Tuesday, November 22, 2022


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

 

The Korea Post ( www.koreapost.com )

Kang Shin-sook, called the “myth of high school graduates,” becomes head of Suhyup Bank
The Suhyup Bank President Recommendation Committee announced on Nov. 15 that Kang Shin-suk, 61, vice president of finance at the Federation of Suhyup Banks, was appointed as the next Suhyup Bank president. She is the third female bank president after former President Kwon Sun-joo of Industrial Bank of Korea (2013) and CEO Yoo Myung-soon of Citi Bank (2020). Newly appointed President Kang is called the “myth of high school graduates of Suhyup.”

 

26 new contracts, MOUs signed at the Korea-Saudi Arabia investment forum
Trade, Industry and Energy Minister Lee Chang-yang of South Korea attended the Korea-Saudi Investment Forum on November 17, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and Saudi Arabia’s Ministry of Investment, and organized by the Korea Trade-Investment Promotion Agency (KOTRA), Korea Chamber of Commerce and Industry (KCCI) and the Federation of Saudi Chambers (FSC). Approximately 300 persons attended the event, including Saudi Arabia’s Investment Minister Khalid A. Al-Falih and other representatives of Korean and Saudi officials and companies.

 

SK On joins hands with Hanyang, Yonsei universities for next-generation battery research
SK On joins hands with leading universities in Korea to strengthen R&D capabilities for next-generation batteries. SK On announced on Nov. 18 that it had signed a business agreement with Hanyang University and Yonsei University to establish an industry-university cooperation center. On Nov. 17 SK On held an agreement ceremony at Hanyang University Fusion Tech Center in Seongdong-gu, Seoul. The event was attended by Dean Kim Chan-hyung of Hanyang University College of Engineering, Professor Kim Han-soo of battery engineering at Hanyang University, and Manager Choi Kyung-hwan of SK On's next-generation battery department.

 

                                                             


Chosun Ilbo (http://english.chosun.com)

Pandemic Makes More Schoolkids Obese
Three out of 10 Korean schoolchildren are overweight or obese, often as a result of lockdown. According to analysis of 1,023 sample schools across the country by the Education Ministry, overweight or obese schoolchildren increased five percentage points since 2019 to 30.8 percent last year. The ratio was only 22.9 percent in 2016. Fast food and sugary drinks are often to blame. The proportion of elementary schoolkids who eat fast food such as hamburger and pizza more than once a week rose from 68.6 percent to 74.4 percent over the same period, while that of middle schoolers increased from 78.7 percent to 81.3 percent and of high schoolers from 81.1 percent to 82.8 percent.

Income Drops as Interest Rates Surge
Soaring inflation caused real household income to decline in the third quarter of this year while rising interest rates led to a heavier burden. Households' interest payments jumped a whopping 19.9 percent to W104,000 on average, the biggest increase since the fourth quarter of 2018 (US$1=W1,339). According to Statistics Korea on Thursday, the average monthly household income stood at W4.87 million from July to September, up three percent from a year ago. But real income reflecting consumer prices declined 2.8 percent, the biggest drop in 13 years as inflation reached its highest point since 1998.
 

Kim Jong-un Brings Daughter to Missile Launch
North Korean leader Kim Jong-un last Friday took his little daughter to the launch of a nuclear-capable intercontinental ballistic missile. This is the first time the girl, who looks about 10 years old, has been seen in public. Pictures in the state media on Saturday showed Kim hand in hand with the girl at the launch of a Hwasong-17 ICBM, saying Kim observed the launch with his wife, Ri Sol Ju, other officials, and his "beloved daughter." The official Rodong Shinmun daily said the following day that North Korea is now "the strongest ICBM-possessing country on the planet" and added it will "continue to strengthen nuclear armament to fulfill the dreams of future generations."

 

                                                                                     

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

$88-billion Yongin chip-cluster agreement signed
SK hynix, Land & Housing Corp. and the Yeoju government on Monday signed a mutual cooperation agreement for the building of a semiconductor cluster in Yongin, Gyeonggi. In 2019, SK hynix announced a 10-year, 120-trillion-won ($88 billion) project to build the nation’s biggest semiconductor cluster on 4 million square meters in Yongin. In addition to SK hynix, about 50 suppliers are planning to set up shop within the cluster. Production is scheduled to start in 2027.


North's foreign minister calls UN's Guterres 'puppet of the U.S.'

The United Nations should remain impartial and should not have condemned a recent missile test by North Korea, the country's foreign minister said. On Friday, UN Secretary General Antonio Guterres issued a statement condemning North Korea's launch of an intercontinental ballistic missile (ICBM) into the East Sea earlier that day. Guterres called on Pyongayng to "immediately desist from taking any further provocative actions, to fully comply with its international obligations under all relevant Security Council resolutions, and to take immediate steps to resume dialogue leading to sustainable peace and the complete and verifiable denuclearization of the Korean Peninsula."

