The Korean daily media headlines and humor

The Korean daily media headlines and humor

Wednesday, October 25, 2017

Your Excellency:

Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

Korea Post Media

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A prestigious gilded Turtle Ship Model, a symbol of longevity and good health, is presented to the

Madam of each country with the wishes of Chairman Nam, the host, for the prosperity of the

Excellencies and all their children as well as good health and longevity.

Timing is running out. Book for the ‘irresistible’ Glami Health Kingdom tour on

Saturday 28 October!

Ambassadors, Senior Diplomats and All Their Family Members are cordially invited!

Your Excellency:

There are only TWO DAYS left to the Glami Tour on Saturday 28 October 2017!

The diplomat-friendly Host, Chairman & CEO Nam Jong-hyun of the Glami Co., Ltd., presents the Madam of each Ambassador and Senior Diplomat with a prestigious gilded Turtle Ship with an expression of his wishes for the Longevity and Good Health of the distinguished visitors and their families.

The travelling time is a little over one hour, and it is a one-day tour, which also includes a rare opportunity to tour the Demilitarized Militarized Zone.

For details on the 'Glami Health Kingdom,' please visit

http://www.koreapost.com/news/articleView.html?idxno=4556

The tour is organized for the Ambassadors, Senior Diplomats with Madams and all their Family members by The Korea Post media at the invitation of Chairman Nam Jong-hyun.

The itinerary of the Tour follows:

0900 hours, Saturday, 28 Oct. 2017: Meet at the Grand Hyatt Seoul (near the water fountain).

0910-1030 hours: Move to the Cheorwon City by deluxe Limousine buses.

1030-1200 hours: Visit Glami Industrial Plant and watch the production lines of the health beverage, Dawn 808.

1200-1330 hours: Attend Gala Luncheon at the Glami Daepyoung Hall (comparable to a five-star hotel banquet hall).

1330-1500 hours: Tour DMZ (to see if there have been any changes across the DMZ under Chairman Kim Jong Un of North Korea).

1500-1830 hours: Move back to the Grand Hyatt Seoul.

For inquiries, please call Ms. Kim Sua (English and Korean) at 010-7584-5873, John Kim at 010-9205-0200 or Hwi Won at 010-5376-1225.

Other phone numbers are: Ms. Kim Jung-mi (010-3388-1682) and/or Publisher-Chairman Lee Kyung-sik (010-5201-1740).

Very Respectfully Yours

/s/

Lee Kyung-sik

Publisher-Chairman

The Korea Post media

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What’s ticking in Korea today? Here is a quick roundup of important news stories from the major Korean news media today:

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.

U.S. House passes N.K. sanctions bill honoring late detainee

The U.S. House of Representatives on Tuesday passed a bill that tightens sanctions on North Korea for its nuclear weapons and honors an American citizen who died after being held by the regime. The bill, which was renamed the "Otto Warmbier North Korea Nuclear Sanctions Act" after the 22-year-old University of Virginia student, aims to cut off North Korea's links to the global financial system. It calls on the Secretary of the Treasury to freeze the U.S.-based accounts of foreign financial institutions and firms that conduct business with North Korea, including by hiring North Korean workers overseas. The bill passed 415-2 following its unanimous adoption by the House Financial Services Committee earlier this month.

S. Korea to further tighten lending rules for owners of multiple homes

South Korea will further tighten mortgage rules for owners of multiple homes, officials said Tuesday, as part of the latest comprehensive measures to ensure mounting household debt does not hurt the nation's economy. The fresh set of debt-controlling steps comes at a time when the Bank of Korea (BOK) has consistently hinted that it could shift into a tightening mode in coming months. Starting next January, loan limits in Seoul and other government-designated areas will include the principal of a borrower's existing homes, the government said in a statement. Currently, the so-called debt-to-income ratio (DTI) in Seoul and other government-designated areas, which is limited to 40 percent of the annual income of a borrower, includes the principal and interest payment of a new home as well as the interest payment for the borrower's existing homes.

LG Household logs decent profit in Q3 despite THAAD woes

LG Household & Health Care Ltd., South Korea's No. 2 cosmetics and household goods maker, said Tuesday it racked up a solid profit in the third quarter of this year on the back of its high-end cosmetic brands, despite concerns over a setback from a diplomatic row between Seoul and Beijing over a U.S. anti-missile system here. Its operating profit came to 253 billion won (US$224 million) in the July-September period, up 3.5 percent from 244 billion won tallied the previous year, the company said in a regulatory filing. Sales reached 1.6 trillion won, also up 2.9 percent from a year earlier. LG Household & Health Care said the figures are the highest-ever for any third-quarter earnings.

