eFM News

≡ Two Koreas Verify DMZ Guard Post Pullout

[Anchor] South and North Korea have carried out work to verify the disarmament and demolition of frontline guard posts on each side of the Demilitarized Zone. Last month, the two Koreas destroyed 10 frontline guard posts while leaving one each for non-military purposes as a follow-up to a military agreement reached in Pyongyang in September. Our Hanna Choi reports. [Reporter] The South Korean side sent 11 teams across the Military Demarcation Line for the task in the morning. In the afternoon, the North also sent its teams across the border to conduct its own verification work on the southern side. The two sides checked to see whether the guard posts were completely destroyed so that they cannot be used for military purposes again. That means the removal of weapons, equipment, soldiers as well as the burying of underground facilities. It was the first time since the armistice agreement that ended the Korean War that officials have visited guard posts on either side. Seoul's defense ministry noted the peaceful crossing of the Military Demarcation Line represents the two Koreas' will to implement the deal reached in September to ease tensions along the border. It said their ultimate goal is to take down all of the guard posts and transform the buffer zone into a peace zone. Hanna Choi, eFM News.■ [2018.12.12]

≡ Kang Calls On Japan To Be Prudent About Seoul Court Ruling On Forced Labor

Foreign Minister Kang Kyung-wha and her Japanese counterpart Taro Kono have exchanged views on the recent South Korean Supreme Court's ruling on Japan's wartime atrocity. During a phone conversation this morning, Kang urged Kono to take on a cautious stance in light of bilateral relations. In two separate rulings in October and November, Seoul's top court ordered two Japanese companies to pay compensation to Korean victims, rejecting Japan's claims that the rulings go against the 1965 bilateral pact that settled colonial issues. The ministry, however, said the two top diplomats shared the view on the need to continuously engage in close communication.■[2018.12.12]

≡ Ruling Party Agrees To Discuss Electoral Reform With Opposition

The ruling Democratic Party has agreed to join in discussions with the opposition blocs on overhauling the country's electoral system. Following the party's Supreme Council meeting earlier today, DP Secretary-General Yun Ho-jung said it agrees in principle with the minor parties' reform proposals. The chiefs of two opposition parties are on hunger strike, demanding the two main parties join in talks to introduce a mixed-member proportional representation system, in which parliamentary seats are allotted based on voters' support for each party. Yun said the ruling party will try to reach an agreement on the reforms in January and pass a related bill at an extraordinary session in February.■ [2018.12.12]

≡ Hyundai Motor Names First Foreign Head of R&D Division

Hyundai Motor has appointed President Albert Biermann as its first foreign head of research and development as part of a sweeping personnel reshuffle. The move is widely seen as part of preparations for a generational shift at top of the auto group from its Chairman Chung Mong-koo to his son Eui-sun. In January, Hyundai promoted Biermann to the post of president in a move to underscore its focus on developing high-end vehicles. He has been in charge of the development of top-of-the-line vehicles at Hyundai and its affiliate Kia Motors. The former BMW performance car developer joined Hyundai in 2015.■ [2018.12.12]

≡ Seoul Stocks End Higher On Hyundai Motor, US-China Trade Hopes

South Korean stocks ended higher today, helped by a surge in Hyundai Motor following its executive reshuffle. The benchmark KOSPI rose 1.4 percent to close at 2,083, also boosted by hopes for a U.S.-China trade deal. Other Asian markets also finished higher. Tokyo ended up 2.2 percent, Hong Kong rose 1.6 percent while Shanghai gained 0.3 percent. The local currency closed at 1,129 won against the U.S. dollar, up 2 won from the previous session's close.■[2018.12.12]

≡ Number Of Babies Born Daily in Seoul Falls Below 200 For First Time

Latest data shows the country's capital city will likely soon become an aged society. According to the Seoul Statistics Annuals, 179 babies were born a day on average last year, marking the first time for the figure to slip below 200 since the city government began compiling data in 1961. A city official said the continued decline in marriages and the hardship of young couples in getting jobs likely have had an impact on the drop in newborns. The data also showed that the number of elderly people, aged 65 or older, increased 4.9 percent to 1.36 million last year, accounting for 13.5 percent of Seoul's total population. The United Nations defines a country as an aged society when the proportion of the elderly exceeds 14 percent.■[2018.12.12]