 

SNU or Korea University? It depends on whom you ask.
In a recent survey asking which university they would recommend to their students or children, school teachers and parents both chose Seoul National University. But when asked which university graduate they would likely hire, corporate employers chose Korea University. The results were part of this year’s JoongAng Ilbo college rankings, which looked at over 50 universities across the nation and ranked them by various criteria.

 

 
                                                               

 

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

Alternative ideas at the World Cup
Ecuadorian soccer fans that attended the opening match of the 2022 Qatar World Cup Games held at the Al Bayt Stadium in Doha on Nov 21 shouted, “Queremos Cerveza! (We want beer!)”. Ecuador eventually won Qatar by 2:0, but it was not enough to quench the thirst of the country that scored a victory in the World Cup tournament for the first time in eight years since the second round of the group stage at the 2014 Brazil World Cup.

 

President Yoon suspends having daily chats with reporters
The ruling People Power Party (PPP) held the MBC News accountable for South Korean President Yoon Suk-yeol’s decision on Monday to suspend taking questions from reporters on his way to the office. To the conservative party’s comment, “MBC should be held responsible for the disturbance it has made,” the main opposition Democratic Party of Korea (DPK) and the Justice Party lashed out, describing the ruling party’s criticism as “a small-minded response” and “an act to set up a wall between the media and the people.”


US, Canada say they will modernize missile responses as N. Korea launches ICBM
After North Korea’s successful test launch of Hwasong-17, a ‘monster intercontinental ballistic missile (ICBM),’ the international community is adding more pressure on the North. The U.N. Security Council will have an open meeting on Monday (local time) to discuss how to respond to North Korean provocations. Foreign ministers of G7 released a joint statement on Sunday (local time) and raised their voices, calling for further significant measures to be taken. Meanwhile, Minister of Foreign Affairs of North Korea Choe Son Hui said on Monday that she is keeping an eye on the movement of the U.S. and the Security Council with a clear direction for a response, which implies more potential provocations.

 

                                                                    
 

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

Korea’s money market still jittery due to glut in public and bank bonds
South Korea’s bond market remains jittery despite some easing in the bottleneck in corporate and commercial papers through state-led relief programs, with borrowing rates on deficit-ridden Korea Electric Power Corp. (KEPCO) falling from their peak of 5.9 percent. The state power monopoly on Thursday sold two-year bonds worth 460 billion won ($341.5 million) at a coupon rate of 5.6 percent and three-year papers worth 100 billion won at 5.7 percent, according to the financial investment industry.


Korean bank issues brim near $140 bn this year amid corporate loan demand
South Korean bank issues have brimmed to $140 billion so far this year as lenders turned to the debt market to build up capital before rates go higher on surge in corporate demand. According to Korea Financial Investment Association on Sunday, bank bond issuance amounted to 186.6 trillion won ($138.6 billion) as of Nov. 18 this year, up 13.43 percent from the same period a year ago and surpassing last year’s total of 183.2 trillion won. It is the largest amount since the association began compiling related data in 2006.

 

Korea’s trade deficit nears $40 bn as exports fall in double digits Nov
South Korea’s trade deficit has neared $40 billion so far this month as exports fell by double digits amid widening slump in chip shipments and worsening demand from China. According to data released by Korea Customs Service on Monday, the country’s exports tumbled 16.7 percent on year to $33.16 billion in the first 20 days of November. Average daily export also fell 11.3 percent on year based on 15.5 working days, 1 day shorter than a year ago.

 

 

                                                     
 

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

N. Korea rattles saber with talk of “nukes for nukes,” preemptive strikes
North Korean leader Kim Jong-un stated Friday, the day of the test launch of the new Hwasong-17 intercontinental ballistic missile (ICBM), that Pyongyang would “react to nukes with nuclear weapons and to total confrontation with all-out confrontation.” On the same day, President Yoon Suk-yeol of South Korea stated that strong measures against North Korean threats would be taken, putting the Korean Peninsula in a state of high tension.

 

Yoon’s discrediting of press is “highly inappropriate,” argue conservative media scholars
South Korean President Yoon Suk-yeol’s denunciations of the MBC network, which reported on a hot mic gaffe by Yoon during his visit to the US, have even conservative media scholars expressing concern. One scholar said that Yoon’s use of terms such as “fake news” and “malicious” to denounce the network showed his “mistaken perceptions of the press.” Commenting on Yoon and the ruling People Power Party’s response to MBC, Seoul National University professor of communication Youn Sug-min said in a telephone interview with the Hankyoreh on Friday that it was “highly inappropriate.” Youn is considered one of Korea’s leading conservative media scholars.