Gov't confirms resumption of work on stalled nuclear reactors

The South Korean government on Tuesday confirmed its plan to restart the construction of two stalled nuclear reactors but vowed to scrap plans to build six new units as part of its strategy to gradually phase out atomic power. The Ministry of Trade, Energy and Energy officially announced the decision on the Shin Kori 5 and 6 units in the southeastern city of Ulsan after President Moon Jae-in accepted a civilian panel's recommendation in a Cabinet meeting earlier in the day. The reactors were about 30 percent complete before their construction was suspended in July, and the state-run Korea Hydro & Nuclear Power (KHNP) Corp. had already spent about 1.6 trillion won (US$1.4 billion) on the project.

Asiana passengers given waiver on security interviews at airport for U.S. trips till Apri

Asiana Airlines Inc., South Korea's second-biggest airline, said Tuesday that Washington accepted its request to delay the implementation of a strengthened security check of its passengers bound for the United States. On June 28, the U.S. Transportation Security Administration (TSA) asked 180 airlines in 105 countries to carry out a thorough pre-flight security check of passengers through interviews and screening. It called on companies to apply for a delay in the implementation and give the reasons for the delay request by Oct. 19. Local full-service carriers such as Korean Air Lines Co. and Asiana Airlines asked the TSA to delay the implementation of enhanced security checks until April 24 and Feb. 20, respectively.

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KBS (http://world.kbs.co.kr/english/news/)

Moon Vows to Restore Relationship with Labor Sector

President Moon Jae-in says restoring the relationship between the government and the labor sector is an urgent task. The president shared his view on various issues with leaders of unions over a dinner at the presidential office on Tuesday.
Moon vowed to recognize the labor sector as an important partner in state affairs, saying that former administrations had pushed ahead with labor policies unilaterally for the last decade without recognizing workers as a partner in carrying out state affairs. In the meeting, Federation of Korean Trade Unions(FKTU) President Kim Ju-young renewed his request for the nation to hold an eight-way discussion involving the two umbrella unions, two employers' groups, labor and finance ministries, the tripartite commission and the president.

US House Passes 'Otto Warmbier Act'

The U.S. House of Representatives has passed a bill that imposes heavy sanctions on North Korea for its nuclear weapons and honors an American citizen who died after being held by the regime. House lawmakers on Tuesday voted overwhelmingly in favor of the bill, which was renamed the "Otto Warmbier North Korea Nuclear Sanctions Act" after the 22-year-old University of Virginia student. The bill, which passed in a 415 to two vote, aims to cut off North Korea's links to the global financial system, banning foreign financial institutions and firms that conduct business with North Korea from accessing the international financial system. Foreign companies hiring North Korean workers are also subject to the financial sanctions.

'US Open to Dialogue, N. Korea Not Ready'

The U.S. State Department says that the U.S. is open to talks with North Korea, but the North is not ready as it continues nuclear and missile development. State Department spokesperson Heather Nauert said on Tuesday during a news briefing that Washington has expressed its hope for dialogue with Pyongyang many times, but the North's continued nuclear tests and ballistic missile launches show it's not ready for serious talks. When asked about preconditions for dialogue, Nauert said that North Korea is not showing interest in dialogue, stressing that Pyongyang should display its intent to engage in talks with the U.S.

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

In combat uniforms, allies' defense chiefs to press N. Korea

South Korean Defense Minister Song Young-moo said Monday he and U.S. Secretary of Defense James Mattis plan to use military uniforms for a joint warning message to North Korea this week, when they meet in South Korea for bilateral annual talks. Song proposed that Mattis wear a Marine Corps combat uniform, instead of a suit, in meeting with the allies' troops on the peninsula together. The Pentagon chief is a retired Marine Corps general. Song, a former Navy admiral and chief of staff, will be dressed in a Navy combat uniform as well."I offered that to Secretary of Defense Mattis and he responded positively without hesitation," the minister told reporters during a visit to Clark, the Philippines, for a regional security forum hosted by Southeast Asian countries.

U.S. military strike won't destroy all N. Korean nuclear capabilities: U.S. expert

A preventive military strike by the United States would not remove all of North Korea's nuclear and ballistic missile capabilities, a renowned American expert on the North Korean issue has said, while proposing economic sanctions as the most viable tool to end North Korea's nuclear weapons program."A preventive military strike would not destroy all of North Korea's capabilities. It would risk a wider war that would inflame South Korea and Japan and potentially cause millions of casualties," Michael Green, vice president for Asia at the Center for Strategic and International Studies (CSIS), said last week in Washington, D.C. in his meeting with South Korean journalists.

