eFM News

≡ N. Korea Ramps Up Threat To Walk Away From US Summit

[Anchor] North Korea has renewed its threat to pull out of next month's planned summit with the United States, this time taking issue with recent comments by U.S. Vice President Mike Pence who compared the North to Libya. The North's vice foreign minister Choe Son-hui described Pence's comments as stupid and ignorant. Julie Sohn has more. [Reporter] Vice foreign minister Choe Son-hui was quoted by Pyongyang's state-run news agency today as saying that whether the summit between leader Kim Jong-un and U.S. President Donald Trump is held as scheduled depends entirely on the U.S.' choices and behavior. She said if the U.S. offends against its goodwill and clings to unlawful and outrageous acts, she will suggest the North's supreme leadership reconsider the summit. Choe was referring to recent remarks by U.S. Vice President Mike Pence who told Fox News that North Korea could end up like Libya if leader Kim fails to make a deal. The minister added that Pyongyang will never beg Washington for dialogue or go through the trouble of persuading them if they don't want to sit together with the North. This comes as members of the White House negotiating team are preparing to head to Singapore this weekend to meet with their North Korean counterparts and discuss agenda and logistics for the unprecedented summit. Trump said he will know next week whether his meeting with Kim will take place on June 12th in Singapore as planned. Julie Sohn, eFM News.■ [2018.05.24]

≡ N. Korea Set To Dismantle Punggye-Ri Nuclear Test Site

[Anchor] International journalists are reportedly making their way to the Punggye-ri nuclear test site to witness North Korean officials dismantling the facility. The public process of closing down the site could begin as early as this afternoon. Jeong-eun Lee reports. [Reporter] The group of invited foreign journalists is believed to be nearing the nuclear facility, located deep in the mountainous region of North Korea's Hamgyeong Province. Last night at around 7 p.m., journalists from South Korea, China, Russia, the U.S. and the U.K. departed by train from the Northeastern city of Wonsan. The Punggye-ri nuclear test site is where the North conducted its last six nuclear tests and is the regime's only nuclear testing facility known to outsiders. Dismantling the site could mean that the North is indeed suspending nuclear tests as its leader Kim Jong-un promised. According to North Korean monitoring website 38 North, the site is composed of four separate tunnel systems, two of which are still viable for future testing. All eyes are on if and how the North is going to destroy these tunnels. Jeong-eun Lee, eFM News.■[2018.05.24]

≡ UN Panel Allows N. Koreans To Travel To Singapore For Summit: Reuters

A United Nations panel has granted temporary exemptions from sanctions for North Korean officials traveling to Singapore for the U.S.-North Korea summit. The UNSC committee monitoring sanctions on the North was reportedly asked by Singapore last week to issue a blanket waiver for the North Korean delegation headed to the June 12 meeting between U.S. President Donald Trump and North Korean leader Kim Jong-un. According to Reuters, Singapore said in a document that the summit is "an opportunity to advance the objective of a peaceful resolution of the North's nuclear issue and the establishment of peace and stability on the Korean Peninsula and in the region." North Korea is under extensive U.N. sanctions for its nuclear weapons and ballistic missile programs, including a global asset freeze and travel ban on dozens of individuals.■[2018.05.24]

≡ Constitutional Revision Bill Nullified Due To Lack Of Quorum

A government-proposed bill on a constitutional revision has been nullified as it failed to meet minimum voting requirements at the National Assembly. Parliament convened a plenary session earlier today to deal with the bill proposed by President Moon Jae-in in March, which called for changing the current single five-year presidential term to a maximum of two successive four-year terms. However, it was declared void due to the lack of a quorum. Only 114 ruling party lawmakers took part in the vote -- well short of 192 out of 288 members needed to be valid. Lawmakers of the Liberty Korea Party and the Bareunmirae Party did not attend the session to boycott the move. Today is the legal deadline to vote on the bill.■[2018.05.24]

≡ Candidate Registration For June Elections Open Through Friday

Candidate registration is now open for the June 13th local elections and by-elections. The National Election Commission is accepting applications until 6 p.m. today and again from 9 a.m. to 6 p.m. tomorrow. The official campaign period will begin next week on May 31st and continue until June 12th.■ [2018.05.24]

≡ Bank Of Korea Holds Key Rate Steady At 1.5% For May

The Bank of Korea has left its key rate unchanged for May amid signs of a slowdown in economic activity and low inflation pressure. The central bank's monetary policy board voted today to hold the policy rate at 1.5 percent, as widely expected. The move extends its wait-and-see stance to six months. Analysts predict the BOK will have to increase rates at least once this year. With the U.S. Fed expected to raise rates again in June, economists believe the central bank will need to follow suit. Meanwhile, Finance Minister Kim Dong-yeon said the country is on track toward its growth target of 3 percent, but there are mixed signals in recent economic indicators.■ [2018.05.24]

≡ Seoul Stocks In Midday Trade

Turning to the local bourse, stocks in Seoul are trading _________ at this hour. As of noon, the benchmark KOSPI was up/down _____ percent at _______, while the tech-heavy KOSDAQ was up/down _____ percent at _______. The local currency was trading at _______ won against the greenback, up/down/unchanged _____ won from yesterday's close.■ 1,081[2018.05.24]

≡ Cho Hyun-Ah Faces Questioning Over Illegal Hiring Of Foreign Housekeepers

Cho Hyun-ah, former vice-president of Korean Air known for the infamous "nut rage" incident, will be grilled today by immigration officials over allegations she illegally hired housekeepers from the Philippines. The eldest daughter of Hanjin Group Chairman Cho Yang-ho was summoned to appear at the the Korea Immigration Service in Seoul at 1 p.m. She is believed to have recruited more than 10 Filipino maids by sponsoring them with traineeship visas against the law. Her mother, Lee Myung-hee, who is also suspected of illegally hiring foreign workers, will be questioned by police next Monday over separate assault and abuse allegations.■ [2018.05.24]

≡ Inside Of Sewol Ferry Revealed To Media

The inside of the salvaged Sewol ferry has been revealed to media. The Sewol special investigation committee gave journalists rare access to the inside of the ship this morning at Mokpo New Port, South Jeolla Province. An official said investigators have pinpointed exact areas to search to try and locate the remains of the missing victims. On May 10th, the Sewol ferry was successfully put in the upright position on land, four years after its tragic sinking.■[2018.05.24]

≡ Seven Companies To Recall Nearly 290,000 Vehicles

Seven carmakers are voluntarily recalling nearly 290,000 vehicles to fix faulty parts. The action affects 30 different models produced by Kia Motors, Renault Samsung Motors, Mercedes-Benz Korea, Volvo Korea, Porsche Korea and two importers of two-wheelers. According to the transport ministry it includes Kia's Carnival minivan, which has problems with its sliding door system, and Mercedes-Benz's CLA 250 4MATIC, which may have malfunctioning airbags. Starting tomorrow, vehicle owners can visit designated repair and service centers to have the parts replaced free of charge.■[2018.05.24]