 

Korea’s Kim Ye-lim wins top prize at ISU Grand Prix, a first since Kim Yuna
Figure skating ace Kim Ye-lim won gold at the ISU Grand Prix and secured her ticket to the finals, making her the first Korean figure skater to do so since now-retired Kim Yuna. Kim Ye-lim stood atop the podium at the 2022-2023 ISU Grand Prix of Figure Skating NHK Trophy, which took place at the Makomanai Ice Arena in Sapporo, Japan, on Saturday. She scored 72.22 points (first place) for her short program, and then added 132.27 (second place) for her free skate to finish with 204.49 points.

 

 

                                                  

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

President Yoon Suspends His Morning Press Q&A Sessions
President Yoon Suk-yeol will no longer receive questions from the press on his way to work beginning November 21. The Office of the President explained that the reason was because of a recent argument between an MBC reporter and Lee Ki-jeong, the presidents public relations secretary. On Monday morning, the Office of the President announced, “As of November 21, we have decided to suspend the morning press Q&A sessions,” and explained, “In connection with the unfortunate incident that occurred recently, we decided that we could not continue unless fundamental measures to prevent similar incidents in the future were in place.”

 

 

An Event of 100,000 Shincheonji Followers in Daegu Draws Criticism, “It Seems like the Itaewon Disaster Happened Just Yesterday”
Shincheonji Church of Jesus, the Temple of the Tabernacle of Testimony (Shincheonji), held an event with over 100,000 believers taking part in Daegu on November 20. Citizens eyed the event in a less than favorable light, as it was held amid concerns of safety accidents and another COVID-19 wave due to large scale events following the Itaewon crowd crush. According to the explanation by the police on Sunday, Shincheonji held a commencement ceremony for the Shincheonji believers’ Class of 113 at the Daegu Stadium from noon to 3 p.m. November 20. Lee Man-hee, the leader of Shincheonji and his followers arrived at the stadium on buses and helicopters. Reportedly, the Class of 113 consisted of over 106,000 people.


Woo Won-shik Says, “Government-Ruling Party’s Is Arrogant to Mention Provisional Budget. Democratic Party Is May Propose Amendment”
Lawmaker Woo Won-shik of the Democratic Party of Korea, who serves as Chair of the National Assembly’s Special Committee on Budget & Accounts, said on November 18 that approving the budget for the next year within the statutory deadline (December 2, 2022) will be “extremely difficult.” Lawmaker Woo appeared on Kim Jong-bae’s Focus, an MBC radio show, and gave this answer when Kim asked him whether [the ruling party and the opposition] were likely to agree on and approve the budget by the statutory deadline. Woo added, “The ruling party and the opposition tend to differ a great deal over the budget during the transition of governments.”

 

 

                                                            

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

UNSC Fails to Take Action against N. Korea's ICBM Launch
The UN Security Council failed to reach a consensus on how to address North Korea’s latest launch of an intercontinental ballistic missile(ICBM) during a meeting on Monday. In the session at the UN headquarters in New York, western powers including the U.S. and key European nations as well as South Korea and Japan "strongly condemned" the North's continued missile launches, calling for a concerted response by the Security Council. However, China and Russia, permanent members of the UN Security Council with veto power, repeated their position that the United States is to blame for the North's armed provocation.

 

Inflation Expectations Fall to 4.2% in November
Inflation expectations in November dropped slightly from a month ago. According to the Bank of Korea(BOK) on Tuesday, expected inflation, measuring consumers’ estimates on price increases in the next 12 months, stood at four-point-two percent this month, down one-tenth of a percentage point from October. The index soared to an all-time high of four-point-seven percent in July before declining to four-point-three percent in August and four-point-two percent in September and  then rebounding by zero-point-one percentage point in October.


S. Korea Conducts Successful Test of Anti-missile System
The military has reportedly carried out a successful test of its long-range surface-to-air missile(L-SAM) interception system under development. According to the military on Tuesday, the Agency for Defense Development(ADD) recently conducted a closed-door test striking a target missile with the L-SAM system, which will become the key part of the country's multilayered, low-tier missile defense program. In the test observed by top military officials, two types of missiles – an anti-ballistic missile and anti-aircraft missile – were reportedly fired.

 

 

                                                                        
 

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

U.S. to launch new Space Force command in Indo-Pacific amid N. Korean missile provocations
The U.S. Space Force is setting up a new component command in the Indo-Pacific, U.S. Indo-Pacific Command (INDOPACOM) said Monday, in a move believed to be aimed at enhancing U.S. defense capabilities against ballistic missile threats posed mainly by China but also North Korea. In a message posted on its Twitter account, INDOPACOM said the new U.S. Space Force Indo-Pacific Command will be launched on Tuesday.