U.S. senator tells Trump to leave N.K. policy to 'professionals'

A ranking U.S. senator told President Donald Trump Tuesday to let the "professionals" conduct foreign policy on North Korea. Sen. Bob Corker (R-TN), chairman of the Senate Foreign Relations Committee, took a swipe at the president as the feud between them escalated to new levels."Really, when you look at the fact that we've got this issue in North Korea and the president continues to kneecap his diplomatic representative, the secretary of state, and really move him away from successful diplomatic negotiations with China, which is key to this, you're taking us on a path to combat," Corker told ABC.

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

LG Electronics launches new R&D base in UK for automotive business

A vehicle component unit under South Korea’s LG Electronics has established its new base in the United Kingdom to expand its automotive business with car manufacturers in the fast growing European market. The tech giant has opened a research and development center at the University of Warwick Science Park in the city of Coventry, and is registered as a tenant in the academia-industrial cluster, based on information provided by market insiders exclusively to The Korea Herald.

Plan for plastic surgery clinic in airport transit terminal hits wall

A quick nip and tuck while in transit through Incheon, South Korea -- the “world’s capital of plastic surgery”? The idea might have looked brilliant to the operator of Incheon Airport, the country’s main gateway, looking to add a unique, new feature to its soon-to-be completed passenger terminal. However, doctors and medical professionals seem to think otherwise. According to data from Incheon International Airport Corp. released by Rep. Kang Hoon-sik of the Democratic Party of Korea, the airport’s project to set up a 240-square-meter cosmetic surgery center on the third floor of its new terminal slated to open in January has hit a wall, as no doctor has come forward to open a clinic there.

Korea moves to toughen law over negligent dog owners

South Korea is moving to strengthen measures to increase liabilities of dog owners and address safety concerns, after several high-profile dog bite cases raised public alarm recently. Rep. Kim Tae-nyeon, chief policymaker of the ruling Democratic Party of Korea, said Tuesday that his party will push to revise the Animal Protection Act to punish owners in pet attack cases. He also spoke of the possible addition of clauses calling for mandatory education for owners and the training of misbehaving dogs.

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

Owners of multiple homes to be pressured

Owners of multiple homes will find it much harder to get mortgages and other loans next year as they are the main target of a package of fresh steps to curb the nation's soaring household debt.

The government announced Tuesday comprehensive measures to contain the surging household debt, with the aim of restricting the annual increase to 8.2 percent from 11.6 percent at the end of 2016. The debt currently stands at 1,388 trillion won ($1.24 trillion). This was 93 percent of Korea's GDP in the first quarter of the year, well above the average 72.4 percent of OECD member countries in 2015.

Congress concludes with President Xi as undisputed 'core' leader

President Xi Jinping was elevated to the status of late paramount leaders Mao Zedong and Deng Xiaoping, securing an almost unchallengeable dominance over the Communist Party, which ended its week-long gathering on Tuesday with a newly elected Central Committee, the party's elite decision-making body. At the closing session in Beijing's cavernous Great Hall of the People, Xi declared that his governing philosophy, officially titled "Xi Jinping thought on Socialism with Chinese characteristic for a new era", had been added to the party constitution.

Construction of Shin-Kori 5 and 6 reactors resumes

Construction work on the Shin-Kori No. 5 and 6 nuclear reactors will resume from midnight, following a recommendation by a public debate commission. But construction plans for six other nuclear reactors will be dropped, while the ratio of renewable energy in power generation will be increased to 20 percent by 2030. The Ministry of Trade, Industry, and Energy announced the energy transition roadmap at a Cabinet meeting presided over by President Moon Jae-in Tuesday. "The government will respect the recommendation of the commission," the energy ministry said. "The construction of the Shin-Kori 5 and 6 reactors will resume and the follow-up measures will be prepared soon."

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DongA Ilbo (http://english.donga.com)

Xi Jinping’s name enshrined into the party’s constitution

China’s ruling Communist Party added President Xi Jinping’s name and ideology called “Xi Jinping Thought” into the party’s constitution (or charter) on Tuesday. The symbolic decision puts President Xi on par with Mao Zedong, the only former leader of the country who has been honored in such a way while still alive. With his “thought to build a strong army” also added to the constitution, Mr. Xi is well positioned to have a greater clout as an absolute leader all across the party, the government and the military.

