a very important moment in her life.

 

Pres. Yoon Pledges to Secure Place in Top 3 in AI for S. Korea
President Yoon Suk Yeol has pledged to turn South Korea into a global top three country in the field of artificial intelligence(AI). Yoon made the vow at an emergency meeting for economy and public livelihood in Gwangju on Wednesday, proclaiming that the country will leap forward once again on the back of a digital economy. He said the government will aim to raise South Korea's global competitiveness in artificial intelligence to the third place level and double the size of the local data market to 50 trillion won, while seeking to secure top-notch technologies in semiconductors, quantum computing and the metaverse.

 

                                                                        
 

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

Yoon set to meet U.S. Vice President Harris amid N. Korea threat, IRA concerns
President Yoon Suk-yeol is set to meet with U.S. Vice President Kamala Harris in Seoul on Thursday amid an escalation of North Korea's missile testing and concern about economic repercussions from the U.S. Inflation Reduction Act (IRA). Harris, who is traveling to South Korea from Japan, will make her first visit to the country as vice president. The last time a U.S. vice president visited South Korea was in February 2018, when Mike Pence led a delegation to the PyeongChang Winter Olympic Games.

 

North Korea fires 2 short-range ballistic missiles into East Sea: JCS
North Korea fired two short-range ballistic missiles (SRBMs) into the East Sea on Wednesday, ratcheting up tensions amid an ongoing South Korea-U.S. naval exercise involving an American aircraft carrier. The Joint Chiefs of Staff (JCS) said it detected the launches from the Sunan area in Pyongyang between 6:10 p.m. and 6:20 p.m., and that the missiles flew some 360 kilometers at apogees of around 30 km at top speeds of about Mach 6. It did not provide other details, saying the intelligence authorities of South Korea and the United States are conducting a detailed analysis to verify the specifics of the missiles.

 

S. Korea, EU discuss responses to U.S. EV tax incentives
South Korea sought joint responses with European Union member nations over a new U.S. act that excludes electric vehicles assembled outside of North America from tax incentives, the industry ministry said Wednesday. Deputy Trade Minister Jeong Dae-jin met with 18 ambassadors to Seoul from EU nations, including Denmark, Ireland, Austria, Italy and France, and asked for their attention to the discriminatory nature of the Inflation Reduction Act (IRA), according to the Ministry of Trade, Industry and Energy.

 

                                                    


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

Yoon set to meet US Vice President Harris amid N. Korea threat, IRA concerns
President Yoon Suk-yeol is set to meet with US Vice President Kamala Harris in Seoul on Thursday amid an escalation of North Korea's missile testing and concern about economic repercussions from the US Inflation Reduction Act (IRA). Harris, who is traveling to South Korea from Japan, will make her first visit to the country as vice president. The last time a US vice president visited South Korea was in February 2018, when Mike Pence led a delegation to the PyeongChang Winter Olympic Games.

 

Amid inflation bill concerns, Korea aims to take 12% in global EV market
South Korea’s policymakers on Wednesday unveiled their goal of taking up 12 percent of the global auto market and expanding the country's capacity in manufacturing electric vehicles with 3.3 million units a year, expressing its confidence in tackling concerns over US' inflation reduction bill. Setting a target of becoming the world's third-largest automaker, the government will “resolve regulatory barriers” and “offer tax benefits" to help local carmakers smoothly carry out investment projects worth 95 trillion won ($66 billion) between 2022 and 2026, the Ministry of Trade Industry and Energy said in a statement.


NATO approves of South Korea's establishment of diplomatic mission to NATO
South Korea established its first diplomatic mission to NATO in Brussels, Belgium, after it received an official acceptance from the North Atlantic Council. The North Atlantic Council said Tuesday that the allies agreed to accept Seoul’s request to designate its embassy to Belgium as the country’s diplomatic mission to NATO. According to the council, the NATO allies agreed to "strengthen dialogue and cooperation with new and existing partners in the Indo-Pacific to tackle cross-regional challenges and shared security interests," under its new strategic concept.

 

 

                                                    

 

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

North Korea fires 2 missiles into East Sea in latest show of force
North Korea launched what appear to have been two short-range ballistic missiles into the East Sea, Wednesday, apparently in another show of force against the latest joint military drills between South Korea and the United States. The South's Joint Chiefs of Staff (JCS) said it detected the launches of two North Korean missiles from the Sunan area of Pyongyang between 6:10 p.m. and 6:20 p.m. The missiles traveled a distance of 360 kilometers after reaching a maximum altitude of 30 kilometers at a top speed of Mach 6, according to the JCS.

 

Prime minister calls for rapprochement at meeting with Japanese leader
Prime Minister Han Duck-soo called for rapprochement between South Korea and Japan at a meeting with Japanese Prime Minister Fumio Kishida in Tokyo, Wednesday, saying the two countries are important partners that share many common values. Han, who arrived there Tuesday to attend the state funeral of former Japanese Prime Minister Shinzo Abe, held a meeting at Akasaka Palace, where he and Kishida discussed pending issues such as forced labor during Japan's colonial rule of Korea and security cooperation in response to North Korea's evolving threat.

 

South Korea's mission to NATO approved
South Korea's request to set up a mission to NATO was approved, offering greater chances for Seoul to expand its strategic and security cooperation with the largest military alliance in the world. According to its website on Wednesday (local time), the North Atlantic Council (NAC), the top decision-making body of NATO, agreed on Monday to accept South Korea's request to designate its Embassy to Belgium as the country's mission to NATO. "This is an important step in NATO's strong partnership with the Republic of Korea," the website read. "Since 2005, the Alliance (NATO) and Seoul have developed a strong partnership, based on shared values."


                                                                                                                  

 

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

Gwangmyeong Daily 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.com, bfp@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.
 

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