Yoon indefinitely suspends routine Q&As with reporters
President Yoon Suk-yeol will stop holding routine Q&As with the press starting Monday, his office said, after a reporter got into a shouting match with one of his aides during a session last week. The quarrel happened Friday after Yoon said it was "unavoidable" that his office barred local broadcaster MBC's reporters from boarding the presidential plane to cover his Southeast Asia trip earlier this month, given that it showed "very malicious behavior" with its "fake news." Yoon was referring to MBC's airing of his hot mic moment in New York in September, which was subtitled to make it appear that he used vulgar language to talk about U.S. lawmakers and President Joe Biden.

 

Yoon pledges close cooperation in letter to Saudi crown prince
President Yoon Suk-yeol sent a letter to Saudi Crown Prince Mohammed bin Salman on Monday pledging close cooperation between the two countries following his visit to South Korea last week, his office said. Yoon sent the letter in response to Prince Mohammed's note thanking the president for his hospitality during his visit to Seoul last Thursday. "The crown prince's visit became an important milestone in taking the bilateral relationship one step farther," Yoon wrote in his message, according to deputy presidential spokesperson Lee Jae-myoung.

 

 

                                                    


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

Confusion intensifies over Yoon's dispute with MBC
President Yoon Seok-yeol's unedifying dispute with local news outlet MBC fell into a deeper quagmire Monday, with journalists and opposition parties blasting the presidential office's decision to suspend Yoon's daily morning interviews and erecting a wall between the press room and the main entrance of the building, which critics say is to tame the media as a whole.


As world condemns NK missile launch, Pyongyang criticizes UN chief as ‘puppet’ of US
As the United Nations Security Council was to convene an open meeting on Monday to discuss countermeasures to North Korea’s latest launch of an intercontinental ballistic missile, Pyongyang denounced the UN chief as “not impartial,” calling him a “puppet” of the United States. The Korean Central News Agency on Monday delivered a statement issued by North Korean Foreign Minister Choe Son-hui, where she denounced UN Secretary-General Antonio Guterres for his condemnation of Pyongyang’s ICBM launch and called him a “puppet” of the US.

 

Ex-deputy chief of US mission urges fresh approach to N. Korea
A yearslong impasse in bilateral talks between the United States and North Korea suggests the need for the Joe Biden administration to venture for unexplored ways in order to bring Pyongyang back to the negotiation table, a former deputy chief of US mission in Seoul said. At this point, the ball really is in North Korea’s court. The US and South Korea have shown what they’re prepared to offer,” said Mark Tokola, vice president of the Korea Economic Institute of America, in an interview with The Korea Herald on Nov. 1. “But there are some things we could do that we haven’t done.”

 

                                                    

 

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

DPK leader under pressure as probe zeroes in on him
Rep. Lee Jae-myung, leader of the Democratic Party of Korea (DPK), has come under mounting pressure as corruption investigations surrounding him are intensifying following the arrests of his close aides. With the probe zeroing in on Lee, ruling party lawmakers are pressuring him to step down, while some DPK lawmakers are demanding official explanations from the party leader. "It has become highly possible that the black money earned from the Daejang-dong development scandal flowed into the hands of two people and was used in Lee's election campaigns for Seongnam mayor, primary and presidential elections," Chung Jin-suk, incumbent chief of the ruling People Power Party (PPP), said Monday.

 

US to launch new Space Force command in Indo-Pacific amid NK provocations
The U.S. Space Force is setting up a new component command in the Indo-Pacific, U.S. Indo-Pacific Command (INDOPACOM) said Monday, in a move believed to be aimed at enhancing U.S. defense capabilities against ballistic missile threats posed mainly by China but also North Korea. In a message posted on its Twitter account, INDOPACOM said the new U.S. Space Force Indo-Pacific Command will be launched on Tuesday. It will be the first Space Force command to be established under any combatant command such as INDOPACOM.

 

 

Netflix subsidiary signs $100 mil. deal with Seoul for new production studio
Eyeline Studios, a subsidiary of global video streaming giant Netflix, has signed a deal with Seoul City to invest $100 million to introduce in the Korean capital a new video production studio that promises hundreds of new job opportunities. The investment will be made over the next five years to introduce the U.S. firm's new special effects production studio in the city, which is expected to create jobs for at least 200 local Korean artists. The new facility, according to the MOU signed on Monday, will also embrace aspiring video producers under its educational goals to teach about the company's reputed high-end digital production technologies such as real-time filmmaking software, LED volumetric capture and machine-learning algorithms.

 


                                                                                                                  

 

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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