‘Torch lighting should draw attention to Olympics,’ says Moon

“The PyeongChang 2018 Torch lighting ceremony should be an opportunity to attract national interest towards the upcoming Olympic Games and create a rave for the event,” said President Moon Jae-in in a cabinet meeting on Tuesday. “We are 108 days away from the Olympics. The International Olympic Committee positively assessed the current progress we have made for the PyeongChang Olympics and Paralympics,” said Moon. “However, ticket sales are at around only 30 percent, which demonstrates lack of national interest.”

Connected home appliances open way for new living spaces

"I think about connectivity of spaces everyday while driving my Tesla." "Connectivity" has always been a topic for prominent architect Thom Mayne. With the advent of the "smart home" era, Mayne, who has been putting emphasis on connecting the inside and outside of a structure, predicts that connectivity between spaces will become even more important as connected home appliances will create a whole new different living space.

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

Asiana Wins Exemption from 'Extreme' U.S. Flight Vetting

Passengers bound for the U.S. need to arrive at boarding gates about half an hour before departure under enhanced security measures starting Thursday. The Ministry of Land, Infrastructure and Transport on Tuesday said it carried out a test run for the new measures on Oct. 19 at the request of the U.S. Transportation Security Administration. It said passengers will have "no problems" despite tougher security screenings if they arrive at the airport about three hours before departure. Airline security officers interviewed passengers waiting in line at check-in counters, but it did not take much longer than usual.

Border Regions with N. Korea Lack Evacuation Facilities

Small islands in the West Sea near the maritime border with North Korea lack evacuation facilities in case of a North Korean attack. The islands include Yeonpyeong and Baeknyeong, which fell victim to North Korean shelling in 2010, and Ganghwa. According to data submitted Monday to the National Assembly by the Incheon city government, which oversees the islands, they are home to 87 of the 190 evacuation facilities built by the government around the nation.

What Is The Best Time to Take Supplements?

Taking vitamins and other supplements has become part of the daily routine for many people. But experts caution that certain supplements should be taken at particular times of day. So what is the best time to take vitamins and supplements? Vitamins B and C stimulate digestion and waste elimination, and convert food into energy, so they are most effective if taken in the morning. And since they are soluble, it is better to take them before meals rather than after, when your stomach is filled with oily foods. People with stomach problems should take them after meals, however, as the acidity of these vitamins can cause discomfort.

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

Ex-CIA chief minimizes likelihood of new Korean War

David Petraeus, who served as director of the CIA while Barack Obama was US president, said that the sharp rhetoric against North Korea that is coming out of the current US administration – including by US President Donald Trump – is aimed at China and that there’s no chance of war on the Korean Peninsula. "I am concerned, but the question is, 'How concerned?' I don’t think [war] is likely, no," Petraeus said when asked about the possibility of nuclear war with North Korea during an appearance on “This Week,” a program on ABC News, on Oct. 22.

KIET report shows that preferential duties in KORUS FTA had little effect on export increases

South Korean trade authorities submitted empirical analysis findings to Washington showing that preferential US duties as part of the South Korea-US Free Trade Agreement (KORUS FTA) had almost no direct effect on the increase in South Korean exports to the US over the past five years. The findings are expected to be used as major support in the two sides’ amendment negotiations to counter Washington’s claims that the agreement is unfair and beneficial only to South Korea. An Oct. 22 Korea Institute for Industrial Economics & Trade (KIET) report titled “Analysis of FTA Effects by Industry” included results from a quantitative analysis of the effects of preferential FTA duties (abolition or reduction) on South Korean exports of 12 major manufacturing items to the US in the period (2007-16) before and after the agreement took effect in Mar. 2012.

Documents show Lee Myung-bak personally ordered Cyber Command staffing increases

Then-President Lee Myung-bak personally ordered additional increases in staffing for the Military Cyber Command in 2012 ahead of the general election in April and the presidential election in December, a document suggests. The timing for Lee’s additional order, which came after a previous staffing increase in 2010, came while the command was reporting to the Blue House on its “internet posting operations,” suggesting an increased likelihood that the president was aware of the illegal nature of its activities when he ordered the increases.

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JoongAng Ilbo (http://koreajoongangdaily.joins.com/)

Gov’t tries tackling debt levels

The government announced new regulations to curb household debt Tuesday that target borrowing to buy multiple properties. The Finance Ministry and the Financial Services Commission, however, fine-tuned the curbs to exclude low-income borrowers, people under 40 and newlywed couples. The authorities also plan to expand a debt relief program. “The country’s debt is growing by double digits,” said Kim Dong-yeon, minister of strategy and finance. “The government aims to lower the growth pace to around 8 percent [through these measures].”

Trump may skip DMZ for Humphreys instead

U.S. President Donald Trump was invited by President Moon Jae-in to visit the Camp Humphreys military base in Pyeongtaek, Gyeonggi, during his trip to Korea next month, according to the White House.

If he does, Trump is not likely to visit the demilitarized zone (DMZ), the heavily-armed narrow strip of land separating the two Koreas, since time constraints would likely not permit the president go visit both locations, a senior White House official briefed reporters in Washington Monday.

Supreme Court tears up Lone Star’s big tax bill

The long legal dispute between Korea’s tax authorities and the American private equity fund Lone Star has finally come to a close after three years, with the latter claiming victory. The Supreme Court upheld a verdict Tuesday by a lower court that dismissed a 170 billion won ($150 million) corporate tax bill levied against nine Lone Star-linked companies in tax havens three years ago. The Supreme Court concluded it was difficult to determine that Lone Star has a fixed business in Korea. The court said a foreign company is only recognized to have a local office only when all or parts of it have a fixed establishment like a building, office or a plant.

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The KyungHyang Shinmun (http://english.khan.co.kr/)

Lee Myung-bak's Intelligence Service Tried to Tarnish Former President Roh Moo-hyun's Reputation, "Leak Information about Expensive Watch to the Press and Mildly Humiliate Him"

The National Intelligence Service (NIS) under the Lee Myung-bak government told a senior prosecutor investigating former President Roh Moo-hyun to leak information about Roh receiving an expensive watch to the press to humiliate the former president. It was confirmed that the NIS conducted a project to support conservative groups by connecting them to public and private businesses. On October 23, the National Intelligence Service reform committee received a report of the investigation results by the task force overseeing the eradication of long-established irregularities and recommended that the government request a prosecutors' investigation.

"The Candles Continue to Burn" A Rally to Commemorate the First Anniversary of the Candlelight Demonstrations on Oct. 28, "Only 2% of the Candlelight Wishes Were Answered"

The National Movement Against the Park Geun-hye Government, which led the candlelight demonstrations calling for the former president's impeachment, will gather once again on October 28 with candles in hand to commemorate the one-year anniversary of the candlelight rallies. The movement said, "Only 2% of the reform tasks that the citizens with candles had ordered have been completed." The movement held a press conference to declare the one-year anniversary of the candlelight demonstrations in front of the stairs of the Sejong Center for the Performing Arts in Jongno-gu, Seoul at 1:30 p.m. on October 23 and announced that they would hold a candlelight demonstration on the theme, "The Candles Continue to Burn" at Gwanghwamun Square, Seoul on October 28.

First Weekend After Park Geun-hye Refuses Trial: March for Park's Release by Day and Candlelight for MB's Arrest by Night

On the first weekend after former President Park Geun-hye declared to refuse her trial, pro-Park groups held a Taegeukgi rally during the day, while progressive groups held a candlelight demonstration in the evening. The Campaign for the Acquittal of Former President Park Geun-hye, which includes pro-Park groups such as the Korean Patriots' Party held a rally at Marronnier Park in Daehak-ro, Seoul on the afternoon of October 21. The campaign headquarters said, "Former President Park is suffering murderous political retaliation on top of an unfair impeachment," and also said, "We support the president's declaration of a political struggle." They held the Taegeukgi and the Stars Spangled Banner and shouted the slogan, "Release President Park Geun-hye."

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The Korea Economic Daily (http://english.hankyung.com/)

POSCO Completes Steel Wire Service Center in the U.S.

POSCO, Korea's largest steel maker, has completed on September 22 the construction of a steel wire service center in Jeffersonville, Indiana, with an annual capacity of 25,000 tons. The plant will supply steel wire goods to be used for bolts, nuts, and bearings to auto parts companies. Started in April last year, the service center cost the company US$20.9 million to build. The high-quality steel materials produced in the new plant will be supplied to companies like Simplex Korea, Taeyang Metal Industrial, Nissan, and Fontana.

Industry Panics over Prospect of Rising Subcontract Worker Disputes

As the government pronounced illegal on the practice of companies relying on subcontract workers for a long time such as the cases in Paris Baguette and Mando-Hella, the whole industry in shock. This is not just restricted to manufacturers but is spread to services and the food franchise industry as well. The corporate sector expected on September 24 that companies like Tous Les Jours, Samsung Electronics service centers, and LG U+ will likely face the same problem any time soon after the Ministry of Employment and Labor made a decision on dispatch workers. An official with a large corporation said that he is worried that the government may pressure his company to hire all dispatch workers as full-time regular employees.

Gov't Decides to Give $8 Mil. Aid to North Korea...Timing to Be Announced Later

The government has decided to give support to North Korea worth US$8 million in programs helping its vulnerable people including children and pregnant women indirectly through international organizations. It, however, has not decided when to start sending money and exactly how. This is interpreted as a choice to deflect criticism that it is undertaking an aid project at a time when North Korea is causing an international storm by launching a series of missile tests.

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AJU Business Daily (http://eng.ajunews.com/korea)

Samsung's strategy to diss LG in large TV market backfires

A strategic campaign launched Samsung Electronics to diss its domestic rival LG Electronics in the world's next-generation high definition TV market has backfired on the world's largest smartphone and computer chip maker. Some experts and consumers accused the tech giant of being paradoxical and reckless in a desperate attempt to promote QLED, Samsung's brand name for its new quantum dot display TV which made its debut this year. For months, Samsung has embarked on aggressive marketing to differentiate itself from other rivals such as LG and Sony which mainly sell OLED (organic light-emitting diode) TVs. QLED uses quantum-dot technology for high-end liquid crystal display (LCD) panels.

S. Korea, China hold defense ministers talks
The defense chiefs of South Korea and China held their first bilateral talks nearly in two years, an official said. South Korean Defense Minister Song Young-moo met with his Chinese counterpart Chang Wanquan for about half an hour in Clark, the Philippines, on the margins of a regional security forum. The meeting came as Seoul hopes to warm relations with Beijing, which have been chilled by a row over the deployment of the THAAD missile defense system on the peninsula.

Climate change prompts S. Korea to test banana cultivation

Helped by a climate change caused by global warming, South Korean farmers eye new strains of crops such as bananas that have never been cultivated on the Korean peninsula for new income sources.

Banana farming is possible only on the southern resort island of Jeju, known for a subtropical weather, but its inland test cultivation is underway in the southwestern seaside county of Haenam. For a banana cultivation climate, the yearly average temperature in Haenam is still lower than 10 degrees Celsius. So, the county's agricultural research center has set up a special greenhouse to test the cultivation of apple mango, coffee, banana, passion fruit, chayote, and dragon fruit.

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

World Korean Business Convention seeks to create youth job

The Overseas Koreans Foundation will more actively take part in creating jobs for South Korean youth by expanding a recruitment program at an annual World Korean Business Convention, said Han Woo-sung, new head of the state-run foundation. “We will assist Korean youth in going global through the World Korean Business Convention,” Han said in an interview with Maeil Business Newspaper on Tuesday, a day before the opening of the 16th World Korean Business Convention. The foundation will also seek to foster the World Korean Business Convention that currently serves a main purpose to provide business networking for Korean businessmen living abroad as an event that can delve into not only economy-related issues but also up-to-date social and cultural issues that 7.4 million Koreans living in foreign countries care, added Han.

LG Display to up OLED output to 2.5 mn units next year

LG Display Co., South Korea’s top display maker, will ramp up annual output of organic light-emitting diode (OLED) display from this year’s 1.7 million to 2.5 million units next year to amplify its pitch on premium OLED TVs starting with Europe. “Europeans are very receptive to new technologies, and almost all industries in Europe offer a sizable premium market, making Europe a prime market for expanding the OLED business,” Yeo Sang-deog, head of LG Display’s OLED division, said during the Europe OLED Day event held in Munich, Germany on Tuesday (local time). The executive revealed the company’s bold ambition to change the global TV market landscape after successfully expanding OLED presence in the European premium TV market.

Korean major life insurers to invest $129 mn in U.S toll road

South Korea’s top life insurers Samsung Life Insurance Co. and Kyobo Life Insurance Co. will invest combined $129 million in a toll road in Upper Midwest of the United States, eying annual return of 4 percent. According to financial industry sources on Monday, Samsung Life Insurance will invest $100 million in a toll road in the U.S. through Australia-based infrastructure investment specialist IFM Investors, while Kyobo Life Insurance has placed $29 million in the same infrastructure through American investor MetLife Investment Management.

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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.cnkf@people.cn

China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn

GwangmyeongDaily www.gmw.cn webmaster@gmw.cn